MIRA INFORM REPORT

Report Date :

17.09.2011

IDENTIFICATION DETAILS

Correct Name :	APOLLO HOLDINGS PVT LTD
Registered Office :	2Fl Marine Villa Varudhee Hingun, Maafannu, Male
Country :	Maldives
Date of Incorporation :	30.07.1998
Legal Form :	Private Company with Limited Liability
Line of Business :	Trader of Consumer 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

Maximum Credit Limit :	15,000 USD
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)
Maldives	c1	c1

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

REGISTERED NAME & COMPANY SUMMARY

Company Details

Organization Name	:	APOLLO HOLDINGS PVT LTD
Address	:	2Fl Marine Villa Varudhee Hingun, Maafannu, Male
Country	:	Maldives
Phone (S)	:	[+960]-3320065
Facsimile	:	[+960]-3335706
Email		apohol@dhivehinet.net.mv
Primary Business Activity		Trader
Key Industry		Consumer Products

Key Facts

Registered Legal Address		:	2Fl Marine Villa Varudhee Hingun, Maafannu, Male
Operational Address		:	2Fl Marine Villa Varudhee Hingun, Maafannu, Male
Issuing Authority			Ministry of Trade & Industries
License Number		:	C-0129/1998
Legal Form		:	Private Company with Limited Liability
Operational Status of Business		:	Normal
Date of Registration			30 Jul, 1998
Employees			20
Capital			n/a
	Report Details

Country	:	Maldives
Business Entity Name	:	APOLLO HOLDINGS PVT LTD
Primary Business Activity	:	Trader
Primary Industry	:	Consumer Products
Office Contact Details
Operating Address	:	2Fl Marine Villa Varudhee Hingun, Maafannu, Male
Tel	:	[+960]-3320065
Fax	:	[+960]-3335706
Email	:	apohol@dhivehinet.net.mv

CREDIT RECOMENDATION

Credit Limit: 15,000 USD

DIRECTORS/MANAGEMENT

COMPANY MANAGEMENT

Management Listings

	Name	Nationality	Job Description	Dept. / Division
1	Mr. Mujey Mohamed	Maldivian	Manager	Procurement
2	Mr. Dharma Ponnampalam	Maldivian	Manager	Business
3	Mr. Mohamed Waheed	Maldivian	Chief Operating Officer - COO	-

Management Details - 1

Personal Unique Identifier	:	MI02987308
Name	:	Mr. Mujey Mohamed

Management Details - 2

Personal Unique Identifier	:	MI02481265
Name	:	Mr. Dharma Ponnampalam

Management Details - 3

Personal Unique Identifier	:	MI02481264
Name	:	Mr. Mohamed Waheed

COMPANY DIRECTORS

1
Personal Unique Identifier	:	MI02481263
Name	:	Mr. Ahmed Arif
Nationality	:	Maldivian
2
Personal Unique Identifier	:	MI02481264
Name	:	Mr. Mohamed Waheed
Nationality	:	Maldivian

Based on corporate statutory laws /regulations in Maldives, there is no requirement for public disclosure of Director. In this case, the Director information was supplied by the Subject Business Entity.
However in the absence of data normally obtained from local Statutory Authorities, it is not possible to verify the accuracy of data supplied and hence is provided as reference ONLY.

NEGATIVE INFORMATION

ADVERSE DATA MONITORING

DISHONORED CHECKS

No Record Found

DEBT	No Record Found

LITIGATION

No Record Found

PERFORMANCE DEFAULTS

No Record Found

ADVERSE LOCAL MEDIA COVERAGE / ADVERSE FILING HISTORY

No Record Found

SHARE & SHARE CAPITAL INFORMATION

SHAREHOLDERS

Total number of shareholders	:	2
Total number of shares	:	n/a

No.	Shareholders	Country	Shares
			Number	Amount	%
1	Mr. Ahmed Arif	Maldives	n/a	n/a	n/a
2	Mr. Mohamed Waheed	Maldives	n/a	n/a	n/a
Total			n/a	n/a	n/a

Based on corporate statutory laws /regulations in Maldives, there is no requirement for public disclosure of Shareholders. In this case, the Shareholder information was supplied by the Subject Business Entity.
However in the absence of data normally obtained from local Statutory Authorities, it is not possible to verify the accuracy of data supplied and hence is provided as reference ONLY.

