MIRA INFORM REPORT

Report No. :	486207
Report Date :	22.01.2018

IDENTIFICATION DETAILS

Name :	MELCHERS (H.K.) LIMITED
Registered Office :	Unit C – E, 18/F., Billion Plaza 2, 10 Cheung Yue Street, Cheung Sha Wan, Kowloon
Country :	Hong Kong
Date of Incorporation :	23.12.1969
Com. Reg. No.:	02877433
Legal Form :	Private Limited Company.
Line of Business :	Importer, Exporter, Buying Agent, Commission Agent and Manufacturer’s Representative of Garment, Textile & Clothing Accessories, Clothing Accessories, Garment, Clothing – Knitted, Clothing – Woven, Handbag & Travel Goods, Aircraft Parts, Boat Fitting, Accessories & Engine, Auto Accessories, Auto Parts, Fire Resistant, Glass, Metal, Paint, Sealant, Stone / Marble, Wood, Construction & Building Machinery, Window & Accessories, Hand Tool, Lock, Power Tool, Solar Energy System & Accessories, Wind Power System & Accessories, Hydro Power System & Accessories, Giftware, Cuff Link, Chemical, Raw Material, Ferrous Metal, Non-Ferrous Metal, Parts & Accessories, Sports Equipment
No. of Employees :	80. (Including associates in Hong Kong)

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List

Country Name	Previous Rating (30.06.2017)	Current Rating (30.09.2017)
Hong Kong	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	D

HONG KONG - ECONOMIC OVERVIEW

Hong Kong has a free market economy, highly dependent on international trade and finance - the value of goods and services trade, including the sizable share of reexports, is about four times GDP. Hong Kong has no tariffs on imported goods, and it levies excise duties on only four commodities, whether imported or produced locally: hard alcohol, tobacco, hydrocarbon oil, and methyl alcohol. There are no quotas or dumping laws. Hong Kong continues to link its currency closely to the US dollar, maintaining an arrangement established in 1983.

Hong Kong's open economy left it exposed to the global economic slowdown that began in 2008. Although increasing integration with China through trade, tourism, and financial links aided a more rapid initial recovery than many observers anticipated, its continued reliance on foreign trade and investment leaves it vulnerable to renewed global financial market volatility or a slowdown in the global economy.

The Hong Kong Government is promoting the Special Administrative Region (SAR) as the site for Chinese renminbi (RMB) internationalization. Hong Kong residents are allowed to establish RMB-denominated savings accounts; RMB-denominated corporate and Chinese government bonds have been issued in Hong Kong; and RMB trade settlement is allowed. The territory far exceeded the RMB conversion quota set by Beijing for trade settlements in 2010 due to the growth of earnings from exports to the mainland. RMB deposits grew to roughly 9.4% of total system deposits in Hong Kong by the end of 2015. The government is pursuing efforts to introduce additional use of RMB in Hong Kong financial markets and is seeking to expand the RMB quota.

The mainland has long been Hong Kong's largest trading partner, accounting for about half of Hong Kong's total trade by value. Hong Kong's natural resources are limited, and food and raw materials must be imported. As a result of China's easing of travel restrictions, the number of mainland tourists to the territory has surged from 4.5 million in 2001 to 47.3 million in 2014, outnumbering visitors from all other countries combined. Mainland visitors to Hong Kong declined 3% in 2015 to approximately 45.7 million, reflecting an overall drop of 2.5% in total visitors to Hong Kong. Hong Kong has also established itself as the premier stock market for Chinese firms seeking to list abroad. In 2015, mainland Chinese companies constituted about 51% of the firms listed on the Hong Kong Stock Exchange and accounted for about 62.1% of the exchange's market capitalization. During the past decade, as Hong Kong's manufacturing industry moved to the mainland, its service industry has grown rapidly. In 2014, Hong Kong and China signed a new agreement on achieving basic liberalization of trade in services in Guangdong Province under the Closer Economic Partnership Agreement, adopted in 2003 to forge closer ties between Hong Kong and the mainland. The new measures, which took effect in March 2015, cover a negative list and a most-favored treatment provision, and will improve access to the mainland's service sector for Hong Kong-based companies.

Credit expansion and a tight housing supply have caused Hong Kong property prices to rise rapidly; consumer prices increased 2.6% in 2016, but slowed to 2.0% in 2017. Lower- and middle-income segments of the population are increasingly unable to afford adequate housing.

