MIRA INFORM REPORT

Report Date :

07.08.2010

IDENTIFICATION DETAILS

Name :	CENTURY INTERNATIONAL ALLIANCE PTE LTD.

Registered Office :	33 Bishan Street 21 #14-11 Rafflesia Condominium Singapore 579801

Country :	Singapore

Date of Incorporation :	17.10.2007

Com. Reg. No.:	200719273Z

Legal Form :	Exempt Pte Ltd

Line of Business :	Wholesale of Petrochemical Products

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate

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 – June 30, 2010

Country Name

Previous Rating

(01.04.2010)

Current Rating

(30.06.2010)

Singapore

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Subject Company

CENTURY INTERNATIONAL ALLIANCE PTE. LTD.

Line Of Business

WHOLESALE OF PETROCHEMICAL PRODUCTS.

Parent Company : N/A

Financial Elements

Sales : N/A

Networth : N/A

Paid-Up Capital : S$5,000

Net result : N/A

Net Margin(%) : N/A

Return on Equity(%) : N/A

Leverage Ratio : N/A

COMPANY IDENTIFICATION

Subject Company :	CENTURY INTERNATIONAL ALLIANCE PTE.LTD.
Business Address:	33 BISHAN STREET 21 #14-11 RAFFLESIA CONDOMINIUM
Town:	SINGAPORE
Postcode:	579801
Country:	Singapore
Telephone:	-
Fax:	-
ROC Number:	200719273Z
Easy Number company:	00005630019128

SUMMARY

Legal Form:	Exempt Pte Ltd
Date Inc.:	17/10/2007
All amounts in this report are in :	SGD
Paid-Up Capital:	5,000

BASED ON ACRA'S RECORD

                                              NO OF SHARES      CURRENCY             AMOUNT

ISSUED ORDINARY                5,000                       SGD                        5,000.00

PAID-UP ORDINARY               -                              SGD                        5,000.00

AUDITOR : KEN TAN & CO

REFERENCES

Litigation:	No
Company status :	TRADING
Started :	17/10/2007

PRINCIPAL(S)

FANSIANTO MARTA

S7176875I

Director

DIRECTOR(S)

TJENG NIE NIE	S2222495F	Company Secretary
Appointed on :	17/10/2007
Street :	33 BISHAN STREET 21 #14-11 RAFFLESIA CONDOMINIUM
Town:	SINGAPORE
Postcode:	579801
Country:	Singapore

FANSIANTO MARTA	S7176875I	Director
Appointed on :	17/10/2007
Street :	234 PASIR RIS DRIVE 4 #09-480
Town:	SINGAPORE
Postcode:	510234
Country:	Singapore

ACTIVITY(IES)

Activity Code:	16350	PETROLEUM PRODUCTS
Activity Code:	3970	CHEMICALS

BASED ON ACRA'S RECORD

1) WHOLESALE OF PETROCHEMICAL PRODUCTS

2) WHOLESALE OF CHEMICALS AND CHEMICAL PRODUCTS

SHAREHOLDERS(S)

RAKASAKTI KURNIAWAN

5,000

Private Person

Street :	33 BISHAN STREET 21 #14-11 RAFFLESIA CONDOMINIUM
Town:	SINGAPORE
Postcode:	579801
Country:	Singapore

PAYMENT HISTORY AND EXPERIENCES

Trade Morality:	AVERAGE
Liquidity :	UNKNOWN
Payments :	REGULAR
Trend :	LEVEL
Financial Situation:	UNKNOWN

FINANCIAL COMMENTS

NOTE: THE SUBJECT DID NOT FILE ITS FINANCIALS FOR THE YEAR 2007.

PLEASE REFER TO THE LIMITED EXEMPT PRIVATE COMPANY CLAUSE BELOW FOR

FURTHER INFORMATION.

EXEMPT PRIVATE COMPANY

WHERE THE SHARES OF A PRIVATE COMPANY ARE NOT OWNED BY ANY CORPORATE

BODY AND THERE ARE NO MORE THAN 20 MEMBERS, THE PRIVATE COMPANY IS

KNOWN AS AN EXEMPT PRIVATE COMPANY.

