MIRA INFORM REPORT

Report Date :

14.01.2012

IDENTIFICATION DETAILS

Name :	KS ENERGY LIMITED

Formerly Known As :	KS ENERGY SERVICES LIMITED

Registered Office :	19 Jurong Port Road Singapore 619093

Country :	Singapore

Financials (as on) :	December,2010

Date of Incorporation :	07.01.1983

Com. Reg. No.:	198300104G

Legal Form :	Public Company Limited By Shares

Line of Business :	Wholesale Of Industrial Machinery And Equipment

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	S$1,000,000

Status :	Moderate

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, 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

Executive Summary

Company Name	:	KS ENERGY LIMITED
Registration No	:	198300104G
Date of Registration	:	07/01/1983
Former Name	:	1.KIM SENG HYDRAULIC & OFFSHORE SUPPLY CO. PTE. LTD. Eff. date : 07/01/1983 Eff. date : 07/01/1983 2.KS TECH PTE. LTD. Eff. date : 30/10/1998 Eff. date : 30/10/1998 3.KS TECH LTD. Eff. date : 24/07/1999 Eff. date : 24/07/1999 4.KS ENERGY SERVICES LIMITED Eff. date : 28/04/2005 Eff. date : 28/04/2005
Date of Change of Name	:	28/04/2011
Type of Company	:	PUBLIC COMPANY LIMITED BY SHARES
Registered Address	:	19 JURONG PORT ROAD SINGAPORE 619093
Date of Change of Address	:	11/07/2008
Contact No.	:	6577 4600
Fax No.	:	6577 4618
Website	:	www.ksenergy.com.sg
Registered Activities	:	1. WHOLESALE OF INDUSTRIAL MACHINERY AND EQUIPMENT TRADE IN HYDRAULIC PDT,INSTRUMENTATION, EQUIP FOR SHIPBLD,MARINE,OIL,GAS INDUS 2. OTHER BUSINESS SUPPORT SERVICES ACTIVITIES NEC (EG ADMINISTRATION OF LOYALTY PROGRAMMES) COMMISSION AGTS & TRADING IN HARDWARE PDT & OILFIELD EQUIP & INVESTMENT HLDG
Issued Ordinary Capital*	:	$319,569,258.92 SINGAPORE, DOLLARS, NO. OF SHARE : 421,653,772
Issued Preference Capital	:	NA
Paid-Up Ordinary Capital	:	$319,569,258.92 SINGAPORE, DOLLARS
Paid-Up Preference Capital	:	NA
* Number of Shares includes number of Issued Treasury Shares
Issued Treasury Capital	:	NA
Paid-Up Treasury Capital	:	$34,510,378.17 SINGAPORE, DOLLARS
No. of Local Subsidiaries	:	7
No. of Local Associates	:	2
Auditor	:	KPMG LLP
Bankers / Financiers	:	NA
Turnover	:	SGD - SIN 509,493,000.00 (FY2010)
Net Worth	:	SGD - SIN 464,746,000.00 (FY2010)
No. of Bank Charges	:	NA
No. of Litigation Suits	:	3
S1000 / SME 500 / FG50 Ranking	:	494 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2009/2010) 509 POSITION IN Singapore 1000 Companies Ranked by Net Profit (2009/2010) 81 POSITION IN Singapore 500 Public Listed Companies Ranked By Sales/Turnover (2009/2010) 362 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2008/2009) 324 POSITION IN Singapore 1000 Companies Ranked by Net Profit (2008/2009)
Compounded Annual Growth Rate (CAGR)	:	14.63% (4 years)

Credit Recommendation

Recommended Credit Line

credit recommendation to a maximum of S$1,000,000

SHAREHOLDER DETAILS

As Subject is registered as a public company limited by shares, its shareholder details are not available. Please refer to documentary for information.

