MIRA INFORM REPORT

Report Date :

06.07.2012

IDENTIFICATION DETAILS

Name :	RAFI AGRI FOODS INTERNATIONAL FZC

Registered Office :	B 3-11, Saif Zone, P O Box 8121, Sharjah

Country :	United Arab Emirates

Date of Incorporation :	17.11.2011

Legal Form :	Free Zone Company

Line of Business :	Distribution of frozen foodstuff, meat and fruits

No. of Employees :	35

RATING & COMMENTS

MIRA’s Rating :

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

Status :	Moderate
Payment Behaviour :	Unknown
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 : RAFI AGRI FOODS INTERNATIONAL FZC

Country of Origin : Sharjah, United Arab Emirates

Legal Form : Free Zone Company - FZC

Registration Date : 17^th November 2011

Trade Licence Number : 01-04-09955

Issued Capital : UAE Dh 250,000

Paid up Capital : UAE Dh 250,000

Total Workforce : 35

Activities : Distribution of frozen foodstuff, meat and fruits.

Financial Condition : Undetermined

Payments : Nothing detrimental uncovered

COMPANY NAME

RAFI AGRI FOODS INTERNATIONAL FZC

company ADDRESS

Registered & Physical Address

Location : B 3-11, Saif Zone

PO Box : 8121

Town : Sharjah

Country : United Arab Emirates

Telephone : (971-6) 5570286

Facsimile : (971-6) 5570291

Email : info@rafiintl.com / samjaffari@rafiintl.com

Premises

Subject operates from a medium sized suite of offices and a warehouse that are rented and located in the Saif Zone, Sharjah.

KEY PRINCIPALS

Name Nationality Position

· Sayed Ali Manwar Jaffari Indian Managing Director

· Ivan Morais - Commercial Manager

· Gopal Krishnan - Financial Manager

LEGAL FORM & OWNERS

Date of Establishment: 17^th November 2011

Legal Form : Free Zone Company - FZC

Trade Licence No. : 01-04-09955 (Expires 16/11/2012)

Issued Capital : UAE Dh 250,000

Paid up Capital : UAE Dh 250,000

Name of Shareholder (s)

· Roland A Chisholm Ltd

Canada

· Sayed Ali Manwar Jaffari

OPERATIONS

Activities: Subject’s operations are performed through the following divisions:

· Oil & Gas Division

Engaged in the import and distribution of equipment for petrochemical and power industries, such as pumps, compressors, storage tanks, gauges, water treatment plants.

· Packaging Division

Engaged in the manufacture of packaging items, such as: corrugated cartons, labels & shrink sleeves.

· Food Division

Engaged in the import and distribution of food stuff and beverages, such as: juices, milk powders, dried fruits, rice, spices cakes and nuts.

Import Countries: Europe and the Far East.

Subject has a workforce of 35 employees.

FINANCIAL DATA

Subject is a newly formed business and as a result financial information is not currently available.

BANKERS

· National Bank of Sharjah

Al Boorj Avenue

PO Box: 4

Sharjah

Tel: (971-6) 5547747

PAYMENT HISTORY

No complaints regarding subject’s payments have been reported.

GENERAL COMMENTS

In view of subject’s infancy, extensive payment and financial are not available, therefore dealings are recommended to be on secured terms, and a close monitoring of subject’s business development is advisable.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.55.03
UK Pound	1	Rs.85.93
Euro	1	Rs.68.97

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.