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MIRA INFORM REPORT

Report Date :

20.04.2011

IDENTIFICATION DETAILS

Name :	TEX LINE ASSOCIATES PTE LTD

Registered Office :	73 Bukit Timah Road #02-01 Rex House Singapore 229832

Country :	Singapore

Financials (as on) :	31.03.2010

Date of Incorporation :	12.12.1989

Com. Reg. No.:	198905457K

Legal Form :	Limited Private Company

Line of Business :	Wholesale on a fee or contract basis (eg commission agents)

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
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

Maximum Credit Limit :	S$1,000,000
Status :	Good
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)

Singapore

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

Executive Summary

Company Name	:	TEX LINE ASSOCIATES PTE LTD
Registration No	:	198905457K
Date of Registration	:	12/12/1989
Former Name	:	NA
Date of Change of Name	:	NA
Type of Company	:	LIMITED PRIVATE COMPANY
Registered Address	:	73 BUKIT TIMAH ROAD #02-01 REX HOUSE SINGAPORE 229832
Date of Change of Address	:	15/04/2002
Contact No.	:	6882 0988
Fax No.	:	6882 0991
Website	:	NA
Registered Activities	:	1. GENERAL WHOLESALE TRADE (INCLUDING GENERAL IMPORTERS AND EXPORTERS) PROVISION OF SOURCING & BUYING SERVICES FOR GARMENTS & ARTICLES OF ALL KINDS 2. WHOLESALE ON A FEE OR CONTRACT BASIS (EG COMMISSION AGENTS)
Issued Ordinary Capital*	:	$1,400,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 1,400,000
Issued Preference Capital	:	NA
Paid-Up Ordinary Capital	:	$1,400,000.00 SINGAPORE, DOLLARS
Paid-Up Preference Capital	:	NA
* Number of Shares includes number of Issued Treasury Shares
Issued Treasury Capital	:	NA
Paid-Up Treasury Capital	:	NA
No. of Local Subsidiaries	:	4
No. of Local Associates	:	NA
Auditor	:	ERNST & YOUNG LLP
Bankers / Financiers	:	NA
Turnover	:	SGD - SIN 517,974,986.00 (FY2010)
Net Worth	:	SGD - SIN 56,780,508.00 (FY2010)
No. of Bank Charges	:	NA
No. of Litigation Suits	:	NA
S1000 / SME 500 / FG50 Ranking	:	363 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2007/2008) 698 POSITION IN Singapore 1000 Companies Ranked by Net Profit (2007/2008) 572 POSITION IN Singapore 1000 Companies Ranked by Return on Equities (2007/2008) 386 POSITION IN Singapore 1000 Companies Ranked by Return on Equities (2006/2007) 554 POSITION IN Singapore 1000 Companies Ranked by Net Profit (2006/2007)
Compounded Annual Growth Rate (CAGR)	:	NA

Credit Rating & Recommendation

Recommended Credit Line

S$1,000,000

SHAREHOLDER DETAILS

NAME	:	TEX LINE PTE. LIMITED
SHAREHOLDER ID	:	198201185M
NATIONALITY	:	SINGAPORE
ADDRESS	:	73 BUKIT TIMAH ROAD #01-01 TONG NAM BUILDING SINGAPORE 229832
NO. OF ORD SHARES	:	1,400,000
% OF SHAREHOLDING	:	100%
CURRENCY	:	SINGAPORE, DOLLARS

OFFICER DETAILS

NAME	:	SIM KIM CHOON
ADDRESS	:	1D LYNWOOD GROVE ONE LYNWOOD SINGAPORE 358679
POSITION	:	DIRECTOR
DATE OF APPT	:	22/12/1990
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S0018165Z

NAME	:	MICHAEL KOH KOW TEE
ADDRESS	:	201 OCEAN DRIVE #06-05 AZURE, THE SINGAPORE 098584
POSITION	:	DIRECTOR MANAGING DIRECTOR
DATE OF APPT	:	12/12/1989 22/12/1990
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S0018917J

NAME	:	ER CHOON HUAT
ADDRESS	:	12 HILLVIEW DRIVE SINGAPORE 669374
POSITION	:	DIRECTOR
DATE OF APPT	:	22/12/1990
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S0020062Z

