Business Credit Report (Italy)

Client Name : Hong Kong Rich Ltd Attention s Pretty Chan Report Date : 1 November 2009 Our Ref : 654321 General Information Business Credit Report (Italy) Subject Name : Italy Sample Limited Trading Address : Via Lago Di Garda 123 Schio Vicenza 456789 Registered Address : Via Lago Di Garda 123 Schio Vicenza 456789 Tel : [+39] 0445-987654 Fax : [+39] 0445-987654 E-mail : info@ ItalySample.it Website : www. ItalySample.it Chief Executive r. S. Fiore (Managing Director) Legal Form : Private company with limited liability Incorporation Date : 4 January, 1988 Incorporation Place : Italy Incorporation No. : 123456 Paid-up Capital : EUR 1,200,000.00 Business Nature anufacturer of Electronic Products & Components Sales Turnover : US$ 20,775,094.94 During 2006 year Employees : 130 staffs Principal Bankers : UNICREDIT BANCA SPA / CASSA DI RISPARMIO DI PADOVA E ROVIGO / BANCA POPOLARE DI VICENZA SCPA / INTESA SANPAOLO SPA Negative Record : Nil Credit Rating : C+ - All amount quoted in this report are in Hong Kong Dollars unless otherwise stated. P. 1 of 13

History Subject was originally founded and registered as a private company with limited liability on 4 January 1988. Its License Number was VI116-21376 with validity until 31 December 2050 which was issued by Camera Di Commercio Industria Artigianato Ed Agricoltura - Registro Imprese - Vicenza (VI). Then it was changed to current License Number 123456. Subject s primary business activity is manufacturer and its current operational status of business is Normal. Currently, subject is a member of AI. According to the registration information, the registered capital of subject was EUR 1,200,000.00 which has been fully paid up. Shareholders & Management Amount of Shares EUR % of Shares Name r. S. Fiore 1,020,000.00 85% Nationality : Chairman, Managing Director : Italy Date of Birth : 20 Apr, 1954 Address : Via Roccolertto 19, Schio, Vicenza, 36015 Residency : Italy Appointment date : 22 Jul, 1996 Tax No : GRNGRG54D20L123C Other Details : Place of birth : Thiene (VI) Work experiences : Partner of the following companies : - EAS APPLICAZIONI ELETTRONICHE DI GERONAZZO E SALBEGO - SDF - SILTEC DI FACCI MARIANO E C - SNC - ATN ELECTRONICS DI GERONAZZO GIORGIO E C SNC - Chairman, P6 ELETTRONICA SRL Responsibility : Handles the overall management of the company. Date appointed : Appointed as Chairman on 22 July, 1997 - All amount quoted in this report are in Hong Kong Dollars unless otherwise stated. P. 2 of 13

Other Positions : MESA BLUE SRL Chairman AREA ZEROSETTE SRL Chairman EAS APPLICAZIONI ELETTRONICHE DI GERONAZZO GIORGIO - Chairman Name r. M Galante 120,000.00 10% : Director Nationality : Italy Date of Birth : 16 Jul, 1967 Address : Via Monte Nero 8, Malo, VI, 36034 Residency : Italy Appointment date : 22 Jul, 1996 Tax No : GRNNLN67L16E123G Other Details : Place of birth alo (VI) Work experiences : - Partner, ATN ELECTRONICS DI GERONAZZO GIORGIO E C SNC - Director, P6 ELETTRONICA SRL Other Positions : AREA ZEROSETTE SRL - Managing Director HALTEA SRL - Chairman Name s. E Pecci 60,000.00 5% : Director Nationality : Italy Date of Birth : 23 Nov, 1960 Name r.r Palladino Nil Nil anager Dept./ Division : Production Name r. G De Rossi Nil Nil anager Dept./ Division : Purchasing - All amount quoted in this report are in Hong Kong Dollars unless otherwise stated. P. 3 of 13

Name r. A Dolcetti Nil Nil anager Dept./ Division : Sales Name r.a Capone Nil Nil anager Dept./ Division : Sales Name r. G Corradi Nil Nil anager Dept./ Division : Technical Name r. D Coco Nil Nil : Auditor Born : 25 February, 1943 Tax No : CNCMDA43B25L123Y Residency : Italy Appointment date : 28 Aug, 2007 Other Details : Place of birth : Thiene (VI) Status : Temporary Name r. S Federici Nil Nil : Auditor Born : 28 January, 1964 Tax No NNNTN64A28A123A Appointment date : 28 Jun, 2007 Other Details : Place of birth : Bassano Del Grappa ( VI) Status : Permanent - All amount quoted in this report are in Hong Kong Dollars unless otherwise stated. P. 4 of 13

