MIRA INFORM REPORT

Report Date :

23.02.2012

IDENTIFICATION DETAILS

Name :	THE OCEANIC PETROLEUM SOURCE PTE. LTD.

Registered Office :	10 Anson Road #17-12 International Plaza Singapore 079903

Country :	Singapore

Date of Incorporation :	10.05.2004

Com. Reg. No.:	200405686H

Legal Form :	Private Limited Exempt Company

Line of Business :	Trade of Petroleum Products.

No. of Employees :	Not Available

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 :	USD 200,000
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 – September 30, 2011

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

Singapore

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

Contact Points

Company Name:	The Oceanic Petroleum Source Pte. Ltd.
Supplied Name:	The Oceanic Petroleum Source Pte Ltd.
Trading Address:	10 Anson Road #17-12 International Plaza Singapore 079903, Singapore
Supplied Address:	17th Floor, 17-12 International Plaza, 10 Anson Road, Singapore 079903
Telephone Number:	+65-6227-5098
Fax Number:	+65-6323-0716

Credit Summary

Credit Rating:	Maximum credit USD 200,000
Credit Opinion:	Business connections are permissible

Special Note

We contacted subject through the telephone number (+65-6227-5098), a lady answered the phone. But she declined to disclose any detail information about subject except the name and the main activity of subject. And the information about subject is obtained from local registry and other sources.

We found subject’s registration information as follows for reference.

Company Identification Details

Registered Name:	The Oceanic Petroleum Source Pte. Ltd.
Registered Address:	10 Anson Road #17-12 International Plaza Singapore 079903, Singapore
Date of Registration::	2004-5-10
Registered Number:	200405686H
Country of Incorporation:	Singapore
Registered Capital:	SGD 3,000,000.00 (USD 2,368,380) (As of 2012.2, 1 SGD = 0.78946 USD)
Paid-up Capital:	SGD 3,000,000.00 (USD 2,368,380)
Legal Form:	Private Limited Exempt Company
Principal Activities:	Trade of Petroleum Products.
Staff:	N/A
Status:	Live Company
Listed at Stock Exchange:	No.
Date of Last Annual Return:	2011-11-1

Note:

Subject declined to disclose the staff number, and from other sources, we couldn’t obtain the information, either.

History

Subject was incorporated on 2004-5-10 with registered number 200405686H as Private Limited Exempt Company in Singapore.

Shareholders

Unit: SGD

Name	Subscription Amount	Proportion of Investment (%)
AMARAPATHI D/O MAYALAGU	1	0.01%
CONTRACTOR FIRDOSH SABANALI	2,999,999	99.99%
Total	3,000,000	100%

Major Shareholder Information:

1
Name:	AMARAPATHI D/O MAYALAGU
ID Number:	S1590594H
Address:	120 Geylang East Central #02-64 Singapore 380120
2
Name:	CONTRACTOR FIRDOSH SABANALI
ID Number:	S2746789Z
Address:	10 Gopeng Street #29-14 Icon Singapore 078878

Subsidiaries & Branches

Subject did not register any subsidiaries or branches, from other source we can not obtain the relevant information, either.

Manage Information

Core Management

Detailed Information of Management:

1
Name:	AMARAPATHI D/O MAYALAGU
Position:	Director
ID Number:	S1590594H
Address:	120 Geylang East Central #02-64 Singapore 380120
Nationality:	Singapore Citizen
Date of Appointment:	2009-3-2
2
Name:	VANGAL RANGARAJAN RANGANATHAN
Position:	Secretary
ID Number:	S2662860A
Address:	207 Serangoon Central #11-198 Singapore 550207
Nationality:	Singapore Citizen
Date of Appointment:	2004-6-10
3
Name:	CONTRACTOR FIRDOSH SABANALI
Position:	Director
ID Number:	S2746789Z
Address:	10 Gopeng Street #29-14 Icon Singapore 078878
Nationality:	Singapore P.R.
Date of Appointment:	2007-11-23

Operation Information

Offices & Factories

	Office
Address:	10 Anson Road #17-12 International Plaza Singapore 079903, Singapore

Production Information

l Subject is trader of petroleum products without any production activities

Sales Information

l Subject is a trader and supplier of petroleum products, such as Base Oils, Gas Oils, RPO, Slack Waxes, Naphtha, etc.

l Subject confirmed that it trades the petroleum products, but declined to confirm other details about subject.

l Subject’s annual sale of subject is about USD 50 million in 2011.

l Subject’s selling territory covers all over the world.

Settlements

Subject declined to disclose any settlement information. And we couldn’t obtain the information from other sources.

Financial Information

Subject has no obligations to disclose its financial statements to the third party according to the relevant policy in Singapore and the only source from which we can obtain the information is the subject itself.

Subject’s relevant staff declined to disclose its financials citing the grounds of company’s confidentiality; from other source we can not obtain the relevant information, either.

Bankers

The bankers’ information is not available from the subject or other sources.

Auditors

Name:

NATARAJAN & SWAMINATHAN

Public

Charges

Charge 1
Charge Number:	C200503331
Date of Registration:	2005-6-10
Name:	DBS BANK LTD.
Amount Secured:	All Monies
Charge 2
Charge Number:	C200709029
Date of Registration:	2007-10-24
Name:	DBS BANK LTD.
Amount Secured:	All Monies
Charge 3
Charge Number:	C200811068
Date of Registration:	2008-12-15
Name:	CITIBANK N.A.
Amount Secured:	All Monies
Charge 4
Charge Number:	C200900420
Date of Registration:	2009-1-15
Name:	DBS BANK LTD.
Amount Secured:	All Monies
Charge 5
Charge Number:	C201003805
Date of Registration:	2010-5-10
Name:	DBS BANK LTD.
Amount Secured:	All Monies
Charge 6
Charge Number:	C201007008
Date of Registration:	2010-8-12
Name:	UNITED OVERSEAS BANK LIMITED
Amount Secured:	All Monies
Charge 7
Charge Number:	C201007050
Date of Registration:	2010-8-12
Name:	OVERSEA-CHINESE BANKING CORPORATION LIMITED
Amount Secured:	All Monies
Charge 8
Charge Number:	C201007417
Date of Registration:	2010-8-23
Name:	THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED
Amount Secured:	All Monies
Charge 9
Charge Number:	C201007655
Date of Registration:	2010-8-31
Name:	THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED
Amount Secured:	All Monies
Charge 10
Charge Number:	C201100871
Date of Registration:	2011-1-19
Name:	AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED
Amount Secured:	All Monies
Charge 11
Charge Number:	C201100883
Date of Registration:	2011-1-19
Name:	AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED
Amount Secured:	All Monies
Charge 12
Charge Number:	C201105578
Date of Registration:	2011-5-6
Name:	THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED
Amount Secured:	All Monies
Charge 13
Charge Number:	C201107049
Date of Registration:	2011-6-13
Name:	COFACE FACTORING PTE. LTD.
Amount Secured:	All Monies

Interview Details

Name:

N/A

Note:

A lady declined to disclose her name.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.49.24
UK Pound	1	Rs.76.75
Euro	1	Rs.65.16

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.