MIRA INFORM REPORT

Report Date :

14.09.2011

IDENTIFICATION DETAILS

Correct Name :	MAGDOMIR LIMITED LIABILITY COMPANY
Registered Office :	Leningradskiy prosp., 72, bldg. 4, Moscow, 125315
Country :	Russia
Financials (as on) :	01.01.2011
Date of Incorporation :	02.04.2007
Com. Reg. No.:	5077746447851
Legal Form :	Limited Liability Company
Line of Business :	Wholesale trade in packaging materials and food components

RATING & COMMENTS

MIRA’s Rating :

B

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	10 000 USD
Status :	Moderate
Payment Behaviour :	---
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)
Russia	a2	a2

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

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Comments

Information

The address mentioned in your inquiry belongs to the company Obschestvo s ogranichennoy otvetstvennostyu "MAGDOMIR" (name in English: "MAGDOMIR" LIMITED LIABILITY COMPANY). We provide the report on this company.

Summary

Original Name	Obschestvo s ogranichennoy otvetstvennostyu "MAGDOMIR"
Legal Form	OOO (Limited Liability Company by Russian Law)
Year of Foundation	2007
Sales	136 078 th RUR for 12 months, ended 01.01.2011
Employees	14 on September, 12, 2011 (company's data)

Creditline Recommendations

Credit Limit

10 000 USD

Company Identification Details

Original Name	Obschestvo s ogranichennoy otvetstvennostyu "MAGDOMIR"
Short Name	OOO "MAGDOMIR"
Name in English	"MAGDOMIR" LIMITED LIABILITY COMPANY
Address	Leningradskiy prosp., 72, bldg. 4, office 808, Moscow, 125315, Russian Federation
Post Address	post box 3, Moscow, 125190, Russian Federation
Legal Address	Leningradskiy prosp., 72, bldg. 4, Moscow, 125315, Russian Federation
Phone	+7 (495) 6411706, 6411707, 7886280
Fax	+7 (495) 6411706, 6411707, 7886280
E-mail	vltr2003@yahoo.com info@magdomir.ru
WEB Address	www.magdomir.ru
History	02.09.2010: Legal Address changed from Leningradskiy prosp., 80, bldg. G, office 1Y, office 16, Moscow, 125315, Russian Federation 19.03.2010: Legal Address changed from Leningradskiy prosp., 80, bldg. G, Moscow, 125315, Russian Federation

Official Company Data

Legal Form	OOO (Limited Liability Company by Russian Law)
Date of Registration	02.04.2007
Registration Number	5077746447851
Statistic Code (OKPO)	80703632
Taxpayer Code (INN)	7743637681
Registration Authority	Federal Tax Service of Russian Federation Interregional Inspection N 46 within Moscow

Public Record Information

Information

The company Obschestvo s ogranichennoy otvetstvennostyu "MAGDOMIR" was not included in the published list of bankrupt companies.

Share Capital

Current Share Capital

10 000 RUR

Shareholders

Total	2 private persons
Shareholder	Mr Kuznetsov Andrey Nikolaevich
Nationality	Russian Federation
Taxpayer Code (INN)	772807385187
Share	90 %
Shareholder	Mr Nabokin Viktor Nikolaevich
Nationality	Russian Federation
Share	10 %

Directors

Director	Mr Kuznetsov Andrey Nikolaevich
	Signature Right
Nationality	Russian Federation
Taxpayer Code (INN)	772807385187

Re-Registration Data

Date of Registration	02.04.2007
	(Entering into the Single State Register of Legal Entities)
Registration Number	5077746447851
Registration Authority	Federal Tax Service of Russian Federation Interregional Inspection N 46 within Moscow
Date of Re-registration	24.06.2008
File Number	2087756920194
Registration Authority	Federal Tax Service of Russian Federation, Interregional Inspection N 46 within Moscow
Changes	Shareholders
Date of Re-registration	28.12.2009
File Number	9097748083490
Registration Authority	Federal Tax Service of Russian Federation
Changes	Company's Rules
Date of Re-registration	19.03.2010
File Number	8107746551498
Registration Authority	Federal Tax Service of Russian Federation
Changes	Legal Address
Date of Re-registration	02.09.2010
File Number	2107748869556
Registration Authority	Federal Tax Service of Russian Federation
Changes	Legal Address

Operations

Activities	Wholesale trade in packaging materials and food components.
Staff Employed	14 on September, 12, 2011 (company's data)
Employees' History	10 on October, 30, 2008 (company's data) 5 on July, 18, 2007 (company's data)

