MIRA INFORM REPORT

Report Date :

19.04.2011

IDENTIFICATION DETAILS

Name :	CRESCENT COMMERCIAL COMPANY LTD

Registered Office :	Building No. 45, Street No. 85, Shuweikh Area Near to Vegetable Market, Opposite to Al,Hamra Kuwaiti Company, P.O.Box No.1904, Safat 13020

Country :	Kuwait

Date of Incorporation :	29.01.1963

Com. Reg. No.:	7876

Legal Form :	Limited Liability Company

Line of Business :	Importers, Wholesalers and Commission agents of a wide range of foodstuff including tea, coffee, rice, sugar, oil and spices

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 :	KD 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)

Kuwait

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

Company NAME

Crescent Commercial Company Ltd (Correct)

CRESCENT COMMERCIAL COMPANY WLL (Requested)

Company ADDRESS

Building : Building No. 45

Street : Street No. 85

Area : Shuweikh Area Near to Vegetable Market, Opposite to Al

Hamra Kuwaiti Company

P.O.Box No. : 1904

Town : Safat 13020

Country : Kuwait

Telephone : (965) 2481 9422 / 2484 0995 / 2482 0996 / 2484 8611 /

(Mobile) (965) 6686 9645

Fax : (965) 2484 2643

SENIOR COMPANY PERSONNEL

Name Position

1. Al Keesh Badmakant Taker Badmakant Managing Director

2. Amrat Lal Taker Deputy Managing Director

3. T.R Babo Financial Manager

Total Employees : 85

PAYMENTS

No complaints have been heard regarding payments from local suppliers or banks.

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

Opinion on maximum credit : KD 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 : NATIONAL BANK OF KUWAIT SAK

Branch : Manin Branch

PO Box : 95

Town : Safat 13001

Telephone: (965) 2242 2011

Fax : (965) 2246 4156

FINANCIAL INFORMATION

Private companies in Kuwait are not required to publish or disclose balance sheets. However, the subject interviewed offered the following information :

Sales Turnover : KD 7,000,000 - 2006 – approx

: KD 8,000,000 – 2008 – exact

: KD 8,500,000 – 2009 – exact

: KD 9,000,000 – 2010 – exact

: KD 9,500,000 – 2011 – projected

Net Profit : KD 480,000 – 2009 – exact

: KD 500,000 – 2010 – exact

: KD 550,000 – 2011 – projected

Financial year ends 31 December.

LEGAL STATUS AND HISTORY

Date Started : 29 January 1963

C.R. No. : 7876

Trade License No : 686/74

KCCI Membership No.: 332

Authorised Capital : KD 100,000

Paid-Up Capital : KD 100,000

Limited Liability Company with the following shareholders :

Percentage

1. Al Keesh Badmakant Taker Badmakant 32%

(Indian national)

2. Thaker Amrat Lal Babo Lal 17%

(Indian national)

3. Mohammed Youssef Ahmad Al Kandari * 51%

(Kuwaiti national)

* The local sponsor, according to Kuwaiti laws must hold a minimum of

51% of the capital, however, in practice and unofficially the partner

gets a fixed annual percentage of the profit and a sponsorship fee

without any investment in the company.

ACTIVITIES

The Company is involved in the following activities :

Trading as importers, wholesalers and commission agents of a wide range of foodstuff including tea, coffee, rice, sugar, oil and spices.

NACE Code : 4637

Imports worldwide, mainly from Belgium, New Zealand, the Netherlands, UK, Pakistan, Malaysia, Thailand, Singapore, China, Taiwan, India, Guatemala, USA, Australia and Egypt.

Exports occasionally to Iran and Iraq.

FACILITIES

The Company has the following facilities :

Rented administrative offices located at the heading address and storage facilities located elsewhere in Shuwaikh.

SPECIAL NOTE

You enquired on: CRESCENT COMMERCIAL COMPANY WLL. Please note that the correct name is as per heading.

The address given by you: Near Wholesale Mktshuwaikh is incorrect. Please note that subject’s correct administrative office address is as per heading.

Interviewed: T.R Babo (Financial Manager).

Telephone numbers in Kuwait have changed. Please note that the subject's correct telephone numbers are as per heading.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.27
UK Pound	1	Rs.7208
Euro	1	Rs.63.66

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.