MIRA INFORM REPORT

Report Date :

10.03.2011

IDENTIFICATION DETAILS

Name :	DOBRAL COMMERCE GENERAL TRADING LLC

Registered Office :	Etisaalat Al Masraf Building, 9^th Floor, Suite No. 908, Baniyas Road, Riggat Al Buteen, Deira, P O Box 33271, Dubai

Country :	United Arab Emirates

Financials (as on) :	31.12.2010

Date of Incorporation :	12.08.2000

Com. Reg. No.:	55090, Dubai

Legal Form :	Limited Liability Company

Line of Business :	Distributors of oil and gas pipeline equipment and general construction equipment

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 :	US$ 200,000
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)

United Arab Emirates

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

SUMMARY

Company Name : DOBRAL COMMERCE GENERAL TRADING LLC

Country of Origin : Dubai, United Arab Emirates

Legal Form : Limited Liability Company - LLC

Registration Date : 12^th August 2000

Commercial Registration Number : 55090, Dubai

Trade Licence Number : 520493

Chamber Membership Number : 59882

Issued Capital : UAE Dh 3,000,000

Paid up Capital : UAE Dh 3,000,000

Total Workforce : 9

Activities : Distributors of oil and gas pipeline equipment and general construction

equipment.

Financial Condition : Fair

Payments : Nothing detrimental uncovered

Operating Trend : Steady

Recommended Credit Limit : US$ 200,000

Person Interviewed : Sheikh Hussain Eddine, Public Relations Officer

COMPANY NAME

DOBRAL COMMERCE GENERAL TRADING LLC

company ADDRESS

Registered & Physical Address

Building : Etisaalat Al Masraf Building, 9^th Floor, Suite No. 908

Street : Baniyas Road

Area : Riggat Al Buteen, Deira

PO Box : 33271

Town : Dubai

Country : United Arab Emirates

Telephone : (971-4) 2249465

Facsimile : (971-4) 2214904

Email : mahmoud@dobral.com / dobralcm@emirates.net.ae

Premises

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

KEY PRINCIPALS

Name Nationality Position

· Seyed Mahmoud Nasrollah Mir Mohamadi Iranian Managing Director

· Ghulam Abbas Hussain Mussala Nezad Iranian Director

· Saeed Samad Kalanaki Iranian Director

· Mohamed Abdul Rahman Abdulla Al Marzouqi Emirati Director

· Sheikh Hussain Eddine - Public Relations Officer

LEGAL FORM & OWNERS

Date of Establishment : 12^th August 2000

Legal Form : Limited Liability Company - LLC

Commercial Reg. No. : 55090, Dubai

Trade Licence No. : 520493 (Expires 11/08/2011)

Chamber Member No. : 59882

Issued Capital : UAE Dh 3,000,000

Paid up Capital : UAE Dh 3,000,000

Name of Shareholder (s) Percentage

· Mohamed Abdul Rahman Abdulla Al Marzouqi 51%

· Ghulam Abbas Hussain Mussala Nezad 19%

· Saeed Samad Kalanaki 15%

· Seyed Mahmoud Nasrollah Mir Mohamadi 15%

AFFILIATED COMPANIES

· Dobral Construction Co

Tehran

Iran

· Techno Trade Co

Tehran

Iran

· Dobral Sanat Co

Tehran

Iran

· Dobral Oil Tech Co

Dubai

· Greenishland General Trading Co LLC

Dubai

OPERATIONS

Activities: Engaged in the import and distribution of oil and gas pipeline equipment and general construction

equipment.

Subject’s products include pipes, tubes, flanges, valves, strainers, steam traps, gaskets, stud bolts,

welding electrodes, control valves, lighting, structural steel, hot shrinkable sleeves and NDT films and

equipment.

The company is an authorised dealer of Arcelormittal branded products.

Import Countries: Europe, Canada and the Far East.

International Suppliers:

· Promtractor JSC Russia

· TMK Russia

· Rocky Mountain Pipe Equipment Inc Canada

· Canusa Canada

· CRC Evans Canada

· Carmix Italy

· Dalmine Italy

· Foma Bohemia Company Czech Republic

· Petrotube Romania

· Artrom Romania

· Butting Germany

· Bruck Netherlands

· Ulma Spain

· PK Valve South Korea

· Arcelormittal Luxembourg

Operating Trend: Steady

Subject has a workforce of 9 employees.

FINANCIAL DATA

Financial highlights provided by local sources are given below:

Currency: United Arab Emirates Dirham (UAE Dh)

Year Ending 31/12/09: Year Ending 31/12/10:

Total Sales UAE Dh 14,225,000 UAE Dh 15,000,000

Local sources consider subject’s financial condition to be Fair.

The above financial figures are based on estimations by our local sources.

BANKERS

· Emirates Bank International Ltd

Baniyas Road

Deira

PO Box: 2923

Dubai

Tel: (971-4) 3160316

Fax: (971-4) 2264302

PAYMENT HISTORY

No complaints regarding subject’s payments have been reported.

GENERAL COMMENTS

Please note that the subject is an authorised dealer of Arcelormittal branded products.

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 company is considered to be a fair trade risk.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.45.02
UK Pound	1	Rs.72.70
Euro	1	Rs.62.54

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.