AN EXEMPT PRIVATE COMPANY ENJOYS A GREATER AMOUNT OF PRIVACY THAN A

PRIVATE COMPANY. IT IS NOT REQUIRED TO FILE ACCOUNTS WITH THE

REGISTRAR IF IT CAN PRODUCE A CERTIFICATE SIGNED BY ONE OF ITS

DIRECTORS, SECRETARY AND AUDITOR CONFIRMING THE FOLLOWING POINTS:

1.             THE COMPANY IS AN EXEMPT PRIVATE COMPANY.

2.             THE AUDITED ACCOUNTS HAVE BEEN TABLED BEFORE THE SHAREHOLDERS

AT THE ANNUAL GENERAL MEETING.

3.             THE COMPANY IS ABLE TO MEET ITS LIABILITIES.

THERE IS THEREFORE NO DISCLOSURE TO THE PUBLIC OF THE ACCOUNTS OF THE

COMPANY ALTHOUGH THE ACCOUNTS STILL HAVE TO BE AUDITED EVERY YEAR AND

APPROVED AT AN ANNUAL GENERAL MEETING OF THE COMPANY.

A PRIVATE COMPANY THAT IS WHOLLY OWNED BY THE GOVERNMENT MAY BECOME AN

EXEMPT PRIVATE COMPANY IF THE MINISTER FOR FINANCE, IN THE NATIONAL

INTEREST, DECLARES IT TO BE SUCH BY A GAZETTE NOTIFICATION.

EXEMPT FROM AUDIT

AN EXEMPT PRIVATE COMPANY IS EXEMPT FROM AUDIT REQUIREMENTS IF THE

STARTING DATE OF ITS FINANCIAL YEAR IS BETWEEN 15 MAY 2003 AND 31 MAY

2004 AND ITS TURNOVER FOR THAT FINANCIAL YEAR DOES NOT EXCEED $2.5

MILLION. FOR FINANCIAL YEARS STARTING 1 JUNE 2004, THE AMOUNT OF THE

TURNOVER HAS BEEN RAISED TO $5 MILLION. THESE COMPANIES ARE STILL

REQUIRED TO MAINTAIN PROPER ACCOUNTING.

BACKGROUND/OPERATION

THE COMPANY WAS INCORPORATED IN THE REPUBLIC OF SINGAPORE ON

17/10/2007 AS A LIMITED EXEMPT PRIVATE COMPANY AND IS TRADING UNDER

ITS PRESENT NAMESTYLE AS "CENTURY INTERNATIONAL ALLIANCE PTE. LTD.".

THE COMPANY HAS AN ISSUED AND PAID-UP CAPITAL OF

5,000 SHARES, OF A VALUE OF S$5,000.

PRINCIPAL ACTIVITIES:

SUBJECT IS REGISTERED WITH THE ACCOUNTING AND CORPORATE REGULATORY

AUTHORITY (ACRA) TO BE PRINCIPALLY ENGAGED IN THE BUSINESS OF:

1) WHOLESALE OF PETROCHEMICAL PRODUCTS

2) WHOLESALE OF CHEMICALS AND CHEMICAL PRODUCTS

THE COMPANY WAS NOT LISTED IN THE SINGAPORE LOCAL DIRECTORIES.

FROM THE RESEARCH DONE, NO INFORMATION AVAILABLE ON THIS COMPANY.

WE TRIED CHECKING IN THE INTERNET THE RESIDENTIAL NUMBERS OF ITS

DIRECTOR, HOWEVER, RESIDENTIAL NUMBERS ARE ALSO NOT LISTED. HENCE, WE

ARE UNABLE TO LOCATE SUBJECT AT THE TIME OF THIS REPORT TO

GATHER OTHER TRADE FORMATION.

REGISTERED AND BUSINESS ADDRESS:

33 BISHAN STREET 21

#14-11

RAFFLESIA CONDOMINIUM

SINGAPORE 579801

DATE OF CHANGE OF ADDRESS: 17/10/2007

- RENTED PREMISE

- PREMISE OWNED BY: TJENG NIE NIE

WEBSITE: -

EMAIL  : -

MANAGEMENT

THE DIRECTOR AT THE TIME OF THIS REPORT IS:

1) FANSIANTO MARTA, A SINGAPORE PERMANENT RESIDENT

   - HOLDS NO OTHER DIRECTORSHIPS AS RECORDED IN OUR DATABASE.

