MIRA INFORM REPORT

Report Date :

16.05.2012

IDENTIFICATION DETAILS

Name :	ALPHA INTERNATIONAL REAL ESTATE CO WLL

Registered Office :	Building No. 15, 3^rd Floor, Office No. 8, Al Sharq, P O Box 38878, Dahait Abdullah Al Salem 72260

Country :	Kuwait

Date of Incorporation :	03.07.2007

Com. Reg. No.:	321754

Legal Form :	With Limited Liability

Line of Business :	Providers of real estate development services

No. of Employees :	02

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate

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)

Kuwait

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

SUMMARY

Company Name : ALPHA INTERNATIONAL REAL ESTATE CO WLL

Country of Origin : Kuwait

Legal Form : With Limited Liability - WLL

Registration Date : 3^rd July 2007

Commercial Registration Number : 321754

Trade Licence Number : 3667/2007

Chamber Membership Number : 109893

Issued Capital : KD 120,000

Paid up Capital : KD 120,000

Total Workforce : 2

Activities : Providers of real estate development services

Financial Condition : Undetermined

Payments : Nothing detrimental uncovered

COMPANY NAME

ALPHA INTERNATIONAL REAL ESTATE CO WLL

company ADDRESS

Registered & Physical Address

Building : Building No. 15, 3^rd Floor, Office No. 8

Area : Al Sharq

PO Box : 38878

Town : Dahait Abdullah Al Salem 72260

Country : Kuwait

Telephone : (965) 22420464

Facsimile : (965) 22420671

Premises

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

KEY PRINCIPALS

Name Position

· Lubabah Hussain Abdul Karim Mohamed Marafi Managing Director

· Shaheen Ahmed Al Shaheen Al Rubaie Director

LEGAL FORM & OWNERS

Date of Establishment : 3^rd July 2007

Legal Form : With Limited Liability - WLL

Commercial Reg. No. : 321754

Trade Licence No. : 3667/2007 (Expired 25/08/2011)

Chamber Member No. : 109893

Issued Capital : KD 120,000

Paid up Capital : KD 120,000

Name of Shareholder (s)

· Lubabah Hussain Abdul Karim Mohamed Marafi

· Shaheen Ahmed Al Shaheen Al Rubaie

OPERATIONS

Activities: Engaged in the provision of real estate development services.

Subject has a workforce of 2 employees.

FINANCIAL DATA

Companies registered in Kuwait are not legally required to make their accounts public and no financial information was released by the company or submitted by outside sources.

BANKERS

· Gulf Bank KSC

Mubarak Al Kabir Street

PO Box: 3200

Safat 13033

Tel: (965) 22449501

Fax: (965) 22445212

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.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.53.84
UK Pound	1	Rs.86.72
Euro	1	Rs.69.17

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.