MIRA INFORM REPORT

Report Date :

11.10.2011

IDENTIFICATION DETAILS

Name :	AADIL TEXTILES PTE LTD

Registered Office :	77 High Street 09-02 High Street Plaza Singapore 179443

Country :	Singapore

Date of Incorporation :	22.07.1988

Com. Reg. No.:	198802471W

Legal Form :	Private Limited Liability Company

Line of Business :	Wholesale of fabrics on a fee contract basis

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 10,000
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 – 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:	Aadil Textiles Pte Ltd
Supplied Name:	Aadil Textile Pte Ltd.
Trading Address:	77 High Street 09-02 High Street Plaza Singapore 179443
Supplied Address:	77 High Street 09-02 High Street Plaza Singapore 179443
Telephone Number:	+65-63391183
Fax Number:	+65-63397059
E-mail:	aadil@singnet.com.sg

Credit Summary

Credit Rating:	Maximum credit USD 10,000
Credit Opinion:	Business connections are permissible.

Company Identification Details

Registered Name:	Aadil Textiles Pte Ltd
Registered Address:	77 High Street 09-02 High Street Plaza Singapore 179443
Date of Registration::	1988-07-22
Registered Number:	198802471W
Country of Incorporation:	Singapore
Registered Capital:	SGD 1,000,000.00 (USD 778,250.00) (As of 2011.10, 1 SGD = 0.77825 USD)
Paid-up Capital:	SGD 1,000,000.00 (USD 778,250.00)
Legal Form:	Private Limited Liability Company
Principal Activities:	Wholesale of fabrics on a fee contract basis
Staff:	3 Employees
Status:	Live company
Listed at Stock Exchange:	No
Date of Last Annual Return:	2010-05-27

History

Subject was incorporated on 1988-07-22 with registered number as Private Limited Liability Company in Singapore.

Shareholders

Unit: SGD

Name	Subscription Amount	Proportion of Investment (%)
Abdul Razzak Osman	699,998	69.9%
The Estate Of Assandas S/O Hardasmal Sanmukhdas	1	0.1%
Raj Kumar Assandas	50,003	5%
Osman Mohamed Sabeer	249,998	25%
Total	1,000,000	100%

Major Shareholder Information:

1
Name:	Abdul Razzak Osman
Value:	SGD 699, 998
ID Number:	N2479959
Address:	145/5 Park Road, Colombo-5, Sri Lanka
Nationality:	Sri Lankan
2
Name:	The Estate Of Assandas S/O Hardasmal Sanmukhdas
Value:	SGD 1
ID Number:	RCB0090595
Address:	406 Bedok North Avenue 3 #11-187 Singapore 460406
Nationality:	Singapore Citizen
3
Name:	Raj Kumar Assandas
Value:	SGD 50,003
ID Number:	S1810825I
Address:	32 Bedok South Avenue 2 #18-309 Singapore 460032
Nationality:	Singapore Citizen
4
Name:	Osman Mohamed Sabeer
Value:	SGD 249,998
ID Number:	S2658786G
Address:	246 Loyang Rise Singapore 507355
Nationality:	Singapore Citizen

Management Information

Core Management

Detailed Information of Management:

1
Name:	Mohamed Aasif Mohamed Rasheed
Position:	Director
ID Number:	N1707744
Address:	Level 436-440 Galle Road, Colombo 3, Ri Lanka
Nationality:	Sri Lankan
Date of Appointment:	2005-11-30
2
Name:	Abdul Razzak Osman
Position:	Director
ID Number:	N2479959
Address:	145/5 Park Road, Colombo-5, Sri Lanka
Nationality:	Sri Lankan
Date of Appointment:	1995-02-10
3
Name:	Raj Kumar Assandas
Position:	Director
ID Number:	S1810825I
Address:	32 Bedok South Avenue 2, #18-309, Singapore 460032
Nationality:	Singapore Citizen
Date of Appointment:	1993-05-21
4
Name:	Osman Mohamed Sabeer
Position:	Director
ID Number:	S2658786G
Address:	246 Loyang Rise, Singapore 507355
Nationality:	Singapore Citizen
Date of Appointment:	1988-07-22
5
Name:	Pasuvathi D/O Veerasamy Subramaniam
Position:	Secretary
ID Number:	S0177406I
Address:	564 Pasir Ris Street 51, #03-140, Singapore 510564
Nationality:	Singapore Citizen
Date of Appointment:	2007-05-15

Operation Information

Purchase

l The subject imports fabrics from China.

Products	Original area
Raw materials	China

Sales Information

l The subject is a trader of fabrics.

l The subject exports to Silinlanka.

Settlements

Purchase

Domestic Markets

The subject seldom purchases from domestic markets.

Overseas Markets

Products	Payment Terms	Proportion
Fabrics	CBD, etc	100%

Sales

Domestic Markets

The subject seldom sells in domestic markets.

Overseas Markets

Product	Sales Terms	Proportion
Fabrics	L/C	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.

Since the subject declined to disclose any information, the information of financial is not available.

Auditors

Name:

Rama & Co

Public

Charges

Charge 1
Charge Number:	200100017
Date of Registration:	2001-01-03
Name:	Standard Chartered Bank
Amount Secured:	All Monies
Charge 2
Charge Number:	C200401729
Date of Registration:	2004-04-05
Name:	Standard Chartered Bank
Amount Secured:	All Monies
Charge 3
Charge Number:	C200706282
Date of Registration:	2007-08-03
Name:	Australia And New Zealand Banking Group Limited
Amount Secured:	All Monies
Charge 4
Charge Number:	C201005272
Date of Registration:	2010-06-24
Name:	Dbs Bank Ltd.
Amount Secured:	All Monies

Interview Details

Position:

Director of company

Notes: The man who answered the phone refused to introduce his name.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.49.07
UK Pound	1	Rs.76.65
Euro	1	Rs.66.17

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.