MIRA INFORM REPORT

Report Date :

23.04.2012

IDENTIFICATION DETAILS

Name :	AL HAMDY FOODSTUFF TRADING

Registered Office :	Al Bustan Area, P O Box 16781 & 20656, Ajman

Country :	United Arab Emirates

Financials (as on) :	31.12.2011

Date of Incorporation :	18.12.2002

Com. Reg. No.:	24611, Ajman

Legal Form :	Sole Proprietorship

Line of Business :	Wholesale and retail of chocolate, sweets and chips

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 : AL HAMDY FOODSTUFF TRADING

Country of Origin : Ajman, United Arab Emirates

Legal Form : Sole Proprietorship

Registration Date : 18^th December 2002

Commercial Registration Number : 24611, Ajman

Trade Licence Number : 34483

Chamber Membership Number : 31094

Invested Capital : UAE Dh 50,000

Total Workforce : 6

Activities : Wholesale and retail of chocolate, sweets and chips

Financial Condition : Fair

Payments : Nothing detrimental uncovered

Operating Trend : Steady

Recommended Credit Limit : US$ 150,000

Person Interviewed : Mohamed Suhail, Sales Manager

COMPANY NAME

AL HAMDY FOODSTUFF TRADING

company ADDRESS

Registered & Physical Address

Location : Al Bustan Area

PO Box : 16781 & 20656

Town : Ajman

Country : United Arab Emirates

Telephone : (971-6) 7443996

Facsimile : (971-6) 7443996

Mobile : (971-50) 4978319 / 8913131

Premises

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

KEY PRINCIPALS

Name Nationality Position

· Rahim Bournarmal Mahmoud Indian Proprietor & General Manager

· Gamal Haya Emirati Local Sponsor

· Mohamed Suhail - Sales Manager

LEGAL FORM & OWNERS

Date of Establishment : 18^th December 2002

Legal Form : Sole Proprietorship

Commercial Reg. No. : 24611, Ajman

Trade Licence No. : 34483 (Expires 15/06/2012)

Chamber Member No. : 31094

Invested Capital : UAE Dh 50,000

Mr Rahim Bournarmal Mahmoud is the sole proprietor of the business.

OPERATIONS

Activities: Engaged in the wholesale and retail of chocolate, sweets and chips.

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 8,250,000 UAE Dh 8,610,000

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

Main Branch

Ajman

Tel: (971-6) 5537222

Fax: (971-6) 5537880

PAYMENT HISTORY

No complaints regarding subject’s payments have been reported.

GENERAL COMMENTS

Local sources report that the subject’s operating history is clear with payment obligations met in a generally timely manner. The financial position is satisfactory and the business is deemed a fair trade risk.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.51.99
UK Pound	1	Rs.83.54
Euro	1	Rs.63.40

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.