MIRA INFORM REPORT

Report Date :

29.02.2012

IDENTIFICATION DETAILS

Name :	OBSCHESTVO S OGRANICHENNOY OTVETSTVENNOSTYU AGROIMPEKS
Registered Office :	Maliy VO prosp., 57, bldg. 4, liter ZH, St.-Petersburg, 199178
Country :	Russia
Financials (as on) :	01.01.2011
Date of Incorporation :	13.01.2003
Com. Reg. No.:	1037835002875
Legal Form :	Limited Liability Company
Line of Business :	Sales of raw materials for food industry.
No. of Employees :	30 (approx.)

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 :	300 000 USD
Status :	Satisfactory
Payment Behaviour :	No Complaints
Litigation :	Exists

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^th, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
Russia	a2	A2

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

Comments

Information

The address mentioned in your inquiry belongs to the company Obschestvo s ogranichennoy otvetstvennostyu "AGROIMPEKS" (name in English: "AGROIMPEX" LIMITED LIABILITY COMPANY). We provide the report on this company.

Summary

Original Name	Obschestvo s ogranichennoy otvetstvennostyu "AGROIMPEKS"
Legal Form	OOO (Limited Liability Company by Russian Law)
Year of Foundation	1994
Sales	1 548 775 th RUR for 12 months, ended 01.01.2011
Employees	30 (approx.) on February, 27, 2012 (company's data)

Creditline Recommendations

Credit Limit

300 000 USD

Company Identification Details

Original Name	Obschestvo s ogranichennoy otvetstvennostyu "AGROIMPEKS"
Short Name	OOO "AGROIMPEKS"
Name in English	"AGROIMPEX" LIMITED LIABILITY COMPANY
Address	Maliy VO prosp., 57, bldg. 4, liter ZH, St.-Petersburg, 199178, Russian Federation
Legal Address	Maliy VO prosp., 57, bldg. 4, liter ZH, St.-Petersburg, 199178, Russian Federation
Phone	+7 (812) 4494141
Fax	+7 (812) 3136378
E-mail	office@agroimpex.com
WEB Address	www.agroimpex.com
History	28.08.2009: Legal Address changed from M. Balkanskaya str., 44, St.-Petersburg, 192283, Russian Federation

Official Company Data

Legal Form	OOO (Limited Liability Company by Russian Law)
Date of Registration	13.01.2003
Registration Number	1037835002875
Statistic Code (OKPO)	39442553
Taxpayer Code (INN)	7816085379
Registration Authority	Ministry for Taxes and Duties of Russian Federation

Public Record Information

Information

The company Obschestvo s ogranichennoy otvetstvennostyu "AGROIMPEKS" was not included in the published list of bankrupt companies.

Share Capital

Current Share Capital

30 000 RUR

Shareholders

Total	5 private persons
Shareholder	Mr Gusakov Vasiliy Viktorovich
Nationality	Russian Federation
Taxpayer Code (INN)	781014069124
Share	30 %
Shareholder	Ms Voronkova Anna Alekseevna
Nationality	Russian Federation
Share	10 %
Shareholder	Ms Borisova Marina Sergeevna
Nationality	Russian Federation
Taxpayer Code (INN)	780107407656
Share	10 %
Shareholder	Ms Kozlova Irina Valer'evna
Nationality	Russian Federation
Taxpayer Code (INN)	783800169107
Share	20 %
Shareholder	Mr Khaesh Sergey Anatol'evich
Nationality	Russian Federation
Taxpayer Code (INN)	782612442584
Share	30 %

Directors

Director	Mr Khaesh Sergey Anatol'evich
	Signature Right
Nationality	Russian Federation
Taxpayer Code (INN)	782612442584

Re-Registration Data

Initial Registration	25.11.1994
Registration Number	8723
Registration Authority	Registration Changes of St.-Petersburg
Date of Registration	13.01.2003
	(Entering into the Single State Register of Legal Entities)
Registration Number	1037835002875
Registration Authority	Ministry for Taxes and Duties of Russian Federation
Date of Re-registration	26.09.2008
File Number	9089847576227
Registration Authority	Federal Tax Service of Russian Federation
Changes	Company's Rules
Date of Re-registration	03.02.2009
File Number	2097847747611
Registration Authority	Federal Tax Service of Russian Federation
Changes	Company's Rules
Date of Re-registration	13.03.2009
File Number	6097847337329
Registration Authority	Federal Tax Service of Russian Federation
Changes	Company's Rules
Date of Re-registration	28.08.2009
File Number	8097847636604
Registration Authority	Federal Tax Service of Russian Federation
Changes	Legal Address
Date of Re-registration	01.12.2009
File Number	2099847124408
Registration Authority	Federal Tax Service of Russian Federation
Changes	Company's Rules
Date of Re-registration	13.04.2010
File Number	6107847442092
Registration Authority	Federal Tax Service of Russian Federation
Changes	Share Capital
Date of Re-registration	18.02.2011
File Number	2117847426002
Registration Authority	Federal Tax Service of Russian Federation
Changes	Company's Rules

