MIRA INFORM REPORT

Report Date :

01.10.2011

IDENTIFICATION DETAILS

Name :	XSTRATA COAL SALES PTE. LIMITED

Registered Office :	8 Cross Street #11-00 Pwc Building Singapore 048424

Country :	Singapore

Date of Incorporation :	08.03.2011

Com. Reg. No.:	201105601G

Legal Form :	Private Limited Liability Company

Line of Business :	-----

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
----	NB	New Business	----

Status :	New Company

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)

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:	Xstrata Coal Sales Pte. Limited
Supplied Name:	Xstarta Coal Sales Pte Ltd.
Supplied Address:	8 Cross Strteet, no. 11-00 PWC Building Singapore 048424

Credit Summary

Credit Opinion:

Since we did not get contact with subject, subject’s operation information is not confirmed, thus we did not give the credit rating at this stage.

Special Notes

We did not find any contact information of subject according to the supplied name or the supplied address. From public files, we found that subject is engaged in distribution and trading of coal and related products, while it is not confirmed by subject.

Up to the date of reporting, we did not get contact with subject, if you kindly supply contact information of subject, we’d like to continue our investigation.

We found the registered information of subject from local registry, supplying as follows for reference.

Company Identification Details

Registered Name:	Xstrata Coal Sales Pte. Limited
Registered Address:	8 Cross Street #11-00 Pwc Building Singapore 048424
Date of Registration::	2011-3-8
Registered Number:	201105601G
Country of Incorporation:	Singapore
Registered Capital:	SGD 2,594,720 (USD 2,000,010) (As of 2011.09, 1 SGD = 0.7708 USD)
Paid-up Capital:	SGD 2,594,720 (USD 2,000,010) = 2,594,720 Shares@1 SGD
Legal Form:	Private Limited Liability Company
Staff:	4 Employees
Status:	Live Company
Listed at Stock Exchange:	No
Date of Last Annual Return:	2011-9-27

Notes: We obtain the staff number of subject from public files which is not confirmed by subject.

History

Subject was incorporated on 2011-3-8 with registered number 201105601G as Private Limited Liability Company in Singapore.

Shareholders

Unit: SGD

Name	Subscription Amount	Proportion of Investment (%)
Xstrata (Schweiz) Ag	200,001	10%
Xstrata Plc	1,800,009	90%
Total	2,000,010	100%

Major Shareholder Information:

1
Name:	Xstrata (Schweiz) Ag
Value:	USD 200,001
ID Number:	T05UF1592L
Address:	Bahnhofstrasse 2 Ch-6301 Zug, Switzerland
2
Name:	Xstrata Plc
Value:	USD 1,800,009
ID Number:	T11UF0956H
Address:	4th Floor, Panton House, 25/27 Haymarket, London Sw1y 4en, United Kingdom
Nationality:	United Kingdom

Subsidiaries & Branches

Subject did not register any subsidiaries or branches, from other source we can not obtain the relevant information, either.

Management Information

Core Management

Detailed Information of Management:

1
Name:	Peter Carl Freyberg
Position:	Director
ID Number:	761293309
Address:	6 Mitchell Road Darling Point Nsw 2027, Australia
Nationality:	British
Date of Appointment:	2011-3-8
2
Name:	Earl Ivan Melamed
Position:	Director
ID Number:	E4002032
Address:	1 Chris Bang Crescent Vaucluse Nsw 2030, Australia
Nationality:	Australian
Date of Appointment:	2011-3-8
3
Name:	Chan Lai Yin
Position:	Secretary
ID Number:	S7480587F
Address:	26 Simei Street 1 #11-08 Melville Park Singapore 529947
Nationality:	Singapore P.R.
Date of Appointment:	2011-4-19
4
Name:	Tan Ping Ping
Position:	Secretary
ID Number:	S7484709I
Address:	112 Lengkong Tiga #11-219 Singapore 410112
Nationality:	Singapore P.R.
Date of Appointment:	2011-4-19
5
Name:	Lee Wei Hsiung
Position:	Director
ID Number:	S7927166G
Address:	633 Jurong West Street 65 #10-310 Singapore 640633
Nationality:	Singapore Citizen
Date of Appointment:	2011-3-8

Operation Information

We did not get contact with subject; from public files, we found that subject is engaged in distribution and trading of coal and related products, while it is not confirmed by subject.

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.

Since we did not find subject, the financial information of subject is not available.

Bankers

No information was found from public files or the subject.

Auditors

Name:

Ernst & Young Llp

Public

Charges

No charge information was found from public files.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.48.93
UK Pound	1	Rs.76.52
Euro	1	Rs.66.65

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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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.