MIRA INFORM REPORT

Report Date :

01.06.2011

IDENTIFICATION DETAILS

Name :	COALNERGY MINERALS PTE. LTD.

Formerly Known As :	MAHESWARI BROS OVERSEAS PTE. LTD.

Registered Office :	435 Orchard Road #19-01 Wisma Atria Singapore 238877

Country :	Singapore

Financials (as on) :	31.12.2009

Date of Incorporation :	24.01.2007

Com. Reg. No.:	200701303R

Legal Form :	Limited Exempt Private Company

Line of Business :	General wholesale trade

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 :	S$279,000
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)

Singapore

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

Executive Summary

Company Name	:	COALNERGY MINERALS PTE. LTD.
Registration No	:	200701303R
Date of Registration	:	24/01/2007
Former Name	:	MAHESWARI BROS OVERSEAS PTE. LTD. Eff. date : 24/01/2007 Eff. date : 24/01/2007
Date of Change of Name	:	04/10/2010
Type of Company	:	LIMITED EXEMPT PRIVATE COMPANY
Registered Address	:	435 ORCHARD ROAD #19-01 WISMA ATRIA SINGAPORE 238877
Date of Change of Address	:	01/01/2011
Contact No.	:	NA
Fax No.	:	NA
Website	:	NA
Registered Activities	:	1. GENERAL WHOLESALE TRADE (INCLUDING GENERAL IMPORTERS AND EXPORTERS) 2. WHOLESALE ON A FEE OR CONTRACT BASIS (EG COMMISSION AGENTS)
Issued Ordinary Capital*	:	$50,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 50,000
Issued Preference Capital	:	NA
Paid-Up Ordinary Capital	:	$50,000.00 SINGAPORE, DOLLARS
Paid-Up Preference Capital	:	NA
* Number of Shares includes number of Issued Treasury Shares
Issued Treasury Capital	:	NA
Paid-Up Treasury Capital	:	NA
No. of Local Subsidiaries	:	NA
No. of Local Associates	:	NA
Auditor	:	BSPL PAC
Bankers / Financiers	:	BNP PARIBAS
Turnover	:	SGD - SIN 55,428,723.00 (FY2009)
Net Worth	:	SGD - SIN 1,863,212.00 (FY2009)
No. of Bank Charges	:	2
No. of Litigation Suits	:	NA
S1000 / SME 500 / FG50 Ranking	:	No found for SINGAPORE 1000 and SME 1000
Compounded Annual Growth Rate (CAGR)	:	NA

Credit Recommendation

Recommended Credit Line

S$279,000

SHAREHOLDER DETAILS

NAME	:	NABIN TULADHAR
SHAREHOLDER ID	:	F1162642N
NATIONALITY	:	NEPALESE
ADDRESS	:	435 ORCHARD ROAD #16-05 WISMA ATRIA SINGAPORE 238877
NO. OF ORD SHARES	:	25,000
% OF SHAREHOLDING	:	50%
CURRENCY	:	SINGAPORE, DOLLARS

NAME	:	BIJAY KUMAR MANDHANI
SHAREHOLDER ID	:	Z1866334
NATIONALITY	:	INDIAN
ADDRESS	:	4TH FLOOR, MANDHANI COMPLEX, RAJBHAVAN ROAD, HYDERABAD 500082
NO. OF ORD SHARES	:	24,999
% OF SHAREHOLDING	:	50%
CURRENCY	:	SINGAPORE, DOLLARS

NAME	:	SHYAM SUNDER BAJAJ
SHAREHOLDER ID	:	S7360144D
NATIONALITY	:	SINGAPORE P.R.
ADDRESS	:	106 RIVERVALE WALK #05-122 SINGAPORE 540106
NO. OF ORD SHARES	:	1
% OF SHAREHOLDING	:	0%
CURRENCY	:	SINGAPORE, DOLLARS

OFFICER DETAILS

NAME	:	NABIN TULADHAR
ADDRESS	:	435 ORCHARD ROAD #16-05 WISMA ATRIA SINGAPORE 238877
POSITION	:	DIRECTOR
DATE OF APPT	:	04/04/2008
NATIONALITY	:	NEPALESE
I/C PASSPORT	:	F1162642N

