MIRA INFORM REPORT

Report Date :

30.05.2012

IDENTIFICATION DETAILS

Name :	MUSCAT THREAD MILLS SAOG
Registered Office :	Road No 18, Rusayl Industrial, P.O.Box 122, Rusayl, 124
Country :	Oman
Financials (as on) :	31.03.2012
Date of Incorporation :	01.08.1997
Legal Form :	Public Independent Company
Line of Business :	manufacture and marketing of polyester, cotton and embroidery sewing thread for local use and export
No. of Employees :	66

RATING & COMMENTS

MIRA’s Rating :

Aa

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Good
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)
Oman	A2	A2

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

Company name & address

Muscat Thread Mills SAOG

Road No 18, Rusayl Industrial

P.O.Box 122

Rusayl, 124

Oman

Tel: 968-24-446806

Fax: 968-24-446807

Web: www.mtm.com.om

Synthesis

Employees: 66

Company Type: Public Independent

Traded: Muscat Securities Market: MTMI

Incorporation Date: 01-Aug-1997

Auditor: KPMG LLP

Financials in: USD (Millions)

Fiscal Year End: 31-Dec-2011

Reporting Currency: Rial Omani

Annual Sales: 10.1 1

Net Income: 0.7

Total Assets: 5.9 2

Market Value: 4.7

(01-May-2012)

Business Description

Muscat Thread Mills SAOG (MTM) is an Oman-based joint stock joint stock company engaged in the manufacture and marketing of polyester, cotton and embroidery sewing thread for local use and export. The Company markets its products under two brands, namely Boat and Silver Falcon and exports to India, Pakistan, turkey, United Arab Emirates, Bahrain, Jordan, Kenya, Qatar, Kuwait, , Sri Lnaka, Indonesia, Madagascar, Bangladesh and Saudi Arabia. Muscat Thread Mills SAOG is an Oman-based joint stock company engaged in the manufacturing of polyester, cotton and embroidery sewing thread for local use and export. The Company markets its products in two brands, namely Boat and Silver Falcon and export to India, Pakistan, turkey, United Arab Emirates, Bahrain, Jordan, Kenya, Bangladesh and Saudi Arabia. The company is listed in Muscat Stock Exchange.

Industry

Industry Apparel and Accessories

ANZSIC 2006: 1312 - Natural Textile Manufacturing

NACE 2002: 171 - Preparation and spinning of textile fibres

NAICS 2002: 313113 - Thread Mills

UK SIC 2003: 171 - Preparation and spinning of textile fibres

US SIC 1987: 2284 - Thread Mills

Key Executives

Name	Title
Dinesh Kumar	Finance Manager and Company Secretary
Shahzad Khan	Marketing Manager
Mohammed Naveed Sumar	Chief Executive Officer
Mukhtar M. Hasan	Non-Executive Independent Chairman of the Board
Abdul Wahab Naseer Al Mandhari	Non-Executive Independent Vice Chairman of the Board

Significant Developments

Topic	#*	Most Recent Headline	Date
Other Accounting	1	Muscat Thread Mills SAOG Appoints New External Auditors For FY 2012	25-Mar-2012
Dividends	1	Muscat ThreadMills SAOG Recommends 15% Cash Dividends And 15% Bonus Share For FY 2011	28-Feb-2012

* number of significant developments within the last 12 months

Financial Summary

As of 31-Mar-2012

Key Ratios Company Industry

Current Ratio (MRQ) 1.52 2.75

Quick Ratio (MRQ) 0.98 1.45

Debt to Equity (MRQ) 0.34 0.52

Sales 5 Year Growth 14.24 10.05

Net Profit Margin (TTM) % 8.00 7.39

Return on Assets (TTM) % 13.12 7.59

Return on Equity (TTM) % 25.01 15.09

Stock Snapshot

Traded: Muscat Securities Market: MTMI

As of 1-May-2012

   Financials in: OMR

Recent Price	0.18	EPS	0.03
52 Week High	0.21	Price/Sales	0.46
52 Week Low	0.09	Dividend Rate	0.02
Avg. Volume (mil)	0.0037	Price/Earnings	5.57
Market Value (mil)	1.81	Price/Book	1.31

	Price % Change	Rel S&P 500%
4 Week	0.56%	6.74%
13 Week	10.05%	9.98%
52 Week	72.01%	83.46%
Year to Date	104.69%	106.07%

Key IDSM Number: 44670491

1 - Profit & Loss Item Exchange Rate: USD 1 = OMR 0.385032

2 - Balance Sheet Item Exchange Rate: USD 1 = OMR 0.385

Corporate Overview

Location

Road No 18, Rusayl Industrial

P.O.Box 122

Rusayl, 124

Oman

Tel: 968-24-446806

Fax: 968-24-446807

Web: www.mtm.com.om

Quote Symbol - Exchange

MTMI - Muscat Securities Market

Sales OMR(mil): 3.9

Assets OMR(mil): 2.3

Employees: 66

Fiscal Year End: 31-Dec-2011

Industry: Apparel and Accessories

Incorporation Date: 01-Aug-1997

Company Type: Public Independent

Quoted Status: Quoted

Finance Manager

and Company Secretary: Dinesh Kumar

Company Web Links

Company Contact/E-mail

Corporate History/Profile

Executives

Financial Information

Home Page

Products/Services

Contents

Industry Codes

Business Description

Financial Data

Market Data

Shareholders

Key Corporate Relationships

Industry Codes

ANZSIC 2006 Codes:

1312 - Natural Textile Manufacturing

NACE 2002 Codes:

171 - Preparation and spinning of textile fibres

NAICS 2002 Codes:

313113 - Thread Mills

US SIC 1987:

2284 - Thread Mills

UK SIC 2003:

171 - Preparation and spinning of textile fibres

Business Description

Muscat Thread Mills SAOG (MTM) is an Oman-based joint stock joint stock company engaged in the manufacture and marketing of polyester, cotton and embroidery sewing thread for local use and export. The Company markets its products under two brands, namely Boat and Silver Falcon and exports to India, Pakistan, turkey, United Arab Emirates, Bahrain, Jordan, Kenya, Qatar, Kuwait, , Sri Lnaka, Indonesia, Madagascar, Bangladesh and Saudi Arabia. Muscat Thread Mills SAOG is an Oman-based joint stock company engaged in the manufacturing of polyester, cotton and embroidery sewing thread for local use and export. The Company markets its products in two brands, namely Boat and Silver Falcon and export to India, Pakistan, turkey, United Arab Emirates, Bahrain, Jordan, Kenya, Bangladesh and Saudi Arabia. The company is listed in Muscat Stock Exchange.

