MIRA INFORM REPORT

Report Date :

23.03.2011

IDENTIFICATION DETAILS

Name :	DALIA XINISTERY LIMITED
Registered Office :	Dali, 7, Pavlou Mela Street 2540 Nicosia
Country :	Cyprus
Date of Incorporation :	11.02.2009
Com. Reg. No.:	C245773 Nicosia
Legal Form :	Private Limited Liability Company
Line of Business :	Nondurable Goods(except specialty advertising)

RATING & COMMENTS

MIRA’s Rating :

Ca

RATING		STATUS	PROPOSED CREDIT LINE
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

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 – December 31, 2010

Country Name	Previous Rating (30.09.2010)	Current Rating (31.12.2010)
Cyprus	B1	B1

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

Name & Address

NAME INQUIRED UNDER:

Dalia Xinistrey Limited

Correct Registered Name:

DALIA XINISTERY LIMITED

Address:

Dali, 7, Pavlou Mela Street 2540 Nicosia CYPRUS

Email:

Non Retrievable

Web:	Non Retrievable

Business address:

Dali, 7, Pavlou Mela Street 2540 Nicosia 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:

Unable to comment

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, payment records and Financial Strength or comment on the amount of your enquiry.

Credit Rating:

Nil Rating

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 companys 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:

C245773 Nicosia

Registration date:

11.02.2009

Company Status

Registration status: 11.02.2009 - registered company
Activity status: 11.02.2009 - Company is active

Principals

Shareholders
Full Name	Personal ID	Function	Nationality	Equity	Address
Mr. Anisul Mohammad Hoque	5193179	Shareholder	BANGLADESH	50.00% 500 Ordinary	Dali, 7, Pavlou Mela Street 2540 Nicosia CYPRUS
Mr. Daleia Xynisteri	812838	Shareholder	CYPRUS	50.00% 500 Ordinary	Dali, 7, Pavlou Mela Street 2540 Nicosia CYPRUS

Management
Full Name	Personal ID	Age	Function	Nationality	Qualification	Experience	Address
Mr. Anisul Mohammad Hoque	5193179		Director	BANGLADESH	Non Retrievable	Non Retrievable	Dali, 7, Pavlou Mela Street 2540 Nicosia CYPRUS
Mr. Daleia Xynisteri	812838		Director / Secretary	CYPRUS	Non Retrievable	Non Retrievable	Dali, 7, Pavlou Mela Street 2540 Nicosia CYPRUS

Activities

Activities:

General Traders

Operations:

SIC   main activity   5199 Nondurable Goods, NEC (except specialty advertising)   6799 Investors, NEC (commodity contract trading companies) According to the article of associations, the company in question was established in order to get involved with general trade activities. However, this was not confirmed. Of course the article makes provision of other activities as well. Business Activities General Trading Industry Classifications - NAICS » Wholesale Trade Agents and Brokers » Wholesale Trade » Other Miscellaneous Durable Goods Merchant Wholesalers » Apparel, Piece Goods, and Notions Merchant Wholesalers » Other Miscellaneous Nondurable Goods Merchant Wholesalers

Motor Vehicles

Non Retrievable

Imports

Non Retrievable

Exports

Non Retrievable

Agencies

Non Retrievable

Trade Suppliers

Non Retrievable

Workforce

Non Retrievable

Description Of Premises

Address:	Dali, 7, Pavlou Mela Street 2540 Nicosia CYPRUS
Type of premises:	Premises

Headquarters:

Please note that we were unable to trace any offices for the subject in Cyprus. This is the subject's registered address.

Bankers

HELLENIC BANK PUBLIC COMPANY LIMITED
2025 Nicosia, 200 Corner Limassol Avenue & Athalassas Avenue Strovolos


Account number is not disclosed.

Press

23.03.2011, No press / media available at present.

Auditors / Accountants

Non Retrievable

Share Capital

Registered capital:	EUR 1,000.00 since 11.02.2009
Number of Ordinary:	1,000
Value per share of Ordinary:	EUR 1.00
Issued capital:	EUR 1,000.00 since 11.02.2009
Number of Ordinary:	1000
Value per share of Ordinary:	EUR 1.00
Paid-up capital:	EUR 1,000.00 since 11.02.2009

Charges

15.10.2009

Floating Charge on all Company's Assets

EUR 40,000.00

in f/o:Hellenic Bank Public Co. Limited

Finance

Please note that the latest financial details have not been released to us. The latest financial details are not available at the file of the company at the Official Companies Registry House; as the law provides for all companies. Further financial details are not available from other public sources.

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

We tried contacting the company but our efforts were unsuccessful. We were not able to trace any offices for the company in question in Cyprus.

We tried to find a contact number for the company but the Official Telephone Authority had no records for this company. In addition we tried locating contact details for the company’s directors and the subject's registered address but there were no telephone information recorder at the official Cyprus Telephone Authority either.

Please note that through desk research we found out a second address that could be related to the company in question, 24A, Michail Olympiou Street, Dalia, 2540, Nicosia, Cyprus. However, there was no contact details for the this address at the official Cyprus Telephone Authority either.

The information provided in this report was obtained from the Official Companies Registry House.

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

None at current stage

CYPRUS-FACTS AND FIGURES
Population: 1,084,748
Area: 9,251 SQ KM (about 33.4 percent of land is under Turkish control, and a further 1.8 percent forms part of the buffer zone along the cease-fire line.)
Capital: Nicosia
Currency: Euro
Currency Code: EUR

GDP (Purchasing Power Parity): $22.85 Billion	GDP - Composition by Sector:
GDP (Official Exchange Rate):$23.22 Billion	Agriculture: 2.1%
GDP - Real Growth Rate: -0.8%	Industry: 19.%
GDP - Per Capita (PPP): $21,200	Services: 78.9%

Industries:
Tourism, Food And Beverage Processing, Cement And Gypsum Production, Ship Repair And Refurbishment, Textiles, Light Chemicals, Metal Products, Wood, Paper, Stone, And Clay Products.

The area of the republic of Cyprus under government control has a market economy dominated by the service sector, which accounts for 78% of GDP.
Tourism, financial services and real estate are the most important sectors.
Changing growth rates over the past decade reflect the economy's reliance on tourism.
Due to the global crisis, Cyprus economy entered into recession in the middle of 2009. The budget deficit reached the level of 3.5% of GDP, violating EU's budget deficit criteria of no more than 3% of GDP.

Therefore, in order to prevent country's weakening finances, the government intents to implement measures to cut the cost of the state payroll, tax evasion, and amend social benefits.

Last Updated: March 2010

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.97
UK Pound	1	Rs.73.35
Euro	1	Rs.63.98

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.