MIRA INFORM REPORT

Report Date :

05.01.2011

IDENTIFICATION DETAILS

Name :	JABIL CIRCUIT INDIA PRIVATE LIMITED
Formerly Known As :	PCB CONTRACT MANUFACTURING SERVICES (INDIA) PRIVATE LIMITED
Registered Office :	17^th Floor, Nirmal Towers, Nariman Point, Mumbai – 400 021, Maharashtra
Country :	India
Financials (as on) :	31.08.2009
Date of Incorporation :	27.08.2002
Com. Reg. No.:	11-136997
CIN No.: [Company Identification No.]	U32109MH2002PTC136997
TAN No.: [Tax Deduction & Collection Account No.]	PNEJ04704A
PAN No.: [Permanent Account No.]	AACCP7114K
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Products as Consumer Electronics, Medical Electronics, IT Equipments

RATING & COMMENTS

MIRA’s Rating :

B (26)

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

Maximum Credit Limit :	USD 5667000
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having moderate track. Profitability of the company is under severe pressure. There appears to be huge accumulated losses recorded by the company. However trade relations are reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some caution.

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 – April 1, 2010

Country Name	Previous Rating (31.12.2009)	Current Rating (01.04.2010)
India	A1	A1

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

INFORMATION PARTED BY

Name :	Mr. P. V. Joshi
Designation :	General Manager
Contact No.:	91-22-66425687
Date :	04.12.2010

LOCATIONS

Registered Office :	17^th Floor, Nirmal Towers, Nariman Point, Mumbai – 400 021, Maharashtra, India
Tel. No.:	91-22-66559701/2/3/4 and 66370031/32/66425706
Fax No.:	91-22-66559705
E-Mail :	manishi.pathak@kochhar.com puneet.arora@kochhar.com delhi@kochhar.com
Website :	www.jabil.com
Head Office :	5^thand 17^th Floor, World Trade Centre І, Cuffe Parade, Mumbai – 400 005, Maharashtra, India
Tel. No.:	91-20-27112082/27112085/27112086
Fax No.:	91-20-27112086
E-Mail :	d_sanyal@jabi.com
Factory 1 :	Plot No.80, MIDC, Bhosari Industrial Estate, Pimpri, Pune - 411026, Maharashtra State, India
Tel. No.:	91-20-27112082/27112085/27112086
Fax No.:	91-20-27112086
E-Mail :	d_sanyal@jabi.com
Area :	85000 Sq. fts
Location :	Owned
Factory 2 :	B-26, MIDC, Ranjangaon, Taluka Sirur, District Pune – 412 220, Maharashtra, India
Tel. No.:	91-2138-662000
Fax No.:	91-2138-660759
Area :	(Land) 79786 Sq. fts
World H.Q.:	10560, 9^th Street North, St. Peters Burg, Florida 337106, USA
Tel. No.:	7275779749

DIRECTORS

As on 27.02.2010

Name :	Mr. Forbes Ian James Alexander
Designation :	Director
Address :	1604, Country Trails Drive, Safety Harbor, FL 34695, U.S.A.
Date of Appointment :	31.01.2003
Name :	Mr. Meheryar Kakhushard Dastoor
Designation :	Additional Director
Address :	1918, Lago Vista Boulevard, Parlm Harbor Florida-346885, US mike_dastoor@jabil.com
Date of Birth/Age :	20.10.1965
Date of Appointment :	28.09.2006
Name :	Mr. Rajarshi Nirmal Chakrabarti
Designation :	Director (Alternate to Mr. Meheryar Kakhushard Dastoor)
Address :	14^th Floor, 1406 Dosti Carnation, Wadala East, Mumbai – 400 037, Maharashtra, India rajarshi@mumbai.kochhar.com
Date of Birth/Age :	04.11.1972
Date of Appointment :	28.09.2006
Name :	Mr. Manishi Virendra Pathak
Designation :	Director (Alternate to Mr. Forbes Ian James Alexdander)
Address :	C-27, Rashmi Apartments, Harsh Vihar, Pitampura, New Delhi – 110 034, India Manishi.pathak@kochhar.com
Date of Birth/Age :	23.02.1969
Date of Appointment :	01.03.2004
Name :	Mr. Anoop kumar Mehrotra
Designation :	Director
Address :	10-B, Tower D, Viceroy Park, Thakur Village, Kandivali (East), Mumbai- 400 101, Maharashtra, India
Date of Appointment :	10.10.2008
Name :	Mr. John Peter Lovato
Designation :	Director
Address :	AV Bois Du Dimanche 21 A, Bruxelles, Belgium 1150
Date of Appointment :	02.01.2009
Name :	Mr. Otto Johannnes Theodorus Maria Bik (Dutch)
Designation :	Director
Address :	Tweeriten 30, 5673 TV Nuenen, The Netherlands 5673TV
Date of Appointment :	02.01.2009
Name :	Mr. Sergio Alonso Cadavid
Designation :	Director
Address :	14749, Waterchase Boulevard, Tampa, Florida, USA.- 33626
Date of Appointment :	12.12.2006
Name :	Mr. S. Purushothuman K. Swaminathan
Designation :	Director
Address :	2701, Eldora Apartments, B Wing, Hiranandani Gardens, Powai, Mumbai – 400076, Maharashtra, India
Date of Birth/Age :	19.01.1966
Date of Appointment :	27.02.2010
Name :	Mr. Dayal Prasad
Designation :	Managing Director
Address :	1844 E, Monterey St. Chandler, Arizona 85225
Date of Birth/Age :	13.05.1952
Date of Appointment :	31.05.2007