More Business Descriptions

Production of sewing thread

Financial Data

Financials in:	OMR(mil)
Revenue:	3.9
Net Income:	0.3
Assets:	2.3
Long Term Debt:	0.0
Total Liabilities:	0.9
Working Capital:	0.0
Date of Financial Data:	31-Dec-2011

1 Year Growth

11.0%

37.2%

-7.6%

Market Data

Quote Symbol:	MTMI
Exchange:	Muscat Securities Market
Currency:	OMR
Stock Price:	0.2
Stock Price Date:	05-01-2012
52 Week Price Change %:	72.0
Market Value (mil):	1,812.6
SEDOL:	6592653
ISIN:	OM0000002036
Equity and Dept Distribution:
03/2008, 10-for-1 stock split. 04/2009, Scrip Issue, 15 new shares for every 100 shares held. 12/2009, Scrip Issue, 15 new shares for every 100 shares held. 3/2011, Scrip Issue 10 new shares for every 100 shares held (Factor: 1.1 ). 3/2012, Scrip Issue, 15 new shares for every 100 shares held (Factor: 1.15).

Shareholders

Major Shareholders

Qais Omani Establishment LLC (18.96%); Muscat Overseas LLC (17.55%); Al Barij International LLC (10.75%)

Key Corporate Relationships

Auditor:	KPMG LLP
Auditor:	KPMG, KPMG LLP

Executive report

Board of Directors

Name	Title	Function
Mukhtar M. Hasan	Non-Executive Independent Chairman of the Board	Chairman
Education: Institute of Chartered Accountants in England & Wales, CF (Corporate Finance) Institute of Chartered Accountants in England & Wales, FCA (Accountancy) University of Karachi, Bachelor of Commerce (Commerce)
Abdul Wahab Naseer Al Mandhari	Non-Executive Independent Vice Chairman of the Board	Vice-Chairman
Gopalan Arunachalam	Non-Executive Director	Director/Board Member
Balachandran T. Chatoth	Non-Executive Independent Member of the Board	Director/Board Member
Taizoon F. Khorakiwala	Non-Executive Independent Member of the Board	Director/Board Member
Srinivasan Ramakrishnan	Non-Executive Independent Member of the Board	Director/Board Member

Executives

Name	Title	Function
Mohammed Naveed Sumar	Chief Executive Officer	Chief Executive Officer
Nihal S. Kadagoda	General Manager	Division Head Executive
Biography Mr. Nihal S. Kadagoda serves as General Manager of Muscat Thread Mills SAOG since June 10, 2010. He is a corporate member of the Institute of Management Services in the United Kingdom, which is the professional body for industrial engineers. He brings 31 years of experience in the textiles industry. He is responsible for the overall strategic management of the Company.
Dinesh Kumar	Finance Manager and Company Secretary	Company Secretary
Biography Mr. Dinesh Kumar serves as Finance Manager and Company Secretary of Muscat thread Mills SAOG. He has 11 years of experience in accounts and auditing. He is responsible for Finance and Administration.
Shahzad Khan	Marketing Manager	Marketing Executive
Biography Mr. Shahzad Khan serves as Marketing Manager of Muscat Thread Mills SAOG. He holds a Masters degree in Business Administration (Marketing) and a degree in Textiles Engineering. He has 15 years of experience in the textiles industry. He is responsible for Sales, Marketing and Customer Service.

Significant Developments

Muscat Thread Mills SAOG Appoints New External Auditors For FY 2012 Mar 25, 2012

Muscat Thread Mills SAOG announced that the Company has approved to appoint Moore Stephens as its external auditors for the fiscal year December 31, 2012.

Muscat Thread Mills SAOG Recommends 15% Cash Dividends And 15% Bonus Share For FY 2011 Feb 28, 2012

Muscat Thread Mills SAOG announced that its Board of Directors has recommended the distribution of 15% cash dividends of issued capital, representing OMR 0.015 per share, and 15% bonus share by increasing the capital from OMR 885,500 to OMR 1,018,325.

Annual Income Statement

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Dec-2011	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Dec-2011	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Reclassified Normal 31-Dec-2009	Updated Normal 31-Dec-2007
Filed Currency	OMR	OMR	OMR	OMR	OMR
Exchange Rate (Period Average)	0.385032	0.385008	0.384999	0.384956	0.384897
Auditor	KPMG LLP	KPMG Peat Marwick LLP	KPMG LLP	KPMG LLP	Yashpal Mehta
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified
Net Sales	10.1	9.1	6.9	7.4	6.1
Revenue	10.1	9.1	6.9	7.4	6.1
Total Revenue	10.1	9.1	6.9	7.4	6.1
Cost of Revenue	8.1	7.3	5.5	5.4	4.0
Cost of Revenue, Total	8.1	7.3	5.5	5.4	4.0
Gross Profit	2.1	1.8	1.4	2.0	2.2
Selling/General/Administrative Expense	0.5	0.4	0.9	1.2	0.9
Labor & Related Expense	0.5	0.6	-	-	0.5
Advertising Expense	0.0	0.0	-	-	-
Total Selling/General/Administrative Expenses	1.1	1.0	0.9	1.2	1.4
Depreciation	0.0	0.1	0.1	0.1	0.0
Depreciation/Amortization	0.0	0.1	0.1	0.1	0.0
Other Operating Expense	0.0	0.0	-	-	-
Other Operating Expenses, Total	0.0	0.0	-	-	-
Total Operating Expense	9.2	8.4	6.5	6.7	5.4
Operating Income	0.9	0.7	0.4	0.8	0.7
Interest Expense - Non-Operating	-0.1	-0.2	-0.2	-0.2	-0.2
Interest Expense, Net Non-Operating	-0.1	-0.2	-0.2	-0.2	-0.2
Interest Income (Expense) - Net Non-Operating Total	-0.1	-0.2	-0.2	-0.2	-0.2
Other Non-Operating Income (Expense)	0.0	0.0	0.0	0.0	0.1
Other, Net	0.0	0.0	0.0	0.0	0.1
Income Before Tax	0.8	0.6	0.2	0.6	0.6
Total Income Tax	0.1	0.1	0.0	0.1	0.2
Income After Tax	0.7	0.5	0.2	0.5	0.5
Net Income Before Extraord Items	0.7	0.5	0.2	0.5	0.5
Net Income	0.7	0.5	0.2	0.5	0.5
Income Available to Common Excl Extraord Items	0.7	0.5	0.2	0.5	0.5
Income Available to Common Incl Extraord Items	0.7	0.5	0.2	0.5	0.5
Basic/Primary Weighted Average Shares	10.2	10.2	10.2	11.7	11.7
Basic EPS Excl Extraord Items	0.07	0.05	0.01	0.04	0.04
Basic/Primary EPS Incl Extraord Items	0.07	0.05	0.01	0.04	0.04
Diluted Net Income	0.7	0.5	0.2	0.5	0.5
Diluted Weighted Average Shares	10.2	10.2	10.2	11.7	11.7
Diluted EPS Excl Extraord Items	0.07	0.05	0.01	0.04	0.04
Diluted EPS Incl Extraord Items	0.07	0.05	0.01	0.04	0.04
Dividends per Share - Common Stock Primary Issue	0.04	-	0.00	-	0.01
Gross Dividends - Common Stock	0.4	-	0.0	-	-
Interest Expense, Supplemental	0.1	0.2	0.2	0.2	0.2
Depreciation, Supplemental	0.3	0.3	0.3	0.3	0.0
Normalized Income Before Tax	0.8	0.6	0.2	0.6	0.6
Inc Tax Ex Impact of Sp Items	0.1	0.1	0.0	0.1	0.2
Normalized Income After Tax	0.7	0.5	0.2	0.5	0.5
Normalized Inc. Avail to Com.	0.7	0.5	0.2	0.5	0.5
Basic Normalized EPS	0.07	0.05	0.01	0.04	0.04
Diluted Normalized EPS	0.07	0.05	0.01	0.04	0.04
Rental Expenses	0.1	0.1	0.1	0.1	-
Advertising Expense, Supplemental	0.0	0.0	0.0	0.0	-
Normalized EBIT	0.9	0.7	0.4	0.8	0.7
Normalized EBITDA	1.2	1.0	0.7	1.0	0.8
Current Tax - Domestic	0.1	0.0	0.0	0.1	0.0
Current Tax - Total	0.1	0.0	0.0	0.1	0.0
Deferred Tax - Domestic	0.0	0.0	0.0	0.0	0.1
Deferred Tax - Total	0.0	0.0	0.0	0.0	0.1
Income Tax - Total	0.1	0.1	0.0	0.1	0.2

