MIRA INFORM REPORT

Report Date :

01.03.2011

IDENTIFICATION DETAILS

Name :	TRUST EXPORT
Registered Office :	Medstar Business Centre, Cheyah, Beirut
Country :	Lebanon
Date of Incorporation :	14.05.2005
Com. Reg. No.:	1066599, Baabda
Legal Form :	Sole Proprietorship
Line of Business :	Distributors of primary raw materials for paints and chemicals

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 :	EUR 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 – June 30, 2010

Country Name	Previous Rating (01.04.2010)	Current Rating (30.06.2010)
Lebanon	c1	c1

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

SUMMARY

Company Name : TRUST EXPORT

Country of Origin : Lebanon

Legal Form : Sole Proprietorship

Registration Date : 14^th May 2005

Commercial Registration Number : 1066599, Baabda

Invested Capital : LP 4,000,000

Total Workforce : 12

Activities : Distributors of primary raw materials for paints and chemicals.

Financial Condition : Undetermined

Payments : Nothing detrimental uncovered

Recommended Credit Limit : EUR 150,000

Person Interviewed : Aboud Adeeb Masry, Commercial Manager

COMPANY NAME

TRUST EXPORT

company ADDRESS

Registered & Physical Address

Building : Medstar Business Centre

Area : Cheyah

Town : Beirut

Country : Lebanon

Telephone : (961-1) 824834 / 853593

Facsimile : (961-1) 824834

Mobile : (961-70) 826896

Email : info@group-trust.com / export@group-trust.com

Premises

Subject operates from a small suite of offices and a warehouse that are rented and located in the Central Business Area of Beirut.

KEY PRINCIPALS

Name Position

· Khalid Waleed Jarab Proprietor & General Manager

· Aboud Adeeb Masry Commercial Manager

LEGAL FORM & OWNERS

Date of Establishment : 14^th May 2005

Legal Form : Sole Proprietorship

Commercial Reg. No. : 1066599, Baabda

Invested Capital : LP 4,000,000

Mr Khalid Waleed Jarab is the sole proprietor of the business.

AFFILIATED COMPANIES

· Trust Paints

Beirut

· Trust International Industries SL Ltd

Sierra Leone

· Trust Sarl

Guinea

· Trust Enterprise

Liberia

· SICC

Cameroon

· Societe Millenium Sarl

Cameroon

· Future Egypt

Egypt

· El Walid Est

Egypt

· ESM Offshore

Beirut

· Lina’s

Ukraine

OPERATIONS

Activities: Engaged in the import, distribution and shipping of primary raw materials for paints and chemicals.

Import Countries: Europe, Africa and the Far East.

Subject has a workforce of 12 employees.

FINANCIAL DATA

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

BANKERS

· Banque Libano Francaise Sal

PO Box: 11808

Beirut

Tel: (961-1) 200493 / 200490

Fax: (961-1) 200494 / 348845

PAYMENT HISTORY

No complaints regarding subject’s payments have been reported.

GENERAL COMMENTS

Local sources report that payment obligations are met in a generally timely manner and the operating history is clear. As such the company is deemed a fair trade risk and the above credit figure is considered to be within subject’s financial means.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.45.18
UK Pound	1	Rs.72.79
Euro	1	Rs.62.15

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

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.