MIRA INFORM REPORT

Report Date :

07.07.2011

IDENTIFICATION DETAILS

Name :	COMMOD LLC

Registered Office :	Baga Toiruu 62, Sukhbaatar district, Ulaanbaatar 210620A

Country :	Mongolia

Date of Incorporation :	17.08.2001

Legal Form :	Limited Liability Company

Line of Business :	Importers, wholesalers and retailers of construction materials and mining 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 :	TUGRIK 10,000,000
Status :	Small Company
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)

Mongolia

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

Bottom of Form

Company NAME

Commod LLC

Company ADDRESS

Street : Baga Toiruu 62

Area : Sukhbaatar district

Town : Ulaanbaatar 210620A

Country : Mongolia

Telephone : (976 11) 313 686 / Mobile (976 99) 114 201 (Butzorig Chimeddorzh)

Fax : (976 11) 313 686

E-Mail : commod@mongolnet.mn

SENIOR COMPANY PERSONNEL

Name Position

1. Aleksandr Kim Managing Director

(Russian national)

2. Butzorig Chimeddorzh Director

Total Employees : 10

PAYMENTS

No complaints have been heard regarding payments from local suppliers

or banks.

We consider it is acceptable to deal with subject for SMALL amounts,

however in view of the lack of financial information we recommend international suppliers exercise a degree of caution.

Opinion on maximum credit : TUGRIK 10,000,000 (higher amounts may be considered with full fiscal disclosure)

Trade risk assessment : Normal

It is normal accepted practice for international suppliers to deal on secured terms with Mongolian importers.

PRINCIPAL BANKERS

NAME : TRADE & DEVELOPMENT BANK OF MONGOLIA

Branch : Khudaldaany Gudamj 7, Baga Toiruu 12

Town : Ulaanbaatar

Telephone : (976 11) 312 363

Fax : (976 11) 325 449

FINANCIAL INFORMATION

Private companies in Mongolia are not required to publish or disclose balance sheets. Balance sheets are not available from other sources, and the subject interviewed declined to give any financial information, which the company regards as strictly confidential.

LEGAL STATUS AND HISTORY

Date Started : 17 August 2001

Tax No.: 2685841

Capital : not given

Limited Liability Company with the following shareholders :

Details of the company's shareholders could not be obtained and the

subject was uncooperative on the matter.

ACTIVITIES

The Company is involved in the following activities :

Importers, wholesalers and retailers of construction materials and mining equipment.

Imports from Russia and China.

Subject does not export, all sales are domestic.

FACILITIES

The Company has the following facilities :

Office premises located at the heading address.

Until 2010 subject was located at :

Baga Toiruu 46/1

8 Khoroo

Sukhbaatar District

Ulaanbaatar

SPECIAL NOTE

Interviewed : Butzorig Chimeddorzh (Director)

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.38
UK Pound	1	Rs.71.24
Euro	1	Rs.64.16

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.