MIRA INFORM REPORT

Report Date :

04.06.2012

IDENTIFICATION DETAILS

Name :	CTMI TURBO MACHINERY FZC
Registered Office :	RAK Free Zone, P O Box 17025, Ras Al Khaimah
Country :	United Arab Emirates
Date of Incorporation :	25.08.2010
Legal Form :	Free Zone Company
Line of Business :	Supply and installation of steam turbines and turbo generators
No. of Employees :	03

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)
United Arab Emirates	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 : CTMI TURBO MACHINERY FZC

Country of Origin : Ras Al Khaimah, United Arab Emirates

Legal Form : Free Zone Company - FZC

Registration Date : 25^th August 2010

Trade Licence Number : 500450

Issued Capital : UAE Dh 200,000

Paid up Capital : UAE Dh 200,000

Total Workforce : 3

Activities : Supply and installation of steam turbines and turbo generators.

Financial Condition : Undetermined

Payments : Nothing detrimental uncovered

Person Interviewed : Riaz M Paracha, General Manager

COMPANY NAME

CTMI TURBO MACHINERY FZC

company ADDRESS

Registered Address

Location : RAK Free Zone

PO Box : 17025

Town : Ras Al Khaimah

Country : United Arab Emirates

Mobile : (971-55) 5519238

Physical Address

Location : 723 Fairmont Hotel

PO Box : 65736

Town : Dubai

Country : United Arab Emirates

Telephone : (971-4) 3124996

Facsimile : (971-4) 3124997

Email : ctmifc@gmail.com

Premises

Subject operates from a small suite of offices that are rented and located in the Central Business Area of Dubai.

KEY PRINCIPALS

Name Position

· Mayank Lalwani Managing Director

· Riaz M Paracha General Manager

LEGAL FORM & OWNERS

Date of Establishment : 25^th August 2010

Legal Form : Free Zone Company - FZC

Trade Licence No. : 500450

Issued Capital : UAE Dh 200,000

Paid up Capital : UAE Dh 200,000

Name of Shareholder (s)

· Mayank Lalwani

· Members of Mr Mayank Lalwani’s family

OPERATIONS

Activities: Engaged in the supply and installation of steam turbines and turbo generators.

Import Countries: Europe and the Far East.

Subject has a workforce of 3 employees.

FINANCIAL DATA

Companies registered in Ras Al Khaimah, United Arab Emirates are not legally required to make their accounts public and no financial information was released by the company or submitted by outside sources.

BANKERS

· HSBC Bank Middle East

Deira Souk Branch

PO Box: 66

Dubai

Tel: (971-4) 2535000

PAYMENT HISTORY

No complaints regarding subject’s payments have been reported.

GENERAL COMMENTS

Local sources report that the subject’s operating history is clear with payment obligations met in a generally timely manner. The financial position is satisfactory and the business is deemed a fair trade risk.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.55.92
UK Pound	1	Rs.86.03
Euro	1	Rs.69.13

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.