MIRA INFORM REPORT

Report Date :

28.06.2012

IDENTIFICATION DETAILS

Name :	OMAN FISHERIES COMPANY
Registered Office :	P.O Box 2900, Ruwi, P.O.Box 2900, Muscat, 112
Country :	Oman
Financials (as on) :	31.03.2012
Date of Incorporation :	22.10.1987
Legal Form :	Public Independent Company
Line of Business :	Subject is engaged in the processing, packaging and marketing of fish and fishery products
No. of Employees :	388

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)
Oman	A2	A2

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

Company name & address

Oman Fisheries Company

P.O Box 2900

Ruwi

P.O.Box 2900

Muscat, 112

Oman

Tel: 968-24-509500

Fax: 968-24-597804

Web: www.omanfisheries.com

Synthesis

Employees: 388

Company Type: Public Independent

Traded: Muscat Securities Market: OFCI

Incorporation Date: 22-Oct-1987

Auditor: PricewaterhouseCoopers LLP

Financials in: USD (Millions)

Fiscal Year End: 31-Mar-2012

Reporting Currency: Rial Omani

Annual Sales: 46.5 1

Net Income: 2.3

Total Assets: 45.7 2

Market Value: 36.7 (07-Jun-2012)

Business Description

Oman Fisheries Company S.A.O.G. is an Oman-based company engaged in the processing, packaging and marketing of fish and fishery products. The Company's processing and cold storage facilities are spread over various parts of the Sultanate of Oman. It sources fish from local fishermen through a network of procurement and processing centers all along the coast, as well as running its own deep-sea trawler in the Omani waters. Oman Fisheries Company S.A.O.G.'s range of products include demersal and pelagic, such as Red Snapper, Barracuda, Cat Fish and others; Tuna; Cuttlefish; Shrimps; Rock Lobster, and breaded and battered seafood products, such as fish biscuits, fish burger, jumbo shrimp, popcorn shrimps and fish nuggets. The Company exports its products to 35 countries. Its wholly owned subsidiary is Oman Fisheries Co. FZE, United Arab Emirates. Oman Fisheries Company S.A.O.G. is an Oman-based company engaged in the processing, packaging and marketing of fish and fishery products. The Company's processing and cold storage facilities are spread over various parts of Sultanate of Oman. It sources fish form local fishermen through a network of procurement and processing centers, as well as running its own deep-sea trawler in Omani waters. The Company exports its products to 35 countries.

Industry

Industry Food Processing

ANZSIC 2006: 3604 - Fish and Seafood Wholesaling

NACE 2002: 5138 - Wholesale of other food including fish, crustaceans and molluscs

NAICS 2002: 42446 - Fish and Seafood Merchant Wholesalers

UK SIC 2003: 5138 - Wholesale of other food including fish, crustaceans and molluscs

US SIC 1987: 5146 - Fish and Seafoods

Key Executives

Name	Title
Said Bin Rashid Al Rawahi	General Manager
Mohammed Bin Hamad Bin Ali Al Masrouri	Non-Executive Independent Chairman of the Board
Saleh Bin Naser Bin Juma Al Araimi	Non-Executive Independent Vice Chairman of the Board
Hani Bin Dawood Bin Hamdan Al Baharani	Non-Executive Independent Member of the Board, representing Ministry of Finance
Saud Bin Hamood Bin Ahmed Al Habsi	Non-Executive Independent Member of the Board, representing Ministry of Fisheries Wealth

Significant Developments

Topic	#*	Most Recent Headline	Date
Dividends	1	Oman Fisheries Co SAOG Approves 7% Annual Cash Dividend for FY 2011/2012; Appoints New External Auditors For FY 2012/2013	20-Jun-2012

* number of significant developments within the last 12 months

News

Title	Date
Shares fall on MSM Times of Oman (806 Words)	21-Jun-2012
MSM shares end on a negative note Times of Oman (359 Words)	11-Jun-2012
Muscat shares decline on bearish global indicators Times of Oman (699 Words)	4-Jun-2012
MSM slide continues Times of Oman (584 Words)	28-May-2012
Asia replacing Europe as top destination for seafood exporters Kuwait News Agency (Kuwait) (557 Words)	26-Apr-2012

Financial Summary

As of 31-Dec-2011

Key Ratios Company Industry

Current Ratio (MRQ) 3.55 1.53

Quick Ratio (MRQ) 2.42 0.78

Debt to Equity (MRQ) 0.23 1.14

Sales 5 Year Growth 21.80 6.97

Net Profit Margin (TTM) % 2.01 7.06

Return on Assets (TTM) % 2.26 7.05

Return on Equity (TTM) % 2.68 21.45

Stock Snapshot

Traded: Muscat Securities Market: OFCI

As of 7-Jun-2012

   Financials in: OMR

Recent Price	0.11	EPS	0.0070
52 Week High	0.13	Price/Sales	0.79
52 Week Low	0.09	Dividend Rate	0.0070
Avg. Volume (mil)	0.69	Price/Earnings	26.06
Market Value (mil)	14.13	Price/Book	0.86
		Beta	1.08

	Price % Change	Rel S&P 500%
4 Week	1.80%	1.11%
13 Week	3.67%	4.99%
52 Week	-0.88%	2.79%
Year to Date	22.83%	20.92%

1 - Profit & Loss Item Exchange Rate: USD 1 = OMR 0.3850256

2 - Balance Sheet Item Exchange Rate: USD 1 = OMR 0.385025

Corporate Overview

Location

P.O Box 2900

Ruwi

P.O.Box 2900

Muscat, 112

Oman

Tel: 968-24-509500

Fax: 968-24-597804

Web: www.omanfisheries.com

Quote Symbol - Exchange

OFCI - Muscat Securities Market

Sales OMR(mil): 17.9

Assets OMR(mil): 17.6

Employees: 388

Fiscal Year End: 31-Mar-2012

Industry: Food Processing

Incorporation Date: 22-Oct-1987

Company Type: Public Independent

Quoted Status: Quoted

Non-Executive

Independent

Chairman of the Board: Mohammed Bin Hamad Bin Ali Al Masrouri

Company Web Links

Company Contact/E-mail

Corporate History/Profile

Financial Information

Home Page

Products/Services

Contents

Industry Codes

Business Description

Financial Data

Market Data

Shareholders

Subsidiaries

Key Corporate Relationships

Industry Codes

ANZSIC 2006 Codes:

3604 - Fish and Seafood Wholesaling

0414 - Fish Trawling, Seining and Netting

0419 - Other Fishing

0203 - Onshore Aquaculture

1120 - Seafood Processing

NACE 2002 Codes:

1520 - Processing and preserving of fish and fish products

0502 - Fish farming

0501 - Fishing

5138 - Wholesale of other food including fish, crustaceans and molluscs

NAICS 2002 Codes:

114111 - Finfish Fishing

112511 - Finfish Farming and Fish Hatcheries

42446 - Fish and Seafood Merchant Wholesalers

311712 - Fresh and Frozen Seafood Processing

311711 - Seafood Canning

114119 - Other Marine Fishing

US SIC 1987:

5146 - Fish and Seafoods

2092 - Prepared Fresh or Frozen Fish and Seafoods

0919 - Miscellaneous Marine Products

0921 - Fish Hatcheries and Preserves

0912 - Finfish

2091 - Canned and Cured Fish and Seafoods

UK SIC 2003:

1520 - Processing and preserving of fish and fish products

0502 - Fish farming

0501 - Fishing

5138 - Wholesale of other food including fish, crustaceans and molluscs

Business Description

Oman Fisheries Company S.A.O.G. is an Oman-based company engaged in the processing, packaging and marketing of fish and fishery products. The Company's processing and cold storage facilities are spread over various parts of the Sultanate of Oman. It sources fish from local fishermen through a network of procurement and processing centers all along the coast, as well as running its own deep-sea trawler in the Omani waters. Oman Fisheries Company S.A.O.G.'s range of products include demersal and pelagic, such as Red Snapper, Barracuda, Cat Fish and others; Tuna; Cuttlefish; Shrimps; Rock Lobster, and breaded and battered seafood products, such as fish biscuits, fish burger, jumbo shrimp, popcorn shrimps and fish nuggets. The Company exports its products to 35 countries. Its wholly owned subsidiary is Oman Fisheries Co. FZE, United Arab Emirates. Oman Fisheries Company S.A.O.G. is an Oman-based company engaged in the processing, packaging and marketing of fish and fishery products. The Company's processing and cold storage facilities are spread over various parts of Sultanate of Oman. It sources fish form local fishermen through a network of procurement and processing centers, as well as running its own deep-sea trawler in Omani waters. The Company exports its products to 35 countries.

More Business Descriptions

Fishing, seafood production and processing and sale of fish

Financial Data

Financials in:	OMR(mil)
Sale:	17.9
Net Income:	0.9
Assets:	17.6
Long Term Debt:	0.0
Total Liabilities:	1.1
Working Capital:	0.0
Date of Financial Data:	31-Mar-2012

1 Year Growth

NA

NA

NA

Market Data

Quote Symbol:	OFCI
Exchange:	Muscat Securities Market
Currency:	OMR
Stock Price:	0.1
Stock Price Date:	06-07-2012
52 Week Price Change %:	-0.9
Market Value (mil):	14,125.0
SEDOL:	6660033
ISIN:	OM0000001566
Equity and Dept Distribution:
07/2008, 10-for-1 stock split.

Subsidiaries

Company	Percentage Owned	Country
Oman Fisheries Co FZE	100%	UNITED ARAB EMIRATES

Shareholders

Major Shareholders

State General Reserve Fund (7%); Government of Sultanate Oman (24%); Others Public (64%); Fianancial Service Comapany (5%)

Key Corporate Relationships

Auditor:	PricewaterhouseCoopers LLP
Bank:	Bank Muscat International, National Bank of Oman
Auditor:	PricewaterhouseCoopers LLP, PricewaterhouseCoopers LLP

Executive report

Board of Directors

Name	Title	Function
Mohammed Bin Hamad Bin Ali Al Masrouri	Non-Executive Independent Chairman of the Board	Chairman
Saleh Bin Naser Bin Juma Al Araimi	Non-Executive Independent Vice Chairman of the Board	Vice-Chairman
Biography: Mr. Saleh Bin Naser Bin Juma Al Araimi serves as Non-Executive Independent Vice Chairman of the Board of Oman Fisheries Company SAOG. He is Chairman of Business Plan Monitoring committee and the Executive committee. Age: 57
Hani Bin Dawood Bin Hamdan Al Baharani	Non-Executive Independent Member of the Board, representing Ministry of Finance	Director/Board Member
Saud Bin Hamood Bin Ahmed Al Habsi	Non-Executive Independent Member of the Board, representing Ministry of Fisheries Wealth	Director/Board Member
Biography: Dr. Saud Bin Hamood Bin Ahmed Al Habsi serves as Non-Executive Independent Member of the Board of Oman Fisheries Co, representing Ministry of Fisheries Wealth. He is Member of the Executive and Business Plan Monitoring committees.
Qais Bin Mahmoud Bin Abdullah Al Khonji	Non-Executive Independent Member of the Board	Director/Board Member
Salah Bin Hilal Bin Naser Al Mawali	Non-Executive Independent Member of the Board	Director/Board Member
Biography: Sheikh Salah Bin Hilal Bin Naser Al Mawali serves as Non-Executive Independent Member of the Board of Oman Fisheries Co. He is Member of the Audit, Executive and Business Plan Monitoring committees.
Musalam Amer Masoud Al Omari	Non-Executive Independent Member of the Board	Director/Board Member
Abdul Ameer Bin Said Bin Mohammed	Non-Executive Independent Member of the Board	Director/Board Member

Executives

Name	Title	Function
Said Bin Rashid Al Rawahi	General Manager	Division Head Executive

Significant Developments

Oman Fisheries Co SAOG Approves 7% Annual Cash Dividend for FY 2011/2012; Appoints New External Auditors For FY 2012/2013 Jun 20, 2012

Oman Fisheries Co SAOG announced that its shareholders have approved the distribution of 7% of the paid up capital, representing OMR 0.007 per share, as annual cash dividend for the fiscal year ended March 31, 2012.