Annual Balance Sheet

Financials in: USD (mil)

	31-Dec-2011	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007
UpdateType/Date	Updated Normal 31-Dec-2011	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Updated Normal 31-Dec-2008	Reclassified Normal 31-Dec-2008
Filed Currency	OMR	OMR	OMR	OMR	OMR
Exchange Rate	0.385	0.385	0.38495	0.38505	0.385
Auditor	KPMG LLP	KPMG Peat Marwick LLP	KPMG LLP	KPMG LLP	Yashpal Mehta
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified
Cash & Equivalents	0.2	0.0	0.1	0.0	0.0
Cash and Short Term Investments	0.2	0.0	0.1	0.0	0.0
Accounts Receivable - Trade, Gross	3.0	2.6	2.2	2.3	2.0
Provision for Doubtful Accounts	-0.9	-0.9	-0.8	-0.8	-0.6
Trade Accounts Receivable - Net	2.2	1.8	1.4	1.6	1.4
Total Receivables, Net	2.2	1.8	1.4	1.6	1.4
Inventories - Finished Goods	0.1	0.1	0.5	0.5	0.5
Inventories - Work In Progress	0.1	0.1	0.1	0.1	0.0
Inventories - Raw Materials	1.1	1.2	1.2	1.2	1.2
Inventories - Other	-0.1	0.0	-0.2	-0.1	-0.1
Total Inventory	1.1	1.5	1.6	1.7	1.7
Prepaid Expenses	0.2	0.6	0.1	0.2	0.2
Total Current Assets	3.6	3.8	3.2	3.5	3.2
Buildings	0.7	0.7	0.7	0.7	0.7
Machinery/Equipment	0.3	0.3	0.3	0.3	0.3
Other Property/Plant/Equipment	4.9	4.8	4.7	4.5	3.9
Property/Plant/Equipment - Gross	5.9	5.9	5.7	5.5	4.9
Accumulated Depreciation	-3.6	-3.3	-3.0	-2.8	-2.5
Property/Plant/Equipment - Net	2.3	2.6	2.7	2.8	2.4
Total Assets	5.9	6.4	5.9	6.2	5.6
Accounts Payable	0.9	0.9	0.7	0.6	0.6
Notes Payable/Short Term Debt	0.8	1.1	0.9	1.0	0.6
Current Portion - Long Term Debt/Capital Leases	0.4	0.7	0.7	0.7	0.7
Other Payables	-	-	0.0	0.0	0.0
Other Current liabilities, Total	-	-	0.0	0.0	0.0
Total Current Liabilities	2.1	2.7	2.3	2.3	1.9
Long Term Debt	0.0	0.4	0.7	1.2	1.3
Total Long Term Debt	0.0	0.4	0.7	1.2	1.3
Total Debt	1.2	2.2	2.3	2.9	2.5
Deferred Income Tax - LT Liability	0.0	0.0	0.0	0.1	0.1
Deferred Income Tax	0.0	0.0	0.0	0.1	0.1
Pension Benefits - Underfunded	0.2	0.1	0.1	0.1	0.1
Other Long Term Liabilities	0.0	0.1	0.1	0.1	0.2
Other Liabilities, Total	0.2	0.2	0.2	0.2	0.3
Total Liabilities	2.3	3.3	3.3	3.8	3.6
Common Stock	2.3	2.1	2.1	1.8	1.8
Common Stock	2.3	2.1	2.1	1.8	1.8
Retained Earnings (Accumulated Deficit)	1.3	1.0	0.5	0.6	0.2
Total Equity	3.6	3.1	2.6	2.4	2.0
Total Liabilities & Shareholders’ Equity	5.9	6.4	5.9	6.2	5.6
Shares Outstanding - Common Stock Primary Issue	10.2	10.2	10.2	11.7	11.7
Total Common Shares Outstanding	10.2	10.2	10.2	11.7	11.7
Employees	66	60	64	66	65
Number of Common Shareholders	315	321	328	324	315
Total Long Term Debt, Supplemental	0.4	1.1	1.5	2.0	2.2
Long Term Debt Maturing within 1 Year	0.4	0.7	0.7	0.7	0.7
Long Term Debt Matur. in Year 6 & Beyond	0.1	0.4	0.9	1.3	1.5
Total Operating Leases, Supplemental	0.1	0.1	0.1	0.1	0.2
Operating Lease Payments Due in Year 1	0.0	0.0	0.0	0.0	0.0
Operating Lease Payments Due in Year 2	0.0	0.0	0.0	0.0	0.0
Operating Lease Payments Due in Year 3	0.0	0.0	0.0	0.0	0.0
Operating Lease Payments Due in Year 4	0.0	0.0	0.0	0.0	0.0
Operating Lease Payments Due in Year 5	0.0	0.0	0.0	0.0	0.0
Operating Lease Pymts. Due in 2-3 Years	0.0	0.0	0.0	0.0	0.0
Operating Lease Pymts. Due in 4-5 Years	0.0	0.0	0.0	0.0	0.0
Oper. Lse. Pymts. Due in Year 6 & Beyond	0.1	0.1	0.1	0.1	0.1

Annual Cash Flows

Financials in: USD (mil)

