MIRA INFORM REPORT

Report Date :

01.10.2011

IDENTIFICATION DETAILS

Name :	OMAN FOODS INTERNATIONAL
Registered Office :	P.O. Box 137 Rusayl Industrial Estate Rusayl, 124
Country :	Oman
Financials (as on) :	31.12.2010
Date of Incorporation :	13.01.1996
Legal Form :	Public Independent
Line of Business :	Manufacture of grain mill products

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 – March 31^st, 2011

Country Name	Previous Rating (31.12.2010)	Current Rating (31.03.2011)
Oman	A2	A2

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

Company name and address

Top of Form

Bottom of Form

Oman Foods International

P.O. Box 137
Rusayl Industrial Estate
Rusayl, 124
Oman
Tel:	968-244-46213
Fax:	968-244-46203
www.omanfoodsintl.com

Employees:

35

Company Type:

Public Independent

Traded:

Muscat Securities Market:

NRCI

Incorporation Date:

13-Jan-1996

Auditor:

Maqbool H. Moosa Yousuf Auditors

Financials in:	USD (mil)
Fiscal Year End:	31-Dec-2010
Reporting Currency:	Rial Omani
Annual Sales:	18.1 ^1
Net Income:	(0.4)
Total Assets:	10.7 ^2
Market Value:	2.0
	(06-Jul-2011)

Business Description

Oman Foods International SAOG, formerly known as National Rice Mills SAOG, is an Oman-based public joint stock company engaged in the processing and sale of rice in the Sultanate of Oman. Its products include rice, sugar, milk powder, masool dal, cooking oil Alia, as well as new products including chicken-masala and mango-pickle. The Company sells processed rice under its own brand names, namely Thamer, Basmah, Asila, Al Watani, as well as under the brand name of its customers. The Company's main shareholders are Bank Muscat SAOG (30.25%), Bank Dhofar SAOG (25.90%) and Oman Arab Bank SAOC (12.44%). Oman Foods International is an Oman-based public joint stock company engaged in the processing and sale of rice in the Sultanate of Oman. Its products include rice, sugar, milk powder, masool dal, cooking oil Alia, as well as new products including chicken-masala and mango-pickle. The Company sells processed rice under its own brand names, namely Thamer, Basmah, Asila, Al Watani, as well as under the brand name of its customers.

Industry

Industry	Food Processing
ANZSIC 2006:	1161 - Grain Mill Product Manufacturing
NACE 2002:	1561 - Manufacture of grain mill products
NAICS 2002:	311212 - Rice Milling
UK SIC 2003:	15612 - Manufacture of breakfast cereals and cereals-based foods
US SIC 1987:	2044 - Rice Milling

Key Executives

Name	Title
V. Parthasarathy	Chief Executive Officer, Secretary to the Board of Directors
Jakumar Menon	Chief Financial Officer
Mardas Abdullah Al Harthy	Non-Executive Chairman of the Board, representing the Government
Humaid Naser Sultan Al Bortmani	Non-Executive Independent Member of the Board
Imad Saud Hilal Al Harthy	Non-Executive Independent Member of the Board

Significant Developments

Topic	#*	Most Recent Headline	Date
Officer Changes	1	Oman Foods International Appoints New Chief Financial Officer	1-Jun-2011

* number of significant developments within the last 12 months

Financial Summary

As of 30-Jun-2011

Key Ratios	Company	Industry
Current Ratio (MRQ)	1.15	1.53
Quick Ratio (MRQ)	0.68	0.78
Debt to Equity (MRQ)	0.45	1.14
Sales 5 Year Growth	37.46	6.97
Net Profit Margin (TTM) %	-4.87	7.06
Return on Assets (TTM) %	-6.93	7.05
Return on Equity (TTM) %	-19.96	21.45

Stock Snapshot

Traded: Muscat Securities Market: NRCI

As of 6-Jul-2011

   Financials in: OMR

Recent Price	0.12	EPS	-0.03
52 Week High	0.13	Price/Sales	0.11
52 Week Low	0.10	Price/Book	0.46
Avg. Volume (mil)	0.0001
Market Value (mil)	0.76

	Price % Change	Rel S&P 500%
4 Week	0.0000%	-3.42%
13 Week	-5.43%	-0.51%
52 Week	-6.15%	3.87%
Year to Date	22.00%	44.00%

1 - Profit & Loss Item Exchange Rate: USD 1 = OMR 0.3850075
2 - Balance Sheet Item Exchange Rate: USD 1 = OMR 0.385

Corporate Overview

Location
P.O. Box 137
Rusayl Industrial Estate
Rusayl, 124
Oman

Tel:	968-244-46213
Fax:	968-244-46203

www.omanfoodsintl.com

Quote Symbol - Exchange
NRCI - Muscat Securities Market
Sales OMR(mil):	7.0
Assets OMR(mil):	4.1
Employees:	35
Fiscal Year End:	31-Dec-2010

Industry:	Food Processing

Incorporation Date:	13-Jan-1996
Company Type:	Public Independent
Quoted Status:	Quoted
Previous Name:	National Rice Mills SAOG

Chief Executive Officer, Secretary to the Board of Directors:	V. Parthasarathy

Company Web Links

Company Contact/E-mail

Corporate History/Profile

Employment Opportunities

Executives

Financial Information

Home Page

News Releases

Products/Services

Contents · Industry Codes · Business Description · Financial Data · Market Data

Shareholders Key Corporate Relationships

Industry Codes

ANZSIC 2006 Codes:
1161	-	Grain Mill Product Manufacturing
3312	-	Cereal Grain Wholesaling

NACE 2002 Codes:
1561	-	Manufacture of grain mill products
5121	-	Wholesale of grain, seeds and animal feeds

NAICS 2002 Codes:
424510	-	Grain and Field Bean Merchant Wholesalers
311212	-	Rice Milling

US SIC 1987:
2044	-	Rice Milling
5153	-	Grain and Field Beans

UK SIC 2003:
5121	-	Wholesale of grain, seeds and animal feeds
15612	-	Manufacture of breakfast cereals and cereals-based foods

Business Description

Oman Foods International SAOG, formerly known as National Rice Mills SAOG, is an Oman-based public joint stock company engaged in the processing and sale of rice in the Sultanate of Oman. Its products include rice, sugar, milk powder, masool dal, cooking oil Alia, as well as new products including chicken-masala and mango-pickle. The Company sells processed rice under its own brand names, namely Thamer, Basmah, Asila, Al Watani, as well as under the brand name of its customers. The Company's main shareholders are Bank Muscat SAOG (30.25%), Bank Dhofar SAOG (25.90%) and Oman Arab Bank SAOC (12.44%). Oman Foods International is an Oman-based public joint stock company engaged in the processing and sale of rice in the Sultanate of Oman. Its products include rice, sugar, milk powder, masool dal, cooking oil Alia, as well as new products including chicken-masala and mango-pickle. The Company sells processed rice under its own brand names, namely Thamer, Basmah, Asila, Al Watani, as well as under the brand name of its customers.

More Business Descriptions

Processing and sale of rice

Financial Data

Financials in:	OMR(mil)
Revenue:	7.0
Net Income:	-0.2
Assets:	4.1
Long Term Debt:	0.7
Total Liabilities:	2.5
Working Capital:	0.0
Date of Financial Data:	31-Dec-2010

1 Year Growth

-39.6%

NA

-28.9%

Market Data

Quote Symbol:	NRCI
Exchange:	Muscat Securities Market
Currency:	OMR
Stock Price:	0.1
Stock Price Date:	07-06-2011
52 Week Price Change %:	-6.2
Market Value (mil):	756.5
SEDOL:	6606479
ISIN:	OM0000002010
Equity and Dept Distribution:
12/2006, Company name changed from National Rice Mills S.A.O.G.

Shareholders

Major Shareholders

Bank Muscat SAOG (30.14%); Bank Dhofar SAOG (25.9%); Oman Arab Bank SAOG (12.94%)

Key Corporate Relationships

Auditor:	Maqbool H. Moosa Yousuf Auditors
Auditor:	MHMY Auditors, Maqbool H. Moosa Yousuf Auditors

Executives Report

Board of Directors

Name	Title	Function
Mardas Abdullah Al Harthy	Non-Executive Chairman of the Board, representing the Government	Chairman
Humaid Naser Sultan Al Bortmani	Non-Executive Independent Member of the Board	Director/Board Member
Imad Saud Hilal Al Harthy	Non-Executive Independent Member of the Board	Director/Board Member
Abdul Naser Noori Ahmad Al Raisi	Non-Executive Independent Member of the Board	Director/Board Member
Malallah Ali Yousef Al Zadjali	Non-Executive Member of the Board, representing the Government	Director/Board Member
S. Sarathy	Non-Executive Independent Member of the Board	Director/Board Member
Mr. S. Sarathy serves as Non-Executive Independent Member of the Board of Oman Foods International. He is also Member of Al Ahlia Detergent Co. SAOG and Oman Chemical Ind. SAOG.

Executives

Name	Title	Function
V. Parthasarathy	Chief Executive Officer, Secretary to the Board of Directors	Chief Executive Officer
Mr. V. Parthasarathy serves as Chief Executive Officer and Secretary to the Board of Directors of Oman Foods International. He is a Chartered Accountant with 42 years of experience in various Management, Industrial and Infrastructure developments, Audit and Consultancy services with many organizations including Ministries in India. He is responsible for the overall day to day business operations of the Company.
Jakumar Menon	Chief Financial Officer	Finance Executive

Significant Developments

Oman Foods International Appoints New Chief Financial Officer

Jun 01, 2011

Oman Foods International announced that the Company has appointed on May 31, 2011, Jakumar Menon as the new Chief Financial Officer, to succeed Shama Rao Srinivisan, who resigned from his post as Financial Controller.