Furthermore, the Company has appointed Deloitte as its external auditors for the fiscal year ending March 31, 2013.

Annual Income Statement

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Mar-2012	31-Mar-2011	31-Mar-2010	31-Mar-2009	31-Mar-2008
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Mar-2012	Updated Normal 31-Mar-2011	Updated Normal 31-Mar-2010	Reclassified Normal 31-Mar-2010	Updated Normal 31-Mar-2008
Filed Currency	OMR	OMR	OMR	OMR	OMR
Exchange Rate (Period Average)	0.385026	0.385034	0.384992	0.384985	0.384873
Auditor		PricewaterhouseCoopers LLP	PricewaterhouseCoopers LLP	PricewaterhouseCoopers LLP	PricewaterhouseCoopers LLP
Auditor Opinion		Unqualified	Unqualified	Unqualified	Unqualified
Net Sales	-	45.8	30.4	28.2	19.2
Sale	-	45.8	30.4	28.2	19.2
Other Sale	-	0.7	0.6	0.6	7.0
Other Sale, Total	-	0.7	0.6	0.6	7.0
Total Sale	-	46.5	31.1	28.8	26.2
Cost of Sale	-	33.5	19.9	19.6	17.5
Cost of Sale, Total	-	33.5	19.9	19.6	17.5
Gross Profit	-	12.3	10.5	8.6	1.7
Labor & Related Expense	-	4.3	3.1	3.0	3.2
Total Selling/General/Administrative Expenses	-	4.3	3.1	3.0	3.2
Depreciation	-	0.6	0.6	0.7	0.7
Depreciation/Amortization	-	0.6	0.6	0.7	0.7
Impairment-Assets Held for Use	-	-	0.0	0.4	-
Unusual Expense (Income)	-	-	0.0	0.4	-
Other Operating Expense	-	6.7	6.3	5.7	6.0
Other Operating Expenses, Total	-	6.7	6.3	5.7	6.0
Total Operating Expense	-	45.1	29.9	29.5	27.5
Operating Income	-	1.4	1.2	-0.7	-1.3
Interest Expense - Non-Operating	-	0.0	0.0	0.0	-
Interest Expense, Net Non-Operating	-	0.0	0.0	0.0	-
Interest Income - Non-Operating	-	1.1	1.2	1.1	1.3
Investment Income - Non-Operating	-	0.1	1.8	-4.6	4.0
Interest/Investment Income - Non-Operating	-	1.2	3.0	-3.5	5.4
Interest Income (Expense) - Net Non-Operating Total	-	1.2	3.0	-3.5	5.4
Income Before Tax	-	2.5	4.1	-4.2	4.1
Total Income Tax	-	0.3	0.3	0.0	0.1
Income After Tax	-	2.3	3.9	-4.2	4.1
Net Income Before Extraord Items	-	2.3	3.9	-4.2	4.1
Net Income	-	2.3	3.9	-4.2	4.1
Income Available to Common Excl Extraord Items	-	2.3	3.9	-4.2	4.1
Income Available to Common Incl Extraord Items	-	2.3	3.9	-4.2	4.1
Basic/Primary Weighted Average Shares	-	125.0	125.0	125.0	125.0
Basic EPS Excl Extraord Items	-	0.02	0.03	-0.03	0.03
Basic/Primary EPS Incl Extraord Items	-	0.02	0.03	-0.03	0.03
Dilution Adjustment	-	-	-	0.0	-
Diluted Net Income	-	2.3	3.9	-4.2	4.1
Diluted Weighted Average Shares	-	125.0	125.0	125.0	125.0
Diluted EPS Excl Extraord Items	-	0.02	0.03	-0.03	0.03
Diluted EPS Incl Extraord Items	-	0.02	0.03	-0.03	0.03
Dividends per Share - Common Stock Primary Issue	-	0.02	-	-	0.03
Gross Dividends - Common Stock	-	2.3	-	-	3.2
Interest Expense, Supplemental	-	0.0	0.0	0.0	-
Depreciation, Supplemental	-	0.6	0.6	0.7	0.7
Total Special Items	-	-	0.0	0.4	-
Normalized Income Before Tax	-	2.5	4.1	-3.8	4.1
Effect of Special Items on Income Taxes	-	-	0.0	0.1	-
Inc Tax Ex Impact of Sp Items	-	0.3	0.3	0.2	0.1
Normalized Income After Tax	-	2.3	3.9	-4.0	4.1
Normalized Inc. Avail to Com.	-	2.3	3.9	-4.0	4.1
Basic Normalized EPS	-	0.02	0.03	-0.03	0.03
Diluted Normalized EPS	-	0.02	0.03	-0.03	0.03
Rental Expenses	-	0.1	0.1	0.0	0.1
Advertising Expense, Supplemental	-	0.2	0.1	0.1	0.1
Normalized EBIT	-	1.4	1.2	-0.3	-1.3
Normalized EBITDA	-	2.0	1.7	0.4	-0.6
Current Tax - Total	-	0.3	0.3	0.1	-
Current Tax - Total	-	0.3	0.3	0.1	-
Deferred Tax - Total	-	0.0	0.0	0.0	0.1
Deferred Tax - Total	-	0.0	0.0	0.0	0.1
Income Tax - Total	-	0.3	0.3	0.0	0.1

Annual Balance Sheet

Financials in: USD (mil)

	31-Mar-2012	31-Mar-2011	31-Mar-2010	31-Mar-2009	31-Mar-2008
UpdateType/Date	Updated Normal 31-Mar-2012	Updated Normal 31-Mar-2011	Updated Normal 31-Mar-2010	Reclassified Normal 31-Mar-2010	Reclassified Normal 31-Mar-2009
Filed Currency	OMR	OMR	OMR	OMR	OMR
Exchange Rate	0.385025	0.385	0.385	0.385	0.38535
Auditor		PricewaterhouseCoopers LLP	PricewaterhouseCoopers LLP	PricewaterhouseCoopers LLP	PricewaterhouseCoopers LLP
Auditor Opinion		Unqualified	Unqualified	Unqualified	Unqualified
Cash & Equivalents	-	5.8	1.5	2.1	1.0
Short Term Investments	-	13.7	10.7	7.6	24.1
Cash and Short Term Investments	-	19.5	12.2	9.7	25.1
Accounts Receivable - Trade, Gross	-	2.7	2.4	2.4	1.9
Provision for Doubtful Accounts	-	-0.1	-0.6	-0.6	-0.5
Trade Accounts Receivable - Net	-	2.6	1.7	1.8	1.4
Other Receivables	-	2.7	2.4	2.0	1.7
Total Receivables, Net	-	5.3	4.1	3.8	3.1
Inventories - Finished Goods	-	4.0	3.2	4.0	3.8
Inventories - Raw Materials	-	0.6	0.4	0.4	0.4
Inventories - Other	-	0.0	0.0	0.0	0.0
LIFO Reserve	-	-0.1	-0.1	-0.1	-0.1
Total Inventory	-	4.6	3.6	4.3	4.2
Prepaid Expenses	-	-	0.3	0.3	0.2
Total Current Assets	-	29.4	20.2	18.1	32.6
Land/Improvements	-	4.1	3.8	3.6	3.4
Machinery/Equipment	-	7.2	6.1	7.0	7.6
Construction in Progress	-	0.0	0.6	-	-
Property/Plant/Equipment - Gross	-	11.3	10.5	10.7	11.0
Accumulated Depreciation	-	-8.6	-8.3	-8.5	-8.1
Property/Plant/Equipment - Net	-	2.7	2.2	2.1	3.0
LT Investments - Other	-	2.9	2.9	4.3	5.6
Long Term Investments	-	2.9	2.9	4.3	5.6
Deferred Income Tax - Long Term Asset	-	0.1	0.1	0.0	0.0
Other Long Term Assets	-	10.6	18.1	14.7	5.6
Other Long Term Assets, Total	-	10.7	18.2	14.7	5.6
Total Assets	-	45.7	43.5	39.2	46.7
Payable/Accrued	-	0.8	2.0	1.9	2.0
Accrued Expenses	-	0.9	-	-	-
Notes Payable/Short Term Debt	-	0.0	0.0	0.0	0.0
Customer Advances	-	0.1	-	-	-
Income Taxes Payable	-	0.4	0.4	0.2	0.1
Other Payables	-	0.3	-	-	-
Other Current liabilities, Total	-	0.7	0.4	0.2	0.1
Total Current Liabilities	-	2.4	2.4	2.1	2.1
Total Long Term Debt	-	0.0	0.0	0.0	0.0
Total Debt	-	0.0	0.0	0.0	0.0
Deferred Income Tax - LT Liability	-	-	-	-	0.0
Deferred Income Tax	-	-	-	-	0.0
Pension Benefits - Underfunded	-	0.5	0.4	0.4	0.4
Other Liabilities, Total	-	0.5	0.4	0.4	0.4
Total Liabilities	-	2.9	2.9	2.5	2.5
Common Stock	-	32.5	32.5	32.5	32.4
Common Stock	-	32.5	32.5	32.5	32.4
Retained Earnings (Accumulated Deficit)	-	10.4	8.1	4.3	11.7
Total Equity	-	42.8	40.6	36.7	44.2
Total Liabilities & Shareholders’ Equity	-	45.7	43.5	39.2	46.7
Shares Outstanding - Common Stock Primary Issue	-	125.0	125.0	125.0	125.0
Total Common Shares Outstanding	-	125.0	125.0	125.0	125.0
Employees	-	-	-	-	346
Number of Common Shareholders	-	16,537	-	-	-
Deferred Sale - Current	-	0.1	0.1	0.0	-
Total Operating Leases, Supplemental	-	-	-	-	0.0
Operating Lease Payments Due in Year 1	-	-	-	-	0.0
Operating Lease Payments Due in Year 2	-	-	-	-	0.0
Operating Lease Payments Due in Year 3	-	-	-	-	0.0
Operating Lease Payments Due in Year 4	-	-	-	-	0.0
Operating Lease Payments Due in Year 5	-	-	-	-	0.0
Operating Lease Pymts. Due in 2-3 Years	-	-	-	-	0.0
Operating Lease Pymts. Due in 4-5 Years	-	-	-	-	0.0
Oper. Lse. Pymts. Due in Year 6 & Beyond	-	-	-	-	0.0

Annual Cash Flows

Financials in: USD (mil)

	31-Mar-2012	31-Mar-2011	31-Mar-2010	31-Mar-2009	31-Mar-2008
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Mar-2012	Updated Normal 31-Mar-2011	Updated Normal 31-Mar-2010	Reclassified Normal 31-Mar-2010	Reclassified Normal 31-Mar-2009
Filed Currency	OMR	OMR	OMR	OMR	OMR
Exchange Rate (Period Average)	0.385026	0.385034	0.384992	0.384985	0.384873
Auditor		PricewaterhouseCoopers LLP	PricewaterhouseCoopers LLP	PricewaterhouseCoopers LLP	PricewaterhouseCoopers LLP
Auditor Opinion		Unqualified	Unqualified	Unqualified	Unqualified
Net Income/Starting Line	-	2.5	4.1	-4.2	4.1
Depreciation	-	0.6	0.6	0.7	0.7
Depreciation/Depletion	-	0.6	0.6	0.7	0.7
Unusual Items	-	0.0	-0.3	2.0	-1.8
Equity in Net Earnings (Loss)	-	0.4	-0.9	3.3	-2.0
Other Non-Cash Items	-	-1.4	-1.3	-1.4	-1.5
Non-Cash Items	-	-1.0	-2.5	3.9	-5.3
Accounts Receivable	-	-1.0	0.0	-0.8	-1.1
Inventories	-	-1.0	0.7	-0.1	-2.2
Payable/Accrued	-	-0.1	0.1	-0.2	0.5
Other Operating Cash Flow	-	0.8	0.8	1.1	1.6
Changes in Working Capital	-	-1.3	1.7	0.0	-1.3
Cash from Operating Activities	-	0.8	3.8	0.4	-1.8
Purchase of Fixed Assets	-	-1.0	-1.0	-0.2	-0.5
Capital Expenditures	-	-1.0	-1.0	-0.2	-0.5
Sale of Fixed Assets	-	0.0	0.1	0.0	0.0
Sale/Maturity of Investment	-	1.3	4.2	2.4	6.1
Investment, Net	-	0.0	-2.5	1.3	0.0
Purchase of Investments	-	-1.5	-4.5	-4.7	-3.9
Other Investing Cash Flow	-	4.6	-0.6	5.2	-1.2
Other Investing Cash Flow Items, Total	-	4.5	-3.4	4.1	1.0
Cash from Investing Activities	-	3.5	-4.4	3.9	0.6
Cash Dividends Paid - Common	-	-	0.0	-3.2	0.0
Total Cash Dividends Paid	-	-	0.0	-3.2	0.0
Cash from Financing Activities	-	-	0.0	-3.2	0.0
Net Change in Cash	-	4.3	-0.6	1.1	-1.2
Net Cash - Beginning Balance	-	1.5	2.1	1.0	2.2
Net Cash - Ending Balance	-	5.8	1.5	2.1	1.0
Cash Interest Paid	-	0.0	0.0	0.0	0.0
Cash Taxes Paid	-	0.3	0.1	0.0	0.1