NAME	:	JOHAR YEO
ADDRESS	:	50 LORONG MELAYU SINGAPORE 416930
POSITION	:	DIRECTOR
DATE OF APPT	:	16/04/2001
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S0212675C

NAME	:	KOH PUAY TEE
ADDRESS	:	2 BAYSHORE ROAD BAYSHORE TERRACE SINGAPORE 469960
POSITION	:	DIRECTOR
DATE OF APPT	:	16/04/2001
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S0475334H

NAME	:	PHUA KOK OH @ RICHARD PHUA
ADDRESS	:	7 YIO CHU KANG DRIVE SINGAPORE 786317
POSITION	:	DIRECTOR
DATE OF APPT	:	22/12/1990
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S1028357D

NAME	:	EILEEN LIM SEO MENG
ADDRESS	:	38 SIRAT PLACE SANFORD PARK SINGAPORE 545840
POSITION	:	DIRECTOR
DATE OF APPT	:	16/04/2001
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S1217351B

NAME	:	CHAN FANNY
ADDRESS	:	866 TAMPINES STREET 83 #02-225 SINGAPORE 520866
POSITION	:	SECRETARY
DATE OF APPT	:	31/12/2002
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S1581535C

KEY PERSONNEL PROFILE

Name:	MICHAEL KOH KOW TEE
NRIC Number:	S0018917J
Available Address:	201 OCEAN DRIVE #06-05 AZURE, THE SINGAPORE 98584

Current Business Interest

No.	Name	Position	Appt Date	#of Share	%
1	2BESOURCE.COM PTE LTD	DIRECTOR	18/07/2000	-	-
2	ASIA BRANDING LICENSING PTE. LTD.	DIRECTOR	25/11/2009	-	-
3	FRESH APPROACH PTE. LTD.	SHAREHOLDER	-	600000	40.00
4	KEEP TOP GROUP PTE. LTD.	DIRECTOR	23/01/2006	225000	75.00
5	MJ CAPITAL PTE LTD	DIRECTOR	11/11/2003	4758726	100.00
6	ODYSSEY CONCEPTS PTE. LTD.	DIRECTOR	18/03/2010	380000	38.00
7	PRIMERO INDUSTRIES PTE. LTD.	DIRECTOR	15/03/2011	85	85.00
8	S.T. ALLIANCE PTE LTD	DIRECTOR	05/04/1993	-	-
9	STRAITS GALLERY (S.E.A.) PTE. LTD.	DIRECTOR	09/10/2010	1000000	100.00
10	TAMA LABELLING & ACCESSORIES PTE LTD	DIRECTOR	10/12/1991	209235	34.42
11	TEX LINE ASSOCIATES PAKISTAN (S) PTE LTD	DIRECTOR	18/07/2000	-	-
12	TEX LINE ASSOCIATES PTE LTD	DIRECTOR	12/12/1989	-	-
13	TEX LINE ASSOCIATES PTE LTD	MANAGING DIRECTOR	22/12/1990	-	-
14	TEX LINE PTE. LIMITED	DIRECTOR	19/04/1982	528360	37.74
15	TEX LINE PTE. LIMITED	MANAGING DIRECTOR	19/04/1982	528360	37.74
16	THE EVENTS CLUB SG PTE. LTD.	DIRECTOR	18/03/2010	38000	38.00
17	THE EVENTS CLUB SG PTE. LTD.	SHAREHOLDER	-	38000	38.00
18	TL CAPITAL PTE LTD	DIRECTOR	20/08/2005	1400000	100.00
19	TLA SPORTS PTE. LTD.	DIRECTOR	08/04/2004	-	-

