MIRA INFORM REPORT

Report Date :

18.04.2011

IDENTIFICATION DETAILS

Name :	AL MUFIED JEWELLERY FZC

Registered Office :	Saif Zone, Suite No. N-Q-1-117 PO Box 121765 Sharjah

Country :	United Arab Emirates

Date of Incorporation :	18.03.2008

Legal Form :	Free Zone Company - FZC

Line of Business :	Traders of jewellery and diamonds.

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate

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)

UAE

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

SUMMARY

Company Name : AL MUFIED JEWELLERY FZC

Country of Origin : Sharjah, United Arab Emirates

Legal Form : Free Zone Company - FZC

Registration Date : 18^th March 2008

Trade Licence Number : 05924

Issued Capital : UAE Dh 100,000

Paid up Capital : UAE Dh 100,000

Total Workforce : 3

Activities : Traders of jewellery and diamonds.

Financial Condition : Undetermined

Payments : Nothing detrimental uncovered

Person Interviewed : Chandra Khan, Commercial Manager

COMPANY NAME

AL MUFIED JEWELLERY FZE

ADDRESS

Registered & Physical Address

Location : Saif Zone, Suite No. N-Q-1-117

PO Box : 121765

Town : Sharjah

Country : United Arab Emirates

Telephone : (971-6) 5578607

Facsimile : (971-6) 5578608

Mobile : (971-50) 5873897

Email : almufiedjew@gmail.com

Premises

Subject operates from a small suite of offices that are rented and located in the Saif Zone Area of Sharjah.

KEY PRINCIPALS

Name Nationality Position

· Haytham Salman Ali Abu Obaida Jordanian Managing Director

· Mohamed Wahid Belal Khamis Belal Emirati Managing Director

· Chandra Khan - Commercial Manager

LEGAL FORM & OWNERS

Date of Establishment : 18^th March 2008

History : In 2010 subject’s previous owner, Mr Rahul Ramesh Chewan sold his share in the company

to the present owners who changed the legal form from a Free Zone Establishment to a

Free Zone Company.

Legal Form : Free Zone Company - FZC

Trade Licence No. : 05924 (Expires 02/09/2011)

Issued Capital : UAE Dh 100,000

Paid up Capital : UAE Dh 100,000

Name of Shareholder (s)

· Haytham Salman Ali Abu Obaida

· Mohamed Wahid Belal Khamis Belal

OPERATIONS

Activities: Engaged as traders of jewellery and diamonds.

Import Countries: India

Subject has a workforce of 3 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

· Habib Bank Ltd

PO Box: 300

Sharjah

Tel: (971-6) 5356116

Fax: (971-6) 5526473

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.44.52
UK Pound	1	Rs.72.72
Euro	1	Rs.64.41

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
--	NB	New Business	--

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