MIRA INFORM REPORT

Report Date :

03.05.2011

IDENTIFICATION DETAILS

Name :	THINGS TO DO

Registered Office :	Road 2621, Building 609, Block 426 , Manama

Country :	Bahrain

Date of Incorporation :	05.03.1975

Com. Reg. No.:	1841-1

Legal Form :	Single Person Company

Line of Business :	Importers, Wholesalers and Retailers of all kinds of art craft, embroidery items, needle work items and equestrian equipment.

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	BD 7,000
Status :	Small Company
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)

Bahrain

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

Company NAME

Things To Do

company ADDRESS

Building : Building No. 611, Shop No. 609

Street : North Flyover, Budaiya Highway, Road No. 2621

Area : Budaiya, Block 426

P.O.Box No. : 26117

Town : Manama

Country : Bahrain

Telephone : (973) 1759 0409 / 1771 2835

Fax : (973) 1759 0409

E-Mail : info@thingstodobahrain.net / thingsstd@batelco.com.bh

Website : www.thingstodobahrain.net

Also Known As : Things Todo / Things-To-Do / Things-To-Do (S.P.)

SENIOR COMPANY PERSONNEL

Name Position

1. June Marri Al Saffar (Mrs) Managing Director

2. Tissy Paul (Mrs) Chief Accountant

Total Employees : 10

PAYMENTS

No complaints have been heard regarding payments from local suppliers

or banks.

Subject is a well-established business operating since 1975.

We consider it is acceptable to deal with subject for SMALL amounts.

Opinion on maximum credit : BD 7,000

Trade risk assessment : Normal

Opinion on the credit figure of US DLRS 1,000,000 :

We consider the above figure to be beyond the Company's financial

capabilities and recommend dealing on fully secured terms.

TRADE REFERENCES

NAME : POTTERY CRAFTS LTD

Address : Meir, Stoke On - Trent

City : Stoke-On-Trent

Country : United Kingdom

PRINCIPAL BANKERS

NAME : AL AHLI UNITED BANK BSC (merger of AL AHLI COMMERCIAL

BANK/GRINDLAYS BAHRAIN)

Branch : Main branch

Street : 120 Government Avenue

PO Box : 2424

Town : Manama

Telephone: (973) 1722 0555

Fax : (973) 1722 0552

FINANCIAL INFORMATION

Private companies in Bahrain are not required to publish or disclose balance sheets. However, the subject interviewed offered the following information :

Sales Turnover : BD 200,000 - 2004 – approx.

: BD 250,000 - 2005 – approx.

: BD 270,000 - 2006 – approx.

: BD 300,000 - 2007 – approx.

: BD 320,000 – 2008 – exact

: BD 340,000 – 2009 – exact

: BD 350,000 – 2010 – exact

: BD 350,000 – 2011 – projected

Net Profit : BD 30,000 – 2009 – exact

: BD 18,000 – 2010 – exact *

: BD 30,000 – 2011 – projected

* Decrease in net profit in 2010 was due to the expenses spent on the renovation of the showroom.

Financial year ends 31 December.

LEGAL STATUS AND HISTORY

Date Started : 5 March 1975

History : The subject company was established in Bahrain on 5 March

1975 under commercial registration number 1841-1.

Since its inception subject registered the following branch / division :

- Things-To-Do

(Sub C.R. No. 1841-2): Registered on 30/10/2006.

C.R. No. : 1841-1 (expiry date : 05/03/2012)

BCCI Membership No. : 5357

Authorised Capital : BD 50,000

Paid up Capital : BD 50,000

Single Person Company owned by June Marri Al Saffar (Mrs) (Bahraini

national).

ACTIVITIES

The Company is involved in the following activities :

Trading as importers, wholesalers and retailers of all kinds of art craft, embroidery items, needle work items and equestrian equipment.

Brands :

- Gilgamesh Designs

- Daler-Rowney Ltd.

- Canson

- Potterycrafts, UK

- Pebeo

- Zweigart Needlework Fabrics

- Frank Baines Saddlery, UK

- Wintec, UK

- Harrison Mayer Ltd, UK

NACE Code: 4666

Imports mainly from UK Germany, Australia, China and India.

Exports occasionally to Qatar.

FACILITIES

The Company has the following facilities :

Rented premises comprising administrative offices and a 2 floor retail outlet with integrated storage facilities located at the heading address.

Until 2010, subject used to have another retail outlet located in Budaiya Area.

REGISTERED OFFICE

Things Todo (as registered at the Companies' Registry)

Road 2621

Building 609

Block 426

Manama

SPECIAL NOTE

The address given by you: Near Flyoverbudaiya Highway Manama is misspelt. Please note that the correct spelling is as per heading.

The telephone and fax numbers given by you: 590409 and 276930 respectively are incorrect. Please note that subject's correct telephone and fax numbers are as per heading.

Interviewed: Tissy Paul (Mrs) (Chief Accountant).

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.33
UK Pound	1	Rs.73.89
Euro	1	Rs.65.57

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.