MIRA INFORM REPORT

Report Date :

07.08.2010

IDENTIFICATION DETAILS

Name :	EXXONMOBIL CHEMICAL ASIA PACIFIC

Registered Office :	1 Harbourfront Place #06-00, Singapore 098633

Country :	Singapore

Date of Incorporation :	27.05.1999

Com. Reg. No.:	52893724C

Legal Form :	Sole Proprietor

Line of Business :	Other Support Activities.

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
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

Maximum Credit Limit :	USD 298,605,000
Status :	Good
Payment Behaviour :	Unknown
Litigation :	Exists

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 – April 1, 2010

Country Name

Previous Rating

(31.12.2009)

Current Rating

(01.04.2010)

Singapore

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

Subject Company

EXXONMOBIL CHEMICAL ASIA PACIFIC

Line Of Business

OTHER SUPPORT ACTIVITIES.

Parent Company

N/A

Financial Elements

Sales : N/A

Networth : N/A

Paid-Up Capital : N/A

Net result : N/A

Net Margin(%) : N/A

Return on Equity(%): N/A

Leverage Ratio : N/A

COMPANY IDENTIFICATION

Subject Company :	EXXONMOBIL CHEMICAL ASIA PACIFIC
Former Name :	EXXON CHEMICAL ASIA PACIFIC DATE OF CHANGE : 14/03/2000
Business Address:	1 HARBOURFRONT PLACE #06-00
Town:	SINGAPORE
Postcode:	098633
Country:	Singapore
Telephone:	6885 8000
Fax:	6885 8405
ROC Number:	52893724C
Easy Number company:	00000569433350

PREVIOUS IDENTIFICATION

EXXON CHEMICAL ASIA PACIFIC DATE OF CHANGE : 14/03/2000

SUMMARY

Legal Form:	Sole Proprietor
Date Inc.:	27/05/1999
Summary year :
All amounts in this report are in :
Sales:
Capital:
Paid-Up Capital:
Employees:	2,000
Net result :
Share value:

REFERENCES

Credit Opinion:

CREDIT LINE TO A MAXIMUM OF USD 298,605,000 CAN BE CONSIDERED

Litigation:	No
Company status :	TRADING
Started :	26/05/1999

FORMER DIRECTOR(S)

ROBERT ERIC HARAYDA

710108715

ACTIVITY(IES)

Activity Code:

BUSINESS SERVICES

BASED ON ACRA'S RECORD

1) OTHER SUPPORT ACTIVITIES

SHAREHOLDERS(S)

EXXONMOBIL ASIA PACIFIC PTE. LTD.

Company

Street :	1 HARBOURFRONT PLACE #07-00 HARBOURFRONT TOWER ONE
Town:	SINGAPORE
Postcode:	098633
Country:	Singapore

FORMER SHAREHOLDER(S)

EXXONMOBIL CHEMICAL SINGAPORE PTE LTD

PAYMENT HISTORY AND EXPERIENCES

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

FINANCIAL COMMENTS

SOLE PROPRIETORSHIP:

BEING A SOLE PROPRIETORSHIP BUSINESS, THERE IS NO OBLIGATIONS ON THE

PART OF THE OWNER TO SUPPLY REGULAR FINANCIAL UPDATES TO THE REGISTRY

OF COMPANIES AND BUSINESSES.THE CREDIT OPINION IS BASED ON

NON-FINANCIAL INDICATORS AS WELL AS OTHER BUSINESS ELEMENTS

AND DATA AVAILABLE.

NO FINANCIAL INFORMATION WAS REVEALED BY THE MANAGEMENT.

BACKGROUND/OPERATION

THE SUBJECT WAS REGISTERED IN THE REPUBLIC OF SINGAPORE ON 27/05/1999

AND COMMENCED BUSINESS ON 27/05/1999 AS A SOLE PROPRIETORSHIP AND IS

TRADING UNDER THE NAMESTYLE AS "EXXON CHEMICAL ASIA PACIFIC".

