MIRA INFORM REPORT

Report Date :

30.05.2012

IDENTIFICATION DETAILS

Name :	AL SANABEL TECHNOLOGIES LLC

Registered Office :	Hamad Bin Ali Street, P O Box 9206, Fujairah

Country :	United Arab Emirates

Date of Incorporation :	04.07.2011

Com. Reg. No.:	13246, Fujairah

Legal Form :	Limited Liability Company

Line of Business :	Distribution of electrical products

No. of Employees :	06

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	New and Small Company

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)

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 : AL SANABEL TECHNOLOGIES LLC

Country of Origin : Fujairah, United Arab Emirates

Legal Form : Limited Liability Company - LLC

Registration Date : 4^th July 2011

Commercial Registration Number : 13246, Fujairah

Trade Licence Number : 19903

Chamber Membership Number : 15920

Issued Capital : UAE Dh 300,000

Paid up Capital : UAE Dh 300,000

Total Workforce : 6

Activities : Distribution of electrical products.

Financial Condition : Undetermined

Payments : Nothing detrimental uncovered

Person Interviewed : Mohamed Saeed, Financial Controller

COMPANY NAME

AL SANABEL TECHNOLOGIES LLC

company ADDRESS

Registered & Physical Address

Location : Hamad Bin Ali Street

PO Box : 9206

Town : Fujairah

Country : United Arab Emirates

Telephone : (971-9) 2233940

Facsimile : (971-9) 2233950

Mobile : (971-50) 6249217

Premises

Subject operates from a small suite of offices and a warehouse that are rented and located in the Central Business Area of Fujairah.

KEY PRINCIPALS

Name Nationality Position

· Mohamed Anwar Mirza Pakistani Managing Director

· Waqas Mohamed Anwar Mirza Pakistani Operations Manager

· Mohamed Saeed - Financial Controller

· Ali Arslan - Technical & Electrical Engineer

LEGAL FORM & OWNERS

Date of Establishment : 4^th July 2011

Legal Form : Limited Liability Company - LLC

Commercial Reg. No. : 13246, Fujairah

Trade Licence No. : 19903 (Expires 03/07/2012)

Chamber Member No. : 15920

Issued Capital : UAE Dh 300,000

Paid up Capital : UAE Dh 300,000

Name of Shareholder (s) Percentage

· Masharee Al Khalidi Co 51%

UAE

· Mohamed Anwar Mirza 49%

OPERATIONS

Activities: Engaged in the import and distribution of electrical products, specialising in electrical safety products,

isolated powers, panel boards and switchgear.

Import Countries: Germany and the United Kingdom

International Suppliers:

· Bender GmbH Germany

Subject has a workforce of 6 employees.

FINANCIAL DATA

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

BANKERS

· National Bank of Fujairah

PO Box: 887

Fujairah

Tel: (971-9) 2224518 / 2224513

Fax: (971-9) 2224516 / 2229470

PAYMENT HISTORY

No complaints regarding subject’s payments have been reported.

GENERAL COMMENTS

In view of subject’s infancy, extensive payment and financial 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.55.58
UK Pound	1	Rs.87.14
Euro	1	Rs.69.73

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.