OFFICER DETAILS

NAME	:	ABDULLAH MOHAMMED SALEH
ADDRESS	:	ABDULLAH MOHAMMED SALEH'S VILLA 132/15 STREET, DM-22, HAMERIYA AREA, DUBAI, UNITED ARAB EMIRATES
POSITION	:	DIRECTOR
DATE OF APPT	:	01/05/2009
NATIONALITY	:	UNITED ARAB EM.
I/C PASSPORT	:	A0001813

NAME	:	LIM KENG SAN SHIRLEY
ADDRESS	:	161 MEI LING STREET #08-323 SINGAPORE 140161
POSITION	:	SECRETARY
DATE OF APPT	:	31/12/2008
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S0004555A

NAME	:	KOH SOO KEONG
ADDRESS	:	22 SUNSET CLOSE CLEMENTI PARK SINGAPORE 597536
POSITION	:	DIRECTOR
DATE OF APPT	:	01/03/2008
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S0141842D

NAME	:	BILLY LEE BENG CHENG
ADDRESS	:	53 GENTLE ROAD SINGAPORE 309173
POSITION	:	DIRECTOR
DATE OF APPT	:	15/04/2002
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S0150107J

NAME	:	LIM HO SENG
ADDRESS	:	100 NEO TIEW ROAD SINGAPORE 719026
POSITION	:	DIRECTOR
DATE OF APPT	:	01/09/2005
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S0271375F

NAME	:	WONG MENG YENG
ADDRESS	:	1 VICTORIA PARK ROAD VICTORIA PARK SINGAPORE 266478
POSITION	:	DIRECTOR
DATE OF APPT	:	15/04/2002
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S1327330H

NAME	:	BUSARAKHAM KOHSIKAPORN
ADDRESS	:	31 MARINE CRESCENT #09-139 MARINE CRESCENT VILLE SINGAPORE 440031
POSITION	:	SECRETARY
DATE OF APPT	:	31/12/2008
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S1681236F
OFFICER DETAILS
NAME	:	KRIS TAENAR WILUAN
ADDRESS	:	93 GRANGE ROAD #02-08 GRANGE RESIDENCES SINGAPORE 249614
POSITION	:	DIRECTOR
DATE OF APPT	:	02/05/2006
NATIONALITY	:	SINGAPORE P.R.
I/C PASSPORT	:	S2624594Z

KEY PERSONNEL PROFILE

Name:	BILLY LEE BENG CHENG
NRIC Number:	S0150107J
Available Address:	53 GENTLE ROAD SINGAPORE 309173

Current Business Interest

No.	Name	Position	Appt Date	#of Share	%
1	ASIAN BUDDHIST FILM FESTIVAL PTE. LTD.	DIRECTOR	25/05/2006	7505	50.00
2	CH OFFSHORE LTD.	DIRECTOR	13/02/2003	-	-
3	KS ENERGY LIMITED	DIRECTOR	15/04/2002	-	-
4	SIT GIAP COMPANY (PRIVATE) LIMITED	DIRECTOR	15/12/2010	22	14.10
5	SYNERGYINTHESKY PTE. LTD.	DIRECTOR	01/03/2010	-	-
6	T. S. LEE & SONS PTE. LTD.	DIRECTOR	14/03/1979	922	46.00
7	YINNRU INVESTMENTS PTE LTD	DIRECTOR	13/01/1996	1	0.00
8	YINNRU INVESTMENTS PTE LTD	MANAGING DIRECTOR	28/10/1996	1	0.00