SUBSEQUENTLY, ON 14/03/2000, THE SUBJECT CHANGED TO ITS PRESENT

NAMESTYLE AS "EXXONMOBIL CHEMICAL ASIA PACIFIC".

THE LICENCE WAS RENEWED ON 07/04/2010 AND WILL EXPIRE ON 27/05/2011.

THE BUSINESS WAS FIRST STARTED BY EXXON CHEMICAL SINGAPORE PTE

LTD ON 26/05/1999. ON 01/01/2001, EXXONMOBIL ASIA PACIFIC PTE. LTD.

TOOK OVER THE BUSINESS.

PRINCIPAL ACTIVITIES:

SUBJECT IS REGISTERED WITH THE ACCOUNTING & CORPORATE REGULATORY

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

1) OTHER SUPPORT ACTIVITIES

FROM THE RESEARCH DONE, THE FOLLOWING INFORMATION WAS GATHERED:

BACKGROUND OF EXXONMOBIL CHEMICAL GROUP:

EXXONMOBIL CHEMICAL IS ONE OF THE LARGEST WORLDWIDE PETROCHEMICAL

COMPANIES. THE GROUP IS AN INTEGRATED MANUFACTURER AND GLOBAL MARKETER

OF OLEFINS, AROMATICS, FLUIDS, SYNTHETIC RUBBER, POLYETHYLENE,

POLYPROPYLENE, ORIENTED POLYPROPYLENE PACKAGING FILMS, PLASTICIZERS,

SYNTHETIC LUBRICANT BASESTOCKS, ADDITIVES FOR FUELS AND LUBRICANTS,

ZEOLITE CATALYSTS AND OTHER PETROCHEMICAL PRODUCTS.

WITH WORLDWIDE OPERATIONS, THE CHEMICAL COMPANY IS A SIGNIFICANT AND

GROWING PART OF EXXON MOBIL CORPORATION. THE GROUP IS AMONG THE TOP

THREE PETROCHEMICAL COMPANIES WITH MANUFACTURING LOCATIONS IN MORE

THAN 20 COUNTRIES. THE PRODUCTS ARE MARKETED IN MORE THAN 150

COUNTRIES.

SUBJECT ENGAGES IN THE FOLLOWING ACTIVITIES:

* CHEMICAL ASSOCIATES PROJECT MANAGEMENT

THERE ARE A NUMBER OF PLANTS IN SINGAPORE.

- PULAU AYER CHAWAN FLUIDS PLANT

MAILING ADDRESS:

JURONG POINT POST OFFICE, P.O. BOX 23

SINGAPORE 916401, SINGAPORE

THE SINGAPORE PLANT SUPPLIES INDUSTRIAL FLUIDS TO THE ASIA PACIFIC

MARKETS.

PRODUCTS:

* ALIPHATIC FLUIDS: EXXSOL AND EXXSOL D FLUIDS, EXX-PRINT FLUIDS,

  ESCAID FLUIDS

- JURONG PETROCHEMICAL COMPLEX

JURONG PARAXYLENE PLANT

18 PIONEER ROAD

JURONG, SINGAPORE 628498, SINGAPORE

- TEL: (65) 660 6000

THE EXXONMOBIL PETROCHEMICAL COMPLEX AT JURONG INTEGRATES A WORLD-

CLASS PETROCHEMICALS PLANT WITH A MODERN FUELS REFINERY.

WITH A CAPACITY OF 245,000 BARRELS A DAY, THE JURONG REFINERY REFINES

CRUDE OIL INTO PRODUCTS LIKE LIQUEFIED PETROLEUM GASOLINE, NAPHTHA,

GASOLINE, KEROSENE, DIESEL AND FUEL OIL. OUTPUT FROM THE

PETROCHEMICALS COMPLEX IS SOLD TO DOWNSTREAM COMPANIES THAT TRANSFORM

THEM INTO POLYESTER FIBERS, NYLON, TEXTILES, CARPETS, PLASTIC

PRODUCTS, PAINTS, DYE OR POLYSTYRENE PRODUCTS.

