MIRA INFORM REPORT

Report Date :

12.05.2011

IDENTIFICATION DETAILS

Name :	DELTA EXPORTS PTE LTD

Registered Office :	221 Henderson Road #08-15 Henderson Bldg Singapore 159557

Country :	Singapore

Financials (as on) :	31.12.2007

Date of Incorporation :	17.02.1993

Com. Reg. No.:	199300906K

Legal Form :	Private Limited Liability Company

Line of Business :	Sales of metals, minerals, rubber, chemicals & agri-products.

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 :	USD 40,000
Status :	Moderate
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)

Singapore

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

Contact Points

Company Name:	Delta Exports Pte Ltd
Supplied Name:	Delta Exports Pte Ltd.
Trading Address:	221 Henderson Road, #08-15 Henderson Building, Singapore - 159557
Supplied Address:	221, Henderson Road, No. 08-15, Henderson, Building Singapore 159557, Singapore
Telephone Number:	+65-6276-6646
Fax Number:	+65-6276-7045
E-mail:	depl@delta.com.sg

Credit Summary

Credit Rating:	Maximum credit USD 40,000
Credit Opinion:	Business connections are permissible.

Company Identification Details

Registered Name:	Delta Exports Pte Ltd
Registered Address:	221 Henderson Road #08-15 Henderson Bldg Singapore 159557
Date of Registration::	1993-2-17
Registered Number:	199300906K
Country of Incorporation:	Singapore
Registered Capital:	SGD 4,000,000 (USD 3,255,600) (As of 2011.05, 1 SGD = 0.8139 USD)
Paid-up Capital:	SGD 4,000,000 (USD 3,255,600) = 4,000,000 Shares@1 SGD
Legal Form:	Private Limited Liability Company
Principal Activities:	Sales of metals, minerals, rubber, chemicals & agri-products.
Staff:	More than 10 Employees
Status:	Live Company
Listed at Stock Exchange:	No
Date of Last Annual Return:	2010-10-6

History

Subject was incorporated on 1993-2-17 with registered number 199300906K as Private Limited Liability Company in Singapore.

Shareholders

Unit: SGD

Name	Subscription Amount	Proportion of Investment (%)
Karthikesan S/O Vairavan@ Vasudevan S/O Vairavan	2,000,000	50%
Dhruba Charan Panda	2,000,000	50%
Total	4,000,000	100%

Major Shareholder Information:

1
Name:	Karthikesan S/O Vairavan@ Vasudevan S/O Vairavan
Value:	SGD 2,000,000
ID Number:	S2176649F
Address:	1 Clover Rise Clover Park Singapore 579153
Nationality:	Singapore Citizen
2
Name:	Dhruba Charan Panda
Value:	SGD 2,000,000
ID Number:	S2737129I
Address:	Kytv, Kostyolna Street 8, Flat 27 Ukraine
Nationality:	Singapore P.R.

Subsidiaries & Branches

Subject did not register any subsidiaries or branches, from other source we can not obtain the relevant information, either.

Manage Information

Core Management

Detailed Information of Management:

1
Name:	Karthikesan S/O Vairavan@ Vasudevan S/O Vairavan
Position:	Director
ID Number:	S2176649F
Address:	1 Clover Rise Clover Park Singapore 579153
Nationality:	Singapore Citizen
Date of Appointment:	1993-2-17
2
Name:	Karthikesan S/O Vairavan@ Vasudevan S/O Vairavan
Position:	Secretary
ID Number:	S2176649F
Address:	1 Clover Rise Clover Park Singapore 579153
Nationality:	Singapore Citizen
Date of Appointment:	2001-8-16
3
Name:	Dhruba Charan Panda
Position:	Director
ID Number:	S2737129I
Address:	Kytv, Kostyolna Street 8, Flat 27 Ukraine
Nationality:	Singapore P.R.
Date of Appointment:	1993-4-19
4
Name:	Mantha Srinivas Sastry
Position:	Director
ID Number:	S7560094A
Address:	322C Anchorvale Drive #08-150 Singapore 543322
Nationality:	Indian
Date of Appointment:	2002-8-29

Personnel Structure

Total Employees

More than 10 Employees

Operation Information

Offices & Factories

	Office
Address:	221 Henderson Road, #08-15 Henderson Building, Singapore - 159557

Purchase

l The subject purchases metals, minerals, rubber, chemicals & agri-products.

l The subject purchases both from the domestic markets and foreign markets.

Sales Information

l The subject is specializing in metals, minerals, rubber, chemicals & agri-products.

l The subject sells products around world.

