MIRA INFORM REPORT

Report Date :

28.02.2007

IDENTIFICATION DETAILS

Name :	MAHESH TRADING EST
Registered Office :	Hamood Bin Hamad Sons Building, Al Ras Street, Al Ras, P O Box 64375, Dubai
Country :	United Arab Emirates
Financials (as on) :	31.12.2006
Date of Incorporation :	19.09.2004
Com. Reg. No.:	103999
Legal Form :	Sole Proprietorship
Line of Business :	Import and distribution of fruit and vegetables, grain, cereals and beverages.

RATING & COMMENTS

MIRA’s Rating :

Ba

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	US$ 150,000
Status :	Satisfactory
Payment Behaviour :	Regular
Litigation :	Clear

SUMMARY

Company Name : MAHESH TRADING EST

Country of Origin : Dubai, United Arab Emirates

Legal Form : Sole Proprietorship

Registration Date : 19^th September 2004

Commercial Registration Number : 103999, Dubai

Trade Licence Number : 561327

Membership Number : 90977

Invested Capital : UAE Dh 100,000

Total Workforce : 3

Line of Business : Distributors of fruit and vegetables, grain, cereals and beverages.

Financial Condition : Fair

Payments : Nothing detrimental uncovered

Operating Trend : Steady

COMPANY NAME

MAHESH TRADING EST

ADDRESS

Registered & Physical Address

Building : Hamood Bin Hamad Sons Building

Street : Al Ras Street

Area : Al Ras

PO Box : 64375

Town : Dubai

Country : United Arab Emirates

Telephone : (971-4) 2265120

Facsimile : (971-4) 2265401

Premises

Subject operates from a small suite of offices and a showroom that are rented and located in the Central Business Area of Dubai.

KEY PRINCIPALS

· Mahesh Mathra Das Proprietor & General Manager

LEGAL FORM & OWNERS

Date of Establishment : 19^th September 2004

Legal Form : Mouassasa Khassa (Sole Proprietorship)

Commercial Reg. No. : 103999, Dubai

Trade Licence No. : 561327 (Expires 12^th September 2008)

Membership No. : 90977

Invested Capital : UAE Dh 100,000

Mr Mahesh Mathra Das is the sole proprietor of the business.

Note to the Legal Form

Commonly referred to as an establishment, the Company Law defines Mouassasa Khassa as the business of an individual where liability for all debts is unlimited. The business is the entire responsibility of its proprietor, who is liable for all its debts to the extent of his entire wealth. There are no legal requirements concerning the amount of capital of a sole proprietor.

LINE OF BUSINESS

Operations : Engaged in the import and distribution of fruit and vegetables, grain, cereals and beverages.

Import Countries : Europe and GCC countries.

Operating Trend : Steady

Subject has a workforce of 3 employees.

FINANCIAL HIGHLIGHTS

Financial highlights provided by outside sources are given below :

Currency : United Arab Emirates Dirham (UAE Dh)

Year Ending 31/12/05 : Year Ending 31/12/06 :

Total Revenue UAE Dh 3,780,000 UAE Dh 4,000,000

Local sources consider subject’s financial condition to be Fair.

BANKERS

· Bank of Baroda

PO Box : 3162

Dubai

Tel : (971-4) 5531955

Fax : (971-4) 5536962

PAYMENT HISTORY

No complaints regarding subject’s payments have been reported.

GENERAL COMMENTS

Opinion on the credit figure of US$ 150,000

Established in 2004, subject is owned and managed by Mr Mahesh Mathra Das who is well respected in the local business community.

During the course of this investigation nothing detrimental was uncovered regarding subject’s operating history or the manner in which payments are fulfilled. As such the business is considered to be a fair trade risk and the above credit figure is deemed to be within subject’s financial means.

Maximum suggested credit figure: US$ 150,000

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
NR		In view of the lack of information, we have no basis upon which to recommend credit dealings	No Rating

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 and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

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