	31-Dec-2011	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Dec-2011	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Updated Normal 31-Dec-2008	Updated Normal 31-Dec-2007
Filed Currency	OMR	OMR	OMR	OMR	OMR
Exchange Rate (Period Average)	0.385032	0.385008	0.384999	0.384956	0.384897
Auditor	KPMG LLP	KPMG Peat Marwick LLP	KPMG LLP	KPMG LLP	Yashpal Mehta
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified
Net Income/Starting Line	0.8	0.6	0.2	0.6	0.6
Depreciation	0.3	0.3	0.3	0.3	0.2
Depreciation/Depletion	0.3	0.3	0.3	0.3	0.2
Unusual Items	0.0	0.0	0.0	0.0	0.0
Other Non-Cash Items	0.4	0.3	0.4	0.5	0.3
Non-Cash Items	0.4	0.3	0.4	0.5	0.3
Accounts Receivable	0.0	-0.9	0.2	-0.4	-0.3
Inventories	0.2	0.1	0.0	-0.1	-0.4
Other Assets	-	-	-	0.0	-
Payable/Accrued	-0.1	0.1	0.2	-0.1	0.3
Other Liabilities	-	0.0	0.0	0.0	0.0
Other Assets & Liabilities, Net	0.0	0.0	0.0	0.0	0.0
Other Operating Cash Flow	-0.2	-0.2	-0.3	-0.3	-0.2
Changes in Working Capital	-0.1	-0.8	0.0	-0.9	-0.5
Cash from Operating Activities	1.4	0.3	0.8	0.5	0.6
Purchase of Fixed Assets	-0.1	-0.2	-0.2	-0.6	-
Capital Expenditures	-0.1	-0.2	-0.2	-0.6	-
Sale of Fixed Assets	0.0	0.0	0.0	0.0	-0.3
Other Investing Cash Flow Items, Total	0.0	0.0	0.0	0.0	-0.3
Cash from Investing Activities	-0.1	-0.2	-0.2	-0.6	-0.3
Other Financing Cash Flow	0.1	0.0	0.0	0.4	0.0
Financing Cash Flow Items	0.1	0.0	0.0	0.4	0.0
Cash Dividends Paid - Common	-0.2	-	0.0	-0.1	-
Total Cash Dividends Paid	-0.2	-	0.0	-0.1	-
Short Term Debt, Net	-	-	0.0	-0.1	-
Long Term Debt Issued	0.0	0.1	0.0	0.5	0.1
Long Term Debt Reduction	-0.7	-0.5	-0.5	-0.7	-0.6
Long Term Debt, Net	-0.7	-0.4	-0.5	-0.2	-0.4
Issuance (Retirement) of Debt, Net	-0.7	-0.4	-0.5	-0.3	-0.4
Cash from Financing Activities	-0.9	-0.4	-0.5	0.0	-0.4
Net Change in Cash	0.4	-0.2	0.1	-0.2	-0.1
Net Cash - Beginning Balance	-0.3	-0.1	-0.2	0.0	0.0
Net Cash - Ending Balance	0.2	-0.3	-0.1	-0.2	0.0
Cash Interest Paid	0.2	0.2	0.2	0.2	0.2
Cash Taxes Paid	0.0	0.0	0.1	0.0	-

Annual Income Statement

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Dec-2011	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Dec-2011	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Reclassified Normal 31-Dec-2009	Updated Normal 31-Dec-2007
Filed Currency	OMR	OMR	OMR	OMR	OMR
Exchange Rate (Period Average)	0.385032	0.385008	0.384999	0.384956	0.384897
Auditor	KPMG LLP	KPMG Peat Marwick LLP	KPMG LLP	KPMG LLP	KPMG LLP
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified
Revenues	10.1	9.1	6.9	7.4	6.1
Total Revenue	10.1	9.1	6.9	7.4	6.1
Cost of Saless	8.1	7.3	5.5	5.4	4.0
Employee Related Expenses	-	-	-	-	0.5
Depreciation	-	0.0	0.1	0.1	0.0
Provision for Doubtful Debts	0.0	0.1	0.1	0.2	0.1
Provision for Slow Moving Inventories	0.2	0.0	0.1	0.1	0.1
General / Admin Expenses	0.1	0.1	0.6	0.7	0.2
Employee Related Expenses-G&A	0.5	0.6	-	-	-
Advertising-G&A	0.0	0.0	-	-	-
Depreciation-G&A	0.0	0.0	-	-	-
Other Expenses-G&A	0.0	0.0	-	-	-
Selling & Distribution	0.2	0.2	0.2	0.2	0.6
Advertisement and Sales Promotion	0.0	-	-	-	-
Other Expenses	0.0	-	-	-	-
Total Operating Expense	9.2	8.4	6.5	6.7	5.4
Finance Costs	-0.1	-0.2	-0.2	-0.2	-0.2
Other Finance Costs	0.0	0.0	0.0	-	-
Other Income	0.0	0.1	0.0	0.0	0.1
Net Income Before Taxes	0.8	0.6	0.2	0.6	0.6
Provision for Income Taxes	0.1	0.1	0.0	0.1	0.2
Net Income After Taxes	0.7	0.5	0.2	0.5	0.5
Net Income Before Extra. Items	0.7	0.5	0.2	0.5	0.5
Net Income	0.7	0.5	0.2	0.5	0.5
Income Available to Com Excl ExtraOrd	0.7	0.5	0.2	0.5	0.5
Income Available to Com Incl ExtraOrd	0.7	0.5	0.2	0.5	0.5
Basic Weighted Average Shares	10.2	10.2	10.2	11.7	11.7
Basic EPS Excluding ExtraOrdinary Items	0.07	0.05	0.01	0.04	0.04
Basic EPS Including ExtraOrdinary Items	0.07	0.05	0.01	0.04	0.04
Diluted Net Income	0.7	0.5	0.2	0.5	0.5
Diluted Weighted Average Shares	10.2	10.2	10.2	11.7	11.7
Diluted EPS Excluding ExtraOrd Items	0.07	0.05	0.01	0.04	0.04
Diluted EPS Including ExtraOrd Items	0.07	0.05	0.01	0.04	0.04
DPS-Common Stock	0.04	-	0.00	-	0.01
Gross Dividends - Common Stock	0.4	-	0.0	-	-
Normalized Income Before Taxes	0.8	0.6	0.2	0.6	0.6
Inc Tax Ex Impact of Sp Items	0.1	0.1	0.0	0.1	0.2
Normalized Income After Taxes	0.7	0.5	0.2	0.5	0.5
Normalized Inc. Avail to Com.	0.7	0.5	0.2	0.5	0.5
Basic Normalized EPS	0.07	0.05	0.01	0.04	0.04
Diluted Normalized EPS	0.07	0.05	0.01	0.04	0.04
Advertising Expense	0.0	0.0	0.0	0.0	-
Depreciation	0.3	0.3	0.3	0.3	0.0
Finance Costs	0.1	0.2	0.2	0.2	0.2
Rental Expense	0.1	0.1	0.1	0.1	-
Current Tax	0.1	0.0	0.0	0.1	0.0
Current Tax - Total	0.1	0.0	0.0	0.1	0.0
Deferred Tax	0.0	0.0	0.0	0.0	0.1
Deferred Tax - Total	0.0	0.0	0.0	0.0	0.1
Income Tax - Total	0.1	0.1	0.0	0.1	0.2

Annual Balance Sheet

Financials in: USD (mil)

