MIRA INFORM REPORT

Report Date :

03.05.2012

IDENTIFICATION DETAILS

Name :	FARLIN TIMBERS PTE LTD

Formerly Known As :	Virgin Wood Products Pte Ltd

Registered Office :	435 Orchard Road #21-01 Wisma Atria Singapore 238877

Country :	Singapore

Date of Incorporation :	03.08.1994

Com. Reg. No.:	199405441Z

Legal Form :	Private Limited Exempt Company

Line of Business :	Trading of timber logs

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

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

Status :	Satisfactory

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)

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:	Farlin Timbers Pte Ltd
Supplied Name:	Farlin Timbers
Trading Address:	435 Orchard Road #21-01 Wisma Atria Singapore 238877
Supplied Address:	435 Orchard Road 21-01 Wisma Stria Singapore
Telephone Number:	+65-6398-1188
Fax Number:	+65-6398-1177
E-mail:	farlintimbers@farlingroup.com

Note:

The supplied name is incomplete, and the exact name is as above.

The exact address is as above.

Credit Summary

Credit Opinion:

Business connections are permissible.

Company Identification Details

Registered Name:	Farlin Timbers Pte Ltd
Registered Address:	435 Orchard Road #21-01 Wisma Atria Singapore 238877
Date of Registration::	1994-8-3
Registered Number:	199405441Z
Country of Incorporation:	Singapore
Registered Capital:	SGD 55,000,000.00 (USD 44,465,600) (As of 2012.5, 1 SGD = 0.80847 USD)
Paid-up Capital:	SGD 55,000,000.00 (USD 44,465,600) = 55,000,00 Shares@1 SGD
Legal Form:	Private Limited Exempt Company
Principal Activities:	Trading of timber logs.
Staff:	N/A
Status:	Live Company
Listed at Stock Exchange:	No.
Date of Last Annual Return:	2012-3-27

Note:

Subject declined to disclose the staff number, and from other sources, we couldn’t obtain the information, either.

History

Subject was incorporated on 1994-8-3 with registered number 199405441Z as Private Limited Exempt Company in Singapore.

Change of Name:

Date	Change
1994-8-3	Virgin Wood Products Pte Ltd
1997-10-2	Farlin Timbers Pte Ltd

Shareholders

Unit: SGD

Name	Subscription Amount	Proportion of Investment (%)
MOHAMMED FAROUK	55,000,000	100%
Total	55,000,000	100%

Major Shareholder Information:

Name:	MOHAMMED FAROUK
ID Number:	S2715761J
Address:	95 GRANGE ROAD #17-11 GRANGE RESIDENCES Singapore 249616
Nationality:	Singapore P.R.

Subsidiaries & Branches

Subsidiary:

Name:	FARLIN Energy & Coal Pte Ltd
Address:	435 Orchard Road #21-01 Wisma Atria Singapore 238877

Manage Information

Core Management

Detailed Information of Management:

1
Name:	SEET BENG CHOO JEANNE
Position:	Secretary
ID Number:	S1234059A
Address:	22 Malacca Street #03-02 Rb Capital Building Singapore 048980
Nationality:	Singapore Citizen
Date of Appointment:	2003-8-31
2
Name:	MOHAMMED FAROUK
Position:	Director
ID Number:	S2715761J
Address:	95 Grange Road #17-11 Grange Residences Singapore 249616
Nationality:	Singapore P.R.
Date of Appointment:	1994-8-3

Operation Information

Offices & Factories

	Office
Address:	435 Orchard Road #21-01 Wisma Atria Singapore 238877

Production Information

l Subject is a trader of timber logs without any production activities.

Purchase

l The productions are purchased from abroad.

Sales Information

l Subject is mainly engaged in trading of timber logs and the related products.

l Subject introduced that it imports the products mainly from West Africa, South America and South East Asia.

l Subject introduced that its products are exported mainly to India and Middle Eastern markets.

l Subject introduced that FARLIN Energy & Coal Pte Ltd is the subsidiary of subject, and it is mainly engaged in handling of coal and energy business from Indonesia.

Settlements

Subject declined to disclose the settlements information, and from other sources, we couldn’t obtain the information, either.

Financial Information

In Singapore, Limited Exempt Private Companies are not obligated to submit their financial statements to the local registry. The subject also declined to disclose such information due to the confidentiality reason.

The latest financial information is not available from the subject or other sources.

Bankers

Open Account Bank

The bankers’ information is not available from the subject or other sources.

Auditors

Name:

J K MEDORA & CO

Public

Charges

Charge 1
Charge Number:	200200829
Date of Registration:	2002-2-19
Name:	THE ROYAL BANK OF SCOTLAND N.V.
Amount Secured:	All Monies
Charge 2
Charge Number:	C200401264
Date of Registration:	2004-3-17
Name:	INDIAN BANK
Amount Secured:	All Monies
Charge 3
Charge Number:	C200401743
Date of Registration:	2004-4-6
Name:	SOCIETE GENERALE
Amount Secured:	All Monies
Charge 4
Charge Number:	C200401744
Date of Registration:	2004-4-6
Name:	SOCIETE GENERALE
Amount Secured:	All Monies
Charge 5
Charge Number:	C200704107
Date of Registration:	207-5-30
Name:	UCO BANK
Amount Secured:	All Monies
Charge 6
Charge Number:	C200704694
Date of Registration:	2007-6-22
Name:	BANK OF BARODA
Amount Secured:	All Monies
Charge 7
Charge Number:	C200704919
Date of Registration:	2007-6-28
Name:	INDIAN OVERSEAS BANK
Amount Secured:	All Monies
Charge 8
Charge Number:	C200901941
Date of Registration:	2009-3-31
Name:	AXIS BANK LIMITED SINGAPORE BRANCH
Amount Secured:	All Monies
Charge 9
Charge Number:	C200902027
Date of Registration:	2009-4-6
Name:	AXIS BANK LIMITED SINGAPORE BRANCH
Amount Secured:	All Monies
Charge 10
Charge Number:	C200904590
Date of Registration:	2009-7-24
Name:	STATE BANK OF INDIA
Amount Secured:	All Monies
Charge 11
Charge Number:	C200905172
Date of Registration:	2009-8-20
Name:	BANK OF INDIA
Amount Secured:	All Monies
Charge 12
Charge Number:	C201004295
Date of Registration:	2010-5-24
Name:	CANARA BANK, HONG KONG BRANCH
Amount Secured:	All Monies
Charge 13
Charge Number:	C201005135
Date of Registration:	2010-6-21
Name:	CANARA BANK, HONG KONG BRANCH
Amount Secured:	All Monies
Charge 14
Charge Number:	C201007668
Date of Registration:	2010-8-31
Name:	PUNJAB NATIONAL BANK, HONG KONG
Amount Secured:	All Monies
Charge 15
Charge Number:	C201010238
Date of Registration:	2010-10-29
Name:	BANK OF BARODA
Amount Secured:	All Monies
Charge 16
Charge Number:	C201113433
Date of Registration:	2011-10-25
Name:	UNION BANK OF INDIA, HONG KONG BRANCH
Amount Secured:	All Monies
Charge 17
Charge Number:	C201113437
Date of Registration:	2011-10-25
Name:	UNION BANK OF INDIA, HONG KONG BRANCH
Amount Secured:	All Monies
Charge 18
Charge Number:	C201204172
Date of Registration:	2012-4-17
Name:	STATE BANK OF INDIA
Amount Secured:	All Monies

Interview Details

Name:

Mr. Pope

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.52.93
UK Pound	1	Rs.85.85
Euro	1	Rs.69.94

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.