Name r. F Giovanini Nil Nil : Auditor Born : 12 August, 1964 Tax No : DRSCLD64M12L123R Address : Via Marco Cnr 19/21 Thiene 36016 Residency : Italy Appointment date : 29 May, 2007 Other Details : Place of birth : Thiene (VI) Name r. K Fuser Nil Nil : Auditor Born : 29 October, 1970 Tax No : LBRMTT70R29A123A Address : Via Vivaldi 4/1 Residency : Italy Appointment date : 29 May, 2007 Other Details : Place of birth : Bassano Del Grappa ( VI) Status : Temporary Name r. C. Italiano Nil Nil : Auditor Born : 27 September, 1964 Tax No : ZMBSRG64P27L123L Appointment date : 28 Jun, 2007 Other Details : Place of birth : Thiene (VI) Status : Permanent Total : 1,200,000 100% - All amount quoted in this report are in Hong Kong Dollars unless otherwise stated. P. 5 of 13

Licenses & Permits: VAT/Tax registration number : 01954070247 Date issued : 19 February, 1996 Issuing authority : Register of Companies in Vicenza License number : 45430 Date issued Type of license Place issued : 19 January,1998 : License for dealing with overseas market : Vicenza (VI) Quality Certifications Type of certification : UNI-EN 29002 (ISO 9002) Issuing authority : CSQ Year of certification : 1994 Approved number : 9190 Type of certification : UI-EN ISO 9001:2000 (VISION 2000) Issuing authority : IQNET Year of certification : 2003 - All amount quoted in this report are in Hong Kong Dollars unless otherwise stated. P. 6 of 13

Operation Subject is mainly engaged in Automatic board testing, Automation systems, Board coating, Board painting and Board washing. Specializes in the following areas of work : 1. Operates as a subcontractor in manufacturing a wide range of electronic products. 2. Also provides electronic and electromechanical services. Products are supplied for the following industries: - Security - Professional electronics - Power drives - Termoregulation - Home automation - Inverters - Textile machines - Industrial automation - Door-control automation - Healting and air conditioning - Telecommunications - Power supplies Current capacity : 30,000 real SMD components/hour. 30% of the annual turnover is attributed to export. 70% of the annual turnover is attributed to local sales. The export markets include Europe and Switzerland. Payment Terms Sales Local Export : Cash or credit : Letter of Credit (L/C), Telegraphic Transfer (T/T) Purchases Local : Cash or credit - All amount quoted in this report are in Hong Kong Dollars unless otherwise stated. P. 7 of 13

Employees Subject employs 130 staffs to run its daily operation. Premises The previous address was Via Lago Di Bolsena 28 Schio 36015 Vicenza. Subject is a tenant of the address Via Lago Di Garda 10 Schio Vicenza 36015. The premises are served as office and factory I. The 3 factories occupies a total of 6,000 sq meters. Branch Name : EAS SRL (LOGISTICS) - SCHIO Address : Via Lago Di Idro Schio, Vicenza 36015 Mergers & Acquisitions Type erger Parties involved : P6 ELETTRONICA SRL Date of transaction : 31 October, 2002 Details : The company, which is the surviving entity, merged with P6 Elettronica SRL Brand Turnkey - All amount quoted in this report are in Hong Kong Dollars unless otherwise stated. P. 8 of 13

Financial Information Balance Sheet Unit : Eur -----31-12-2007----- -----31-12-2008---- Cash balances 3,154.00 2,938.00 Current liquidity 3,154.00 2,938.00 Credit 5,107,749.00 6,208,763.00 of which short term 5,107,749.00 6,208,763.00 of which trade debtors 4,658,191.00 5,951,709.00 Accrued income and prepaid expenses 25,941.00 23,785.00 Deferred liquidity 5,133,690.00 6,232,548.00 Raw materials 1,444,060.00 2,537,972.00 Finished and semifinished goods 1,704,822.00 725,654.00 Current assets 3,148,882.00 3,263,626.00 Intangible assets 155,549.00 140,136.00 Tangible assets 1,289,552.00 962,686.00 Loans and advances to subsidiaries 0.00 200,060.00 Total fixed assets 1,445,101.00 1,302,882.00 Equity investments 228,890.00 251,788.00 Other assets 2,325.00 2,325.00 Financial assets 231,215.00 254,113.00 TOTAL ASSETS 9,962,042.00 11,056,107.00 Short term debts 2,801,269.00 2,342,238.00 Pension fund 908,557.00 955,992.00 Prov. for risks and charges 2,626.00 0.00 Debt 4,075,344.00 5,427,546.00 of which short term 4,075,344.00 5,427,546.00 of which to suppliers 3,016,084.00 4,169,281.00 Accrued expenses and deferred income 10,381.00 10,889.00 Debts other than financial debts 4,996,908.00 6,394,427.00 Medium/long term financial debts 547,441.00 435,703.00 Shareholders' equity 1,616,424.00 1,883,739.00 TOTAL LIABILITIES 9,962,042.00 11,056,107.00 - All amount quoted in this report are in Hong Kong Dollars unless otherwise stated. P. 9 of 13

