MIRA INFORM REPORT

Report Date :

20.06.2012

IDENTIFICATION DETAILS

Name :	FACTUM-YUG, LLC
Registered Office :	113A Kirova ave., Dnipropetrovsk, Dnipropetrovsk region, 49061
Country :	Ukraine
Financials (as on) :	30.06.2011
Year of Establishment :	1993
Com. Reg. No.:	02050775
Legal Form :	TOV (Limited Liability Company by Ukrainian Law)
Line of Business :	Wholesale of coffee, tea, cocoa and spices
No. of Employees :	70

RATING & COMMENTS

MIRA’s Rating :

B

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

Status :	Moderate
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)
Ukraine	B2	B2

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

Identification

Full Name

:

Tovarystvo z Obmezhenoyu Vidpovidalnistyu FAKTUM-YUG

Name in English

:

FACTUM-YUG, LLC

Name in national language

:

?????????? ? ????????? ???????????????? ??????-??

Office address

:

113A Kirova ave., Dnipropetrovsk, Dnipropetrovsk region, 49061, Ukraine

Legal Address

:

4 Kurchatova str., Dnipropetrovsk, Dnipropetrovsk region, 49000, Ukraine

Contacts

:

-	Phone/fax	:	(+38 056) 7703009, 7700533
-	E-mail	:	factumtea@a-teleport.com

SUMMARY

Legal Form : TOV (Limited Liability Company by Ukrainian Law)

Incorporation : 1993

Staff : 70

Litigation events : n/a Remarks on payments : n/a

Sales :	20 734.00 th UAH ( for 6 months, ended 30.06.2011 )
	38 249.00 th UAH ( for 12 months, ended 31.12.2010 )

Incorporation

:

1993

Registration Data

Date of registration

:

30.09.1993

Registration number

:

02050775

Registr. authority

:

Local Executive Committee (Dnipropetrovsk, Dnipropetrovsk region, Ukraine)

VAT number

:

020507704662

Registr. place

:

Ukraine

Number of VAT-certificate: 04498336 Date of issue: 15.08.1997

Legal Form

:

TOV (Limited Liability Company by Ukrainian Law)

since 30.09.1993

Share Capital

:

8 000 000 UAH (registered)

since 24.12.2010

Shareholders

:

-	Mr Ryvlin Valeriy Aleksandrovich (Ukraine)				50.00 %
		share's book value	:	4 000 000 UAH
-	Mr Ryvlin Stanislav Valeryevich (Ukraine)				50.00 %
		share's book value	:	4 000 000 UAH

Board / Executives

Executives

Director

:

Mr Ryvlin Valeriy Aleksandrovich (Ukraine)

Authorised signature

:

Mr Ryvlin Valeriy Aleksandrovich

Changes in Registration Data

- 24.12.2010

:

share capital

- 19.08.2009

:

share capital

- 10.04.2001

:

share capital

Activities

:

-	5149	Coffee & Tea
		(NACE 5137: Wholesale of coffee, tea, cocoa and spices)
-	7389	Packaging & Labeling Svcs
		(NACE 7487: Other business activities n.e.c.)

Packaging and wholesale of tea (trade mark Qualitea, Gokal, Genex, Lord Byron) and coffee (trade mark Manhattan).

Staff employed

:

70 [E]

Staff History

:

-	70 [E]
	( the data as of 09.03.2011 )
-	60
	( the data as of 31.03.2010 )

Export

:

none

Import

- 01.03.2012

:

Fiscal period: 2 month(s), currency: UAH

3 612 654.00

Belgium, China, Sri Lanka, Poland

- 01.05.2011

:

Fiscal period: 4 month(s), currency: UAH

6 091 070.00

- 01.01.2011

:

Fiscal period: 12 month(s), currency: UAH

16 068 139.00

- 01.01.2010

:

Fiscal period: 12 month(s), currency: UAH

14 873 397.00

Sri Lanka, India, Poland, Belgium, China

Facilities

Real estate

:

rent:
-	Premises - Office
	address	:	113A Kirova ave., Dnipropetrovsk, Dnipropetrovsk region, 49061, Ukraine

Branches

:

none

Subsidiaries and Participation

:

-	Lebid, LLC (Ukraine)				share n/a
		reg. number	:	22145745
-	OGD-Slaviya, LLC (Ukraine)				share n/a
		reg. number	:	13428685

Bankers

:

-	Promekonombank (Ukraine)
	bank code	:	306481
-	Ukrsotsbank (Ukraine)
	bank code	:	305017

Suppliers

:

-	HUNAN TEA CO.LTD (China)
-	J.V.GOKAL & CO.PVT.LTD (India)
-	QUALITEA CEYLON (PVT)LTD (Sri Lanka)
-	SAS N.V. (Belgium)
-	Santia (Poland)

Litigation

:

According to the data of Bulletin of the State Registration as of 15.06.2012, there are no bankruptcy registered in the name of the subject company.

Generally in the DB of the Unified State Register of the Legal Judgements data there have been traced 7 court records where the subject company is filed as a defendant and claimant in the period from 26.01.2010 up to 30.06.2011. There are no bankruptcy/insolvency records filed. These litigation processes arise in the course of company's usual operation.