KEY EXECUTIVES

Name :	Mr. P. V. Joshi
Designation :	General Manager
Name :	Ms. Supriya Mohta
Designation :	Company Secretary
Address :	A-504, RNA Regency Park, Kandivali (West), M G Road, Mumbai-400067, Maharashtra, India
Date of Appointment :	01.11.2003
Date of Ceasing :	02.05.2008
Name :	Ms. Hansa Vaidya
Designation :	Company Secretary
Address :	507/B Ashoka Apartments, Mahatma Phule Road, Mumund (East), Mumbai- 400 081, Maharashtra, India
Date of Appointment :	07.01.2008

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 27.02.2010

Names of Shareholders (Equity Shares)	No. of Shares
Jabil (Mauritius) Holdings Limited, Mauritius	314969444
Jabil Circuit Limited, Scotland	1
Total	314969445

As on 27.02.2010

Names of Shareholders (Preference Shares)	No. of Shares
Jabil (Mauritius) Holdings Limited, Mauritius	66000000
Total	66000000

As on 27.02.2010

Equity Share Breakup	Percentage of Holding
Category
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of Products as Consumer Electronics, Medical Electronics, IT Equipments
Exports :
Products :	Circuit Boards and Set Up Boxes
Countries :	USA
Imports :
Products :	Raw Material
Countries :	· China · UK · Japan · USA · Singapore
Terms :
Selling :	Advanced Payment (30 Days)
Purchasing :	L/C, Cash (30 Days)

PRODUCTION STATUS (As on 31.08.2009)

Particulars	Unit	Installed Capacity
ICs (DTA)	Nos.	1200000
ICs (EHTP)	Nos.	2160000
Plastic Moulding (A, B and D Cover and Light Guide)	Nos.	310440136

Particulars	Unit	Actual Production
ICs (DTA)	Nos.	1025007
ICs (EHTP)	Nos.	1360175
A, B and D Cover	Nos.	33791711
Light Guide	Nos.	12179080

GENERAL INFORMATION

Customers :

• Philips (India) Limited
• Videocon International Limited
• BPL (India) Limited
• OEM’s

No. of Employees :

2000 (Approximately)

Bankers :

• Citi Bank , D.N. Road, Fort, Mumbai 400001, Maharashtra, India
• HSBC Bank
• BNP Bank
• Mizuho Bank

Facilities :

Unsecured Loans :	As on 31.08.2009 Rs. in Millions	As on 31.08.2008 Rs. in Millions
HSBC Bank Term Loan (Repayable within one year: Rs.400.000 millions)	400.000	400.000
Citi Bank Working Capital Loan	0.000	400.000
HSBC Bank Pre Shipment Loan	0.000	307.562
Citi Bank Buyers Credit	0.000	514.845
Citi Bank Pre -shipment Loan	1041.213	19.772
Citi Bank Post -shipment Loan	0.000	591.277
BNP Bank Pre- Shipment Loan	0.000	525.455
Mizuho Bank Pre- Shipment Loan	0.000	393.819
Inter-company Loan (Repayable within one year: Rs.895.000 millions)	895.000	0.000
Total	2336.213	3152.730

All Bank Loans are granted on the basis of Promissory note issued by the company.

