MIRA INFORM REPORT

Report Date :

15.09.2011

IDENTIFICATION DETAILS

Name :	SHABRO INTERNATIONAL PTE. LTD.

Registered Office :	1 North Bridge Road #19-04/05 High Street Centre Singapore 179094

Country :	Singapore

Date of Incorporation :	16.06.2011

Com. Reg. No.:	201114328G

Legal Form :	Private Limited Liability Company

Line of Business :	----

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended

Status :	Poor

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:	Shabro International Pte. Ltd.
Supplied Name:	Shabro International Pte Ltd.
Supplied Address:	1, North Bridge Road, 19-4-5 Hi Street Centre, Singapore

Credit Summary

Credit Rating:	N/A
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.

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:	Shabro International Pte. Ltd.
Registered Address:	1 North Bridge Road #19-04/05 High Street Centre Singapore 179094
Date of Registration::	2011-6-16
Registered Number:	201114328G
Country of Incorporation:	Singapore
Registered Capital:	SGD 1 (USD 0.8020) (As of 2011.09, 1 SGD = 0.8020 USD)
Paid-up Capital:	SGD 1 (USD 0.8020) = 1 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:	2011-9-9

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

History

Subject was incorporated on 2011-6-16 with registered number 201114328G as Private Limited Liability Company in Singapore.

Shareholders

Unit: SGD

Name	Subscription Amount	Proportion of Investment (%)
Shabro Metals & Technologies Limited	1	100%
Total	1	100%

Major Shareholder Information:

1
Name:	Shabro Metals & Technologies Limited
Value:	SGD 1
ID Number:	T11UF2430E
Address:	C-23, Friends Colony (East), Mathura Road New Delhi, India 110065
Nationality:	India

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:	Akhil Jain
Position:	Director
ID Number:	H4449079
Address:	128 Kishan Kunj, Main Laxmi Nagar New Delhi 110092, India
Nationality:	Indian
Date of Appointment:	2011-6-16
2
Name:	Ashutosh Agrawal
Position:	Director
ID Number:	H8082767
Address:	39 B Una Enclave, Mayur Vihar-I New Delhi-110091, India
Nationality:	Indian
Date of Appointment:	2011-6-16
3
Name:	Vangal Rangarajan Ranganathan
Position:	Director
ID Number:	S2662860A
Address:	207 Serangoon Central #11-198 Singapore 550207
Nationality:	Singapore Citizen
Date of Appointment:	2011-6-16
4
Name:	Vangal Rangarajan Ranganathan
Position:	Secretary
ID Number:	S2662860A
Address:	207 Serangoon Central #11-198 Singapore 550207
Nationality:	Singapore Citizen
Date of Appointment:	2011-6-16

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:

Natarajan & Swaminathan

Public

Charges

No information was found from public files or the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.47.81
UK Pound	1	Rs.75.16
Euro	1	Rs.65.11

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.