MIRA INFORM REPORT

Report Date :

18.05.2011

IDENTIFICATION DETAILS

Name :	CRUSTACEAN INTERNATIONAL LIMITED
Registered Office :	15A/2 The Village Walk Onchan Isle of Man
Country :	Ireland
Date of Incorporation :	27.01.2010
Com. Reg. No.:	124395C
Legal Form :	Private Company Limited by Shares
Line of Business :	Seafood distributor

RATING & COMMENTS

MIRA’s Rating :

B

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

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)
Ireland	A2	A2

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

REGISTERED NAME & COMPANY SUMMARY

IDENTIFICATION
Verified
Subject Name:	CRUSTACEAN INTERNATIONAL LIMITED
Address:	15A/2 The Village Walk
Town:	Onchan
Country:	Isle of Man
Telephone:	+44 (1624) 671111
Fax:	+44 (1624) 662863
Website:	www.crustacean.im
EXECUTIVE SUMMARY
Date registered:	27-01-2010
Legal form:	Private Company Limited by Shares
Authorised Capital:	GBP 2,000
Main activities:	Seafood distributor
Employees:	5
REGISTRY DATA
Key Facts
Date registered:	27-01-2010
Legal form:	Private Company Limited by Shares
Registration no:	124395C
Registry auth.	Isle of Man Companies Registry
Registry status:	Live/Active

CREDIT recommendation

Current Credit Limit: No credit limit recommended.

DIRECTORS/MANAGEMENT

MANAGEMENT & STAFF
Key Managers
Name:	Mr Gabriel McGlynn
Job Title:	Managing Director
Name:	Pasha Abdul Saleem
Job Title:	Director
Staff
No of employees	5
BOARD OF DIRECTORS / OTHER APPOINTMENTS
Appointments
Name:	Mr Gabriel McGlynn
Board function:	Managing Director
Address:	261 St Pauls Square Ramsey Isle of man
Name:	Pasha Abdul Saleem
Board function:	Director
Address:	5J the Heritage 18-21 Ormes Road Kilpauk India

NEGATIVE INFORMATION

LEGAL FILINGS
Bankruptcy Filings:	None
Court Judgements:	None
Tax Liens:	None
Other:	None

SHARE & SHARE CAPITAL INFORMATION

SHARE CAPITAL
Composition
Authorised:	GBP 2,000
Number/type:	2,000
Share value:	GBP 1
Issued:	GBP 4
Paid-up:	GBP 4
Shareholders/Owners
How Listed	Full List
Composition
Name:	Mr Gabriel McGlynn
% of shares:	100%
Address:	261 St Pauls Square Ramsey Isle of man

PAYMENT INFORMATION

PAYMENTS
Purchase Terms
Local:	Cash Credits 14-30 days
Imports:	L/Cs
Sales Terms
Local:	Cash Credits 14-30 days
Debt Collections / Judgements	No negative information was found.
Payment Experience
Payment Behaviour:	As trade references were not supplied, the Subject's payment track record history CANNOT BE ACCURATELY DETERMINED, but payments are believed to be PROMPT.

GROUP STRUCTURE & AFFILIATED COMPANIES

Na

FINANCIAL INFORMATION

FINANCIAL ACCOUNTS
Description
Required to file:	No
Source:	N/A
Comments	The Subject's financial statements were not available due to its recent date of establishment.

FOREIGN EXCHANGE RATES

Na

ADDITIONAL INFORMATION

OPERATIONS & HISTORY
Activities
Full description:	The Subject is engaged in distribution of seafood.
Products/services:	Shrimps Fish - Whole & Fillet Squid - Tubes, Fillets & Rings Cuttlefish - Whole, Cleaned & Fillet
Purchases
Import:	India and Europe
PROPERTY & ASSETS
Premises	The Subject operates from premises located at the heading address, consisting of administrative offices.
BANKING & FINANCING
Bankers
Bank name:	BARCLAYS BANK
Relationship type:	Current Account
Comments	It is generally not the policy of local banks to provide credit status information to non-bona fide applications, and interested parties would be advised to consult first with the Subject if banker's references are required.

NOTES & COMMENTS

INVESTIGATIVE NOTES
Sources:	Interviews and material provided by the Subject Other official and local business sources

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.45.07
UK Pound	1	Rs.72.97
Euro	1	Rs.63.57

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.