THE COMPLEX INCLUDES FACILITIES WITH MANUFACTURING CAPACITIES TO

PRODUCE 880 MILLION POUNDS OF PARAXYLENE, 660 MILLION POUNDS OF

BENZENE, 198 MILLION POUNDS OF ORTHOXYLENE, 500 MILLION POUNDS OF

CYCLOHEXANE AND 110 MILLION POUNDS OF TOLUENE EACH YEAR.

PRODUCTS:

* AROMATICS: BENZENE, TOLUENE, PARAXYLENE, ORTHOXYLENE

* CYCLOHEXANE

- SINGAPORE CHEMICAL PLANT

100 JURONG ISLAND HIGHWAY

SINGAPORE 627867

THIS HIGHLY INTEGRATED COMPLEX IS NOW SUPPLYING PETROCHEMICAL PRODUCTS

TO THE MARKETPLACE.

PRODUCTS:

* OLEFINS: ETHYLENE, PROPYLENE

* AROMATICS: BENZENE

* POLYETHYLENE

* POLYPROPYLENE

* OXO ALCOHOLS

BRANDS:

* ACHIEVE

* AUROPOL

* ADEVA

* BICOV

* CEKANOIC

* COPPCO

* DF-2000

* DIGILYTE

* EXXON MOBIL PE

* EXXON CHLOROBUTYL

* EXXON BROMOBUTYL

* EXXELOV

FROM THE TELE-INTERVIEW CONDUCTED WITH MISS YANI FROM FUND DESK

DEPARTMENT, THE FOLLOWING WAS GATHERED:

THE SUBJECT OCCUPIES THE 5TH, 6TH, 7TH, 8TH FLOOR AND 10TH FLOOR AT

1 HARBOURFRONT PLACE SINGAPORE 098633.

NUMBER OF EMPLOYEES:

* 2009: 2000 (HARBOURFRONT OFFICE)

NO OTHER TRADE INFORMATION WAS AVAILABLE ON 16/04/2010.

REGISTERED ADDRESS:

1 HARBOURFRONT PLACE

#07-00

SINGAPORE 098633

DATE OF CHANGE OF ADDRESS: 20/01/2003

BUSINESS ADDRESS:

1 HARBOURFRONT PLACE

#06-00

SINGAPORE 098633

OTHER BUSINESS ADDRESS:

1 HARBOURFRONT PLACE

#08/10-00

SINGAPORE 098633

WORLDWIDE HEAD OFFICES:

NORTH AMERICA, WORLDWIDE HEADQUARTERS

EXXONMOBIL CHEMICAL COMPANY

13501 KATY FREEWAY

HOUSTON, TX 77079-1398, USA

TEL.: (281) 870-6000

FAX: (281) 870-6661

EUROPE HEAD OFFICE

HERMESLAAN 2

1831 MACHELEN, BELGIUM

TEL: (32) 2 722 21 11

FAX: (32) 2 722 27 80

LATIN AMERICA HEAD OFFICE

EXXONMOBIL CHEMICAL COMPANY

13501 KATY FREEWAY

HOUSTON, TX 77079-1398, USA

TEL.: (281) 870-6000

FAX: (281) 870-6661

MIDDLE EAST AND AFRICA HEAD OFFICE

HERMESLAAN 2

1831 MACHELEN, BELGIUM

TEL: (32) 2 722 21 11

FAX: (32) 2 722 27 80

WEBSITE: http://www.exxonmobil.com.sg

EMAIL  : -

MANAGEMENT

THE OWNER AT THE TIME OF THIS REPORT IS

1) EXXONMOBIL ASIA PACIFIC PTE. LTD.

   - TOTAL EQUITY: US$1,990,701,000 (AS AT 31/12/2008)

   - AVERSE REPORT AGAINST OWNER: YES

     TYPE OF CASE: DISTRICT COURT - W/S

     CASE NO     : DCS00807/2008

     DEFENDANT   : EXXONMOBIL ASIA PACIFIC PTE. LTD.

     TYPE OF CASE: HIGH COURT - W/S

     CASE NO     : HWS00421/2006

     DEFENDANT   : EXXONMOBIL ASIA PACIFIC PTE. LTD.