NAME	:	AMIT MANDHANI
ADDRESS	:	111-113 MARUTI APTS SOMAJIGUDA RAJ BHAVAN ROAD HYDERABAD A.P.
POSITION	:	DIRECTOR
DATE OF APPT	:	04/04/2008
NATIONALITY	:	INDIAN
I/C PASSPORT	:	G4475440

NAME	:	TONY CHUA CHWEE BOCK
ADDRESS	:	17 TELOK BLANGAH CRESCENT #19-282 SINGAPORE 090017
POSITION	:	SECRETARY
DATE OF APPT	:	04/04/2008
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S0019417D

NAME	:	TAN BEE HNG
ADDRESS	:	537 ANG MO KIO AVENUE 5 #02-4056 SINGAPORE 560537
POSITION	:	DIRECTOR
DATE OF APPT	:	01/09/2010
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S1794686B

NAME	:	SHOBHA BAJAJ
ADDRESS	:	106 RIVERVALE WALK #05-122 SINGAPORE 540106
POSITION	:	DIRECTOR
DATE OF APPT	:	20/04/2011
NATIONALITY	:	SINGAPORE P.R.
I/C PASSPORT	:	S7584536G

NAME	:	BIJAY KUMAR MANDHANI
ADDRESS	:	4TH FLOOR, MANDHANI COMPLEX, RAJBHAVAN ROAD, HYDERABAD 500082
POSITION	:	DIRECTOR
DATE OF APPT	:	24/01/2007
NATIONALITY	:	INDIAN
I/C PASSPORT	:	Z1866334

NAME	:	PAWAN KUMAR
ADDRESS	:	5-8-291/4 MAHESH NAGAR COLONY CHIRAG ALI LANE HYDERABAD A.P.
POSITION	:	DIRECTOR
DATE OF APPT	:	04/04/2008
NATIONALITY	:	INDIAN
I/C PASSPORT	:	Z1866414

KEY PERSONNEL PROFILE

Name:	NABIN TULADHAR
NRIC Number:	F1162642N
Available Address:	435 ORCHARD ROAD #16-05 WISMA ATRIA SINGAPORE 238877

Current Business Interest

No.	Name	Position	Appt Date	#of Share	%
1	COALNERGY MINERALS PTE. LTD.	DIRECTOR	04/04/2008	25000	50.00
2	GLOBALMATICS RENEWABLE ENERGY (GRE) SINGAPORE PTE. LTD.	SHAREHOLDER	-	60000	60.00
3	GLOBALMATICS TRADING PTE LTD	DIRECTOR	23/06/1987	138499	55.39

Previous Business

No.

Name

Status

Position

Appt Date

Last Known Inactive Date

SOBHA INTERNATIONAL PTE. LTD.

STRUCK OFF

DIRECTOR

11/07/2003

27/08/2008

VIET-TRADE CORPORATION (S) PTE LTD

STRUCK OFF

DIRECTOR

23/01/1992

Bankruptcy Record

Case No.	Year	Date of Filing	Petitioner Name	Amount
No Trace

Litigation Search – Writ of Summons

Court	Case No.	Year	Date of Filing	Amount	Cause Category
No Trace

SUBSIDIARIES AND ASSOCIATE COMPANIES

Company	Shareholdings (%)

NA

BANKERS/ FINANCIERS

Subject enjoys a normal banking routine with its bankers. To date, there have been 2 bank charges registered against Subject by its bankers. The charge numbers are:

1)	Charge No.	:	C201104525
	Date of Registration	:	12/04/2011
	Chargee	:	BNP PARIBAS
	Amount Secured and Currency	:	All Monies
	Address	:	20 COLLYER QUAY #01-01 TUNG CENTRE SINGAPORE 049319

2)	Charge No.	:	C200905295
	Date of Registration	:	25/08/2009
	Chargee	:	BNP PARIBAS
	Amount Secured and Currency	:	All Monies
	Address	:	20 COLLYER QUAY #01-01 TUNG CENTRE SINGAPORE 049319