Annual Income Statement

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Mar-2011	31-Mar-2010	31-Mar-2009	31-Mar-2008	31-Mar-2007
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Mar-2011	Updated Normal 31-Mar-2010	Reclassified Normal 31-Mar-2010	Updated Normal 31-Mar-2008	Updated Normal 31-Mar-2007
Filed Currency	OMR	OMR	OMR	OMR	OMR
Exchange Rate (Period Average)	0.385034	0.384992	0.384985	0.384873	0.384993
Auditor	PricewaterhouseCoopers LLP	PricewaterhouseCoopers LLP	PricewaterhouseCoopers LLP	PricewaterhouseCoopers LLP	KPMG LLP
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified
Sales	45.8	30.7	28.2	-	-
Insurance Claims for Fixed Assets	0.4	0.5	0.4	-	-
Procured from Fishermen	-	-	-	15.5	13.0
Received from Trawler Companies	-	-	-	1.5	1.4
Frozen Fish Purchased	-	-	-	0.3	5.2
Received From Company's own Boats	-	-	-	0.0	0.2
Loss on Sale of Fixed Assets	0.0	-0.3	0.0	-	-
Sale of Breaded Products	-	-	-	1.8	1.3
Other Income	0.3	0.1	0.2	7.0	0.1
Total Sale	46.5	31.1	28.8	26.2	21.3
Cost of goods Sold	33.5	19.9	19.6	17.5	14.2
Staff Costs	4.3	3.1	3.0	3.2	2.7
Depreciation	0.6	0.6	0.7	0.7	0.7
Other Operating Expenses	6.5	5.1	5.0	5.7	4.4
Fishing Levy	0.2	1.1	0.6	0.3	0.4
Contribution to Fisheries Research Fund	0.0	0.1	0.1	0.0	0.1
Impairment of Fixed Assets	-	0.0	0.4	-	-
Directors' Renumeration	-	-	-	0.1	-
Total Operating Expense	45.1	29.9	29.5	27.5	22.5
Interest Expenses	0.0	0.0	0.0	-	-
Dividend Income	-	-	-	0.2	0.3
Interest Income	1.1	1.2	1.1	1.3	1.2
Investment Income	0.0	1.7	-4.6	1.8	-
Foreign Currency	0.1	0.1	0.0	-	-
Increase in Fair Value of AFS Inv.	-	-	-	2.0	-1.3
Net Income Before Taxes	2.5	4.1	-4.2	4.1	-1.0
Provision for Income Taxes	0.3	0.3	0.0	0.1	0.1
Net Income After Taxes	2.3	3.9	-4.2	4.1	-1.2
Net Income Before Extra. Items	2.3	3.9	-4.2	4.1	-1.2
Net Income	2.3	3.9	-4.2	4.1	-1.2
Income Available to Com Excl ExtraOrd	2.3	3.9	-4.2	4.1	-1.2
Income Available to Com Incl ExtraOrd	2.3	3.9	-4.2	4.1	-1.2
Basic Weighted Average Shares	125.0	125.0	125.0	125.0	125.0
Basic EPS Excluding ExtraOrdinary Items	0.02	0.03	-0.03	0.03	-0.01
Basic EPS Including ExtraOrdinary Items	0.02	0.03	-0.03	0.03	-0.01
Dilution Adjustment	-	-	0.0	-	-
Diluted Net Income	2.3	3.9	-4.2	4.1	-1.2
Diluted Weighted Average Shares	125.0	125.0	125.0	125.0	125.0
Diluted EPS Excluding ExtraOrd Items	0.02	0.03	-0.03	0.03	-0.01
Diluted EPS Including ExtraOrd Items	0.02	0.03	-0.03	0.03	-0.01
DPS-Ordinary Shares	0.02	-	-	0.03	-
Gross Dividends - Common Stock	2.3	-	-	3.2	-
Normalized Income Before Taxes	2.5	4.1	-3.8	4.1	-1.0
Inc Tax Ex Impact of Sp Items	0.3	0.3	0.2	0.1	0.1
Normalized Income After Taxes	2.3	3.9	-4.0	4.1	-1.2
Normalized Inc. Avail to Com.	2.3	3.9	-4.0	4.1	-1.2
Basic Normalized EPS	0.02	0.03	-0.03	0.03	-0.01
Diluted Normalized EPS	0.02	0.03	-0.03	0.03	-0.01
Depreciation	0.6	0.6	0.7	0.7	0.7
Interest Expense	0.0	0.0	0.0	-	-
Advertising	0.2	0.1	0.1	0.1	0.1
Rent	0.1	0.1	0.0	0.1	0.1
Total Current Taxes	0.3	0.3	0.1	-	0.2
Current Tax - Total	0.3	0.3	0.1	-	0.2
Total Deferred Taxes	0.0	0.0	0.0	0.1	-0.1
Deferred Tax - Total	0.0	0.0	0.0	0.1	-0.1
Income Tax - Total	0.3	0.3	0.0	0.1	0.1

Annual Balance Sheet

Financials in: USD (mil)

	31-Mar-2011	31-Mar-2010	31-Mar-2009	31-Mar-2008	31-Mar-2007
UpdateType/Date	Updated Normal 31-Mar-2011	Updated Normal 31-Mar-2010	Reclassified Normal 31-Mar-2010	Reclassified Normal 31-Mar-2009	Updated Normal 31-Mar-2007
Filed Currency	OMR	OMR	OMR	OMR	OMR
Exchange Rate	0.385	0.385	0.385	0.38535	0.3849
Auditor	PricewaterhouseCoopers LLP	PricewaterhouseCoopers LLP	PricewaterhouseCoopers LLP	PricewaterhouseCoopers LLP	KPMG LLP
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified
Financial Assets Held to Maturity	0.0	3.9	0.0	-	-
Fish	4.0	3.2	4.0	3.8	1.7
Maintenance Spares	0.2	0.1	0.1	0.2	0.2
Packing Materials	0.4	0.3	0.2	0.3	0.1
Others	0.0	0.0	0.0	0.0	0.0
Provision for LIFO	-0.1	-0.1	-0.1	-0.1	-0.1
Trade Debtors	2.7	2.4	2.4	1.9	1.1
Other Receiavbles	2.7	1.4	0.7	0.9	0.7
Doubtful Accounts	-0.1	-0.6	-0.6	-0.5	-0.5
Prepayments	-	0.3	0.3	0.2	0.1
Accrued Interest	-	1.0	1.4	0.7	1.1
Bank Deposits	8.5	1.3	4.0	18.0	22.2
Investments	5.2	5.5	3.6	6.1	4.5
Cash/Equivalents	5.8	1.5	2.1	1.0	2.2
Total Current Assets	29.4	20.2	18.1	32.6	33.5
Land/Buildings	4.1	3.8	3.6	3.4	3.4
Plant/Equipment	5.2	4.9	4.7	4.9	4.7
Boats/Trawlers	0.7	0.0	1.2	1.6	1.5
Motor Vehicles	0.6	0.5	0.5	0.4	0.6
Furniture/Fixtures/Office Equip.	0.7	0.7	0.6	0.7	0.7
Work in Progress	0.0	0.6	-	-	-
Depreciation	-8.6	-8.3	-8.5	-8.1	-7.7
Investments	2.9	2.9	4.3	5.6	5.6
Fixed Deposits	10.6	18.1	14.7	5.6	-
Deferred Tax	0.1	0.1	0.0	0.0	0.0
Total Assets	45.7	43.5	39.2	46.7	42.3
Creditors/Accruals	0.8	2.0	1.9	2.0	1.5
Accrued Expenses	0.9	-	-	-	-
Customer Advances	0.1	-	-	-	-
Other payables	0.3	-	-	-	-
Taxation	0.4	0.4	0.2	0.1	0.2
Total Current Liabilities	2.4	2.4	2.1	2.1	1.7
End of Service Benefits	0.5	0.4	0.4	0.4	0.4
Deferred Tax	-	-	-	0.0	-
Total Liabilities	2.9	2.9	2.5	2.5	2.1
Share Capital	32.5	32.5	32.5	32.4	32.5
Legal Reserve	8.0	7.8	7.4	7.4	7.0
Capital Reserve	0.1	0.1	0.1	0.1	0.1
Retained Earnings	2.3	0.2	-3.2	4.2	0.6
Total Equity	42.8	40.6	36.7	44.2	40.2
Total Liabilities & Shareholders' Equity	45.7	43.5	39.2	46.7	42.3
S/O-Ordinary Shares	125.0	125.0	125.0	125.0	125.0
Total Common Shares Outstanding	125.0	125.0	125.0	125.0	125.0
Advance from Customers	0.1	0.1	0.0	-	-
Full-Time Employees	-	-	-	346	274
Reported Shareholder's Equity	16,537	-	-	-	-
Lease Due within 1 Year	-	-	-	0.0	0.0
Lease Due >1-5 Years	-	-	-	0.0	0.0
Total Operating Leases	-	-	-	0.0	0.1

Annual Cash Flows

Financials in: USD (mil)

	31-Mar-2011	31-Mar-2010	31-Mar-2009	31-Mar-2008	31-Mar-2007
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Mar-2011	Updated Normal 31-Mar-2010	Reclassified Normal 31-Mar-2010	Reclassified Normal 31-Mar-2009	Updated Normal 31-Mar-2007
Filed Currency	OMR	OMR	OMR	OMR	OMR
Exchange Rate (Period Average)	0.385034	0.384992	0.384985	0.384873	0.384993
Auditor	PricewaterhouseCoopers LLP	PricewaterhouseCoopers LLP	PricewaterhouseCoopers LLP	PricewaterhouseCoopers LLP	KPMG LLP
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified
Net Income	2.5	4.1	-4.2	4.1	-1.0
Depreciation	0.6	0.6	0.7	0.7	0.7
Interest Income	-1.1	-1.2	-1.1	-1.3	-1.2
Dividend Income	-0.4	-0.2	-0.3	-0.2	-0.3
Profit on Sale of Investments	0.0	-0.6	1.6	-1.8	-
Profit on Sale of Fixed Assets	0.0	0.3	0.0	0.0	0.0
Loss on Write Off Fixed Assets	-	0.0	0.4	0.0	0.1
Interest Expense	0.0	0.0	0.0	0.0	-
Fair value Gains - Avail. for Sale inves	0.4	-0.9	3.3	-2.0	1.3
Amortisation of Premium on Investments	0.0	0.0	0.0	0.0	0.0
Dividend Written-Back	-	-	-	-	0.1
End of Service Benefits Expense	0.1	0.1	0.0	0.1	0.0
Payment of End of Service Benefits	0.0	-0.1	-0.1	-0.1	0.0
Inventories	-1.0	0.7	-0.1	-2.2	-0.7
Debtors and Prepayments	-1.0	0.0	-0.8	-1.1	0.4
Creditors and Accruals	-0.1	0.1	-0.2	0.5	0.1
Interest Paid	0.0	0.0	0.0	0.0	-
Interest Income	1.1	0.9	1.1	1.7	-
Tax Paid	-0.3	-0.1	0.0	-0.1	-0.1
Cash from Operating Activities	0.8	3.8	0.4	-1.8	-0.7
Capital Expenditure	-1.0	-1.0	-0.2	-0.5	-0.3
Reduction in Investment Share Capital	-	-	-	0.0	0.0
Purchase of Investments	-1.5	-4.5	-4.7	-3.9	-
Proceeds from Sale of Fixed Assets	0.0	0.1	0.0	0.0	0.0
Proceeds from Sale of Investments	1.3	4.2	2.4	6.1	4.4
Dividend Income	0.4	0.2	0.3	0.2	0.3
Investment Held to Maturity Financial	3.9	0.0	0.0	-	-
Interest Income Received	-	-	-	-	1.1
Bank Deposits	0.3	-0.7	4.9	-1.4	-3.1
HTM Financial Assets	0.0	-2.5	1.3	0.0	-
Cash from Investing Activities	3.5	-4.4	3.9	0.6	2.4
Dividend Paid	-	0.0	-3.2	0.0	-2.3
Cash from Financing Activities	-	0.0	-3.2	0.0	-2.3
Net Change in Cash	4.3	-0.6	1.1	-1.2	-0.6
Beginning Cash	1.5	2.1	1.0	2.2	2.8
Ending Cash	5.8	1.5	2.1	1.0	2.2
Cash Interest Paid	0.0	0.0	0.0	0.0	-
Cash Taxes Paid	0.3	0.1	0.0	0.1	0.1

