MIRA INFORM REPORT

Report Date :

29.01.2011

IDENTIFICATION DETAILS

Name :	AURUM INTERNATIONAL FZC
Registered Office :	Saif Zone, P O Box 9198, Sharjah
Country :	United Arab Emirates
Financials (as on) :	31.12.2010
Date of Incorporation :	15.05.2008
Legal Form :	Free Zone Company
Line of Business :	Distributors of jewellery, precious metals and stones

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

Status :	Satisfactory
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 – June 30, 2010

Country Name	Previous Rating (01.04.2010)	Current Rating (30.06.2010)
United Arab Emirates	a2	a2

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

SUMMARY

Company Name : AURUM INTERNATIONAL FZC

Country of Origin : Sharjah, United Arab Emirates

Legal Form : Free Zone Company - FZC

Registration Date : 15^th May 2008

Trade Licence Number : 06178

Issued Capital : UAE Dh 150,000

Paid up Capital : UAE Dh 150,000

Total Workforce : 4

Activities : Distributors of jewellery, precious metals and stones.

Financial Condition : Fair

Payments : Nothing detrimental uncovered

Operating Trend : Steady

Person Interviewed : Anuruk Arvind Kumar Mawada, Managing Director

COMPANY NAME

AURUM INTERNATIONAL FZC

company ADDRESS

Registered Address

Location : Saif Zone

PO Box : 9198

Town : Sharjah

Country : United Arab Emirates

Physical Address

Building : 405 Atrium Centre, 4^th Floor

Street : Khalid Ibn Al Walid Street

Area : Bur Dubai

PO Box : 115749

Town : Dubai

Country : United Arab Emirates

Telephone : (971-4) 3593120

Facsimile : (971-4) 3593170

Mobile : (971-50) 1014979

Email : aurum.intl@yahoo.com / aurum.intl@eim.ae

Premises

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

KEY PRINCIPALS

Name Nationality Position

· Anuruk Arvind Kumar Mawada Indian Managing Director

· Koshal Pravin Chandra Indian Director

LEGAL FORM & OWNERS

Date of Establishment : 15^th May 2008

Legal Form : Free Zone Company - FZC

Trade Licence No. : 06178 (Expires 14^th May 2011)

Issued Capital : UAE Dh 150,000

Paid up Capital : UAE Dh 150,000

Name of Shareholder (s)

· Anuruk Arvind Kumar Mawada

· Koshal Pravin Chandra

OPERATIONS

Activities: Engaged in the import and distribution of jewellery, precious metals and stones.

Operating Trend: Steady

Subject has a workforce of 4 employees.

FINANCIAL DATA

Financial highlights provided by local sources are given below:

Currency: United Arab Emirates Dirham (UAE Dh)

Year Ending 31/12/09: Year Ending 31/12/10:

Total Sales UAE Dh 8,200,000 UAE Dh 10,000,000

Local sources consider subject’s financial condition to be Fair.

The above figures were provided by Mr Anuruk Arvind Kumar Mawada, Managing Director

BANKERS

· Mashreq Bank Plc

Deira Branch

PO Box: 1250

Dubai

Tel: (971-4) 2229131 / 2221134

Fax: (971-4) 2233784

PAYMENT HISTORY

No complaints regarding subject’s payments have been reported.

GENERAL COMMENTS

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.45.74
UK Pound	1	Rs.72.73
Euro	1	Rs.62.73

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

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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