	31-Dec-2011	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007
UpdateType/Date	Updated Normal 31-Dec-2011	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Updated Normal 31-Dec-2008	Reclassified Normal 31-Dec-2008
Filed Currency	OMR	OMR	OMR	OMR	OMR
Exchange Rate	0.385	0.385	0.38495	0.38505	0.385
Auditor	KPMG LLP	KPMG Peat Marwick LLP	KPMG LLP	KPMG LLP	KPMG LLP
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified
Raw Materials	1.1	1.2	1.2	1.2	1.2
Finished Goods	0.1	0.1	0.5	0.5	0.5
Work in Progress	0.1	0.1	0.1	0.1	0.0
Spare Parts & Consumables	0.1	0.1	0.1	0.1	0.0
Inventory Provision	-0.2	0.0	-0.3	-0.2	-0.1
Trade Receivables	3.0	2.6	2.2	2.3	2.0
Provision for Doubtful Debts	-0.9	-0.9	-0.8	-0.8	-0.6
Prepayments	0.2	0.6	0.1	0.2	0.2
Amounts Due from Related Parties	0.0	0.0	0.0	0.0	0.0
Cash & Banks	0.2	0.0	0.1	0.0	0.0
Total Current Assets	3.6	3.8	3.2	3.5	3.2
Buildings	0.7	0.7	0.7	0.7	0.7
Plant and Machinery	4.9	4.8	4.7	4.5	3.9
Furnitures, Fixtures & Office Equipment	0.3	0.3	0.2	0.2	0.2
Motor Vehicles	0.1	0.1	0.0	0.0	0.0
Accumulated Depreciation	-3.6	-3.3	-3.0	-2.8	-2.5
Total Assets	5.9	6.4	5.9	6.2	5.6
Trade Payables	0.9	0.9	0.7	0.6	0.6
Due to Related Parties	-	-	0.0	0.0	0.0
Current Port. of LT Loans	0.4	0.7	0.7	0.7	0.7
Term Loans	0.8	1.1	0.9	1.0	0.6
Total Current Liabilities	2.1	2.7	2.3	2.3	1.9
Term Loans	0.0	0.4	0.7	1.2	1.3
Total Long Term Debt	0.0	0.4	0.7	1.2	1.3
Deferred Government Grant	0.0	0.1	0.1	0.1	0.2
Staff Terminal Benefits	0.2	0.1	0.1	0.1	0.1
Deferred Tax	0.0	0.0	0.0	0.1	0.1
Total Liabilities	2.3	3.3	3.3	3.8	3.6
Share Capital	2.3	2.1	2.1	1.8	1.8
Legal Reserve	0.3	0.2	0.2	0.2	0.1
Proposed Dividends	0.3	0.2	0.0	0.3	0.1
Proposed Stock Dividends	0.3	0.2	-	-	-
Accumulated Losses	0.3	0.4	0.3	0.2	0.0
Total Equity	3.6	3.1	2.6	2.4	2.0
Total Liabilities & Shareholders' Equity	5.9	6.4	5.9	6.2	5.6
S/O-Common Stock	10.2	10.2	10.2	11.7	11.7
Total Common Shares Outstanding	10.2	10.2	10.2	11.7	11.7
Full-Time Employees	66	60	64	66	65
Number of Shareholders	315	321	328	324	315
LT Debt Maturing within 1 Year	0.4	0.7	0.7	0.7	0.7
LT Debt Maturing in 5 Years	0.1	0.4	0.9	1.3	1.5
Total Long Term Debt, Supplemental	0.4	1.1	1.5	2.0	2.2
Operating Leases Maturing within 1 Year	0.0	0.0	0.0	0.0	0.0
Operating Leases Maturing 1-5 Years	0.0	0.0	0.0	0.0	0.0
Operating Leases Remaining Maturities	0.1	0.1	0.1	0.1	0.1
Total Operating Leases	0.1	0.1	0.1	0.1	0.2

Annual Cash Flows

Financials in: USD (mil)

	31-Dec-2011	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Dec-2011	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Updated Normal 31-Dec-2008	Updated Normal 31-Dec-2007
Filed Currency	OMR	OMR	OMR	OMR	OMR
Exchange Rate (Period Average)	0.385032	0.385008	0.384999	0.384956	0.384897
Auditor	KPMG LLP	KPMG Peat Marwick LLP	KPMG LLP	KPMG LLP	KPMG LLP
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified
Net (loss) Profit	0.8	0.6	0.2	0.6	0.6
Depreciation	0.3	0.3	0.3	0.3	0.2
Provision for Doubtful Debts	0.0	0.1	0.1	0.2	0.1
Provision for Slow Moving Inventories	0.2	0.0	0.1	0.1	0.1
Sale of Property, Plant & Equipment	0.0	0.0	0.0	0.0	0.0
Staff Terminal Benefits	-	-	0.0	0.0	0.0
Finance Costs	0.2	0.2	0.2	0.2	0.2
Unfunded Defined Benefit Scheme	0.0	0.0	-	-	-
Inventories	0.2	0.1	0.0	-0.1	-0.4
Receivables & Prepayments	0.0	-0.9	0.2	-0.4	-0.3
Other Receivables	-	-	-	0.0	-
Related Parties Balances	0.0	0.0	0.0	0.0	0.0
Payables and Accruals	-0.1	0.1	0.2	-0.1	0.3
Other Payables	-	-	-	0.0	-
Net Finance Costs Paid	-0.2	-0.2	-0.2	-0.2	-0.2
Due to Related Parties	-	0.0	0.0	0.0	-
Staff Terminal Benefits	-	-	-	-	0.0
Gratuity Paid	0.0	0.0	0.0	0.0	-
Tax Paid	0.0	0.0	-0.1	0.0	-
Cash from Operating Activities	1.4	0.3	0.8	0.5	0.6
Sale of Property, Plant & Equipment	0.0	0.0	0.0	0.0	-0.3
Capital Expenditures	-0.1	-0.2	-0.2	-0.6	-
Cash from Investing Activities	-0.1	-0.2	-0.2	-0.6	-0.3
Repayment of Long Term Loans	-	-	-	-	-0.6
Receipts of a Loan	0.0	0.1	0.0	0.5	0.1
Loans Against Trust Reciept	0.1	0.0	0.0	0.4	0.0
Net ST Loans	-	-	0.0	-0.1	-
Dividend Paid	-0.2	-	0.0	-0.1	-
Repayment of Government Loan	-0.4	-0.1	0.0	-0.3	-
Repayment of Term Loan	-0.3	-0.4	-0.5	-0.4	-
Cash from Financing Activities	-0.9	-0.4	-0.5	0.0	-0.4
Net Change in Cash	0.4	-0.2	0.1	-0.2	-0.1
Net Cash - Begining Balance	-0.3	-0.1	-0.2	0.0	0.0
Net Cash - Ending Balance	0.2	-0.3	-0.1	-0.2	0.0
Cash Interest Paid	0.2	0.2	0.2	0.2	0.2
Cash Taxes Paid	0.0	0.0	0.1	0.0	-