Financial Health

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

Key Indicators USD (mil)
Â	Quarter Ending 31-Mar-2012	Quarter Ending Yr Ago	Annual Year End	1 Year Growth	3 Year Growth	5 Year Growth
Total Sale1	0.0	-99.78%	-	-	-	-
Capital Expenditures2	6.0	747.47%	-	-	-	-
Cash from Operating Activities2	-3.5	-	-	-	-	-
Free Cash Flow	-9.5	-	-	-	-	-
Total Assets3	55.3	20.30%	-	-	-	-
Total Liabilities3	13.0	409.10%	-	-	-	-
Total Long Term Debt3	0.0	-	-	-	-	-
Total Common Shares Outstanding3	125.0	0.00%	-	-	-	-
1-ExchangeRate: OMR to USD Average for Period	0.385046	Â	Â	Â	Â	Â
2-ExchangeRate: OMR to USD Average for Period	0.385019	Â	Â	Â	Â	Â
3-ExchangeRate: OMR to USD Period End Date	0.385000	Â	Â	Â	Â	Â

Key Ratios
Â	31-Mar-2011	31-Mar-2010	31-Mar-2009	31-Mar-2008
Profitability
Gross Margin	26.88%	34.57%	30.42%	9.04%
Operating Margin	2.97%	3.73%	-2.47%	-4.81%
Pretax Margin	5.47%	13.30%	-14.60%	15.73%
Net Profit Margin	4.87%	12.40%	-14.76%	15.46%
Financial Strength
Current Ratio	12.31	8.24	8.77	15.78
Long Term Debt/Equity	0.00	0.00	0.00	0.00
Total Debt/Equity	0.00	0.00	0.00	0.00
Management Effectiveness
Return on Assets	5.08%	9.32%	-9.88%	9.10%
Return on Equity	5.43%	9.97%	-10.49%	9.60%
Efficiency
Receivables Turnover	9.85	7.83	8.30	9.60
Inventory Turnover	8.21	5.05	4.63	5.69
Asset Turnover	1.04	0.75	0.67	0.59

Market Valuation USD (mil)
P/E (TTM)	32.01	.	Enterprise Value2	23.0
Price/Sales (TTM)	0.64	.	Enterprise Value/Sale (TTM)	0.40
Price/Book (MRQ)	0.87	.	Enterprise Value/EBITDA (TTM)	11.26
Market Cap as of 07-Jun-20121	36.7	.
1-ExchangeRate: OMR to USD on 7-Jun-2012	0.384800
2-ExchangeRate: OMR to USD on 31-Dec-2011	0.385000

Annual Ratios

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Mar-2011	31-Mar-2010	31-Mar-2009	31-Mar-2008
Financial Strength
Current Ratio	12.31	8.24	8.77	15.78
Quick/Acid Test Ratio	10.39	6.65	6.55	13.66
Working Capital1	27.0	17.7	16.0	30.5
Long Term Debt/Equity	0.00	0.00	0.00	0.00
Total Debt/Equity	0.00	0.00	0.00	0.00
Long Term Debt/Total Capital	0.00	0.00	0.00	0.00
Total Debt/Total Capital	0.00	0.00	0.00	0.00
Payout Ratio	100.00%	-	-	80.00%
Effective Tax Rate	11.12%	6.73%	-	1.70%
Total Capital1	42.8	40.6	36.7	44.2
Efficiency
Asset Turnover	1.04	0.75	0.67	0.59
Inventory Turnover	8.21	5.05	4.63	5.69
Days In Inventory	44.47	72.27	78.79	64.10
Receivables Turnover	9.85	7.83	8.30	9.60
Days Receivables Outstanding	37.05	46.64	43.99	38.03
Sale/Employee2	-	-	-	75,616
Operating Income/Employee2	-	-	-	-3,638
EBITDA/Employee2	-	-	-	-1,688
Profitability
Gross Margin	26.88%	34.57%	30.42%	9.04%
Operating Margin	2.97%	3.73%	-2.47%	-4.81%
EBITDA Margin	4.21%	5.63%	-0.05%	-2.23%
EBIT Margin	2.97%	3.73%	-2.47%	-4.81%
Pretax Margin	5.47%	13.30%	-14.60%	15.73%
Net Profit Margin	4.87%	12.40%	-14.76%	15.46%
COGS/Sale	72.04%	64.07%	68.22%	66.78%
SG&A Expense/Sale	9.34%	9.92%	10.60%	12.40%
Management Effectiveness
Return on Assets	5.08%	9.32%	-9.88%	9.10%
Return on Equity	5.43%	9.97%	-10.49%	9.60%
Valuation
Free Cash Flow/Share2	0.00	0.02	0.00	-0.02
Operating Cash Flow/Share 2	0.01	0.03	0.00	-0.01
1-ExchangeRate: OMR to USD Period End Date	0.385	0.385	0.385	0.38535
2-ExchangeRate: OMR to USD Average for Period	0.385	0.385	0.385	0.38535

Current Market Multiples
Market Cap/Earnings (TTM)	32.01
Market Cap/Equity (MRQ)	0.87
Market Cap/Sale (TTM)	0.64
Market Cap/EBIT (TTM)	30.69
Market Cap/EBITDA (TTM)	17.94
Enterprise Value/Earnings (TTM)	20.10
Enterprise Value/Equity (MRQ)	0.54
Enterprise Value/Sale (TTM)	0.40
Enterprise Value/EBIT (TTM)	19.27
Enterprise Value/EBITDA (TTM)	11.26

Annual Income Statement

Standardized

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Mar-2012	31-Mar-2011	31-Mar-2010	31-Mar-2009	31-Mar-2008
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Mar-2012	Updated Normal 31-Mar-2011	Updated Normal 31-Mar-2010	Reclassified Normal 31-Mar-2010	Updated Normal 31-Mar-2008
Filed Currency	OMR	OMR	OMR	OMR	OMR
Exchange Rate (Period Average)	0.385026	0.385034	0.384992	0.384985	0.384873
Auditor		PricewaterhouseCoopers LLP	PricewaterhouseCoopers LLP	PricewaterhouseCoopers LLP	PricewaterhouseCoopers LLP
Auditor Opinion		Unqualified	Unqualified	Unqualified	Unqualified
Net Sales	-	45.8	30.4	28.2	19.2
Sale	-	45.8	30.4	28.2	19.2
Other Sale	-	0.7	0.6	0.6	7.0
Other Sale, Total	-	0.7	0.6	0.6	7.0
Total Sale	-	46.5	31.1	28.8	26.2
Cost of Sale	-	33.5	19.9	19.6	17.5
Cost of Sale, Total	-	33.5	19.9	19.6	17.5
Gross Profit	-	12.3	10.5	8.6	1.7
Labor & Related Expense	-	4.3	3.1	3.0	3.2
Total Selling/General/Administrative Expenses	-	4.3	3.1	3.0	3.2
Depreciation	-	0.6	0.6	0.7	0.7
Depreciation/Amortization	-	0.6	0.6	0.7	0.7
Impairment-Assets Held for Use	-	-	0.0	0.4	-
Unusual Expense (Income)	-	-	0.0	0.4	-
Other Operating Expense	-	6.7	6.3	5.7	6.0
Other Operating Expenses, Total	-	6.7	6.3	5.7	6.0
Total Operating Expense	-	45.1	29.9	29.5	27.5
Operating Income	-	1.4	1.2	-0.7	-1.3
Interest Expense - Non-Operating	-	0.0	0.0	0.0	-
Interest Expense, Net Non-Operating	-	0.0	0.0	0.0	-
Interest Income - Non-Operating	-	1.1	1.2	1.1	1.3
Investment Income - Non-Operating	-	0.1	1.8	-4.6	4.0
Interest/Investment Income - Non-Operating	-	1.2	3.0	-3.5	5.4
Interest Income (Expense) - Net Non-Operating Total	-	1.2	3.0	-3.5	5.4
Income Before Tax	-	2.5	4.1	-4.2	4.1
Total Income Tax	-	0.3	0.3	0.0	0.1
Income After Tax	-	2.3	3.9	-4.2	4.1
Net Income Before Extraord Items	-	2.3	3.9	-4.2	4.1
Net Income	-	2.3	3.9	-4.2	4.1
Income Available to Common Excl Extraord Items	-	2.3	3.9	-4.2	4.1
Income Available to Common Incl Extraord Items	-	2.3	3.9	-4.2	4.1
Basic/Primary Weighted Average Shares	-	125.0	125.0	125.0	125.0
Basic EPS Excl Extraord Items	-	0.02	0.03	-0.03	0.03
Basic/Primary EPS Incl Extraord Items	-	0.02	0.03	-0.03	0.03
Dilution Adjustment	-	-	-	0.0	-
Diluted Net Income	-	2.3	3.9	-4.2	4.1
Diluted Weighted Average Shares	-	125.0	125.0	125.0	125.0
Diluted EPS Excl Extraord Items	-	0.02	0.03	-0.03	0.03
Diluted EPS Incl Extraord Items	-	0.02	0.03	-0.03	0.03
Dividends per Share - Common Stock Primary Issue	-	0.02	-	-	0.03
Gross Dividends - Common Stock	-	2.3	-	-	3.2
Interest Expense, Supplemental	-	0.0	0.0	0.0	-
Depreciation, Supplemental	-	0.6	0.6	0.7	0.7
Total Special Items	-	-	0.0	0.4	-
Normalized Income Before Tax	-	2.5	4.1	-3.8	4.1
Effect of Special Items on Income Taxes	-	-	0.0	0.1	-
Inc Tax Ex Impact of Sp Items	-	0.3	0.3	0.2	0.1
Normalized Income After Tax	-	2.3	3.9	-4.0	4.1
Normalized Inc. Avail to Com.	-	2.3	3.9	-4.0	4.1
Basic Normalized EPS	-	0.02	0.03	-0.03	0.03
Diluted Normalized EPS	-	0.02	0.03	-0.03	0.03
Rental Expenses	-	0.1	0.1	0.0	0.1
Advertising Expense, Supplemental	-	0.2	0.1	0.1	0.1
Normalized EBIT	-	1.4	1.2	-0.3	-1.3
Normalized EBITDA	-	2.0	1.7	0.4	-0.6
Current Tax - Total	-	0.3	0.3	0.1	-
Current Tax - Total	-	0.3	0.3	0.1	-
Deferred Tax - Total	-	0.0	0.0	0.0	0.1
Deferred Tax - Total	-	0.0	0.0	0.0	0.1
Income Tax - Total	-	0.3	0.3	0.0	0.1

