MIRA INFORM REPORT

Report Date :

22.09.2011

IDENTIFICATION DETAILS

Correct Name :	ZAKRYTOE AKTSYONERNOE OBSCHESTVO ORIMI TREYD
Registered Office :	Tobol'skaya str., 3, St.-Petersburg, 194044
Country :	Russia
Financials (as on) :	01.01.2010
Date of Incorporation :	23.12.2002
Com. Reg. No.:	1027802514541
Legal Form :	Private Joint Stock Company
Line of Business :	Manufacture and sales of tea and coffee.

RATING & COMMENTS

MIRA’s Rating :

Ba

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	150 000 USD
Status :	Satisfactory
Payment Behaviour :	Usually Correct
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

Comments

Information

The address mentioned in your inquiry belongs to the company Zakrytoe aktsyonernoe obschestvo "ORIMI TREYD" (name in English: "ORIMI TRADE" PRIVATE JOINT STOCK COMPANY). We provide the report on this company.

Summary

Original Name	Zakrytoe aktsyonernoe obschestvo "ORIMI TREYD"
Legal Form	ZAO (Private Joint Stock Company by Russian Law)
Year of Foundation	1994
Sales	7 296 203 th RUR for 12 months, ended 01.01.2010
Employees	200 (approx.) on April, 26, 2011 (company's data)

Creditline Recommendations

Credit Limit

150 000 USD

Company Identification Details

Original Name	Zakrytoe aktsyonernoe obschestvo "ORIMI TREYD"
Short Name	ZAO "ORIMI TREYD"
Name in English	"ORIMI TRADE" PRIVATE JOINT STOCK COMPANY
Address	Tobol'skaya str., 3, St.-Petersburg, 194044, Russian Federation
Legal Address	Tobol'skaya str., 3, St.-Petersburg, 194044, Russian Federation
Phone	+7 (812) 3468240, 5423795, 3471092, 5426463, 3271085
Fax	+7 (812) 3468240, 5421501
E-mail	mail@orimitrade.ru
WEB Address	www.orimitrade.ru
History	30.09.2005: Legal Address changed from Favorskogo str., 12, St.-Petersburg, 195220, Russian Federation

Official Company Data

Legal Form	ZAO (Private Joint Stock Company by Russian Law)
Date of Registration	23.12.2002
Registration Number	1027802514541
Statistic Code (OKPO)	39420178
Taxpayer Code (INN)	7804045886
Registration Authority	Ministry for Taxes and Duties of Russian Federation Inspection within Kalininskiy District of St.-Petersburg

Public Record Information

Information

The company Zakrytoe aktsyonernoe obschestvo "ORIMI TREYD" was not included in the published list of bankrupt companies.

Share Capital

Current Share Capital

30 000 RUR

Shareholders

Total	1 legal person and 3 private persons incl.
Shareholder	FIRM "YOLART.INC"
Address	USA
Share	14 %
Shareholder	3 private persons
Nationality	Russian Federation
Share	86 %
Comments	The information on the shareholders of the company is presented on 01.08.2006: According to Russian legislation the information on change of shareholders of companies with the legal status joint-stock company isn’t included in the Single State Register of Legal Entities of Russian Federation. Data on change of shareholders of company (if the company has a status joint-stock company) are reflected in register of shareholders which is conducted either by the company itself or by independent specific company – register holder. According to Russian legislation to get an extract about the composition of shareholders at current situation from the register of shareholders it’s necessary to be a shareholder of this company (to have no less than 1 % of its share). The inquired company isn’t public corporation (the shares of the company aren’t presented on the exchange), that’s why the company doesn’t publish quarterly reports about the composition of shareholders. Therefore current composition of company’s shareholders may differ from ours one in the report. The names of foreign shareholders of the company may be pointed incorrectly as in official documents (extracts from register) they’re written in Russian by cyrillic letters. We present our apologies for possible mistakes in transliteration.