Singapore’s Country Rating 2009

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, 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.

OVERVIEW OF SINGAPORE

PAST PERFORMANCE

IN 4Q 2009, The Singapore economy ROSE by 4.0%, AFTER REGISTERING A SMALLER 0.6% IN 3Q 2009. ALL MAJOR SECTORS RECORDED POSITIVE GROWTH, WITH CONSTRUCTION and financial services posting the highest growth.

FOR THE YEAR 2009, THE ECONOMY declined BY 2.0%, in contrast to 1.4% rise IN 2008. all major sectors contracted in 2009 with the exception of construction, business services and information and communications.

ON A SEASONALLY ADJUSTED ANNUALISED QUARTER-ON-QUARTER BASIS, REAL GROSS DOMESTIC PRODUCT (GDP) FELL BY 2.8%, FOLLOWING THE 11.5% growth IN 3Q 2009.

The manufacturinG Sector grew by 2.2%, moderating from the 7.6% in 3q 2009 due to slower growth in the biomedical manufacturing and transport engineering clusters, although all the other manufacturing clusters rose.

the construction sector grew by 11.2%, slightly slower than the 13.0% in 3q 2009.

THE SERVICES PRODUCING INDUSTRIES AS A WHOLE ROSE BY 4.1%, REVERSING FROM THE 2.3% DECLINE IN 3Q 2009, WITH GROWTH REGISTERED IN ALL MAJOR SECTORS.

The financial services sector EXPANDED STRONGLY BY 10.8% IN 4Q 2009, REVERSING THE 0.2% DECLINE IN 3Q 2009.

THE WHOLESALE AND RETAIL TRADE SECTOR ROSE BY 2.2% IN 4Q 2009, IN CONTRAST TO THE 8.8% DECLINE IN 3Q 2009. WHOLESALE TRADE, WHICH COMPRISES 89% OF THE SECTOR, FELL BY 9.1% IN 2009, DUE TO SLOWER GLOBAL TRADE. RETAIL TRADE FELL BY A SIMILAR 9.1%, ATTRIBUTED TO WEAKER HOUSEHOLD CONSUMPTION.

GROWTH IN THE TRANSPORT AND STORAGE SECTOR ROSE MARGINALLY BY 0.1% IN 4Q 2009, IN CONTRAST TO THE 7.5% DECLINE IN 3Q 2009.

The hotels and restaurants sector ROSE MARGINALLY BY 0.9% IN 4Q 2009, IN CONTRAST TO THE 2.5% DECLINE in 3Q 2009.

The information and communications sector rose by 1.6% in 4Q 2009, substantially GREATER than the 0.1% growth in 3Q 2009.

The business services sector expanded by 3.3% in 4Q 2009, GREATER THAN THE

2.6 % in 3Q 2009.

NEWS

6.5% GROWTH EXPECTED THIS YEAR

ECONOMISTS HAVE RAISED THEIR FORECASTS FOR SINGAPORE’S ECONOMIC GROWTH THIS YEAR, AND NOW EXPECTS A GREATER INCREASE IN MANUFACTURING AND EXPORTS THAN EARLIER PREDICTED.

A SURVEY OF PRIVATE SECTOR ECONOMISTS RELEASED YESTERDAY SHOWED THAT THEY FORECASTED THE ECONOMY GROWING BY 6.5% THIS YEAR, UP FROM THE 5.5% MEDIAN FORECAST THEY PROVIDED THREE MONTHS AGO.

THEIR LATEST PREDICTION IS AT THE TOP END OF THE GOVERNMENT’S OWN FORECAST RANGE OF 4.5% TO 6.5% GROWTH FOR 2010, WHICH WAS UPGRADED LAST MONTH.