Income Statement Unit : Eur -----31-12-2007----- -----31-12-2008----- Production value 11,838,296.00 15,433,157.00 Total revenue 11,995,412.00 16,412,325.00 Total changes (157,116.00) (979,168.00) Change in inventories (157,116.00) (979,168.00) Money operating costs 11,678,205.00 14,148,187.00 Stock consumption 6,636,625.00 8,486,102.00 General expenses 1,677,466.00 1,996,423.00 Personnel Cost 3,364,114.00 3,665,662.00 Gross operative margin 160,091.00 1,284,970.00 Depreciation, appropriation and devaluation 378,930.00 509,445.00 Operative profit (218,839.00) 775,525.00 Financial charges 102,788.00 122,486.00 Profit before taxation (321,627.00) 653,039.00 Taxation 133,674.19 423,844.49 Net profit (455,301.19) 229,194.51 additional and extraordinary items 136,196.19 38,123.49 Non - operating income 63,543.00 20,725.00 Extraordinary items 666.00 (11,017.00) Taxation on additional and extraordinary items 71,987.19 28,415.49 PROFIT/LOSS (319,105.00) 267,318.00 - All amount quoted in this report are in Hong Kong Dollars unless otherwise stated. P. 10 of 13

Financial Ratios -----31-12-2007----- -----31-12-2008----- % variation in revenues 2.37 36.82 % variation in total assets 19.09 10.98 % variation in operating profit (178.96) (454.38) % variation in net profit 1,663.19 (150.34) % variation in Profit (Loss) (2,343.58) (183.77) % variation in employees (0.87) 1.75 ROE - Return on equity (%) (28.17) 12.17 ROI - Return on investments (%) (4.62) 17.60 ROS - Return on sales (%) (1.82) 4.73 Incidence of non-typical management N/A 0.34 Gearing ratio 6.16 5.87 Financial debts/net invested capital (%) 67.44 59.59 Current Ratio 1.20 1.22 Quick Ratio (acid test ratio) 0.75 0.80 net working capital 1,396,106.00 1,718,439.00 Cash margin (1,752,776.00) (1,545,187.00) Structural margin index 0.96 1.21 Enlarged structural margin index 1.83 2.10 Structural margin (59,892.00) 326,744.00 Enlarged structural margin 1,396,106.00 1,718,439.00 Capital intensity (%) 83.05 67.36 Capital invested turnover 1.20 1.48 Current Asset turnover 1.45 1.73 Tangible assets turnover 7.16 10.54 Receivables turnover 2.58 2.67 stock turnover 3.81 5.03 Debt Turnover 2.27 2.30 Average trade debtors' days 141.74 136.81 Turnover rate 95.82 72.58 Average trade creditors' days 160.45 158.82 Financial cycle term 77.11 50.58 - All amount quoted in this report are in Hong Kong Dollars unless otherwise stated. P. 11 of 13

Banking Information Principal Bankers : UNICREDIT BANCA SPA / CASSA DI RISPARMIO DI PADOVA E ROVIGO / BANCA POPOLARE DI VICENZA SCPA / INTESA SANPAOLO SPA Name : BBB Branch Address : Thiene : Via Zamboni 20 Bologna 40126 (Head Office) Name : AAA Branch : Thiene Name : DEF SCPA Branch Address : Thiene : Viale Dell' Industria Schio 36035 (Head Office) Name : ABC SPA Branch : Vicenza Address : Via dell'industria 1 Adverse Data Monitoring DISHONORED CHECKS DEBT LITIGATION PERFORMANCE DEFAULTS ADVERSE PRESS COVERAGE FORMER COMPANY RELATIONSHIPS No Record Found No Record Found No Record Found No Record Found No Record Found No Record Found - All amount quoted in this report are in Hong Kong Dollars unless otherwise stated. P. 12 of 13

Credibility Subject is mainly engaged in Automatic board testing, Automation systems, Board coating, Board painting and Board washing. Reference checking for the purpose of establishing the firm's reputation within the respective industry failed to reveal any negative information. The risk index of subject is medium at average level. In consideration of any other influencing factors relevant to the final assessment, credit rating C+ was given and the proposed credit amount of subject is USD 100,000.00 and 60 days of period. Note: Credit Rating Score Status Recommendation Grade A 85 100 Good Highly recommended Grade B 75 84 Satisfactory Recommended Grade C 60 74 Average On normal monitoring basis Grade D 50 59 Marginal Under secured basis or close monitor Grade E 0 49 High risk Not recommended NR No rating owing to insufficient data available No recommendation End of the Report This credit information report is produced by InformLink Consultancy Limited. If you have any enquiries towards this report, please contact us at 3769 8888. - All amount quoted in this report are in Hong Kong Dollars unless otherwise stated. P. 13 of 13