Real Estate

Own	none
Rent	Office Address: Leningradskiy prosp., 72, bldg. 4, office 808, Moscow, 125315, Russian Federation (company's data) Warehouse Address: Ryabinovaya str., 63, Moscow, 121471, Russian Federation (company's data)

Export & Import

Export Countries	2007-2010, for 2 months 2011: No Export Activity
Exported Goods	none
Export Value	none
Import Countries	for 2 months 2011: China, Germany 2007-2010: China
Imported Goods	paper, aluminium foil, foodstuff, chemical products
Import Value	for 2 months 2011: 456 442 USD in 2010: 2 362 626 USD in 2009: 2 262 880 USD in 2008: 1 502 494 USD in 2007: 1 359 783 USD

Branches

Branch

Vladivostok branch Address: Krasnogo Znameni str., 3, Vladivostok, Primorsk Region, 690106, Russian Federation Tel: +7 (4232) 468351

Participation

Information

None

Related Companies

Information

Mr Kuznetsov Andrey Nikolaevich is also the shareholder of companies: OOO "KANTINA" Registration number: 1057746448231 OOO "ATK-PROFIT" Registration number: 1027739478920 OOO "INTERFEK" Registration number: 1037700245901 Mr Nabokin Viktor Nikolaevich isn't a shareholder or a director of any other companies of Russian Federation.

Bankers

Bank	OAO "GUTA-BANK" (Russian Federation)

Financial Data

Profit and Loss (extract)

The following figures are shown in units of 1000

Period, months	12	12	12
Ended	01.01.2011	01.01.2010	01.01.2009
Currency	RUR	RUR	RUR
SALES	136078	112027	67355
Cost of Goods sold	114911	95216	59623
GROSS PROFIT	21167	16811	7732
Distribution Costs	15881	7890	17443
Management Costs
OPERATING PROFIT	5286	8921	-9711
Non Trading Income	-1611	-13756	-7130
PRE TAX PROFIT	3675	-4835	-16841
Taxation
PROFIT AFTER TAX	3481	-4890	-16841

Balance Sheet (extract)

The following figures are shown in units of 1000

As at	01.01.2011	01.01.2010	01.01.2009
Currency	RUR	RUR	RUR
TOTAL FIXED ASSETS	736	857	902
Intangible Assets	42
Fixed Assets	694	821	876
TOTAL CURRENT ASSETS	58987	60063	49546
Stock	39790	36013	28271
Trade debtors	17346	23664	20278
Cash	1549	186	795
TOTAL ASSETS	59723	60920	50448
TOTAL EQUITY	-29101	-32582	-27691
Share Capital	10	10	10
Retained Profits	-29111	-32592	-27701
TOTAL LONG TERM LIABS
Long Term Loans
TOTAL CURRENT LIABILITIES	88824	93502	78138
Short Term Loans	56359	60980	50593
Short Term Trade Creditors	32465	32523	27545
TOTAL EQUITY & LIABILITIES	59723	60920	50447

Key Credit Ratios

The following figures are shown as Ratios or Percentages

Accounts Date	01.01.2011	01.01.2010	01.01.2009
Current Ratio	0,66	0,64	0,63
Working Capital, x1000 RUR	-29837	-33439	-28592
Quick Ratio	0,22	0,26	0,27
Debt to Equity Ratio	-3,05	-2,87	-2,82
Current Assets Turnover	2,31	1,87	1,36
Total Assets Turnover Ratio	2,28	1,84	1,34
Pre Tax Profit Margin, %	2,7	-4,32	-25
Gross Profit, %	15,56	15,01	11,48
Return on Investment, %	-12,63	14,84	60,82
Return on Assets, %	6,15	-7,94	-33,38

Clients & Suppliers

Suppliers

INTERNATIONAL PAPER SUN CARTONBOARD CO., LTD. (China) GOLD EAST PAPER (JIANGSU) CO., LTD. (China) SHANGHAI SHENHOO ALUMINIUM FOIL CO., LTD. (China) SUNMA (HONG KONG) PAPER AND PULP CO., LTD. (Hong Kong) FUJIAN PROVINCE GUANG FU TEA CO., LTD. (China) HALSSEN GMBH (Germany) *** The names of foreign partners may be pointed incorrectly as in official documents (declarations) they’re written in Russian. We present our apologies for possible mistakes in transliteration.

Actions at law

According to Arbitration court of Moscow judicial claims of the company are not registered.