ADVERSE ON DIRECTORS

DIRECTOR'S NAME: FANSIANTO MARTA

ADVERSE REPORT AGAINST DIRECTOR: NOT AVAILABLE FROM OUR DATABASE

PROPERTY OWNERSHIP: OWNS 1

ANNUAL VALUE: S$6,900

CO-OWNER (S): PNG SEO LENG

*              ANNUAL VALUE IS THE ESTIMATED ANNUAL RENT THE PROPERTY CAN

FETCH IF IT WERE RENTED OUT. THE ANNUAL VALUE IS DETERMINED IN THE

SAME MANNER REGARDLESS OF WHETHER THE PROPERTY IS LET-OUT, OWNER-

OCCUPIED OR VACANT.

Investment Grade

AFTER STRONG 6.7-PER CENT GROWTH IN THE 2008 FIRST QUARTER, SINGAPORE'S ECONOMY SLIPPED INTO RECESSION FOR THE REST OF THE YEAR. THE ECONOMIC SLOWDOWN IS ATTRIBUTABLE MAINLY TO A NEGATIVE NET EXPORT CONTRIBUTION TO GROWTH AS A RESULT OF WEAKER PERFORMANCE BY THE COUNTRY'S MAIN TRADING PARTNERS, MALAYSIA, UNITED STATES, CHINA, JAPAN, AND INDONESIA. EXPORTS, WHICH REPRESENT 210 PER CENT OF GDP, SLOWED IN BOTH MANUFACTURING (ELECTRONICS, PHARMACEUTICALS, AND PETROCHEMICALS) AND SERVICES (FINANCIAL SERVICES, TOURISM). BESIDES, DOMESTIC DEMAND SLUMPED.

CONSUMPTION SAGGED AMID AN UPSURGE OF INFLATION (WITH SINGAPORE COVERING ALL ITS ENERGY AND FOOD NEEDS THROUGH IMPORTS) AND A NEGATIVE WEALTH EFFECT ASSOCIATED WITH THE FALL OF STOCK MARKET PRICES WHILE INVESTMENT SUFFERED FROM THE CREDIT CRUNCH. IN 2009, ECONOMIC GROWTH COULD BE NEGATIVE FOR THE ENTIRE YEAR WITH INDUSTRIALISED AND EMERGING-ASIAN ECONOMIES EXPECTED TO WEAKEN. DOMESTIC DEMAND IS MOREOVER LIKELY TO REMAIN SLUGGISH. IN THIS CONTEXT, CORPORATE PAYMENT BEHAVIOUR, ALBEIT STILL SATISFACTORY ACCORDING TO COFACE RECORDS, COULD DETERIORATE.

PUBLIC SECTOR FINANCES REMAIN SOLID ENABLING THE GOVERNMENT TO ENVISAGE A FISCAL STIMULUS IN 2009. SINGAPORE CONTINUED MOREOVER TO RUN A LARGE EXTERNAL SURPLUS, DESPITE A NARROWING CURRENT ACCOUNT SURPLUS ATTRIBUTABLE TO THE SLOWDOWN IN EXPORTS OF ELECTRONIC PRODUCTS, PHARMACEUTICALS, PETROCHEMICALS, AND FINANCIAL SERVICES AS WELL AS IN TOURISM AND THE INCREASE IN IMPORTS DUE TO THE RISE OF RAW MATERIAL PRICES. EVEN WITH RAW MATERIAL PRICES EASING IN 2009, THE CURRENT ACCOUNT SURPLUS IS EXPECTED TO SHRINK FURTHER DUE TO THE EXPECTED FALL OF EXPORTS IN VALUE TERMS.

SINGAPORE HAS, HOWEVER, SUFFERED FROM THE VOLATILITY OF PORTFOLIO INVESTMENT FLOWS AS EVIDENCED BY THE SINGAPORE DOLLAR DEPRECIATION, WHICH COULD PERSIST IN 2009 IN A HIGHLY VOLATILE CONTEXT. NEVERTHELESS, THANKS TO THE HIGH LEVEL OF ITS FOREIGN EXCHANGE RESERVES, THE COUNTRY HAS THE CAPACITY TO COPE EFFECTIVELY WITH SUDDEN CAPITAL FLIGHT.
DESPITE THE INTERNATIONAL FINANCIAL TURBULENCE AND THE EXPOSURE OF SOME BANKS TO THE SUBPRIME CRISIS AND THE LEHMAN BROTHERS BANKRUPTCY, THE BANKING SYSTEM HAS REMAINED SOLID THANKS TO EFFECTIVE RISK MANAGEMENT AND COMPLIANCE TO BASLE II PRUDENTIAL NORMS.