LITIGATION

Clear

COMPLIANCE RECORDS

Date of Last AGM	:	30/06/2010
Date of Last AR	:	23/07/2010
Date of A/C Laid At Last AGM	:	31/12/2009

FINANCIAL HIGHLIGHTS

Financial Figures	Company
	DEC 2009	% Change	DEC 2008	DEC 2007
Currency	SGD - SIN		SGD - SIN	SGD - SIN
Profit and Loss Key Figures
Turnover	55,428,723	289.17	14,242,634	0
Profit/(Loss) Before Tax	1,254,253	55.70	805,559	13,397
Profit After Tax attributable to Shareholders	1,075,183	53.49	700,493	13,397

Balance Sheet Key Figures
Total Assets	6,304,922	-39.04	10,342,038	21,829
Current Assets	6,304,922	-39.04	10,342,038	21,829
Non Current Assets	0	NA	0	0

Total Liabilities	4,441,710	-53.63	9,577,923	8,430
Current Liabilities	4,441,710	-53.63	9,577,923	8,430
Non Current Liabilities	0	NA	0	0

Shareholders' Funds	1,863,212	143.84	764,115	13,399
Share Capital	52,639	3.13	51,042	2
Total Reserves	1,810,573	153.91	713,073	13,397

FINANCIAL RATIOS

	Company
	DEC 2009	DEC 2008	DEC 2007
Growth %
Year-on-Year Growth	289.17	NA	NA

Profitability
Profit Margin (%)	1.94	4.92	0.00
Return on Equity (%)	57.71	91.67	99.99
Return on Assets (%)	17.05	6.77	61.37

Leverage
Total Debt/Equity (Times)	2.38	12.53	0.63
Current Debt/Equity (Times)	2.38	12.53	0.63
Long Term Debt To Equity (Times)	0.00	0.00	0.00
Total Asset To Total Equity (Times)	3.38	13.53	1.63

Asset Management
Total Assets Turnover (Times)	8.79	1.38	0.00
Fixed Assets Turnover (Times)	0.00	0.00	0.00

Liquidity
Current Ratio (Times)	1.42	1.08	2.59

FINANCIAL COMMENTARY

Profitability

The company yielded a rate of net profit on sales of 1.94 per cent in FY09 (FY08: 4.92 per cent). The company is now able to book in SGD - SIN 0.02 of profit for every SGD - SIN of sales in FY09, as compared with SGD - SIN 0.05 a year ago.

Liquidity

Current ratio stood at 1.42 times in FY09 (FY08: 1.08 times). This means that the company has SGD - SIN 1.42 of current assets for every SGD - SIN of current liability incurred.

A minimum figure of 1.0 would be considered the lowest limit that this figure should reach. Any business that has a current ratio near 1.0 may be heading for liquidity problems, and would need to be closely monitored. A figure greater than 2.0 would be more desirable, to act as a buffer against any short-term liquidity problems, and give creditors/bank managers a degree of comfort when granting credit/finance.

Leverage

Total debt-to-equity ratio notched 2.38 times in FY09, as compared with 12.53 times in FY08. This means that the company requires additional external financing of SGD - SIN 2.38 for every SGD - SIN injected into its operations.

Generally, a total debt-to-equity ratio of less than 0.5 times is preferred. The ratio measures the proportion of the company's reliance on external debt for financing, relative to the shareholder's fund. A lower ratio would imply a greater financial safety and operating freedom for the company.

Efficiency Ratio

Return on equity was 57.71 per cent for Subject in the current financial period, as compared to 91.67 per cent a year ago. The return on equity measures the return earned on the owner's investment. Generally, the higher this return, the better off the owner.

Return on assets stood at 17.05 per cent (FY08: 6.77 per cent). The return on asset measures the overall effectiveness of management in generating profit with its available assets.

Total assets turnover ratio logged at 8.79 times in FY09 (FY08: 1.38 times). This ratio measures the company's ability to make productive use of its total assets to generate sales which reflects the efficiency of the management in utilising its resources.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.45.03
UK Pound	1	Rs.74.43
Euro	1	Rs.64.75

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.