Annual Income Statement

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

Financial Glossary

	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007	31-Dec-2006
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Updated Normal 31-Dec-2008	Updated Normal 31-Dec-2007	Updated Normal 31-Dec-2006
Filed Currency	OMR	OMR	OMR	OMR	OMR
Exchange Rate (Period Average)	0.385008	0.384999	0.384956	0.384897	0.384998
Auditor	Maqbool H. Moosa Yousuf Auditors	Maqbool H. Moosa Yousuf Auditors	Maqbool H. Moosa Yousuf Auditors	BDO	BDO
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified with Explanation	Unqualified
Net Sales	18.1	29.9	17.0	7.9	3.4
Revenue	18.1	29.9	17.0	7.9	3.4
Total Revenue	18.1	29.9	17.0	7.9	3.4
Cost of Revenue	17.1	27.5	13.7	6.6	3.2
Cost of Revenue, Total	17.1	27.5	13.7	6.6	3.2
Gross Profit	1.0	2.4	3.3	1.3	0.1
Selling/General/Administrative Expense	1.6	1.4	1.2	0.8	0.6
Total Selling/General/Administrative Expenses	1.6	1.4	1.2	0.8	0.6
Depreciation	0.1	0.1	0.1	-	-
Depreciation/Amortization	0.1	0.1	0.1	-	-
Impairment-Assets Held for Sale	-	0.0	0.1	-	-
Loss (Gain) on Sale of Assets - Operating	0.0	-	-	-	-
Unusual Expense (Income)	0.0	0.0	0.1	-	-
Other, Net	-0.3	-0.4	-0.4	-0.2	-0.2
Other Operating Expenses, Total	-0.3	-0.4	-0.4	-0.2	-0.2
Total Operating Expense	18.5	28.7	14.6	7.3	3.7
Operating Income	-0.4	1.3	2.4	0.6	-0.3
Other Non-Operating Income (Expense)	0.0	0.0	0.0	0.0	0.0
Other, Net	0.0	0.0	0.0	0.0	0.0
Income Before Tax	-0.4	1.3	2.4	0.6	-0.4
Total Income Tax	0.0	0.0	0.0	0.0	0.0
Income After Tax	-0.4	1.3	2.4	0.6	-0.4
Net Income Before Extraord Items	-0.4	1.3	2.4	0.6	-0.4
Net Income	-0.4	1.3	2.4	0.6	-0.4
Income Available to Common Excl Extraord Items	-0.4	1.3	2.4	0.6	-0.4
Income Available to Common Incl Extraord Items	-0.4	1.3	2.4	0.6	-0.4
Basic/Primary Weighted Average Shares	6.2	6.2	5.0	5.0	4.0
Basic EPS Excl Extraord Items	-0.07	0.20	0.47	0.12	-0.09
Basic/Primary EPS Incl Extraord Items	-0.07	0.20	0.47	0.12	-0.09
Dilution Adjustment	-	-	-	-	0.0
Diluted Net Income	-0.4	1.3	2.4	0.6	-0.4
Diluted Weighted Average Shares	6.2	6.2	5.0	5.0	4.0
Diluted EPS Excl Extraord Items	-0.07	0.20	0.47	0.12	-0.09
Diluted EPS Incl Extraord Items	-0.07	0.20	0.47	0.12	-0.09
Interest Expense, Supplemental	0.0	0.0	0.0	0.0	0.0
Depreciation, Supplemental	0.3	0.3	0.3	0.3	0.3
Total Special Items	0.0	0.0	0.1	-	-
Normalized Income Before Tax	-0.4	1.3	2.4	0.6	-0.4
Effect of Special Items on Income Taxes	0.0	0.0	0.0	-	-
Inc Tax Ex Impact of Sp Items	0.0	0.0	0.0	0.0	0.0
Normalized Income After Tax	-0.4	1.3	2.4	0.6	-0.4
Normalized Inc. Avail to Com.	-0.4	1.3	2.4	0.6	-0.4
Basic Normalized EPS	-0.07	0.20	0.49	0.12	-0.09
Diluted Normalized EPS	-0.07	0.20	0.49	0.12	-0.09
Rental Expenses	0.0	0.0	0.0	0.0	0.0
Advertising Expense, Supplemental	0.2	0.2	0.2	0.1	0.1
Normalized EBIT	-0.4	1.3	2.5	0.6	-0.3
Normalized EBITDA	-0.1	1.6	2.7	0.9	-0.1

Annual Balance Sheet

Financials in: USD (mil)

Financial Glossary

	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007	31-Dec-2006
UpdateType/Date	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Updated Normal 31-Dec-2008	Updated Normal 31-Dec-2007	Updated Normal 31-Dec-2006
Filed Currency	OMR	OMR	OMR	OMR	OMR
Exchange Rate	0.385	0.38495	0.38505	0.385	0.385
Auditor	Maqbool H. Moosa Yousuf Auditors	Maqbool H. Moosa Yousuf Auditors	Maqbool H. Moosa Yousuf Auditors	BDO	BDO
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified with Explanation	Unqualified
Cash	1.8	5.2	3.3	0.0	0.0
Cash and Short Term Investments	1.8	5.2	3.3	0.0	0.0
Accounts Receivable - Trade, Gross	12.2	12.6	12.9	12.7	4.7
Provision for Doubtful Accounts	-10.6	-10.5	-10.6	-10.8	-3.7
Trade Accounts Receivable - Net	1.6	2.0	2.3	1.9	1.0
Other Receivables	0.2	0.3	0.1	0.0	-
Total Receivables, Net	1.8	2.4	2.4	1.9	1.0
Inventories - Finished Goods	0.4	0.3	0.4	0.3	0.1
Inventories - Raw Materials	1.8	2.0	0.6	0.4	0.2
Inventories - Other	0.6	0.8	0.5	-0.1	-0.1
Total Inventory	2.8	3.1	1.6	0.6	0.2
Total Current Assets	6.4	10.7	7.3	2.6	1.2
Buildings	2.3	2.3	2.3	2.3	-
Machinery/Equipment	3.9	3.8	3.4	3.5	-
Construction in Progress	-	0.0	0.1	-	-
Property/Plant/Equipment - Gross	6.2	6.1	5.9	5.8	-
Accumulated Depreciation	-3.9	-3.6	-3.2	-3.0	-
Property/Plant/Equipment - Net	2.3	2.5	2.7	2.8	3.0
LT Investments - Other	1.9	1.9	-	-	-
Long Term Investments	1.9	1.9	-	-	-
Total Assets	10.7	15.0	10.0	5.4	4.2
Accounts Payable	4.1	7.7	3.8	1.7	1.1
Accrued Expenses	-	0.0	0.2	0.0	0.0
Notes Payable/Short Term Debt	0.0	0.0	0.0	0.0	0.0
Current Portion - Long Term Debt/Capital Leases	0.4	0.3	0.2	0.1	0.8
Other Payables	0.1	0.3	0.2	0.1	0.1
Other Current liabilities, Total	0.1	0.3	0.2	0.1	0.1
Total Current Liabilities	4.6	8.3	4.3	1.9	2.0
Long Term Debt	1.7	2.1	2.3	2.5	7.5
Capital Lease Obligations	0.0	0.0	0.0	0.0	-
Total Long Term Debt	1.7	2.1	2.4	2.5	7.5
Total Debt	2.1	2.4	2.5	2.6	8.3
Pension Benefits - Underfunded	0.1	0.0	0.0	0.0	0.0
Other Liabilities, Total	0.1	0.0	0.0	0.0	0.0
Total Liabilities	6.4	10.4	6.7	4.4	9.5
Common Stock	16.1	16.1	16.1	16.1	10.4
Common Stock	16.1	16.1	16.1	16.1	10.4
Retained Earnings (Accumulated Deficit)	-11.8	-11.5	-12.8	-15.2	-15.8
Total Equity	4.3	4.6	3.3	0.9	-5.4
Total Liabilities & Shareholders’ Equity	10.7	15.0	10.0	5.4	4.2
Shares Outstanding - Common Stock Primary Issue	6.2	6.0	6.0	6.0	4.0
Total Common Shares Outstanding	6.2	6.0	6.0	6.0	4.0
Number of Common Shareholders	-	-	-	1,573	1,573
Total Long Term Debt, Supplemental	2.1	-	2.5	-	-
Long Term Debt Maturing within 1 Year	0.4	-	0.1	-	-
Long Term Debt Maturing in Year 2	0.4	-	0.4	-	-
Long Term Debt Maturing in Year 3	0.4	-	0.4	-	-
Long Term Debt Maturing in Year 4	0.4	-	0.4	-	-
Long Term Debt Maturing in Year 5	0.4	-	0.4	-	-
Long Term Debt Maturing in 2-3 Years	0.8	-	0.8	-	-
Long Term Debt Maturing in 4-5 Years	0.8	-	0.8	-	-
Long Term Debt Matur. in Year 6 & Beyond	0.0	-	0.6	-	-
Total Capital Leases, Supplemental	0.0	0.0	0.1	0.3	0.3
Capital Lease Payments Due in Year 1	0.0	0.0	0.0	0.0	0.0
Capital Lease Payments Due in Year 2	0.0	0.0	0.0	0.0	0.0
Capital Lease Payments Due in Year 3	0.0	0.0	0.0	0.0	0.0
Capital Lease Payments Due in Year 4	0.0	0.0	0.0	0.0	0.0
Capital Lease Payments Due in Year 5	0.0	0.0	0.0	0.0	0.0
Capital Lease Payments Due in 2-3 Years	0.0	0.0	0.0	0.1	0.0
Capital Lease Payments Due in 4-5 Years	0.0	0.0	0.0	0.1	0.0
Cap. Lease Pymts. Due in Year 6 & Beyond	0.0	0.0	0.0	0.2	0.2
Total Operating Leases, Supplemental	0.2	0.3	0.3	0.3	-
Operating Lease Payments Due in Year 1	0.0	0.0	0.0	0.0	-
Operating Lease Payments Due in Year 2	0.0	0.0	0.0	0.0	-
Operating Lease Payments Due in Year 3	0.0	0.0	0.0	0.0	-
Operating Lease Payments Due in Year 4	0.0	0.0	0.0	0.0	-
Operating Lease Payments Due in Year 5	0.0	0.0	0.0	0.0	-
Operating Lease Pymts. Due in 2-3 Years	0.0	0.0	0.0	0.1	-
Operating Lease Pymts. Due in 4-5 Years	0.0	0.0	0.0	0.1	-
Oper. Lse. Pymts. Due in Year 6 & Beyond	0.1	0.2	0.2	0.2	-

Annual Cash Flows

Financials in: USD (mil)

