MIRA INFORM REPORT

Report Date :

05.04.2012

IDENTIFICATION DETAILS

Name :	ARYA-PRODUCT, LLC
Registered Office :	34/1 Volynska str., Kiev, 03151
Country :	Ukraine
Financials (as on) :	31.12.2008
Date of Incorporation :	04.12.2006
Com. Reg. No.:	34771585
Legal Form :	Limited Liability Company
Line of Business :	Wholesale of fruit and vegetables
No. of Employees :	10

RATING & COMMENTS

MIRA’s Rating :

B

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

Status :	Small Company
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 – September 30^th, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
Ukraine	b2	B2

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

Identification

Full Name

:

Tovarystvo z obmezhenoyu vidpovidalnistyu ARIYA-PRODUKT

Name in English

:

ARYA-PRODUCT, LLC

Office address

:

34/1 Volynska str., Kiev, 03151, Ukraine

Legal Address

:

34/1 Volynska str., Kiev, 03151, Ukraine

Contacts

:

-	Phone	:	(+38 044) 4557363
-	Fax	:	(+38 044) 2458233
-	E-mail	:	info@arya.in.ua
-	WWW	:	www.arya.in.ua

company SUMMARY

Legal Form : TOV (Limited Liability Company by Ukrainian Law)

Incorporation : 2006

Staff : 10

Litigation events : n/a Remarks on payments : n/a

Sales :	1 181.90 th UAH ( for 12 months, ended 31.12.2008 )
	700.20 th UAH ( for 12 months, ended 31.12.2007 )

Incorporation

:

2006

Registration Data

Date of registration

:

04.12.2006

Registration number

:

34771585

Registr. authority

:

Local Administration (Kiev, Ukraine)

VAT number

:

347715826583

Registr. place

:

Ukraine

Number of VAT-certificate: 100008738 Date of issue: 26.12.2006

Legal Form

:

TOV (Limited Liability Company by Ukrainian Law)

since 04.12.2006

Share Capital

:

100 000 UAH (registered)

since 01.03.2011

Shareholders

:

-	Mr Movaseg Hamidreza (Iran)				75.00 %
		share's book value	:	75 000 UAH
		reg. number	:	75000
-	Olfat Nabari Zabiolla				25.00 %
		share's book value	:	25 000 UAH

Board / Executives

Executives

Director

:

Movaseg Hamidreza (Iran)

Authorised signature

:

Movaseg Hamidreza

Changes in Registration Data

- 01.03.2011

:

share capital

Activities

:

-	5148	Fruits
		(NACE 5131: Wholesale of fruit and vegetables)

Wholesale trade of dried fruits.

Staff employed

:

10 [E]

Export

:

none

Import

:

none

Facilities

Real estate

:

own:
-	Premises - Office
	address	:	34/1 Volynska str., Kiev, 03151, Ukraine

Branches

:

none

Subsidiaries and Participation

:

none

Bankers

:

-	Kreditprombank (Ukraine)
	bank code	:	300863
	account(s)	:	26003149800035 UAH

Litigation

:

According to the data of Bulletin of the State Registration as of 02.04.2012, there are no bankruptcy registered in the name of the subject company.

There are no suits/litigation files recorded in the name of ARIYA-PRODUKT company registered at the web-site of the Unified State Register of the Legal Judgements.

Remarks on payment

:

No official information is available according to the Ukrainian legislation.

Financial Elements

:

There is no companys financial report for 12 months 2009, 2010 at the official accessible sources. The subject company is legally obliged to file its financial statements at the State Register, but it has not done this.

Period, months	12	12
Ended	31.12.2008	31.12.2007
Currency	UAH th	UAH th
Non-current assets	0.00	0.00
incl: - Fixed assets	0.00	0.00
- Financial assets	0.00	0.00
Current assets	438.20	81.30
incl: - Stock	340.00	59.00
- Debtors	18.00	8.70
- Cash	19.20	13.50
ASSETS TOTAL	438.20	81.30
Equity	21.20	24.90
incl: - Share capital	20.00	20.00
Liabilities Total	417.00	56.40
incl: - Long-term liabilities	0.00	0.00
- Short-term liabilities	417.00	56.40
EQUITY AND LIABILITIES TOTAL	438.20	81.30
Net sales	1 181.90	700.20
Cost of goods sold
Operating profit
Profit before taxation	-3.70	4.90
Net profit	-3.70	4.90
- - - - - - - KEY RATIOS - - - - - - -
Return on sales, %	-0.31	0.70
Profit before taxation / Net sales
Operating margin of profit, %
Operating profit / Net sales
Return on investment, %	-17.45	19.68
Profit before taxation / Equity
Current assets turnover	2.70	8.61
Net sales / Current assets
Working capital	21.20	24.90
Current assets - Short-term liabilities
Leverage	0.05	0.31
Equity / Total assets
Current ratio	1.05	1.44
Current assets / Short-term liabilities
Quick ratio	0.24	0.40
(Current assets - Stock) / Short-term liabilities
Debt-to-equity ratio	19.67	2.27
Total liabilities / Equity

The company is registered as a taxpayer at the State Tax Administration.