Previous Business

No.	Name	Status	Position	Appt Date	Last Known Inactive Date
1	ADVANTEX MERCHANDISING PTE LTD	STRUCK OFF	DIRECTOR	04/11/1989	16/10/1992
2	ASTANA BAJONG PTE LTD	STRUCK OFF	DIRECTOR	12/12/1989	-
3	BORNEMANN + BICK LABELLING AND ACCESSORIES PTE LTD	GAZETTED TO BE STRUCK OFF	DIRECTOR	18/01/1985	-
4	CHINO CREATIONS PTE. LTD.	DISSOLVED - MEMBERS' VOLUNTARY WINDING UP	DIRECTOR	26/09/1986	07/05/1992
5	CHINO CREATIONS PTE. LTD.	DISSOLVED - MEMBERS' VOLUNTARY WINDING UP	SHAREHOLDER	-	-
6	COLBY & STATON AGENCIES PTE LTD	DISSOLVED - MEMBERS' VOLUNTARY WINDING UP	MANAGING DIRECTOR	09/06/1984	09/10/1991
7	COLBY & STATON AGENCIES PTE LTD	DISSOLVED - MEMBERS' VOLUNTARY WINDING UP	SHAREHOLDER	-	-
8	COOL ISLAND PTE LTD	STRUCK OFF	SHAREHOLDER	-	18/09/2007
9	CTS INTERNATIONAL PTE LTD	DISSOLVED - MEMBERS' VOLUNTARY WINDING UP	DIRECTOR	09/09/1994	03/03/1998
10	CTS INTERNATIONAL PTE LTD	DISSOLVED - MEMBERS' VOLUNTARY WINDING UP	SHAREHOLDER	-	-
11	E-LINE TECHNOLOGY PTE LTD	STRUCK OFF	DIRECTOR	01/10/2002	22/07/2004
12	E-LINE TECHNOLOGY PTE LTD	STRUCK OFF	MANAGING DIRECTOR	27/03/2000	01/09/2000
13	E.L.C. FASHIONS PTE LTD	DISSOLVED - MEMBERS' VOLUNTARY WINDING UP	DIRECTOR	30/03/1993	03/02/1998

14	E.L.C. FASHIONS PTE LTD	DISSOLVED - MEMBERS' VOLUNTARY WINDING UP	SHAREHOLDER	-	-
15	GEORGIE'S GOURMET POPCORN PRIVATE LIMITED	DISSOLVED - MEMBERS' VOLUNTARY WINDING UP	MANAGING DIRECTOR	09/06/1984	28/04/1992
16	GEORGIE'S GOURMET POPCORN PRIVATE LIMITED	DISSOLVED - MEMBERS' VOLUNTARY WINDING UP	SHAREHOLDER	-	-
17	GOLDEN MERCHANDISING PTE LTD	DISSOLVED - MEMBERS' VOLUNTARY WINDING UP	MANAGING DIRECTOR	14/06/1985	23/03/1988
18	INTERNATIONAL INDUSTRADE PTE. LTD.	DISSOLVED - MEMBERS' VOLUNTARY WINDING UP	DIRECTOR	01/11/1987	22/09/1992
19	INTERNATIONAL INDUSTRADE PTE. LTD.	DISSOLVED - MEMBERS' VOLUNTARY WINDING UP	SHAREHOLDER	-	-
20	INTERNATIONAL PRINTING & STATIONERY PTE LTD	STRUCK OFF	DIRECTOR	28/03/1995	01/09/2001
21	JIT CONCEPT INTERNATIONAL PTE LTD	DISSOLVED - MEMBERS' VOLUNTARY WINDING UP	DIRECTOR	28/05/1998	01/09/2000
22	JK TECH INVESTMENTS LTD.	LIVE COMPANY	SHAREHOLDER	-	01/04/2011
23	K.C. ASIA (OPA) PTE LTD	STRUCK OFF	DIRECTOR	22/03/1997	21/11/2000
24	KJ INDUSTRIES PTE. LTD.	LIVE COMPANY	DIRECTOR/SHR	25/07/2006	15/12/2010
25	LARK APPAREL PTE LTD	DISSOLVED - MEMBERS' VOLUNTARY WINDING UP	MANAGING DIRECTOR	11/01/1984	06/11/1991