Financial Glossary

	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007	31-Dec-2006
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Updated Normal 31-Dec-2008	Updated Normal 31-Dec-2007	Updated Normal 31-Dec-2006
Filed Currency	OMR	OMR	OMR	OMR	OMR
Exchange Rate (Period Average)	0.385008	0.384999	0.384956	0.384897	0.384998
Auditor	Maqbool H. Moosa Yousuf Auditors	Maqbool H. Moosa Yousuf Auditors	Maqbool H. Moosa Yousuf Auditors	BDO	BDO
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified with Explanation	Unqualified
Net Income/Starting Line	-0.4	1.3	2.4	0.6	-0.4
Depreciation	0.3	0.3	0.3	0.3	0.3
Depreciation/Depletion	0.3	0.3	0.3	0.3	0.3
Unusual Items	-0.1	0.0	0.1	0.0	0.0
Other Non-Cash Items	0.1	0.1	0.0	0.0	0.0
Non-Cash Items	0.0	0.1	0.1	0.0	0.0
Accounts Receivable	0.5	0.0	-0.5	-0.9	-0.1
Inventories	0.2	-1.6	-0.9	-0.5	0.0
Accounts Payable	-3.7	3.8	2.3	0.6	0.9
Other Operating Cash Flow	0.0	0.0	0.0	0.0	-0.1
Changes in Working Capital	-3.0	2.2	0.9	-0.8	0.8
Cash from Operating Activities	-3.1	3.9	3.7	0.1	0.7
Purchase of Fixed Assets	-0.1	-0.1	-0.3	-0.1	0.0
Capital Expenditures	-0.1	-0.1	-0.3	-0.1	0.0
Sale of Fixed Assets	0.0	0.0	0.0	0.0	0.0
Other Investing Cash Flow	0.0	-1.8	-	-	-
Other Investing Cash Flow Items, Total	0.0	-1.8	0.0	0.0	0.0
Cash from Investing Activities	-0.1	-1.8	-0.3	-0.1	0.0
Sale/Issuance of Common/Preferred	-	-	0.0	5.7	-
Issuance (Retirement) of Stock, Net	-	-	0.0	5.7	-
Long Term Debt, Net	-0.3	-0.2	-0.1	-5.7	0.0
Issuance (Retirement) of Debt, Net	-0.3	-0.2	-0.1	-5.7	0.0
Cash from Financing Activities	-0.3	-0.2	-0.1	0.0	0.0
Net Change in Cash	-3.5	1.9	3.3	0.0	0.7
Net Cash - Beginning Balance	5.2	3.3	0.0	0.0	-0.6
Net Cash - Ending Balance	1.8	5.2	3.3	0.0	0.0
Cash Interest Paid	0.0	0.0	0.0	0.0	0.0

Annual Income Statement

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007	31-Dec-2006
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Updated Normal 31-Dec-2008	Updated Normal 31-Dec-2007	Updated Normal 31-Dec-2006
Filed Currency	OMR	OMR	OMR	OMR	OMR
Exchange Rate (Period Average)	0.385008	0.384999	0.384956	0.384897	0.384998
Auditor	Maqbool H. Moosa Yousuf Auditors	Maqbool H. Moosa Yousuf Auditors	Maqbool H. Moosa Yousuf Auditors	BDO	BDO
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified with Explanation	Unqualified
Turnover	18.1	29.9	17.0	7.9	3.4
Total Revenue	18.1	29.9	17.0	7.9	3.4
Cost of Turnover	17.1	27.5	13.7	6.6	3.2
Other Income	-0.5	-0.5	-0.4	-0.2	-0.2
Administrative and General Expenses	0.7	0.6	0.5	0.5	0.5
Selling and Distribution Expenses	1.0	0.8	0.7	0.4	0.2
Depreciation	0.1	0.1	0.1	-	-
Provision for Impairment	0.0	0.1	-	-	-
Provision for Doubtfull Debts	0.1	-	-	-	-
Profit on Sale of fixed Assets	0.0	-	-	-	-
Impairment of Fixed Assets	-	0.0	0.1	-	-
Total Operating Expense	18.5	28.7	14.6	7.3	3.7
Financial Costs	0.0	0.0	0.0	0.0	0.0
Net Income Before Taxes	-0.4	1.3	2.4	0.6	-0.4
Provision for Income Taxes	0.0	0.0	0.0	0.0	0.0
Net Income After Taxes	-0.4	1.3	2.4	0.6	-0.4
Net Income Before Extra. Items	-0.4	1.3	2.4	0.6	-0.4
Net Income	-0.4	1.3	2.4	0.6	-0.4
Income Available to Com Excl ExtraOrd	-0.4	1.3	2.4	0.6	-0.4
Income Available to Com Incl ExtraOrd	-0.4	1.3	2.4	0.6	-0.4
Basic Weighted Average Shares	6.2	6.2	5.0	5.0	4.0
Basic EPS Excluding ExtraOrdinary Items	-0.07	0.20	0.47	0.12	-0.09
Basic EPS Including ExtraOrdinary Items	-0.07	0.20	0.47	0.12	-0.09
Dilution Adjustment	-	-	-	-	0.0
Diluted Net Income	-0.4	1.3	2.4	0.6	-0.4
Diluted Weighted Average Shares	6.2	6.2	5.0	5.0	4.0
Diluted EPS Excluding ExtraOrd Items	-0.07	0.20	0.47	0.12	-0.09
Diluted EPS Including ExtraOrd Items	-0.07	0.20	0.47	0.12	-0.09
Normalized Income Before Taxes	-0.4	1.3	2.4	0.6	-0.4
Inc Tax Ex Impact of Sp Items	0.0	0.0	0.0	0.0	0.0
Normalized Income After Taxes	-0.4	1.3	2.4	0.6	-0.4
Normalized Inc. Avail to Com.	-0.4	1.3	2.4	0.6	-0.4
Basic Normalized EPS	-0.07	0.20	0.49	0.12	-0.09
Diluted Normalized EPS	-0.07	0.20	0.49	0.12	-0.09
Depreciation	0.3	0.3	0.3	0.3	0.3
Advertising Expenses	0.2	0.2	0.2	0.1	0.1
Rental Expenses	0.0	0.0	0.0	0.0	0.0
Interest Expenses	0.0	0.0	0.0	0.0	0.0

Annual Balance Sheet

Financials in: USD (mil)

	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007	31-Dec-2006
UpdateType/Date	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Updated Normal 31-Dec-2008	Updated Normal 31-Dec-2007	Updated Normal 31-Dec-2006
Filed Currency	OMR	OMR	OMR	OMR	OMR
Exchange Rate	0.385	0.38495	0.38505	0.385	0.385
Auditor	Maqbool H. Moosa Yousuf Auditors	Maqbool H. Moosa Yousuf Auditors	Maqbool H. Moosa Yousuf Auditors	BDO	BDO
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified with Explanation	Unqualified
Raw Materials	1.5	1.7	0.5	0.2	0.1
Packing Materials	0.3	0.3	0.2	0.2	0.1
Finished Goods	0.4	0.3	0.4	0.3	0.1
Trading Goods	0.6	0.3	0.2	-	-
PASFR Distribution Stock	0.2	0.6	0.3	-	-
Stores & Spares	0.0	-	-	-	-
Provisions for Slow Moving Inventories	-0.2	-0.1	0.0	-0.1	-0.1
Trade Receivables	12.2	12.6	12.9	12.7	4.7
Provision for Doubtful Debts	-10.6	-10.5	-10.6	-10.8	-3.7
Advances, Deposits and Prepayment	-	-	-	-	0.0
Other Receivables	0.2	0.3	0.1	0.0	-
Amounts due to Related Parties	-	-	-	-	0.0
Cash Balance	1.8	5.2	3.3	0.0	0.0
Total Current Assets	6.4	10.7	7.3	2.6	1.2
Fixed Assets- Net	-	-	-	-	3.0
Buildings and Civil Works	2.3	2.3	2.3	2.3	-
Plant and Machinery	1.8	1.8	1.5	1.7	-
Electromechanical Installations	1.1	1.1	1.1	1.1	-
Electromechanical Equipment	0.2	0.2	0.2	0.2	-
Furniture, Fixtures and Office Equipment	0.6	0.5	0.4	0.4	-
Motor Vehicles	0.2	0.2	0.2	0.2	-
Capital Work in Progress	-	0.0	0.1	-	-
Depreciation	-3.9	-3.6	-3.2	-3.0	-
Subordinated Bonds	1.9	1.9	-	-	-
Total Assets	10.7	15.0	10.0	5.4	4.2
Trade Payables	4.1	7.7	3.8	1.7	1.1
Other Payables	0.1	0.3	0.2	0.1	0.1
Accrued Expenses	-	0.0	0.2	0.0	0.0
Amounts due to Related Party	-	-	-	-	0.0
Bank Overdraft	-	-	-	-	0.0
Leases Finance	0.0	0.0	0.0	0.0	-
Term Loans	0.4	0.3	0.1	0.1	0.8
Total Current Liabilities	4.6	8.3	4.3	1.9	2.0
Lease Finance, excluding Current Mat.	0.0	0.0	0.0	0.0	-
Term Loans, Excluding Current Maturities	1.4	1.7	1.8	1.8	7.1
Deferred Government Grant	0.2	0.4	0.5	0.7	0.5
Total Long Term Debt	1.7	2.1	2.4	2.5	7.5
Staff Terminal Benefits	0.1	0.0	0.0	0.0	0.0
Total Liabilities	6.4	10.4	6.7	4.4	9.5
Share Capital	16.1	16.1	16.1	16.1	10.4
Legal Reserve	0.4	0.4	0.3	0.1	0.0
Accumulated Losses	-12.4	-12.0	-13.1	-15.3	-15.8
FV Reserves	0.2	0.1	-	-	-
Total Equity	4.3	4.6	3.3	0.9	-5.4
Total Liabilities & Shareholders' Equity	10.7	15.0	10.0	5.4	4.2
S/O-Ordinary Share	6.2	6.0	6.0	6.0	4.0
Total Common Shares Outstanding	6.2	6.0	6.0	6.0	4.0
Number of Shareholders	-	-	-	1,573	1,573
Term Loans within 1 Year	0.4	-	0.1	-	-
Term Loans 2-5 Years	1.7	-	1.7	-	-
Term Loans over 5 Years	-	-	0.6	-	-
Total Long Term Debt, Supplemental	2.1	-	2.5	-	-
Capital Leases Less Than 1 Year	0.0	0.0	0.0	0.0	0.0
Capital Leases Between 1 & 5 Years	0.0	0.0	0.0	0.1	0.1
Capital Leases More Than 5 Years	-	-	-	0.2	0.2
Total Capital Leases, Supplemental	0.0	0.0	0.1	0.3	0.3
Op. Leases Not Later than 1 Yr	0.0	0.0	0.0	0.0	-
Between 1 - 5 Yrs	0.1	0.1	0.1	0.1	-
Later than 5 Yrs	0.1	0.2	0.2	0.2	-
Total Operating Leases, Supplemental	0.2	0.3	0.3	0.3	-

