MIRA INFORM REPORT

Report Date :

01.11.2011

IDENTIFICATION DETAILS

Name :	NIEUWLAAT TRADING B.V.

Registered Office :	De Wjper 18, 4726TG Heerle

Country :	Netherlands

Financials (as on) :	31.12.2010

Date of Incorporation :	31.03.1998

Com. Reg. No.:	20088771

Legal Form :	Limited Company

Line of Business :	Wholesale of home furniture

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 :	€ 4.000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
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 – September 30^th, 2011

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

Netherlands

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

CONTACTINFORMATION

Company name	Nieuwlaat Trading B.V.
Tradename	Nieuwlaat Trading B.V.
	ininrieurfittings.nl
	Van Nieuwlaat
Address	De Wjper 18
	4726TG Heerle
	Netherlands
Mail address	De Wjper 18
	4726TG Heerle
	Netherlands
Telephone number	0165301922
Telefax number	0165304300
E-mail address	info@interieurbeslag.nl
Website	www.interieurbeslag.nl
VAT number	806449792

CREDIT LIMIT

Credit limit A credit of € 4.000 may be granted Normal

MANAGEMENT

Management	A.H.J.M. Nieuwlaat
	Adrianus Hendricus Johanna Mar
	Authorization: Jointly authorized
	Position: Manager
	Date appointed: 25-03-1998
	Date of birth: 10-04-1949
	T.J. Nieuwlaat
	Thijs Jan
	Authorization: Jointly authorized
	Position: Manager
	Date appointed: 01-01-2005
	Date of birth: 05-07-1978

PAYMENT INFORMATION

Payment experiences Payments are regular

FINANCIAL INFORMATION

Publication financial statement	Annual accounts 2010 are published on 16-05-2011
	Annual accounts 2009 are published on 28-03-2011
	Annual accounts 2008 are published on 16-05-2011
	Annual accounts 2007 are published on 18-03-2009
Type of publication	Corporate
Publication	Steady

CORE FIGURES
BOOKYEAR	2010	2009	2007
Quick ratio	3,42	6,30	3,03
Current ratio	3,85	6,30	3,03
Nett workingcapital / Balance total	0,60	0,63	0,45
Capital and reserves / Balance total	0,79	0,88	0,78
Capital and reserves / Fixed assets	4,16	3,50	2,42
Solvency	3,75	7,42	3,48
Nett workingcapital	458.433	424.296	240.000
Capital and reserves	603.433	594.296	411.000
Change capital and reserves	1,54%	44,60%	11,08%
change short term liabilities	100,76%	-32,11%	237,14%

Annual accounts The company is obligated to publish its annual accounts

Last annual accounts 2010

Type of publication Corporate

Result after taxes 2010 : 9.137

Tendency Upward

Tendency capital and reserves

Capital and reserves 2010 603.433

Total debt 2010 160.839

Current ratio 2010 3,85

Quick ratio 2010 3,42

Nett workingcapital 2010 458.433

Profitability NIL

Solvency Sufficient

Liquidity Satisfactory

Current- & Quickratio

BALANCE sheet

Currency in Euro


BOOKYEAR	2010	2009	2007
End of bookyear	31-12-2010	31-12-2009	31-12-2007
Financial assets	145.000	170.000	170.000
Fixed assets	145.000	170.000	170.000

Stocks and work in progress	70.000
Accounts receivable	405.733	362.580	97.000
Liquid assets	143.539	141.831	262.000
Current assets	619.272	504.411	358.000
Total assets	764.272	674.411	528.000

Capital and reserves	603.433	594.296	411.000
Other short term debts			118.000
Total short term debt	160.839	80.115	118.000
Total debt	160.839	80.115	118.000
Total Liabilities	764.272	674.411	528.000

History
Management	Since	01-01-2005 manager Thijs Jan Nieuwlaat appointed.
Modifications	Since	1-1-2005 is the responsibility of manager Adrianus Hendricus Johanna
	Maria	Nieuwlaat changed..

Company structure

· Nieuwlaat Trading B.V. (20088771) Heerle

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.48.87
UK Pound	1	Rs.78.11
Euro	1	Rs.68.36

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.

NACE-code	Wholesale of home furniture (51479)
SBI-code	Wholesale of home furniture (46471)
	Detailhandel via postorder en internet (4791) (Retail sale via mail order and Internet (4791))
Formal objective	Handel in-, im- en export van onderdelen t.b.v. meubelfabricage en handel in en im- en export van artikelen t.b.v. woninginrichting in de ruimste zin. Webwinkel/online sales. (Trading, import and export of parts for furniture production and trade and import and export of home furnishing products serving in the broadest sense. Webstore / online sales.)

Real estate	Lease
	The real estate is checked at the land registration office
	Object code: WOUW P 886
	Owner: NIEUWLAAT ONROHONORND GOED MAATSCHAPPIJ B.V.