MIRA INFORM REPORT

Report Date :

26.06.2012

IDENTIFICATION DETAILS

Name :	AVANI RESOURCES PTE. LTD.

Registered Office :	143 Cecil Street #08-03/04 Gb Building Singapore 069542

Country :	Singapore

Financials (as on) :	31.03.2012

Date of Incorporation :	07.12.2010

Com. Reg. No.:	201025904R

Legal Form :	Private Limited Liability Company

Line of Business :	Trade of raw material and intermediate metals to steel plants, Power Generating plants and other related industries, Chemical industries

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

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)

Singapore

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

Contact Points

Company Name:	Avani Resources Pte. Ltd.
Supplied Name:	Avani Resources Pte Ltd.
Trading Address:	#08-03/04,GB Buildings,143 Cecil Street, Singapore (069541)
Supplied Address:	143, Cecil Street, NO. 08-03/04 G B Building Singapore 069542
Telephone Number:	+65-62219783 / 62962388
Fax Number:	+65-62219793
E-mail:	info@avani.sg

Credit Summary

Credit Opinion:

Business connections are permissible.

Company Identification Details

Registered Name:	Avani Resources Pte. Ltd.
Registered Address:	143 Cecil Street #08-03/04 Gb Building Singapore 069542
Date of Registration::	2010-12-7
Registered Number:	201025904R
Country of Incorporation:	Singapore
Registered Capital:	USD 1,000,000.00
Paid-up Capital:	USD 1,000,000.00 = 1,000,000 Shares@1 USD
Legal Form:	Private Limited Liability Company
Principal Activities:	Trade of raw material and intermediate metals to steel plants, Power Generating plants and other related industries, Chemical industries
Staff:	N/A
Status:	Live Company
Listed at Stock Exchange:	No.
Date of Last Annual Return:	2012-6-4

Note:

Subject declined to disclose the staff number, and from other sources, we couldn’t obtain the information, either.

History

Subject was incorporated on 2010-12-7 with registered number 201025904R as Private Limited Liability Company in Singapore.

Shareholders

Unit: SGD

Name	Subscription Amount	Proportion of Investment (%)
CHEN ZHIGUO	180,000	18%
SANDEEP BHARGAVA	80,000	8%
RAJESH JOHAR	100,000	10%
TERRA MIN RESOURCES PVT. LTD.	640,000	64%
Total	1,000,000	100%

Major Shareholder Information:

1
Name:	CHEN ZHIGUO
ID Number:	G38056458
Address:	Room 203, Building 3, No. 3, Yongdingmen Street West, Xicheng District, Beijing, P.R. China
Nationality:	Chinese
2
Name:	SANDEEP BHARGAVA
ID Number:	H8111997
Address:	12-D Ideal Towers, 57 Diamond Harbour Road, Kolkata 700023, India.
Nationality:	Indian
3
Name:	RAJESH JOHAR
ID Number:	S7187084G
Address:	370h Alexandra Road #09-06 Anchorage Condominium, The Singapore 159961
Nationality:	Singapore P.R.
4
Name:	TERRA MIN RESOURCES PVT. LTD.
Registered Number:	T11UF2010J
Address:	40/7 Ballygunge Circular Road, Kolkata 700019, India.

Subsidiaries & Branches

Parent Company

Name:	TERRA MIN RESOURCES PVT. LTD.
Registered Number:	T11UF2010J
Address:	40/7 Ballygunge Circular Road, Kolkata 700019, India.

Manage Information

Core Management

Detailed Information of Management:

1
Name:	CHEN ZHIGUO
Position:	Director
ID Number:	G38056458
Address:	Room 203, Building 3, No. 3, Yongdingmen Street West, Xicheng District, Beijing, P.R. China
Nationality:	Chinese
Date of Appointment:	2011-2-14
2
Name:	SANDEEP BHARGAVA
Position:	Director
ID Number:	H8111997
Address:	12-D Ideal Towers, 57 Diamond Harbour Road, Kolkata 700023, India.
Nationality:	Indian
Date of Appointment:	2011-2-14
3
Name:	SHIV RAJ KAPUR
Position:	Director
ID Number:	S2640515G
Address:	122 SIMEI STREET 1 #11-436 Singapore 520122
Nationality:	Singapore P.R.
Date of Appointment:	2010-12-7
4
Name:	SHIV RAJ KAPUR
Position:	Secretary
ID Number:	S2640515G
Address:	122 SIMEI STREET 1 #11-436 Singapore 520122
Nationality:	Singapore P.R.
Date of Appointment:	2010-12-7
5
Name:	RAJESH JOHAR
Position:	Managing Director/ Director
ID Number:	S7187084G
Address:	370h Alexandra Road #09-06 Anchorage Condominium, The Singapore 159961
Nationality:	Singapore P.R.
Date of Appointment:	2011-10-1