Annual Cash Flows

Financials in: USD (mil)

	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007	31-Dec-2006
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Updated Normal 31-Dec-2008	Updated Normal 31-Dec-2007	Updated Normal 31-Dec-2006
Filed Currency	OMR	OMR	OMR	OMR	OMR
Exchange Rate (Period Average)	0.385008	0.384999	0.384956	0.384897	0.384998
Auditor	Maqbool H. Moosa Yousuf Auditors	Maqbool H. Moosa Yousuf Auditors	Maqbool H. Moosa Yousuf Auditors	BDO	BDO
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified with Explanation	Unqualified
Loss for the Year	-0.4	1.3	2.4	0.6	-0.4
Depreciation	0.3	0.3	0.3	0.3	0.3
Impairment of Plant & Machinery	-0.1	0.0	0.1	-	-
Finance Costs	0.0	0.0	0.0	0.0	0.0
Staff Terminal Benefits, Charged	0.0	0.0	0.0	0.0	0.0
Disposal of Fixed Assets	0.0	0.0	0.0	0.0	0.0
Inventories	0.2	-1.6	-0.9	-0.5	0.0
Provision For Stock	0.0	0.1	-	-	-
Trade Receivables	0.5	0.0	-0.5	-0.9	-0.5
Other Receivables	-	-	0.0	0.0	0.4
Trade and Other Payables	-3.7	3.8	2.3	0.6	0.9
Staff Terminal Benefits Paid	0.0	0.0	0.0	0.0	0.0
Interest Paid	0.0	0.0	0.0	0.0	0.0
Cash from Operating Activities	-3.1	3.9	3.7	0.1	0.7
Additions to Property, Plant & Equipment	-0.1	-0.1	-0.3	-0.1	0.0
Purchase of AFS Financial Assets	0.0	-1.8	-	-	-
Proceeds from Sale of Fixed Assets	0.0	0.0	0.0	0.0	0.0
Cash from Investing Activities	-0.1	-1.8	-0.3	-0.1	0.0
Term Loans Availed	-0.3	-0.1	-0.1	-5.8	0.0
Lease Finance Availed	0.0	0.0	0.0	0.1	-
Long Term Loans Converted into Shares	-	-	0.0	5.7	-
Cash from Financing Activities	-0.3	-0.2	-0.1	0.0	0.0
Net Change in Cash	-3.5	1.9	3.3	0.0	0.7
Cash Interest Paid	0.0	0.0	0.0	0.0	0.0
Cash & Equivalent, Beginning of the Year	5.2	3.3	0.0	0.0	-0.6
Cash & Equivalent, End of the Year	1.8	5.2	3.3	0.0	0.0

Financial Health

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

Key Indicators USD (mil)
Â	Quarter Ending 30-Jun-2011	Quarter Ending Yr Ago	Annual Year End 31-Dec-2010	1 Year Growth	3 Year Growth	5 Year Growth
Total Revenue1	4.5	-14.56%	18.1	-39.58%	31.76%	37.46%
Operating Income1	-0.2	-	-0.4	-	-	-
Income Available to Common Excl Extraord Items1	-0.2	-	-0.4	-	-	-
Basic EPS Excl Extraord Items1	-0.04	-	-0.07	-	-	-
Capital Expenditures2	-	-	0.1	19.17%	-15.26%	48.20%
Cash from Operating Activities2	0.8	-	-3.1	-	-	-
Free Cash Flow	0.8	-	-3.2	-	-	-
Total Assets3	11.3	-17.11%	10.7	-28.88%	25.64%	20.02%
Total Liabilities3	7.5	-14.52%	6.4	-38.28%	12.95%	-7.21%
Total Long Term Debt3	1.2	-35.71%	1.7	-18.11%	-12.14%	-26.25%
Total Common Shares Outstanding3	6.2	3.30%	6.2	3.30%	1.09%	9.15%
1-ExchangeRate: OMR to USD Average for Period	0.385023	Â	0.385008	Â	Â	Â
2-ExchangeRate: OMR to USD Average for Period	0.385048	Â	0.385008	Â	Â	Â
3-ExchangeRate: OMR to USD Period End Date	0.385050	Â	0.385000	Â	Â	Â

Key Ratios
Â	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007	31-Dec-2006
Profitability
Gross Margin	5.58%	7.97%	19.65%	16.49%	3.94%
Operating Margin	-2.34%	4.24%	13.95%	7.92%	-10.04%
Pretax Margin	-2.46%	4.19%	13.86%	7.72%	-10.42%
Net Profit Margin	-2.46%	4.19%	13.86%	7.72%	-10.42%
Financial Strength
Current Ratio	1.38	1.29	1.69	1.35	0.60
Long Term Debt/Equity	0.40	0.45	0.72	2.69	-1.40
Total Debt/Equity	0.49	0.51	0.77	2.79	-1.54
Management Effectiveness
Return on Assets	-3.47%	10.03%	30.63%	12.80%	-8.31%
Return on Equity	-10.01%	31.68%	111.43%	-27.44%	6.73%
Efficiency
Receivables Turnover	8.62	12.58	7.90	5.44	3.52
Inventory Turnover	5.80	11.84	12.30	15.60	17.65
Asset Turnover	1.41	2.39	2.21	1.66	0.80

Market Valuation USD (mil)
Enterprise Value2	2.1	.	Price/Sales (TTM)	0.11
Enterprise Value/Revenue (TTM)	0.12	.	Price/Book (MRQ)	0.52
Market Cap as of 06-Jul-20111	2.0	.
1-ExchangeRate: OMR to USD on 6-Jul-2011	0.385000
2-ExchangeRate: OMR to USD on 30-Jun-2011	0.385050

Annual Ratios

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007	31-Dec-2006
Financial Strength
Current Ratio	1.38	1.29	1.69	1.35	0.60
Quick/Acid Test Ratio	0.78	0.92	1.33	1.01	0.50
Working Capital1	1.8	2.4	3.0	0.7	-0.8
Long Term Debt/Equity	0.40	0.45	0.72	2.69	-1.40
Total Debt/Equity	0.49	0.51	0.77	2.79	-1.54
Long Term Debt/Total Capital	0.27	0.30	0.41	0.71	2.58
Total Debt/Total Capital	0.33	0.34	0.43	0.74	2.84
Effective Tax Rate	-	0.00%	0.00%	0.00%	-
Total Capital1	6.4	7.0	5.8	3.5	2.9
Efficiency
Asset Turnover	1.41	2.39	2.21	1.66	0.80
Inventory Turnover	5.80	11.84	12.30	15.60	17.65
Days In Inventory	62.93	30.82	29.67	23.40	20.69
Receivables Turnover	8.62	12.58	7.90	5.44	3.52
Days Receivables Outstanding	42.36	29.01	46.23	67.09	103.58
Profitability
Gross Margin	5.58%	7.97%	19.65%	16.49%	3.94%
Operating Margin	-2.34%	4.24%	13.95%	7.92%	-10.04%
EBITDA Margin	-0.60%	5.24%	15.60%	11.24%	-2.32%
EBIT Margin	-2.34%	4.24%	13.95%	7.92%	-10.04%
Pretax Margin	-2.46%	4.19%	13.86%	7.72%	-10.42%
Net Profit Margin	-2.46%	4.19%	13.86%	7.72%	-10.42%
COGS/Revenue	94.42%	92.03%	80.35%	83.51%	96.06%
SG&A Expense/Revenue	9.03%	4.63%	6.98%	10.61%	18.84%
Management Effectiveness
Return on Assets	-3.47%	10.03%	30.63%	12.80%	-8.31%
Return on Equity	-10.01%	31.68%	111.43%	-27.44%	6.73%
Valuation
Free Cash Flow/Share2	-0.52	0.64	0.57	0.00	0.17
Operating Cash Flow/Share 2	-0.50	0.65	0.61	0.02	0.17
1-ExchangeRate: OMR to USD Period End Date	0.385	0.38495	0.38505	0.385	0.385
2-ExchangeRate: OMR to USD Average for Period	0.385	0.38495	0.38505	0.385	0.385

Current Market Multiples
Market Cap/Earnings (TTM)	-2.28
Market Cap/Equity (MRQ)	0.52
Market Cap/Revenue (TTM)	0.11
Market Cap/EBIT (TTM)	-2.77
Market Cap/EBITDA (TTM)	-4.09
Enterprise Value/Earnings (TTM)	-2.42
Enterprise Value/Equity (MRQ)	0.55
Enterprise Value/Revenue (TTM)	0.12
Enterprise Value/EBIT (TTM)	-2.93
Enterprise Value/EBITDA (TTM)	-4.33

