MIRA INFORM REPORT

Report Date :

24.08.2011

IDENTIFICATION DETAILS

Name :	UNIVERSAL NAVIGATION PTE LTD

Registered Office :	8 Eu Tong Sen Street #19-99 Central, The Singapore 059818

Country :	Singapore

Date of Incorporation :	29.08.1995

Com. Reg. No.:	199506159R

Legal Form :	Private Limited Liability Company

Line of Business :	Trading of Marine Equipment

RATING & COMMENTS

MIRA’s Rating :

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

Maximum Credit Limit :	USD 100,000

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 – March 31^st, 2011

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

Singapore

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

Contact Points

Company Name:	Universal Navigation Pte Ltd
Supplied Name:	Universal Navigation Pte Ltd.
Trading Address:	The Central, 8 Eu Tong Sen Street, #19-99, Singapore 059818
Supplied Address:	8 EU Tong Street No. 19-99 The Central 059818 , SG
Telephone Number:	+65-6324-1466
Fax Number:	+65-6323-6062

Credit Summary

Credit Rating:	Maximum credit USD 100,000
Credit Opinion:	Business connections are permissible.
Risk Score:	270 Points
Risk Analysis:	Average creditworthiness

Company Identification Details

Registered Name:	Universal Navigation Pte Ltd
Registered Address:	8 Eu Tong Sen Street #19-99 Central, The Singapore 059818
Date of Registration::	1995-8-29
Registered Number:	199506159R
Country of Incorporation:	Singapore
Registered Capital:	SGD 1,000,000 (USD 828,700) (As of 2011.08, 1 SGD = 0.8287 USD)
Paid-up Capital:	SGD 1,000,000 (USD 828,700) = 1,000,000 Shares@1 SGD
Legal Form:	Private Limited Liability Company
Principal Activities:	Trading Of Marine Equipment
Staff:	About 60 Employees
Status:	Live Company
Listed at Stock Exchange:	No
Date of Last Annual Return:	2011-1-24

History

Subject was incorporated on 1995-8-29 with registered number 199506159R as Private Limited Liability Company in Singapore.

Shareholders

Unit: SGD

Name	Subscription Amount	Proportion of Investment (%)
Reza Husein Sharif	500,000	50%
	500,000	50%
Total	1,000,000	100%

Major Shareholder Information:

1
Name:	Reza Husein Sharif
Value:	SGD 500,000
ID Number:	RCB0090940
Address:	16 Western Avenue London Nw 11 United Kingdom
Nationality:	British
2
Name:	Raza Taqi
Value:	SGD 500,000
ID Number:	S2617337Z
Address:	61 Grange Road #04-03 Beverly Hill Apartments Singapore 249570
Nationality:	Singapore Citizen

Subsidiaries & Branches

Subject did not register any subsidiaries or branches, from other source we can not obtain the relevant information, either.

Management Information

Core Management

Detailed Information of Management:

1
Name:	Khaw Yio Lok
Position:	Secretary
ID Number:	S1311899Z
Address:	1E Cantonment Road #39-57 Pinnacle@Duxton, The Singapore 085501
Nationality:	Singapore Citizen
Date of Appointment:	2011-1-24
2
Name:	Raza Taqi
Position:	Director
ID Number:	S2617337Z
Address:	61 Grange Road #04-03 Beverly Hill Apartments Singapore 249570
Nationality:	Singapore Citizen
Date of Appointment:	1995-8-29
3
Name:	Lau Siek Ling
Position:	Secretary
ID Number:	S7578028A
Address:	35 Telok Blangah Rise #04-285 Singapore 090035
Nationality:	Singapore P.R.
Date of Appointment:	2006-12-1
4
Name:	Mohamed Asad Taqi
Position:	Director
ID Number:	S8871006A
Address:	61 Grange Road #04-03 Beverly Hill Apartments Singapore 249570
Nationality:	Singapore P.R.
Date of Appointment:	2010-1-31

Personnel Structure

Total Employees

About 60 Employees

Operation Information

Offices & Factories

	Office
Address:	The Central, 8 Eu Tong Sen Street, #19-99, Singapore 059818

Purchase

l The subject importers of marine equipment engines machinery and iron and steel materials.

l The subject purchases from foreign countries.

Sales Information

l The subject is engaged in sales of marine equipment engines machinery and iron and steel materials.

l The subject sells products in the Asian countries.

Settlements

Purchase

Domestic Markets

The subject seldom purchases from domestic markets.

Overseas Markets

Products	Payment Terms	Proportion
Marine equipment engines machinery and iron and steel materials		100%

Sales

Domestic Markets

Product	Sales Terms	Proportion
Marine equipment engines machinery and iron and steel materials	CBD, etc	100%

Overseas Markets

Product	Sales Terms	Proportion
Marine equipment engines machinery and iron and steel materials	CBD, etc	100%

Financial Figures

Year	Sales
2010	About USD 100,000,000

Bankers

Open Account Bank

Name:

DBS Bank

Auditors

Name:

Kpmg Llp

Public

Charges

Charge 1
Charge Number:	C200800301
Date of Registration:	2008-1-9
Name:	Habib Bank Limited
Amount Secured:	All Monies
Charge 2
Charge Number:	C201101002
Date of Registration:	2011-1-21
Name:	Malayan Banking Berhad
Amount Secured:	All Monies
Charge 3
Charge Number:	C201101008
Date of Registration:	2011-1-21
Name:	Malayan Banking Berhad
Amount Secured:	All Monies

Interview Details

Name:	Jawad Shariff
E-mail:	chartering@uninavigation.com

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.45.68
UK Pound	1	Rs.75.29
Euro	1	Rs.65.77

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.