MIRA INFORM REPORT

Report Date :

11.05.2012

IDENTIFICATION DETAILS

Name :	V.V. KAY MARINE INTERNATIONAL PTE. LTD.

Registered Office :	659 Woodlands Ring Road #10-164 Singapore 730659

Country :	Singapore

Date of Incorporation :	13.02.2008

Com. Reg. No.:	200802942D

Legal Form :	Private Limited Exempt Company

Line of Business :	Providing the services for the Marine Electronic, Navigation & Communication equipment

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

Status :	Moderate
Payment Behaviour :	Unknown
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:	V.V. Kay Marine International Pte. Ltd.
Supplied Name:	V V Kay Marine International Pte Ltd.
Trading Address:	#31-10, International Plaza,10 Anson Road Singapore 079993
Supplied Address:	10, Anson Road, 31-10, International Plaza Singapore 079903
Telephone Number:	+65-9387 0304 / +65 9632 7144 / +65 9630 5943
Fax Number:	+65-6402 5316
E-mail:	info@vvkaymarine.com.sg

Note:

The exact name and address are as above.

Credit Summary

Credit Opinion:

Business connections are permissible.

Company Identification Details

Registered Name:	V.V. Kay Marine International Pte. Ltd.
Registered Address:	659 Woodlands Ring Road #10-164 Singapore 730659
Date of Registration::	2008-2-13
Registered Number:	200802942D
Country of Incorporation:	Singapore
Registered Capital:	SGD 72,802.00 (USD 58,195.5) (As of 2012.5, 1 SGD = 0.79937 USD)
Paid-up Capital:	SGD 72,802.00 (USD 58,195.5)= 72,802 Shares@1 SGD
Legal Form:	Private Limited Exempt Company
Principal Activities:	Providing the services for the Marine Electronic, Navigation & Communication equipment
Staff:	N/A
Status:	Live Company
Listed at Stock Exchange:	No.
Date of Last Annual Return:	2011-7-8

Note:

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

History

Subject was incorporated on 2008-2-13 with registered number 200802942D as Private Limited Exempt Company in Singapore.

Shareholders

Unit: SGD

Name	Subscription Amount	Proportion of Investment (%)
VAKADA VASUDEVA KUMAR	36,401	50%
REDDIYAR UMESH SUBHAN	36,401	50%
Total	72,802	100%

Major Shareholder Information:

1
Name:	VAKADA VASUDEVA KUMAR
ID Number:	F8494529
Address:	Lig-109, Sector-3, Mvp Colony Visakhapatnam- 530 017 Ap
Nationality:	Indian
2
Name:	REDDIYAR UMESH SUBHAN
ID Number:	S7362725G
Address:	659 Woodlands Ring Road #10-164 Singapore 730659
Nationality:	Singapore P.R.

Subsidiaries & Branches

Parent Company:

Name:	V V Kay Marine Pvt. Ltd.
Address:	#25-12-44/1, MEHDI Building, Godeyvari Street, Old Post Office Area, Visakhapatnam-530001 India
Telephone Number:	+91 891 273 6332 / +91 891 252 1244
Fax Number:	+91 891 279 7917
E-mail:	info@vvkaymarine.co.in

Manage Information

Core Management

Detailed Information of Management:

1
Name:	VAKADA VASUDEVA KUMAR
Position:	Director
ID Number:	F8494529
Address:	Lig-109, Sector-3, Mvp Colony Visakhapatnam-530 017 Ap
Nationality:	Indian
Date of Appointment:	2008-2-13
2
Name:	TAN HWEE BIN
Position:	Secretary
ID Number:	S6814026I
Address:	120 Jurong East Street 13 #01-83 Ivory Heights Singapore 600120
Nationality:	Singapore Citizen
Date of Appointment:	2008-2-13
3
Name:	REDDIYAR UMESH SUBHAN
Position:	Director
ID Number:	S7362725G
Address:	659 Woodlands Ring Road #10-164 Singapore 730659
Nationality:	Singapore P.R.
Date of Appointment:	2008-2-13

Operation Information

Offices & Factories

	Office
Address:	#31-10, International Plaza,10 Anson Road Singapore 079993

Production Information

l Subject is a provider of the services for the Marine Electronic, Navigation & Communication equipment without any production activities

Sales Information

l Subject is mainly engaged in providing the services for the Marine Electronic, Navigation & Communication equipment.

l Subject is a subsidiary of V V Kay Marine Pvt. Ltd. located in India.

l V V Kay Marine Pvt. Ltd. is an Indian Company establishment in 2005, and mainly engaged in providing the services for the Marine Electronic, Navigation & Communication equipment.

l Subject introduced that it is also involved in the ship repairs and sales/servicing of life saving equipment and shipping agency.

l Subject introduced that it also help the head company to accept the orders from global clients.

l Subject’s selling territory covers all over the world.

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.

Bankers

Open Account Bank

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

Auditors

Name:

C.S.CHAN & CO

Interview Details

Name:

Mr. Kevin

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.53.34
UK Pound	1	Rs.86.11
Euro	1	Rs.69.07

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.