MIRA INFORM REPORT

Report Date :

17.04.2012

IDENTIFICATION DETAILS

Name :	AKSA POWER GENERATION FZE
Registered Office :	Sheikh Zayed Road, Jebel Ali Free Zone, P O Box 18167, Dubai
Country :	United Arab Emirates
Date of Incorporation :	06.01.2004
Legal Form :	Free Zone Establishment
Line of Business :	Distributors of power generation and transmission equipment
No. of Employees :	25

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 :	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	a2	a2

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

SUMMARY

Company Name : AKSA POWER GENERATION FZE

Country of Origin : Dubai, United Arab Emirates

Legal Form : Free Zone Establishment - FZE

Registration Date : 6^th January 2004

Trade Licence Number : 4027

Chamber Membership Number : 82704

Issued Capital : UAE Dh 4,000,000

Paid up Capital : UAE Dh 4,000,000

Total Workforce : Distributors of power generation and transmission equipment.

Activities : 25

Financial Condition : Undetermined

Payments : Nothing detrimental uncovered

Recommended Credit Limit : US$ 150,000

COMPANY NAME

AKSA POWER GENERATION FZE

company ADDRESS

Registered & Physical Address

Street : Sheikh Zayed Road

Area : Jebel Ali Free Zone

PO Box : 18167

Town : Dubai

Country : United Arab Emirates

Telephone : (971-4) 8809140

Facsimile : (971-4) 8809141

Email : aksame@emirates.net.ae / sales@aksa.ae

Premises

Subject operates from a medium sized suite of offices that are rented and located in the Jebel Ali Free Zone Area of Dubai.

KEY PRINCIPALS

Name Nationality Position

· Hasan Atilla Celik Turkish Managing Director

LEGAL FORM & OWNERS

Date of Establishment : 6^th January 2004

Legal Form : Free Zone Establishment - FZE

Trade Licence No. : 4027 (Expires 05/01/2013)

Chamber Member No. : 82704

Issued Capital : UAE Dh 4,000,000

Paid up Capital : UAE Dh 4,000,000

Name of Shareholder (s) Percentage

· AKSA Generator Sanayi Anonim Sirketi 100%

Turkey

AFFILIATED COMPANIES

· Aksa Middle East LLC

Sheikh Zayed Road

Jebel Ali Free Zone

PO Box: 18167

Dubai

Tel: (971-4) 8809140

Fax: (971-4) 8809141

OPERATIONS

Activities: Engaged in the import and distribution of power generation and transmission equipment.

Import Countries: Europe and the Far East.

Subject has a workforce of 25 employees.

FINANCIAL DATA

Companies registered in Dubai, 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

· National Bank of Dubai

Baniyas Street

PO Box: 777

Dubai

Tel: (971-4) 2222241

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.51.66
UK Pound	1	Rs.81.80
Euro	1	Rs.67.18

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.