Annual Income Statement

Standardized

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

Financial Glossary

	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007	31-Dec-2006
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Updated Normal 31-Dec-2008	Updated Normal 31-Dec-2007	Updated Normal 31-Dec-2006
Filed Currency	OMR	OMR	OMR	OMR	OMR
Exchange Rate (Period Average)	0.385008	0.384999	0.384956	0.384897	0.384998
Auditor	Maqbool H. Moosa Yousuf Auditors	Maqbool H. Moosa Yousuf Auditors	Maqbool H. Moosa Yousuf Auditors	BDO	BDO
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified with Explanation	Unqualified
Net Sales	18.1	29.9	17.0	7.9	3.4
Revenue	18.1	29.9	17.0	7.9	3.4
Total Revenue	18.1	29.9	17.0	7.9	3.4
Cost of Revenue	17.1	27.5	13.7	6.6	3.2
Cost of Revenue, Total	17.1	27.5	13.7	6.6	3.2
Gross Profit	1.0	2.4	3.3	1.3	0.1
Selling/General/Administrative Expense	1.6	1.4	1.2	0.8	0.6
Total Selling/General/Administrative Expenses	1.6	1.4	1.2	0.8	0.6
Depreciation	0.1	0.1	0.1	-	-
Depreciation/Amortization	0.1	0.1	0.1	-	-
Impairment-Assets Held for Sale	-	0.0	0.1	-	-
Loss (Gain) on Sale of Assets - Operating	0.0	-	-	-	-
Unusual Expense (Income)	0.0	0.0	0.1	-	-
Other, Net	-0.3	-0.4	-0.4	-0.2	-0.2
Other Operating Expenses, Total	-0.3	-0.4	-0.4	-0.2	-0.2
Total Operating Expense	18.5	28.7	14.6	7.3	3.7
Operating Income	-0.4	1.3	2.4	0.6	-0.3
Other Non-Operating Income (Expense)	0.0	0.0	0.0	0.0	0.0
Other, Net	0.0	0.0	0.0	0.0	0.0
Income Before Tax	-0.4	1.3	2.4	0.6	-0.4
Total Income Tax	0.0	0.0	0.0	0.0	0.0
Income After Tax	-0.4	1.3	2.4	0.6	-0.4
Net Income Before Extraord Items	-0.4	1.3	2.4	0.6	-0.4
Net Income	-0.4	1.3	2.4	0.6	-0.4
Income Available to Common Excl Extraord Items	-0.4	1.3	2.4	0.6	-0.4
Income Available to Common Incl Extraord Items	-0.4	1.3	2.4	0.6	-0.4
Basic/Primary Weighted Average Shares	6.2	6.2	5.0	5.0	4.0
Basic EPS Excl Extraord Items	-0.07	0.20	0.47	0.12	-0.09
Basic/Primary EPS Incl Extraord Items	-0.07	0.20	0.47	0.12	-0.09
Dilution Adjustment	-	-	-	-	0.0
Diluted Net Income	-0.4	1.3	2.4	0.6	-0.4
Diluted Weighted Average Shares	6.2	6.2	5.0	5.0	4.0
Diluted EPS Excl Extraord Items	-0.07	0.20	0.47	0.12	-0.09
Diluted EPS Incl Extraord Items	-0.07	0.20	0.47	0.12	-0.09
Interest Expense, Supplemental	0.0	0.0	0.0	0.0	0.0
Depreciation, Supplemental	0.3	0.3	0.3	0.3	0.3
Total Special Items	0.0	0.0	0.1	-	-
Normalized Income Before Tax	-0.4	1.3	2.4	0.6	-0.4
Effect of Special Items on Income Taxes	0.0	0.0	0.0	-	-
Inc Tax Ex Impact of Sp Items	0.0	0.0	0.0	0.0	0.0
Normalized Income After Tax	-0.4	1.3	2.4	0.6	-0.4
Normalized Inc. Avail to Com.	-0.4	1.3	2.4	0.6	-0.4
Basic Normalized EPS	-0.07	0.20	0.49	0.12	-0.09
Diluted Normalized EPS	-0.07	0.20	0.49	0.12	-0.09
Rental Expenses	0.0	0.0	0.0	0.0	0.0
Advertising Expense, Supplemental	0.2	0.2	0.2	0.1	0.1
Normalized EBIT	-0.4	1.3	2.5	0.6	-0.3
Normalized EBITDA	-0.1	1.6	2.7	0.9	-0.1

Interim Income Statement

Standardized

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

Financial Glossary

	30-Jun-2011	31-Mar-2011	31-Dec-2010	30-Sep-2010	30-Jun-2010
Period Length	3 Months	3 Months	3 Months	3 Months	3 Months
UpdateType/Date	Updated Normal 30-Jun-2011	Updated Normal 31-Mar-2011	Updated Normal 31-Dec-2010	Updated Normal 30-Sep-2010	Restated Normal 30-Jun-2011
Filed Currency	OMR	OMR	OMR	OMR	OMR
Exchange Rate (Period Average)	0.385023	0.385072	0.385068	0.385004	0.384989
Net Sales	4.5	4.5	4.7	4.0	5.3
Revenue	4.5	4.5	4.7	4.0	5.3
Total Revenue	4.5	4.5	4.7	4.0	5.3
Cost of Revenue	4.3	4.2	4.3	3.8	5.0
Cost of Revenue, Total	4.3	4.2	4.3	3.8	5.0
Gross Profit	0.2	0.2	0.4	0.2	0.3
Selling/General/Administrative Expense	0.4	0.4	0.4	0.6	0.3
Total Selling/General/Administrative Expenses	0.4	0.4	0.4	0.6	0.3
Depreciation	0.0	0.0	-0.1	0.1	0.1
Depreciation/Amortization	0.0	0.0	-0.1	0.1	0.1
Other, Net	0.0	0.0	0.3	-0.3	-0.2
Other Operating Expenses, Total	0.0	0.0	0.3	-0.3	-0.2
Total Operating Expense	4.7	4.6	4.8	4.2	5.2
Operating Income	-0.2	-0.1	-0.1	-0.2	0.1
Other Non-Operating Income (Expense)	0.0	0.0	-0.1	0.0	0.0
Other, Net	0.0	0.0	-0.1	0.0	0.0
Income Before Tax	-0.2	-0.1	-0.3	-0.2	0.1
Total Income Tax	0.0	0.0	0.0	0.0	0.0
Income After Tax	-0.2	-0.1	-0.3	-0.2	0.1
Net Income Before Extraord Items	-0.2	-0.1	-0.3	-0.2	0.1
Net Income	-0.2	-0.1	-0.3	-0.2	0.1
Income Available to Common Excl Extraord Items	-0.2	-0.1	-0.3	-0.2	0.1
Income Available to Common Incl Extraord Items	-0.2	-0.1	-0.3	-0.2	0.1
Basic/Primary Weighted Average Shares	6.2	6.2	6.2	6.2	6.2
Basic EPS Excl Extraord Items	-0.04	-0.02	-0.05	-0.03	0.02
Basic/Primary EPS Incl Extraord Items	-0.04	-0.02	-0.05	-0.03	0.02
Dilution Adjustment	0.0	0.0	0.0	-	-
Diluted Net Income	-0.2	-0.1	-0.3	-0.2	0.1
Diluted Weighted Average Shares	6.2	6.2	6.2	6.2	6.2
Diluted EPS Excl Extraord Items	-0.04	-0.02	-0.05	-0.03	0.02
Diluted EPS Incl Extraord Items	-0.04	-0.02	-0.05	-0.03	0.02
Dividends per Share - Common Stock Primary Issue	0.00	0.00	0.00	0.00	0.00
Gross Dividends - Common Stock	0.0	0.0	0.0	0.0	0.0
Interest Expense, Supplemental	0.0	0.0	0.0	0.0	0.0
Depreciation, Supplemental	0.0	0.0	0.1	0.1	0.1
Normalized Income Before Tax	-0.2	-0.1	-0.3	-0.2	0.1
Inc Tax Ex Impact of Sp Items	0.0	0.0	0.0	0.0	0.0
Normalized Income After Tax	-0.2	-0.1	-0.3	-0.2	0.1
Normalized Inc. Avail to Com.	-0.2	-0.1	-0.3	-0.2	0.1
Basic Normalized EPS	-0.04	-0.02	-0.05	-0.03	0.02
Diluted Normalized EPS	-0.04	-0.02	-0.05	-0.03	0.02
Normalized EBIT	-0.2	-0.1	-0.1	-0.2	0.1
Normalized EBITDA	-0.2	-0.1	-0.1	-0.1	0.2

