MIRA INFORM REPORT

Report Date :

23.12.2011

IDENTIFICATION DETAILS

Name :	EURASIA STEEL TRADING
Registered Office :	No. 37, Jalan Selat Selatan 17, Portland Industrial Area, Pelabuhan Klang, Selangor Darul Ehsan, Zip/postal code 42000
Country :	Malaysia
Date of Incorporation :	23.03.2011
Com. Reg. No.:	SA0184221-X
Legal Form :	Sole Proprietorship
Line of Business :	trading of scrap metal
No. of Employees :	3 persons

RATING & COMMENTS

MIRA’s Rating :

NB

RATING		STATUS	PROPOSED CREDIT LINE
----	NB	New Business	----

Status :	New Concern
Payment Behaviour :	Unknown
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)
Malaysia	a2	a2

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

Bottom of Form

Identification details Bottom of Form

Verified Address

Subject name : EURASIA STEEL TRADING

Business address : No. 37, Jalan Selat Selatan 17

Portland Industrial Area

Town : Pelabuhan Klang

Province : Selangor Darul Ehsan

Zip/postal code : 42000

Country : Malaysia

Tel : +60 3 31655999

Fax : +60 3 31682779

Email : infofcl@asia.com

Registered address : No. 37, Jalan Selat Selatan 17

Portland Industrial Area

Town : Pelabuhan Klang

Province : Selangor Darul Ehsan

Zip/postal code : 42000

_{Country : Malaysia}

Summary details

Executive Summary

Date founded or registered : 23/03/2011

Legal form : Sole Proprietorship

Chief executive : Chitarasu A/L P.Thennarasu

Issued & paid up capital : Not required

Line of business : Trading in scrap metal.

Staff employed : 3 employees

Credit risk opinion

Company Analysis

Country risk : Country risk is minimal

Operation trend : Operational trend is in start-up phase

Management experience : Management is inadequately experienced

Financial performance : Financial performance is undetermined

Organization structure : Organizational structure is acceptable

Detrimental : No detrimental records found

Payment history : No payment delays noted

Credit amount suggestion : Fully secured terms.

Credit amount asked : Not described.

Comments : It is advisable to conduct all business dealing on prepayment or L/C basis due

to the Subject’s recent date of establishment.

Statutory details

Registry Data

Registration date : 23/03/2011

Legal form : Sole Proprietorship

Registration no : SA0184221-X

Registered authority : Companies Commission of Malaysia

Registry status : Live/Active

Previous name : None reported.

Change of legal form : None reported.

Management / directors

Key Management

Name : Chitarasu A/L P.Thennarasu

Designation : Director

Name : Kokilavany A/P Veeriah

_{Designation : Financial Manager}

Board of directors / other appointments

Appointments

Name Chitarasu A/L P.Thennarasu

Designation Director

Identification no : 860112-43-6061

Appointment date 23/03/11

Address No. 9, Jalan Raja Nong 9A Taman Bunga Raya

41000 Klang

Selangor Darul Ehsan

Malaysia

Biography Gender: Male Race: Indian Nationality: Malaysian Date of Birth: 12-01-1986

_{Staff employed : 3 employees}

Share capital

Composition

Authorized Capital : Not required

Issued capital : Not required

Paid up capital : Not required

ownership / shareholders

How listed : Full List

Composition

Shareholder name Chitarasu A/L P.Thennarasu

Address No. 9, Jalan Raja Nong 9A Taman Bunga Raya

41000 Klang

Selangor Darul Ehsan

Malaysia

_{% of shares 100%}

Related companies & corporate Affiliations

Structure

Related companies and corporate affiliations comments : None Reported

Bank & mortgages

Bank Details

Name of bank : CIMB Bank Berhad

Address : Malaysia

Account details : Current Account

Comments : It is generally not the policy of local banks to provide credit status information to non related parties, however interested parties would be advised to consult first with the Subject if banker's references are required.

Mortgages: None reported.

Legal Fillings

Bankruptcy fillings : None reported.

Court judgements : None reported.

Tax liens : None reported.

Others : None reported.

financial data

Description

Comments : The Subject is a registered Sole Proprietorship company and is not required to reveal their financial information to the public. In addition the Subject was recently established. We contacted Ms. Kokilavany A/P Veeriah and she advised that monthly turnover of the Subject is between MYR 300,000 to MYR 500,000.

Operation details

Main activities : The Subject is engaged in trading of scrap metal.

Purchases

Local : Yes

International : Very seldom from Italy, Vietnam

Sales

International : 100% sales to India

Property & Assets

Premises : The Subject operates from premises located at the verified heading address consisting of administrative office.

_{Branches : None reported.}

Summarized country risk

Gross Domestic Products (GDP) & Economic Overview

Central bank : Central Bank of Malaysia

Reserve of foreign exchange & gold : US$135.0 billion as of 15 December 2011

Gross domestic product - GDP : US$ 247.781 billion

GPP (Purchasing power parity) : 442.01 billion of International dollars

GDP per capita - current prices : US$ 8,624

GDP - composition by sector : agriculture: 9.4% industry: 40.9% services: 49.7%

Inflation 2008: 5.4%

2009: 0.6%

2010: 1.7%

Unemployment 2008 : 3.3 %

2009 : 3.6 %

2010: 3.3 %

Public debt

(General Government gross

debt as a % GDP) 2008: 42.8 %

2009: 55.4 %

_{2010: 54.2%}

Government bond ratings Standard & Poor's: A-/Stable/A-2

Moody's rating: A3

Moody's outlook: STA

Market value of publicly traded shares US$ 420 billion

Largest companies in the country : CIMB Group Holdings (Banking), Sime Darby (Conglomerates), Public Bank (Banking), Maybank (Banking), Tenaga Nasional(Utilities), Petronas Chemicals, Maxis Berhad

Trade & Competitiveness Overview

Total exports US$210.3 billion

Exports commodities electronic equipment, petroleum and liquefied natural gas, wood and

wood products, palm oil, rubber, textiles, chemicals

Total imports US$156.2 billion

Imports commodities electronics, machinery, petroleum products, plastics, vehicles, iron and

steel products, chemicals

Export - major partners US 15.6%, Singapore 14.6%, Japan 9.1%, China 8.8%, Thailand 5%,

HongKong 4.6%

Import - major partners Japan 13%, China 12.9%, Singapore 11.5%, US 10.8%, Taiwan 5.7%,

Thailand 5.3%, South Korea 4.9%, Germany 4.6%, Indonesia 4.2%

FDI Inflows 2007: US$8,538 million

2008: US$7,318 million

_{2009: US$1,381 million}

FDI Outflows 2007: US$11,280 million

2008: US$14,988 million

2009: US$8,038 million

Best countries for doing business 21 out of 183 countries

Global competitiveness ranking 26 (ranking by country on a basis of 133, the first is the best)

Country and Population Overview

Total population : 28.23 million

Total area : 329,847 km2

Capital : Kuala Lumpur

_{Currency : Malaysia Ringgits (MYR)}

Internet users as % of total population : 57.61%

Payment history

Purchase Term

Local : Credit 1-14 days, Prepayment

International : Telegraphic transfer

Sales Term

International : Telegraphic transfer

Trade Reference/ Payment Behaviour

Comments : As local and international trade references were not supplied, the Subject's payment track record history cannot be appropriately determined but based on our research, payments are believed to be met without delay.

Investigation Note

Sources : Interviews and material provided by the Subject

: Other official and local business sources

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.52.78
UK Pound	1	Rs.82.73
Euro	1	Rs.68.88

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.