MIRA INFORM REPORT

Report Date :

08.07.2011

IDENTIFICATION DETAILS

Name :	SERVICES AND TRADE COMPANY LLC

Registered Office :	807 Building, Way No 4223, opposite to Mazda Showroom, Wadi Al Kabir, P.O. Box 823 Ruwi 112, Muscat

Country :	Oman

Date of Incorporation :	27.10.1977

Com. Reg. No.:	1057685

Legal Form :	Limited Liability Company

Line of Business :	Importers, exporters and distributors of all interior decorating materials and items

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	RO 300,000

Status :	Good

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)

Oman

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

company NAME

Services And Trade Company LLC (Correct)

SERVICES AND TRADE COMPANY EST (Requested)

company ADDRESS

Building : 807 Building

Street : Way No 4223, opposite to Mazda Showroom

Area : Wadi Al Kabir

P.O. Box : 823 Ruwi 112

Town : Muscat

Country : Oman, Sultanate of

Telephone : (968) 2481 1455 / 2481 1955

Fax : (968) 2481 6945 / 2481 6915

E-Mail : stcspd@omantel.net.om

Shortform Name : S&T

Also Known As : Services & Trade Co / Services & Trade Co. LLC (S&T)

SENIOR COMPANY PERSONNEL

Name Position

1. Brigadier Suleiman Mohammed Chairman

Yahya Al Adwy

2. Istigama Musalam Al Barwani Vice Chairman

3. Wakkas Al Adwy Director

4. P.N.C. Menon Managing Director

5. R.P. Balakrishnan Chief Financial Officer

7. Lakshamy Sridahar (Ms) Assistant Chief Financial Officer

Total Employees : 1,500 (subject)

5,000 (subject and its affiliates)

PAYMENTS

No complaints have been heard regarding payments from local suppliers or banks.

We consider it is acceptable to deal with subject for LARGE amounts.

Opinion on maximum credit : RO 300,000

Trade risk assessment : Normal

Opinion on the credit figure of US DLRS 150,000 :

We consider the above figure to be within the company's financial capabilities.

PRINCIPAL BANKERS

NAME : OMAN INTERNATIONAL BANK

Branch : Main Branch

P.O. Box : 1727

Town : Seeb 111

Telephone: (968) 2468 2500

Fax : (968) 2468 2800

The Company also has an account with the following banks :

1. Bank Muscat (SOAG)

Main Branch

Al Burj Street, Muttrah Commercial District 1073

PO Box 134, Ruwi 112

Muscat

Telephone: (968) 2476 8888 / 2470 3044

Fax : (968) 2470 7806 / 2470 5506

2. National Bank of Oman (SAOG)

Main branch

PO Box 751 Ruwi 112

Muscat

Telephone: (968) 2470 8894

Fax : (968) 2470 3972

FINANCIAL INFORMATION

Private companies in Oman, Sultanate of are not required to publish

or disclose balance sheets. However, the subject interviewed

offered the following information :

Sales Turnover : RO 3,300,000 - 1992 - exact

: RO 3,200,000 - 1993 - exact

: RO 4,100,000 - 1994 - exact

: RO 5,000,000 - 1995 - exact

: RO 6,000,000 - 1996 - exact

: RO 6,500,000 - 1997 - exact

: RO 7,000,000 - 1998 - exact

: RO 7,000,000 - 1999 - exact

: RO 7,000,000 - 2000 - approx

: RO 8,000,000 - 2001 - approx

: RO 8,000,000 - 2002 - exact

: RO 8,000,000 - 2003 - approx

: RO 8,000,000 - 2004 - approx

: RO 10,000,000 - 2005 - approx

: RO 11,500,000 - 2006 - approx

: RO 11,000,000 - 2007 - approx

: RO 11,000,000 - 2008 – exact

: RO 12,000,000 - 2009 - exact

: RO 25,000,000 – 2010 – exact

: RO 35,000,000 – 2011 - projected

Net Profit : not given, but stated to be 10-12%

Financial year ends 31 December.

LEGAL STATUS AND HISTORY

Date Started : 27 October 1977

History : Subject was established in 27 October 1977 as general partnership. In 2006, subject changed its legal status to a limited liability company and adopted the present style.

