MIRA INFORM REPORT

Report Date :

13.04.2011

IDENTIFICATION DETAILS

Name :	INTERPIPE ME FZE
Registered Office :	Office No. LB 191008, Sheikh Zayed Road, Jebel Ali Free Zone, P O Box 262810, Dubai
Country :	United Arab Emirates
Date of Incorporation :	23.06.2008
Com. Reg. No.:	101283, Dubai
Legal Form :	Free Zone Establishment
Line of Business :	Distributors of basic steel products, pipes and related fittings

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 :	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	a2	a2

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

SUMMARY

Company Name : INTERPIPE ME FZE

Country of Origin : Dubai, United Arab Emirates

Legal Form : Free Zone Establishment - FZE

Registration Date : 23^rd June 2008

Commercial Registration Number : 101283, Dubai

Trade Licence Number : 101082

Chamber Membership Number : 142220

Issued Capital : UAE Dh 1,000,000

Paid up Capital : UAE Dh 1,000,000

Total Workforce : 15

Activities : Distributors of basic steel products, pipes and related fittings.

Financial Condition : Undetermined

Payments : Nothing detrimental uncovered

Recommended Credit Limit : US$ 150,000

COMPANY NAME

INTERPIPE ME FZE

company ADDRESS

Registered & Physical Address

Location : Office No. LB 191008

Street : Sheikh Zayed Road

Area : Jebel Ali Free Zone

PO Box : 262810

Town : Dubai

Country : United Arab Emirates

Telephone : (971-4) 8857411

Facsimile : (971-4) 8857412

Email : officeme@ae.interpipe.biz / info@ae.interpipe.biz

Premises

Subject operates from a small suite of offices that are rented and located in the Jebel Ali Free Zone Area of Dubai.

KEY PRINCIPALS

Name Position

· Vera Smal Sales Manager

· Ajit Koshy Commercial Manager

LEGAL FORM & OWNERS

Date of Establishment : 23^rd June 2008

Legal Form : Free Zone Establishment - FZE

Commercial Reg. No. : 101283, Dubai

Trade Licence No. : 101082 (Expires 23/06/2011)

Chamber Member No. : 142220

Issued Capital : UAE Dh 1,000,000

Paid up Capital : UAE Dh 1,000,000

Name of Shareholder (s) Percentage

· Interpipe Ltd 100%

Pisarzhevskogo 1A

49005 Dnepropetrovsk

Ukraine

Tel : (380-56) 7366006

OPERATIONS

Activities: Engaged in the import and distribution of basic steel products, pipes and related fittings.

Import Countries: Ukraine

Subject has a workforce of 15 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

· Commercial Bank of Dubai

Baniyas Street

Deira

PO Box: 1709

Dubai

Tel: (971-4) 2227121 / 2253222

Fax: (971-4) 2220943 / 2254565

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.44.22
UK Pound	1	Rs.72.26
Euro	1	Rs.63.90

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.