Hong Kong’s economic integration with the mainland continues to be most evident in the banking and finance sector. Initiatives like the Hong Kong-Shanghai Stock Connect, the Mutual Recognition of Funds, and The Hong Kong Shanghai Gold Connect are all important steps towards opening up the Mainland’s capital markets and has reinforced Hong Kong’s leading role as China’s offshore RMB market. Additional connect schemes from bonds to commodities and other investment products are also under exploration by Hong Kong authorities.

Source : CIA

Note

(Formerly located at:

Room 1210, 12/F., West Tower, Shun Tak Centre,

200 Connaught Road Central, Hong Kong.)

Company name and address

MELCHERS (H.K.) LIMITED

ADDRESS: Unit C – E, 18/F., Billion Plaza 2, 10 Cheung Yue Street, Cheung Sha Wan, Kowloon, Hong Kong.

PHONE: 2546 9069

FAX: 2559 6552

E-MAIL: melchers@melchers.com.hk

mirandachow@melchers.com.hk

MANAGEMENT:

General Manager: Mr. David Malcolm Reid

SUMMARY

Establishment: 1866. (In Shanghai)

May 1952. (In Hong Kong)

Incorporated on: 23rd December, 1969.

Organization: Private Limited Company.

Issued Share Capital: HK$2,000,000.00

Business Category: General Importer and Exporter.

Employees: 80. (Including associates in Hong Kong)

Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

Banking Relation: Very good.

ADDRESS

Registered Head Office:-

Unit C – E, 18/F., Billion Plaza 2, 10 Cheung Yue Street, Cheung Sha Wan, Kowloon, Hong Kong.

G.P.O. Box 713, Hong Kong.

China Offices:- [Under the name of C. Melchers GmbH & Co.]

Changchun Office
Ren Min Street, Changchun 130021, China.
[Tel: 86-431-8191 9310; Fax: 86-431-8191 9300]

Dalian Office
Room 1930, Pearl River International Building, 99 Xiankai Road, Xigang District, Dalian 116011, China.
[Tel: 86-411-8369 7511; Fax: 86-411-8377 9107]

Beijing Representative Office
Room 503-504, Beijing Tower, 10 Changan Avenue East, Beijing 100006, China.
[Tel: 86-10-6525 7775; Fax: 86-10-6512 3505]

Shanghai Representative Office
13/F., East Ocean Center, 588 Yan-An Road East, Shanghai 200001, China.
[Tel: 86-21-6352 8848; Fax: 86-21-6351 3138]

Chongqing Representative Office
Zhong Shan San Lu 139, Chongqing 400015, China.
[Tel: 86-23-6382 8040, 6382 8041; Fax: 86-23-6382 8043]

Guangzhou Representative Office
Room 1108, T.P. Plaza, 9/109 Liu Hua Road, Guangzhou 510010, China.
[Tel: 86-20-8666 8700; Fax: 86-20-8667 7845]

Wuhan Representative Office
Room 1203, Apartment Building, Yangtze Hotel, 1131 Liberation Avenue, Wuhan 430030, China.
[Tel: 86-027-8362 2878; Fax: 86-027-8362 3296]

Harbin Office

Hong Jun Street, Harbin 150002, China.
[Tel: 86-451-5300 9915; Fax: 86-451-5300 9896]

Holding Company:-

Fernost Beteiligungsgesellschaft Mbh

Schlachte 39/40, D-28195 Bremen 1, Germany.

Ultimate Holding Company:-

C. Melchers GmbH & Co.

Schlachte 39/40, D-28195 Bremen 1, Germany.

[Tel: 49-421-1769 0; Fax: 49-421-1769 3401]

Associated Companies:-

Melchers Group of Companies

AK Sport (HK) Ltd., Hong Kong.

AK-Sport GmbH & Co. Vertriebs KG, Germany.

Ambiente Pacific Ltd., Hong Kong. [Dormant]

APA – Kandt GmbH, Germany.

autronic-Melchers GmbH, Germany.

autronic-Melchers LCD-Handels GmbH, Germany.

AVIVA GmbH, Germany.

Boehmer Valves (Kunshan) Ltd., China.

Breitling China Ltd., Hong Kong.

C. Melchers & Co. (Thailand) Ltd., Thailand.

CMC Engineering Export GmbH, Germany.

elephant bambusprodukte GmbH, Germany.