Original Financial Data

(Russian Accounting Report in English)

Balance Sheet

The following figures are shown in units of 1000

ASSETS	Line code	as at 01.01.2009	as at 01.01.2010	as at 01.01.2011
I. NON-CURRENT ASSETS
Intangible assets	110	-	-	42
Fixed assets	120	876	821	694
Construction in progress	130	-	-	-
Income-bearing investments in tangible assets	135	-	-	-
Long-term financial investments	140	-	-	-
Deferred tax assets	145	-	-	-
Other non-current assets	150	26	36	-
Total section I	190	902	857	736
II. CURRENT ASSETS
Inventories	210	28271	36013	39790
including :
raw materials and other inventories	211	113	74	39
livestock	212	-	-	-
work in progress	213	-	-	-
finished goods and goods for resale	214	28131	35881	39461
goods dispatched	215	-	-	-
expenses related to future periods	216	27	58	290
other supplies and expenditures	217	-	-	-
Value added tax on purchased goods	220	2	-	3
Accounts receivable (payments expected beyond 12 months after the reporting date)	230	-	-	-
including :
buyers and customers	231	-	-	-
Accounts receivable (payments expected within 12 months after the reporting date)	240	20278	23664	17346
including :
buyers and customers	241	7465	7967	12565
Short-term investments	250	200	200	300
Monetary assets	260	795	186	1549
Other current assets	270	-	-	-
Total section II	290	49546	60063	58987
TOTAL SECTIONS I and II	300	50448	60920	59723
EQUITY AND LIABILITIES
III. EQUITY AND RESERVES
Share capital	410	10	10	10
Treasury shares	411	-	-	-
Additional capital	420	-	-	-
Legal reserve	430	-	-	-
including :
reserves and provisions formed in  accordance with legislation	431	-	-	-
reserves formed in accordance  with foundation documents	432	-	-	-
Retained earnings (loss)	470	-27701	-32592	-29111
Total section III	490	-27691	-32582	-29101
IV. NON-CURRENT LIABILITIES
Borrowings	510	-	-	-
Deferred tax liabilities	515	-	-	-
Other non-current liabilities	520	-	-	-
Total section IV	590	-	-	-
V. CURRENT LIABILITIES
Borrowings	610	50593	60980	56359
Accounts payable	620	27545	32523	32465
including :
suppliers and contractors	621	24201	27342	30181
salaries payable	622	25	87	91
payable to state non-budget funds	623	1	25	48
taxes payable	624	13	25	20
other creditors	625	3305	5043	2125
Dividends payable to participants (shareholders)	630	-	-	-
Income of future periods	640	-	-	-
Reserves for future expenses and payments	650	-	-	-
Other current liabilities	660	-	-	-
Total section V	690	78138	93502	88824
TOTAL SECTIONS III,IV,V	700	50447	60920	59723

PROFIT AND LOSS ACCOUNT

The following figures are shown in units of 1000

PARAMETER	Line code	01.01.2011	01.01.2010	01.01.2009
INCOME FROM AND EXPENSES ON ORDINARY ACTIVITIES
Sale of goods, products, work, services (less VAT, excise tax, other similar mandatory payments)	010	136078	112027	67355
Cost of goods, products, work, services sold	020	114911	95216	59623
Gross profit	029	21167	16811	7732
Selling expenses	030	15881	7890	17443
Administrative expenses	040	-	-	-
Profit (loss) from operations	050	5286	8921	-9711
OTHER INCOME AND EXPENSES
Interest income	060	-	-	-
Interest expenses	070	4487	11412	720
Income from investments in other companies	080	-	-	-
Other operating income	090	11987	7580	1023
Other operating expenses	100	9111	9924	7433
Non-operating income	120	-	-	-
Non-operating expenses	130	-	-	-
Profit (loss) before profit tax	140	3675	-4835	-16841
Deferred tax assets	141	-	-	-
Deferred tax liabilities	142	-	-	-
Current profit tax	150	-	-	-
Net profit (loss) for the reporting period	190	3481	-4890	-16841

Rates of Exchange

RUR - Russian Rouble	01.01.2011:    1 EUR = 40.49 RUR,   1 USD = 30.35 RUR
EUR - EURO	01.01.2010:    1 EUR = 43.46 RUR,   1 USD = 30.19 RUR
USD - US Dollar	01.01.2009:    1 EUR = 41.43 RUR,   1 USD = 29.39 RUR

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.47.10
UK Pound	1	Rs.74.64
Euro	1	Rs.64.42

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.