Previous Business

No.	Name	Status	Position	Appt Date	Last Known Inactive Date
1	ASIASONS CAPITAL LIMITED	LIVE COMPANY	SHAREHOLDER	-	12/01/2012
2	BINTAN RESORT FERRIES PRIVATE LIMITED	LIVE COMPANY	DIRECTOR	18/01/1996	30/11/2011
3	COSEM PTE LTD	DISSOLVED - MEMBERS' VOLUNTARY WINDING UP	DIRECTOR	30/06/1994	30/03/2009
4	FOUNDATION OF ROTARY CLUBS (SINGAPORE) LTD	LIVE COMPANY	SHAREHOLDER	-	12/01/2012
5	GUOCOLAND LIMITED	LIVE COMPANY	DIRECTOR	01/05/1994	13/09/2011
6	HISCOPE INVESTMENTS PTE LTD	DISSOLVED - MEMBERS' VOLUNTARY WINDING UP	DIRECTOR	01/06/1983	-
7	JARDIN ENCHANTE PTE. LTD.	LIVE COMPANY	SHAREHOLDER	-	30/11/2011
8	JURONG MARINE SERVICES PTE LTD	LIVE COMPANY	DIRECTOR	20/01/1992	07/12/2011
9	KARIMUN INVESTMENT HOLDINGS PTE LTD	LIVE COMPANY	DIRECTOR	07/10/1991	21/07/2011
10	KARIMUN SHIPREPAIR & ENGINEERING PTE LTD	LIVE COMPANY	DIRECTOR	20/11/1991	28/07/2011
11	KATOEN NATIE SINGAPORE PTE. LTD.	LIVE COMPANY	DIRECTOR	28/08/1997	19/10/2011
12	KELESTE (SINGAPORE) PTE LTD	DISSOLVED - MEMBERS' VOLUNTARY WINDING UP	DIRECTOR	20/04/1989	01/04/2009
13	KIM PUAT SENG KEE PRIAVTE LIMITED	DISSOLVED - MEMBERS' VOLUNTARY WINDING UP	DIRECTOR	23/12/1971	-
14	MERLIN CONSULTANCY (SEA) PTE LTD	LIVE COMPANY	DIRECTOR/SHR	02/03/1996	10/03/2011
15	MIRACH ENERGY LIMITED	LIVE COMPANY	DIRECTOR	27/04/2004	15/09/2011
16	NORTH CHINA PORTS CONSORTIUM PTE LTD	LIVE COMPANY	DIRECTOR	07/11/1995	06/01/2012
17	OFFSHORE JOINT SERVICES (BASES ) COMPANY OF SINGAPORE PTE LTD	LIVE COMPANY	DIRECTOR	08/01/1994	13/12/2011
18	OFFSHORE JOINT SERVICES COMPANY OF SINGAPORE PTE LTD	DISSOLVED - MEMBERS' VOLUNTARY WINDING UP	DIRECTOR	03/01/1989	29/09/2009
19	PALISADES DEVELOPMENT PRIVATE LIMITED	DISSOLVED - MEMBERS' VOLUNTARY WINDING UP	DIRECTOR & SECRETARY	27/07/1982	-
20	POSH SEMCO PTE. LTD.	LIVE COMPANY	DIRECTOR	01/01/1992	23/12/2011
21	PYRAMID HILL PROPERTIES PTE LTD	LIVE COMPANY	DIRECTOR	08/11/1996	25/08/2011
22	SEMAIR PTE LTD	DISSOLVED - MEMBERS' VOLUNTARY WINDING UP	DIRECTOR	26/10/1998	23/05/2003
23	SEMBAWANG AVIATION PTE LTD	DISSOLVED - MEMBERS' VOLUNTARY WINDING UP	DIRECTOR	18/07/1990	20/11/2009
24	SEMBAWANG CAPITAL PTE LTD	LIVE COMPANY	DIRECTOR	13/04/1992	04/11/2011
25	SEMBAWANG ENGINEERING INVESTMENTS PTE LTD	DISSOLVED - MEMBERS' VOLUNTARY WINDING UP	DIRECTOR	07/12/1993	20/09/2011