Operations

Activities	Sales of raw materials for food industry.
Staff Employed	30 (approx.) on February, 27, 2012 (company's data)

Real Estate

Own	None
Rent	Office, warehouse Address: Maliy VO prosp., 57, bldg. 4, liter ZH, St.-Petersburg, 199178, Russian Federation (company's data)

Export & Import

Export Countries	2011: Netherlands
Exported Goods	nuts
Export Value	in 2011: 43 920 USD in 2008-2010: none
Import Countries	2011: Argentina, USA, India, Brazil, Vietnam, Indonesia, Turkey, Chile, China, Thailand, Spain, Republic of South Africa, Australia, Philippines, Estonia 2010: Argentina, USA, Brazil, Vietnam, Chile, Indonesia, China, India, Spain, Thailand, Turkey, Germany, Singapore, Nigeria, Mozambique 2009: Argentina, Brazil, Paraguay, USA, Spain, Netherlands, Pakistan, Vietnam, Chile, Indonesia, Turkey, Nigeria, China, Philippines, India, Singapore 2008: Argentina, Brazil, Spain, USA, Malaysia, Bulgaria, Netherlands
Imported Goods	nuts, fruit, berries, equipment, spare parts
Import Value	in 2011: 55 446 119 USD in 2010: 44 634 421 USD in 2009: 31 775 483 USD in 2008: 13 411 620 USD

Branches

Branch

The companies has got branches situated at following addresses: Address: Zorge str., 9, Moscow, 125252, Russian Federation Tel.: + 7 (499) 1958504 E-mail: info@agroimpex.com Address: Fabrichnaya str., 55, Novosibirsk, 630007, Russian Federation Tel.: +7 (383) 3632848 E-mail: info@agroimpex.com Address: Mazlumova str., 25, Voronezh, 394040, Russian Federation Tel.: +7 (4732) 619081 E-mail: info@agroimpex.com Address: Sverdlova str., 42, Bol'shoy Istok village, Sverdlovsk Region, 624006, Russian Federation Tel.: +7 (343) 2162826 E-mail: info@agroimpex.com Address: Novocherkasskoe shosse, 111, Rostov-on-Don, 346720, Russian Federation Tel.: +7 (960) 4434525 E-mail: info@agroimpex.com

Participation

Information

None

Related Companies

Information

Mr Gusakov Vasiliy Viktorovich and Ms Kozlova Irina Valer'evna are also the shareholders of company OOO "GLOBAL TREYD MENEDZHMENT" Registration Number: 1077847545434 Ms Borisova Marina Sergeevna is also the shareholder of companies: OOO "GLOBAL TREYD MENEDZHMENT" Registration Number: 1077847545434 OOO "AGROLOGIK" Registration Number: 1097847115200 Mr Khaesh Sergey Anatol'evich is also the shareholder of companies: OOO "GLOBAL TREYD MENEDZHMENT" Registration Number: 1077847545434 OOO "AGROLOGIK" Registration Number: 1097847115200 OOO "ALMAKAD" Registration Number: 5067847044777 Ms Voronkova Anna Alekseevna isn't a shareholder of any other companies of Russian Federation.

Bankers

Bank	OAO "BANK VTB SEVERO-ZAPAD", bank code: 044030791 (Russian Federation)
Account(s)	40702810751000001038 (RUR)
Bank	OOO KB "PROMSVYAZ'BANK" (Russian Federation)
Bank	AKTSIONERNYY KOMMERCHESKIY SBEREGATEL'NYY BANK ROSSIYSKOY FEDERATSII (OAO), branch No 8426 (Russian Federation)

Financial Data

Profit and Loss (extract)