ASSETS

SINGAPORE'S QUALITY-COMPETITIVENESS IS AMONG THE MOST ADVANCED IN ASIA.
A STRATEGY OF DIVERSIFICATION, ESPECIALLY TO HIGH VALUE-ADDED SECTORS (CHEMICALS, PHARMACEUTICALS, AND FINANCE), CONSTITUTES A DEFINITE ASSET TO THE SINGAPORE ECONOMY.
THE COUNTRY ATTRACTS SUBSTANTIAL INFLOWS OF FOREIGN DIRECT INVESTMENT THANKS TO AN ADVANTAGEOUS TAX REGIME, POLITICAL STABILITY, AND AN EXCELLENT BUSINESS ENVIRONMENT.
SINGAPORE HAS BECOME A MAJOR EXPORTER OF CAPITAL WITHIN ASIA IN MANY SECTORS INCLUDING FINANCE, TELECOMMUNICATIONS, TRANSPORT, FOR EXAMPLE, ESSENTIALLY VIA THE STATE-CONTROLLED HOLDING COMPANY TEMASEK.

WEAKNESSES

THE COUNTRY'S VERY OPEN ECONOMY IS VULNERABLE TO A WORLD ECONOMIC DOWNTURN.
SHORTAGES OF SKILLED LABOUR HAVE HAMPERED SECTORS SINGAPORE SEEKS TO DEVELOP AND AFFECTED THE GROWTH OUTLOOK.
AN AGING POPULATION COULD ULTIMATELY UNDERMINE ECONOMIC DYNAMISM.
SOCIAL TENSIONS COULD EMERGE IN A CONTEXT OF GROWING INEQUALITY AND INCREASING LONG-TERM UNEMPLOYMENT AMONG LESS-SKILLED JOBSEEKERS.

WHOLESALE AND RETAIL TRADE SECTOR

PAST PERFORMANCE

THE WHOLESALE AND RETAIL TRADE SECTOR FELL BY A SMALLER 8.8% IN 3Q 2009, SLOWER THAN THE 14.0% DECLINE IN 2Q 2009. IT WAS ATTRIBUTED TO SLOWER DECLINE RATES IN REAL NON-OIL DOMESTIC EXPORTS AND NON-OIL RE-EXPORTS IN 3Q 2009.

THE PACE OF DECLINE IN THE VOLUME OF RETAIL SALES HAS ALSO MODERATED. COMPARED TO THE SIGNIFICANT 12.0% DECLINE IN 2Q 2009, RETAIL SALES FELL BY A SMALLER 10.0% IN 3Q 2009. EXCLUDING MOTOR VEHICLES SALES, THE DECLINE WAS 2.0%.

RETAIL SALES SEGMENTS WHICH RECORDED GROWTH INCLUDE DEPARTMENT STORES (1.1%), AND PROVISION AND SUNDRY SHOPS (1.3%). THE WATCHES AND JEWELLERY, AND FURNITURE AND HOUSEHOLD EQUIPMENT SEGMENTS RECORDED SMALLER DECLINES OF 13.0% AND 1.7% RESPECTIVELY IN 3Q 2009, COMPARED TO THE -18% AND -7.1% REGISTERED IN 2Q 2009.

DOMESTIC WHOLESALE TRADE INDEX

DOMESTIC WHOLESALE TRADE (SEASONALLY ADJUSTED) REGISTERED POSITIVE GROWTHS IN 3Q 2009 OVER 2Q 2009 AFTER SEASONAL ADJUSTMENT.

PETROLEUM AND PETROLEUM PRODUCTS, AND CHEMICALS AND CHEMICAL PRODUCTS REGISTERED IMPROVEMENTS OF 13.2% AND 16.5% RESPECTIVELY. AFTER REMOVING PRICE EFFECT, DOMESTIC SALES VOLUME OF THE SECTORS GREW BY 1.4% AND 13.3% RESPECTIVELY.

LIKEWISE, DOMESTIC SALES OF SHIP CHANDLERS AND BUNKERING, TIMBER, PAINTS AND CONSTRUCTION MATERIALS, AND GENERAL WHOLESALE TRADE ROSE BY BETWEEN 9.6% AND 11.1% IN 3Q 2009 COMPARED TO 2Q 2009.

ON THE OTHER HAND, INDUSTRIAL AND CONSTRUCTION MACHINERY SECTOR REGISTERED A DECLINE OF 7.8% IN DOMESTIC SALES OVER 2Q 2009.