Remarks on payment

:

No official information is available according to the Ukrainian legislation.

Financial Elements

Period, months	6	12	12
Ended	30.06.2011	31.12.2010	31.12.2009
Currency	UAH th	UAH th	UAH th
Non-current assets	522.00	608.00	1 154.00
incl: - Fixed assets	519.00	608.00	763.00
- Financial assets	0.00	0.00	391.00
Current assets	15 941.00	16 408.00	13 896.00
incl: - Stock	5 503.00	5 410.00	5 565.00
- Debtors	9 957.00	10 586.00	8 310.00
- Cash	481.00	405.00	21.00
ASSETS TOTAL	16 463.00	17 016.00	15 050.00
Equity	5 900.00	5 100.00	2 481.00
incl: - Share capital	8 000.00	8 000.00	6 000.00
Liabilities Total	10 563.00	11 916.00	12 569.00
incl: - Long-term liabilities	0.00	0.00	0.00
- Short-term liabilities	10 563.00	11 916.00	12 569.00
EQUITY AND LIABILITIES TOTAL	16 463.00	17 016.00	15 050.00
Net sales	20 734.00	38 249.00	32 280.00
Cost of goods sold	10 323.00	22 106.00	18 444.00
Operating profit	1 039.00	825.00	676.00
Profit before taxation	1 039.00	825.00	676.00
Net profit	800.00	619.00	507.00
- - - - - - - KEY RATIOS - - - - - - -
Return on sales, %	5.01	2.16	2.09
Profit before taxation / Net sales
Operating margin of profit, %	5.01	2.16	2.09
Operating profit / Net sales
Return on investment, %	17.61	16.18	27.25
Profit before taxation / Equity
Current assets turnover	1.30	2.33	2.32
Net sales / Current assets
Working capital	5 378.00	4 492.00	1 327.00
Current assets - Short-term liabilities
Leverage	0.36	0.30	0.16
Equity / Total assets
Current ratio	1.51	1.38	1.11
Current assets / Short-term liabilities
Quick ratio	0.99	0.92	0.66
(Current assets - Stock) / Short-term liabilities
Debt-to-equity ratio	1.79	2.34	5.07
Total liabilities / Equity

The company is registered as a taxpayer at the State Tax Administration.

FINAL COMMENTS

The information given in this report was collected from all the sources accessible. We contacted Mrs Elena Poluhova (deputy director) on 15.06.2012 by the tel. number: +38 056 7703009. She confirmed the general information about the Company. We sent the letter of inquiry to the Company by the e-mail: factumtea@a-teleport.com, but there was no reply received by now. If we receive additional information we will inform you at once.