Directors

Director	Mr Kas'yanenko Sergey Vasil'evich
	Signature Right
Nationality	Russian Federation
Address	Nalichnaya str., 19, ap. 98, St.-Petersburg, 199406, Russian Federation
Date of Birth	22.11.1957
Taxpayer Code (INN)	780105058505

Re-Registration Data

Initial Registration	12.10.1994
Registration Number	AOL-8138
Registration Authority	Register Chamber of St.-Petersburg
Date of Registration	23.12.2002
	(Entering into the Single State Register of Legal Entities)
Registration Number	1027802514541
Registration Authority	Ministry for Taxes and Duties of Russian Federation Inspection within Kalininskiy District of St.-Petersburg
Date of Re-registration	30.09.2005
File Number	2057812491152
Registration Authority	Federal Tax Service of Russian Federation
Changes	Legal Address

Operations

Activities	Manufacture and sales of tea and coffee. The company sells tea under brands Princess NOORI, Princess KANDY, Princess GITA, Princess JAVA and coffee under brands Jockey, Regal, Monsignor and Magic Plantation. The company operates under trading name ORIMI TRADE.
Staff Employed	200 (approx.) on April, 26, 2011 (company's data)
Employees' History	200 (approx.) on April, 13, 2011 (company's data) 200 (approx.) on March, 03, 2011 (company's data) 100 (approx.) on July, 07, 2010 (company's data) 70 (approx.) on December, 30, 2009 (company's data) 50 (approx.) on August, 14, 2009 (company's data) 50 (approx.) on July, 06, 2009 (company's data) 50 (approx.) on April, 14, 2009 (company's data) 50 (approx.) on July, 03, 2008 (company's data) 50 (approx.) on October, 28, 2007 (company's data) 50 (approx.) on August, 27, 2007 (company's data) 40 on May, 17, 2006 (company's data)

Real Estate

Own	none
Rent	Office Address: Tobol'skaya str., 3, St.-Petersburg, 194044, Russian Federation (company's data) Industrial area, warehouse Address: im. Sverdlova poselok, microdistrict 1, Sivolozhskiy District, Leningrad Region, Russian Federation (company's data)

Export & Import

Export Countries	2004: Moldavia, Latvia
Exported Goods	coffee, tea, souvenirs with brands
Export Value	for 10 months 2010: none in 2005-2009: none in 2004: 3 940 375 RUR
Import Countries	for 10 months 2010: India, Sri Lanka, China, Germany, Kenya, Indonesia, Vietnam, Brazil, Ethiopia, Papua-New Guinea, Spain, Mexico, Ecuador, Nigeria, Great Britain, Uganda, Guatemala, Kirghizia, Cot-d'ivuar, Chile, Egypt, Bolivia, Colombia, Japan, Burundi, Peru, Lithuania, Poland, Switzerland, Republic of South Africa, Slovakia, Nicaragua, Estonia, Latvia, Thailand, Belgium, Paraguay, the Netherlands, Argentina, Iran, Morocco 2009: India, Sri Lanka, China, Kenya, Indonesia, Brazil, Germany, Vietnam, Ethiopia, Lithuania, Papua-New Guinea, Great Britain, Uganda, Poland, Nigeria, Cameroon, Estonia, Mexico, Chile, Nicaragua, Ecuador, Colombia, Burundi, Switzerland, Guatemala, Egypt, Bolivia, Kirghizia, Sudan, Republic of South Africa, Thailand, Latvia, Paraguay, France, Netherlands 2004-2008: Germany, Kenya, China, Switzerland, Vietnam, Indonesia, Estonia, India, Argentina, Brazil, Poland, Nigeria, Great Britain, Lithuania, Turkey, Republic of South Africa, Sri Lanka, Papua New Guinea, Burundi, Ethiopia and other countries.
Imported Goods	coffee, tea, glass jars, cardboard packings
Import Value	for 10 months 2010: 183 491 232 USD in 2009: 208 354 443 USD in 2008: 196 679 153 USD in 2007: 149 846 162 USD in 2006: 91 403 751 USD in 2005: 2 759 753 661 RUR in 2004: 1 619 790 628 RUR

Branches

Branch

None

Participation

Information

OOO "KARAVAN" Registration number: 1027802514552 Share: 100 % OOO "REGION-ORM" Registration number: 1034700584600 Share: 100 % OOO "ORIMI TSENTR" Registration number: 1107847305719 Share: 100 % OAO "ANTIKOR-PROEKT" Address: St.-Petersburg, Russian Federation Share: 15 %

Related Companies

Information

The company FIRM "YOLART.INC" isn't a shareholder of any other companies in Russian Federation.