ON A YEAR-ON-YEAR BASIS, DOMESTIC WHOLESALE TRADE FELL IN 3Q 2009 FOR MOST WHOLESALE TRADE SECTORS.

DOMESTIC WHOLESALE TRADE OF PETROLEUM AND PETROLEUM PRODUCTS, SHIP CHANDLERS AND BNNKERING, AND CHEMICALS AND CHEMICAL PRODUCTS WERE BETWEEN 11.3% AND 38.9% LOWER THAN A YEAR AGO, LARGELY DUE TO LOWER PRICES.

AFTER REMOVING PRICE EFFECT, SALES VOLIME OF PETROLEUM AND PETROLEUM PRODUCTS, CHEMICALS AND CHEMICAL PRODUCTS ROSE BY 14.9% AND 28.2% RESPECTIVELY, WHILE THAT OF SHIP CHANDLERS AND BUNKERING MAINTAINED AT SIMLAR LEVEL.

SIMILARLY, THE GENERAL WHOLESALE TRADE, ELECTRONIC COMPONENTS, TIMBER, PAINTS AND CONSTRUCTION MATERIALS, AND TRANSPORT EQUIPMENT ALSO REGISTERED YEAR-ON-YEAR DECLINES OF BETWEEN 12.3% AND 23.9%

CONVERSELY, HOUSEHOLD EQUIPMENT AND FURNITURE SECTOR REGISTERED A MARGINAL RISE OF 1.7% IN SALES OVER 3Q2008.

FOREIGN WHOLESALE TRADE INDEX

FOREIGN WHOLESALE TRADE (SEASONALLY ADJUSTED) RECORDED MIXED PERFORMANCE IN FOREIGN SALES IN 3Q 2009 COMPARED TO 2Q 2009.

THE SHIP CHANDLERS AND BUNKERING, PETROLEUM AND PETROLEUM PRODUCTS, TIMBER, PAINTS AND CONSTRUCTION MATERIALS, TELECOMMUNICATIONS AND COMPUTERS, HOUSEHOLD EQUIPMENT AND FURNITURE, AND CHEMICALS AND CHEMICAL PRODUCTS REGISTERED INCREASES OF 6.2% TO 19.4% IN SALES COMPARED TO 2Q 2009.

ON THE OTHER HAND, FOOD, BEVERAGES AND TOBACCO, ELECTRONIC COMPONENTS, INDUSTRIAL AND

CONSTRUCTION MACHINERY, AND GENERAL WHOLESALE TRADE RECORDED LOWER SALES OF BETWEEN 2.3% AND 10.0%.

ALL SECTORS RECORDED LOWER FOREIGN SALES IN 3Q 2009 COMPARED TO 3Q 2008.

THE PETROLEUM AND PETROLEUM PRODUCTS, AND SHIP CHANDLERS AND BUNKERING SECTORS CONTRACTED 35.7% DUE TO LOWER OIL PRICES.

AFTER ADJUSTING FOR PRICE CHANGES, FOREIGN TRADE VOLUME OF THESE TWO SECTORS SHOWED YEAR-ON-YEAR INCREASES OF 6.9% AND 7.2% RESPECTIVELY.

OTHER SECTORS THAT RECORDED RELATIVELY SIGNIFICANT DECLINES IN 3Q 2009 OVE 3Q 2008 ARE

GENERAL WHOLESALE TRADE (-35.7%), INDUSTRIAL AND CONSTRUCTION MACHINERY (-33.0%),

CHEMICALS AND CHEMICAL PRODUCTS (-26.6%), TIMBER, PAINTS AND CONSTRUCTION MATERIALS

(-23.7%), ELECTRONIC COMPONENTS (-19.8%) TRANSPORT EQUIPMENT (-19.2%), AND HOUSEHOLD EQUIPMENT AND FURNITURE (-15.1%)

NEWS

REBOUND IN RETAIL SALES IN OCTOBER

CONSUMERS STARTED TO EASE OPEN THEIR WALLETS IN OCTOBER IN RESPONSE TO A IMPROVING

ECONOMIC OUTLOOK.

RETAIL SALES DURING THE MONTH WERE 6.0% HIGHER THAN IN SEPTEMBER – THE BIGGEST MONTHLY RISE SINCE FEBRUARY AND A MARKED CONTRAST TO THE 8.0% DECLINE SEEN IN SEPTEMBER.