The following figures are shown in units of 1000

Period, months	12	12	12
Ended	01.01.2011	01.01.2010	01.01.2009
Currency	RUR	RUR	RUR
SALES	1548775	991756	266556
Cost of Goods sold	1276287	767059	232719
GROSS PROFIT	272488	224697	33837
Distribution Costs	130112	106096	12854
Management Costs	44629	25893	6169
OPERATING PROFIT	97747	92708	14814
Non Trading Income	-19360	-13646	-14493
PRE TAX PROFIT	78387	79062	321
Taxation	17091	16376	277
PROFIT AFTER TAX	61939	62686	44

Balance Sheet (extract)

The following figures are shown in units of 1000

As at	01.01.2011	01.01.2010	01.01.2009
Currency	RUR	RUR	RUR
TOTAL FIXED ASSETS	1934	8832	4653
Intangible Assets	73
Fixed Assets	1212	746	653
TOTAL CURRENT ASSETS	515256	300818	141781
Stock	131728	76077	102307
Trade debtors	350503	210694	17417
Cash	28815	2021	497
TOTAL ASSETS	517190	309650	146434
TOTAL EQUITY	125086	63393	697
Share Capital	30	12	2
Retained Profits	125056	63381	695
TOTAL LONG TERM LIABS	40	25000
Long Term Loans		25000
TOTAL CURRENT LIABS	392064	221257	145737
Short Term Loans	182471	28000
Short Term Trade Creditors	209593	193257	145737
TOTAL EQUITY & LIABS	517190	309650	146434

Key Credit Ratios

The following figures are shown as Ratios or Percentages

Accounts Date	01.01.2011	01.01.2010	01.01.2009
Current Ratio	1,31	1,36	0,97
Working Capital, x1000 RUR	123192	79561	-3956
Quick Ratio	0,98	1,02	0,27
Debt to Equity Ratio	3,13	3,88	209,09
Current Assets Turnover	3,01	3,3	1,88
Total Assets Turnover Ratio	2,99	3,2	1,82
Pre Tax Profit Margin, %	5,06	7,97	0,12
Gross Profit, %	17,59	22,66	12,69
Return on Investment, %	62,67	124,72	46,05
Return on Assets, %	15,16	25,53	0,22

Clients & Suppliers

Clients

CORNHOUSE LTD. (Netherlands) OOO "ATTILA-LAYN" (Russian Federation) OOO "RASKOM STAYL" (Russian Federation)

Suppliers

FAZLANI EXPORTS PVT LTD. (India) GSL PREMIUM FOOD EXPORT CORPORATION (Philippines) CV. LUCKY COCONUT INDUSTRY (Indonesia) PACIFIC NUT COMPANY CHILE S.A. (Chile) CHARBHUJA INDUSTRIES PVT.LTD. (India) COTAGRO COOPERATIVA AGROPECUARIA LIMITADA (Brazil) SUMMIT ALMONDS (USA) QINGDAO TONGSEN GROUP CORPORATION (China) OOO "STSS SOVINTEL" (Russian Federation) *** The names of foreign partners may be pointed incorrectly as in official documents (declarations) they’re written in Russian. We present our apologies for possible mistakes in transliteration.

Actions at law

The information of Arbitration court of Moscow about judicial claims is presented

Date of registration	10.10.2011
Registration number	A56-55162/2011
Plaintiff	OOO "ROSPISCHESNAB"
Defendant	OOO "AGROIMPEKS"
Claim sum	83 344 RUR
Claim category	Default of obligations under the contract

Date of registration	28.06.2010
Registration number	A56-23766/2010
Plaintiff	OOO "LOGISTIKA SKANDINAVIYA"
Defendant	OOO "AGROIMPEKS"
Claim sum	363 822 RUR
Claim category	Default of obligations under the contract

Date of registration	23.06.2010
Registration number	A56-34728/2010
Plaintiff	OOO "NORD-VEST VIND"
Defendant	OOO "AGROIMPEKS"
Claim sum	4 144 463 RUR
Claim category	Default of obligations under the contract

Publications

Date	2012
Source	The Federal Tax Service of Russian Federation
Text of Publication	The Federal Tax Service of Russian Federation has published the information that Mr Khaesh Sergey Anatol'evich (as private person) does't have not paid taxes.
Date	2012
Source	The Federal Tax Service of Russian Federation
Text of Publication	The Federal Tax Service of Russian Federation has published the information that Mr Gusakov Vasiliy Viktorovich (as private person) does't have not paid taxes.
Date	2012
Source	The Federal Tax Service of Russian Federation
Text of Publication	The Federal Tax Service of Russian Federation has published the information that Ms Kozlova Irina Valer'evna (as private person) does't have not paid taxes.

