MIRA INFORM REPORT

Report Date :

23.07.2011

IDENTIFICATION DETAILS

Name :	EMICOS INTERNATIONAL

Registered Office :	Jebel Ali, PO Box 16758, Dubai

Country :	United Arab Emirates

Year of Establishment :	1986

Legal Form :	Private Independent

Line of Business :	Manufacture of cosmetics

RATING & COMMENTS

MIRA’s Rating :

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

Status :	Satisfactory

Payment Behaviour :	Usually Correct

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)

United Arab Emirates

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

Company name & address Bottom of Form

Emicos International

Jebel Ali

PO Box 16758

Dubai,

United Arab Emirates

Tel: 971 (4) 8816516

Fax: 971 (4) 8816009

Web www.emicosintl.com

Synthesis

Employees: 300

Company Type: Private Independent

Incorporation Date: 1986

Reporting Currency: UAE Dirham

Annual Sales: NA

Total Assets: NA

Business Description

Manufacture of cosmetics

Industry

Industry Personal and Household Products

ANZSIC 2006: 1852 - Cosmetic and Toiletry Preparation Manufacturing

NACE 2002: 2452 - Manufacture of perfumes and toilet preparations

NAICS 2002: 325620 - Toilet Preparation Manufacturing

UK SIC 2003: 2452 - Manufacture of perfumes and toilet preparations

US SIC 1987: 2844 - Perfumes, Cosmetics, and Other Toilet Preparations

Key Executives

Name Title

Sanjay Punatar Managing Director

Jay Seth Chairman

1 - Profit & Loss Item Exchange Rate: USD 1 = AED

2 - Balance Sheet Item Exchange Rate: USD 1 = AED

Corporate Overview

Location

Jebel Ali

PO Box 16758

Dubai, United Arab Emirates

Tel: 971 (4) 8816516

Fax: 971 (4) 8816009

Web www.emicosintl.com

Sales AED(mil): NA

Assets AED(mil): NA

Employees: 300

Industry: Personal and Household Products

Incorporation Date: 1986

Company Type: Private Independent

Quoted Status: Not Quoted

Managing Director: Sanjay Punatar

· Industry Codes

· Business Description

· Key Corporate Relationships

Industry Codes

ANZSIC 2006 Codes:

1852 - Cosmetic and Toiletry Preparation Manufacturing

NACE 2002 Codes:

2452 - Manufacture of perfumes and toilet preparations

NAICS 2002 Codes:

325620 - Toilet Preparation Manufacturing

US SIC 1987:

2844 - Perfumes, Cosmetics, and Other Toilet Preparations

UK SIC 2003:

2452 - Manufacture of perfumes and toilet preparations

Business Description

Manufacture of cosmetics

Key Corporate Relationships

Bank: United Arab Bank, Standard Chartered Bank

Executives

Board of Directors

Name

Title

Function

Jay Seth

Chairman

Executives

Name

Title

Function

Sanjay Punatar

Managing Director

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.38
UK Pound	1	Rs.72.34
Euro	1	Rs.63.87

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.