Interim Income Statement

Standardized

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Mar-2012	31-Dec-2011	30-Sep-2011	30-Jun-2011	31-Mar-2011
Period Length	3 Months	3 Months	3 Months	3 Months	3 Months
UpdateType/Date	Updated Normal 31-Mar-2012	Updated Normal 31-Dec-2011	Updated Normal 30-Sep-2011	Updated Normal 30-Jun-2011	Updated Normal 31-Mar-2011
Filed Currency	OMR	OMR	OMR	OMR	OMR
Exchange Rate (Period Average)	0.385046	0.385019	0.385015	0.385023	0.385072
Net Sales	-	19.0	19.1	9.4	9.0
Sale	-	19.0	19.1	9.4	9.0
Other Sale	-	0.1	0.1	0.1	0.2
Other Sale, Total	-	0.1	0.1	0.1	0.2
Total Sale	0.0	19.1	19.2	9.5	9.2
Cost of Sale	0.0	14.6	15.4	6.2	6.2
Cost of Sale, Total	0.0	14.6	15.4	6.2	6.2
Gross Profit	-	4.4	3.7	3.2	2.8
Labor & Related Expense	-	1.3	1.1	1.2	1.5
Total Selling/General/Administrative Expenses	-	1.3	1.1	1.2	1.5
Depreciation	-	0.2	0.2	0.2	0.1
Depreciation/Amortization	-	0.2	0.2	0.2	0.1
Other Operating Expense	-	2.3	1.7	1.9	1.8
Other Operating Expenses, Total	-	2.3	1.7	1.9	1.8
Total Operating Expense	-	18.4	18.3	9.5	9.6
Operating Income	-	0.7	0.8	0.0	-0.4
Interest Expense - Non-Operating	-	0.0	0.0	0.0	0.0
Interest Expense, Net Non-Operating	-	0.0	0.0	0.0	0.0
Interest Income - Non-Operating	-	0.2	0.2	0.2	0.2
Investment Income - Non-Operating	-	0.1	-0.3	-0.1	-0.3
Interest/Investment Income - Non-Operating	-	0.3	-0.1	0.1	-0.1
Interest Income (Expense) - Net Non-Operating Total	-	0.3	-0.1	0.1	-0.1
Income Before Tax	-	1.0	0.7	0.1	-0.4
Total Income Tax	-	0.1	0.0	0.0	0.2
Income After Tax	-	0.9	0.7	0.1	-0.6
Net Income Before Extraord Items	-	0.9	0.7	0.1	-0.6
Net Income	0.0	0.9	0.7	0.1	-0.6
Income Available to Common Excl Extraord Items	-	0.9	0.7	0.1	-0.6
Income Available to Common Incl Extraord Items	-	0.9	0.7	0.1	-0.6
Basic/Primary Weighted Average Shares	-	125.0	125.0	125.0	125.0
Basic EPS Excl Extraord Items	-	0.01	0.01	0.00	0.00
Basic/Primary EPS Incl Extraord Items	-	0.01	0.01	0.00	0.00
Dilution Adjustment	-	-	-	-	0.0
Diluted Net Income	-	0.9	0.7	0.1	-0.6
Diluted Weighted Average Shares	-	125.0	125.0	125.0	125.0
Diluted EPS Excl Extraord Items	-	0.01	0.01	0.00	0.00
Diluted EPS Incl Extraord Items	-	0.01	0.01	0.00	0.00
Dividends per Share - Common Stock Primary Issue	-	0.00	0.00	0.00	0.02
Gross Dividends - Common Stock	-	0.0	0.0	0.0	2.3
Interest Expense, Supplemental	-	0.0	0.0	0.0	0.0
Depreciation, Supplemental	-	0.2	0.2	0.2	0.1
Normalized Income Before Tax	-	1.0	0.7	0.1	-0.4
Inc Tax Ex Impact of Sp Items	-	0.1	0.0	0.0	0.2
Normalized Income After Tax	-	0.9	0.7	0.1	-0.6
Normalized Inc. Avail to Com.	-	0.9	0.7	0.1	-0.6
Basic Normalized EPS	-	0.01	0.01	0.00	0.00
Diluted Normalized EPS	-	0.01	0.01	0.00	0.00
Rental Expenses	-	-	-	-	0.1
Advertising Expense, Supplemental	-	0.1	0.1	0.0	0.1
Normalized EBIT	-	0.7	0.8	0.0	-0.4
Normalized EBITDA	-	1.0	1.1	0.2	-0.2
Current Tax - Total	-	-	-	-	0.2
Current Tax - Total	-	-	-	-	0.2
Deferred Tax - Total	-	-	-	-	0.0
Deferred Tax - Total	-	-	-	-	0.0
Income Tax - Total	-	-	-	-	0.2

Annual Balance Sheet

Standardized

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Mar-2012	31-Mar-2011	31-Mar-2010	31-Mar-2009	31-Mar-2008
UpdateType/Date	Updated Normal 31-Mar-2012	Updated Normal 31-Mar-2011	Updated Normal 31-Mar-2010	Reclassified Normal 31-Mar-2010	Reclassified Normal 31-Mar-2009
Filed Currency	OMR	OMR	OMR	OMR	OMR
Exchange Rate	0.385025	0.385	0.385	0.385	0.38535
Auditor		PricewaterhouseCoopers LLP	PricewaterhouseCoopers LLP	PricewaterhouseCoopers LLP	PricewaterhouseCoopers LLP
Auditor Opinion		Unqualified	Unqualified	Unqualified	Unqualified
Cash & Equivalents	-	5.8	1.5	2.1	1.0
Short Term Investments	-	13.7	10.7	7.6	24.1
Cash and Short Term Investments	-	19.5	12.2	9.7	25.1
Accounts Receivable - Trade, Gross	-	2.7	2.4	2.4	1.9
Provision for Doubtful Accounts	-	-0.1	-0.6	-0.6	-0.5
Trade Accounts Receivable - Net	-	2.6	1.7	1.8	1.4
Other Receivables	-	2.7	2.4	2.0	1.7
Total Receivables, Net	-	5.3	4.1	3.8	3.1
Inventories - Finished Goods	-	4.0	3.2	4.0	3.8
Inventories - Raw Materials	-	0.6	0.4	0.4	0.4
Inventories - Other	-	0.0	0.0	0.0	0.0
LIFO Reserve	-	-0.1	-0.1	-0.1	-0.1
Total Inventory	-	4.6	3.6	4.3	4.2
Prepaid Expenses	-	-	0.3	0.3	0.2
Total Current Assets	-	29.4	20.2	18.1	32.6
Land/Improvements	-	4.1	3.8	3.6	3.4
Machinery/Equipment	-	7.2	6.1	7.0	7.6
Construction in Progress	-	0.0	0.6	-	-
Property/Plant/Equipment - Gross	-	11.3	10.5	10.7	11.0
Accumulated Depreciation	-	-8.6	-8.3	-8.5	-8.1
Property/Plant/Equipment - Net	-	2.7	2.2	2.1	3.0
LT Investments - Other	-	2.9	2.9	4.3	5.6
Long Term Investments	-	2.9	2.9	4.3	5.6
Deferred Income Tax - Long Term Asset	-	0.1	0.1	0.0	0.0
Other Long Term Assets	-	10.6	18.1	14.7	5.6
Other Long Term Assets, Total	-	10.7	18.2	14.7	5.6
Total Assets	-	45.7	43.5	39.2	46.7
Payable/Accrued	-	0.8	2.0	1.9	2.0
Accrued Expenses	-	0.9	-	-	-
Notes Payable/Short Term Debt	-	0.0	0.0	0.0	0.0
Customer Advances	-	0.1	-	-	-
Income Taxes Payable	-	0.4	0.4	0.2	0.1
Other Payables	-	0.3	-	-	-
Other Current liabilities, Total	-	0.7	0.4	0.2	0.1
Total Current Liabilities	-	2.4	2.4	2.1	2.1
Total Long Term Debt	-	0.0	0.0	0.0	0.0
Total Debt	-	0.0	0.0	0.0	0.0
Deferred Income Tax - LT Liability	-	-	-	-	0.0
Deferred Income Tax	-	-	-	-	0.0
Pension Benefits - Underfunded	-	0.5	0.4	0.4	0.4
Other Liabilities, Total	-	0.5	0.4	0.4	0.4
Total Liabilities	-	2.9	2.9	2.5	2.5
Common Stock	-	32.5	32.5	32.5	32.4
Common Stock	-	32.5	32.5	32.5	32.4
Retained Earnings (Accumulated Deficit)	-	10.4	8.1	4.3	11.7
Total Equity	-	42.8	40.6	36.7	44.2
Total Liabilities & Shareholders’ Equity	-	45.7	43.5	39.2	46.7
Shares Outstanding - Common Stock Primary Issue	-	125.0	125.0	125.0	125.0
Total Common Shares Outstanding	-	125.0	125.0	125.0	125.0
Employees	-	-	-	-	346
Number of Common Shareholders	-	16,537	-	-	-
Deferred Sale - Current	-	0.1	0.1	0.0	-
Total Operating Leases, Supplemental	-	-	-	-	0.0
Operating Lease Payments Due in Year 1	-	-	-	-	0.0
Operating Lease Payments Due in Year 2	-	-	-	-	0.0
Operating Lease Payments Due in Year 3	-	-	-	-	0.0
Operating Lease Payments Due in Year 4	-	-	-	-	0.0
Operating Lease Payments Due in Year 5	-	-	-	-	0.0
Operating Lease Pymts. Due in 2-3 Years	-	-	-	-	0.0
Operating Lease Pymts. Due in 4-5 Years	-	-	-	-	0.0
Oper. Lse. Pymts. Due in Year 6 & Beyond	-	-	-	-	0.0

Interim Balance Sheet

Standardized

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Dec-2011	30-Sep-2011	30-Jun-2011	31-Mar-2011	31-Dec-2010
UpdateType/Date	Updated Normal 31-Dec-2011	Updated Normal 30-Sep-2011	Updated Normal 30-Jun-2011	Updated Normal 31-Mar-2011	Updated Normal 31-Dec-2010
Filed Currency	OMR	OMR	OMR	OMR	OMR
Exchange Rate	0.385	0.38505	0.38505	0.385	0.385
Cash & Equivalents	3.2	2.2	3.3	5.8	8.4
Short Term Investments	20.0	20.9	25.2	13.7	20.7
Cash and Short Term Investments	23.2	23.0	28.5	19.5	29.1
Accounts Receivable - Trade, Gross	4.5	9.1	3.0	2.7	4.2
Provision for Doubtful Accounts	-0.1	-0.1	-0.6	-0.6	-0.6
Trade Accounts Receivable - Net	4.4	9.0	2.4	2.1	3.6
Other Receivables	2.0	2.0	2.5	3.3	3.5
Total Receivables, Net	6.4	11.0	4.8	5.3	7.0
Inventories - Finished Goods	13.4	7.0	4.2	4.0	3.7
Inventories - Raw Materials	0.7	0.6	0.6	0.6	0.7
Inventories - Other	0.0	0.0	0.0	0.0	0.0
LIFO Reserve	-0.1	-0.1	-0.1	-0.1	-0.1
Total Inventory	14.1	7.6	4.8	4.6	4.4
Prepaid Expenses	0.7	0.6	0.9	-	-
Other Current Assets	-	0.1	-	-	-
Other Current Assets, Total	-	0.1	-	-	-
Total Current Assets	44.4	42.3	39.0	29.4	40.6
Machinery/Equipment	17.3	14.7	11.5	11.3	11.2
Construction in Progress	-	-	-	0.0	-
Property/Plant/Equipment - Gross	17.3	14.7	11.5	11.3	11.2
Accumulated Depreciation	-9.3	-9.1	-8.9	-8.6	-8.7
Property/Plant/Equipment - Net	8.0	5.6	2.6	2.7	2.5
LT Investments - Other	2.9	2.9	2.9	2.9	2.9
Long Term Investments	2.9	2.9	2.9	2.9	2.9
Deferred Income Tax - Long Term Asset	0.1	0.1	0.1	0.1	0.1
Other Long Term Assets	-	-	-	10.6	-
Other Long Term Assets, Total	0.1	0.1	0.1	10.7	0.1
Total Assets	55.3	50.8	44.6	45.7	46.0
Payable/Accrued	2.3	2.7	0.8	1.1	1.4
Accrued Expenses	0.5	-	0.2	0.9	0.5
Notes Payable/Short Term Debt	0.0	0.0	0.0	0.0	0.0
Current Portion - Long Term Debt/Capital Leases	9.5	6.1	-	-	0.0
Income Taxes Payable	0.2	0.1	0.1	0.4	0.2
Other Current Liabilities	-	-	2.3	-	-
Other Current liabilities, Total	0.2	0.1	2.3	0.4	0.2
Total Current Liabilities	12.5	8.9	3.4	2.4	2.1
Total Long Term Debt	0.0	0.0	0.0	0.0	0.0
Total Debt	9.5	6.1	0.0	0.0	0.0
Deferred Income Tax - LT Liability	-	0.0	-	-	0.0
Deferred Income Tax	-	0.0	-	-	0.0
Minority Interest	0.0	0.0	-	-	-
Pension Benefits - Underfunded	0.5	0.5	0.5	0.5	0.4
Other Liabilities, Total	0.5	0.5	0.5	0.5	0.4
Total Liabilities	13.0	9.4	3.9	2.9	2.6
Common Stock	32.5	32.5	32.5	32.5	32.5
Common Stock	32.5	32.5	32.5	32.5	32.5
Retained Earnings (Accumulated Deficit)	9.8	8.9	8.2	10.4	11.0
Total Equity	42.3	41.4	40.7	42.8	43.4
Total Liabilities & Shareholders’ Equity	55.3	50.8	44.6	45.7	46.0
Shares Outstanding - Common Stock Primary Issue	125.0	125.0	125.0	125.0	125.0
Total Common Shares Outstanding	125.0	125.0	125.0	125.0	125.0
Employees	-	388	359	-	355
Total Operating Leases, Supplemental	-	-	-	-	0.0
Operating Lease Payments Due in Year 1	-	-	-	-	0.0
Operating Lease Payments Due in Year 2	-	-	-	-	0.0
Operating Lease Payments Due in Year 3	-	-	-	-	0.0
Operating Lease Payments Due in Year 4	-	-	-	-	0.0
Operating Lease Payments Due in Year 5	-	-	-	-	0.0
Operating Lease Pymts. Due in 2-3 Years	-	-	-	-	0.0
Operating Lease Pymts. Due in 4-5 Years	-	-	-	-	0.0
Oper. Lse. Pymts. Due in Year 6 & Beyond	-	-	-	-	0.0