Elephant GmbH & Go. KG, Germany.

Eurasdaun GmbH, Germany.

Happy People GmbH & Co. KG, Germany.

IGEL Technology BVBA, Belgium.

IGEL Technology GmbH, Germany.

IGEL Technology Inc., USA.

IGEL Technology Ltd., UK.

Inspirion GmbH, Germany.

KC Happy People (HK) Ltd., Hong Kong.

Melchers & Hinrichs (Hong Kong) Ltd., Hong Kong.

Melchers (Beijing) Ltd., China.

Melchers (Malaysia) Sdn. Bhd., Malaysia.

Melchers (Shanghai) Ltd., China.

Melchers HOME GmbH, Germany.

Melchers Inlett & Outdoor GmbH, Germany.

Melchers Loyalty GmbH, Germany.

Melchers Print & Pack (HK), Hong Kong.

Melchers Stucken South Africa (Pty) Ltd., South Africa.

Melchers Techexport GmbH, Germany.

Melchers Techexport Ltd., Hong Kong. [Dissolved]

Melchers Techimport GmbH, Germany.

Melchers Trading GmbH, Germany.

Melchers Travel GmbH, Germany.

MelchersRaffel Ltd., Germany.

mySWOOOP GmbH, Germany.

Overseas Automotive Auto-Ersatzteil-Export GmbH, Germany.

P.T. Melindo Dipta, Indonesia.

Paul Import GmbH, Germany.

PT. Rubberfoam Indonesia, Indonesia.

RF Rubber Foam International GmbH & Co. KG, Germany.

Scoretex GmbH, Germany.

Sky Tower Pte. Ltd., Singapore.

Sky Vision Satellitentechnik GmbH, Germany.

Stucken Melchers GmbH & Co. KG, Germany.

The Wood Times GmbH & Co. KG, Germany.

TIB Heyne & Co. GmbH, Germany.

Topico Handels GmbH & Co. KG, Germany.

etc.

BUSINESS REGISTRATION NUMBER

02877433

COMPANY FILE NUMBER

0019107

MANAGEMENT

General Manager: Mr. David Malcolm Reid

ISSUED SHARE CAPITAL

HK$2,000,000.00 (200,000 fully paid ordinary shares)

SHAREHOLDERS

(As per registry dated 23-12-2016)

Name		No. of shares
Fernost Beteiligungsgesellschaft Mbh Schlachte 39/40, D-28195 Bremen 1, Germany.		199,999
Transmarina-Handelsgesellschaft Mbh Schlachte 39/40, D-28195 Bremen 1, Germany.		1
		–––––––
	Total:	200,000 ======

DIRECTOR

(As per registry dated 31-01-2017)

Name	Address	Co. No.
Fernost Beteiligungsgesellschaft mbH	Schlachte 39/40, D-28195 Bremen 1, Germany.	-

SECRETARY

(As per registry dated 23-12-2016)

Name	Address	Co. No.
Compsec Services Ltd.	Suite C, 16/F., On Hing Building, 1-9 On Hing Terrace, Central, Hong Kong.	0142396

HISTORY

The subject was first known as C. Melchers GmbH & Co. Hong Kong Representative Office which was established in 1866 in Hong Kong and re‑established in Hong Kong in May 1952. Incorporated on 23rd December, 1969 as a private limited liability company bearing the name of Melchers (H.K.) Ltd. which is the present style under the Hong Kong Companies Ordinance.

Formerly the subject was located at ‘Room 1210, 12/F., West Tower, Shun Tak Centre, 200 Connaught Road Central, Hong Kong’, moved to the present address with effect from 25th August, 2017.

Apart from these, neither material change nor amendment has been ever traced and noted.

OPERATIONS

Activities: Importer, Exporter, Buying Agent, Commission Agent and Manufacturer’s Representative.

Lines:-

Garment, Textile & Clothing Accessories, Clothing Accessories, Garment, Clothing – Knitted, Clothing – Woven, Handbag & Travel Goods, Aircraft Parts, Boat Fitting, Accessories & Engine, Auto Accessories, Auto Parts, Fire Resistant, Glass, Metal, Paint, Sealant, Stone / Marble, Wood, Construction & Building Machinery, Window & Accessories, Hand Tool, Lock, Power Tool, Solar Energy System & Accessories, Wind Power System & Accessories, Hydro Power System & Accessories, Giftware, Cuff Link, Chemical, Raw Material, Ferrous Metal, Non-Ferrous Metal, Parts & Accessories, Sports Equipment, etc.