26	SEMBAWANG LAND PTE LTD	DISSOLVED - MEMBERS' VOLUNTARY WINDING UP	DIRECTOR	01/07/1996	31/03/2008
27	SEMBAWANG MULPHA PTE LTD	DISSOLVED - MEMBERS' VOLUNTARY WINDING UP	DIRECTOR	17/04/1997	13/03/2006
28	SEMBAWANG PROPERTIES PTE LTD	DISSOLVED - MEMBERS' VOLUNTARY WINDING UP	DIRECTOR	02/06/1998	13/05/2010
29	SEMBAWANG SHIPMANAGEMENT PTE LTD	DISSOLVED - MEMBERS' VOLUNTARY WINDING UP	DIRECTOR	01/01/1994	07/10/2009
30	SEMBAWANG UAE PTE. LTD.	LIVE COMPANY	DIRECTOR	25/02/1988	27/12/2011
31	SEMBAWANG WAH KWONG SHIPPING PTE LTD	STRUCK OFF	DIRECTOR/SHR	03/07/1996	06/10/2003
32	SEMBCORP PROPERTIES PTE LTD	LIVE COMPANY	DIRECTOR	18/09/1996	02/08/2011
33	SEMBROWN EQUIPMENT PTE LTD	DISSOLVED - MEMBERS' VOLUNTARY WINDING UP	DIRECTOR	01/03/1990	-
34	SEMBWIN PTE LTD	DISSOLVED - MEMBERS' VOLUNTARY WINDING UP	DIRECTOR	01/07/1997	-
35	SINGAPORE DALIAN PORT INVESTMENT PTE LTD	LIVE COMPANY	DIRECTOR	07/11/1995	30/12/2011
36	SINGAPORE OIL SPILL RESPONSE CENTRE PTE LTD	LIVE COMPANY	DIRECTOR	15/12/1993	25/11/2011
37	SINGAPORE-SUZHOU TOWNSHIP DEVELOPMENT PTE LTD	LIVE COMPANY	DIRECTOR	20/06/1994	23/12/2011
38	SKY CHINA PETROLEUM SERVICES LTD.	LIVE COMPANY	DIRECTOR	25/10/2005	23/08/2011
39	SML INVESTMENTS PTE LTD	DISSOLVED - MEMBERS' VOLUNTARY WINDING UP	DIRECTOR/SHR	07/04/1993	30/03/2009
40	SML SHIPYARD PTE LTD	LIVE COMPANY	DIRECTOR/SHR	20/12/1994	19/10/2011
41	SOPS INTER-TRANS SERVICES PTE LTD	DISSOLVED - MEMBERS' VOLUNTARY WINDING UP	DIRECTOR	03/12/1993	07/02/2006
42	STRAITS OVERSEAS PTE. LTD.	LIVE COMPANY	DIRECTOR	25/10/1989	10/01/2012
43	SUN CRUISES HOLDINGS PTE LTD	DISSOLVED - MEMBERS' VOLUNTARY WINDING UP	DIRECTOR	15/08/1997	06/11/2009
44	TOLL (SCL) LTD.	LIVE COMPANY	MANAGER	01/01/1992	13/12/2011
45	TOLL AUTO LOGISTICS INVESTMENTS (NO.1) PTE. LTD.	IN LIQUIDATION - MEMBERS' VOLUNTARY WINDING UP	DIRECTOR	07/12/1994	06/01/2011
46	TOLL EXPRESS (ASIA) PTE. LTD.	LIVE COMPANY	DIRECTOR	29/04/1994	02/12/2011
47	TOLL LOGISTICS (ASIA) LIMITED	LIVE COMPANY	DIRECTOR	23/01/1995	10/01/2012
48	TOLL OFFSHORE PETROLEUM SERVICES PTE. LTD.	LIVE COMPANY	DIRECTOR	14/05/1993	10/01/2012
49	U.N.I. EXPRESS (S) PTE LTD	LIVE COMPANY	DIRECTOR	09/07/1984	04/01/2012
50	UIE-PROMET PRIVATE LIMITED	DISSOLVED - MEMBERS' VOLUNTARY WINDING UP	DIRECTOR	26/08/1985	-