Annual Cash Flows

Standardized

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Mar-2012	31-Mar-2011	31-Mar-2010	31-Mar-2009	31-Mar-2008
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Mar-2012	Updated Normal 31-Mar-2011	Updated Normal 31-Mar-2010	Reclassified Normal 31-Mar-2010	Reclassified Normal 31-Mar-2009
Filed Currency	OMR	OMR	OMR	OMR	OMR
Exchange Rate (Period Average)	0.385026	0.385034	0.384992	0.384985	0.384873
Auditor		PricewaterhouseCoopers LLP	PricewaterhouseCoopers LLP	PricewaterhouseCoopers LLP	PricewaterhouseCoopers LLP
Auditor Opinion		Unqualified	Unqualified	Unqualified	Unqualified
Net Income/Starting Line	-	2.5	4.1	-4.2	4.1
Depreciation	-	0.6	0.6	0.7	0.7
Depreciation/Depletion	-	0.6	0.6	0.7	0.7
Unusual Items	-	0.0	-0.3	2.0	-1.8
Equity in Net Earnings (Loss)	-	0.4	-0.9	3.3	-2.0
Other Non-Cash Items	-	-1.4	-1.3	-1.4	-1.5
Non-Cash Items	-	-1.0	-2.5	3.9	-5.3
Accounts Receivable	-	-1.0	0.0	-0.8	-1.1
Inventories	-	-1.0	0.7	-0.1	-2.2
Payable/Accrued	-	-0.1	0.1	-0.2	0.5
Other Operating Cash Flow	-	0.8	0.8	1.1	1.6
Changes in Working Capital	-	-1.3	1.7	0.0	-1.3
Cash from Operating Activities	-	0.8	3.8	0.4	-1.8
Purchase of Fixed Assets	-	-1.0	-1.0	-0.2	-0.5
Capital Expenditures	-	-1.0	-1.0	-0.2	-0.5
Sale of Fixed Assets	-	0.0	0.1	0.0	0.0
Sale/Maturity of Investment	-	1.3	4.2	2.4	6.1
Investment, Net	-	0.0	-2.5	1.3	0.0
Purchase of Investments	-	-1.5	-4.5	-4.7	-3.9
Other Investing Cash Flow	-	4.6	-0.6	5.2	-1.2
Other Investing Cash Flow Items, Total	-	4.5	-3.4	4.1	1.0
Cash from Investing Activities	-	3.5	-4.4	3.9	0.6
Cash Dividends Paid - Common	-	-	0.0	-3.2	0.0
Total Cash Dividends Paid	-	-	0.0	-3.2	0.0
Cash from Financing Activities	-	-	0.0	-3.2	0.0
Net Change in Cash	-	4.3	-0.6	1.1	-1.2
Net Cash - Beginning Balance	-	1.5	2.1	1.0	2.2
Net Cash - Ending Balance	-	5.8	1.5	2.1	1.0
Cash Interest Paid	-	0.0	0.0	0.0	0.0
Cash Taxes Paid	-	0.3	0.1	0.0	0.1

Interim Cash Flows

Standardized

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Dec-2011	30-Sep-2011	30-Jun-2011	31-Mar-2011	31-Dec-2010
Period Length	9 Months	6 Months	3 Months	12 Months	9 Months
UpdateType/Date	Updated Normal 31-Dec-2011	Updated Normal 30-Sep-2011	Updated Normal 30-Jun-2011	Updated Normal 31-Mar-2011	Updated Normal 31-Dec-2010
Filed Currency	OMR	OMR	OMR	OMR	OMR
Exchange Rate (Period Average)	0.385019	0.385019	0.385023	0.385034	0.385021
Net Income/Starting Line	1.8	0.8	0.1	2.5	3.0
Depreciation	0.7	0.5	0.2	0.6	0.4
Depreciation/Depletion	0.7	0.5	0.2	0.6	0.4
Other Non-Cash Items	-0.3	0.0	-0.3	-1.0	2.8
Non-Cash Items	-0.3	0.0	-0.3	-1.0	2.8
Accounts Receivable	2.1	-6.5	-0.3	-1.0	-2.5
Inventories	-8.4	-3.0	-0.2	-1.0	-0.8
Other Assets	-	-	-	0.0	0.0
Accounts Payable	0.9	0.8	1.3	-0.1	-0.5
Taxes Payable	-0.3	-	-	-	-0.3
Other Operating Cash Flow	0.0	-0.3	-0.3	0.8	-0.1
Changes in Working Capital	-5.7	-9.0	0.6	-1.3	-4.2
Cash from Operating Activities	-3.5	-7.7	0.6	0.8	2.0
Purchase of Fixed Assets	-6.0	-3.3	-0.1	-1.0	-0.7
Capital Expenditures	-6.0	-3.3	-0.1	-1.0	-0.7
Sale of Fixed Assets	-	-	-	0.0	0.0
Sale/Maturity of Investment	0.6	0.5	0.3	1.3	0.8
Investment, Net	-	-	0.0	0.0	0.0
Purchase of Investments	-0.7	-0.5	-0.3	-1.5	-1.2
Other Investing Cash Flow	14.3	9.7	-0.7	4.6	6.1
Other Investing Cash Flow Items, Total	14.3	9.7	-0.7	4.5	5.7
Cash from Investing Activities	8.3	6.4	-0.8	3.5	5.0
Other Financing Cash Flow	0.0	0.0	-	-	0.0
Financing Cash Flow Items	0.0	0.0	-	-	0.0
Cash Dividends Paid - Common	-2.3	-2.3	-2.3	-	0.0
Total Cash Dividends Paid	-2.3	-2.3	-2.3	-	0.0
Cash from Financing Activities	-2.3	-2.3	-2.3	-	0.0
Net Change in Cash	2.6	-3.6	-2.5	4.3	6.9
Net Cash - Beginning Balance	5.8	5.8	5.8	1.5	1.5
Net Cash - Ending Balance	3.2	2.2	3.3	5.8	8.4
Cash Interest Paid	0.0	0.0	-	0.0	0.0
Cash Taxes Paid	-	0.3	0.3	0.3	0.0

Annual Income Statement

As Reported

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Mar-2011	31-Mar-2010	31-Mar-2009	31-Mar-2008	31-Mar-2007
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Mar-2011	Updated Normal 31-Mar-2010	Reclassified Normal 31-Mar-2010	Updated Normal 31-Mar-2008	Updated Normal 31-Mar-2007
Filed Currency	OMR	OMR	OMR	OMR	OMR
Exchange Rate (Period Average)	0.385034	0.384992	0.384985	0.384873	0.384993
Auditor	PricewaterhouseCoopers LLP	PricewaterhouseCoopers LLP	PricewaterhouseCoopers LLP	PricewaterhouseCoopers LLP	KPMG LLP
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified
Sales	45.8	30.7	28.2	-	-
Insurance Claims for Fixed Assets	0.4	0.5	0.4	-	-
Procured from Fishermen	-	-	-	15.5	13.0
Received from Trawler Companies	-	-	-	1.5	1.4
Frozen Fish Purchased	-	-	-	0.3	5.2
Received From Company's own Boats	-	-	-	0.0	0.2
Loss on Sale of Fixed Assets	0.0	-0.3	0.0	-	-
Sale of Breaded Products	-	-	-	1.8	1.3
Other Income	0.3	0.1	0.2	7.0	0.1
Total Sale	46.5	31.1	28.8	26.2	21.3
Cost of goods Sold	33.5	19.9	19.6	17.5	14.2
Staff Costs	4.3	3.1	3.0	3.2	2.7
Depreciation	0.6	0.6	0.7	0.7	0.7
Other Operating Expenses	6.5	5.1	5.0	5.7	4.4
Fishing Levy	0.2	1.1	0.6	0.3	0.4
Contribution to Fisheries Research Fund	0.0	0.1	0.1	0.0	0.1
Impairment of Fixed Assets	-	0.0	0.4	-	-
Directors' Renumeration	-	-	-	0.1	-
Total Operating Expense	45.1	29.9	29.5	27.5	22.5
Interest Expenses	0.0	0.0	0.0	-	-
Dividend Income	-	-	-	0.2	0.3
Interest Income	1.1	1.2	1.1	1.3	1.2
Investment Income	0.0	1.7	-4.6	1.8	-
Foreign Currency	0.1	0.1	0.0	-	-
Increase in Fair Value of AFS Inv.	-	-	-	2.0	-1.3
Net Income Before Taxes	2.5	4.1	-4.2	4.1	-1.0
Provision for Income Taxes	0.3	0.3	0.0	0.1	0.1
Net Income After Taxes	2.3	3.9	-4.2	4.1	-1.2
Net Income Before Extra. Items	2.3	3.9	-4.2	4.1	-1.2
Net Income	2.3	3.9	-4.2	4.1	-1.2
Income Available to Com Excl ExtraOrd	2.3	3.9	-4.2	4.1	-1.2
Income Available to Com Incl ExtraOrd	2.3	3.9	-4.2	4.1	-1.2
Basic Weighted Average Shares	125.0	125.0	125.0	125.0	125.0
Basic EPS Excluding ExtraOrdinary Items	0.02	0.03	-0.03	0.03	-0.01
Basic EPS Including ExtraOrdinary Items	0.02	0.03	-0.03	0.03	-0.01
Dilution Adjustment	-	-	0.0	-	-
Diluted Net Income	2.3	3.9	-4.2	4.1	-1.2
Diluted Weighted Average Shares	125.0	125.0	125.0	125.0	125.0
Diluted EPS Excluding ExtraOrd Items	0.02	0.03	-0.03	0.03	-0.01
Diluted EPS Including ExtraOrd Items	0.02	0.03	-0.03	0.03	-0.01
DPS-Ordinary Shares	0.02	-	-	0.03	-
Gross Dividends - Common Stock	2.3	-	-	3.2	-
Normalized Income Before Taxes	2.5	4.1	-3.8	4.1	-1.0
Inc Tax Ex Impact of Sp Items	0.3	0.3	0.2	0.1	0.1
Normalized Income After Taxes	2.3	3.9	-4.0	4.1	-1.2
Normalized Inc. Avail to Com.	2.3	3.9	-4.0	4.1	-1.2
Basic Normalized EPS	0.02	0.03	-0.03	0.03	-0.01
Diluted Normalized EPS	0.02	0.03	-0.03	0.03	-0.01
Depreciation	0.6	0.6	0.7	0.7	0.7
Interest Expense	0.0	0.0	0.0	-	-
Advertising	0.2	0.1	0.1	0.1	0.1
Rent	0.1	0.1	0.0	0.1	0.1
Total Current Taxes	0.3	0.3	0.1	-	0.2
Current Tax - Total	0.3	0.3	0.1	-	0.2
Total Deferred Taxes	0.0	0.0	0.0	0.1	-0.1
Deferred Tax - Total	0.0	0.0	0.0	0.1	-0.1
Income Tax - Total	0.3	0.3	0.0	0.1	0.1