APPENDIX A

Financial Statements

Period, months	6	12	12
Ended	30.06.2011	31.12.2010	31.12.2009
Currency	UAH th	UAH th	UAH th
PROFIT AND LOSS ACCOUNT (s)
010 Sales revenue (Income from sales of goods, work,	20 734.00	38 249.00	32 280.00
services
015 VAT tax	3 456.00	6 375.00	5 380.00
020 Excise tax	0.00	0.00	0.00
025
030 Other compulsory payments	182.00	1 145.00	681.00
035 Net sales revenue	17 096.00	30 729.00	26 219.00
040 Cost of goods, work, services	10 323.00	22 106.00	18 444.00
050 Gross profit	5 067.00	8 623.00	7 775.00
055 Gross loss	0.00	0.00	0.00
060 Other operating income	0.00	0.00	0.00
070 Administrative and management costs	1 396.00	7 798.00	7 099.00
080 Distribution costs	2 515.00	0.00	0.00
090 Other operating charges	117.00	0.00	0.00
100 Operating profit	1 039.00	825.00	676.00
105 Operating loss	0.00	0.00	0.00
110 Income from capital participating	0.00	0.00	0.00
120 Other financial income	0.00	0.00	0.00
130 Other income	0.00	0.00	0.00
140 Financial charges	0.00	0.00	0.00
150 Capital participating expenses	0.00	0.00	0.00
160 Other expenses	0.00	0.00	0.00
170 Profit from ordinary activity before taxation	1 039.00	825.00	676.00
175 Loss from ordinary activity before taxation	0.00	0.00	0.00
180 Ordinary activity Income-tax	239.00	206.00	169.00
190 Profit from ordinary activity	800.00	619.00	507.00
195 Loss from ordinary activity	0.00	0.00	0.00
200 Extraordinary income	0.00	0.00	0.00
205 Extraordinary charges	0.00	0.00	0.00
210 Extraordinary activity Income-Tax	0.00	0.00	0.00
220 Net profit	800.00	619.00	507.00
225 Net loss	0.00	0.00	0.00
Operating charges details:
230 Tangible expenses	0.00	0.00	0.00
240 Payroll costs	503.00	777.00	533.00
250 Allocation to social needs	182.00	281.00	193.00
260 Amortization charges	95.00	176.00	157.00
270 Other operating charges	616.00	6 564.00	6 216.00
280 Operating charges total	1 396.00	7 798.00	7 099.00
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
BALANCE SHEET
ASSETS
I. NON-CURRENT ASSETS
Intangible assets
010 residual value	3.00	0.00	0.00
011 acquisition cost	8.00	4.00	4.00
012 depreciation	5.00	4.00	4.00
020 Construction in progress	0.00	0.00	0.00
Fixed assets
030 residual assets	519.00	608.00	763.00
031 acquisition cost	1 889.00	1 885.00	1 864.00
032 depreciation	1 370.00	1 277.00	1 101.00
Long-term financial assets
040 Capital participation in other enterprises	0.00	0.00	0.00
045 Other financial investments	0.00	0.00	391.00
050 Long-term accounts receivable	0.00	0.00	0.00
060 Deferred tax charges	0.00	0.00	0.00
070 Other non-current assets	0.00	0.00	0.00
080 NON-CURRENT ASSETS TOTAL	522.00	608.00	1 154.00
II. CURRENT ASSETS
Stock
100 Raw materials, consumables and supplies	3 180.00	2 452.00	1 799.00
110 Working and productive animals	0.00	0.00	0.00
120 Construction in progress	0.00	0.00	0.00
130 Finished goods	1 623.00	1 259.00	1 918.00
140 Goods for resale	700.00	1 699.00	1 848.00
150 Bills of exchange receivable	0.00	0.00	0.00
Trade debtors:
160 net realizable value	9 957.00	10 264.00	8 273.00
161 acquisition cost	9 957.00	10 264.00	8 273.00
162 doubtful debts reserve	0.00	0.00	0.00
Accounts receivable
170 Budget accounts receivable	0.00	0.00	37.00
180 Payments in advance	0.00	0.00	0.00
190 Accrued income	0.00	0.00	0.00
200 Internal payments	0.00	0.00	0.00
210 Other current accounts receivable	0.00	322.00	0.00
220 Current financial investments	0.00	0.00	0.00
Cash at bank and in hand
230 Funds in local currency	481.00	405.00	21.00
240 Funds in foreign currencies	0.00	0.00	0.00
250 Other current assets	0.00	7.00	0.00
260 CURRENT ASSETS TOTAL	15 941.00	16 408.00	13 896.00
270 III. DEFERRED CHARGES	0.00	0.00	0.00
280 ASSETS TOTAL	16 463.00	17 016.00	15 050.00
EQUITY AND LIABILITIES
I. CAPITAL AND RESERVES
300 Authorized capital	8 000.00	8 000.00	6 000.00
310 Share capital	0.00	0.00	0.00
320 Additional contributed capital	0.00	0.00	0.00
330 Other additional capital	0.00	0.00	0.00
340 Reserve capital	0.00	0.00	0.00
350 Retained earnings (loss)	-2 100.00	-2 900.00	-3 519.00
360 Unpaid capital (minus)	0.00	0.00	0.00
370 Retired capital (minus)	0.00	0.00	0.00
380 CAPITAL AND RESERVES TOTAL	5 900.00	5 100.00	2 481.00
II. PROVISIONS FOR EXPENSES AND
LIABILITIES
400 Provisions for payments to personnel	0.00	0.00	0.00
410 Other provisions	0.00	0.00	0.00
415 Insurance reserves	0.00	0.00	0.00
416 portion covered by insurers	0.00	0.00	0.00
420 Special-purpose funding	0.00	0.00	0.00
430 PROVISIONS FOR EXPENSES AND	0.00	0.00	0.00
LIABILITIES TOTAL
III. LONG-TERM LIABILITIES
440 Long-term amounts owed to credit institutions	0.00	0.00	0.00
450 Other financial liabilities	0.00	0.00	0.00
460 Deferred tax liabilities	0.00	0.00	0.00
470 Other long-term liabilities	0.00	0.00	0.00
480 TOTAL LONG-TERM LIABILITIES	0.00	0.00	0.00
IV. SHORT-TERM LIABILITIES
500 Short-term amounts owed to credit institutions	0.00	0.00	0.00
510 Short-term portion of long-term liabilities	0.00	0.00	0.00
520 Bills of exchange payable	0.00	0.00	0.00
530 Trade creditors	9 258.00	9 031.00	12 476.00
Accounts payable:
540 Advance payments	0.00	0.00	0.00
550 Budget accounts payable	109.00	67.00	22.00
560 Non-budget accounts payable	0.00	0.00	0.00
570 Insurance payments	19.00	29.00	22.00
580 Accrued payroll	47.00	59.00	49.00
590 Liabilities to shareholders	0.00	0.00	0.00
600 Internal payments	0.00	0.00	0.00
610 Other short-term liabilities	1 130.00	2 730.00	0.00
620 SHORT-TERM LIABILITIES TOTAL	10 563.00	11 916.00	12 569.00
630 V. DEFERRED INCOME	0.00	0.00	0.00
640 EQUITY AND LIABILITIES TOTAL	16 463.00	17 016.00	15 050.00

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.56.01
UK Pound	1	Rs.87.85
Euro	1	Rs.70.54

INFORMATION DETAILS

Report Prepared by :

PRL

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.