MIRA INFORM REPORT

Report Date :

06.04.2011

IDENTIFICATION DETAILS

Name :	GLOBELINK WEST STAR SHIPPING LLC

Registered Office :	Al Mussalla Tower, 11^th Floor, Suite No. 1103, Khalid Bin Waleed Street, Bur Dubai, P O Box 6027, Dubai

Country :	United Arab Emirates

Date of Incorporation :	05.11.1989

Com. Reg. No.:	47045, Dubai

Legal Form :	Limited Liability Company

Line of Business :	Providers of air and sea cargo, cargo packaging, freight forwarding, distribution and warehousing, land transportation and customs broker services

RATING & COMMENTS

MIRA’s Rating :

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 :	No Complaints
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 – December 31, 2010

Country Name

Previous Rating

(30.09.2010)

Current Rating

(31.12.2010)

United Arab Emirates

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

SUMMARY

Company Name : GLOBELINK WEST STAR SHIPPING LLC

Country of Origin : Dubai, United Arab Emirates

Legal Form : Limited Liability Company - LLC

Registration Date : 5^thNovember 1989

Commercial Registration Number : 47045, Dubai

Trade Licence Number : 221163

Chamber Membership Number : 17464

Issued Capital : UAE Dh 300,000

Paid up Capital : UAE Dh 300,000

Total Workforce : 60

Activities : Providers of air and sea cargo, cargo packaging, freight forwarding,

distribution and warehousing, land transportation and customs broker

services.

Financial Condition : Undetermined

Payments : Nothing detrimental uncovered

Recommended Credit Limit : US$ 150,000

COMPANY NAME

GLOBELINK WEST STAR SHIPPING LLC

company ADDRESS

Registered & Physical Address

Building : Al Mussalla Tower, 11^th Floor, Suite No. 1103

Street : Khalid Bin Waleed Street

Area : Bur Dubai

PO Box : 6027

Town : Dubai

Country : United Arab Emirates

Telephone : (971-4) 3974400

Facsimile : (971-4) 3974666

Email : martin.aranha@glweststardubai.com / glwss@weststardubai.com

Premises

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

Branch Offices

Location Description

· PO Box: 32167 Office premises

Abu Dhabi

Tel: (971-2) 6721116

Fax: (971-2) 6726001

· Bel Rasheed Tower, Suite No. 1105 Office premises

Buheira Corniche

Sharjah

Tel: (971-6) 5759998

Fax: (971-6) 5759939

KEY PRINCIPALS

Name Nationality Position

· Martin Joakim Aranha Indian Managing Director

· Bader Mir Ahmed Al Amiri Emirati Director

· Kovilakath Prabhakaran - Operations Manager

· P V Srinivasan - Finance Manager

· Sreekumar Sivasankaran - Commercial Manager

LEGAL FORM & OWNERS

Date of Establishment : 5^th November 1989

Legal Form : Limited Liability Company - LLC

Commercial Reg. No. : 47045, Dubai

Trade Licence No. : 221163 (Expires 30/10/2011)

Chamber Member No. : 17464

Issued Capital : UAE Dh 300,000

Paid up Capital : UAE Dh 300,000

Name of Shareholder (s) Percentage

· Bader Mir Ahmed Al Amiri 51%

· Martin Joakim Aranha 25%

· C W Globelink Pte Ltd 24%

Singapore

OPERATIONS

Activities: Engaged in the provision of air and sea cargo, cargo packaging, freight forwarding, distribution and

warehousing, land transportation and customs broker services.

Subject has a workforce of 60 employees.

FINANCIAL DATA

Companies registered in Dubai, United Arab Emirates are not legally required to make their accounts public and no financial information was released by the company or submitted by outside sources.

BANKERS

· National Bank of Dubai

Baniyas Street

PO Box: 777

Dubai

Tel: (971-4) 2222241

PAYMENT HISTORY

No complaints regarding subject’s payments have been reported.

GENERAL COMMENTS

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 company is considered to be a fair trade risk.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.45
UK Pound	1	Rs.71.59
Euro	1	Rs.63.01

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.