MIRA INFORM REPORT

Report Date :

09.06.2011

IDENTIFICATION DETAILS

Name :	KSK & SONS LIMITED
Registered Office :	15, Illision Pedion Street, 6043 Larnaca
Country :	Cyprus
Date of Incorporation :	06.05.2003
Com. Reg. No.:	C138036 Nicosia
Legal Form :	Private Limited Liability Company
Line of Business :	Importers & Wholesalers of Tires and Tubes

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 :	Unknown
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:

Ksk And Sons

Correct Registered Name:

KSK & SONS LIMITED

Address:

15, Illision Pedion Street 6043 Larnaca CYPRUS

Telephone:

+357-24361940

Email:

Non Retrievable

Web:	Non Retrievable

Business address:

15, Illision Pedion Street 6043 Larnaca CYPRUS

Payment

PAYMENT HABITS:

No Complaints

Comment:

A check against all available information sources revealed that no late payment incidents against Subject Company exist.

Commercial Morality:

Satisfactory

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 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:

C138036 Nicosia

Registration date:

06.05.2003

Present Style Adopted on:

06.05.2003

National ID: C138036

Company Status

Registration status: 06.05.2003 - registered company
Activity status: 2003 - Company is active

Principals

Shareholders
Full Name	Personal ID	Function	Nationality	Equity	Address
Mr. Simos Kyriakides	559352	Shareholder	CYPRUS	33.33% 500 Ordinary	1, Ouiliam Ouiar 6016 Larnaca CYPRUS
Mr. Kyriakos Kyriakides	2711	Shareholder	CYPRUS	66.67% 1,000 Ordinary	15, Ilidion Pedion Street 6043 Larnaca CYPRUS

Management
Full Name	Personal ID	Age	Function	Nationality	Qualification	Experience	Address
Mr. Simos Kyriakides	559352	53	Director	CYPRUS	Non retrievable	Also a director and shareholder of CHEIROURGIKI KLINIKI SIMOU KYRIAKIDI LIMITED, director of ORFANIDIS DIMOSIA ETAIRIA LIMITED	1, Ouiliam Ouiar 6016 Larnaca CYPRUS
Mr. Kyriakos Kyriakides	2711	78	Director / Secretary	CYPRUS	Non Retrievable	Non Retrievable	15, Ilidion Pedion Street 6043 Larnaca CYPRUS

Activities

Activities:

Importers & Wholesalers

Operations:

SIC   5014 Tires and Tubes (except tires sold via retail method) Import and trade of tyres Business Activities Industry Classifications - NAICS » Tire and Tube Merchant Wholesalers (NAICS #42313)

Imports

INDIA
Payment terms:
CAD (Cash Against Documents)

Exports

Not Disclosed

Agencies

Name	Country	Product
NarmantaValley Rubbers	INDIA	Tires

Trade Suppliers

Name	Country	Product
Not Disclosed

Workforce

Number Of Employees:

1

Description Of Premises

Address:	15, Illision Pedion Street 6043 Larnaca CYPRUS
Type of premises:	Registered Address

Headquarters:

Please note that we have not been able to trace offices of the company in Cyprus. The address given above is that of the company's accountant, Mr. Giannis Kyriakides. (Tel: 357 24662956)

Branches:

Not Disclosed

Related Companies

Not Disclosed

Bankers

HELLENIC BANK PUBLIC COMPANY LIMITED
2, Zenonos Kitieus Street P.C 6023 Larnaca Tel.: 24503000 Fax.: 24654366 Email: zenonoskitieus@hellenicbank SWIFT: HEBACY2NLAR

Press

08.06.2011, No press / media available at present.

Auditors / Accountants

Not Disclosed

Share Capital

Registered capital:	EUR 8,550.00 since 01.01.2008
Number of Ordinary - A:	2,500
Value per share of Ordinary - A:	EUR 1.71
Number of Ordinary - B:	2,500
Value per share of Ordinary - B:	EUR 1.71
Issued capital:	EUR 2,565.00 since 01.01.2008
Number of Ordinary - A:	1500
Value per share of Ordinary - A:	EUR 1.71
Paid-up capital:	EUR 2,565.00 since 01.01.2008

Charges

None in current years

Finance

(Approximately) (Approximately)

Amounts shown in Cyprus Pounds (CYP)		2006	2005
	PROFIT & LOSS
	Sales Turnover	40,000.00	64,000.00
	BALANCE SHEET
	Average Stock		10,000.00

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


The present private limited liability company was established on 06/05/2003.

The company in question is involved in the import and wholesale of tires and tubes.

We contacted the company in question and talked to Mr. Kyriakos Kyriakides who declined to release any information regarding the Subject; he only confirmed that they import from India.

The information provided in this report was obtained from the Official Companies Registrar and from a previous record (2006).

Please note that the contact details provided on your inquiry (Address & contact numbers) belong to the Subjects' accountant, Mr. Giannis Kyriakides.

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

Contact Person:

Mr. Kyriakos Kyriakides

Director/Secretary

357 24361940

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.61
UK Pound	1	Rs.73.28
Euro	1	Rs.65.47

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.