MIRA INFORM REPORT

Report Date :

07.07.2012

IDENTIFICATION DETAILS

Name :	PPI TECHNOLOGY SERVICES MIDDLE EAST LTD

Registered Office :	4 Road No. 258, New Maadi, Degla, Cairo

Country :	Egypt

Year of Establishment :	2005

Legal Form :	Branch of a Foreign Registered Corporation

Line of Business :	EPC contractors

No. of Employees :	35

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 :	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 – March 31^st, 2012

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Egypt

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

SUMMARY

Company Name : PPI TECHNOLOGY SERVICES MIDDLE EAST LTD

Country of Origin : United States of America

Legal Form : Branch of a Foreign Registered Corporation

Registration Date : 2005

Total Workforce : 35

Activities : EPC contractors

Financial Condition : Undetermined

Payments : Nothing detrimental uncovered

Person Interviewed : Hesham Khalifa, Assistant General Manager

COMPANY NAME

PPI TECHNOLOGY SERVICES MIDDLE EAST LTD

company ADDRESS

Registered & Physical Address

Location : 4 Road No. 258, New Maadi, Degla

Town : Cairo

Country : Egypt

Telephone : (20-2) 25173792 / 22751540 / 22751540

Facsimile : (20-2) 25173791

Email : info@ppime.com

Premises

Subject operates from a medium sized suite of offices that are rented and located in the Central Business Area of Cairo.

KEY PRINCIPALS

Name Position

· Ahmed Ismail Allam General Manager

· Hesham Khalifa Assistant General Manager

LEGAL FORM & OWNERS

Date of Establishment : 2005

Legal Form : Subject is the Egyptian registered branch of West Engineering, a Limited Liability Company incorporated in the United States of America.

PPI Technology Services Middle East Ltd in Egypt, operates as a Branch of a Foreign

Registered Corporation.

A Branch of a Foreign Registered Corporation is not a legal entity in its own right.

Responsibility for payments lays in the hands of the company where it is originally

registered. It is basically an extension of an existing company abroad and does not require a local partner or sponsor.

Under these circumstances, we strongly advise that any international trade credit should

only be written under the name of the main company where the subject holds its registered office, in this case the United States of America.

OPERATIONS

Activities: Engaged as EPC contractors, providing electro mechanical, civil and drilling works.

Subject has a workforce of 35 employees.

FINANCIAL DATA

Companies registered in Egypt are not legally required to make their accounts public and no financial information was released by the company or submitted by outside sources.

BANKERS

· Citibank

PO Box: 188

Cairo

Tel: (20-2) 33551877 / 33551874

Fax: (20-2) 33558056

PAYMENT HISTORY

No complaints regarding subject’s payments have been reported.

GENERAL COMMENTS

During the course of this investigation nothing detrimental was uncovered regarding subject’s operating history or the manner in which payments are fulfilled. As such the company is considered to be a fair trade risk.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.55.42
UK Pound	1	Rs.86.04
Euro	1	Rs.68.61

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%)

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.