Financial Health

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

Key Indicators USD (mil)
Â	Quarter Ending 31-Mar-2012	Quarter Ending Yr Ago	Annual Year End 31-Dec-2011	1 Year Growth	3 Year Growth	5 Year Growth
Total Revenue1	2.4	3.07%	10.1	11.02%	10.88%	14.24%
Operating Income1	0.3	72.46%	0.9	35.78%	6.62%	18.67%
Income Available to Common Excl Extraord Items1	0.3	105.41%	0.7	37.21%	9.18%	26.87%
Basic EPS Excl Extraord Items1	0.03	106.25%	0.07	37.23%	14.25%	30.56%
Capital Expenditures2	-	-	0.1	-68.63%	-54.73%	-
Cash from Operating Activities2	0.0	-	1.4	299.80%	40.80%	45.15%
Free Cash Flow	0.0	-	1.3	754.84%	-	43.87%
Total Assets3	6.0	-7.19%	5.9	-7.57%	-1.85%	3.05%
Total Liabilities3	2.5	-27.25%	2.3	-29.26%	-15.23%	-8.02%
Total Long Term Debt3	0.0	-91.50%	0.0	-89.16%	-67.63%	-53.21%
Employees3	-	-	66	10.00%	0.00%	2.62%
Total Common Shares Outstanding3	10.2	0.00%	10.2	0.00%	-4.55%	-2.76%
1-ExchangeRate: OMR to USD Average for Period	0.385046	Â	0.385032	Â	Â	Â
2-ExchangeRate: OMR to USD Average for Period	0.385046	Â	0.385032	Â	Â	Â
3-ExchangeRate: OMR to USD Period End Date	0.385025	Â	0.385000	Â	Â	Â

Key Ratios
Â	31-Dec-2011	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007
Profitability
Gross Margin	20.56%	20.02%	19.94%	27.43%	35.27%
Operating Margin	9.28%	7.58%	5.41%	10.43%	12.12%
Pretax Margin	7.54%	6.10%	2.33%	7.85%	9.88%
Net Profit Margin	6.73%	5.45%	2.18%	7.05%	7.38%
Financial Strength
Current Ratio	1.73	1.44	1.42	1.49	1.68
Long Term Debt/Equity	0.01	0.12	0.29	0.47	0.63
Total Debt/Equity	0.35	0.69	0.88	1.16	1.26
Management Effectiveness
Return on Assets	11.12%	8.12%	2.49%	8.85%	8.45%
Return on Equity	20.38%	17.43%	5.97%	23.50%	25.25%
Efficiency
Receivables Turnover	5.17	5.71	4.65	5.09	4.55
Inventory Turnover	6.26	4.72	3.34	3.22	2.61
Asset Turnover	1.65	1.49	1.14	1.26	1.15

Market Valuation USD (mil)
P/E (TTM)	5.76	.	Enterprise Value2	5.8
Price/Sales (TTM)	0.46	.	Enterprise Value/Revenue (TTM)	0.57
Price/Book (MRQ)	1.34	.	Enterprise Value/EBITDA (TTM)	4.24
Market Cap as of 01-May-20121	4.7	.
1-ExchangeRate: OMR to USD on 1-May-2012	0.385086
2-ExchangeRate: OMR to USD on 31-Mar-2012	0.385025

Annual Ratios

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Dec-2011	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007
Financial Strength
Current Ratio	1.73	1.44	1.42	1.49	1.68
Quick/Acid Test Ratio	1.12	0.68	0.65	0.68	0.73
Working Capital1	1.5	1.2	0.9	1.1	1.3
Long Term Debt/Equity	0.01	0.12	0.29	0.47	0.63
Total Debt/Equity	0.35	0.69	0.88	1.16	1.26
Long Term Debt/Total Capital	0.01	0.07	0.15	0.22	0.28
Total Debt/Total Capital	0.26	0.41	0.47	0.54	0.56
Payout Ratio	58.14%	-	0.00%	-	20.13%
Effective Tax Rate	10.73%	10.76%	6.45%	10.22%	25.32%
Total Capital1	4.8	5.3	4.9	5.3	4.6
Efficiency
Asset Turnover	1.65	1.49	1.14	1.26	1.15
Inventory Turnover	6.26	4.72	3.34	3.22	2.61
Days In Inventory	58.31	77.35	109.40	113.27	139.59
Receivables Turnover	5.17	5.71	4.65	5.09	4.55
Days Receivables Outstanding	70.63	63.93	78.54	71.76	80.30
Revenue/Employee2	153,756	152,346	108,090	112,776	94,266
Operating Income/Employee2	14,261	11,553	5,845	11,765	11,429
EBITDA/Employee2	18,859	16,361	10,432	15,818	12,148
Profitability
Gross Margin	20.56%	20.02%	19.94%	27.43%	35.27%
Operating Margin	9.28%	7.58%	5.41%	10.43%	12.12%
EBITDA Margin	12.27%	10.74%	9.65%	14.03%	12.89%
EBIT Margin	9.28%	7.58%	5.41%	10.43%	12.12%
Pretax Margin	7.54%	6.10%	2.33%	7.85%	9.88%
Net Profit Margin	6.73%	5.45%	2.18%	7.05%	7.38%
COGS/Revenue	79.44%	79.98%	80.06%	72.58%	64.73%
SG&A Expense/Revenue	10.36%	11.11%	13.63%	16.29%	22.38%
Management Effectiveness
Return on Assets	11.12%	8.12%	2.49%	8.85%	8.45%
Return on Equity	20.38%	17.43%	5.97%	23.50%	25.25%
Valuation
Free Cash Flow/Share2	0.13	0.01	0.06	-0.01	0.06
Operating Cash Flow/Share 2	0.13	0.03	0.08	0.04	0.06
1-ExchangeRate: OMR to USD Period End Date	0.385	0.385	0.38495	0.38505	0.385
2-ExchangeRate: OMR to USD Average for Period	0.385	0.385	0.38495	0.38505	0.385

Current Market Multiples
Market Cap/Earnings (TTM)	5.76
Market Cap/Equity (MRQ)	1.34
Market Cap/Revenue (TTM)	0.46
Market Cap/EBIT (TTM)	4.40
Market Cap/EBITDA (TTM)	3.42
Enterprise Value/Earnings (TTM)	7.14
Enterprise Value/Equity (MRQ)	1.67
Enterprise Value/Revenue (TTM)	0.57
Enterprise Value/EBIT (TTM)	5.45
Enterprise Value/EBITDA (TTM)	4.24