Banking Relations :	--
Auditors :
Name :	BSR and Company Chartered Accountants
Address :	KPMG House, Kamala Mills Compound, 448 Senapati Bapat Marg, Lower Parel, Mumbai – 400 013, Maharashtra, India
Tel. No.:	91-22-30440800
Fax No.:	91-22-30440900
Parent Company :	Jabil (Mauritius) Holdings Limited, Mauritius
Ultimate Parent Company :	Jabli Circuit Inc., US
Fellow Subsidiaries :	Jabli Circuit Inc.,JTS Jabli Circuit Inc., US-St. Petersburg FL (Florida) Jabli Circuit Netherlands B.V. (Eindhoven) Jabli Circuit SON BHD, Malaysia Jabil Do Brazil Industria Electroelectronica Jabli Circuit (Guangzhou) Limited, (China Huangpu) Jabil Honk Kong Jabli Circuit – Auburn Hills Jabli Circuit Technology India Private Limited Jabli Circuit Limited (Scotland) Jabli Circuit Inc., US, San Jose, CA (California) Jabli Circuit (Singapore) Pte. Limited (CMS Singapore) Jabli Circuit (Shanghai) Company Limited Jabli Circuit, SAS (Brest) Jabli Circuit Inc., US (Massachusetts) Jabli Circuit, Hungary Jabil Global Services Szombathely (Hungary) Celetronix India Private Limited Celetronix Power India Private Limited Jabli Circuit Inc., Mexico (Guadalajara) Jabil South Interplant Vendor Jabli Circuit Inc., Mexico (Chihuahua) Jabli Circuit Inc., Mexico (Guadalajara) Jabli Circuit Italia, s.r.l. (Marcianise/ Caserta) Jabli Do Brazil Industria Electroelectronica (Manaus) Jabli Circuit Poland Sp. Z.O.O. Jabli Circuit St. Petersburg Jabli Circuit UK Limited, UK Jabli Circuit (Beijing) Limited Jabli Circuit China Holding Company Jabli Circuit (Panyu) Limited, China GreenPoint Precision (Malaysia) SdnBhd – GPP GreenPoint (Suzhou) Technology Company Limited, GPS Taiwan Green Point Enterprises Company Limitd – GPS Jabli Circuit Inc., Reynosa Jabli Circuit Hungary Limited Jabil Global Service Shanghai Jabli Circuit Austria GmbH (Vienna) Jabli Circuit Inc., US-Memohis, TN (Memphis) Jabli Circuit Ukraine Limited (Ukraine) Jabil Global Services – St. Petersburg, FL Jabil Global Services Netherlands B.V. (Amsterdam) Jabil Memphis JGS Reynosa Sypro Optics GmbH Jabil Circuit Belgium N.V

CAPITAL STRUCTURE

Authorised Capital :

No. of Shares	Type	Value	Amount
434000000	Equity Shares	Rs.10/- each	Rs.4340.000 millions
66000000	Redeemable Preference Shares	Rs.10/- each	Rs.660.000 millions
	Total		Rs.5000.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
314969445	Equity Shares	Rs.10/- each	Rs.3149.694 millions
66000000	Redeemable Preference Shares	Rs.10/- each	Rs.660.000 millions
	Total		Rs.3809.694 millions

Of the above, 314969444 shares are held by Jabil (Mauritius) Holdings Limited (the “Parent Company”), a company registered in Mauritius and 1 share is held by Jabil Circuit Limited, a company registered in the United Kingdom. The company’s ultimate parent company(the “Ultimate Parent Company”) is Jabil Circuit Inc., a company.

The 66000000 Redeemable Non-Cumulative Preference Shares are held by Jabil (Mauritius) Holdings Limited (the “Parent Company”). The Redeemable Preference Shares carry 10% dividend.