Bankruptcy Record

Case No.	Year	Date of Filing	Petitioner Name	Amount
No Trace

Note: Please purchase case details to know the latest status.

Litigation Search – Writ of Summons

Court	Case No.	Year	Date of Filing	Amount	Cause Category
M	1977	2005	25/01/2005	SGD 3,570.00	Negligence Related

SUBSIDIARIES AND ASSOCIATE COMPANIES

Company	Shareholdings (%)

KS OILFIELD EQUIPMENT PTE. LTD.	100
KS FABRICATION AND ENGINEERING PTE. LTD.	100
UNITED OILFIELD SERVICES PTE. LTD.	100
HARTA HOLDING PTE. LTD.	100
KS RESOURCES PTE. LTD.	100
KS DRILLING PTE. LTD.	100
KS DISTRIBUTION PTE. LTD.	100
GLOBAL OILFIELD SERVICES PTE. LTD.	50
YAKKI INTERNATIONAL PTE. LTD.	50

BANKERS/ FINANCIERS

Subject enjoys a normal banking routine with its bankers. To date, there are no bank charges registered against Subject by its bankers.

LITIGATION

The following litigation suits were traced against Subject. Case status is as per available in DP Information Network Pte Ltd database. For the latest status of the suit, please obtain the full details of the suit through Litigation Detail Search (DLIT) offered by DP Information Network Pte Ltd.

To date, there have been 3 litigation suits filed against Subject.

	Current Year On/After 01 Jan 2012	Past Years Bef 01 Jan 2012

Court (Claim under normal circumstances)
Magistrate (< $80,000)	0	1
District ($80,000 - $250,000)	0	1
High (>$250,000)	0	1

Winding Up Trace		No
In litigation/Dissolved/Struck Off/In receivership		No

The details are as follows:

1)	Court	:	District Court
	Case No.	:	4007
	Date of Filing	:	01/09/2003
	Amount	:	0.00
	Cause	:	Negligence - Motor Accidents (Injuries)
	Case Status	:	CONCLUDED
	Plaintiff	:	SAHARUDIN BIN ASMIN
	Last Update Date in DP Info Database	:	27/08/2007

2)	Court	:	Magistrate Court
	Case No.	:	26719
	Date of Filing	:	05/11/2004
	Amount	:	9,011.93
	Cause	:	Tort - Negligence (Professional Accidents Without Death/ Injury)
	Case Status	:	CONCLUDED
	Plaintiff	:	YEOW CHING PING
	Last Update Date in DP Info Database	:	27/08/2007

3)	Court	:	Supreme Court
	Case No.	:	900
	Date of Filing	:	23/10/2009
	Amount	:	15,000,000.00
	Cause	:	Contract - Sale of Goods & Services
	Case Status	:	PENDING
	Plaintiff	:	BR ENERGY (M) SDN BHD
	Last Update Date in DP Info Database	:	10/01/2012

COMPLIANCE RECORDS

Date of Last AGM	:	28/04/2011
Date of Last AR	:	27/05/2011
Date of A/C Laid At Last AGM	:	31/12/2010

FINANCIAL HIGHLIGHTS

Financial Figures	Group
	DEC 2010	% Change	DEC 2009	DEC 2008	DEC 2007	DEC 2006
Currency	SGD - SIN		SGD - SIN	SGD - SIN	SGD - SIN	SGD - SIN
Profit and Loss Key Figures
Turnover	509,493,000	-21.19	646,517,000	611,022,000	402,700,000	295,132,000
Profit/(Loss) Before Tax	(87,805,000)	NA	57,398,000	65,542,000	92,933,000	64,906,000
Profit After Tax attributable to Shareholders	(95,812,000)	NA	47,036,000	60,333,000	79,759,000	54,923,000

Balance Sheet Key Figures
Total Assets	905,132,000	-11.50	1,022,785,000	930,644,000	773,309,000	322,327,000
Current Assets	414,734,000	-7.48	448,257,000	340,245,000	498,103,000	198,507,000
Non Current Assets	490,398,000	-14.64	574,528,000	590,399,000	275,206,000	123,820,000