Annual Income Statement

Standardized

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Dec-2011	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Dec-2011	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Reclassified Normal 31-Dec-2009	Updated Normal 31-Dec-2007
Filed Currency	OMR	OMR	OMR	OMR	OMR
Exchange Rate (Period Average)	0.385032	0.385008	0.384999	0.384956	0.384897
Auditor	KPMG LLP	KPMG Peat Marwick LLP	KPMG LLP	KPMG LLP	Yashpal Mehta
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified
Net Sales	10.1	9.1	6.9	7.4	6.1
Revenue	10.1	9.1	6.9	7.4	6.1
Total Revenue	10.1	9.1	6.9	7.4	6.1
Cost of Revenue	8.1	7.3	5.5	5.4	4.0
Cost of Revenue, Total	8.1	7.3	5.5	5.4	4.0
Gross Profit	2.1	1.8	1.4	2.0	2.2
Selling/General/Administrative Expense	0.5	0.4	0.9	1.2	0.9
Labor & Related Expense	0.5	0.6	-	-	0.5
Advertising Expense	0.0	0.0	-	-	-
Total Selling/General/Administrative Expenses	1.1	1.0	0.9	1.2	1.4
Depreciation	0.0	0.1	0.1	0.1	0.0
Depreciation/Amortization	0.0	0.1	0.1	0.1	0.0
Other Operating Expense	0.0	0.0	-	-	-
Other Operating Expenses, Total	0.0	0.0	-	-	-
Total Operating Expense	9.2	8.4	6.5	6.7	5.4
Operating Income	0.9	0.7	0.4	0.8	0.7
Interest Expense - Non-Operating	-0.1	-0.2	-0.2	-0.2	-0.2
Interest Expense, Net Non-Operating	-0.1	-0.2	-0.2	-0.2	-0.2
Interest Income (Expense) - Net Non-Operating Total	-0.1	-0.2	-0.2	-0.2	-0.2
Other Non-Operating Income (Expense)	0.0	0.0	0.0	0.0	0.1
Other, Net	0.0	0.0	0.0	0.0	0.1
Income Before Tax	0.8	0.6	0.2	0.6	0.6
Total Income Tax	0.1	0.1	0.0	0.1	0.2
Income After Tax	0.7	0.5	0.2	0.5	0.5
Net Income Before Extraord Items	0.7	0.5	0.2	0.5	0.5
Net Income	0.7	0.5	0.2	0.5	0.5
Income Available to Common Excl Extraord Items	0.7	0.5	0.2	0.5	0.5
Income Available to Common Incl Extraord Items	0.7	0.5	0.2	0.5	0.5
Basic/Primary Weighted Average Shares	10.2	10.2	10.2	11.7	11.7
Basic EPS Excl Extraord Items	0.07	0.05	0.01	0.04	0.04
Basic/Primary EPS Incl Extraord Items	0.07	0.05	0.01	0.04	0.04
Diluted Net Income	0.7	0.5	0.2	0.5	0.5
Diluted Weighted Average Shares	10.2	10.2	10.2	11.7	11.7
Diluted EPS Excl Extraord Items	0.07	0.05	0.01	0.04	0.04
Diluted EPS Incl Extraord Items	0.07	0.05	0.01	0.04	0.04
Dividends per Share - Common Stock Primary Issue	0.04	-	0.00	-	0.01
Gross Dividends - Common Stock	0.4	-	0.0	-	-
Interest Expense, Supplemental	0.1	0.2	0.2	0.2	0.2
Depreciation, Supplemental	0.3	0.3	0.3	0.3	0.0
Normalized Income Before Tax	0.8	0.6	0.2	0.6	0.6
Inc Tax Ex Impact of Sp Items	0.1	0.1	0.0	0.1	0.2
Normalized Income After Tax	0.7	0.5	0.2	0.5	0.5
Normalized Inc. Avail to Com.	0.7	0.5	0.2	0.5	0.5
Basic Normalized EPS	0.07	0.05	0.01	0.04	0.04
Diluted Normalized EPS	0.07	0.05	0.01	0.04	0.04
Rental Expenses	0.1	0.1	0.1	0.1	-
Advertising Expense, Supplemental	0.0	0.0	0.0	0.0	-
Normalized EBIT	0.9	0.7	0.4	0.8	0.7
Normalized EBITDA	1.2	1.0	0.7	1.0	0.8
Current Tax - Domestic	0.1	0.0	0.0	0.1	0.0
Current Tax - Total	0.1	0.0	0.0	0.1	0.0
Deferred Tax - Domestic	0.0	0.0	0.0	0.0	0.1
Deferred Tax - Total	0.0	0.0	0.0	0.0	0.1
Income Tax - Total	0.1	0.1	0.0	0.1	0.2

Interim Income Statement

Standardized

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Mar-2012	31-Dec-2011	30-Sep-2011	30-Jun-2011	31-Mar-2011
Period Length	3 Months	3 Months	3 Months	3 Months	3 Months
UpdateType/Date	Updated Normal 31-Mar-2012	Updated Normal 31-Dec-2011	Updated Normal 30-Sep-2011	Updated Normal 30-Jun-2011	Updated Normal 31-Mar-2011
Filed Currency	OMR	OMR	OMR	OMR	OMR
Exchange Rate (Period Average)	0.385046	0.385019	0.385015	0.385023	0.385072
Net Sales	2.4	2.7	2.8	2.3	2.4
Revenue	2.4	2.7	2.8	2.3	2.4
Total Revenue	2.4	2.7	2.8	2.3	2.4
Cost of Revenue	1.9	2.1	2.2	1.9	1.8
Cost of Revenue, Total	1.9	2.1	2.2	1.9	1.8
Gross Profit	0.6	0.6	0.6	0.4	0.5
Selling/General/Administrative Expense	0.1	0.3	0.2	0.2	0.3
Labor & Related Expense	0.2	-	-	-	-
Advertising Expense	0.0	-	-	-	-
Total Selling/General/Administrative Expenses	0.2	0.3	0.2	0.2	0.3
Depreciation	0.0	0.0	0.0	0.0	0.0
Depreciation/Amortization	0.0	0.0	0.0	0.0	0.0
Total Operating Expense	2.1	2.4	2.4	2.2	2.2
Operating Income	0.3	0.3	0.3	0.1	0.2
Interest Expense - Non-Operating	0.0	-0.1	0.0	0.0	0.0
Interest Expense, Net Non-Operating	0.0	-0.1	0.0	0.0	0.0
Investment Income - Non-Operating	0.0	-	-	-	-
Interest/Investment Income - Non-Operating	0.0	-	-	-	-
Interest Income (Expense) - Net Non-Operating Total	0.0	-0.1	0.0	0.0	0.0
Other Non-Operating Income (Expense)	0.0	0.0	0.0	0.0	0.0
Other, Net	0.0	0.0	0.0	0.0	0.0
Income Before Tax	0.3	0.3	0.3	0.1	0.1
Total Income Tax	0.0	0.0	0.0	0.0	0.0
Income After Tax	0.3	0.3	0.3	0.1	0.1
Net Income Before Extraord Items	0.3	0.3	0.3	0.1	0.1
Net Income	0.3	0.3	0.3	0.1	0.1
Income Available to Common Excl Extraord Items	0.3	0.3	0.3	0.1	0.1
Income Available to Common Incl Extraord Items	0.3	0.3	0.3	0.1	0.1
Basic/Primary Weighted Average Shares	10.2	10.2	10.2	10.2	10.2
Basic EPS Excl Extraord Items	0.03	0.02	0.02	0.01	0.01
Basic/Primary EPS Incl Extraord Items	0.03	0.02	0.02	0.01	0.01
Diluted Net Income	0.3	0.3	0.3	0.1	0.1
Diluted Weighted Average Shares	10.2	10.2	10.2	10.2	10.2
Diluted EPS Excl Extraord Items	0.03	0.02	0.02	0.01	0.01
Diluted EPS Incl Extraord Items	0.03	0.02	0.02	0.01	0.01
Dividends per Share - Common Stock Primary Issue	0.00	0.04	0.00	0.00	0.00
Gross Dividends - Common Stock	0.0	0.4	0.0	0.0	0.0
Interest Expense, Supplemental	0.0	0.1	0.0	0.0	0.0
Depreciation, Supplemental	0.1	0.1	0.1	0.1	0.1
Normalized Income Before Tax	0.3	0.3	0.3	0.1	0.1
Inc Tax Ex Impact of Sp Items	0.0	0.0	0.0	0.0	0.0
Normalized Income After Tax	0.3	0.3	0.3	0.1	0.1
Normalized Inc. Avail to Com.	0.3	0.3	0.3	0.1	0.1
Basic Normalized EPS	0.03	0.02	0.02	0.01	0.01
Diluted Normalized EPS	0.03	0.02	0.02	0.01	0.01
Rental Expenses	0.0	-	-	-	0.0
Advertising Expense, Supplemental	0.0	-	-	-	0.0
Normalized EBIT	0.3	0.3	0.3	0.1	0.2
Normalized EBITDA	0.4	0.4	0.4	0.2	0.3
Current Tax - Domestic	0.0	-	-	-	0.0
Current Tax - Total	0.0	-	-	-	0.0
Deferred Tax - Domestic	0.0	-	-	-	0.0
Deferred Tax - Total	0.0	-	-	-	0.0
Income Tax - Total	0.0	-	-	-	0.0