FOR THE FIRST QUARTER OF THIS YEAR, PRIVATE SECTOR ECONOMISTS PREDICTED THE ECONOMY TO GROW BY 9.5%, A SLIGHT DIP FROM THEIR PREVIOUS FORECAST OF 9.6% IN DECEMBER, ACCORDING TO THE MONETARY AUTHORITY OF SINGAPORE’S (MAS) LATEST SURVEY OF PROFESSIONAL FORECASTERS

BUT THE ACTUAL FIGURE COULD BE EVEN HIGHER THAN 10.O%, IF THE MASSIVE RISE IN JANUARY’S MANUFACTURING OUTPUT TRANSLATES INTO A BOOST IN EXPORTS, SAID CITIBANK ECONOMIST KIT WEI ZHENG.

FACTORIES PRODUCED 39.4% MORE IN JANUARY THAN IN JAN 2009, THE BIGGEST JUMP IN OUTPUT IN 26 YEARS.

ON THE OTHER HAND, IF EXPORTS REMAIN WEAK, EXCESSIVE INVENTORIES COULD BUILD UP AND FACTORIES COULD EXPERIENCE A SHARP PULLBACK IN PRODUCTION IN THE SECOND QUARTER.

MR KIT’S GROWTH FORCAST IS IN LINE WITH MAS FORECASTS AT 6.5%.

HOWEVER, SOME ECONOMISTS ARE MORE CAUTIOUS.

DBS BANK’S IRVIN SEAH, IS STICKING TO HIS FORECAST AT 6.0% GROWTH.

“RIGHT NOW, WE HAVE ONLY JANUARY’S NUMBERS AND THEY ARE VERY STRONG. BUT THERE IS ALWAYS A CHINESE NEW YEAR EFFECT IN THE FIRST 3 MONTHS OF THE YEAR. SO IT IS VERY HARD TO JUDGE THE FIGURES FOR THE REST OF THE YEAR.

UNITED OVERSEAS BANK ECONOMIST CHOW PENN NEE FORSEES THE INTEGRATED RESORTS TO BE A BIG GROWTH DRIVER THIS YEAR, BUT ADDED:” WE DON’T KNOW HOW SUCCESSFUL THAT THEY ARE GOING TO BE, SO WE ARE A LITTLE BIT CAUTIOUS ON THAT SIDE.”

MS CHOW WHO HAS A GROWTH TIP OF JUST 5.8% FOR THIS YEAR, SAID THE SHARP RISE IN MANUFACTURING COULD BE DUE TO FIRMS RESTOCKING INVENTORY. WHETHER OUTPUT WILL CONTINUE TO GROW REMAINS TO BE SEEN, SHE SAID.

OUTLOOK

THE COMPOSITE LEADING INDEX (CLI) ROSE BY A MORE MODERATE 4.1% IN 4Q 2009, FOLLOWING A 4.8% GROWTH IN 3Q 2009. OF THE NINE COMPONENTS WITHIN THE INDEX, SEVEN COMPONENTS RECORDED INCREASES, NAMELY STOCK PRICES, MONEY SUPPLY, THE US PURCHASING MANAGER’S INDEX, NON-OIL SEA CARGO HANDLED, WHOLESALE TRADE,

NON-OIL RETAINED IMPORTS AND THE STOCK OF FINISHED GOODS. DOMESTIC LIQUIDITY REMAINED FLAT, AND THE ONLY INDICATOR THAT SHOWN A DECLINE WAS NEW COMPANIES FORMED.

GLOBALLY, ECONOMIC CONDITIONS CONTINUE TO POST IMPROVEMENTS. MAJOR ECONOMIES WORLDWIDE HAVE RECOVERED FROM THE RECESSION, ATTRIBUTED TO THE FISCAL STIMULUS MEASURES AND INVENTORY CYCLE ADJUSTMENTS. FINANCIAL MARKETS WORLDWIDE HAVE STABILISED, AND TRADE AND GLOBAL INDUSTRIAL PRODUCTION FLOWS HAVE RECOVERED STRONGLY. IN JANUARY 2010, THE INTERNATIONAL MONETARY FUND (IMF) REVISED ITS 2010 GROWTH FORECAST FOR THE WORLD ECONOMY TO 3.9% AND ITS WORLD TRADE FORECAST TO 5.8%.

