Company Report :: DATA COMMERCIAL INDONESIA

1. A d d r e s s                 :    Head Office
                                              Jalan Jenderal Gatot Subroto
                                              Bandung 12345
                                              West Java
                                              Phone - (022) 731XXX
                                              Fax. – (022) 731XXX

                                            Branch Office
                                              Jalan Jenderal Gatot
                                              Bandung 12345
                                              West Java
                                              Phone – (022) 731XXX

2. Date of Establishment : 16 March 1999

3. Legal Status : P.T. (Perseroan Terbatas) or Limited Liability
Company

4. Legalization by the
Ministry of Justice : No. C2-16xxx.HT.01.04.TH'99
Dated 24 September 1999

5. C a t e g o r y : National Private Company

6. Permit by the
Government Department : The Directorate General for Tax and Revenue
NPWP No. 1.883.xxx.2-000

The Department of Trade and Industry
TDP No. xx11152xxxxx

7. Lines of Business            :    a. General Trading
                                                b. Trading and Distribution Motorcycle

                                                Dealer for :
                                                SUZUKI Motorcycle of Japan

8. Production Capacity : None

9. Business Trend : Growing slowly

10. Market Situation : Very competitive

11. Capitalization                  :     Authorized Capital - Rp 90,000,000
                                                 Issued Capital        - Rp 90,000,000
                                               Paid up Capital       - Rp 90,000,000

                                               Shareholders :
                                                 a. Mr. xx1 - Rp 30,000,000
                                                 b. Mr. xx2 - Rp 30,000,000
                                               c. Mr. xx3 – Rp 30,000,000

12. Total Investment : None

13. B a n k e r s                     :    P.T. Bank Negara Indonesia 1946
                                                 Bandung Branch
                                                 Jalan Asia Afrika No. 122-124
                                                 West Java

14. Started Operation : 1999

15. Total Employees : 200 persons

16. Board of Commissioner : Commissioner - Mr. xx3

17. Board of Director : President Director - Mr. xx1
Director - Mr. xx2

18. Financial Conditions : Fairly strong

19. Total Revenue                    :   1999 - Rp 1.0 billion
                                                2000 - Rp 1.5 billion
                                                  2001 – Rp 2.5 billion

20. Management Capability : G o o d

21. Business Morality : G o o d

22. Creditworthiness : Any new proposed loans for the company must be
treated carefully.

23. Maximum Limit of Credit : No Comment

24. Precautions : Asking adequate personal guarantee from the
shareholders.

25. Signatories                        :    President Director (Mr. xx1)
                                                or the Director (Mr. xx2) which must be
                                                  approved by the Commissioner (Mr. xx3).

26. Affiliated Companies : Toko xxx (Trading and Distribution of
Automotive Parts)

Remarks on: 11 March 2004

P.T. XXX INDONESIA

P.T. XXX INDONESIA (P.T. XI) was established in 16 March 1999 with an authorized capital of Rp 90,000,000, entirely issued and paid up. The original founding shareholders were Mr. XX1, Mr. XX2 and Mrs. XX3 (they are Indonesian entrepreneurs of Chinese extraction). The company’s articles of associations has amended for several times. In 14 April 1999 one of the shareholder Mrs. XX3 and changed to as a new shareholder is Mr. XX1, an Indonesian entrepreneur of Chinese extraction.

P.T. XI has been operated since 1999 in general trading among others are trading and distribution of motorcycle. The company is an agent for SUZUKI Motorcycle of Japan. The products are distributed for Bandung area and surroundings. The company’s operation has been growing slowly and running well within the last three years.

The demand for motorcycle in Indonesia has been fluctuating in the last five years. According to the data from the AISI (Association of Indonesian Motorcycle Industry) the sales volume of Indonesian motorcycle in 1997 has reached 1,852,906 units and decreased to 492,626 units in 1998 and increased respectively to 587,402 units in 1999 and to 979,422 units in 2000 and to 1,500,000 units in 2001. Market competition is very competitive because many similar companies are operating in their area. Business position of P.T. XI is appraised not so critical for it has already controlled a wide marketing network at Bandung area and surroundings. We are sure the company is highly competent to develop its business in the future.

We estimate its operation has in 1999 posted a total sales of Rp 1.0 billion increased respectively to Rp 1.5 billion in 2000 to Rp 2.5 billion in 2001 and projected to go on rising by 5% in 2002. Its operation has in 2001 to our estimate yielded a total net profit of Rp 150 million.

The management is headed by Mr. XX1 (55), a businessman with experience for some 5 years in motorcycle distribution. The company is handled by a number of professional managers. They have already maintained a wide business relation among private companies at home as well as among government agencies. As far as business is concerned the management of P.T. XI has never involved in any fraudulent dealings. P.T. XXX INDONESIA is good for normal business transactions. But considering the economic condition is still unstable, we would like to recommend treat prudently in dealing with any new loans by asking adequate personal guarantee from the shareholders.