MIRA INFORM REPORT

Report Date :

29.04.2011

IDENTIFICATION DETAILS

Name :	ASIABEL SPRL
Registered Office :	5, Avenue Du Lycee Francais, Uccle
Country :	Belgium
Financials (as on) :	30.06.2010
Date of Incorporation :	09.09.2002
Com. Reg. No.:	478312344
Legal Form :	Private Limited Liability Company
Line of Business :	Business and other management consultancy activities

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 :	(€) 2,000
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)
Belgium	a1	a1

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

Company Summary

company details
Company Number	478312344
Name	ASIABEL SPRL
Address	5, AVENUE DU LYCEE FRANCAIS, UCCLE
Post Code
Telephone Number	023756610
Fax Number	--
Establishment Date	09-09-2002
Company Status	ACTIVE
Company Type	Private limited liability company
Number of Employees	0
Activity Description	Business and other management consultancy activities
Activity Code	70220
Liable For Vat	yes
Currency	Euro (€)
Latest Branch Details
Street	--
House Number
City	--
Postal Code
Trade Registered Number
Trade Registered Entry Date	--
Contractor Details
Registration Number	--
Contractor Description	--
Striking Off Date	--
Latest Event
Serial Number	117324
Event Description	Establishment
Limit
Credit Information
Credit Limit (€)	2,000
Purchase Limit (€)
Industry Comparison
Industry Average Credit Limit (€)	27,163
Payment Expectations
Payment Expectations
Payment Expectation Days
Day Sales Outstanding
Industry Comparison
Activity Code	7022
Activity Description	Business and other management consultancy activities
Industry Average Day Sales Outstanding	103.01
Industry Average Payment Expectation Days	58.36
Industry Quartile Analysis
Payment Expectations - Lower	29.13
Payment Expectations - Median	60.04
Payment Expectations - Upper	121.70
Day Sales Outstanding - Lower	8.33
Day Sales Outstanding - Median	24.62
Day Sales Outstanding - Upper	65.06
Company Shareholder Holding

Company Accounts

Period
Accounts End Date	30-06-2010	30-06-2009	30-06-2008
Currency	EUR	EUR	EUR
Weeks	52	52	52
Profit & Loss
Turnover	-	-	-
Total Operating Expenses	-	-	-
Operating Result	-37,087	69,948	80,256
Total Financial Income	767	2,772	3,106
Total Financial Expenses	57	88	96
Results on Ordinary Operations Before Tax	-36,377	72,632	83,266
Taxation	-1,531	26,197	26,923
Results on Ordinary Operations After Tax	-34,846	46,435	56,343
Extraordinary Items	0	0	0
Net Result	-34,846	46,435	56,343
Other Information
Dividends	-	46,000	56,000
Director Remuneration	-	-	-
Employee Costs	0	0	0
- Wages & Salaries	-	-	-
- Employee Pension Costs	-	-	-
- Social Security Contributions	-	-	-
- Other Employee Costs	-	-	-
Amortization & Depreciation	-	-	-
Balance Sheet
Intangible Fixed Assets	290	290	290
Tangible Fixed Assets	0	0	0
- Land And Buildings	0	0	0
- Plant And Machinery	0	0	0
- Other Tangible Assets	0	0	0
Financial Fixed Assets	0	0	0
Total Fixed Assets	290	290	290
Inventories	0	0	0
- Raw Materials & Consumables	0	0	0
- Work in Progress	0	0	0
- Finished Goods	0	0	0
- Other Stocks	0	0	0
Trade Debtors	3,872	0	17,010
Cash	1,817	447	4,424
- Miscellaneous Current Assets	17,150	59,500	15,000
Total Current Assets	36,072	105,873	121,840
Current Liabilities
- Trade Creditors	2,291	1,492	8,788
- Short Term Group Loans	0	0	0
- Other Short Term Loans	0	0	0
- Miscellaneous Current Liabilities	17,048	63,254	72,360
Total Current Liabilities	19,339	64,746	81,148
Long Term Debts
- Long Term Group Loans	0	0	0
- Other Long Term Loans	0	0	0
- Other Long Term Liabilities	0	0	0
Total Long Term Debts	0	0	0
Shareholders Equity
- Issued Share Capital	6,200	6,200	6,200
- Share Premium Account	0	0	0
- Reserves	10,823	35,217	34,782
- Revaluation Reserve	0	0	0
Total Shareholders Equity	17,023	41,417	40,982
Working Capital	16,733	41,127	40,692
Net Worth	16,733	41,127	40,692
Ratio Analysis
Trading Performance
Results on Ordinary Operations Before Taxation Margin	-	-	-
Return On Capital Employed	-213.69	175.37	203.18
Return On Total Assets Employed	-100.04	68.42	68.18
Return On Net Assets Employed	-217.40	176.60	204.62
Sales / Net Working Capital	-	-	-
Operating Efficiency
Stock Turnover Ratio	-	-	-
Debtor Days	-	-	-
Creditor Days	-	-	-
Short Term Stability
Current Ratio	1.87	1.64	1.50
Liquidity Ratio / Acid Ratio	1.87	1.64	1.50
Current Debt Ratio	1.14	1.56	1.98
Long Term Stability
Gearing	0	0	0
Equity In Percentage	0.47	0.39	0.34
Total Debt Ratio	0	0	0

Company Court Data

Protested Bills
Drawee Name	--
Drawee Address	--
Bill Amount
Bill Currency	--
Maturity of Bill (month)
Name of Drawer	--
City of Drawer	--
NSSO Details
Name of Defendant	--
Legal Form of Defendant	--
Date of Summons
Labour Court	--
Directors
Company Director
Full Name	ALBERT MARCHAL
Birth Date
Position Description	Manager
Address	50490 LORONG LEMBAH JELUTONG KUALA LUMPUR
Country	Malaysia
Postal Code	0
Birth Date
Company Director
Full Name	ANNE WAUTERS
Birth Date	1953-10-24
Position Description	Manager
Address	5 FRANS LYCEUMLAAN UCCLE
Country	--
Postal Code	1180
Birth Date

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.33
UK Pound	1	Rs.74.14
Euro	1	Rs.65.78

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.