C.R. No. : 1057685 (expiry date: 26/10/2013)

Authorised Capital : RO 2,000,000

Paid up Capital : RO 2,000,000

Limited Liability Company with the following shareholders :

Percentage

1. P.N.C. Menon 40 %

(Indian national)

2. Brigadier Suleiman Mohammed Yahya Al Adwy 30 %

(Omani national)

3. Istigama Musalam Al Barwani 30 %

(Omani national)

Personal Profile on Suleiman Mohammed Yahya Al Adwy :

Brigadier Suleiman Mohammed Yahya Al Adwy is an Omani national. He

was born in 1951. He is the Brigadier General at the Omani Royal

Brigade and is married with children.

Affiliated companies of Services and Trade Company LLC :

Subject is a member of Sobha Group of companies, which also includes the following companies:

1. Industrial Management Trading & Contracting LLC. (Imtac)

PO Box 196 Ruwi 116

Muscat

Sultanate of Oman

Telephone: (968) 2470 7727

2. Al Madina Engineering & Industrial Works LLC

PO Box 764

PC 115

Madinat Sultan Qaboos

Sultanate of Oman

Telephone: (968) 2450 3911

Fax : (968) 2450 3235

Email : www.almadinamarble.com

3. Sobha Contracting LLC

PO Box 52687

Dubai

United Arab Emirates

Telephone: (971 4) 337 2077 / 335 5448

Fax : (971 4) 337 2080

4. M/s Shoba Contracting LLC

Plot No. TP 010214 & TP 010222,

Opposite Mattito,

Techno Park, Free Zone South,

Jebel Ali,

Dubai,

United Arab Emirates

Telephone: (971 4) 886 7500 (ext- 723)

Fax : (971 4) 886 7800

5. Sobha Developers Pvt Ltd

E-106 Sunrise Chambers

22 Ulsoor Road

Bangalore 560042

India

Telephone: (91 80) 559 4139

Fax : (91 80) 559 4138

E-mail : info@stcgroups.com

Associates

1. Furniture Makers Company LLC

Ruwi / Muscat

PO Box 3823

Telephone: (968) 2335 5448

Fax : (968) 2470 6915

2. Indeset Trading and Decorating Services Llc

Carera Building Mezzanine Floor Room No 1

Karama Street

PO Box 52687

Dubai

UAE

Telephone: (971 4) 434 8018

Fax : (971 4) 436 8987

3. Indeset Construction Llc

Dubai

UAE

Telephone: (971 4) 335 0726

4. Indeset Building Materials L.L.C

PO Box52687

Dubai

UAE

Telephone: (971 4) 335 5448

Fax : (971 4) 335 0447

5. Gulf International Construction & Interiors Co.

PO Box 10345

Doha

Qatar

Telephone: (974) 4467 2003

Fax : (974) 4466 9089

ACTIVITIES

The Company is involved in the following activities :

Importers, exporters and distributors of all interior decorating

materials and items, such as furniture, paints, wall paper, as well

as wall and floor coverings.

Interior painting and decorating contractors working on local villas,

palaces, five-star hotels, commercial complexes and office blocks.

Cabinet makers and distributors.

NACE Code: 4753 / 4752 / 4759 / 4333

Imports from Denmark, France, the Netherlands, Germany, Canada,

Brazil, Malaysia, Myanmar, Singapore, UK, US, China and Thailand.

Exports to Germany, India, Brunei and the GCC countries.

FACILITIES

The Company has the following facilities :

Owned premises comprising several administrative offices, a showroom, 2 large storage facilities and a workshop located at the heading address.

Subject was formerly located at Dhufar Street.

SPECIAL NOTE

You enquired on: Services And Trade Company Est. Please note that the correct name is as per heading.

The address which you provided: Ruwi Services & Trade Bldnear Land Rover Service Station is incorrect. Please note that subject's correct administrative office address is as per heading.

The Banker which you provided: Bank Dhofar Al Omani Al Fransi TBA is incorrect. Please note that subject's correct bankers are as mentioned in the “PRINCIPAL BANKERS” section.

Interviewed : Lakshamy Sridahar (Ms)(Assistant Chief Financial Officer)

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.42
UK Pound	1	Rs.70.95
Euro	1	Rs.63.63

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.