MIRA INFORM REPORT

Report Date :

26.03.2012

IDENTIFICATION DETAILS

Name :	EXPORT TRADING COMMODITIES PTE. LTD.

Registered Office :	20 Cecil Street, #14-01 Equity Plaza Singapore 049705

Country :	Singapore

Financials (as on) :	31.12.2011

Date of Incorporation :	04.05.2010

Com. Reg. No.:	201009524M

Legal Form :	Private Limited Liability Company

Line of Business :	Trading & Distribution of Agricultural Commodities

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

Maximum Credit Limit :	USD 30,000
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 – September 30, 2011

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

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:	Export Trading Commodities Pte. Ltd.
Supplied Name:	ETG Export Trading Commodities Pte Ltd.
Trading Address:	One Raffles Place, #44-01A, OUB Centre, Singapore 048616
Supplied Address:	Reg. No. 201009524m, One Raffles Place #44-01A Oub Centre Singapore 048616
Telephone Number:	+65-65368400
Fax Number:	+65-65364470
E-mail:	info.singapore@etgworld.com

Notes: The exact subject’s name and address are as above mentioned.

Credit Summary

Credit Rating:	Maximum credit USD 30,000
Credit Opinion:	Business connections are permissible.

Company Identification Details

Registered Name:	Export Trading Commodities Pte. Ltd.
Registered Address:	20 Cecil Street, #14-01 Equity Plaza Singapore 049705
Date of Registration::	2010-5-4
Registered Number:	201009524M
Country of Incorporation:	Singapore
Registered Capital:	SGD 1,000,000.00 (USD 780,300.00) (As of 2012.03, 1 SGD = 0.7803 USD)
Paid-up Capital:	SGD1,000,000.00 (USD 780,300.00) =1,000,000 Shares@1 SGD
Legal Form:	Private Limited Liability Company
Principal Activities:	46900 Trading & Distribution of Agricultural Commodities
Staff:	N/A
Status:	Live
Listed at Stock Exchange:	No
Date of Last Annual Return:	2011-10-14

Notes: Subject declined to introduce its staff number.

History

Subject was incorporated on 2010-5-4 with registered number 201009524M as Private Limited Liability Company in Singapore.

Shareholders

Unit: SGD

Name	Subscription Shares	Proportion of Investment (%)
ETC Group	1,000,000	100%
Total	1,000,000	100%

Major Shareholder Information:

Name:	ETC Group
ID Number:	T10UF1760H
Address:	ST. Louis business centre, cnr desroches & st. Louis streets, port louis, mauritius
Nationality:	Mauritius

Management Information

Core Management

Detailed Information of Management:

1
Name:	Maheshkumar Raojibhai Patel
Position:	Director
ID Number:	AB312563
Address:	Plot No. 1505, Msasani Peninsula, Msasani Kinondoni, Dar Es Salaam, Tanzania
Nationality:	Tanzanian
Date of Appointment:	2010-5-4
2
Name:	Pradipikumar Raojibhai Patel
Position:	Director
ID Number:	C001426
Address:	Galana Road, Lr No.2/624, Kilimani Area, Nairoby, Kenya
Nationality:	Kenyan
Date of Appointment:	2010-5-4
3
Name:	Ketankumar Vinubhai Patel
Position:	Director
ID Number:	G5076425M
Address:	1 Raffles Place #44-01A One Raffles Place Singapore 048616
Nationality:	British
Date of Appointment:	2010-5-4
4
Name:	Ketankumar Vinubhai Patel
Position:	Managing Director
ID Number:	G5076425M
Address:	1 Raffles Place #44-01A One Raffles Place Singapore 048616
Nationality:	British
Date of Appointment:	2010-5-4
5
Name:	Lim Soh Sea
Position:	Secretary
ID Number:	S7077960I
Address:	101A Lorong 2 Toa Payoh #08-07 Singapore 310101
Nationality:	Singapore Citizen
Date of Appointment:	2010-5-4
6
Name:	Azman Bin Abdullah
Position:	Secretary
ID Number:	S7321299E
Address:	407 Jurong West Street 42 #02-643 Singapore 640407
Nationality:	Singapore Citizen
Date of Appointment:	2010-5-4

Operation Information

Offices & Factories

	Office
Address:	One Raffles Place, #44-01A, OUB Centre, Singapore 048616

Purchase

l Subject purchases agricultural products.

l Subject purchases from local agriculture products suppliers.

