MIRA INFORM REPORT

Report Date :

12.05.2012

IDENTIFICATION DETAILS

Name :	FIERET'S VISHANDEL OOSTBURG B.V.

Registered Office :	Industrieweg 13, 4501PM Oostburg

Country :	Netherlands

Financials (as on) :	31.12.2010

Date of Incorporation :	31.03.1980

Com. Reg. No.:	21005011

Legal Form :	Limited Company

Line of Business :	Wholesaler of fish

No. of Employees :	52

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)

Netherlands

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

CONTACTINFORMATION


Company name	Fieret's Vishandel Oostburg B.V.
Tradename	Fieret's Vishandel Oostburg B.V.
Address	Industrieweg 13
	4501PM Oostburg
	Netherlands
Mail address	Industrieweg 13
	4501PM Oostburg
	Netherlands
Telephone number	0117453551
Telefax number	0117454128
E-mail address	info@fieretvis.nl
Website	www.fieretvis.nl
VAT number / RSIN	005218196
Branch(es)	Fieret's Vishandel Oostburg B.V. (21005011.0001)
	Kaai 18 -20
	4524CK SLUIS

COMPANY STRUCTURE


Shareholder	Fieret In- en Sales B.V.
	Industrieweg 13
	4501PM OOSTBURG
	Netherlands
	KvK: 21019391
	Active since: 27-12-2000
	Percentage: 100.00%
Holding company	Fieret In- en Sales B.V.
	Industrieweg 13
	4501PM OOSTBURG
	KvK: 21019391

Bank	ABN Amro Bank NV
	Account number: 45.43.49.300
	ING Bank NV

MANAGEMENT


Management	G. Fieret
	Gijsbert
	Authorization: Fully authorized
	Position: Manager
	Date appointed: 31-03-1980
	Date of birth: 22-08-1942

	C. Fieret
	Cornelis
	Authorization: Fully authorized
	Position: Manager
	Date appointed: 18-03-2002
	Date of birth : 29-10-1965

PAYMENT INFORMATION

Payment experiences According to terms

Payments Based on multiple payment experiences up to € 7.500

· Quarter: 3 2011: 30 Average days

· Quarter: 4 2011: 30 Average days

· Quarter: 1 2012: 30 Average days

· Quarter: 2 2012: 30 Average days

FINANCIAL INFORMATION

Publication financial statement

· Annual accounts 2010 are published on 09-05-2012

· Annual accounts 2009 are published on 29-12-2010

· Annual accounts 2008 are published on 31-03-2010

· Annual accounts 2007 are published on 11-02-2009

Type of publication

Publication

Corporate

Publication according to obligations by law

CORE FIGURES
BOOKYEAR	2010	2009	2008
Quick ratio	6,34	2,63	2,42
Current ratio	7,10	3,00	2,88
Nett workingcapital / Balance total	0,78	0,64	0,60
Capital and reserves / Balance total	0,85	0,66	0,66
Capital and reserves / Fixed assets	9,23	15,74	7,94
Solvency	6,68	2,08	2,06
Nett workingcapital	2.712.391	2.233.660	1.521.000
Capital and reserves	2.973.075	2.317.364	1.667.000
Change capital and reserves	28,30%	39,01%	61,53%
change short term liabilities	-60,14%	37,63%	55,66%

BALANCE sheet

BOOKYEAR	2010	2009	2008
End of bookyear	31-12-2010	31-12-2009	31-12-2008
Tangible assets	279.050	115.746	181.000
Financial assets	43.154	31.526	29.000
Fixed assets	322.204	147.272	210.000

Stocks and work in progress	334.979	415.325	371.000
Accounts receivable	1.870.044	259.167	141.000
Liquid assets	952.219	2.675.318	1.820.000
Current assets	3.157.242	3.349.810	2.332.000
Total assets	3.479.446	3.497.082	2.542.000

Capital and reserves	2.973.075	2.317.364	1.667.000
Provisions	61.520	63.568	65.000
Other short term debts		1.116.150	811.000
Total short term debt	444.851	1.116.150	811.000
Total debt	506.371	1.179.718	875.000
Total Liabilities	3.479.446	3.497.082	2.542.000

Company structure

· Fieret In- en Sales B.V. (21019391)

OOSTBURG

· Fieret's Vishandel Oostburg B.V. (21005011)

Oostburg Subsidiary (100%)

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.53.64
UK Pound	1	Rs.86.42
Euro	1	Rs.69.29

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.

Capital	EUR 340.335,16
Issued capital	EUR 208.738,90
Paid up capital	EUR 208.738,90

Employees	Total: 52
Employees according to CoC	Chamber of commerce: 52
Bookyear	2012	2011	2010
Number	52	35	35
Change	48,57%	0,00%	-41,67%