MIRA INFORM REPORT

Report Date :

27.03.2012

IDENTIFICATION DETAILS

Name :	GLOBAL MATTRESS GROUP - LIMITED LIABILITY COMPANY
Registered Office :	Zelenyy prosp., 20, Moscow, 111397
Country :	Russian Federation
Financials (as on) :	01.01.2009
Date of Incorporation :	25.04.2008
Com. Reg. No.:	1087746560945
Legal Form :	OOO (Limited Liability Company by Russian Law)
Line of Business :	Manufacture and sales of orthopedic mattresses, bases under mattresses, pillows, mattress covers, beds.
No. of Employees :	50 Approximately

RATING & COMMENTS

MIRA’s Rating :

B

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

Maximum Credit Limit :	15 000 USD
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)
Russia	A2	A2

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

Comments

Information

The address mentioned in your inquiry belongs to the company Obschestvo s ogranichennoy otvetstvennostyu "GLOBAL MATRESS GRUP" (name in English: "GLOBAL MATTRESS GROUP" LIMITED LIABILITY COMPANY). We provide the report on this company. We couldn’t get the financial data on the company of 2009-2010 years, because there weren’t company’s financial data of 2009-2010 years in the Federal Statistics Service of Russian Federation. During the investigation we’ve talked to the shareholder of the company Ms Sinyagina Ol'ga Vladimirovna. We've sent the inquiry to the company with request to provide us new financial data. The shareholder of the company has promised us to provide them but at the moment we haven’t received a reply yet. If we receive additional information we’ll send you the renewed credit report.

Summary

Original Name	Obschestvo s ogranichennoy otvetstvennostyu "GLOBAL MATRESS GRUP"
Legal Form	OOO (Limited Liability Company by Russian Law)
Year of Foundation	2008
Sales	99 807 th RUR for 12 months, ended 01.01.2009
Employees	50 (approx.) on March, 25, 2012 (company's data)

Creditline Recommendations

Credit Limit

15 000 USD

Company Identification Details

Original Name	Obschestvo s ogranichennoy otvetstvennostyu "GLOBAL MATRESS GRUP"
Short Name	OOO "GMG"
Name in English	"GLOBAL MATTRESS GROUP" LIMITED LIABILITY COMPANY
Address	Zelenyy prosp., 20, Moscow, 111397, Russian Federation
Legal Address	Martenovskaya str., 36, Moscow, 111394, Russian Federation
Phone	+7 (495) 2312001, 2295037 +7 (4932) 353429
Fax	+7 (495) 2312001, 2295037 +7 (4932) 353429
E-mail	info@ormatek.com
WEB Address	www.ormatek.com

Official Company Data

Legal Form	OOO (Limited Liability Company by Russian Law)
Date of Registration	25.04.2008
Registration Number	1087746560945
Statistic Code (OKPO)	86395870
Taxpayer Code (INN)	7720616357
Registration Authority	Federal Tax Service of Russian Federation

Public Record Information

Information

The company Obschestvo s ogranichennoy otvetstvennostyu "GLOBAL MATRESS GRUP" was not included in the published list of bankrupt companies.

Share Capital

Current Share Capital

12 500 RUR (since 11.08.2010)

Shareholders

Total	1 private person
Shareholder	Ms Sinyagina Ol'ga Vladimirovna
Nationality	Russian Federation
Share	100 %

Directors

Director	Mr Mal'tsev Andrey Valentinovich
	Signature Right
Nationality	Russian Federation
Taxpayer Code (INN)	370251332766

Re-Registration Data

Date of Registration	25.04.2008
	(Entering into the Single State Register of Legal Entities)
Registration Number	1087746560945
Registration Authority	Federal Tax Service of Russian Federation
Date of Re-registration	08.07.2008
File Number	2087757391566
Registration Authority	Federal Tax Service of Russian Federation
Changes	Company's Rules
Date of Re-registration	11.03.2010
File Number	8107746168984
Registration Authority	Federal Tax Service of Russian Federation
Changes	Company's Rules
Date of Re-registration	11.08.2010
File Number	2107748104869
Registration Authority	Federal Tax Service of Russian Federation
Changes	Share Capital