LOOKING FORWARD, THE GLOBAL GROWTH IN THE FIRST SIX MONTHS OF 2010 SEEMS LIKELY TO BE STRONG. LOW INVENTORY LEVELS COMBINED WITH A MODEST RECOVERY IN SALES WILL SUPPORT INVENTORY ACCUMULATION IN THE G3 ECONOMIES. VARIOUS FISCAL STIMULUS PACKAGES, BOTH IN ASIA AND THE G3, WILL CONTINUE TO CONTRIBUTE TO GROWTH WHICH WILL FURTHER ASSIST GLOBAL TRADE ON THE RECOVERY PATH.

IN SECOND HALF OF 2010, THE PICTURE IS LESS CLEAR, AS FISCAL STANCES WILL BECOME CONTRACTIONARY WITHOUT ADDITIONAL MEASURES. THE GROWTH IMPETUS FROM INVENTORY RESTOCKING COULD ALSO SLOW DOWN. THE OUTLOOK FOR PRIVATE FINAL DEMAND REMAINS ON A CAUTIOUS NOTE, AS WEAK LABOUR MARKETS AND HIGH UNUTILISED CAPACITY WILL AFFECT CONSUMER AND FIRM SPENDING IN THE G3 ECONOMIES. IN ADDITION, THERE ARE CONCERNS OF ASSET PRICE INFLATION IN ASIA AND INCREASING FISCAL PRESSURES IN SOME EUROPEAN ECONOMIES.

TAKING INTO CONSIDERATION THESE FACTORS, THE MINISTRY OF TRADE AND INDUSTRY FORECASTED THAT THE SINGAPORE ECONOMY WILL GROW BY 4.5%-6.5% IN 2010. THE ECONOMY IS LIKELY TO CONTINUE TO RECORD HEALTHY GROWTH RATES IN THE FIRST HALF OF 2010, IN ACCORDANCE WITH THE IMPROVEMENT IN BUSINESS EXPECTATIONS AND THE CLI. HOWEVER, UNCERTAINTIES AND RISKS CONTINUE TO AFFECT THE ECONOMIC OUTLOOK IN THE SECOND HALF OF THE YEAR.

IN THE FINANCIAL SERVICES INDUSTRY, A NET WEIGHTED BALANCE OF 53% OF FIRMS

FORECASTS FAVOURABLE BUSINESS CONDITIONS FOR THE MONTHS ENDING JUN 2010. IN PARTICULAR, BANKS AND FINANCE COMPANIES, STOCK, SHARE AND BOND BROKERS, FUND MANAGERS AND INSURANCE COMPANIES FORECAST BRISK BUSINESS IN THE COMING MONTHS.

IN THE REAL ESTATE INDUSTRY, AN OVERALL NET WEIGHTED BALANCE OF 19% OF FIRMS PREDICTS BETTER BUSINESS CONDITIONS AHEAD. IN PARTICULAR, FIRMS ENGAGED IN THE OPERATION OF SERVICE APARTMENTS FORECAST FAVOURABLE BUSINESS CLIMATE FOR THE MONTHS ENDING JUN 2010. ON THE OTHER HAND, REAL ESTATE MANAGEMENT FIRMS

ARE LESS OPTIMISTIC ABOUT FUTURE BUSINESS PROSPECTS.

OVERALL, THE SERVICES INDUSTRY FORECASTS A FAVOURABLE BUSINESS OUTLOOK FOR THE MONTHS ENDING JUN 2010. A WEIGHTED 35% OF FIRM FORECASTS BETTER BUSINESS CONDITIONS, WHILE A WEIGHTED 11% OF FIRMS PREDICTS LESS POSITIVE BUSINESS CLIMATE FOR THE COMING MONTHS. MAJORITY OF THE FIRMS (A WEIGHTED 54%) ANTICIPATE STABLE BUSINESS ACTIVITIES. THIS RESULTS IN A NET WEIGHTED BALANCE OF 24% OF FIRMS HAVING A POSITIVE OUTLOOK. THIS MAGNITUDE IS LARGER THAN THE POSITIVE NET WEIGHTED BALANCE OF 17% RECORDED FOR THE MONTHS ENDING MAR 2010 IN THE PREVIOUS QUARTER’S SURVEY. THE POSITIVE SENTIMENT IS ALSO IN CONTRAST TO THE NEGATIVE NET WEIGHTED BALANCE OF 53% RECORDED FOR THE SAME QUARTER OF THE PREVIOUS YEAR (I.E. ENDING JUN 2009).

