MIRA INFORM REPORT

Report Date :

26.03.2011

IDENTIFICATION DETAILS

Name :	BLUE POINT OFFICE SUPPLIES (BLUE OCEAN GIFTS)

Registered Office :	93 95, W.J.A Nisbeth Road, Pondfill Philipsburg

Country :	St. Maarten

Year of Establishment :	1998

Com. Reg. No.:	Not Available

Legal Form :	Limited Company

Line of Business :	Technology & Office supplies.

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 :	USD 80,000

Status :	Satisfactory

Payment Behaviour :	Regular

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)

St. Maarten

(Netherlands Antilles)

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

GEOPOLITICS - NETHERLANDS ANTILLES

POLITICAL DATA

ECONOMIC DATA

Form of Government: Overseas territory of The Netherlands - Parliamentary system

Economic Risk: Low

Currency: 100.00 ANG = 55.8971 USD

Branch Situation: Stable

IDENTIFICATION

Ordered as:	BLUE POINT OFFICE SUPPLIES
Address in the order:	W.J.A Nisbeth Road #95, Pondfill Ro St Maarten Netherlands Antilles
Legal Name:	Blue Point Office Supplies (Blue Ocean Gifts)
Trade Name:	Blue Ocean Gifts
Legal Address	93 95, W.J.A Nisbeth Road, Pondfill Philipsburg, St. Maarten.
Operative Address	93 95, W.J.A Nisbeth Road, Pondfill Philipsburg, St. Maarten.
Telephone:	599-542-1200	Registration Number :	NOT PROVIDED
Fax:	599-542-1300	Legal Form:	Limited Company
Email:	Info@gotobluepoint.com	Registered in:	St. MAARTEN (NETHERLANDS ANTILLES)
Website:	www.bluepointofficesupplies.com	Date Created:	1998
Manager:	Jhamnani Dilip , Manager	Date Incorporated:	-
Staff:	20	Stock:	N/A
		Value:	N/A
Activity:	Technology & Office supplies.

BANKS

Name of the Bank

Windward Island Bank

BUSINESS

HISTORY
	The company was created in the year 1998.
PRINCIPAL ACTIVITY
	The subject engages as a wholesaler of office supplies and related materials.
Products/Services description:
	Computers Electronics LCD TV's Office furniture Related supplies
Sales are:
	Wholesale
Brands:
	HP Microsoft Office Coby Canon Lite on
Clients:
	Various industries
Suppliers:
	HP Microsoft Office Coby Canon Lite on
Operations area:
	National, International, Local
The company imports from Holland, Belgium, Germany, U.S.A., U.K., PR China, Hong Kong, Japan
The company export to Worldwide
Competitors:
	Esquisse Mont Blanc Office World Office1SUperstore Papeterie Caraibes
PAYMENTS
	made on a 40 days basis - monitored over the last 12 months
LOCATION
Headquarters
	The company is headquartered at 93 95, W.J.A Nisbeth Road, Pondfill Philipsburg, St. Maarten.
Surface area:
	13,000 sq. ft.
Branches:
	There were no branches found for this company.

Shareholders - Manager - Related Companies

Shareholders Parent Company(ies):
	This is a privately held company. Despite our long searches it has not been possible to identify the shareholders.
Management:
	Jhamnani Dilip, Manager

Financials - COMMERCIAL TRENDS AND FORECAST

As a private company the subject does not publish any financial statements.

We tried to call the company several times, but we always got a busy tone. The phone was not working.

Currency	DATE
USD	2009
Turnover	3,500,000
Operating Income	90,000
Net Income	65,000
Liabilities	0
The cash flow is	Normal

Currency	DATE
USD	2008
Turnover	547 000
Operating Income	38 000
Net Income	25 000
Net worth	120 000
Liabilities	40 000
The cash flow is	0

Comments on the financial data: The Subject Company is registered as a Limited company in ST Maarten and is therefore exempt from filing and/or publishing Annual Audited Accounts at the Registrar of Companies, under the ST Maarten Law. In addition, due to the laws of privacy governing disclosure of BANKING INFORMATION, we are unable to demand a copy of the subject's Latest FINANCIAL STATEMENTS.

However, our financial sources could provide us with the following figures:

Legal Fillings

The sources consulted record no detrimental legal or labor court information.

Rating

Local credit bureau gave a Correct credit rate.

The company is in Good Standing. This means that all local and federal taxes were paid on due date.

Final Opinion

The company has been in business for 13 years. It has a staff of 20 employees which makes it a medium sized company.

There were no legal filings found against the company or its legal representatives.

Although there was no financial information found for the year 2010, our estimates gave us a correct profitability for the year 2009; Therefore a credit line may be considered for USD 80,000

SUMMARY

FINANCIAL SUMMARY		DEBT COLLECTIONS AND PAYMENTS
Profitability	CORRECT	Public Records	NO
Indebtedness	CONTROLLED	Payments	REGULAR
Cash	N.A.

APPENDIX

Comments
	We tried to call the company several times, but we always got a busy tone. The phone was not working.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.65
UK Pound	1	Rs.71.91
Euro	1	Rs.63.28

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.