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.08.2009	31.08.2008	31.08.2007
SHAREHOLDERS FUNDS
1] Share Capital		3809.694	2292.754	863.910
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.000	0.000	0.000
4] (Accumulated Losses)		(2392.901)	(1951.679)	(859.515)
NETWORTH		1416.793	341.075	4.395
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		2336.213	3152.730	1821.918
TOTAL BORROWING		2336.213	3152.730	1821.918
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		3753.006	3493.805	1826.313
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		2562.722	2478.901	780.735
Capital work-in-progress		51.444	256.777	1155.265
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	2661.597	2739.902	477.631
	Sundry Debtors	1661.945	2613.987	116.042
	Cash & Bank Balances	26.797	180.001	262.439
	Other Current Assets	0.000	0.000	0.062
	Loans & Advances	418.444	356.174	293.904
Total Current Assets		4768.783	5890.064	1150.078
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	2352.571	2859.412	489.934
	Other Current Liabilities	1182.292	2233.483	744.207
	Provisions	95.080	39.042	25.624
Total Current Liabilities		3629.943	5131.937	1259.765
Net Current Assets		1138.840	758.127	(109.687)
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		3753.006	3493.805	1826.313

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.08.2009	31.08.2008	31.08.2007
	SALES
		Sales Turnover	14738.913	8090.388	2025.941
		Job Work Charges	216.435	0.000	0.000
		Other Income	54.126	5.231	84.333
		TOTAL (A)	15009.474	8095.619	2110.274
Less	EXPENSES
		Material Cost	12846.491	6929.618	1870.991
		Personnel Costs	663.589	598.835	186.653
		Manufacturing and Other Expense	1170.765	1075.495	319.312
		TOTAL (B)	14680.845	8603.948	2376.956
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		328.629	(508.329)	(266.682)
Less	INTEREST (D)		229.365	193.154	72.409
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		99.264	(701.483)	339.091
Less/ Add	DEPRECIATION/ AMORTISATION (F)		535.266	385.581	132.502
	PROFIT BEFORE TAX (E-F) (G)		(436.002)	(1087.064)	(471.593)
Less	TAX (H)		5.220	5.100	3.951
	PROFIT AFTER TAX (G-H) (I)		(441.222)	(1092.164)	(475.544)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(1951.679)	(859.515)	(383.971)
	BALANCE CARRIED TO THE B/S		(2392.901)	(1951.679)	(859.515)
	EARNINGS IN FOREIGN CURRENCY
		F.O.B. Value of Exports	12318.975	6509.207	NA
		Reversal of Corporate Support Charges	47.401	0.000	NA
		Support and Traveling Costs Recovered	51.947	11.618	NA
	TOTAL EARNINGS		12418.323	6520.825	NA
	IMPORTS
		Capital Goods	329.230	142.002	NA
		Stores & Spares	46.565	86.254	NA
		Raw Materials	10794.353	8126.180	NA
	TOTAL IMPORTS		11170.148	8354.436	NA
	Earnings Per Share (Rs.)		(1.95)	(14.01)	(17.95)

Particulars	31.08.2010
Sales Turnover	17000.000

Expected Sales (2010-2011) : Rs.17000.000 millions

KEY RATIOS

PARTICULARS		31.08.2009	31.08.2008	31.08.2007
PAT / Total Income	(%)	(2.94)	(13.49)	(22.53)
Net Profit Margin (PBT/Sales)	(%)	(2.96)	(13.44)	(23.28)
Return on Total Assets (PBT/Total Assets}	(%)	(5.95)	(12.99)	(24.42)
Return on Investment (ROI) (PBT/Networth)		(0.31)	(3.19)	(107.30)
Debt Equity Ratio (Total Liability/Networth)		4.21	24.29	701.18
Current Ratio (Current Asset/Current Liability)		1.31	1.15	0.91

LOCAL AGENCY FURTHER INFORMATION

Details of Sundry Creditors:

Particulars	31.08.2009 (Rs. in millions)	31.08.2008 (Rs. in millions)	31.08.2007 (Rs. in millions)
Sundry Creditors- Micro and Small Enterprises	0.000	0.000	0.000
Sundry Crediotrs	2352.571	2859.412	489.934

Performance of the Company:

The Company bearing registration No. U32109MH2002PTC136997 is a subsidiary of Jabil (Mauritius) Holdings Limited, (a group company of Jabil Circuit, Inc., USA).

