MIRA INFORM REPORT

Report Date :

16.03.2011

IDENTIFICATION DETAILS

Correct Name :	AMBIENTA FOR CERAMIC

Registered Office :	Al Bahnassi Building, Baghdad Street, Al Tahrir Square, P O Box 30062, Damascus

Country :	Syria

Date of Incorporation :	30.11.1999

Com. Reg. No.:	38088, Damascus

Legal Form :	Sole Proprietorship

Line of Business :	Distributors of sanitary ware products, ceramics, tiles and bathroom sets

RATING & COMMENTS

MIRA’s Rating :

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

Maximum Credit Limit :	EUR 125,000

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 – December 31, 2010

Country Name

Previous Rating

(30.09.2010)

Current Rating

(31.12.2010)

Syria

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

SUMMARY

Company Name : AMBIENTA FOR CERAMIC

Country of Origin : Syria

Legal Form : Sole Proprietorship

Registration Date : 30^th November 1999

Commercial Registration Number : 38088, Damascus

Chamber Membership Number : 13247

Invested Capital : SY Pnds 3,000,000

Total Workforce : 6

Activities : Distributors of sanitary ware products, ceramics, tiles and bathroom

sets.

Financial Condition : Undetermined

Payments : Nothing detrimental uncovered

Recommended Credit Limit : EUR 125,000

Person Interviewed : Ahmed Thamer Mohamed Zuhair Abdul Haq, Proprietor

COMPANY NAME

AMBIENTA FOR CERAMIC

company address

Registered & Physical Address

Building : Al Bahnassi Building

Street : Baghdad Street

Area : Al Tahrir Square

PO Box : 30062

Town : Damascus

Country : Syria

Telephone : (963-11) 4462611 / 4468533 / 2777563

Facsimile : (963-11) 4468530 / 4456767 / 4462612

Email : ambienta@scs-net.org

Premises

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

KEY PRINCIPALS

Name Position

· Ahmed Thamer Mohamed Zuhair Abdul Haq Proprietor & General Manager

· Mohamed Al Akaad Commercial Manager

LEGAL FORM & OWNERS

Date of Establishment : 30^th November 1999

Legal Form : Sole Proprietorship

Commercial Reg. No. : 38088, Damascus

Chamber Member No. : 13247

Invested Capital : SY Pnds 3,000,000

Mr Ahmed Thamer Mohamed Zuhair Abdul Haq is the sole proprietor of the business.

OPERATIONS

Activities: Engaged in the import and distribution of sanitary ware products, ceramics, tiles and bathroom sets.

Import Countries: Spain, Italy and Tunisia.

Subject has a workforce of 6 employees.

FINANCIAL DATA

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

BANKERS

· Commercial Bank of Syria

29 May Street

PO Box: 3179

Damascus

Tel: (963-11) 4457332

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 business is considered to be a fair trade risk.

The above credit figure is higher than transactions previously seen and a measure of caution would be prudent given the magnitude of the transaction.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.45.15
UK Pound	1	Rs.72.59
Euro	1	Rs.62.95

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.