MIRA INFORM REPORT

Report Date :

04.06.2011

IDENTIFICATION DETAILS

Name :	M. KOUYOUMDJIAN LIMITED
Registered Office :	48, Onasagorou Street, Nicosia, 1011 Nicosia
Country :	Cyprus
Financials (as on) :	2010
Date of Incorporation :	07.02.2000
Com. Reg. No.:	C108808 Nicosia
Legal Form :	Private Limited Liability Company
Line of Business :	Exporters & Importers of Family Clothing Stores

RATING & COMMENTS

MIRA’s Rating :

B

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate
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)
Cyprus	b1	b1

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

Bottom of Form

company Name & Address

NAME INQUIRED UNDER:

M Kouyoumdjian Ltd

Correct Registered Name:

M. KOUYOUMDJIAN LIMITED

Address:

48, Onasagorou Street Nicosia 1011 Nicosia CYPRUS

P.O.Box:

21782-1513

Telephone:

+357-22666438 357-22-666438

Fax:	+357-22678868

Email:

Non Retrievable

Web:	Not Applicable

Business address:

48, Onasagorou Street Nicosia 1011 Nicosia CYPRUS

Payment

PAYMENT HABITS:

No Complaints

Good For Amount & Terms Of Inquiry:

Unable to comment Given the fact that no detailed financial statements were released to us , we feel unable to comment on a maximum credit.

Commercial Morality:

Moderate

Financial Strength:

Unable to comment Given the fact that no recent detailed financial statements were released to us, we feel unable to express a safe and reliable opinion on their creditability, payment records and Financial Strength.

Legal Status

Legal Form:

Private Limited Liability Company Private Limited Liability Company: It is incorporated by one or more individuals or companies (maximum: 50). It is managed by a board of directors consisted of minimum two individuals or juridical persons. Capital is required. The shareholders are liable for the company�s debts to the extent of their respective interests in the capital. Its shares are not to be sold through public subscription. Private Limited Liability companies are obliged to file their accounts with the Registrar of Companies (Company Registry).

Registration number and city:

C108808 Nicosia

Registration date:

07.02.2000

National ID: C108808

Company Status

Registration status: 07.02.2000 - registered company
Activity status: 07.02.2000 - Company is active

Principals

Principals:

Shareholders
Full Name	Personal ID	Function	Nationality	Equity	Address
Mr. Soultanik Kougioumtzian		Shareholder		33.33	48, Onasagorou Street Nicosia CYPRUS
Mr. Onnik Kougioumtzian		Shareholder		16.67	48, Onasagorou Street Nicosia CYPRUS
Mr. Mekertits Kougioumtzian		Shareholder		16.67	48, Onasagorou Street Nicosia CYPRUS
Mr. Charoutoun Kougioumtzian		Shareholder		16.67	48, Onasagorou Street Nicosia CYPRUS
Mr. Paret Kougioumtzian		Shareholder		16.66	48, Onasagorou Street Nicosia CYPRUS

Management
Full Name	Personal ID	Age	Function	Nationality	Qualification	Experience	Address
Mr. Onnik Kougioumtzian			Director		Not retrievable	Not retrievable	48, Onasagorou Street Nicosia CYPRUS
Mr. Mekertits Kougioumtzian			Director		Not retrievable	Not retrievable	48, Onasagorou Street Nicosia CYPRUS
Mr. Soultanik Kougioumtzian			Director		Not retrievable	Not retrievable	48, Onasagorou Street Nicosia CYPRUS
Mr. Charoutoun Kougioumtzian			Director		Not retrievable	Not retrievable	48, Onasagorou Street Nicosia CYPRUS
Mr. Paret Kougioumtzian			Director / Secretary		Not retrievable	Not retrievable	48, Onasagorou Street Nicosia CYPRUS

Activities

Activities:

Exporters & Importers

Operations:

SIC   main activity   5651 Family Clothing Stores   5641 Children's and Infants' Wear Stores   5621 Women's Clothing Stores   2329 Men's and Boys' Clothing, NEC (contractors) The company in question was established in order to get involved with import , export and trade of unisex clothing and fabrics. According to Mr Kouyoumdjian, M. KOUYOUMDJISN LIMITED was established in order to take over the activities of M. KOUYOUMDJIAN & CO and the partnership is currently dormant. Business Activities Clothing Stores, Family-retail Medical And Chemicals Factories Industry Classifications - NAICS » Clothing Stores

Motor Vehicles

	2011
Number of vans	owned: 5
Number of cars	owned: 2
Total number of vehicles	7

Imports:

Payment terms:

Special Agreements

EUROPEAN UNION, FAR EAST

KOREA, REPUBLIC OF, JAPAN, EUROPE, ITALY

Exports

Payment terms:

Special Agreements

MIDDLE EAST

Agencies

Name	Country	Product
DONATA	ITALY
CIMMINO	ITALY

Trade Suppliers

Same as agencies

Workforce

Number Of Employees:

10

Description Of Premises

Address:	48, Onasagorou Street 1011 NICOSIA CYPRUS
Type of premises:	Premises
Address:	Capital Center, 7th Floor, Office 703, 2-4, Archbishop Makariou III Avenue 1065 Nicosia CYPRUS
Type of premises:	Registered Address

Headquarters:

The company operates from owned premises which are located at the address given overleaf

Branches:

Subject has 2 branches in Nicosia Strovolos Industrial Area, Strovolos, Nicosia, Cyprus. These are owned warehouse premises. Size: 1500 square metres. 6 A B C Sapfous street, 1011, Nicosia, Cyprus. These are

Related Companies

Affiliated Company
M. KOUYOUMDJIAN & CO , CYPRUS

*PLEASE NOTE ADDITIONAL INFORMATION ON RELATED COMPANIES:

"M. KOUYOUMDJIAN & CO ” - Affiliated company, registered in Cyprus under the registration number N1509. According to Mr Kouyoumdjian, M. KOUYOUMDJISN LIMITED was established in order to take over the activities of M. KOUYOUMDJIAN & CO and the partnership is currently dormant.

Bankers

BANK OF CYPRUS PUBLIC COMPANY LIMITED
2002 Nicosia, 51, Stasinou Street, Ayia Paraskevi, Strovolos

Marfin Popular Bank Public Company Limited
1065 Nicosia, 39 Archbishop Makarios III Avenue


Account numbers are not disclosed

Press

03.06.2011, No press / media available at present

Auditors / Accountants

Non Retrievable

Share Capital

Registered capital:	EUR 51,300.00 since 01.01.2008
Number of Ordinary:	30,000
Value per share of Ordinary:	EUR 1.71
Issued capital:	EUR 51,300.00 since 01.01.2008
Number of Ordinary:	30000
Value per share of Ordinary:	EUR 1.71
Paid-up capital:	EUR 51,300.00 since 01.01.2008

Charges

None in current years

Finance

Amounts shown in Euro (EUR) (Approximately)		2010	2009
	PROFIT & LOSS
	Sales Turnover	500,000.00	500,000.00

Please note that the latest financial details have not been released to us. The latest financial details are not available at the file of the company at the Official Companies Registry House; as the law provides for all companies. Further financial details are not available from other public sources.

Financial accounts are available at the Department of Registrar of Companies, provided that the company has submitted the compulsory accounts.

The annual general meeting of a company is convened within eighteen months of the date of its registration. Forty two days later the company should file its first annual return with the Registrar of Companies. Once a year, the annual return must be submitted. This should be done within fifteen months from the previous annual return, without disregarding the calendar year (sections 118, 120 and 125 cap. 113).

All Cypriot Companies, whether local or international, must maintain accurate books of accounts, which should reflect the true and correct position of their conduct, as well as give adequate explanation of their operations.

The Cypriot Company Law, which is closely modeled on its English counterpart, entails that company accounts must comprise of the following:

- Directors' report.

- Auditor's report.

- Financial statements as prescribed by International Financial Reporting Standards (IFRS) and consolidated Financial Statements in case of parent companies (unless specifically exempted).

Audited financial statements and an Income Tax Return are required for all companies, even companies with no taxable income and/or dormant companies.

Registered Branches (in Cyprus) of foreign companies are not legally bound to compile full separate branch accounts however when taxed on the island, are obliged to do so for income tax purposes.

Additionally they have to submit accounts of the main company, translated into Greek, to the Department of Registrar of Companies.

Partnerships are exempt from any requirement to prepare audited accounts, but they are legally bound to keep proper books of account which must be available for scrutiny by individual partners.

GENERAL COMMENTS

MAIN SOURCES OF INFORMATION - FOR THIS REPORT

i. Visited Official Companies’ Registry
ii. Interview with Company / Correspondence
iii. Desk Research
iv. Search through Internet Subscription Databases (Business Information)
v. Specialized Media Search Global & Local
vi. Search through internet Social Networks
vii. Infocredit Negative Record Database
viii. Relationship/Directorship Search through Infocredit Database
ix. Search in VAT Registry

The company in question was established in order to get involved with import , export and trade of unisex clothing and fabrics.

We contacted the company in question and talked with Mr. Charoutoun Kouyioumdjian, who confirmed general details but he refused to provide us any financial information.

A check against our records revealed that no negative payment incidents against Subject Company, such as unpaid invoices and utility bills, bankruptcies exist etc.

Wholesale, Industrial, Retail & Services Sectors

The industrial sector, the wholesale and retail trade sector and the services sector are all open to non-resident investors. For the industrial and the wholesale and retail trade sectors, the Central Bank handles applications where foreign participation is below 50%. Where foreign participation exceeds 50%, or the investment is more than CyP750.000, applications are handled jointly by the Central Bank and the Ministry of Commerce, Industry and Tourism.
For services, up to 100% foreign participation is allowed and the Central Bank handles the applications.
Tremetoushiotis Developers Ltd
Ref: http://www.top-properties.com/legal-information.html

Contact information:

Telephone number:

357 22 666438

Mr. Charoutoun Kouyoumdjian (company director)

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.85
UK Pound	1	Rs.73.29
Euro	1	Rs.64.89

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.