Annual Balance Sheet

Standardized

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

Financial Glossary

	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007	31-Dec-2006
UpdateType/Date	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Updated Normal 31-Dec-2008	Updated Normal 31-Dec-2007	Updated Normal 31-Dec-2006
Filed Currency	OMR	OMR	OMR	OMR	OMR
Exchange Rate	0.385	0.38495	0.38505	0.385	0.385
Auditor	Maqbool H. Moosa Yousuf Auditors	Maqbool H. Moosa Yousuf Auditors	Maqbool H. Moosa Yousuf Auditors	BDO	BDO
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified with Explanation	Unqualified
Cash	1.8	5.2	3.3	0.0	0.0
Cash and Short Term Investments	1.8	5.2	3.3	0.0	0.0
Accounts Receivable - Trade, Gross	12.2	12.6	12.9	12.7	4.7
Provision for Doubtful Accounts	-10.6	-10.5	-10.6	-10.8	-3.7
Trade Accounts Receivable - Net	1.6	2.0	2.3	1.9	1.0
Other Receivables	0.2	0.3	0.1	0.0	-
Total Receivables, Net	1.8	2.4	2.4	1.9	1.0
Inventories - Finished Goods	0.4	0.3	0.4	0.3	0.1
Inventories - Raw Materials	1.8	2.0	0.6	0.4	0.2
Inventories - Other	0.6	0.8	0.5	-0.1	-0.1
Total Inventory	2.8	3.1	1.6	0.6	0.2
Total Current Assets	6.4	10.7	7.3	2.6	1.2
Buildings	2.3	2.3	2.3	2.3	-
Machinery/Equipment	3.9	3.8	3.4	3.5	-
Construction in Progress	-	0.0	0.1	-	-
Property/Plant/Equipment - Gross	6.2	6.1	5.9	5.8	-
Accumulated Depreciation	-3.9	-3.6	-3.2	-3.0	-
Property/Plant/Equipment - Net	2.3	2.5	2.7	2.8	3.0
LT Investments - Other	1.9	1.9	-	-	-
Long Term Investments	1.9	1.9	-	-	-
Total Assets	10.7	15.0	10.0	5.4	4.2
Accounts Payable	4.1	7.7	3.8	1.7	1.1
Accrued Expenses	-	0.0	0.2	0.0	0.0
Notes Payable/Short Term Debt	0.0	0.0	0.0	0.0	0.0
Current Portion - Long Term Debt/Capital Leases	0.4	0.3	0.2	0.1	0.8
Other Payables	0.1	0.3	0.2	0.1	0.1
Other Current liabilities, Total	0.1	0.3	0.2	0.1	0.1
Total Current Liabilities	4.6	8.3	4.3	1.9	2.0
Long Term Debt	1.7	2.1	2.3	2.5	7.5
Capital Lease Obligations	0.0	0.0	0.0	0.0	-
Total Long Term Debt	1.7	2.1	2.4	2.5	7.5
Total Debt	2.1	2.4	2.5	2.6	8.3
Pension Benefits - Underfunded	0.1	0.0	0.0	0.0	0.0
Other Liabilities, Total	0.1	0.0	0.0	0.0	0.0
Total Liabilities	6.4	10.4	6.7	4.4	9.5
Common Stock	16.1	16.1	16.1	16.1	10.4
Common Stock	16.1	16.1	16.1	16.1	10.4
Retained Earnings (Accumulated Deficit)	-11.8	-11.5	-12.8	-15.2	-15.8
Total Equity	4.3	4.6	3.3	0.9	-5.4
Total Liabilities & Shareholders’ Equity	10.7	15.0	10.0	5.4	4.2
Shares Outstanding - Common Stock Primary Issue	6.2	6.0	6.0	6.0	4.0
Total Common Shares Outstanding	6.2	6.0	6.0	6.0	4.0
Number of Common Shareholders	-	-	-	1,573	1,573
Total Long Term Debt, Supplemental	2.1	-	2.5	-	-
Long Term Debt Maturing within 1 Year	0.4	-	0.1	-	-
Long Term Debt Maturing in Year 2	0.4	-	0.4	-	-
Long Term Debt Maturing in Year 3	0.4	-	0.4	-	-
Long Term Debt Maturing in Year 4	0.4	-	0.4	-	-
Long Term Debt Maturing in Year 5	0.4	-	0.4	-	-
Long Term Debt Maturing in 2-3 Years	0.8	-	0.8	-	-
Long Term Debt Maturing in 4-5 Years	0.8	-	0.8	-	-
Long Term Debt Matur. in Year 6 & Beyond	0.0	-	0.6	-	-
Total Capital Leases, Supplemental	0.0	0.0	0.1	0.3	0.3
Capital Lease Payments Due in Year 1	0.0	0.0	0.0	0.0	0.0
Capital Lease Payments Due in Year 2	0.0	0.0	0.0	0.0	0.0
Capital Lease Payments Due in Year 3	0.0	0.0	0.0	0.0	0.0
Capital Lease Payments Due in Year 4	0.0	0.0	0.0	0.0	0.0
Capital Lease Payments Due in Year 5	0.0	0.0	0.0	0.0	0.0
Capital Lease Payments Due in 2-3 Years	0.0	0.0	0.0	0.1	0.0
Capital Lease Payments Due in 4-5 Years	0.0	0.0	0.0	0.1	0.0
Cap. Lease Pymts. Due in Year 6 & Beyond	0.0	0.0	0.0	0.2	0.2
Total Operating Leases, Supplemental	0.2	0.3	0.3	0.3	-
Operating Lease Payments Due in Year 1	0.0	0.0	0.0	0.0	-
Operating Lease Payments Due in Year 2	0.0	0.0	0.0	0.0	-
Operating Lease Payments Due in Year 3	0.0	0.0	0.0	0.0	-
Operating Lease Payments Due in Year 4	0.0	0.0	0.0	0.0	-
Operating Lease Payments Due in Year 5	0.0	0.0	0.0	0.0	-
Operating Lease Pymts. Due in 2-3 Years	0.0	0.0	0.0	0.1	-
Operating Lease Pymts. Due in 4-5 Years	0.0	0.0	0.0	0.1	-
Oper. Lse. Pymts. Due in Year 6 & Beyond	0.1	0.2	0.2	0.2	-

Interim Balance Sheet

Standardized

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

Financial Glossary

	30-Jun-2011	31-Mar-2011	31-Dec-2010	30-Sep-2010	30-Jun-2010
UpdateType/Date	Updated Normal 30-Jun-2011	Updated Normal 31-Mar-2011	Updated Normal 31-Dec-2010	Updated Normal 30-Sep-2010	Restated Normal 30-Jun-2011
Filed Currency	OMR	OMR	OMR	OMR	OMR
Exchange Rate	0.38505	0.385	0.385	0.385	0.38475
Cash	1.6	3.3	1.8	4.9	2.9
Cash and Short Term Investments	1.6	3.3	1.8	4.9	2.9
Accounts Receivable - Trade, Gross	12.2	12.0	12.2	12.8	13.3
Provision for Doubtful Accounts	-10.6	-10.6	-10.6	-10.5	-10.6
Trade Accounts Receivable - Net	1.5	1.4	1.6	2.2	2.8
Other Receivables	1.2	-	0.2	0.1	0.1
Total Receivables, Net	2.7	1.4	1.8	2.4	2.9
Inventories - Finished Goods	1.4	1.2	0.4	2.1	1.8
Inventories - Raw Materials	1.7	2.0	1.8	2.2	1.7
Inventories - Other	-0.2	-0.2	0.6	-0.1	-0.1
Total Inventory	3.0	3.0	2.8	4.2	3.5
Total Current Assets	7.2	7.8	6.4	11.5	9.2
Property/Plant/Equipment - Net	2.2	2.2	2.3	2.3	2.4
LT Investments - Other	1.8	1.8	1.9	1.9	1.9
Long Term Investments	1.8	1.8	1.9	1.9	1.9
Total Assets	11.3	11.9	10.7	15.7	13.6
Accounts Payable	5.8	5.8	4.2	9.1	6.7
Notes Payable/Short Term Debt	0.0	0.0	0.0	0.0	0.0
Current Portion - Long Term Debt/Capital Leases	0.5	0.3	0.4	0.4	0.3
Total Current Liabilities	6.3	6.0	4.6	9.5	6.9
Long Term Debt	1.2	1.8	1.7	1.7	1.8
Capital Lease Obligations	-	-	0.0	-	-
Total Long Term Debt	1.2	1.8	1.7	1.7	1.8
Total Debt	1.7	2.1	2.1	2.1	2.1
Pension Benefits - Underfunded	-	-	0.1	-	-
Other Liabilities, Total	-	-	0.1	-	-
Total Liabilities	7.5	7.8	6.4	11.1	8.8
Common Stock	16.1	16.1	16.1	16.1	16.1
Common Stock	16.1	16.1	16.1	16.1	16.1
Retained Earnings (Accumulated Deficit)	-12.3	-12.1	-11.8	-11.5	-11.3
Total Equity	3.8	4.0	4.3	4.6	4.8
Total Liabilities & Shareholders’ Equity	11.3	11.9	10.7	15.7	13.6
Shares Outstanding - Common Stock Primary Issue	6.2	6.2	6.2	6.0	6.0
Total Common Shares Outstanding	6.2	6.2	6.2	6.0	6.0

Annual Cash Flows

Standardized

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

Financial Glossary

	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007	31-Dec-2006
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Updated Normal 31-Dec-2008	Updated Normal 31-Dec-2007	Updated Normal 31-Dec-2006
Filed Currency	OMR	OMR	OMR	OMR	OMR
Exchange Rate (Period Average)	0.385008	0.384999	0.384956	0.384897	0.384998
Auditor	Maqbool H. Moosa Yousuf Auditors	Maqbool H. Moosa Yousuf Auditors	Maqbool H. Moosa Yousuf Auditors	BDO	BDO
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified with Explanation	Unqualified
Net Income/Starting Line	-0.4	1.3	2.4	0.6	-0.4
Depreciation	0.3	0.3	0.3	0.3	0.3
Depreciation/Depletion	0.3	0.3	0.3	0.3	0.3
Unusual Items	-0.1	0.0	0.1	0.0	0.0
Other Non-Cash Items	0.1	0.1	0.0	0.0	0.0
Non-Cash Items	0.0	0.1	0.1	0.0	0.0
Accounts Receivable	0.5	0.0	-0.5	-0.9	-0.1
Inventories	0.2	-1.6	-0.9	-0.5	0.0
Accounts Payable	-3.7	3.8	2.3	0.6	0.9
Other Operating Cash Flow	0.0	0.0	0.0	0.0	-0.1
Changes in Working Capital	-3.0	2.2	0.9	-0.8	0.8
Cash from Operating Activities	-3.1	3.9	3.7	0.1	0.7
Purchase of Fixed Assets	-0.1	-0.1	-0.3	-0.1	0.0
Capital Expenditures	-0.1	-0.1	-0.3	-0.1	0.0
Sale of Fixed Assets	0.0	0.0	0.0	0.0	0.0
Other Investing Cash Flow	0.0	-1.8	-	-	-
Other Investing Cash Flow Items, Total	0.0	-1.8	0.0	0.0	0.0
Cash from Investing Activities	-0.1	-1.8	-0.3	-0.1	0.0
Sale/Issuance of Common/Preferred	-	-	0.0	5.7	-
Issuance (Retirement) of Stock, Net	-	-	0.0	5.7	-
Long Term Debt, Net	-0.3	-0.2	-0.1	-5.7	0.0
Issuance (Retirement) of Debt, Net	-0.3	-0.2	-0.1	-5.7	0.0
Cash from Financing Activities	-0.3	-0.2	-0.1	0.0	0.0
Net Change in Cash	-3.5	1.9	3.3	0.0	0.7
Net Cash - Beginning Balance	5.2	3.3	0.0	0.0	-0.6
Net Cash - Ending Balance	1.8	5.2	3.3	0.0	0.0
Cash Interest Paid	0.0	0.0	0.0	0.0	0.0

