MIRA INFORM REPORT

Report Date :

20.12.2011

IDENTIFICATION DETAILS

Name :	SHINING GULF STAR GENERAL TRADING

Registered Office :	Al Arabash Building, Al Qassimiya Street, P O Box: 98876 & 98076, Sharjah

Country :	United Arab Emirates

Date of Incorporation :	14.06.2009

Legal Form :	Sole Proprietorship

Line of Business :	Distributors of lubricants, bitumen and oil based products

No. of Employees :	2 persons

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 :	US$ 100,000

Status :	Small Concern

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 – September 30^th, 2011

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

United Arab Emirates

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

SUMMARY

Company Name : SHINING GULF STAR GENERAL TRADING

Country of Origin : Sharjah, United Arab Emirates

Legal Form : Sole Proprietorship

Registration Date : 14^th May 2009

Trade Licence Number : 572778

Chamber Membership Number : 88699

Invested Capital : UAE Dh 1,000,000

Total Workforce : 2

Activities : Distributors of lubricants, bitumen and oil based products

Financial Condition : Undetermined

Payments : Nothing detrimental uncovered

Recommended Credit Limit : US$ 100,000

Person Interviewed : Navid Choudary, Proprietor & General Manager

COMPANY NAME

SHINING GULF STAR GENERAL TRADING

company ADDRESS

Registered & Physical Address

Building : Al Arabash Building

Street : Al Qassimiya Street

PO Box : 98876 & 98076

Town : Sharjah

Country : United Arab Emirates

Telephone : (971-6) 5236573

Facsimile : (971-6) 5236573

Mobile : (971-50) 6266148 / 8702403

Email : sgstarco@gmail.com

Premises

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

KEY PRINCIPALS

Name Nationality Position

· Navid Choudary Iranian Proprietor & General Manager

· Hussain Ahmed Hussain Emirati Local Sponsor

LEGAL FORM & OWNERS

Date of Establishment : 14^th May 2009

Legal Form : Sole Proprietorship

Trade Licence No. : 572778 (Expires 13/05/2012)

Chamber Member No. : 88699

Invested Capital : UAE Dh 1,000,000

Mr Navid Choudary is the sole proprietor of the business.

OPERATIONS

Activities: Engaged in the import and distribution of lubricants, bitumen and oil based products.

Import Countries: Europe and the Far East.

Subject has a workforce of 2 employees.

FINANCIAL DATA

Companies registered in Sharjah are not legally required to make their accounts public and no financial information was released by the company or submitted by outside sources.

BANKERS

· National Bank of Sharjah

Al Boorj Avenue

PO Box: 4

Sharjah

Tel: (971-6) 5547747

PAYMENT HISTORY

No complaints regarding subject’s payments have been reported.

GENERAL COMMENTS

Mr Navid Choudary confirmed that the subject has submitted a request to change legal form to a limited liability company in the near future and he is the process of looking for a new local sponsor.

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.52.96
UK Pound	1	Rs.82.04
Euro	1	Rs.68.91

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.