Total Liabilities	440,386,000	-8.07	479,047,000	511,704,000	531,692,000	143,206,000
Current Liabilities	236,199,000	-35.88	368,348,000	296,999,000	306,005,000	125,237,000
Non Current Liabilities	204,187,000	84.45	110,699,000	214,705,000	225,687,000	17,969,000

Shareholders' Funds	464,746,000	-14.53	543,738,000	418,940,000	241,617,000	179,121,000
Share Capital	319,066,000	39.35	228,962,000	228,962,000	75,941,000	27,771,000
Total Reserves	145,680,000	-53.72	314,776,000	189,978,000	165,676,000	151,350,000

FINANCIAL RATIOS

	Group
	DEC 2010	DEC 2009	DEC 2008	DEC 2007	DEC 2006
Growth %
Year-on-Year Growth	-21.19	5.81	51.73	36.45	NA

Profitability
Profit Margin (%)	NA	7.28	9.87	19.81	18.61
Return on Equity (%)	NA	8.65	14.40	33.01	30.66
Return on Assets (%)	NA	4.60	6.48	10.31	17.04

Leverage
Total Debt/Equity (Times)	0.95	0.88	1.22	2.20	0.80
Current Debt/Equity (Times)	0.51	0.68	0.71	1.27	0.70
Long Term Debt To Equity (Times)	0.44	0.20	0.51	0.93	0.10
Total Asset To Total Equity (Times)	1.95	1.88	2.22	3.20	1.80

Asset Management
Total Assets Turnover (Times)	0.56	0.63	0.66	0.52	0.92
Fixed Assets Turnover (Times)	1.04	1.13	1.03	1.46	2.38

Liquidity
Current Ratio (Times)	1.76	1.22	1.15	1.63	1.59

FINANCIAL COMMENTARY

Compound Annual Growth Rate

The company's CAGR is 14.63% (4 years).

CAGR is the year-over-year growth rate of a company over a specified period. Instead of looking at the average growth rate, CAGR allow users to look at the annualized growth rate of a company over a given period, a more indicative measure of growth of a company’s performance over a given period.

Profitability

We are unable to comment on Subject's profitability.

Liquidity

Current ratio stood at 1.76 times in FY10. This means that the group has SGD - SIN 1.76 of current assets for every SGD - SIN of current liability incurred.

A minimum figure of 1.0 would be considered the lowest limit that this figure should reach. Any business that has a current ratio near 1.0 may be heading for liquidity problems, and would need to be closely monitored. A figure greater than 2.0 would be more desirable, to act as a buffer against any short-term liquidity problems, and give creditors/bank managers a degree of comfort when granting credit/finance.

FINANCIAL COMMENTARY

Leverage

Total debt-to-equity ratio notched 0.95 times in FY10. This means that the group requires additional external financing of SGD - SIN 0.95 for every SGD - SIN injected into its operations.

Generally, a total debt-to-equity ratio of less than 0.5 times is preferred. The ratio measures the proportion of the company's reliance on external debt for financing, relative to the shareholder's fund. A lower ratio would imply a greater financial safety and operating freedom for the company.

Efficiency Ratio

We are unable to comment on Subject's return on equity.

We are unable to comment on Subject's return on assets.

Total assets turnover ratio logged at 0.56 times in FY10. This ratio measures the group's ability to make productive use of its total assets to generate sales which reflects the efficiency of the management in utilising its resources.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.51.43
UK Pound	1	Rs.79.10
Euro	1	Rs.66.17

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.

MIRA INFORM REPORT

Executive Summary

Credit Recommendation

SHAREHOLDER DETAILS

OFFICER DETAILS

OFFICER DETAILS

KEY PERSONNEL PROFILE

BANKERS/ FINANCIERS

LITIGATION

Bef 01 Jan 2012

COMPLIANCE RECORDS

FINANCIAL HIGHLIGHTS

FINANCIAL RATIOS

FINANCIAL COMMENTARY

Compound Annual Growth Rate

Unit