Share Capital

The authorized share capital of the Company at the end of this financial year was Rs. 5000.000 millions divided into 6,60,00,000 redeemable preference shares of Rs. 10/- each and 43,40,00000 equity shares of Rs. 10/- each. The issued, subscribed and paid up share capital of the Company is Rs.3809.694 millions consisting of 6,60,00,000 redeemable preference shares of Rs. 10/- each held by Jabil (Mauritius) Holdings Limited and 314,969,444 equity shares of Rs. 10/- each held by Jabil Mauritius Holdings Limited, except one (1) Equity Share of Rs. 10/- held by Jabil Circuit Limited.

Background

The Company was incorporated on 27 August 2002 as PCB Contract Manufacturing Services (India) Private Limited, a subsidiary of, Koninklijke Philips Electronics N.V. Netherlands (‘KPENV’).

The Company acquired the business involving the assembly and customisation of all types, varieties and specifications of printed circuit boards from Philips India Limited (“Philips”) with effect from 23 November 2002 in accordance with the terms of the Business Transfer Agreement.

On 28 January 2003, Jabil (Mauritius) Holdings Limited, Mauritius (‘the Parent Company’) and Jabil Circuit Limited, UK acquired the shareholding of PCB Contract Manufacturing Services (India) Private Limited from KPENV. Consequently, the name of the Company was changed to its present name. The principal shareholders are group companies of Jabil Circuit Inc., U.S.A. (‘the Ultimate Parent Company’).

The Company had sub-leased factory premises from Philips India Limited at M.I.D.C. Bhosari Estate, Pimpri, Pune from where the business was carried on until July 2005, subsequent to which the entire operations have been relocated to its own premises at Ranjangaon near Pune. The Company’s principle activities at Ranjangaon comprise of assembling Printed Circuit Boards for Set top boxes.

The Company had registered a part of its Ranjangaon factory under the Electronics and Hardware Technology Parks (‘EHTP’) scheme in June 2007. Commercial production under the EHTP scheme has commenced in October 2007 and is catering to overseas customers as well as customers within the country having an export setup.

The Company had commenced commercial production of cell phone accessories at its Chennai unit (‘SEZ’) situated in Nokia Telecom SEZ, Sriperumbudur, Tamilnadu in October 2007, however the unit has discontinued operations from March 2009.

Going Concern:

The Company had accumulated losses of approximately INR 2.393 millions as at 31 August 2009 as compared to a paid-up equity and preference share capital of INR 3.810 millions.

However, Management believes that the Company will be able to continue operations on a going concern basis and meet all its liabilities as they fall due for payment in the foreseeable future on the basis of the following:

• Financial, operational and technical support from the Parent Company, Jabil (Mauritius) Holdings Limited; in this regard, the Company has received a letter dated 30 August 2009 from the Parent Company confirming that they will provide the necessary financial support for a period of at least 24 months from the date of the Letter, (i.e. till 30 August 2011)

• Business strategies and operating plans which will enable the Company to generate operating cash flows in the future; and

• Committed line of credit with its bankers.

Accordingly, these financial statements do not include any adjustments relating to the recoverability and classification of the carrying amount of assets or the amount and classification of liabilities that might result should the Company be unable to continue as a going concern.

CONTINGENT LIABILITIES:

Particulars	31.08.2009 (Rs. in millions)
Bond with the customs authorities	61.035
Bank guarantees	66.698
Income tax matters (under appeal)	26.700

Trade Reference:

· Philips India Limited

· BPL India Limited

FIXED ASSETS:

· Goodwill

· Leasehold Land

· Building-Factory

· Leasehold Improvements

· Non Factory Building

· Non Factory – Other Plant and Machinery

· Plant and Machinery

· Furniture and Fixtures

· Office Equipments

· Computers

· Computer Software

· Vehicles

WEBSITE DETAILS:

Company Overview

Jabil is a global electronic product solutions company that provides comprehensive electronics design, manufacturing and product management services to companies across the globe. Jabil serves customers in a broad range of industries, helping to bring products to the market faster and more cost effectively by providing complete electronics product supply chain management worldwide.

Jabil is strategically structured with three core business divisions: EMS, Consumer and After-Market Services. Each division has full ownership and accountability for design, operations, supply chain and delivery.

Jabil also has a unique, customer-centric structure for its largest customers, who are assigned dedicated business units that combine highly automated manufacturing with advanced electronic design. These business units are dedicated to one customer and are empowered to formulate strategies tailored to individual customer needs. Each business unit has dedicated production lines and direct responsibility for manufacturing results to ensure a sense of individual commitment and ownership.

