MIRA INFORM REPORT

Report Date :

02.05.2012

IDENTIFICATION DETAILS

Name :	OHAD METALS INTERNATIONAL FZE
Registered Office :	Building C, Office No. 1101, Ajman Free Zone, P O Box19330, Ajman
Country :	United Arab Emirates
Financials (as on) :	31.12.2011
Date of Incorporation :	13.06.2009
Legal Form :	Free Zone Establishment
Line of Business :	Distributors of ferrous and non-ferrous metals
No. of Employees :	05

RATING & COMMENTS

MIRA’s Rating :

Ba

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
Payment Behaviour :	Usually Correct
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)
United Arab Emirates	A2	A2

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

SUMMARY

Company Name : OHAD METALS INTERNATIONAL FZE

Country of Origin : Ajman, United Arab Emirates

Legal Form : Free Zone Establishment - FZE

Registration Date : 13^th June 2009

Trade Licence Number : 4847

Issued Capital : UAE Dh 1,000,000

Paid up Capital : UAE Dh 1,000,000

Total Workforce : 5

Activities : Distributors of ferrous and non-ferrous metals

Financial Condition : Fair

Payments : Nothing detrimental uncovered

Operating Trend : Steady

COMPANY NAME

OHAD METALS INTERNATIONAL FZE

company ADDRESS

Registered & Physical Address

Building : Building C, Office No. 1101

Area : Ajman Free Zone

PO Box : 19330

Town : Ajman

Country : United Arab Emirates

Telephone : (971-6) 7478905

Facsimile : (971-6) 7478906

Mobile : (971-50) 6448271 / 5567214

Email : zia@ohadmetals.com / ziamomin@hotmail.com

Premises

Subject operates from a small suite of offices that are rented and located in the Free Zone Area of Ajman.

KEY PRINCIPALS

Name Nationality Position

· Zia Rahman Gulmomin Pakistani Managing Director

· Sajjad Rahman - General Manager

LEGAL FORM & OWNERS

Date of Establishment : 13^th June 2009

Legal Form : Free Zone Establishment – FZE

Trade Licence No. : 4847

Issued Capital : UAE Dh 1,000,000

Paid up Capital : UAE Dh 1,000,000

Name of Shareholder (s) Percentage

· Zia Rahman Gulmomin 100%

AFFILIATED COMPANIES

· Shamir Marketing Consultancy WLL (SMMC WLL)

Manama

Bahrain

· Ohad International

Karachi

Pakistan

OPERATIONS

Activities: Engaged in the import and distribution of ferrous and non-ferrous metals.

Import Countries: Europe and the Far East.

Operating Trend: Steady

Subject has a workforce of 5 employees.

FINANCIAL DATA

Financial highlights provided by local sources are given below:

Currency: United States Dollars (US$)

Year Ending 31/12/10: Year Ending 31/12/11:

Total Sales US$ 10,000,000 US$ 10,750,000

Local sources consider subject’s financial condition to be Fair.

The above financial figures are based on estimations by our local sources.

BANKERS

· Abu Dhabi Commercial Bank

PO Box: 1843

Ajman

Tel: (971-6) 7443444

Fax: (971-6) 7443300

PAYMENT HISTORY

No complaints regarding subject’s payments have been reported.

GENERAL COMMENTS

Please note that we were unable to contact the subject directly during our investigation.

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.52.68
UK Pound	1	Rs.85.12
Euro	1	Rs.69.38

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%)

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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.