Agencies: (See attachment)

Employees: 80. (Including associates in Hong Kong)

Commodities Imported: Imported from Germany, Switzerland, Italy, Sweden, Finland, USA, Brazil, Taiwan, etc.

Markets: Europe, Hong Kong, China, etc.

Annual Turnover: Quite large amount.

Terms/Sales: As per contracted.

Terms/Buying: Various terms.

GOVERNMENT CONTRACT AWARDED SINCE 1990

Date	GN No.	Particulars	Amount
29-12-1995	GN5403	Supply of Black Rubber Top Boots Country of Origin: Italy	HK$142,500

MEMBERSHIP

The Hong Kong General Chamber of Commerce, Hong Kong.
[Membership No. HKM0107]

FINANCIAL INFORMATION

Issued Share Capital: HK$2,000,000.00 (200,000 fully paid ordinary shares)

Mortgage or Charge:-

Date of Assignment of DC Proceeds re export bills restricted to other banks for negotiation/payment: 25-05-2001

Amount:All loans or other advances made or to be made by the Bank to the Customer against documents submitted under a Documentary Credit, all monies and liabilities in any currency owing by the Customer to the Bank at any time, whether separately or jointly, actually or contingently, present or future, interest on all loans and advances and such monies and all expenses of the Bank in perfecting or enforcing the Assignment

Property: By way of assignment or agreement to assign in each case as beneficial owner. All monies in any currency representing proceeds payable or to be paid to the Customer under the Documentary Credits, all the Customer’s right, title and interest in the said Documentary Credits and the benefit of all powers and remedies for enforcing the Documentary Credits

Mortgagee: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

Profit or Loss: Business is profitable.

Condition: Keeping in an active and good condition.

Facilities: Making active use of general banking facilities.

Payment: Regular

Commercial Morality: Good.

Bankers:-

The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

Deutsche Bank AG, Hong Kong Branch.

ABN AMRO Bank N.V., Hong Kong Branch.

Calyon, Hong Kong Branch.

Standard Chartered Bank (Hong Kong) Ltd., Hong Kong.

etc.

Banking:-

One source reports they have maintained a fairly active and well conducted current account in their bank since 5th January, 1970 on which they grant limited clean facilities. They handle their small export bills under L/C to their satisfaction.

Another source informs account opened with them on 2nd January, 1970 is actively conducted. Their dealings with them have been entirely satisfactory and they grant large facilities for their import and export business.

Third source reveals their dealings with them has been entirely satisfactory.

Fourth source states their experience has been highly satisfactory.

Standing: Very good.

GENERAL

Melchers (H.K.) Limited is a wholly-owned subsidiary of Fernost Beteiligungsgesellschaft Mbh which is a Germany-based firm. The holding company is also a director of the subject.

The subject in fact is an indirect subsidiary of C. Melchers GmbH & Co. [Melchers] which is an old-established company of great renown in Germany.

The presence of Melchers in Hong Kong began in 1866 when Melchers established a branch to perform general trading activities and to act as a commission agent. The business quickly prospered with the continuing development of the China trade and in 1877 a branch was established in Shanghai. Four more branches had been established in China by 1900.

The Hong Kong office was re-established in 1952 following the Group’s inactivity during the World War. However, its business was not substantially redeveloped until the early1960s and in 1969 the subject was incorporated. The business in Hong Kong based on re-exporting garments which were imported from China. Europe was the prime market, especially Germany. By the early 1970s, the subject began to import machinery and equipment form foreign advanced countries for the Hong Kong manufacturers. Both the import and export businesses continued to grow and diversify with the gradual opening policies of China.

In 1979, Melchers was permitted by the Chinese Government to re-establish an office in Beijing, followed in the early 1980s offices were established in Shanghai and Guangzhou. Melchers has been able to benefit from the business opportunities arising from China’s booming economic since the 1980s.

Today, the subject remains putting emphasis on the export of textiles and sundries to Europe, the United States and the import of machinery, power tools and industrial materials to the Greater China region. It operates a logistics base from a 50,000 sq.ft. warehouse in a purpose-built facility located close to the main container terminals in Kwai Chung, Hong Kong. The standard of the facility and its location allow fast and efficient handling of incoming and outgoing containers as well as deliveries within Hong Kong. The subject also maintains space for special products in licensed dangerous goods warehouses in the region.

