MIRA INFORM REPORT

Report Date :

13.06.2012

IDENTIFICATION DETAILS

Name :	RAIS HASSAN SAADI LOGISTICS LLC

Registered Office :	Sheikh Zayed Road, Jebel Ali Free Zone, P O Box 7, Dubai

Country :	United Arab Emirates

Financials (as on) :	31.12.2011

Date of Incorporation :	29.05.2003

Legal Form :	Limited Liability Company

Line of Business :	Provision of logistics solutions

No. of Employees :	65

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)

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 : RAIS HASSAN SAADI LOGISTICS LLC

Also Known As : RHS LOGISTICS LLC

Country of Origin : Dubai, United Arab Emirates

Legal Form : Limited Liability Company - LLC

Registration Date : 29^th May 2003

Trade Licence Number : 1716

Chamber Membership Number : 76361

Issued Capital : UAE Dh 300,000

Paid up Capital : UAE Dh 300,000

Total Workforce : 65

Activities : Provision of logistics solutions.

Financial Condition : Fair

Payments : Nothing detrimental uncovered

Operating Trend : Steady

Person Interviewed : Krishnan Nair, Finance Manager

COMPANY NAME

RAIS HASSAN SAADI LOGISTICS LLC

ALSO KNOWN AS:

RHS LOGISTICS LLC

company ADDRESS

Registered & Physical Address

Street : Sheikh Zayed Road

Area : Jebel Ali Free Zone

PO Box : 7

Town : Dubai

Country : United Arab Emirates

Telephone : (971-4) 8810007

Facsimile : (971-4) 8810008 / 8810009

Email : rhslog@rhslogistics.com

Premises

Subject operates from a medium sized suite of offices and warehousing that are rented and located in the Jebel Ali Free Zone, Dubai.

KEY PRINCIPALS

Name Nationality Position

· Saleem Abdul Rahim Hassan Saadi Al Rais Emirati Managing Director

· Saadi Abdul Rahim Hassan Saadi Al Rais Emirati Director

· Richard Bell - General Manager

· Krishnan Nair - Finance Manager

· Bernard Diaz - Operations Manager

LEGAL FORM & OWNERS

Date of Establishment : 29^th May 2003

Legal Form : Limited Liability Company - LLC

Trade Licence No. : 1716 (Expires 30/06/2012)

Chamber Member No. : 76361

Issued Capital : UAE Dh 300,000

Paid up Capital : UAE Dh 300,000

Name of Shareholder (s)

· Saleem Abdul Rahim Hassan Saadi Al Rais

· Saadi Abdul Rahim Hassan Saadi Al Rais

AFFILIATED COMPANIES

· Al Hilal Shipping Agency LLC

Al Saadi Building

Khalid Bin Waleed Road

PO Box: 51082

Dubai

Tel: (971-4) 3936388

Fax: (971-4) 3936319

· Rais Hassan Saadi LLC

Al Mankhool Road

Dubai

Tel: (971-4) 3521515

Fax: (971-4) 3526412

· Trident Shipping LLC

Khalid Bin Waleed Road

Bur Dubai

Dubai

Tel: (971-4) 3935511

Fax: (971-4) 3935757

· Rais Hassan Saadi & Co LLC

Rashid Abdul Aziz Al Makhawi Building, 5^th Floor

Tourist Club Area

PO Box: 465

Abu Dhabi

Tel: (971-2) 6446747

Fax: (971-2) 6445750

· Sunmarine Shipping Services LLC

RHS Main Building, Suite 501

Mankhool Street

Bur Dubai

Dubai

Tel: (971-4) 3523800

Fax: (971-4) 3517463

· Cosraco LLC

RHS Main Building, Suite 501

Mankhool Street

Bur Dubai

Dubai

Tel: (971-4) 3555020

Fax: (971-4) 3555154

· Rais Hassan Saadi General Trading LLC

Rais Hassan Saadi Building, Mezzanine Floor

Khalid Bin Waleed Street

Dubai

Tel: (971-4) 3930950

Fax: (971-4) 3931367

· Homeland Properties

RHS Main Building, 7^th Floor, Office 7-3

Mankhool Street

Dubai

Tel: (971-4) 3595642

Fax: (971-4) 3595648

· Trident Freight LLC

PO Box: 52621

Dubai

Tel: (971-4) 3936377

Fax: (971-4) 3937313

OPERATIONS

Activities: Engaged in the provision of logistics solutions, including cargo packaging, freight forwarding, general

warehousing and customs broker.

Facilities

State of the art Warehouse in Jebel Ali Free Zone Capacity is 50,000 pallets on 50,000 sq. m plot.
State of the art Warehouse in Dubai Airport Free Zone Capacity is 7,000 pallets on 6,000 sq. m plot.
Facility under Construction in Dubai World Central Capacity will be 50,000 pallets on 53,000 sq. m plot. (expected completion Q1 2013)

Operating Trend: Steady

Subject has a workforce of 65 employees.

FINANCIAL DATA

Financial highlights provided by local sources are given below:

Currency: United Arab Emirates Dirham (UAE Dh)

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

Total Sales UAE Dh 31,250,000 UAE Dh 35,000,000

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

The above figures were provided by Mr Krishnan Nair, Finance Manager

BANKERS

· Commercial Bank of Dubai

Jebel Ali Branch

PO Box: 2668

Dubai

Tel: (971-4) 8818882

Fax: (971-4) 8812252

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.56.05
UK Pound	1	Rs.86.69
Euro	1	Rs.69.98

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.