MIRA INFORM REPORT

Report Date :

16.07.2011

IDENTIFICATION DETAILS

Name :	DRIESSEN INTERNATIONAL B.V.

Registered Office :	Voltstraat 5, 5753RL Deurne

Country :	Netherlands

Financials (as on) :	31.12.2009

Date of Incorporation :	22.12.1998

Com. Reg. No.:	17108188

Legal Form :	Limited Company

Line of Business :	Wholesale of chemical raw materials and chemicals for industrial application

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 :	€ 200.000

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 – March 31^st, 2011

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

Netherlands

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

Bottom of Form

CONTACTINFORMATION

Company name	Driessen International B.V.
Tradename	Driessen International B.V.
	Castor International
	Winter-time
	Winter-time.nl
Address	Voltstraat 5
	5753RL Deurne
	Netherlands
Mail address	Postbus 96
	5750AB Deurne
	Netherlands
Telephone number	0493750600
Telefax number	0493750609
E-mail address	info@driessen-group.com
Website	www.castor-international.nl
VAT number	NL807304657B01

CREDIT LIMIT

Credit limit A credit of € 200.000 may be granted Normal

COMPANY STRUCTURE

Shareholder Duka B.V.

Voltstraat 5 5753RL DEURNE

Netherlands

KvK: 13003853

Active since: 11-12-1998

Percentage: 100.00%

Ultimate parent company 3 D Beheer B.V.

Voltstraat 5 5753RL

DEURNE

KvK: 17129444

Holding company Driessen Beheer B.V.

Voltstraat 5 5753RL

DEURNE

KvK: 17013377

Affiliated companies Deurne Products B.V.

Voltstraat 5 5753RL

DEURNE

KvK: 17043059

Lijfrentefonds Driessen B.V.

Vlierdenseweg 185

5756AB VLIERDEN

KvK: 17050333

Driessen Logistics B.V.

Voltstraat 5 5753RL

DEURNE

KvK: 17058792

Driessen Vlierden Transport B.V.

Voltstraat 5 5753RL

DEURNE

KvK: 17200665

Driessen International Custom Services DICS B.V.

Voltstraat 5 5753RL

DEURNE

KvK: 34096501

Bankers ING Bankers NV

Real estate Lease

Value: € 180.000

The real estate is checked at the land registration office

Object code: DEURNE E 2883

Owner: DRIESSEN BEHEER B.V.

MANAGEMENT

Management Driessen Beheer B.V.

Voltstraat 5

5753RL DEURNE

Netherlands

KvK: 17013377

Authorization: Fully authorized

Position: Manager

Date appointed: 01-08-2001

PAYMENT INFORMATION

Payment experiences Payments are regular

FINANCIAL INFORMATION

Publication financial statement

Annual accounts 2009 are published on 20-08-2010

Annual accounts 2008 are published on 06-08-2009

Annual accounts 2007 are published on 18-02-2009

Type of publication

Publication

Corporate

Publication according to obligations by law

CORE FIGURES

CORE FIGURES
BOOKYEAR	2009	2008	2007
Quick ratio	1,06	1,47	1,28
Current ratio	2,.28	3,15	1,64
Nett workingcapital / Balance total	0,52	0,66	0,37
Capital and reserves / Balance total Solvency	1,46	0,69	0,43
Capital and reserves / Fixed assets	8,17	19,54	7,64
Nett workingcapital	1.369.000	1.409.000	1.123.000
Capital and reserves	1.561.000	1.485.000	1.292.000
Change capital and reserves	5,12%	14,94%	15,05%
Change Short Term Liabilities	63,66%	-62,51%	-11,05%

Annual accounts The company is obligated to publish its annual accounts

Last annual accounts 2009

Tendency Upward

Tendency capital and reserves

Capital and reserves 2009 1.561.000

Total debt 2009 1.072.000

Current ratio 2009 2,28

Quick ratio 2009 1,06

Nett workingcapital 2009 1.369.000

Profitability Positive

Solvency Sufficient

Liquidity Sufficient

Current- & Quickratio

BALANCE sheet

(Currency in Euro)

BOOKYEAR	2009	2008	2007
End of bookyear	31-12-2009	31-12-2008	31-12-2007
Financial assets	191.000	76.000	169.000
Fixed assets	191.000	76.000	169.000

Stocks and work in progress	1.304.000	1.099.000	626.000
Accounts receivable	1.083.000	343.000	1.322.000
Liquid assets	54.000	623.000	922.000
Current assets	2.441.000	2.064.000	2.870.000
Total assets	2.632.000	2.140.000	3.039.000

Capital and reserves	1.561.000	1.485.000	1.292.000
Other short term debts	1.072.000	655.000	1.747.000
Total short term debt	1.072.000	655.000	1.747.000
Total debt	1.072.000	655.000	1.747.000
Total Liabilities	2.632.000	2.140.000	3.039.000

Company structure

3 D Beheer B.V. (17129444)

DEURNE

Driessen United B.V. (17157417)

DEURNE

Management relation (100%)

3 SN B.V. (17171590)

EINDHOVEN

Management relation (100%)

Driessen Beheer B.V. (17013377)

DEURNE

Management relation (100%)

Deurne Products B.V. (17043059)

DEURNE

Management relation (100%)

Lijfrentefonds Driessen B.V. (17050333)

VLIERDEN

Subsidiary (100%)

Driessen Logistics B.V. (17058792)

DEURNE

Subsidiary

Driessen International B.V. (17108188)

Deurne

Management relation (100%)

Driessen Vlierden Transport B.V. (17200665)

DEURNE

Subsidiary

Driessen International Custom Services DICS B.V. (34096501)

DEURNE

Subsidiary

3P-Invest B.V. (17238308)

EINDHOVEN

Management relation (100%)

SAM B.V. (17279314)

DEURNE

Management relation (100%)

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.53
UK Pound	1	Rs.71.91
Euro	1	Rs.62.98

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.

CONTACTINFORMATION

CREDIT LIMIT

COMPANY INFORMATION

COMPANY STRUCTURE

MANAGEMENT

PAYMENT INFORMATION

FINANCIAL INFORMATION

CORE FIGURES

BALANCE sheet

Company structure

Unit