Interim Income Statement

As Reported

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Dec-2011	30-Sep-2011	30-Jun-2011	31-Mar-2011	31-Dec-2010
Period Length	3 Months	3 Months	3 Months	3 Months	3 Months
UpdateType/Date	Updated Normal 31-Dec-2011	Updated Normal 30-Sep-2011	Updated Normal 30-Jun-2011	Updated Normal 31-Mar-2011	Updated Normal 31-Dec-2010
Filed Currency	OMR	OMR	OMR	OMR	OMR
Exchange Rate (Period Average)	0.385019	0.385015	0.385023	0.385072	0.385068
Sales	19.0	19.1	9.4	9.0	17.3
Other Income	0.1	0.1	0.1	0.2	0.1
Total Sale	19.1	19.2	9.5	9.2	17.4
Cost of Goods Sold	14.6	15.4	6.2	6.2	12.9
Staff Cost	1.3	1.1	1.2	1.5	1.1
Depreciation	0.2	0.2	0.2	0.1	0.2
Other Operating Expenses	2.3	1.7	1.8	1.8	2.0
Fishing Levy	0.0	0.0	0.0	0.0	0.0
Contribution to Fisheries Research Fund	0.0	0.0	0.0	0.0	0.0
Total Operating Expense	18.4	18.3	9.5	9.6	16.2
Interest Expenses	0.0	0.0	0.0	0.0	0.0
Dividend Income	0.0	0.0	0.0	0.1	0.0
Investment Income	0.0	0.0	0.0	-0.1	0.0
Increase in Fair Value of Investments	0.1	-0.3	-0.1	-0.4	0.3
Foreign Currency	-	-	-	0.1	-
Interest Income	0.2	0.2	0.2	0.2	0.2
Net Income Before Taxes	1.0	0.7	0.1	-0.4	1.8
Provision for Income Taxes	0.1	0.0	0.0	0.2	0.1
Net Income After Taxes	0.9	0.7	0.1	-0.6	1.6
Net Income Before Extra. Items	0.9	0.7	0.1	-0.6	1.6
Net Income	0.9	0.7	0.1	-0.6	1.6
Income Available to Com Excl ExtraOrd	0.9	0.7	0.1	-0.6	1.6
Income Available to Com Incl ExtraOrd	0.9	0.7	0.1	-0.6	1.6
Basic Weighted Average Shares	125.0	125.0	125.0	125.0	125.0
Basic EPS Excluding ExtraOrdinary Items	0.01	0.01	0.00	0.00	0.01
Basic EPS Including ExtraOrdinary Items	0.01	0.01	0.00	0.00	0.01
Dilution Adjustment	-	-	-	0.0	-
Diluted Net Income	0.9	0.7	0.1	-0.6	1.6
Diluted Weighted Average Shares	125.0	125.0	125.0	125.0	125.0
Diluted EPS Excluding ExtraOrd Items	0.01	0.01	0.00	0.00	0.01
Diluted EPS Including ExtraOrd Items	0.01	0.01	0.00	0.00	0.01
DPS-Ordinary Shares	0.00	0.00	0.00	0.02	0.00
Gross Dividends - Common Stock	0.0	0.0	0.0	2.3	0.0
Normalized Income Before Taxes	1.0	0.7	0.1	-0.4	1.8
Inc Tax Ex Impact of Sp Items	0.1	0.0	0.0	0.2	0.1
Normalized Income After Taxes	0.9	0.7	0.1	-0.6	1.6
Normalized Inc. Avail to Com.	0.9	0.7	0.1	-0.6	1.6
Basic Normalized EPS	0.01	0.01	0.00	0.00	0.01
Diluted Normalized EPS	0.01	0.01	0.00	0.00	0.01
Depreciation	0.2	0.2	0.2	0.1	0.2
Interest Expense	0.0	0.0	0.0	0.0	0.0
Advertising	0.1	0.1	0.0	0.1	0.0
Rent	-	-	-	0.1	0.0
Current Tax	-	-	-	0.2	0.1
Current Tax - Total	-	-	-	0.2	0.1
Deferred Tax	-	-	-	0.0	-
Deferred Tax - Total	-	-	-	0.0	-
Income Tax - Total	-	-	-	0.2	0.1

Annual Balance Sheet

As Reported

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Mar-2011	31-Mar-2010	31-Mar-2009	31-Mar-2008	31-Mar-2007
UpdateType/Date	Updated Normal 31-Mar-2011	Updated Normal 31-Mar-2010	Reclassified Normal 31-Mar-2010	Reclassified Normal 31-Mar-2009	Updated Normal 31-Mar-2007
Filed Currency	OMR	OMR	OMR	OMR	OMR
Exchange Rate	0.385	0.385	0.385	0.38535	0.3849
Auditor	PricewaterhouseCoopers LLP	PricewaterhouseCoopers LLP	PricewaterhouseCoopers LLP	PricewaterhouseCoopers LLP	KPMG LLP
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified
Financial Assets Held to Maturity	0.0	3.9	0.0	-	-
Fish	4.0	3.2	4.0	3.8	1.7
Maintenance Spares	0.2	0.1	0.1	0.2	0.2
Packing Materials	0.4	0.3	0.2	0.3	0.1
Others	0.0	0.0	0.0	0.0	0.0
Provision for LIFO	-0.1	-0.1	-0.1	-0.1	-0.1
Trade Debtors	2.7	2.4	2.4	1.9	1.1
Other Receiavbles	2.7	1.4	0.7	0.9	0.7
Doubtful Accounts	-0.1	-0.6	-0.6	-0.5	-0.5
Prepayments	-	0.3	0.3	0.2	0.1
Accrued Interest	-	1.0	1.4	0.7	1.1
Bank Deposits	8.5	1.3	4.0	18.0	22.2
Investments	5.2	5.5	3.6	6.1	4.5
Cash/Equivalents	5.8	1.5	2.1	1.0	2.2
Total Current Assets	29.4	20.2	18.1	32.6	33.5
Land/Buildings	4.1	3.8	3.6	3.4	3.4
Plant/Equipment	5.2	4.9	4.7	4.9	4.7
Boats/Trawlers	0.7	0.0	1.2	1.6	1.5
Motor Vehicles	0.6	0.5	0.5	0.4	0.6
Furniture/Fixtures/Office Equip.	0.7	0.7	0.6	0.7	0.7
Work in Progress	0.0	0.6	-	-	-
Depreciation	-8.6	-8.3	-8.5	-8.1	-7.7
Investments	2.9	2.9	4.3	5.6	5.6
Fixed Deposits	10.6	18.1	14.7	5.6	-
Deferred Tax	0.1	0.1	0.0	0.0	0.0
Total Assets	45.7	43.5	39.2	46.7	42.3
Creditors/Accruals	0.8	2.0	1.9	2.0	1.5
Accrued Expenses	0.9	-	-	-	-
Customer Advances	0.1	-	-	-	-
Other payables	0.3	-	-	-	-
Taxation	0.4	0.4	0.2	0.1	0.2
Total Current Liabilities	2.4	2.4	2.1	2.1	1.7
End of Service Benefits	0.5	0.4	0.4	0.4	0.4
Deferred Tax	-	-	-	0.0	-
Total Liabilities	2.9	2.9	2.5	2.5	2.1
Share Capital	32.5	32.5	32.5	32.4	32.5
Legal Reserve	8.0	7.8	7.4	7.4	7.0
Capital Reserve	0.1	0.1	0.1	0.1	0.1
Retained Earnings	2.3	0.2	-3.2	4.2	0.6
Total Equity	42.8	40.6	36.7	44.2	40.2
Total Liabilities & Shareholders' Equity	45.7	43.5	39.2	46.7	42.3
S/O-Ordinary Shares	125.0	125.0	125.0	125.0	125.0
Total Common Shares Outstanding	125.0	125.0	125.0	125.0	125.0
Advance from Customers	0.1	0.1	0.0	-	-
Full-Time Employees	-	-	-	346	274
Reported Shareholder's Equity	16,537	-	-	-	-
Lease Due within 1 Year	-	-	-	0.0	0.0
Lease Due >1-5 Years	-	-	-	0.0	0.0
Total Operating Leases	-	-	-	0.0	0.1

Interim Balance Sheet

As Reported

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Dec-2011	30-Sep-2011	30-Jun-2011	31-Mar-2011	31-Dec-2010
UpdateType/Date	Updated Normal 31-Dec-2011	Updated Normal 30-Sep-2011	Updated Normal 30-Jun-2011	Updated Normal 31-Mar-2011	Updated Normal 31-Dec-2010
Filed Currency	OMR	OMR	OMR	OMR	OMR
Exchange Rate	0.385	0.38505	0.38505	0.385	0.385
Financial Assets Held to Maturity	-	-	-	0.0	-
Fish	13.4	7.0	4.2	4.0	3.7
Maintenance Spares	0.2	0.2	0.2	0.2	0.2
Packing Materials	0.5	0.4	0.4	0.4	0.5
Others	0.0	0.0	0.0	0.0	0.0
Provision for Slow Moving Inventory	-0.1	-0.1	-0.1	-0.1	-0.1
Trade Debtors, Gross	4.5	9.1	3.0	2.7	4.2
Provision Against Other Receivables	-0.1	-0.1	-0.6	-0.6	-0.6
Other Receivable	0.7	1.2	1.3	3.3	3.5
Accrued Interest	0.9	0.8	0.9	-	-
Prepayments	0.7	0.6	0.9	-	-
Due from Subsidiary Company	0.4	-	0.2	-	-
Investments	4.9	4.8	5.0	5.2	6.0
Bank Deposits	15.1	16.1	20.2	8.5	14.7
Cash/Equivalents	3.2	2.2	3.3	5.8	8.4
Preliminary Expenses	-	0.1	-	-	-
Total Current Assets	44.4	42.3	39.0	29.4	40.6
Land, Buildings and Cabins	7.1	6.5	4.2	4.1	3.9
Plant and Equipment	7.3	5.6	5.3	5.2	5.2
Boats and Trawlers	1.1	1.0	0.7	0.7	0.7
Motor Vehicles	1.1	0.7	0.6	0.6	0.6
Furniture, Fixtures and office Equipment	0.8	0.8	0.7	0.7	0.8
Depreciation	-9.3	-9.1	-8.9	-8.6	-8.7
Investments	2.9	2.9	2.9	2.9	2.9
Capital Work in Progress	-	-	-	0.0	-
Fixed Deposits	-	-	-	10.6	-
Deferred Tax	0.1	0.1	0.1	0.1	0.1
Total Assets	55.3	50.8	44.6	45.7	46.0
Creditors/Accruals	2.3	2.7	0.8	1.1	1.4
Accrued Expenses	0.5	-	0.2	0.9	0.5
Bank Overdrafts	9.5	6.1	-	-	0.0
Other Current Liabilities	-	-	2.3	-	-
Taxation	0.2	0.1	0.1	0.4	0.2
Total Current Liabilities	12.5	8.9	3.4	2.4	2.1
End of Service Benefits	0.5	0.5	0.5	0.5	0.4
Deferred Tax	-	0.0	-	-	0.0
Minority Interest	0.0	0.0	-	-	-
Total Liabilities	13.0	9.4	3.9	2.9	2.6
Share Capital	32.5	32.5	32.5	32.5	32.5
Capital Reserve	0.1	0.1	0.1	0.1	0.1
Legal Reserve	8.0	8.0	8.0	8.0	7.8
Retained Earnings	1.7	0.8	0.1	2.3	3.1
Total Equity	42.3	41.4	40.7	42.8	43.4
Total Liabilities & Shareholders' Equity	55.3	50.8	44.6	45.7	46.0
S/O-Ordinary Shares	125.0	125.0	125.0	125.0	125.0
Total Common Shares Outstanding	125.0	125.0	125.0	125.0	125.0
Full-Time Employees	-	388	359	-	355
Not later than one Year	-	-	-	-	0.0
Later than 1 Year & Less than 5 years	-	-	-	-	0.0
Total Operating Leases	-	-	-	-	0.0

