MIRA INFORM REPORT

Report Date :

04.04.2012

IDENTIFICATION DETAILS

Name :	AL ASDEQAA LABORATORY ENGINEERING EQUIPMENT TRADING FZE

Registered Office :	RAK Free Zone, Ras Al Khaimah

Country :	United Arab Emirates

Date of Incorporation :	2009

Legal Form :	Free Zone Establishment - FZE

Line of Business :	Distributors of laboratory and engineering equipment.

No. of Employees :	2

RATING & COMMENTS

MIRA’s Rating :

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

Maximum Credit Limit :	US$ 100,000
Status :	Satisfactory
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 – September 30, 2011

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

United Arab Emirates

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

SUMMARY

Company Name : AL ASDEQAA LABORATORY ENGINEERING EQUIPMENT TRADING

FZE

Country of Origin : Sharjah, United Arab Emirates

Legal Form : Free Zone Establishment - FZE

Registration Date : 2009

Issued Capital : UAE Dh 1,000,000

Paid up Capital : UAE Dh 1,000,000

Total Workforce : 2

Activities : Distributors of laboratory and engineering equipment.

Financial Condition : Undetermined

Payments : Nothing detrimental uncovered

Recommended Credit Limit : US$ 100,000

COMPANY NAME

AL ASDEQAA LABORATORY ENGINEERING EQUIPMENT TRADING FZE

ADDRESS

Registered Address

Location : RAK Free Zone

Town : Ras Al Khaimah

Country : United Arab Emirates

Physical Address

Building : Office No. 107

Street : Al Mazija Street

Area : Al Marja Area

PO Box : 73058

Town : Sharjah

Country : United Arab Emirates

Telephone : (971-6) 5614749

Facsimile : (971-6) 5682540

Mobile : (971-59) 561474981

Email : al-asdeqaa@hotmail.com

Premises

Subject operates from a small suite of offices and a warehouse that are rented and located in the Central Business Area of Sharjah.

KEY PRINCIPALS

Name Nationality Position

· Jietendra Sharma Indian Managing Director

· Verindera Sharma Indian General Manager

LEGAL FORM & OWNERS

Date of Establishment : 2009

Legal Form : Free Zone Establishment - FZE

Issued Capital : UAE Dh 1,000,000

Paid up Capital : UAE Dh 1,000,000

Name of Shareholder (s) Percentage

· Jietendra Sharma 100%

AFFILIATED COMPANIES

· Al Asdeqaa Laboratory Engineering Equipment Trading LLC

Office No. 107

Al Mazija Street

Al Marja Area

PO Box: 73058 & 27503

Sharjah

Tel: (971-6) 5684616

Fax: (971-6) 5682540

OPERATIONS

Activities: Engaged in the import and distribution of laboratory and engineering equipment.

Import Countries: Europe and the Far East.

Subject has a workforce of 2 employees.

FINANCIAL DATA

Companies registered in Sharjah, United Arab Emirates are not legally required to make their accounts public and no financial information was released by the company or submitted by outside sources.

BANKERS

· Bank of Baroda

PO Box: 3162

Dubai

Tel: (971-4) 5531955

Fax: (971-4) 5536962

Acc No. 90010200008612

PAYMENT HISTORY

No complaints regarding subject’s payments have been reported.

GENERAL COMMENTS

During the course of this investigation nothing detrimental was uncovered regarding subject’s operating history or the manner in which payments are fulfilled. As such the company is considered to be a fair trade risk.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.50.56
UK Pound	1	Rs.81.04
Euro	1	Rs.67.48

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.