Bankers

Bank	OAO "MEZHDUNARODNYY BANK SANKT-PETERBURGA", bank code: 044030760 (Russian Federation)
Account(s)	40702810400000008087 (RUR)
Bank	OAO "BANK VTB", bank code: 044030704 (Russian Federation)
Account(s)	40702810413000001237 (RUR)
Bank	OAO BANK "TAVRICHESKIY", bank code: 044030877 (Russian Federation)
Account(s)	40702810500000004322 (RUR)

Financial Data

Profit and Loss (extract)

The following figures are shown in units of 1000

Period, months	12	12	12
Ended	01.01.2010	01.01.2009	01.01.2008
Currency	RUR	RUR	RUR
SALES	7296203	5423129	4394081
Cost of Goods sold	7109050	5243285	4264527
GROSS PROFIT	187153	179844	129554
Distribution Costs	65751	82659	62505
Management Costs
OPERATING PROFIT	121402	97185	67049
Non Trading Income	816895	26374	82634
PRE TAX PROFIT	267655	123559	149683
Taxation	53646	30553	36106
PROFIT AFTER TAX	214009	93006	113577

Balance Sheet (extract)

The following figures are shown in units of 1000

As at	01.01.2010	01.01.2009	01.01.2008
Currency	RUR	RUR	RUR
TOTAL FIXED ASSETS	211951	181523	17874
Intangible Assets	2761	3246	3650
Fixed Assets	253	307	314
TOTAL CURRENT ASSETS	2303468	452383	739893
Stock	114074	100592	76228
Trade debtors	738547	245700	643098
Cash	244532	12516	19981
TOTAL ASSETS	2515419	633906	757767
TOTAL EQUITY	329577	215568	192562
Share Capital	30	30	30
Retained Profits	329547	215538	192532
TOTAL LONG TERM LIABS
Long Term Loans
TOTAL CURRENT LIABILITIES	2185842	418338	565205
Short Term Loans	711220
Short Term Trade Creditors	1474622	418338	565205
TOTAL EQUITY & LIABILITIES	2515419	633906	757767

Key Credit Ratios

The following figures are shown as Ratios or Percentages

Accounts Date	01.01.2010	01.01.2009	01.01.2008
Current Ratio	1,05	1,08	1,31
Working Capital, x1000 RUR	117626	34045	174688
Quick Ratio	1	0,84	1,17
Debt to Equity Ratio	6,63	1,94	2,94
Current Assets Turnover	3,17	11,99	5,94
Total Assets Turnover Ratio	2,9	8,56	5,8
Pre Tax Profit Margin, %	3,67	2,28	3,41
Gross Profit, %	2,57	3,32	2,95
Return on Investment, %	81,21	57,32	77,73
Return on Assets, %	10,64	19,49	19,75

Clients & Suppliers

Clients

SRL RIUL VECHE (Moldova) SIA YUONIKS (Latvia)

Suppliers

ZHEJIANG CHUNAN NEW CONTINENT TEA CO., LTD. (China) CHINA TEA CO., LTD. (China) YUNNAN TEA GARDEN GROUP SHAREHOLDING (China) L.A.B.INTERNATIONAL KENIA LIMITED (Kenya) GIRNAR EXPORTS (India) GLATFELTER GERNSBACH GMBH & CO. KG (Germany) BHANSALI & CO. (India) VALORIZACAO EMPRESA DE CAFE S.A. (Brazil) MARTIN BAUER GMBH & CO. KG (Germany) ZWIRNEREI A.D.WUTACH GMBH (Germany) KRAUTER MIX GMBH (Germany) HALSSEN AND LYON GMBH (Germany) GDG SCHUTTE GMBH &CO. KG (Germany) GRIFFIN GLOBAL ALLIANCE PTE LTD. (Vietnam) EMPIRE TEAS LTD. (Sri Lanka) SINAR MALUKU (Indonesia) AHLSTROM FIBERCOMPOSITES (Great Britain) SAOKIN NIGERIA LTD. (Nigeria) OAO "UKRPLASTIK" (Ukraine) *** 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

The information of Arbitration court of Moscow about judicial claims is presented

Date of registration	21.12.2009
Registration number	A56-93014/2009
Plaintiff	ZAO "ORIMI TREYD"
Defendant	OAO "PETROLESPORT"
Claim sum	1 233 937 RUR
Claim category	Default of obligations under the contract

Date of registration	31.08.2010
Registration number	A56-48264/2010
Plaintiff	ZAO "ORIMI TREYD"
Defendant	ZAO "SPAR RITEYL"
Claim sum	1 733 087 RUR
Claim category	Default of obligations under the contract