As far as the business in China is concerned, Melchers is delivering goods to all provinces in China from its warehouse facilities in Guangzhou, Shanghai and Beijing operated under the Group’s wholly-owned Shanghai registered company, Melchers (Shanghai) Ltd. Now, Melchers has 300 staff in specialised product department operate throughout the Greater China. Its product departments cover most of the key industries in Greater China region including plastics, packaging, pharmaceuticals, printing, petrochemical, oil and gas, automotive, electronics, as well as retail and sourcing.

Melchers was founded in 1806 by Anton Friedrich Carl Melchers in Bremen as a private partnership. Foreign trade concentrated on North and Central America during the first 60 years, but gradually shifted to Asia with the establishment of Melchers Hong Kong representative office in Hong Kong in 1866.

Today, in addition to the head office in Bremen, branch offices and associated companies have been established in Hong Kong, Beijing, Shanghai, Guangzhou, Chongqing, Dalian, Wuhan, Singapore, Kuala Lumpur, Jakarta, Colombo, Seoul, Bangkok, Taipei, Manila, Ho Chi Minh, Hanoi, Yangon, San Francisco, New York, Fairfield, etc.

The branch in San Francisco was set up in the early eighties. The Group also has been involving in the US-Asian trade since then.

In China only, the Group has had over 2,000 persons employed at twelve branches and plants throughout China.

Melchers is a diversified international services group with a historic focus on Greater China. Its presence in Hong Kong dates back to 1866 and since then it has developed considerable experience in doing business in the Greater China region. Its current focus is on marketing and distribution for a wide range of industrial and consumer products and raw materials in the region and on sourcing industrial and consumer products for European and North American customers. The Group has an extensive network of offices and warehouses in Greater China and throughout Asia to support its businesses.

Its diverse business activities include the marketing and distribution of machinery and equipment, industrial tools, industrial materials, luxury products/brands, specialised IT solutions, and semi-precious stones.

On the sourcing side it handles a very wide range of products including garments, bags, promotional items, toys, construction materials, machine parts, and automotive parts. It is also involved in machinery technical support solutions, automated production solutions and specialised entertainment-related construction projects. It also offers logistics services from its network of warehouses and China import and export services. It offers the following services:

· Other Retailing

· Other Business Management & Consultancy Service

· Other Storage Service

· General Cargo Warehousing

· Property Development

· Other Building & Construction Service

· Other Engineering Service

The Group has over 20 offices in 13 countries, mainly in Asia. The headquarter offices are located in Bremen in Germany.

There are special departments for each article group in Bremen as well as at the foreign branches. They work independently within the overall Group and are staffed by qualified personnel. Over 1,000 employees in Germany and abroad assist customers and suppliers with their specialist knowledge. Rather than being based at the Group’s headquarters, most of these employees are now stationed at subsidiaries, something which in turn reflects the company’s further development and the strategic alliances which it has forged.

The subject is fully supported by Melchers and its affiliates. History in Hong Kong is over 48 years.

On the whole, in view of the history, parentage and background of the subject, consider it good for normal business engagements.

REMARKS

Property information of the company:-

Property Location	Owner	Date of Purchase	Purchased Price
Unit No. 1210 on 12/F. of West Tower, Shun Tak Centre, 168-200 Connaught Road Central, Hong Kong.	Melchers (H.K.) Ltd.	25-03-1986	HK$12,519,000

(No mortgage record registered against the property)

