MIRA INFORM REPORT

Report Date :

30.04.2012

IDENTIFICATION DETAILS

Name :	KENTZ INTERNATIONAL LUBRICANT INDUSTRY LLC

Registered Office :	New Industrial Area, P O Box 3505, Ajman

Country :	United Arab Emirates

Financials (as on) :	31.12.2011

Date of Incorporation :	19.05.2003

Com. Reg. No.:	26738, Ajman

Legal Form :	Limited Liability Company

Line of Business :	Manufacture of lubricants and greases

No. of Employees :	28

RATING & COMMENTS

MIRA’s Rating :

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

Status :	Satisfactory

Payment Behaviour :	Usually Correct

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 : KENTZ INTERNATIONAL LUBRICANT INDUSTRY LLC

Country of Origin : Ajman, United Arab Emirates

Legal Form : Limited Liability Company - LLC

Registration Date : 19^th May 2003

Commercial Registration Number : 26738, Ajman

Chamber Membership Number : 32227

Issued Capital : UAE Dh 300,000

Paid up Capital : UAE Dh 300,000

Total Workforce : 28

Activities : Manufacture of lubricants and greases

Financial Condition : Fair

Payments : Nothing detrimental uncovered

Operating Trend : Steady

COMPANY NAME

KENTZ INTERNATIONAL LUBRICANT INDUSTRY LLC

company ADDRESS

Registered & Physical Address

Location : New Industrial Area

PO Box : 3505

Town : Ajman

Country : United Arab Emirates

Telephone : (971-6) 7439233

Facsimile : (971-6) 7439245

Email : kentz@eim.ae / stankenz@emirates.net.ae

Premises

Subject operates from a small suite of offices and a factory that are rented and located in the Industrial Area of Ajman.

KEY PRINCIPALS

Name Nationality Position

· Deepak Kumar Varma Indian Managing Director

· Anup Kumar Soni Indian Director

· Mariam Hussain Abdullah Emirati Director

· Atul Kumar Mehta - General Manager

LEGAL FORM & OWNERS

Date of Establishment : 19^th May 2003

Legal Form : Limited Liability Company - LLC

Commercial Reg. No. : 26738, Ajman

Chamber Member No. : 32227

Issued Capital : UAE Dh 300,000

Paid up Capital : UAE Dh 300,000

Name of Shareholder (s)

· Deepak Kumar Varma

· Anup Kumar Soni

· Mariam Hussain Abdullah

AFFILIATED COMPANIES

· Kentz Trading & Contracting Co

Safat

Kuwait

OPERATIONS

Activities: Engaged in the manufacture and distribution of lubricants and greases.

Production Capacity: 30,000 MT per year.

Import Countries: Europe and GCC countries.

Brand Names: HENEKEL and KENTZ

Operating Trend: Steady

Subject has a workforce of 28 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 12,900,000 UAE Dh 14,125,000

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 payment obligations are met in a generally timely manner and the operating history is clear. As such the company is deemed a fair trade risk.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.52.68
UK Pound	1	Rs.85.12
Euro	1	Rs.69.38

INFORMATION DETAILS

Report Prepared by :

MNL

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.