MIRA INFORM REPORT

Report Date :

31.03.2011

IDENTIFICATION DETAILS

Name :	AL FERDOUS PALACE TRADING

Registered Office :	Building No. 155D, Sheikh Abdullah Road No. 203, Behind Janahi Company, Central Manama, P O Box 20286, Manama

Country :	Bahrain

Date of Incorporation :	21.12.2011

Com. Reg. No.:	33792-3

Legal Form :	Proprietorship Concern

Line of Business :	Importers and retailers of footwear, handbags, watches, readymade garments and accessories

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
----	NB	New Business	----

Maximum Credit Limit :	US DLRS 150,000
Status :	New Company
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 – December 31, 2010

Country Name

Previous Rating

(30.09.2010)

Current Rating

(31.12.2010)

Bahrain

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

Company NAME

Al Ferdous Palace Trading

company ADDRESS

Building : Building No. 155D

Street : Sheikh Abdullah Road No. 203

Area : Behind Janahi Company, Central Manama

PO Box : 20286

Town : Manama

Country : Bahrain

Telephone: (973) 1726 0522 / Mobile (973) 3988 3697

Fax : (973) 1726 0522 (ask for fax)

SENIOR COMPANY PERSONNEL

Name Position

1. Badreya Abdulrasool Mohsen Ali Owner

2. Yousif Abdullah Mohammed General Manager

Total Employees : 2

PAYMENTS

No trade experience of payments is available.

Subject is a newly established business incorporated in December 2010.

Opinion on maximum credit : As the subject has recently started

trading and has no financial or payment

track record, we recommend dealing on

fully secured terms.

Trade risk assessment : High (see above comments)

Opinion on the credit figure of US DLRS 150,000 :

See above comments.

PRINCIPAL BANKERS

NAME : AL AHLI UNITED BANK BSC

Branch : Al Seef District 428

P.O. Box : 2424

Town : Manama

Telephone: (973) 1758 5858

Fax : (973) 1758 0562

FINANCIAL INFORMATION

As the Company has only recently been established, relevant financial

information is not available.

LEGAL STATUS AND HISTORY

Date Started : 21 December 2010

C.R. No. : 33792-3 (expiry date : 21 December 2011)

Capital : not applicable

Proprietorship owned by Badreya Abdulrasool Mohsen Ali (Bahraini national).

* It is understood that Yousif Abdullah Mohammed (Indian national) is the unofficial owner of the business.

Badreya Abdulrasool Mohsen Ali also owns the following establishments in Bahrain :

1. Metro Restaurant

C.R. No. 33792-1

2. Almahroosa Grills Corner

C.R. No. : 33792-2

ACTIVITIES

The Subject is involved in the following activities :

Importers and retailers of footwear, handbags, watches, readymade garments and accessories.

Imports from India, China and Thailand.

Subject does not export, all sales are domestic.

FACILITIES

The Subject has the following facilities :

Rented premises comprising administrative offices and a retail outlet with located at the heading address as well as a warehousing facilities in Salmabad area.

SPECIAL NOTE

Interviewed: Yousif Abdullah Mohammed (General Manager).

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.77
UK Pound	1	Rs.71.69
Euro	1	Rs.63.02

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.