Original Financial Data

(Russian Accounting Report in English)

Balance Sheet

The following figures are shown in units of 1000

ASSETS	Line code	as at 01.01.2009	as at 01.01.2010	as at 01.01.2011
I. NON-CURRENT ASSETS
Intangible assets	110	-	-	73
Fixed assets	120	653	746	1212
Construction in progress	130	-	-	102
Income-bearing investments in tangible assets	135	-	-	-
Long-term financial investments	140	4000	8086	-
Deferred tax assets	145	-	-	547
Other non-current assets	150	-	-	-
Total section I	190	4653	8832	1934
II. CURRENT ASSETS
Inventories	210	102307	76077	131728
including :
raw materials and other inventories	211	94	291	5419
livestock	212	-	-	-
work in progress	213	6159	4974	4783
finished goods and goods for resale	214	95942	70616	121223
goods dispatched	215	-	-	-
expenses related to future periods	216	113	196	303
other supplies and expenditures	217	-	-	-
Value added tax on purchased goods	220	21559	11790	3616
Accounts receivable (payments expected beyond 12 months after the reporting date)	230	-	-	-
including :
buyers and customers	231	-	-	-
Accounts receivable (payments expected within 12 months after the reporting date)	240	17417	210694	350503
including :
buyers and customers	241	17362	136675	216170
Short-term investments	250	-	150	-
Monetary assets	260	497	2021	28815
Other current assets	270	-	86	594
Total section II	290	141781	300818	515256
TOTAL SECTIONS I and II	300	146434	309650	517190
EQUITY AND LIABILITIES
III. EQUITY AND RESERVES
Share capital	410	2	12	30
Treasury shares	411	-	-	-
Additional capital	420	-	-	-
Legal reserve	430	-	-	-
including :
reserves and provisions formed in  accordance with legislation	431	-	-	-
reserves formed in accordance  with foundation documents	432	-	-	-
Retained earnings (loss)	470	695	63381	125056
Total section III	490	697	63393	125086
IV. NON-CURRENT LIABILITIES
Borrowings	510	-	25000	-
Deferred tax liabilities	515	-	-	40
Other non-current liabilities	520	-	-	-
Total section IV	590	-	25000	40
V. CURRENT LIABILITIES
Borrowings	610	-	28000	182471
Accounts payable	620	145737	193257	209593
including :
suppliers and contractors	621	145366	191435	201086
salaries payable	622	56	-	-
payable to state non-budget funds	623	-	90	202
taxes payable	624	315	816	4382
other creditors	625	-	916	3923
Dividends payable to participants (shareholders)	630	-	-	-
Income of future periods	640	-	-	-
Reserves for future expenses and payments	650	-	-	-
Other current liabilities	660	-	-	-
Total section V	690	145737	221257	392064
TOTAL SECTIONS III,IV,V	700	146434	309650	517190

PROFIT AND LOSS ACCOUNT

The following figures are shown in units of 1000

PARAMETER	Line code	01.01.2011	01.01.2010	01.01.2009
INCOME FROM AND EXPENSES ON ORDINARY ACTIVITIES
Sale of goods, products, work, services (less VAT, excise tax, other similar mandatory payments)	010	1548775	991756	266556
Cost of goods, products, work, services sold	020	1276287	767059	232719
Gross profit	029	272488	224697	33837
Selling expenses	030	130112	106096	12854
Administrative expenses	040	44629	25893	6169
Profit (loss) from operations	050	97747	92708	14814
OTHER INCOME AND EXPENSES
Interest income	060	-	-	-
Interest expenses	070	4650	2588	-
Income from investments in other companies	080	-	-	-
Other operating income	090	42454	51863	1972
Other operating expenses	100	57164	62921	16465
Non-operating income	120	-	-	-
Non-operating expenses	130	-	-	-
Profit (loss) before profit tax	140	78387	79062	321
Deferred tax assets	141	772	-	-
Deferred tax liabilities	142	-	-	-
Current profit tax	150	17091	16376	277
Net profit (loss) for the reporting period	190	61939	62686	44

Rates of Exchange

RUR - Russian Rouble	01.01.2011:   1 EUR = 40.49 RUR,   1 USD = 30.35 RUR
EUR - EURO	01.01.2010:   1 EUR = 43.46 RUR,   1 USD = 30.19 RUR
USD - US Dollar	01.01.2009:   1 EUR = 41.43 RUR,   1 USD = 29.39 RUR

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.49.14
UK Pound	1	Rs.77.86
Euro	1	Rs.66.06

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.