Date of registration	26.12.2008
Registration number	A56-59347/2008
Plaintiff	ZAO "ORIMI TREYD"
Defendant	ZAO "PLES"
Claim sum	3 073 897 RUR
Claim category	Default of obligations under the contract

Date of registration	09.02.2007
Registration number	A56-4389/2007
Plaintiff	ZAO "ORIMI TREYD"
Defendant	Baltic customs
Claim sum	-
Claim category	Customs dispute

Original Financial Data

(Russian Accounting Report in English)

Balance Sheet

The following figures are shown in units of 1000

ASSETS	Line code	as at 01.01.2008	as at 01.01.2009	as at 01.01.2010
I. NON-CURRENT ASSETS
Intangible assets	110	3650	3246	2761
Fixed assets	120	314	307	253
Construction in progress	130	59	-	42
Income-bearing investments in tangible assets	135	-	-	-
Long-term financial investments	140	13851	177970	208895
Deferred tax assets	145	-	-	-
Other non-current assets	150	-	-	-
Total section I	190	17874	181523	211951
II. CURRENT ASSETS
Inventories	210	76228	100592	114074
including :
raw materials and other inventories	211	-	-	-
livestock	212	-	-	-
work in progress	213	-	-	-
finished goods and goods for resale	214	75581	100298	113606
goods dispatched	215	-	-	-
expenses related to future periods	216	486	294	468
other supplies and expenditures	217	161	-	-
Value added tax on purchased goods	220	586	-	-
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	643098	245700	738547
including :
buyers and customers	241	353299	57704	309668
Short-term investments	250	-	93575	1206315
Monetary assets	260	19981	12516	244532
Other current assets	270	-	-	-
Total section II	290	739893	452383	2303468
TOTAL SECTIONS I and II	300	757767	633906	2515419

EQUITY AND LIABILITIES
III. EQUITY AND RESERVES
Share capital	410	30	30	30
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	192532	215538	329547
Total section III	490	192562	215568	329577
IV. NON-CURRENT LIABILITIES
Borrowings	510	-	-	-
Deferred tax liabilities	515	-	-	-
Other non-current liabilities	520	-	-	-
Total section IV	590	-	-	-
V. CURRENT LIABILITIES
Borrowings	610	-	-	711220
Accounts payable	620	565205	418338	1474622
including :
suppliers and contractors	621	563577	412583	1457441
salaries payable	622	511	646	539
payable to state non-budget funds	623	94	81	72
taxes payable	624	1016	5028	16570
other creditors	625	7	-	-
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	565205	418338	2185842
TOTAL SECTIONS III,IV,V	700	757767	633906	2515419

PROFIT AND LOSS ACCOUNT

The following figures are shown in units of 1000

PARAMETER	Line code	01.01.2010	01.01.2009	01.01.2008
INCOME FROM AND EXPENSES ON ORDINARY ACTIVITIES
Sale of goods, products, work, services (less VAT, excise tax, other similar mandatory payments)	010	7296203	5423129	4394081
Cost of goods, products, work, services sold	020	7109050	5243285	4264527
Gross profit	029	187153	179844	129554
Selling expenses	030	65751	82659	62505
Administrative expenses	040	-	-	-
Profit (loss) from operations	050	121402	97185	67049
OTHER INCOME AND EXPENSES
Interest income	060	105246	18516	390
Interest expenses	070	32628	129	-
Income from investments in other companies	080	-	-	-
Other operating income	090	744307	264156	137036
Other operating expenses	100	30	256169	54792
Non-operating income	120	-	-	-
Non-operating expenses	130	-	-	-
Profit (loss) before profit tax	140	267655	123559	149683
Deferred tax assets	141	-	-	-
Deferred tax liabilities	142	-	-	-
Current profit tax	150	53646	30553	36106
Net profit (loss) for the reporting period	190	214009	93006	113577

Rates of Exchange

RUR - Russian Rouble	01.01.2010:    1 EUR = 43.46 RUR,   1 USD = 30.19 RUR
EUR - EURO	01.01.2009:    1 EUR = 41.43 RUR,   1 USD = 29.39 RUR
USD - US Dollar	01.01.2008:    1 EUR = 35.93 RUR,   1 USD = 24.55 RUR

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.47.89
UK Pound	1	Rs.75.31
Euro	1	Rs.65.64

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.