26	MAXI DESIGNS PTE. LTD.	DISSOLVED - MEMBERS' VOLUNTARY WINDING UP	DIRECTOR	21/08/1985	31/12/1985
27	PAXAR (SINGAPORE) PTE LTD	LIVE COMPANY	DIRECTOR	12/03/1991	18/02/1992
28	S.T. ALLIANCE PTE LTD	LIVE COMPANY	SHAREHOLDER	-	28/02/2011
29	SENTEX SINGAPORE PTE LTD	DISSOLVED - COMPULSORY WINDING UP (INSOLVENCY)	DIRECTOR	18/08/1981	05/04/1982
30	SOUTH ISLAND ALLIANCE PTE LTD	LIVE COMPANY	DIRECTOR	27/10/1995	13/09/2000
31	SPORTSVISION INTERNATIONAL PTE LTD	LIVE COMPANY	DIRECTOR	08/09/1995	31/12/2008
32	SPORTSVISION INTERNATIONAL PTE LTD	LIVE COMPANY	MANAGING DIRECTOR	29/09/1995	31/07/2006
33	T.M. APPAREL PTE LTD	DISSOLVED - MEMBERS' VOLUNTARY WINDING UP	DIRECTOR	19/02/1986	06/05/1986
34	TAMA TAG PTE LTD	STRUCK OFF	DIRECTOR	01/09/2000	10/05/2010
35	TAMA TAG PTE LTD	STRUCK OFF	SHAREHOLDER	-	-
36	TEX LINE AGENCIES PRIVATE LIMITED	DISSOLVED - MEMBERS' VOLUNTARY WINDING UP	MANAGING DIRECTOR	14/09/1982	06/08/1992
37	TEX LINE ASSOCIATES PTE LTD	LIVE COMPANY	SHAREHOLDER	-	07/04/2011
38	TEX LINE INDUSTRY PTE LTD	STRUCK OFF	DIRECTOR	25/02/1997	01/09/2000
39	TEX LINE MARKETING (SINGAPORE) PTE LTD	DISSOLVED - MEMBERS' VOLUNTARY WINDING UP	DIRECTOR	15/12/1989	29/03/1999
40	TEX LINE MARKETING (SINGAPORE) PTE LTD	DISSOLVED - MEMBERS' VOLUNTARY WINDING UP	SHAREHOLDER	-	-

41	TEX LINE MERCHANDISING PTE LTD	DISSOLVED - MEMBERS' VOLUNTARY WINDING UP	DIRECTOR	16/07/1988	07/03/1994
42	TEX LINE MERCHANDISING PTE LTD	DISSOLVED - MEMBERS' VOLUNTARY WINDING UP	SHAREHOLDER	-	-
43	TEX LINE SERVICES PTE LTD	DISSOLVED - MEMBERS' VOLUNTARY WINDING UP	DIRECTOR	26/09/1986	28/08/1993
44	TEX-EBO INTERNATIONAL (S) PTE. LTD.	DISSOLVED - MEMBERS' VOLUNTARY WINDING UP	DIRECTOR	01/09/2000	22/03/2007
45	TEXWELL-CHINO DESIGNS PTE LTD	DISSOLVED - MEMBERS' VOLUNTARY WINDING UP	MANAGING DIRECTOR	15/08/1985	28/08/1993
46	TEXWELL-CHINO DESIGNS PTE LTD	DISSOLVED - MEMBERS' VOLUNTARY WINDING UP	SHAREHOLDER	-	-
47	TLA SPORTS PTE. LTD.	LIVE COMPANY	SHAREHOLDER	-	04/04/2011
48	USED CLOTHING COMPANY (S) PTE LTD	STRUCK OFF	DIRECTOR	29/09/1990	29/02/1992
49	USED CLOTHING COMPANY (S) PTE LTD	STRUCK OFF	SHAREHOLDER	-	-
50	VIET-SIN INTERNATIONAL PTE LTD	LIVE COMPANY	DIRECTOR	18/06/1992	25/02/1993
51	VIET-SIN INTERNATIONAL PTE LTD	LIVE COMPANY	MANAGING DIRECTOR	30/06/1992	25/02/1993
52	VIET-SIN INVESTMENTS PTE LTD	LIVE COMPANY	DIRECTOR	02/05/1992	25/02/1993
53	VIVOLI ITALIAN ICE-CREAM PTE. LTD.	DISSOLVED - MEMBERS' VOLUNTARY WINDING UP	DIRECTOR	16/04/1984	28/04/1992

54	VIVOLI ITALIAN ICE-CREAM PTE. LTD.	DISSOLVED - MEMBERS' VOLUNTARY WINDING UP	SHAREHOLDER	-	-
55	WJ TEX LABELLING PTE LTD	DISSOLVED - MEMBERS' VOLUNTARY WINDING UP	DIRECTOR	18/04/1983	06/08/1992

