MIRA INFORM REPORT

Report Date :

12.07.2012

IDENTIFICATION DETAILS

Name :	R & N KHIMJI LLC
Registered Office :	Building No. 1765, Way No. 5222, Ghala Industrial Area, P O Box 2453, Ruwi, Muscat 112
Country :	Oman
Financials (as on) :	31.12.2011
Date of Incorporation :	04.10.1982
Com. Reg. No.:	1/17005/8
Legal Form :	Limited Liability Company
Line of Business :	Distributors of building materials, tools and hardware
No. of Employees :	35

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

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)
Oman	A2	A2

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

SUMMARY

Company Name : R & N KHIMJI LLC

Country of Origin : Oman

Legal Form : Limited Liability Company – LLC

Registration Date : 4^th October 1982

Commercial Registration Number : 1/17005/8

Issued Capital : RO 150,000

Paid up Capital : RO 150,000

Total Workforce : 35

Activities : Distributors of building materials, tools and hardware

Financial Condition : Fair

Payments : Nothing detrimental uncovered

Operating Trend : Steady

COMPANY NAME

R & N KHIMJI LLC

company ADDRESS

Registered & Physical Address

Building : Building No. 1765

Street : Way No. 5222

Area : Ghala Industrial Area

PO Box : 2453, Ruwi

Town : Muscat 112

Country : Oman

Telephone : (968) 24502111 / 24834483

Facsimile : (968) 24503111 / 24836190

Email : rnk@rkhimjigroup.com / mklle@omantel.net.om

Premises

Subject operates from a medium sized suite of offices and a warehouse that are rented and located in the Industrial Area of Muscat.

KEY PRINCIPALS

Name Position

· Ramesh J Khimji Managing Director

· Aaditya Khimji Director

· Ravi K Toprani General Manager

· Mahes B Shah Financial Controller

LEGAL FORM & OWNERS

Date of Establishment : 4^th October 1982

Legal Form : Limited Liability Company – LLC

Commercial Reg. No. : 1/17005/8

Issued Capital : RO 150,000

Paid up Capital : RO 150,000

Name of Shareholder (s)

· Ramesh J Khimji

· Aaditya Khimji

AFFILIATED COMPANIES

· Muscat Industrial Co LLC

Muscat

· Ramesh Khimji Trading Est.

Dubai

· J K Enterprises

Muscat

OPERATIONS

Activities: Engaged in the import and distribution of building materials, tools and hardware.

Import Countries: Europe and the Far East.

Operating Trend: Steady

Subject has a workforce of 35 employees.

FINANCIAL DATA

Financial highlights provided by local sources are given below:

Currency: Riyal Omani (RO)

Year Ending 31/12/10: Year Ending 31/12/11:

Total Sales RO 1,880,000 RO 1,950,000

Local sources consider subject’s financial condition to be Fair.

The above financial figures are based on estimations by our local sources.

BANKERS

· National Bank of Oman Limited (SAOG)

Muttrah Business District

PO Box: 751, Ruwi 112

Muscat

Tel: (968) 24708894 24708630 / 24708684

Fax: (968) 24707781 / 24703972

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.55.37
UK Pound	1	Rs.85.95
Euro	1	Rs.67.87

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.