Settlements

Purchase

Domestic Markets

Products	Payment Terms	Proportion
Rubber	COD, etc	100%

Overseas Markets

Products	Payment Terms	Proportion
Rubber products	CBD, etc	100%

Sales

Domestic Markets

Product	Sales Terms	Proportion
Rubber products	CBD, etc	100%

Overseas Markets

Product	Sales Terms	Proportion
Rubber products	CBD, etc	100%

Financial Figures

Balance Sheet

Unit: USD

	2007-12-31	2006-12-31	2005-12-31
Total Assets	31,565,950.00	18,499,039.00	13,530,567.00
Total Current Assets	22,470,268.00	13,969,657.00	11,937,010.00
Total Non-Current Assets f.k.a. [Fixed And Others]	9,095,682.00	4,529,382.00	1,593,557.00

Total Liabilities	25,187,826.00	14,308,657.00	10,536,144.00
Total Current Liabilities	24,671,518.00	14,263,246.00	10,520,866.00
Total Non-Current Liabilities	516,308.00	45,411.00	15,278.00
Total Equity f.k.a [Shareholder's Funds]	6,378,124.00	4,190,382.00	2,994,423.00
Paid-Up Capital	N.A.	2,414,012.00	1,241,542.00
Share Capital	2,414,012.00	-	-
Other Reserves, Total f.k.a. [Reserves]	0.00	1,776,370.00	1,752,881.00
Retained Earnings/(Accumulated Loss)	3,964,112.00	0.00	0.00

Profit/Loss Account

Unit: USD

	2007	2006	2005
Revenue f.k.a [Sales Turnover And Other Operating Revenues]	-	105,397,569.00	74,710,290.00
Profit/(Loss) before Tax from Continuing Operations f.k.a [Profit/(Loss) before tax]	-	1,502,615.00	809,498.00
Profit/(Loss) after Tax from Continuing Operations f.k.a [Profit/(Loss) After Tax]	-	1,195,959.00	635,952.00
Net Income/(Loss) From Extraordinary And Non-Operating Items	N.A.	0.00	0.00
Profit/(Loss) After Tax and Extraordinary Items	N.A.	1,195,959.00	635,952.00

Financial Ratio

	2007	2006	2005
Earning Capacity
Rate of Net Profit on Sales (%)	0.00	1.13	0.85
Return of Investment (%)	0.00	6.46	4.70
Return of Shareholder's Funds (%)	0.00	28.54	21.24
Total Assets Turnover (%)	0.00	5.70	5.52
Financial Stability
Current/Working Capital Ratio (%)	0.91	0.98	1.13
Proprietary Ratio (%)	20.21	22.65	22.13
Total Debt to Equity Ratio (%)	79.79	77.35	77.87

Bankers

Open Account Bank

Name:

DBS Bank

Auditors

Name:

Ernst & Young Llp

Public

Charges

Charge 1
Charge Number:	200104008
Date of Registration:	2001-8-22
Name:	Kbc Bank N.V.
Amount Secured:	All Monies
Charge 2
Charge Number:	C200503531
Date of Registration:	2005-6-23
Name:	DBS Bank Ltd.
Amount Secured:	All Monies
Charge 3
Charge Number:	C200503917
Date of Registration:	2005-7-8
Name:	DBS Bank Ltd.
Amount Secured:	All Monies
Charge 4
Charge Number:	C200602443
Date of Registration:	2006-4-17
Name:	Citibank N.A.
Amount Secured:	All Monies
Charge 5
Charge Number:	C200603787
Date of Registration:	2006-6-13
Name:	Bnp Paribas (Suisse) Sa
Amount Secured:	All Monies
Charge 6
Charge Number:	C200604710
Date of Registration:	2006-7-19
Name:	Kbc Bank N.V.
Amount Secured:	All Monies
Charge 7
Charge Number:	C200811327
Date of Registration:	2008-12-23
Name:	Citibank N.A.
Amount Secured:	All Monies
Charge 8
Charge Number:	C200901237
Date of Registration:	23-02-2009-2-23
Name:	Standard Chartered Bank
Amount Secured:	All Monies
Charge 9
Charge Number:	C201003288
Date of Registration:	2010-4-20
Name:	Standard Chartered Bank
Amount Secured:	All Monies
Charge 10
Charge Number:	C201011672
Date of Registration:	2010-12-2
Name:	DBS Bank Ltd.
Amount Secured:	All Monies

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.69
UK Pound	1	Rs.73.12
Euro	1	Rs.64.39

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.