MIRA INFORM REPORT

Report Date :

27.05.2011

IDENTIFICATION DETAILS

Name :	AL JALORE TRADING FZE
Registered Office :	Ajman Free Zone, EOC No. 1872, Ajman
Country :	United Arab Emirates
Financials (as on) :	31.12.2010
Date of Incorporation :	03.03.2008
Legal Form :	Free Zone Establishment
Line of Business :	Engaged as traders of gold, diamonds and jewellery.

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 :	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 – March 31^st, 2010

Country Name	Previous Rating (31.12.2010)	Current Rating (31.03.2011)
United Arab Emirates	A2	A2

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

SUMMARY

Company Name : AL JALORE TRADING FZE

Country of Origin : Ajman, United Arab Emirates

Legal Form : Free Zone Establishment - FZE

Registration Date : 3^rd March 2008

Trade Licence Number : 4108

Membership Number : 49877

Issued Capital : UAE Dh 150,000

Paid up Capital : UAE Dh 150,000

Total Workforce : 2

Activities : Traders of gold, diamonds and jewellery.

Financial Condition : Fair

Payments : Nothing detrimental uncovered

Operating Trend : Steady

Person Interviewed : Vekram Singh, Financial Controller

COMPANY NAME

AL JALORE TRADING FZE

company ADDRESS

Registered Address

Location : Ajman Free Zone, EOC No. 1872

Town : Ajman

Country : United Arab Emirates

Physical Address

Building : Gold Souq Building M1, Mezzanine Floor

Area : Gold Souq, Deira

PO Box : 64503

Town : Dubai

Country : United Arab Emirates

Telephone : (971-4) 2352604

Facsimile : (971-4) 2352605

Mobile : (971-50) 3970282 / 5670132

Email : aljalore@eim.ae

Premises

Subject operates from a small suite of offices and a showroom that are rented and located in the Central Business Area of Dubai.

KEY PRINCIPALS

Name Nationality Position

· Abi Shaik Kumar Indian Managing Director

· Vekram Singh - Financial Controller

LEGAL FORM & OWNERS

Date of Establishment : 3^rd March 2008

Legal Form : Free Zone Establishment - FZE

Trade Licence No. : 4108 (Expires 01/03/2012)

Membership No. : 49877

Issued Capital : UAE Dh 150,000

Paid up Capital : UAE Dh 150,000

Name of Shareholder (s) Percentage

· Abi Shaik Kumar 100%

OPERATIONS

Activities: Engaged as traders of gold, diamonds and jewellery.

Operating Trend: Steady

Subject has a workforce of 2 employees.

FINANCIAL DATA

Financial highlights provided by local sources are given below:

Currency: United Arab Emirates Dirham (UAE Dh)

Year Ending 31/12/09: Year Ending 31/12/10:

Total Sales UAE Dh 4,920,000 UAE Dh 5,500,000

Local sources consider subject’s financial condition to be Fair.

The above figures were provided by Mr Vekram Singh, Financial Controller

BANKERS

· Commercial Bank of Dubai

Mankhool Street

PO Box: 2668

Dubai

Tel: (971-4) 3523355

Fax: (971-4) 3527655 / 2524796

PAYMENT HISTORY

No complaints regarding subject’s payments have been reported.

GENERAL COMMENTS

During the course of this investigation nothing detrimental was uncovered regarding subject’s operating history or the manner in which payments are fulfilled. As such the company is considered to be a fair trade risk.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.45.29
UK Pound	1	Rs.73.84
Euro	1	Rs.64.18

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%)

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