Interim Cash Flows

Standardized

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

Financial Glossary

	30-Jun-2011	31-Mar-2011	31-Dec-2010	30-Sep-2010	30-Jun-2010
Period Length	6 Months	3 Months	12 Months	9 Months	6 Months
UpdateType/Date	Updated Normal 30-Jun-2011	Updated Normal 31-Mar-2011	Updated Normal 31-Dec-2010	Updated Normal 30-Sep-2010	Updated Normal 30-Jun-2010
Filed Currency	OMR	OMR	OMR	OMR	OMR
Exchange Rate (Period Average)	0.385048	0.385072	0.385008	0.384987	0.384977
Net Income/Starting Line	-	-	-0.4	-	-
Depreciation	-	-	0.3	-	-
Depreciation/Depletion	-	-	0.3	-	-
Other Operating Cash Flow	0.8	1.6	-3.0	0.1	-2.2
Changes in Working Capital	0.8	1.6	-3.0	0.1	-2.2
Cash from Operating Activities	0.8	1.6	-3.1	0.1	-2.2
Other Investing Cash Flow	0.0	0.0	-0.1	-0.2	-0.2
Other Investing Cash Flow Items, Total	0.0	0.0	-0.1	-0.2	-0.2
Cash from Investing Activities	0.0	0.0	-0.1	-0.2	-0.2
Other Financing Cash Flow	0.0	0.0	-0.3	-0.3	0.0
Financing Cash Flow Items	0.0	0.0	-0.3	-0.3	0.0
Cash from Financing Activities	0.0	0.0	-0.3	-0.3	0.0
Net Change in Cash	0.8	1.6	-3.5	-0.4	-2.4
Net Cash - Beginning Balance	1.8	1.8	5.2	5.2	5.2
Net Cash - Ending Balance	2.6	3.3	1.8	4.9	2.9
Cash Interest Paid	-	0.0	0.0	0.0	0.0
Cash Taxes Paid	-	-	-	0.0	0.0

Annual Income Statement

As Reported

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007	31-Dec-2006
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Updated Normal 31-Dec-2008	Updated Normal 31-Dec-2007	Updated Normal 31-Dec-2006
Filed Currency	OMR	OMR	OMR	OMR	OMR
Exchange Rate (Period Average)	0.385008	0.384999	0.384956	0.384897	0.384998
Auditor	Maqbool H. Moosa Yousuf Auditors	Maqbool H. Moosa Yousuf Auditors	Maqbool H. Moosa Yousuf Auditors	BDO	BDO
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified with Explanation	Unqualified
Turnover	18.1	29.9	17.0	7.9	3.4
Total Revenue	18.1	29.9	17.0	7.9	3.4
Cost of Turnover	17.1	27.5	13.7	6.6	3.2
Other Income	-0.5	-0.5	-0.4	-0.2	-0.2
Administrative and General Expenses	0.7	0.6	0.5	0.5	0.5
Selling and Distribution Expenses	1.0	0.8	0.7	0.4	0.2
Depreciation	0.1	0.1	0.1	-	-
Provision for Impairment	0.0	0.1	-	-	-
Provision for Doubtfull Debts	0.1	-	-	-	-
Profit on Sale of fixed Assets	0.0	-	-	-	-
Impairment of Fixed Assets	-	0.0	0.1	-	-
Total Operating Expense	18.5	28.7	14.6	7.3	3.7
Financial Costs	0.0	0.0	0.0	0.0	0.0
Net Income Before Taxes	-0.4	1.3	2.4	0.6	-0.4
Provision for Income Taxes	0.0	0.0	0.0	0.0	0.0
Net Income After Taxes	-0.4	1.3	2.4	0.6	-0.4
Net Income Before Extra. Items	-0.4	1.3	2.4	0.6	-0.4
Net Income	-0.4	1.3	2.4	0.6	-0.4
Income Available to Com Excl ExtraOrd	-0.4	1.3	2.4	0.6	-0.4
Income Available to Com Incl ExtraOrd	-0.4	1.3	2.4	0.6	-0.4
Basic Weighted Average Shares	6.2	6.2	5.0	5.0	4.0
Basic EPS Excluding ExtraOrdinary Items	-0.07	0.20	0.47	0.12	-0.09
Basic EPS Including ExtraOrdinary Items	-0.07	0.20	0.47	0.12	-0.09
Dilution Adjustment	-	-	-	-	0.0
Diluted Net Income	-0.4	1.3	2.4	0.6	-0.4
Diluted Weighted Average Shares	6.2	6.2	5.0	5.0	4.0
Diluted EPS Excluding ExtraOrd Items	-0.07	0.20	0.47	0.12	-0.09
Diluted EPS Including ExtraOrd Items	-0.07	0.20	0.47	0.12	-0.09
Normalized Income Before Taxes	-0.4	1.3	2.4	0.6	-0.4
Inc Tax Ex Impact of Sp Items	0.0	0.0	0.0	0.0	0.0
Normalized Income After Taxes	-0.4	1.3	2.4	0.6	-0.4
Normalized Inc. Avail to Com.	-0.4	1.3	2.4	0.6	-0.4
Basic Normalized EPS	-0.07	0.20	0.49	0.12	-0.09
Diluted Normalized EPS	-0.07	0.20	0.49	0.12	-0.09
Depreciation	0.3	0.3	0.3	0.3	0.3
Advertising Expenses	0.2	0.2	0.2	0.1	0.1
Rental Expenses	0.0	0.0	0.0	0.0	0.0
Interest Expenses	0.0	0.0	0.0	0.0	0.0

Interim Income Statement

As Reported

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	30-Jun-2011	31-Mar-2011	31-Dec-2010	30-Sep-2010	30-Jun-2010
Period Length	3 Months	3 Months	3 Months	3 Months	3 Months
UpdateType/Date	Updated Normal 30-Jun-2011	Updated Normal 31-Mar-2011	Updated Normal 31-Dec-2010	Updated Normal 30-Sep-2010	Restated Normal 30-Jun-2011
Filed Currency	OMR	OMR	OMR	OMR	OMR
Exchange Rate (Period Average)	0.385023	0.385072	0.385068	0.385004	0.384989
Turnover /Revenue	4.5	4.5	4.7	4.0	5.3
Total Revenue	4.5	4.5	4.7	4.0	5.3
Cost of Revenues	4.3	4.2	4.3	3.8	5.0
Other Income	0.0	0.0	0.3	-0.3	-0.2
Depreciation	0.0	0.0	-0.1	0.1	0.1
Selling/General/Administration Expenses	0.4	0.4	0.4	0.6	0.3
Total Operating Expense	4.7	4.6	4.8	4.2	5.2
Financial Charges	0.0	0.0	0.0	0.0	0.0
Provisions for Doubtful Debts	-	-	-0.1	-	-
Write Back Previous Provisions	-	-	0.0	0.0	-
Net Income Before Taxes	-0.2	-0.1	-0.3	-0.2	0.1
Provision for Income Taxes	0.0	0.0	0.0	0.0	0.0
Net Income After Taxes	-0.2	-0.1	-0.3	-0.2	0.1
Net Income Before Extra. Items	-0.2	-0.1	-0.3	-0.2	0.1
Net Income	-0.2	-0.1	-0.3	-0.2	0.1
Income Available to Com Excl ExtraOrd	-0.2	-0.1	-0.3	-0.2	0.1
Income Available to Com Incl ExtraOrd	-0.2	-0.1	-0.3	-0.2	0.1
Basic Weighted Average Shares	6.2	6.2	6.2	6.2	6.2
Basic EPS Excluding ExtraOrdinary Items	-0.04	-0.02	-0.05	-0.03	0.02
Basic EPS Including ExtraOrdinary Items	-0.04	-0.02	-0.05	-0.03	0.02
Dilution Adjustment	0.0	0.0	0.0	-	-
Diluted Net Income	-0.2	-0.1	-0.3	-0.2	0.1
Diluted Weighted Average Shares	6.2	6.2	6.2	6.2	6.2
Diluted EPS Excluding ExtraOrd Items	-0.04	-0.02	-0.05	-0.03	0.02
Diluted EPS Including ExtraOrd Items	-0.04	-0.02	-0.05	-0.03	0.02
DPS-Ordinary Share	0.00	0.00	0.00	0.00	0.00
Gross Dividends - Common Stock	0.0	0.0	0.0	0.0	0.0
Normalized Income Before Taxes	-0.2	-0.1	-0.3	-0.2	0.1
Inc Tax Ex Impact of Sp Items	0.0	0.0	0.0	0.0	0.0
Normalized Income After Taxes	-0.2	-0.1	-0.3	-0.2	0.1
Normalized Inc. Avail to Com.	-0.2	-0.1	-0.3	-0.2	0.1
Basic Normalized EPS	-0.04	-0.02	-0.05	-0.03	0.02
Diluted Normalized EPS	-0.04	-0.02	-0.05	-0.03	0.02
Depreciation	0.0	0.0	0.1	0.1	0.1
Finance Costs	0.0	0.0	0.0	0.0	0.0