Operations

Activities	Manufacture and sales of orthopedic mattresses, bases under mattresses, pillows, mattress covers, beds. The company sells goods under brand ORMATEK. The company enters into the group of companies ORMATEK. Also into the group of companies enter the following company OOO "UPRAVLYAYUSCHAYA KOMPANIYA "ORMATEK". The group of companies operates on the market of orthopedic mattresses, bases under mattresses, pillows, mattress covers, beds.
Staff Employed	50 (approx.) on March, 25, 2012 (company's data)
Employees' History	50 (approx.) on June, 16, 2011 (company's data)

Real Estate

Own	none
Rent	Office Address: Zelenyy prosp., 20, Moscow, 111397, Russian Federation (company's data) Office, warehouse, industrial area Address: Smirnova str., 102, Ivanovo, Ivanovo Region, 153006, Russian Federation (company's data)

Export & Import

Export Countries	2009-2010: Kazakhstan
Exported Goods	furniture, mattresses
Export Value	in 2011: none in 2010: 69 306 USD in 2009: 97 561 USD in 2008: none
Import Countries	2011: China, Belgium, Italy, Czechia, Turkey, Cyprus, Netherlands, USA, Korea 2010: Italy, China, Switzerland, Spain, USA 2009: Italy
Imported Goods	equipment, spare parts, fixing products, printed matter, furniture, fabrics
Import Value	in 2011: 1 591 925 USD in 2010: 1 320 757 USD in 2009: 27 093 USD in 2008: none

Branches

Branch

The company has got branch situated at the following address: Address: Smirnova str., 102, Ivanovo, Ivanovo Region, 153034, Russian Federation According to the company's administration the company has got representations in following cities of Russian Federations: Novosibirsk, Rostov-on-Don, Nizhny Novgorod, Yekaterinburg, Kazan, Samara.

Participation

Information

None

Related Companies

Information

Ms Sinyagina Ol'ga Vladimirovna is also a shareholder of company OOO "UPRAVLYAYUSCHAYA KOMPANIYA "ORMATEK" Registration Number: 1107746372150

Bankers

Bank	AKTSIONERNYY KOMMERCHESKIY SBEREGATEL'NYY BANK ROSSIYSKOY FEDERATSII (OAO), branch "LEFORTOVSKIY" No 6901 (Russian Federation)
Bank	OAO AKB "INVESTITSIONNYY TORGOVYY BANK" (Russian Federation)

Financial Data

Profit and Loss (extract)

The following figures are shown in units of 1000

Period, months	12
Ended	01.01.2009
Currency	RUR
SALES	99807
Cost of Goods sold	98289
GROSS PROFIT	1518
Distribution Costs
Management Costs	1544
OPERATING PROFIT	-26
Non Trading Income	72
PRE TAX PROFIT	46
Taxation	11
PROFIT AFTER TAX	35

Balance Sheet (extract)

The following figures are shown in units of 1000

As at	01.01.2009
Currency	RUR
TOTAL FIXED ASSETS	29
Intangible Assets
Fixed Assets
TOTAL CURRENT ASSETS	6945
Stock	881
Trade debtors	890
Cash	5174
TOTAL ASSETS	6974
TOTAL EQUITY	45
Share Capital	10
Retained Profits	35
TOTAL LONG TERM LIABS
Long Term Loans
TOTAL CURRENT LIABS	6929
Short Term Loans
Short Term Trade Creditors	6929
TOTAL EQUITY & LIABS	6974

Key Credit Ratios

The following figures are shown as Ratios or Percentages

Accounts Date	01.01.2009
Current Ratio	1
Working Capital, x1000 RUR	16
Quick Ratio	0,88
Debt to Equity Ratio	153,98
Current Assets Turnover	14,37
Total Assets Turnover Ratio	14,31
Pre Tax Profit Margin, %	0,05
Gross Profit, %	1,52
Return on Investment, %	102,22
Return on Assets, %	0,66

Clients & Suppliers

Clients

TOO "INTER LODZHIK" (Kazakhstan) TOO "TD "UTRENNIY" (Kazakhstan)

Suppliers

YUANTIAN MATTRESS MACHINERY CO., LTD. (China) SALVADORI SRL (Italy) MERELLO INGENIEROS SL (Spain) TECNOMAC SRL (Italy) GOMMAGOMMA S.P.A. (Italy) LEGGET & PLATT (SHANGHAI) MACHINERY TECHNOLOGY CO., LTD. (China) SKAAT SRL (Italy) BEKAERT TEKSTIL SAN. VE TIC. A.S. (Turkey) PORTER INTERNATIONAL (USA) *** The names of foreign partners may be pointed incorrectly as in official documents (declarations) they’re written in Russian. We present our apologies for possible mistakes in transliteration.