AGENCIES

Brand	Product	Country of Origin
2KM/DOPAG	Silicone mixing and dosing machine	Switzerland
4711	Cologne, soaps, shampoo, foam bath	Germany
ARBURG	Injection moulding machine	Germany
ARMSTRONG	Mineral fibre ceilings	USA
BATTENFELD GLOENCO	Film production lines	UK
BENZ + HILGERS	Filling and wrapping line for butter and pasty product	Germany
BERNDORF	Waterproofing membranes cutlery	Switzerland
BIAGOSCH & BRANDAU	Can making machinery	Germany
BIBRA	Compound lining spreading machine, curing oven line can body former, can end production line	Germany
BOSCH	Battery tools, hand drill, impact drill	Germany
BOSCH	Hammer drill, demolition hammer, straight	Switzerland
BOSCH	Grinder, angle grinder, polisher and wet	Brazil
BOSCH	Grinder, tapper, jigsaw, orbital sander, eccentric sander, belt sander, planer, router, diamond cutter, universal saw, power tools accessories, jigsaw blade	USA
BOSCH, SKIL	Power tools	Germany, USA
CIRCLE RIEDMONT	Glass block panels	USA
DAMPA	Aluminium ceilings	Denmark
DEMAG	Plastic injection moulding machines	Germany
DOPAG	Two-components mixing and dosing machine	Switzerland
DRI-AIR	Plastic granulate dehumidifier	USA
ELCALOR	Can and plastic containers leakage testing machine	Italy
ELEKTRA-BECKUM	Wood working machines	Germany
ERSA	Wave soldering system, infra red reflow system for PC boards food processing industries	Germany
ESS	Transformer core welding machine	Germany
FILOMAT	Cable and wire processing machine, crimping machine, stripping and cutting machine	Switzerland
FMC	Horizontal form-fill-seal packaging machine	Italy
GASTI	Cup filling and sealing packing line for yogurt and food products	Germany
GEIGER	Robotic handling system for injection moulding machine	Switzerland
GETINGE	Water sterilizer, ventilator sterilizer for container or package	Sweden
GEZE	Door closers, floor springs doors and window fittings	Germany
GIEBELER	Business forms machines, collators	Germany
HEBENSTREIT	Wafer production line	Germany
HUBERS	Vacuum casting resin line for transformics, electrical insulators	Germany
KLINGHAMMER	Projection welder, beading machine, flanging machine, seaming machine	Italy
KLINGHAMMER ITALIA	Can making machinery	Japan
KRAMER & GREBE	Labelling machines, meat processing machines, packaging machines	Germany
KRAMER + GREBE	Cut mixer (for ham, luncheon meat and sausages), vacuum packing machine	Germany
KRONES	Labelling machines (for bottlings, cans and plastic container)	Germany
KRUPP	Can making machinery, round can production line	Germany
KUGLER	Filling equipment, filling machine (for liquid and paste, soya sauce, oyster sauce, mineral water, tooth paste, ointment)	Germany
LUBECA	Can making machinery, rectangular can seaming machine	Germany
MAG	Blow moulding machines	Italy
MAGIC	PET bottles production line	Italy
MAN-ROLAND	Web offset printing machines	Germany
METEOR	Precision coil winding machines, wire gauges	Switzerland
MHK	Anchor	Taiwan
MONTANA	Metal roofing, decking and wall cladding systems	Switzerland
NORAFLOOR	Rubber flooring, setspreads, risers, stair angles, stair nosings and skirting, self adhesive carpet tiles	Germany
NORAMENT	Rubber flooring, setspreads, risers, stair angles, stair nosings and skirting	Germany
PHOENIX	Printing blankets	Germany
PKL	Food processing machines	Germany
PKL - COMBIBOC	Aseptic form-fill-seal line for soft drinks and soups	Germany
ROMMELAG	Aseptic plastic bottles form-fill-seal machine (for IV solution, eye drops, etc.)	Switzerland
ROTOMEC	Rotogravure printing machines, converting machines	Italy
S.M.S.	Aluminium open cell ceilings	France
SARNAFIL	Waterproofing membranes cutlery	Switzerland
STEINHOFF	Twisted sugar cone and moulded cone for ice cream	Germany
TAMBEST	Curved glass (half, tempered and laminated glass)	Finland
TECHNE	Blow moulding machines	Italy
TOOL-TEMP	Mould temperature regulator	Switzerland
UNIVERSAL	Toroidal coils winding machine	USA
VAW	Aluminium foil, aluminium products	Germany
VEGRA	Printing chemicals	Germany
VITRALAN	Glass textile wall coverings	Germany
WANNER	Crushers for spin and runner recycling integral with injection moulding machine	Germany

Other brand names are: DATAPAO, KOMAX, MPS, MARSILLI, ROYAL LEERDAM, ONDAL, SKIL, SCHUNK and YAMUKA.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 63.72
UK Pound	1	INR 88.64
Euro	1	INR 78.14
HKD	1	INR 8.18

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	NIS
Report Prepared by :	TRU

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.