MIRA INFORM REPORT

Report Date :

11.04.2012

IDENTIFICATION DETAILS

Name :	SUNDER TEXTILE LLC

Registered Office :	Al Khayat Building, Suite No. 302, Bur Dubai, P O Box 45920, Dubai

Country :	United Arab Emirates

Financials (as on) :	31.12.2011

Date of Incorporation :	25.05.2005

Com. Reg. No.:	74197, Dubai

Legal Form :	Limited Liability Company

Line of Business :	Distributors of textiles and household goods

No. of Employees :	06

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$ 150,000

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 – March 31^st, 2012

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

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 : SUNDER TEXTILE LLC

Country of Origin : Dubai, United Arab Emirates

Legal Form : Limited Liability Company - LLC

Registration Date : 25^th May 2005

Commercial Registration Number : 74197, Dubai

Trade Licence Number : 569550

Chamber Membership Number : 97725

Issued Capital : UAE Dh 300,000

Paid up Capital : UAE Dh 300,000

Total Workforce : 6

Activities : Distributors of textiles and household goods

Financial Condition : Fair

Payments : Nothing detrimental uncovered

Operating Trend : Steady

Recommended Credit Limit : US$ 150,000

COMPANY NAME

SUNDER TEXTILE LLC

compaNY ADDRESS

Registered & Physical Address

Building : Al Khayat Building, Suite No. 302

Area : Bur Dubai

PO Box : 45920

Town : Dubai

Country : United Arab Emirates

Telephone : (971-4) 3539631

Facsimile : (971-4) 3539632

Premises

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

KEY PRINCIPALS

Name Nationality Position

· Deleep Sundardas Mulani Indian Managing Director

· Ahmed Hassan Talabi Iranian Director

· Yaser Ibrahim Mohamad Ali Bahzad Emirati Director

LEGAL FORM & OWNERS

Date of Establishment: 25^th May 2005

Legal Form : Limited Liability Company - LLC

Commercial Reg. No. : 74197, Dubai

Trade Licence No. : 569550 (Expires 24/05/2012)

Chamber Member No.: 97725

Issued Capital : UAE Dh 300,000

Paid up Capital : UAE Dh 300,000

Name of Shareholder (s) Percentage

· Yaser Ibrahim Mohamad Ali Bahzad 51%

· Deleep Sundardas Mulani 25%

· Ahmed Hassan Talabi 24%

OPERATIONS

Activities: Engaged in the import and distribution of textiles and household goods.

Import Countries: Europe and the Far East.

Operating Trend: Steady

Subject has a workforce of 6 employees.

FINANCIAL DATA

Financial highlights provided by local sources are given below:

Currency: United Arab Emirates Dirham (UAE Dh)

Year Ending 31/12/10: Year Ending 31/12/11:

Total Sales UAE Dh 8,900,000 UAE Dh 9,440,000

Local sources consider subject’s financial condition to be Fair.

The above financial figures are based on estimations by our local sources.

BANKERS

· HSBC Bank Middle East

Deira Souk Branch

PO Box: 66

Dubai

Tel: (971-4) 2535000

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.51.20
UK Pound	1	Rs.81.50
Euro	1	Rs.67.15

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.