PAYMENT INFORMATION

PAYMENT TERMS

Selling

Type	Terms
Local	Cash on delivery (COD) Credit - Unsecured 30~60 days
Export	Letter of Credit (At-sight) Telegraphic Transfer (T/T) - Received at time of transaction

Purchasing

Type	Terms
Local	Cash on delivery (COD) Credit - Unsecured 30~60 days
Import	Letter of Credit (At-sight) Telegraphic Transfer (T/T) - Executed at time of transaction

GROUP STRUCTURE & AFFILIATED COMPANIES

Na

FINANCIAL INFORMATION

FINANCIAL STATEMENT - DETAILED

Based on the corporate laws of Maldives, legal entities which are Private Company with Limited Liability are not required to make public disclosure of their annual financials. Therefore no financials are available for this entity.

FOREIGN EXCHANGE RATES

Na

ADDITIONAL INFORMATION

SIC PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description	Code	Activity
Construction Materials, NEC	5039	Trading
Food products, dried and dehydrated	2034	Trading
Food products, nspf	2099	Trading
Fresh Fruits & Vegetables	5148	Trading
Furniture and fixtures, nspf	2599	Trading
Groceries, General Line	5141	Trading
Groceries/Related Prdts, NEC	5149	Trading
Manufactured articles, nspf	3999	Trading
Miscellaneous marine products, nspf	0919	Trading
Motorcycles, bicycles, and parts, nspf	3751	Trading

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description	Code	Activity
Bicycles & other cycles (inc del tricycle) no motor	8712	Trading
Building materials of asbestos fibers	6812900025	Trading
Dairy, eggs, honey, & ed. products	0400	Trading
Depilatories and other perfumery, cosmetic or toilet preparations	3307900000	Trading
Food preparations	2106	Trading
Furniture nesoi and parts thereof	9403	Trading
Miscellaneous manufactured articles	9600	Trading
Motorcycles (incl mopeds) & cycles with aux motor	8711	Trading
Oils & resinoids, perfumery, cosmetic or toilet preparations	3300	Trading
Onions, shallots, garlic, leeks etc, fr or chilled	0703	Trading

DETAILED PRODUCT CLASSIFICATION & ACTIVITY

Products / Materials / Services Description	Ranking	Activity
Fiberglass	Primary	Trading
Food products	Primary	Trading
Furniture	Primary	Trading
General merchandise	Primary	Trading
Household items	Primary	Trading
Motorcycles	Primary	Trading
Onions	Primary	Trading
Potatoes	Primary	Trading
Toiletries	Primary	Trading

CORE BUSINESS DESCRIPTION

Core Business

The primary business focus of APOLLO HOLDINGS PVT LTD is:

General trading

Supplementary Business

In addition to the core business, APOLLO HOLDINGS PVT LTD also is engaged in the following areas of business:

Exporting

Exporting - Finished products

Importing

Importing - Finished products

DOMESTIC SALES & PURCHASES

Annual Sales Analysis	Percentage
Domestic Sales	70%
International Sales (Export)	30%

Annual Purchases Analysis	Percentage
Local Purchases	80%
Imports	20%

REPUTATION

Reference checking for the purpose of establishing the APOLLO HOLDINGS PVT LTD's reputation within the respective industry failed to reveal any adverse information.

NOTES & COMMENTS

Na

Bottom of Form

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.47.47
UK Pound	1	Rs.74.96
Euro	1	Rs.65.79

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.