MIRA INFORM REPORT

Report Date :

21.03.2012

IDENTIFICATION DETAILS

Name :	PROMARK BLUE FZC

Registered Office :	Ajman Free Zone, P O Box 40162 & 6961, Ajman

Country :	United Arab Emirates

Date of Incorporation :	14.10.2010

Legal Form :	Free Zone Company

Line of Business :	Distributors of fresh and frozen seafood products.

No. of Employees :	05

RATING & COMMENTS

MIRA’s Rating :

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

Maximum Credit Limit :	US$ 60,000

Status :	Small Company

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 – September 30^th, 2011

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

United Arab Emirates

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

SUMMARY

Company Name : PROMARK BLUE FZC

Country of Origin : Ajman, United Arab Emirates

Legal Form : Free Zone Company - FZC

Registration Date : 14^th October 2010

Trade Licence Number : 5560

Issued Capital : UAE Dh 1,000,000

Paid up Capital : UAE Dh 1,000,000

Total Workforce : 5

Activities : Distributors of fresh and frozen seafood products.

Financial Condition : Undetermined

Payments : Nothing detrimental uncovered

Recommended Credit Limit : US$ 60,000

COMPANY NAME

PROMARK BLUE FZC

company ADDRESS

Registered & Physical Address

Location : Ajman Free Zone

PO Box : 40162 & 6961

Town : Ajman

Country : United Arab Emirates

Telephone : (971-6) 7316642

Facsimile : (971-6) 7316643

Mobile : (971-55) 7799018

Email : promarkblue@gmail.com / promark7@eim.ae / mail@promarkblue.com

Premises

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

Branch Office (s)

Location Description

· PO Box: 99104 Office & Warehouse premises

Dubai

Tel: (971-4) 4227582

Fax: (971-4) 4227881

KEY PRINCIPALS

Name Nationality Position

· Arshad Ibrahim Indian Managing Director

· Pascal Abdullah Lebanese Director

LEGAL FORM & OWNERS

Date of Establishment : 14^th October 2010

Legal Form : Free Zone Company - FZC

Trade Licence No. : 5560 (Expires 13/10/2012)

Issued Capital : UAE Dh 1,000,000

Paid up Capital : UAE Dh 1,000,000

Name of Shareholder (s)

· Arshad Ibrahim

· Pascal Abdullah

OPERATIONS

Activities: Engaged in the import and distribution of fresh and frozen seafood products.

Import Countries: Europe and the Far East.

Brand Names: BLUMAR

Subject has a workforce of 5 employees.

FINANCIAL DATA

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

BANKERS

· HSBC Bank Middle East

Main Branch

Ajman

Tel: (971-6) 5537222

Fax: (971-6) 5537880

PAYMENT HISTORY

No complaints regarding subject’s payments have been reported.

GENERAL COMMENTS

During the course of this investigation nothing detrimental was uncovered regarding subject’s operating history or the manner in which payments are fulfilled. As such the company is considered to be a fair trade risk.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.50.25
UK Pound	1	Rs.79.76
Euro	1	Rs.66.52

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
----	NB	New Business	----

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.