MIRA INFORM REPORT

Report Date :

03.05.2012

IDENTIFICATION DETAILS

Name :	HORIZON SOLUTIONS FZE

Registered Office :	RAKIA, Al Jazeera Al Hamra, PO Box 31291, Ras Al Khaimah 54806, Dubai, Ras Al Khaimah

Country :	United Arab Emirates

Date of Incorporation :	08.05.2011

Legal Form :	Free Zone Establishment

Line of Business :	Providers of computer solutions, IT and system management services

No. of Employees :	01

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
----	NB	New Business	----

Status :	New Business

Payment Behaviour :	No Complaints

Litigation :	---

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

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

SUMMARY

Company Name : HORIZON SOLUTIONS FZE

Country of Origin : Ras Al Khaimah, United Arab Emirates

Legal Form : Free Zone Establishment - FZE

Registration Date : 8^th May 2011

Trade Licence Number : RAKIA 51FZ2305114102

Issued Capital : UAE Dh 300,000

Paid up Capital : UAE Dh 300,000

Total Workforce : 1

Activities : Providers of computer solutions, IT and system management services.

Financial Condition : Undetermined

Payments : Nothing detrimental uncovered

COMPANY NAME

HORIZON SOLUTIONS FZE

company ADDRESS

Registered & Physical Address

Location : RAKIA, Al Jazeera Al Hamra

PO Box : 31291, Ras Al Khaimah

54806, Dubai

Town : Ras Al Khaimah

Country : United Arab Emirates

Mobile : (971-50) 5451528

Email : enquiry@horizonsol.com / manojkarani@gmail.com

Premises

Subject operates from a small suite of offices that are rented and located in the Central Business Area of Ras Al Khaimah.

KEY PRINCIPALS

Name Position

· Manoj Karani Managing Director

LEGAL FORM & OWNERS

Date of Establishment : 8^th May 2011

Legal Form : Free Zone Establishment - FZE

Trade Licence No. : RAKIA 51FZ2305114102 (Expires 07/05/2012)

Issued Capital : UAE Dh 300,000

Paid up Capital : UAE Dh 300,000

Name of Shareholder (s) Percentage

· Manoj Karani 100%

OPERATIONS

Activities: Engaged in the provision of computer solutions, IT and system management services.

Subject has a workforce of 1 employee.

FINANCIAL DATA

Subject is a newly formed business and as a result financial information is not currently available.

BANKERS

· National Bank of Ras Al Khaimah

NBRAK Building

PO Box: 5300

Ras Al Khaimah

Tel: (971-7) 2221127

Fax: (971-7) 2224202

PAYMENT HISTORY

No complaints regarding subject’s payments have been reported.

GENERAL COMMENTS

In view of subject’s infancy, extensive payment and financial records are not available, therefore dealings are recommended to be on secured terms, and a close monitoring of subject’s business development is advisable.

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.