Bankruptcy Record

Case No.	Year	Date of Filing	Petitioner Name	Amount
No Trace

Litigation Search – Writ of Summons

Court	Case No.	Year	Date of Filing	Amount	Cause Category
No Trace

SUBSIDIARIES AND ASSOCIATE COMPANIES

Company	Shareholdings (%)

2BESOURCE.COM PTE LTD	100
TLA SPORTS PTE. LTD.	100
TAG INDUSTRIES PTE. LTD.	100
TEX LINE ASSOCIATES PAKISTAN (S) PTE LTD	76

BANKERS/ FINANCIERS

Subject enjoys a normal banking routine with its bankers. To date, there are no bank charges registered against Subject by its bankers.

LITIGATION

Clear

COMPLIANCE

Date of Last AGM	:	16/12/2010
Date of Last AR	:	13/01/2011
Date of A/C Laid At Last AGM	:	31/03/2010

FINANCIAL HIGHLIGHTS

Financial Figures	Group
	MAR 2010	% Change	MAR 2009	MAR 2008	MAR 2007	MAR 2006
Currency	SGD - SIN		SGD - SIN	SGD - SIN	SGD - SIN	SGD - SIN
Profit and Loss Key Figures
Turnover	517,974,986	-22.18	665,625,774	560,273,032	520,194,076	634,769,682
Profit/(Loss) Before Tax	15,867,531	-10.94	17,817,350	19,882,292	19,694,488	21,588,068
Profit After Tax attributable to Shareholders	13,403,461	-10.77	15,020,633	17,004,573	17,346,563	19,361,757

Balance Sheet Key Figures
Total Assets	159,950,813	13.77	140,590,182	105,925,667	96,785,991	85,663,928
Current Assets	158,834,926	14.51	138,710,800	104,509,600	94,946,653	83,221,470
Non Current Assets	1,115,887	-40.62	1,879,382	1,416,067	1,839,338	2,442,458

Total Liabilities	103,170,304	29.49	79,676,857	47,438,994	45,532,586	40,366,228
Current Liabilities	103,158,903	29.50	79,658,106	47,418,407	45,465,502	40,326,324
Non Current Liabilities	11,401	-39.20	18,751	20,587	67,084	39,904

Shareholders' Funds	56,780,508	-6.78	60,913,326	58,486,673	51,253,406	45,297,700
Share Capital	1,083,108	-1.19	1,096,186	1,117,561	1,185,663	1,263,627
Total Reserves	55,697,400	-6.89	59,817,140	57,369,112	50,067,743	44,034,073

FINANCIAL RATIOS

	Group
	MAR 2010	MAR 2009	MAR 2008	MAR 2007	MAR 2006
Growth %
Year-on-Year Growth	-22.18	18.80	7.70	-18.05	NA

Profitability
Profit Margin (%)	2.59	2.26	3.04	3.33	3.05
Return on Equity (%)	23.61	24.66	29.07	33.84	42.74
Return on Assets (%)	8.38	10.68	16.05	17.92	22.60

Leverage
Total Debt/Equity (Times)	1.82	1.31	0.81	0.89	0.89
Current Debt/Equity (Times)	1.82	1.31	0.81	0.89	0.89
Long Term Debt To Equity (Times)	0.00	0.00	0.00	0.00	0.00
Total Asset To Total Equity (Times)	2.82	2.31	1.81	1.89	1.89

Asset Management
Total Assets Turnover (Times)	3.24	4.73	5.29	5.37	7.41
Fixed Assets Turnover (Times)	464.18	354.17	395.65	282.82	259.89

Liquidity
Current Ratio (Times)	1.54	1.74	2.20	2.09	2.06

FINANCIAL HIGHLIGHTS

Financial Figures	Company
	MAR 2008	% Change	MAR 2007	MAR 2006
Currency	SGD - SIN		SGD - SIN	SGD - SIN
Profit and Loss Key Figures
Turnover	*	NA	0	0
Profit/(Loss) Before Tax	*	NA	0	0
Profit After Tax attributable to Shareholders	*	NA	0	0