Consumer Division

Jabil's Consumer division serves the needs of the consumer products industry, including mobility and displays (cell phones and mobile products), connected displays (televisions), set-top boxes and peripheral products.

EMS Division

The EMS division focuses on the traditional and emerging electronic manufacturing services business sectors, including aerospace and defense; automotive; business automation; computing and storage; industrial, instrumentation and medical; networking; and telecommunications. Both traditional and emerging sector customers primarily sell directly to business or organizations and outsource as a means of reducing internal design and manufacturing costs while focusing on the core of their business.

After Market Division

The After Market Services division provides end-to-end reverse supply chain solutions to the consumer electronics, mobile devices, computing and storage, networking and telecommunications and peripherals markets. Services include advanced exchange, inventory management, end-user repair and return, warranty administration, returns refurbishment, reverse logistics, screening and triage services and environmental disposal.

COMPANY MILESTONES:

2009

• Jabil posts revenue of $11.7B for fiscal year 2009.
• Jabil won Frost and Sullivan’s 2009 Market Leadership of the Year Award in the Global EMS Medical Market.
• Jabil Tiszaujaros wins National Quality Award.
• Jabil Singapore receives Silver Award in Workplace Safety and Health Performance.
• Jabil Singapore receives Secure Trade Partnership Plus certification from Singapore Customs.

2008

• Jabil posts revenue of $12.8B for fiscal year 2008.
• Jabil receives Global ISO 9001 and ISO 140012 Certification.
• Jabil expands Mexico presence with addition of operations in Zapopan.

2007

• Jabil posts revenue of $12.3B for fiscal year 2007.
• Jabil announces agreement for Nokia Siemens Networks to transfer two Italian manufacturing operations to Jabil.
• Jabil reorganizes to establish Consumer Electronics, EMS and After-Market Services divisions to serve the unique needs of its customers.
• Jabil Expands Asia Presence with the addition of a facility in Ho Chi Minh City, Vietnam.
• Jabil is first electronics manufacturing services company to receive prestigious Mexican government's National Quality Award.
• Jabil announces successful completion of tender offer for Taiwan Green Point Enterprises.

2006

• Jabil posts revenue of $10.3B for fiscal year 2006.
• Jabil announces tender offer for Taiwan Green Point Enterprises.
• Jabil’s Billerica, Mass., operation is awarded Federal Aviation Administration repair station certification.
• Jabil begins construction of its new Greenfield facility in the Special Economic Zone (SEZ) Zarkappatya, Uzhgorod.
• Jabil announces acquisition of Celetronix.
• Jabil and Carl Zeiss create joint venture – Sypro Optics -- to develop and manufacture optical modules and engines.
• Jabil’s Livingston, Scotland operation is awarded Aerospace Standard AS9100 certification.

2005

• Jabil posts revenue of US$7.5B for fiscal year 2005.
• Standard and Poor's upgrades Jabil’s credit rating to Investment Grade.
• Jabil completes acquisition of manufacturing electronics business from Varian, Inc.
• Jabil Singapore is awarded AS9100 Aerospace Certification.
• Jabil’s Brest, France, operations achieve EN 9100 certification - the European-region version of the International Aerospace Quality Group (IAQG) 9100 Quality Management System.

2004

• Jabil posts revenues of US$6.3 billion for fiscal year 2004.
• Jabil breaks ground on two Asia expansions.

2003

• Jabil posts revenues of US$4.7 billion for fiscal year 2003.
• Jabil achieves aerospace certification and gains international recognition as having AS9100 aerospace registered operations.

2002

• Jabil acquires Philips Contract Manufacturing Services.
• Jabil expands into Shanghai.

2001

• Jabil is added to the S and P 500 Index.
• Jabil introduces Supplier Information System (SIS), enabling real-time, Internet-based transactions with suppliers.
• Jabil opens Tokyo operations.

2000

• William D. Morean retires as CEO, remains Chairman of the Board. Timothy L. Main is named CEO.
• Jabil introduces its Customer Information System (CIS), enabling information sharing over the Internet with customers.
• Jabil implements a B2B direct order fulfillment solution using RosettaNet standards.

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No records exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.84
UK Pound	1	Rs.69.32
Euro	1	Rs.59.79

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	-
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	-
--CREDIT LINES	1~10	3
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		26

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%)

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	-

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.