Sales Information

l Subject is mainly engaged in sales of agricultural products.

l Subject’s products are pulses, cashew nuts, ground nuts, rice and all agricultural products, etc.

l Subject’s main markets are domestic markets.

l Subject seldom exports.

Settlements

Purchase

Domestic Markets

Products	Payment Terms	Proportion
Agricultural products	COD, etc.	100%

Overseas Markets

Note: Subject seldom exports.

Sales

Domestic Markets

Product	Sales Terms	Proportion
Agricultural products	COD, etc.	100%

Overseas Markets

Note: Subject seldom exports.

Balance Sheet

Unit: SGD

Date	2011-12-31
Total Assets	4,528,586.00
Total Current Assets	4,399,483.00
Total Non-Current Assets F.K.A. [Fixed And Others]	129,103.00
Total Liabilities	3,713,945.00
Total Current Liabilities	3,713,945.00
Total Non-Current Liabilities	0.00
Total Equity F.K.A [Shareholder's Funds]	814,641.00
Paid-Up Capital	N.A.
Share Capital	742,250.00
Other Reserves, Total F.K.A. [Reserves]	0.00
Retained Earnings/(Accumulated Loss)	72,391.00

Profit/Loss Account

Unit: SGD

Date	2011
Revenue f.k.a [Sales Turnover And Other Operating Revenues]	18,149,983.00
Profit/(Loss) before Tax from Continuing Operations f.k.a [Profit/(Loss) before tax]	72,391.00
Profit/(Loss) after Tax from Continuing Operations f.k.a [Profit/(Loss) After Tax]	72,391.00
Net Income/(Loss) From Extraordinary And Non-Operating Items	N.A.
Profit/(Loss) After Tax and Extraordinary Items	N.A.

Financial Ratio

Date	2011
Earning Capacity
Rate of net profit on sales (%)	0.40
Return of investment (%)	1.60
Return of shareholder's funds	8.89
Total assets turnover (%)	4.01
Financial Stability
Current/working capital ratio (%)	1.18
Proprietary ratio (%)	17.99
Total debt to equity ratio (%)	82.01

Auditors

Name:

KPMG LLP

Public

Charges

Charge 1
Charge Number:	C201105023
Date of Registration:	2011-4-21
Name:	FBN Bank (UK) Ltd
Amount Secured:	All Monies
Charge 2
Charge Number:	C201105037
Date of Registration:	2011-4-21
Name:	FBN Bank (UK) Ltd
Amount Secured:	All Monies
Charge 3
Charge Number:	C201105046
Date of Registration:	2011-4-21
Name:	FBN Bank (UK) Ltd
Amount Secured:	All Monies
Charge 4
Charge Number:	C201105048
Date of Registration:	2011-4-21
Name:	FBN Bank (UK) Ltd
Amount Secured:	All Monies
Charge 5
Charge Number:	C201105052
Date of Registration:	2011-4-21
Name:	FBN Bank (UK) Ltd
Amount Secured:	All Monies
Charge 6
Charge Number:	C201110093
Date of Registration:	2011-8-15
Name:	ING Bank N.V.
Amount Secured:	All Monies
Charge 7
Charge Number:	C201111858
Date of Registration:	2011-9-21
Name:	BNP Paribas
Amount Secured:	All Monies
Charge 8
Charge Number:	C201200560
Date of Registration:	2012-1-12
Name:	The Standard Bank of South Africa Limited
Amount Secured:	All Monies
Charge 9
Charge Number:	C201200563
Date of Registration:	2012-1-12
Name:	The Standard Bank of South Africa Limited
Amount Secured:	All Monies
Charge 10
Charge Number:	C201200568
Date of Registration:	2012-1-12
Name:	The Standard Bank of South Africa Limited
Amount Secured:	All Monies
Charge 11
Charge Number:	C201200569
Date of Registration:	2012-1-12
Name:	The Standard Bank of South Africa Limited
Amount Secured:	All Monies
Charge 12
Charge Number:	C201200576
Date of Registration:	2012-1-12
Name:	The Standard Bank of South Africa Limited
Amount Secured:	All Monies
Charge 13
Charge Number:	C201200600
Date of Registration:	2012-1-12
Name:	The Standard Bank of South Africa Limited
Amount Secured:	All Monies

Interview Details

Name:

Kailesh

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.50.90
UK Pound	1	Rs.80.77
Euro	1	Rs.67.40

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.