Annual Cash Flows

As Reported

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Mar-2011	31-Mar-2010	31-Mar-2009	31-Mar-2008	31-Mar-2007
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Mar-2011	Updated Normal 31-Mar-2010	Reclassified Normal 31-Mar-2010	Reclassified Normal 31-Mar-2009	Updated Normal 31-Mar-2007
Filed Currency	OMR	OMR	OMR	OMR	OMR
Exchange Rate (Period Average)	0.385034	0.384992	0.384985	0.384873	0.384993
Auditor	PricewaterhouseCoopers LLP	PricewaterhouseCoopers LLP	PricewaterhouseCoopers LLP	PricewaterhouseCoopers LLP	KPMG LLP
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified
Net Income	2.5	4.1	-4.2	4.1	-1.0
Depreciation	0.6	0.6	0.7	0.7	0.7
Interest Income	-1.1	-1.2	-1.1	-1.3	-1.2
Dividend Income	-0.4	-0.2	-0.3	-0.2	-0.3
Profit on Sale of Investments	0.0	-0.6	1.6	-1.8	-
Profit on Sale of Fixed Assets	0.0	0.3	0.0	0.0	0.0
Loss on Write Off Fixed Assets	-	0.0	0.4	0.0	0.1
Interest Expense	0.0	0.0	0.0	0.0	-
Fair value Gains - Avail. for Sale inves	0.4	-0.9	3.3	-2.0	1.3
Amortisation of Premium on Investments	0.0	0.0	0.0	0.0	0.0
Dividend Written-Back	-	-	-	-	0.1
End of Service Benefits Expense	0.1	0.1	0.0	0.1	0.0
Payment of End of Service Benefits	0.0	-0.1	-0.1	-0.1	0.0
Inventories	-1.0	0.7	-0.1	-2.2	-0.7
Debtors and Prepayments	-1.0	0.0	-0.8	-1.1	0.4
Creditors and Accruals	-0.1	0.1	-0.2	0.5	0.1
Interest Paid	0.0	0.0	0.0	0.0	-
Interest Income	1.1	0.9	1.1	1.7	-
Tax Paid	-0.3	-0.1	0.0	-0.1	-0.1
Cash from Operating Activities	0.8	3.8	0.4	-1.8	-0.7
Capital Expenditure	-1.0	-1.0	-0.2	-0.5	-0.3
Reduction in Investment Share Capital	-	-	-	0.0	0.0
Purchase of Investments	-1.5	-4.5	-4.7	-3.9	-
Proceeds from Sale of Fixed Assets	0.0	0.1	0.0	0.0	0.0
Proceeds from Sale of Investments	1.3	4.2	2.4	6.1	4.4
Dividend Income	0.4	0.2	0.3	0.2	0.3
Investment Held to Maturity Financial	3.9	0.0	0.0	-	-
Interest Income Received	-	-	-	-	1.1
Bank Deposits	0.3	-0.7	4.9	-1.4	-3.1
HTM Financial Assets	0.0	-2.5	1.3	0.0	-
Cash from Investing Activities	3.5	-4.4	3.9	0.6	2.4
Dividend Paid	-	0.0	-3.2	0.0	-2.3
Cash from Financing Activities	-	0.0	-3.2	0.0	-2.3
Net Change in Cash	4.3	-0.6	1.1	-1.2	-0.6
Beginning Cash	1.5	2.1	1.0	2.2	2.8
Ending Cash	5.8	1.5	2.1	1.0	2.2
Cash Interest Paid	0.0	0.0	0.0	0.0	-
Cash Taxes Paid	0.3	0.1	0.0	0.1	0.1

Interim Cash Flows

As Reported

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Dec-2011	30-Sep-2011	30-Jun-2011	31-Mar-2011	31-Dec-2010
Period Length	9 Months	6 Months	3 Months	12 Months	9 Months
UpdateType/Date	Updated Normal 31-Dec-2011	Updated Normal 30-Sep-2011	Updated Normal 30-Jun-2011	Updated Normal 31-Mar-2011	Updated Normal 31-Dec-2010
Filed Currency	OMR	OMR	OMR	OMR	OMR
Exchange Rate (Period Average)	0.385019	0.385019	0.385023	0.385034	0.385021
Net Income	1.8	0.8	0.1	2.5	3.0
Depreciation	0.7	0.5	0.2	0.6	0.4
Interest Income	-0.7	-0.5	-0.2	-1.1	-0.9
Dividend Income	0.0	0.0	0.0	-0.4	-0.3
Sale of Investments	0.0	0.0	0.0	0.0	-0.1
Profit on Sale of Fixed Assets	-	-	-	0.0	0.0
Interest Expense	0.0	0.0	0.0	0.0	0.0
Fair Value ( gains) loss- Investments	0.4	0.5	0.1	0.4	0.0
Amortization of Premium on Invest.	0.0	0.0	0.0	0.0	3.9
End of Service Benefits Expense	0.0	0.0	0.0	0.1	0.0
End of Service Paid	0.0	0.0	0.0	0.0	0.0
Inventories	-8.4	-3.0	-0.2	-1.0	-0.8
Tax Payable	-0.3	-	-	-	-0.3
Debtors and Prepayments	2.1	-6.5	-0.3	-1.0	-2.5
Creditors & Accruals	0.9	0.8	1.3	-0.1	-0.5
Interest Paid	-	-	0.0	0.0	-
Interest Income	-	-	-	1.1	-
Tax Paid	-	-0.3	-0.3	-0.3	0.0
Adjustment	-	-	-0.2	-	-
Cash from Operating Activities	-3.5	-7.7	0.6	0.8	2.0
Purchase of Fixed Assets	-6.0	-3.3	-0.1	-1.0	-0.7
Purchase of Investments	-0.7	-0.5	-0.3	-1.5	-1.2
Sale of Investments	0.6	0.5	0.3	1.3	0.8
Sale of Fixed Assets	-	-	-	0.0	0.0
Dividends Income	0.0	0.0	0.0	0.4	0.3
Interest Received	0.7	0.6	0.3	-	1.1
Bank Deposits	4.1	3.0	-1.0	-	4.7
HTM Financial Assets	-	-	0.0	0.0	0.0
Investing Activity	-	-	-	3.9	-
Bank Overdraft/Deposits	9.5	6.1	-	0.3	0.0
Cash from Investing Activities	8.3	6.4	-0.8	3.5	5.0
Interest Paid	0.0	0.0	-	-	0.0
Dividend Paid	-2.3	-2.3	-2.3	-	0.0
Cash from Financing Activities	-2.3	-2.3	-2.3	-	0.0
Net Change in Cash	2.6	-3.6	-2.5	4.3	6.9
Beginning Cash	5.8	5.8	5.8	1.5	1.5
Ending Cash	3.2	2.2	3.3	5.8	8.4
Cash Interest Paid	0.0	0.0	-	0.0	0.0
Cash Taxes Paid	-	0.3	0.3	0.3	0.0

Geographic Segments

Financials in: As Reported (mil)

Annual

External Sale USD (mil)
	31-Mar-11		31-Mar-10		31-Mar-09		31-Mar-08		31-Mar-06
Far East	23.0	50.2 %	12.3	40.1 %	11.5	40.6 %	13.1	50.1 %	7.6	44.5 %
Europe	3.2	7 %	2.2	7.2 %	3.0	10.7 %	3.4	13.1 %	4.1	23.8 %
GCC & Middle East	16.1	35.1 %	11.7	38 %	10.7	38 %	8.3	31.8 %	4.4	25.9 %
Others	3.5	7.7 %	4.5	14.7 %	3.0	10.6 %	1.3	5 %	1.0	5.8 %
Segment Total	45.8	100 %	30.7	100 %	28.2	100 %	26.1	100 %	17.1	100 %
Consolidated Total	45.8	100 %	30.7	100 %	28.2	100 %	26.1	100 %	17.1	100 %
Exchange Rate: OMR to USD	0.385034		0.384992		0.384985		0.384873		0.384995
Total Sale USD (mil)
	31-Mar-11		31-Mar-10		31-Mar-09		31-Mar-08		31-Mar-06
Far East	23.0	50.2 %	12.3	40.1 %	11.5	40.6 %	13.1	50.1 %	7.6	44.5 %
Europe	3.2	7 %	2.2	7.2 %	3.0	10.7 %	3.4	13.1 %	4.1	23.8 %
GCC & Middle East	16.1	35.1 %	11.7	38 %	10.7	38 %	8.3	31.8 %	4.4	25.9 %
Others	3.5	7.7 %	4.5	14.7 %	3.0	10.6 %	1.3	5 %	1.0	5.8 %
Segment Total	45.8	100 %	30.7	100 %	28.2	100 %	26.1	100 %	17.1	100 %
Consolidated Total	45.8	100 %	30.7	100 %	28.2	100 %	26.1	100 %	17.1	100 %
Exchange Rate: OMR to USD	0.385034		0.384992		0.384985		0.384873		0.384995

Geographic Segments

Financials in: As Reported (mil)

Interim

External Sale USD (mil)
	31-Dec-11		30-Sep-11		31-Mar-11		31-Dec-10		30-Sep-10
Far East	12.2	64.2 %	14.8	51.8 %	2.7	30.1 %	10.9	62.6 %	7.0	57.1 %
Europe	0.8	4.3 %	1.9	6.7 %	0.5	6.1 %	0.8	4.8 %	1.2	10.1 %
GCC & Middle East	3.7	19.6 %	8.2	28.7 %	4.8	53.1 %	4.6	26.6 %	3.5	28.6 %
Others	2.3	11.9 %	3.6	12.8 %	1.0	10.7 %	1.0	5.9 %	0.5	4.2 %
Segment Total	19.0	100 %	28.5	100 %	9.0	100 %	17.3	100 %	12.3	100 %
Consolidated Total	19.0	100 %	28.5	100 %	9.0	100 %	17.3	100 %	12.3	100 %
Exchange Rate: OMR to USD	0.385019		0.385019		0.385072		0.385068		0.385004
Total Sale USD (mil)
	31-Dec-11		30-Sep-11		31-Mar-11		31-Dec-10		30-Sep-10
Far East	12.2	64.2 %	14.8	51.8 %	2.7	30.1 %	10.9	62.6 %	7.0	57.1 %
Europe	0.8	4.3 %	1.9	6.7 %	0.5	6.1 %	0.8	4.8 %	1.2	10.1 %
GCC & Middle East	3.7	19.6 %	8.2	28.7 %	4.8	53.1 %	4.6	26.6 %	3.5	28.6 %
Others	2.3	11.9 %	3.6	12.8 %	1.0	10.7 %	1.0	5.9 %	0.5	4.2 %
Segment Total	19.0	100 %	28.5	100 %	9.0	100 %	17.3	100 %	12.3	100 %
Consolidated Total	19.0	100 %	28.5	100 %	9.0	100 %	17.3	100 %	12.3	100 %
Exchange Rate: OMR to USD	0.385019		0.385019		0.385072		0.385068		0.385004

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.57.22
UK Pound	1	Rs.89.42
Euro	1	Rs.71.46

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.