Annual Balance Sheet

As Reported

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007	31-Dec-2006
UpdateType/Date	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Updated Normal 31-Dec-2008	Updated Normal 31-Dec-2007	Updated Normal 31-Dec-2006
Filed Currency	OMR	OMR	OMR	OMR	OMR
Exchange Rate	0.385	0.38495	0.38505	0.385	0.385
Auditor	Maqbool H. Moosa Yousuf Auditors	Maqbool H. Moosa Yousuf Auditors	Maqbool H. Moosa Yousuf Auditors	BDO	BDO
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified with Explanation	Unqualified
Raw Materials	1.5	1.7	0.5	0.2	0.1
Packing Materials	0.3	0.3	0.2	0.2	0.1
Finished Goods	0.4	0.3	0.4	0.3	0.1
Trading Goods	0.6	0.3	0.2	-	-
PASFR Distribution Stock	0.2	0.6	0.3	-	-
Stores & Spares	0.0	-	-	-	-
Provisions for Slow Moving Inventories	-0.2	-0.1	0.0	-0.1	-0.1
Trade Receivables	12.2	12.6	12.9	12.7	4.7
Provision for Doubtful Debts	-10.6	-10.5	-10.6	-10.8	-3.7
Advances, Deposits and Prepayment	-	-	-	-	0.0
Other Receivables	0.2	0.3	0.1	0.0	-
Amounts due to Related Parties	-	-	-	-	0.0
Cash Balance	1.8	5.2	3.3	0.0	0.0
Total Current Assets	6.4	10.7	7.3	2.6	1.2
Fixed Assets- Net	-	-	-	-	3.0
Buildings and Civil Works	2.3	2.3	2.3	2.3	-
Plant and Machinery	1.8	1.8	1.5	1.7	-
Electromechanical Installations	1.1	1.1	1.1	1.1	-
Electromechanical Equipment	0.2	0.2	0.2	0.2	-
Furniture, Fixtures and Office Equipment	0.6	0.5	0.4	0.4	-
Motor Vehicles	0.2	0.2	0.2	0.2	-
Capital Work in Progress	-	0.0	0.1	-	-
Depreciation	-3.9	-3.6	-3.2	-3.0	-
Subordinated Bonds	1.9	1.9	-	-	-
Total Assets	10.7	15.0	10.0	5.4	4.2
Trade Payables	4.1	7.7	3.8	1.7	1.1
Other Payables	0.1	0.3	0.2	0.1	0.1
Accrued Expenses	-	0.0	0.2	0.0	0.0
Amounts due to Related Party	-	-	-	-	0.0
Bank Overdraft	-	-	-	-	0.0
Leases Finance	0.0	0.0	0.0	0.0	-
Term Loans	0.4	0.3	0.1	0.1	0.8
Total Current Liabilities	4.6	8.3	4.3	1.9	2.0
Lease Finance, excluding Current Mat.	0.0	0.0	0.0	0.0	-
Term Loans, Excluding Current Maturities	1.4	1.7	1.8	1.8	7.1
Deferred Government Grant	0.2	0.4	0.5	0.7	0.5
Total Long Term Debt	1.7	2.1	2.4	2.5	7.5
Staff Terminal Benefits	0.1	0.0	0.0	0.0	0.0
Total Liabilities	6.4	10.4	6.7	4.4	9.5
Share Capital	16.1	16.1	16.1	16.1	10.4
Legal Reserve	0.4	0.4	0.3	0.1	0.0
Accumulated Losses	-12.4	-12.0	-13.1	-15.3	-15.8
FV Reserves	0.2	0.1	-	-	-
Total Equity	4.3	4.6	3.3	0.9	-5.4
Total Liabilities & Shareholders' Equity	10.7	15.0	10.0	5.4	4.2
S/O-Ordinary Share	6.2	6.0	6.0	6.0	4.0
Total Common Shares Outstanding	6.2	6.0	6.0	6.0	4.0
Number of Shareholders	-	-	-	1,573	1,573
Term Loans within 1 Year	0.4	-	0.1	-	-
Term Loans 2-5 Years	1.7	-	1.7	-	-
Term Loans over 5 Years	-	-	0.6	-	-
Total Long Term Debt, Supplemental	2.1	-	2.5	-	-
Capital Leases Less Than 1 Year	0.0	0.0	0.0	0.0	0.0
Capital Leases Between 1 & 5 Years	0.0	0.0	0.0	0.1	0.1
Capital Leases More Than 5 Years	-	-	-	0.2	0.2
Total Capital Leases, Supplemental	0.0	0.0	0.1	0.3	0.3
Op. Leases Not Later than 1 Yr	0.0	0.0	0.0	0.0	-
Between 1 - 5 Yrs	0.1	0.1	0.1	0.1	-
Later than 5 Yrs	0.1	0.2	0.2	0.2	-
Total Operating Leases, Supplemental	0.2	0.3	0.3	0.3	-

Interim Balance Sheet

As Reported

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	30-Jun-2011	31-Mar-2011	31-Dec-2010	30-Sep-2010	30-Jun-2010
UpdateType/Date	Updated Normal 30-Jun-2011	Updated Normal 31-Mar-2011	Updated Normal 31-Dec-2010	Updated Normal 30-Sep-2010	Restated Normal 30-Jun-2011
Filed Currency	OMR	OMR	OMR	OMR	OMR
Exchange Rate	0.38505	0.385	0.385	0.385	0.38475
Raw & Packing Material	1.7	2.0	1.8	2.2	1.7
Finished Goods	1.4	1.2	0.4	2.1	1.8
Less: Provision	-0.2	-0.2	-0.2	-0.1	-0.1
Trading Goods	-	-	0.6	-	-
PASFR Distribution Stock	-	-	0.2	-	-
Trade Receivables	12.2	12.0	12.2	12.8	13.3
Other Receivables	-	-	0.2	-	-
Less: Provision	-10.6	-10.6	-10.6	-10.5	-10.6
Cash at Bank and in Hand	1.6	3.3	1.8	4.9	2.9
Other Payments	1.2	-	-	0.1	0.1
Total Current Assets	7.2	7.8	6.4	11.5	9.2
Property, Plant & Equipment	2.2	2.2	2.3	2.3	2.4
Investment AFS	1.8	1.8	1.9	1.9	1.9
Total Assets	11.3	11.9	10.7	15.7	13.6
Trade and Other Creditors	5.8	5.8	4.2	9.1	6.7
Provision for Repair	-	-	-	0.0	-
Bank Overdrafts & LTR's	-	0.0	-	-	0.0
Govt. Soft Loan Installment due<1 year	0.5	0.3	0.4	-	0.3
Government Soft Loan due <3 years	-	-	-	0.4	-
Lease Finances	-	-	0.0	-	-
Total Current Liabilities	6.3	6.0	4.6	9.5	6.9
Loans- Banks net of Conversion to Equity	-	1.4	1.4	-	-
Soft Loans	0.8	-	-	-	1.4
Lease Finance, excluding Current Mat.	-	-	0.0	-	-
Long Term Loans - GSL	-	-	-	1.1	-
Deferred Government Grant	0.4	0.4	0.2	0.6	0.4
Total Long Term Debt	1.2	1.8	1.7	1.7	1.8
Staff Terminal Benefits	-	-	0.1	-	-
Total Liabilities	7.5	7.8	6.4	11.1	8.8
Issued Capital	16.1	16.1	16.1	16.1	16.1
Accumulated Losses	-12.4	-12.4	-12.4	-12.0	-12.0
Legal Reserve	0.4	0.4	0.4	0.4	0.4
FV Reserve	0.0	0.0	0.2	0.2	0.2
Profit & (Loss) Account for the Period	-0.4	-0.1	-	-0.1	0.1
Total Equity	3.8	4.0	4.3	4.6	4.8
Total Liabilities & Shareholders' Equity	11.3	11.9	10.7	15.7	13.6
S/O-Ordinary Share	6.2	6.2	6.2	6.0	6.0
Total Common Shares Outstanding	6.2	6.2	6.2	6.0	6.0

Annual Cash Flows

As Reported

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007	31-Dec-2006
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Updated Normal 31-Dec-2008	Updated Normal 31-Dec-2007	Updated Normal 31-Dec-2006
Filed Currency	OMR	OMR	OMR	OMR	OMR
Exchange Rate (Period Average)	0.385008	0.384999	0.384956	0.384897	0.384998
Auditor	Maqbool H. Moosa Yousuf Auditors	Maqbool H. Moosa Yousuf Auditors	Maqbool H. Moosa Yousuf Auditors	BDO	BDO
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified with Explanation	Unqualified
Loss for the Year	-0.4	1.3	2.4	0.6	-0.4
Depreciation	0.3	0.3	0.3	0.3	0.3
Impairment of Plant & Machinery	-0.1	0.0	0.1	-	-
Finance Costs	0.0	0.0	0.0	0.0	0.0
Staff Terminal Benefits, Charged	0.0	0.0	0.0	0.0	0.0
Disposal of Fixed Assets	0.0	0.0	0.0	0.0	0.0
Inventories	0.2	-1.6	-0.9	-0.5	0.0
Provision For Stock	0.0	0.1	-	-	-
Trade Receivables	0.5	0.0	-0.5	-0.9	-0.5
Other Receivables	-	-	0.0	0.0	0.4
Trade and Other Payables	-3.7	3.8	2.3	0.6	0.9
Staff Terminal Benefits Paid	0.0	0.0	0.0	0.0	0.0
Interest Paid	0.0	0.0	0.0	0.0	0.0
Cash from Operating Activities	-3.1	3.9	3.7	0.1	0.7
Additions to Property, Plant & Equipment	-0.1	-0.1	-0.3	-0.1	0.0
Purchase of AFS Financial Assets	0.0	-1.8	-	-	-
Proceeds from Sale of Fixed Assets	0.0	0.0	0.0	0.0	0.0
Cash from Investing Activities	-0.1	-1.8	-0.3	-0.1	0.0
Term Loans Availed	-0.3	-0.1	-0.1	-5.8	0.0
Lease Finance Availed	0.0	0.0	0.0	0.1	-
Long Term Loans Converted into Shares	-	-	0.0	5.7	-
Cash from Financing Activities	-0.3	-0.2	-0.1	0.0	0.0
Net Change in Cash	-3.5	1.9	3.3	0.0	0.7
Cash Interest Paid	0.0	0.0	0.0	0.0	0.0
Cash & Equivalent, Beginning of the Year	5.2	3.3	0.0	0.0	-0.6
Cash & Equivalent, End of the Year	1.8	5.2	3.3	0.0	0.0

Interim Cash Flows

As Reported

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	30-Jun-2011	31-Mar-2011	31-Dec-2010	30-Sep-2010	30-Jun-2010
Period Length	6 Months	3 Months	12 Months	9 Months	6 Months
UpdateType/Date	Updated Normal 30-Jun-2011	Updated Normal 31-Mar-2011	Updated Normal 31-Dec-2010	Updated Normal 30-Sep-2010	Updated Normal 30-Jun-2010
Filed Currency	OMR	OMR	OMR	OMR	OMR
Exchange Rate (Period Average)	0.385048	0.385072	0.385008	0.384987	0.384977
Net Income	-	-	-0.4	-	-
Depreciation	-	-	0.3	-	-
Cash from Operations	0.8	1.6	-3.0	0.1	-2.2
Interest Paid	0.0	0.0	0.0	0.0	-
Cash from Operating Activities	0.8	1.6	-3.1	0.1	-2.2
Net Cash used in Investing Activities	0.0	0.0	-0.1	-0.2	-0.2
Cash from Investing Activities	0.0	0.0	-0.1	-0.2	-0.2
Net Cash from Financing Activities	0.0	0.0	-0.3	-0.3	0.0
Cash from Financing Activities	0.0	0.0	-0.3	-0.3	0.0
Net Change in Cash	0.8	1.6	-3.5	-0.4	-2.4
Cash Interest Paid	-	0.0	0.0	0.0	0.0
Cash Taxes Paid	-	-	-	0.0	0.0
Cash & Cash Equivalent Brought/Forward	1.8	1.8	5.2	5.2	5.2
Cash & Cash Equivalent Carried/Forward	2.6	3.3	1.8	4.9	2.9

Bottom of Form

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.48.92
UK Pound	1	Rs.76.52
Euro	1	Rs.66.64

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.