Operation Information

Offices & Factories

	Office
Address:	#08-03/04,GB Buildings,143 Cecil Street, Singapore (069541)

Production Information

l Subject is a trader of raw material and intermediate metals and the related products without any production activities

Purchase

l The productions are purchased from both local and abroad.

Sales Information

l Subject is mainly engaged in trading of raw material and intermediate metals and the related products.

l Subject introduced that it purchases the products from both local and abroad, such as India, China and so on.

l Subject introduced that its major products sold as following:

	Product
1	Thermal Coal
2	Steam Coal
3	Anthracite Coal
4	Coking Coal & PCI
5	Iron Ore/Concentrate
6	Chrome ore
7	Chrome Concentrate
8	Manganese Ore
9	Ferro Alloys
10	Others

l Subject’s selling territory covers India, China, Australia, Russia, South Africa, Indonesia, Japan, Columbia, and Vietnam and so on.

Settlements

Subject declined to disclose the settlements information, and from other sources, we couldn’t obtain the information, either

Balance Sheet

Unit: USD

	2012-3-31
Total Assets	62,095,482.00
Total Current Assets	62,049,052.00
Total Non-Current Assets f.k.a. [Fixed And Others]	46,430.00

Total Liabilities	54,017,377.00
Total Current Liabilities	32,670,155.00
Total Non-Current Liabilities	21,347,222.00
Total Equity f.k.a [Shareholder's Funds]	8,078,105.00
Paid-Up Capital	N.A.
Share Capital	1,000,000.00
Other Reserves, Total f.k.a. [Reserves]	(8,800.00)
Retained Earnings/(Accumulated Loss)	7,086,905.00

Profit/Loss Account

Unit: USD

	2011-4-1 To 2012-3-31
Revenue f.k.a [Sales Turnover And Other Operating Revenues]	302,870,987.00
Profit/(Loss) before Tax from Continuing Operations f.k.a [Profit/(Loss) before tax]	7,927,905.00
Profit/(Loss) after Tax from Continuing Operations f.k.a [Profit/(Loss) After Tax]	7,086,905.00
Net Income/(Loss) From Extraordinary And Non-Operating Items	N.A.
Profit/(Loss) After Tax and Extraordinary Items	N.A.

Bankers

Open Account Bank

1
Name:	HSBC
Address:	Singapore
2
Name:	DBS Bank
Address:	Singapore

Note:

Subject declined to disclose more details about the bank information.

Auditors

Name:

SHANKER IYER & CO

Public

Charges

Charge 1
Charge Number:	C201110433
Date of Registration:	2011-8-22
Name:	The Hongkong And Shanghai Banking Corporation Limited
Amount Secured:	All Monies
Charge 2
Charge Number:	C201110622
Date of Registration:	2011-8-25
Name:	ING BANK N.V.
Amount Secured:	All Monies
Charge 3
Charge Number:	C201111573
Date of Registration:	2011-8-25
Name:	DBS BANK LTD.
Amount Secured:	All Monies
Charge 4
Charge Number:	C201111574
Date of Registration:	15-09-2011
Name:	DBS BANK LTD.
Amount Secured:	All Monies
Charge 5
Charge Number:	C201111575
Date of Registration:	2011-9-15
Name:	DBS BANK LTD.
Amount Secured:	All Monies
Charge 6
Charge Number:	C201202623
Date of Registration:	2012-3-8
Name:	MALAYAN BANKING BERHAD
Amount Secured:	All Monies
Charge 7
Charge Number:	C201202624
Date of Registration:	2012-3-8
Name:	MALAYAN BANKING BERHAD
Amount Secured:	All Monies

Interview Details

Name:

N/A

Note:

A lady declined to disclose her name.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.56.53
UK Pound	1	Rs.88.09
Euro	1	Rs.70.83

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.