Actions at law

According to Arbitration court of Moscow judicial claims of the company are not registered.

Financial Data

We couldn’t get the financial data on the company of 2009-2010 years, because there weren’t company’s financial data of 2009-2010 years in the Federal Statistics Service of Russian Federation.

Original Financial Data

(Russian Accounting Report in English)

Balance Sheet

The following figures are shown in units of 1000

ASSETS	Line code	as at	as at 01.01.2009
I. NON-CURRENT ASSETS
Intangible assets	110	-	-
Fixed assets	120	-	-
Construction in progress	130	-	-
Income-bearing investments in tangible assets	135	-	-
Long-term financial investments	140	-	-
Deferred tax assets	145	-	-
Other non-current assets	150	-	29
Total section I	190	-	29
II. CURRENT ASSETS
Inventories	210	-	881
including :
raw materials and other inventories	211	-	856
livestock	212	-	-
work in progress	213	-	2
finished goods and goods for resale	214	-	6
goods dispatched	215	-	-
expenses related to future periods	216	-	17
other supplies and expenditures	217	-	-
Value added tax on purchased goods	220	-	-
Accounts receivable (payments expected beyond 12 months after the reporting date)	230	-	-
including :
buyers and customers	231	-	-
Accounts receivable (payments expected within 12 months after the reporting date)	240	-	890
including :
buyers and customers	241	-	602
Short-term investments	250	-	-
Monetary assets	260	-	5174
Other current assets	270	-	-
Total section II	290	-	6945
TOTAL SECTIONS I and II	300	-	6974
EQUITY AND LIABILITIES
III. EQUITY AND RESERVES
Share capital	410	-	10
Treasury shares	411	-	-
Additional capital	420	-	-
Legal reserve	430	-	-
including :
reserves and provisions formed in  accordance with legislation	431	-	-
reserves formed in accordance  with foundation documents	432	-	-
Retained earnings (loss)	470	-	35
Total section III	490	-	45
IV. NON-CURRENT LIABILITIES
Borrowings	510	-	-
Deferred tax liabilities	515	-	-
Other non-current liabilities	520	-	-
Total section IV	590	-	-
V. CURRENT LIABILITIES
Borrowings	610	-	-
Accounts payable	620	-	6929
including :
suppliers and contractors	621	-	6200
salaries payable	622	-	93
payable to state non-budget funds	623	-	111
taxes payable	624	-	522
other creditors	625	-	3
Dividends payable to participants (shareholders)	630	-	-
Income of future periods	640	-	-
Reserves for future expenses and payments	650	-	-
Other current liabilities	660	-	-
Total section V	690	-	6929
TOTAL SECTIONS III,IV,V	700	-	6974

PROFIT AND LOSS ACCOUNT

The following figures are shown in units of 1000

PARAMETER	Line code	01.01.2009
INCOME FROM AND EXPENSES ON ORDINARY ACTIVITIES
Sale of goods, products, work, services (less VAT, excise tax, other similar mandatory payments)	010	99807	-
Cost of goods, products, work, services sold	020	98289	-
Gross profit	029	1518	-
Selling expenses	030	-	-
Administrative expenses	040	1544	-
Profit (loss) from operations	050	-26	-
OTHER INCOME AND EXPENSES
Interest income	060	-	-
Interest expenses	070	-	-
Income from investments in other companies	080	-	-
Other operating income	090	684	-
Other operating expenses	100	612	-
Non-operating income	120	-	-
Non-operating expenses	130	-	-
Profit (loss) before profit tax	140	46	-
Deferred tax assets	141	-	-
Deferred tax liabilities	142	-	-
Current profit tax	150	11	-
Net profit (loss) for the reporting period	190	35	-

Rates of Exchange

RUR - Russian Rouble	01.01.2011:   1 EUR = 40.49 RUR,   1 USD = 30.35 RUR
EUR - EURO	01.01.2010:   1 EUR = 43.46 RUR,   1 USD = 30.19 RUR
USD - US Dollar	01.01.2009:   1 EUR = 41.43 RUR,   1 USD = 29.39 RUR

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.51.30
UK Pound	1	Rs.81.36
Euro	1	Rs.67.97

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.