Balance Sheet Key Figures
Total Assets	71,267,000	20.47	59,159,000	47,897,000
Current Assets	69,102,000	21.40	56,922,000	45,703,000
Non Current Assets	2,165,000	-3.22	2,237,000	2,194,000

Total Liabilities	38,306,000	17.83	32,510,000	25,703,000
Current Liabilities	38,292,000	17.90	32,478,000	25,679,000
Non Current Liabilities	14,000	-56.25	32,000	24,000

Shareholders' Funds	32,961,000	23.69	26,649,000	22,194,000
Share Capital	760,000	0.00	760,000	760,000
Total Reserves	(32,201,000)	NA	25,889,000	21,434,000

* As per Companies Act, section 201 Accounts, Consolidated accounts and directors report, sub-section 3A.

FINANCIAL RATIOS

	Company
	MAR 2008	MAR 2007	MAR 2006
Growth %
Year-on-Year Growth	NA	NA	NA

Profitability
Profit Margin (%)	0.00	0.00	0.00
Return on Equity (%)	0.00	0.00	0.00
Return on Assets (%)	0.00	0.00	0.00

Leverage
Total Debt/Equity (Times)	1.16	1.22	1.16
Current Debt/Equity (Times)	1.16	1.22	1.16
Long Term Debt To Equity (Times)	0.00	0.00	0.00
Total Asset To Total Equity (Times)	2.16	2.22	2.16

Asset Management
Total Assets Turnover (Times)	0.00	0.00	0.00
Fixed Assets Turnover (Times)	0.00	0.00	0.00

Liquidity
Current Ratio (Times)	1.80	1.75	1.78

FINANCIAL COMMENTARY

Profitability

The group yielded a rate of net profit on sales of 2.59 per cent in FY10 (FY09: 2.26 per cent). The group is now able to book in SGD - SIN 0.03 of profit for every SGD - SIN of sales in FY10, as compared with SGD - SIN 0.02 a year ago.

Liquidity

Current ratio stood at 1.54 times in FY10 (FY09: 1.74 times). This means that the group has SGD - SIN 1.54 of current assets for every SGD - SIN of current liability incurred.

A minimum figure of 1.0 would be considered the lowest limit that this figure should reach. Any business that has a current ratio near 1.0 may be heading for liquidity problems, and would need to be closely monitored. A figure greater than 2.0 would be more desirable, to act as a buffer against any short-term liquidity problems, and give creditors/bank managers a degree of comfort when granting credit/finance.

FINANCIAL COMMENTARY

Leverage

Total debt-to-equity ratio notched 1.82 times in FY10, as compared with 1.31 times in FY09. This means that the group requires additional external financing of SGD - SIN 1.82 for every SGD - SIN injected into its operations.

Generally, a total debt-to-equity ratio of less than 0.5 times is preferred. The ratio measures the proportion of the company's reliance on external debt for financing, relative to the shareholder's fund. A lower ratio would imply a greater financial safety and operating freedom for the company.

Efficiency Ratio

Return on equity was 23.61 per cent for Subject in the current financial period, as compared to 24.66 per cent a year ago. The return on equity measures the return earned on the owner's investment. Generally, the higher this return, the better off the owner.

Return on assets stood at 8.38 per cent (FY09: 10.68 per cent). The return on asset measures the overall effectiveness of management in generating profit with its available assets.

Total assets turnover ratio logged at 3.24 times in FY10 (FY09: 4.73 times). This ratio measures the group's ability to make productive use of its total assets to generate sales which reflects the efficiency of the management in utilising its resources.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.68
UK Pound	1	Rs.72.56
Euro	1	Rs.63.53

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%)

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.

MIRA INFORM REPORT

Executive Summary

Credit Rating & Recommendation

SHAREHOLDER DETAILS

OFFICER DETAILS

KEY PERSONNEL PROFILE

SUBSIDIARIES AND ASSOCIATE COMPANIES

BANKERS/ FINANCIERS

LITIGATION

COMPLIANCE

FINANCIAL HIGHLIGHTS

FINANCIAL RATIOS

FINANCIAL HIGHLIGHTS

FINANCIAL RATIOS

FINANCIAL COMMENTARY

FINANCIAL COMMENTARY

Unit