FINAL COMMENTS

The information given in this report was collected from all the sources accessible. We contacted Mrs Valentina (secretary) on 02.04.2012 by the tel. number: +38 044 4557363. She confirmed the contact data, address and name of the Company. We sent the letter (of inquiry) to the Company by the e-mail: info@arya.in.ua, but there was no reply received by now. If we receive additional information we will inform you at once.

APPENDIX A

Financial Statements

Period, months	12	12
Ended	31.12.2008	31.12.2007
Currency	UAH th	UAH th
SMALL ENTREPRENEUR's PROFIT AND LOSS
ACCOUNT (s)
010 Sales revenue (Income from sales of goods, work,	1 181.90	700.20
services
020 Indirect taxes and other compulsory payments	197.00	118.90
030 Net sales revenue (010-020)	984.90	581.30
040 Other operating income	0.00	0.00
050 Other income from ordinary activity	0.00	0.00
060 Extraordinary income	0.00	0.00
070 Net revenue total (030+040+050+060)	984.90	581.30
080 Change in work-in-progress and finished goods	0.00	0.00
090 Tangible expenses	0.00	0.30
100 Payroll costs	26.20	14.40
110 Allocation to social needs	9.70	5.40
120 Amortization charges	0.00	0.00
130 Other operating charges	0.10	0.00
131 incl.	0.00	0.00
140 Cost of sales	952.60	556.30
150 Other ordinary activity expenses	0.00	0.00
160 Extraordinary charges	0.00	0.00
170 Profit tax	0.00	0.00
180 Charges total (090+100+110+120+130+140+150+	988.60	576.40
+160+170+ -080)
190 Net profit (070-180)	-3.70	4.90
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
BALANCE SHEET
ASSETS
I. NON-CURRENT ASSETS
020 Construction in progress	0.00	0.00
Fixed assets
030 residual assets	0.00	0.00
031 acquisition cost	0.00	0.00
032 depreciation	0.00	0.00
Long-term financial assets
040 Capital participation in other enterprises	0.00	0.00
070 Other non-current assets	0.00	0.00
080 NON-CURRENT ASSETS TOTAL	0.00	0.00
II. CURRENT ASSETS
Stock
100 Raw materials, consumables and supplies	0.00	0.00
130 Finished goods	340.00	59.00
Trade debtors:
160 net realizable value	0.00	0.00
161 acquisition cost	0.00	0.00
162 doubtful debts reserve	0.00	0.00
Accounts receivable
170 Budget accounts receivable	11.80	8.00
210 Other current accounts receivable	6.20	0.70
220 Current financial investments	0.00	0.00
Cash at bank and in hand
230 Funds in local currency	19.20	13.50
240 Funds in foreign currencies	0.00	0.00
250 Other current assets	61.00	0.10
260 CURRENT ASSETS TOTAL	438.20	81.30
270 III. DEFERRED CHARGES	0.00	0.00
280 ASSETS TOTAL	438.20	81.30
EQUITY AND LIABILITIES
I. CAPITAL AND RESERVES
300 Authorized capital	20.00	20.00
320 Additional contributed capital	0.00	0.00
340 Reserve capital	0.00	0.00
350 Retained earnings (loss)	1.20	4.90
360 Unpaid capital (minus)	0.00	0.00
380 CAPITAL AND RESERVES TOTAL	21.20	24.90
430 II. PROVISIONS FOR EXPENSES AND	0.00	0.00
LIABILITIES
480 III. LONG-TERM LIABILITIES	0.00	0.00
IV. SHORT-TERM LIABILITIES
500 Short-term amounts owed to credit institutions	0.00	0.00
510 Short-term portion of long-term liabilities	0.00	0.00
530 Trade creditors	0.10	53.60
Accounts payable:
550 Budget accounts payable	0.40	0.20
570 Insurance payments	1.20	0.50
580 Accrued payroll	19.10	1.20
610 Other short-term liabilities	396.20	0.90
620 SHORT-TERM LIABILITIES TOTAL	417.00	56.40
630 V. DEFERRED INCOME	0.00	0.00
640 EQUITY AND LIABILITIES TOTAL	438.20	81.30

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.51.05
UK Pound	1	Rs.81.09
Euro	1	Rs.67.39

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.