A NET WEIGHTED BALANCE OF 33% OF WHOLESALERS EXPECT POSITIVE BUSINESS SENTIMENTS FOR THE PERIOD ENDING JUN 2010. IN PARTICULAR, THOSE DEALING WITH

CHEMICALS AND CHEMICAL PRODUCTS, INDUSTRIAL MACHINERY AND EQUIPMENT, AND COMPUTERS AND ACCESSORIES.

RETAILERS FORECAST LESS UPBEAT BUSINESS CONDITIONS FOR THE COMING MONTHS. A NET WEIGHTED BALANCE OF 8% OF RETAILERS PREDICT SLOWER BUSINESS FOR THE PERIOD ENDING JUN 2010. THIS APPLIES TO RETAILERS OF MOTOR VEHICLES.

IN THE TRANSPORT AND STORAGE INDUSTRY, A NET WEIGHTED BALANCE OF 3% OF FIRMS ARE MORE OPTIMISTIC ABOUT THE BUSINESS CLIMATE FOR THE COMING MONTHS, DUE MAINLY TO MIXED SENTIMENTS OF THE MAJOR SEGMENTS. FIRMS IN AIR TRANSPORT SERVICES ARE OPTIMISTIC WHILE SHIPPING LINES PREDICT LESS BRISK BUSINESS CONDITIONS.

HOTELIERS ANTICIPATE BETTER BUSINESS CONDITIONS FOR THE PERIOD ENDING JUN 2010 ON THE BACK OF HIGHER VISITOR ARRIVALS. SIMILARLY, A NET WEIGHTED BALANCE OF 40% OF FIRMS IN THE CATERING TRADE INDUSTRY FORECASTS POSITIVE OUTLOOK AHEAD. CONVENTIONAL RESTAURANTS AND FOOD CATERERS ARE AMONG THOSE THAT PREDICTS POSITIVE BUSINESS SENTIMENTS.

IN THE INFORMATION AND COMMUNICATIONS INDUSTRY, MAJORITY OF THE FIRMS PREDICTS STABLE BUSINESS IN THE COMING MONTHS.

IN THE BUSINESS SERVICES INDUSTRY, A NET WEIGHTED BALANCE OF 21% OF FIRMS PREDICTS POSITIVE SENTIMENTS. THESE INCLUDE FIRMS ENGAGED IN RENTING OF TRANSPORT EQUIPMENT, ACCOUNTING BOOK-KEEEPING AND AUDITING, RESEARCH AND EXPERIMENTAL DEVELOPMENT, AND LABOUR RECRUITMENT SERVICES ARE AMONG THOSE THAT PREDICT FAVOURABLE BUSINESS CLIMATE.

EXTRACTED FROM: MINISTRY OF TRADE AND INDUSTRY, SINGAPORE

SINGAPORE DEPARTMENT OF STATISTICS

THE STRAITS TIMES

WEBSITE DETAILS:-

FINANCIAL HIGHLIGHTS

(millions of dollars , unless noted )

Particulars	2009	2008	2007	2006	2005
Sales and other operating revenue	301,500	459,579	390,328	365,467	358,955
Net Income attributable to ExxonMobil	19,280	45,220	40,610	39,500	36,130
Cash Flow from operations and assets Sales	29,983	65,710	56,206	52,366	54,174
Capital and exploration expenditures(3)	27,092	26,143	20,853	19,855	17,699
Cash dividends to ExxonMobil shareholders	8,023	8,058	7,621	7,628	7,185
Common stock purchases (gross)	19,703	35,734	31,822	29,558	18,221
Research and development costs	1,050	847	814	733	712
Cash and cash equivalents at year end(4)	10,693	31,437	33,981	28,244	28,671
Total assets at year end	233,323	228,052	242,082	219,015	208,335
Total debt at year end	9,605	9,425	9,566	8,347	7,991
ExxonMobil share of equity at year end	110,569	112,965	121,762	113,844	111,186
Average capital employed(3)	125,050	129,683	128,760	122,573	116,961
Share price at year end (dollars)	68.19	79.83	93.69	76.63	56.17
Market valuation at year end	322,329	397,239	504,220	438,990	344,491
Regular employees at year end (thousands)	80.7	79.9	80.08	82.1	83.7

