MIRA INFORM REPORT

Report Date :

07.04.2011

IDENTIFICATION DETAILS

Correct Name :	EMILE STORES CO

Registered Office :	Building No. 78, Aisha Al Taymouriya Street, Al Muqablain Area, P.O.Box No.718, Amman 11623

Country :	Jordan

Date of Incorporation :	29.05.1963

Com. Reg. No.:	214

Legal Form :	General Partnership

Line of Business :	importers and wholesalers of general merchandise

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 :	JD 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)

Jordan

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

Company NAME

Emile Stores Co (Correct)

EMILE STORES / ALMUQABLAIN AISH (Requested)

company ADDRESS

Building : Building No. 78

Street : Aisha Al Taymouriya Street

Area : Al Muqablain Area

P.O.Box No. : 718

Town : Amman 11623

Country : Jordan

Telephone : (962 6) 420 3454

Fax : (962 6) 420 4263

E-Mail : mail@emilestores.com.jo

Trading Style : Emile Stores

SENIOR COMPANY PERSONNEL

Name Position

1. Samir Emile Elias Zananiri Managing Partner

2. Emile Samir Zananiri Partner

3. Widad Addalou (Mrs) Financial Manager

Total Employees : 55

PAYMENTS

No complaints have been heard regarding payments from local suppliers

or banks.

Subject is well-established family business operating in Jordan since 1963.

We consider it is acceptable to deal with subject for MEDIUM amounts.

Opinion on maximum credit : JD 150,000

Trade risk assessment : Normal

Opinion on the credit figure of US DLRS 150,000 :

We consider the above figure to be within the company's financial

capabilities.

PRINCIPAL BANKERS

NAME : ARAB BANK PLC

Branch : Main branch

PO Box : 950544-950545

Town : Amman 11195

Telephone: (962 6) 560 7231

Fax : (962 6) 560 6793

The Company also has an account with the following banks :

1. HSBC Bank of the Middle East

Khalid Bin Walid Street, Jabal Hussein

PO Box 925286

Amman

Telephone: (962 6) 560 7471

Fax : (962 6) 568 2047

2. Jordan Gulf Bank

Al Burj, Shmeisani

PO Box 9989

Amman 11191

Telephone: (962 6) 560 3931

Fax : (962 6) 566 4119

FINANCIAL INFORMATION

Private companies in Jordan are not required to publish or disclose balance sheets. However, the subject interviewed offered

the following information :

Sales Turnover : JD 3,200,000 - 1996 - exact

: JD 3,900,000 - 1997 - exact

: JD 3,500,000 - 1998 - exact

: JD 3,600,000 - 1999 - exact

: JD 3,700,000 - 2000 - approx

: JD 3,000,000 - 2001 - exact

: JD 2,900,000 - 2002 - exact

: JD 3,000,000 - 2003 - approx

: JD 4,500,000 - 2004 - exact

: not given - 2005 – 2008

: JD 6,000,000 – 2009 – exact

: JD 6,000,000 – 2010 – exact

: JD 6,500,000 – 2011 – projected

Net Profit : JD 700,000 – 2009 – exact

: JD 700,000 – 2010 – exact

: JD 750,000 – 2011 - projected

Total Capital Investment : JD 250,000 (as of April 2011)

Financial year ends 31 December.

LEGAL STATUS AND HISTORY

Date Started : 29 May 1963

History : The subject company was established in Jordan on 29 May 1963 as a General Partnership Company owned by Samir Emile Elias Zananiri and his brother Raouf Emile Elias Zananiri. In 2009, Raouf Emile Elias Zananiri sold his shares to Emile Samir Zananiri and Mrs Mary Tawfik Saad Khasho.

C.R. No. : 214

National ID No.: 200003363

Capital : JD 500,000

General Partnership with the following partners :

Share Value

1. Samir Emile Elias Zananiri JD 325,000

(Jordanian national)

2. Mary Tawfik Saad Khasho JD 100,000

(Jordanian national / National ID No.: 9542011481

/ wife of the above)

3. Emile Samir Emile Zananiri JD 75,000

(Jordanian national / National ID No.: 9791037214 /

Son of the above)

Personal Profile on Samir Emile Elias Zananiri

Jordanian national, born in 1943, married with three children

ACTIVITIES

The Company is involved in the following activities :

Trading as importers and wholesalers of general merchandise including household goods such as glasses and cutlery, as well as novelties and souvenirs.

Imports from Europe and Asia, mainly from Spain, France, UK, Italy, India and China.

Subject only sells locally and does not engage in re-export business.

FACILITIES

The Company has the following facilities :

Rented premises comprising administrative offices located at the heading address as well as a wholesale outlet and warehouse located elsewhere in Al Muqablain Area.

Until 2006 subject was located at :

Wahbi Tamari Building

Saqf Al Seil Street

PO Box 6072

Amman 11118

Telephone: (962 6) 463 6837

Fax : (962 6) 462 8126

SPECIAL NOTE

You enquired on: EMILE STORES / ALMUQABLAIN AISH. Please note that the correct name is as per heading.

The street name given by you: teymouria St is misspelt. Please note that the correct spelling is as per heading.

The PO Box number given by you: 6072 applies to subject's former PO Box number. Please note that subject’s correct PO Box number is as per heading.

Interviewed: Widad Addalou (Mrs) (Financial Manager).

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.22
UK Pound	1	Rs.72.25
Euro	1	Rs.63.09

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.