“RETAIL SALES LOOK TO CONTINUE IMPROVING, IN LINE WITH THE ECONOMIC REOVERY AND BETTER CONSUMER SENTIMENT,” SAID UOB ECONOMIST CHOW PENN NEE.

“JOB LOSSES HAVE ALSO BEEN RELATIVELY TAME, WHICH WILL BOOST CONSUMER SPENDING.”

HOWEVER, DESPITE OCTOBER’S IMPROVEMENT, RETAIL SALES ARE 4.4% LOWER THAN THEY WERE IN

OCTOBER 2008, ACCORDING TO FIGURES RELEASED BY THE DEPARTMENT OF STATISTICS.

BUT THIS YEAR-ON-YEAR DROP IS THE SMALLEST IN 10 MONTHS, AND MUCH LOWER THAN THE 12.0% DECLINE IN SEPTEMBER.

AFTER FALLING YEAR-ON-YEAR FOR 13 STRAIGHT MONTHS – STARTING FROM OCTOBER LAST YEAR WHEN THE FINANCIAL CRISIS TOOK HOLD – SALES MAY FINALLY TURN POSITIVE EARLY NEXT YEAR, MS CHOW BELIEVED.

“WE MIGHT SEE AN YEAR-ON-YEAR INCREASE IN JANUARY OR FEBRUARY NEXT YEAR, DUE TO THE LOW BASE EFFECT, SHE SAID.

CAR SALES ROSE SHARPLY IN OCTOBER, WITH SHOWROOMS SELLLING 8.1% MORE VEHICLES THAN THEY DID IN SEPTEMBER. EXCLUDING MOTOR VEHICLES, OVERALL RETAIL SALES WOULD HAVE DECLINED BY 1.9%, INSTEAD OF GROWING BY 6.0%.

THE STRONG CAR SHOWING IS LIKELY TO BE A BLIP RATHER THAN THE START OF A SUBSTAINABLE UPWARD TREND, SAID MS CHOW.

SHE SAID CONSUMERS MAY HAVE RUSHED TO BUY VEHICLES IN OCTOBER DUE TO THE GOVERNMENT’S ANNOUNCEMENT OF A REDUCTION IN THE SUPPLY OF CERTIFICATES OF ENTITLEMENTS (COEs) IN SEPTEMBER.

RETAILERS OF FOOD AND BEVERAGES ALSO FARED WELL IN OCTOBER COMPARED WITH SEPTEMBER, WITH AN 8.2% JUMP IN SALES.

DEPARTMENT STORES DID ALMOST AS WELL, REGISTERING A 7.2% SALES INCREASE FOR THE PERIOD.

RETAILERS OF WATCHES AND JEWELLERY POSTED A 7.5% RISE IN SALES, WHILE THOSE SELLING TELECOMMUNICATIONS GADGETS AND COMPUTERS SOLD 5.3% MORE.

SUPERMARKETS RECORDED LOWER SALES IN OCTOBER – BY 3.1% - WHILE PROVISION SHOP SALES DIPPED 1.7%.

RETAILERS OF RECREATIONAL GOODS AND FURNITURE AND HOUSEHOLD EQUIPMENT WERE ALSO AFFECTED, WITH SALES DECLINING BY BETWEEN 2.5 AND 4.3%.

OUTLOOK

A NET WEIGHTED BALANCE OF 23% OF WHOLESALERS FORECAST THE BUSINESS TO IMPROVE FOR THE PERIOD ENDING MAR 2010. IN PARTICULAR, THOSE DEALING WITH INDUSTRIAL MACHINERY AND EQUIPMENT, AND MOTOR VEHICLES ARE FORECASTING AN INCREASE IN BUSINESS ACTIVITY.

A NET WEIGHTED BALANCE OF 27% OF RETAILERS PREDICTS HIGHER BUSINESS ACTIVITIES FOR THE MONTHS ENDING MAR 2010. THIS APPLIES TO DEPARTMENT STORES, RETAILERS OF CLOTHING AND FOOTWEAR, JEWELLERY AND WATCHES.

EXTRACTED FROM: MINISTRY OF TRADE AND INDUSTRY, SINGAPORE

SINGAPORE DEPARTMENT OF STATISTICS

THE STRAITS TIMES

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.46.02
UK Pound	1	Rs.73.21
Euro	1	Rs.60.70

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	Capability to overcome financial difficulties seems comparatively below average.	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

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

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