MIRA INFORM REPORT

Report Date :

02.06.2011

IDENTIFICATION DETAILS

Name :	DEEP OCEAN MARINE ENGINEERING LLC
Registered Office :	Raysut Industrial Estate, P O Box 1247, Salalah 211
Country :	Oman
Year of Establishment :	2008
Legal Form :	Limited Liability Company
Line of Business :	Operators of a recycling plant

RATING & COMMENTS

MIRA’s Rating :

Ba

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

Maximum Credit Limit :	US$ 150,000
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)
Oman	a2	a2

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

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SUMMARY

Company Name : DEEP OCEAN MARINE ENGINEERING LLC

Country of Origin : Oman

Legal Form : Limited Liability Company – LLC

Registration Date : 2008

Issued Capital : RO 150,000

Paid up Capital : RO 150,000

Total Workforce : 65

Activities : Operators of a recycling plant.

Financial Condition : Undetermined

Payments : Nothing detrimental uncovered

Recommended Credit Limit : US$ 150,000

COMPANY NAME

DEEP OCEAN MARINE ENGINEERING LLC

company ADDRESS

Registered & Physical Address

Location : Raysut Industrial Estate

PO Box : 1247

Town : Salalah 211

Country : Oman

Telephone : (968) 22018999

Facsimile : (968) 22018999 / 23210966

Mobile : (968) 99288799 / 96320294

Email : info@domel-me.com

Premises

Subject operates from a small suite of offices that are rented and located in the Industrial Area of Salalah.

KEY PRINCIPALS

Name Position

· Sayed Ahmed Al Khathiri Managing Director

· Ishaq Ashraf Operations Manager

· Naim Khan Commercial Manager

LEGAL FORM & OWNERS

Date of Establishment : 2008

Legal Form : Limited Liability Company – LLC

Issued Capital : RO 150,000

Paid up Capital : RO 150,000

Name of Shareholder (s)

· Sayed Ahmed Al Khathiri

· Local businessmen and private investors

OPERATIONS

Activities: Engaged as operators of a recycling plant.

Subject has a workforce of 65 employees.

FINANCIAL DATA

Companies registered in Oman are not legally required to make their accounts public and no financial information was released by the company or submitted by outside sources.

BANKERS

· National Bank of Oman Limited (SAOG)

Port Raysut Branch

PO Box: 944

Salalah 211

Tel: (968) 22219032

Fax: (968) 22211040

PAYMENT HISTORY

No complaints regarding subject’s payments have been reported.

GENERAL COMMENTS

During the course of this investigation nothing detrimental was uncovered regarding subject’s operating history or the manner in which payments are fulfilled. As such the company is considered to be a fair trade risk.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.89
UK Pound	1	Rs.73.85
Euro	1	Rs.64.76

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.