KEY FINANCIAL RATIOS

Particulars	2009	2008	2007	2006	2005
Earnings per common share(5) (dollars)	3.99	8.70	7.31	6.64	5.74
Earnings per common share – assuming dilution(5) (dollars)	3.98	8.66	7.26	6.60	5.70
Return on average capital employed(3) (percent)	16.3	34.2	31.8	32.2	31.3
Earnings to average ExxonMobil share of equity (percent)	17.3	38.5	34.5	35.1	33.9
Debt to capital(6) (percent)	7.7	7.4	7.1	6.6	6.5
Net debt to capital(7) (percent)	(1.0)	(23.0)	(24.0)	(20.4)	(22.0)
Ratio of current assets to current liabilities (times)	1.06	1.47	1.47	1.55	1.58
Fixed charge coverage (times)	26.1	52.2	49.9	46.3	50.2

(1) Sales and other operating revenue includes sales-based taxes of $25,936 million for 2009, $34,508 million for 2008, $31,728 million for 2007, $30,381 million for 2006, and $30,742 million for 2005.

(2) Sales and other operating revenue includes $30,810 million for 2005 for purchases/sales contracts with the same counterparty. Associated costs were included in crude oil and product purchases. Effective January 1, 2006, these purchases/sales were recorded on a net basis with no resulting impact on net income.

(3) See Frequently Used Terms on pages 100 through 103.

(4) Excluding restricted cash of $4,604 million in 2006 and 2005.

(5) Consistent with 2009 reporting, the calculation of prior period earnings per share has been updated to include unvested share-based payment awards that contain nonforfeitable dividend rights.

(6) Debt includes short- and long-term debt. Capital includes short- and long-term debt and total equity.

(7) Debt net of cash and cash equivalents, excluding restricted cash

ExxonMobil’s fundamental strategies are key to achieving sustained, outstanding performance in all aspects of their business. These strategies are not new. They have been tested and proven over decades, spanning the highs and lows of prior business cycles. Through the superior execution of these strategies, ExxonMobil is able to meet the challenge of providing reliable, affordable energy in a responsible manner while delivering superior returns for their shareholders.

2009 Results and Highlights

o Record performance in workforce safety that continues to lead industry.

o Strong earnings of $19.3 billion in a challenging business environment.

o Annual dividend per share growth of 7 percent versus 2008, the 27th consecutive year of dividend per share increases.

o Total shareholder distributions of $26 billion.

o Industry-leading return on average capital employed of 16 percent.

o Start-up of eight major Upstream projects.

o Total net production of liquids and natural gas available for sale of 3.9 million oil-equivalent barrels per day.

o Proved oil and gas reserve additions of 2.0 billion oil-equivalent barrels, replacing 134 percent of production excluding asset sales and determined on ExxonMobil’s basis.

o Start-up of a world-scale, fully integrated refining and petrochemical complex in Fujian Province, China.

ExxonMobil’s superior performance demonstrates the strength of their long-term business model.

Business Model

Subject has a consistent and straightforward business model that combines their long-term perspective, disciplined approach to capital investment, and focus on operational excellence to grow shareholder value. They identify, develop, and execute projects using global best practices that ensure project returns will be resilient across a range of economic scenarios. They operate their facilities using proven management systems to achieve operational excellence. As a result, they consistently generate more income from a highly efficient capital base, as demonstrated by their superior return on average capital employed. They deliver industry-leading financial and operating results that grow long-term shareholder value

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%

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