MIRA INFORM REPORT

Report Date :

04.11.2011

IDENTIFICATION DETAILS

Name :	FARLIN TIMBERS PTE LTD

Registered Office :	435 Orchard Road, #21-01, Wisma Atria Singapore 238877

Country :	Singapore

Date of Incorporation :	03.08.1994

Com. Reg. No.:	199405441Z

Legal Form :	Private Limited Liability Company

Line of Business :	Trading of timber products and coal

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 20,000

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 – September 30, 2011

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

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:	Farlin Timbers Pte Ltd
Supplied Name:	Farlin Timbers Pte Ltd
Trading Address:	435 Orchard Road, #21-01, Wisma Atria Singapore 238877
Supplied Address:	435 Orchard Road, # 21-01 Wismaatria Singapore
Telephone Number:	+65-63981188
Fax Number:	+65-63981177

Credit Summary

Credit Rating:	Maximum credit USD 20,000
Credit Opinion:	Business connections are permissible.

Company Identification Details

Registered Name:	Farlin Timbers Pte Ltd
Registered Address:	435 Orchard Road, #21-01, Wisma Atria Singapore 238877
Date of Registration::	1994-08-03
Registered Number:	199405441Z
Country of Incorporation:	Singapore
Registered Capital:	SGD 55,000,000.00 (USD 42,289,500) (As of 2011.10, 1 SGD = 0.7689 USD)
Paid-up Capital:	SGD 55,000,000.00 (USD 42,289,500) = 55,000,000.00Shares@1 SGD
Legal Form:	Private Limited Liability Company
Principal Activities:	Trading of timber products and coal
Staff:	N/A
Status:	Live company
Listed at Stock Exchange:	No
Date of Last Annual Return:	2010-10-07

Note: Information on staff number could not be obtained from subject or other sources.

History

Subject was incorporated on 1994-08-03 with registered number 199405441Z as Private Limited Liability Company in Singapore.

Change of Name:

Date	Change
1994-08-03	Virgin Wood Products Pte Ltd
1997-10-02	Farlin Timbers Pte Ltd

Shareholders

Unit: SGD

Name	Subscription Amount	Proportion of Investment (%)
Mohammed Farouk	55,000,000	100%
Total	55,000,000	100%

Major Shareholder Information:

Name:	Mohammed Farouk
ID Number:	S2715761J
Address:	95 Grange Road #17-11 Grange Residences Singapore 249616
Nationality:	Singapore P.R.

Management Information

Core Management

Detailed Information of Management:

1
Name:	Mohammed Farouk
Position:	Director
ID Number:	S2715761J
Address:	95 Grange Road, #17-11, Grange Residences Singapore 249616
Nationality:	Singapore P.R.
Date of Appointment:	03-08-1994
2
Name:	Seet Beng Choo Jeanne
Position:	Secretary
ID Number:	S1234059A
Address:	22 Malacca Street, #03-02, Royal Brothers Building Singapore 048980
Nationality:	Singapore Citizen
Date of Appointment:	31-08-2003

Operation Information

Offices & Factories

	Office
Address:	435 Orchard Road, #21-01, Wisma Atria Singapore 238877

Purchase

l Subject is imported timber products and coal from other countries.

Products	Original area
Timber products	West Africa, South America, Southeast Asia
Coal	West Africa, South America, Southeast Asia

Sales Information

l Subject is engaged in the trading of timber products and coal from other countries.

l Subject has both domestic and foreign markets.

Settlements

Purchase

Domestic Markets

Note: Subject seldom purchases from domestic market.

Overseas Markets

Products	Payment Terms	Proportion
Timber products and coal	CBD, etc.	100%

Sales

Domestic Markets

Product	Sales Terms	Proportion
Timber products and coal	CBD, etc.	100%

Overseas Markets

Product	Sales Terms	Proportion
Timber products and coal	CBD, etc.	100%

Financial Information

Subject has no obligations to disclose its financial statements to the third party according to the relevant policy in Singapore, subject did not submit the latest information to the local registry, and the only source from which we can obtain the information is the subject itself.

Subject’s staff declined to disclose financial figures, so financial information is not available.

Auditors

Name:

J K Medora & Co

Public

Charges

Charge 1
Charge Number:	200200829
Date of Registration:	19-02-2002
Name:	The Royal Bank Of Scotland N.V.
Amount Secured:	All Monies
Charge 2
Charge Number:	C200401264
Date of Registration:	17-03-2004
Name:	Indian Bank
Amount Secured:	All Monies
Charge 3
Charge Number:	C200401743
Date of Registration:	06-04-2004
Name:	Societe Generale
Amount Secured:	All Monies
Charge 4
Charge Number:	C200401744
Date of Registration:	06-04-2004
Name:	Societe Generale
Amount Secured:	All Monies
Charge 5
Charge Number:	C200704107
Date of Registration:	30-05-2007
Name:	Uco Bank
Amount Secured:	All Monies
Charge 6
Charge Number:	C200704694
Date of Registration:	22-06-2007
Name:	Bank Of Baroda
Amount Secured:	All Monies
Charge 7
Charge Number:	C200704919
Date of Registration:	28-06-2007
Name:	Indian Overseas Bank
Amount Secured:	All Monies
Charge 8
Charge Number:	C200901941
Date of Registration:	31-03-2009
Name:	Axis Bank Limited Singapore Branch
Amount Secured:	All Monies
Charge 9
Charge Number:	C200902027
Date of Registration:	06-04-2009
Name:	Axis Bank Limited Singapore Branch
Amount Secured:	All Monies
Charge 10
Charge Number:	C200904590
Date of Registration:	24-07-2009
Name:	State Bank Of India
Amount Secured:	All Monies
Charge 11
Charge Number:	C200905172
Date of Registration:	20-08-2009
Name:	Bank Of India
Amount Secured:	All Monies
Charge 12
Charge Number:	C201004295
Date of Registration:	24-05-2010
Name:	Canara Bank, Hong Kong Branch
Amount Secured:	All Monies
Charge 13
Charge Number:	C201005135
Date of Registration:	21-06-2010
Name:	Canara Bank, Hong Kong Branch
Amount Secured:	All Monies
Charge 14
Charge Number:	C201007668
Date of Registration:	31-08-2010
Name:	Punjab National Bank, Hong Kong
Amount Secured:	All Monies
Charge 15
Charge Number:	C201010238
Date of Registration:	29-10-2010
Name:	Bank Of Baroda
Amount Secured:	All Monies

Interview Details

Department:	Sales Department
E-mail:	aditya@farlingroup.com

Note: The woman who answered the phone declined to disclose her name.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.49.37
UK Pound	1	Rs.78.50
Euro	1	Rs.67.59

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.