Annual Balance Sheet

Standardized

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Dec-2011	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007
UpdateType/Date	Updated Normal 31-Dec-2011	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Updated Normal 31-Dec-2008	Reclassified Normal 31-Dec-2008
Filed Currency	OMR	OMR	OMR	OMR	OMR
Exchange Rate	0.385	0.385	0.38495	0.38505	0.385
Auditor	KPMG LLP	KPMG Peat Marwick LLP	KPMG LLP	KPMG LLP	Yashpal Mehta
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified
Cash & Equivalents	0.2	0.0	0.1	0.0	0.0
Cash and Short Term Investments	0.2	0.0	0.1	0.0	0.0
Accounts Receivable - Trade, Gross	3.0	2.6	2.2	2.3	2.0
Provision for Doubtful Accounts	-0.9	-0.9	-0.8	-0.8	-0.6
Trade Accounts Receivable - Net	2.2	1.8	1.4	1.6	1.4
Total Receivables, Net	2.2	1.8	1.4	1.6	1.4
Inventories - Finished Goods	0.1	0.1	0.5	0.5	0.5
Inventories - Work In Progress	0.1	0.1	0.1	0.1	0.0
Inventories - Raw Materials	1.1	1.2	1.2	1.2	1.2
Inventories - Other	-0.1	0.0	-0.2	-0.1	-0.1
Total Inventory	1.1	1.5	1.6	1.7	1.7
Prepaid Expenses	0.2	0.6	0.1	0.2	0.2
Total Current Assets	3.6	3.8	3.2	3.5	3.2
Buildings	0.7	0.7	0.7	0.7	0.7
Machinery/Equipment	0.3	0.3	0.3	0.3	0.3
Other Property/Plant/Equipment	4.9	4.8	4.7	4.5	3.9
Property/Plant/Equipment - Gross	5.9	5.9	5.7	5.5	4.9
Accumulated Depreciation	-3.6	-3.3	-3.0	-2.8	-2.5
Property/Plant/Equipment - Net	2.3	2.6	2.7	2.8	2.4
Total Assets	5.9	6.4	5.9	6.2	5.6
Accounts Payable	0.9	0.9	0.7	0.6	0.6
Notes Payable/Short Term Debt	0.8	1.1	0.9	1.0	0.6
Current Portion - Long Term Debt/Capital Leases	0.4	0.7	0.7	0.7	0.7
Other Payables	-	-	0.0	0.0	0.0
Other Current liabilities, Total	-	-	0.0	0.0	0.0
Total Current Liabilities	2.1	2.7	2.3	2.3	1.9
Long Term Debt	0.0	0.4	0.7	1.2	1.3
Total Long Term Debt	0.0	0.4	0.7	1.2	1.3
Total Debt	1.2	2.2	2.3	2.9	2.5
Deferred Income Tax - LT Liability	0.0	0.0	0.0	0.1	0.1
Deferred Income Tax	0.0	0.0	0.0	0.1	0.1
Pension Benefits - Underfunded	0.2	0.1	0.1	0.1	0.1
Other Long Term Liabilities	0.0	0.1	0.1	0.1	0.2
Other Liabilities, Total	0.2	0.2	0.2	0.2	0.3
Total Liabilities	2.3	3.3	3.3	3.8	3.6
Common Stock	2.3	2.1	2.1	1.8	1.8
Common Stock	2.3	2.1	2.1	1.8	1.8
Retained Earnings (Accumulated Deficit)	1.3	1.0	0.5	0.6	0.2
Total Equity	3.6	3.1	2.6	2.4	2.0
Total Liabilities & Shareholders’ Equity	5.9	6.4	5.9	6.2	5.6
Shares Outstanding - Common Stock Primary Issue	10.2	10.2	10.2	11.7	11.7
Total Common Shares Outstanding	10.2	10.2	10.2	11.7	11.7
Employees	66	60	64	66	65
Number of Common Shareholders	315	321	328	324	315
Total Long Term Debt, Supplemental	0.4	1.1	1.5	2.0	2.2
Long Term Debt Maturing within 1 Year	0.4	0.7	0.7	0.7	0.7
Long Term Debt Matur. in Year 6 & Beyond	0.1	0.4	0.9	1.3	1.5
Total Operating Leases, Supplemental	0.1	0.1	0.1	0.1	0.2
Operating Lease Payments Due in Year 1	0.0	0.0	0.0	0.0	0.0
Operating Lease Payments Due in Year 2	0.0	0.0	0.0	0.0	0.0
Operating Lease Payments Due in Year 3	0.0	0.0	0.0	0.0	0.0
Operating Lease Payments Due in Year 4	0.0	0.0	0.0	0.0	0.0
Operating Lease Payments Due in Year 5	0.0	0.0	0.0	0.0	0.0
Operating Lease Pymts. Due in 2-3 Years	0.0	0.0	0.0	0.0	0.0
Operating Lease Pymts. Due in 4-5 Years	0.0	0.0	0.0	0.0	0.0
Oper. Lse. Pymts. Due in Year 6 & Beyond	0.1	0.1	0.1	0.1	0.1

Interim Balance Sheet

Standardized

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Mar-2012	31-Dec-2011	30-Sep-2011	30-Jun-2011	31-Mar-2011
UpdateType/Date	Updated Normal 31-Mar-2012	Updated Normal 31-Dec-2011	Updated Normal 30-Sep-2011	Updated Normal 30-Jun-2011	Updated Normal 31-Mar-2011
Filed Currency	OMR	OMR	OMR	OMR	OMR
Exchange Rate	0.385025	0.385	0.38505	0.38505	0.385
Cash & Equivalents	0.1	0.2	0.0	0.0	0.0
Cash and Short Term Investments	0.1	0.2	0.0	0.0	0.0
Accounts Receivable - Trade, Gross	3.3	3.0	3.1	2.6	3.0
Provision for Doubtful Accounts	-1.1	-1.1	-1.1	-1.1	-1.0
Trade Accounts Receivable - Net	2.2	1.9	2.0	1.5	1.9
Other Receivables	0.0	0.0	0.0	0.0	0.0
Total Receivables, Net	2.2	1.9	2.0	1.5	1.9
Inventories - Finished Goods	0.1	0.1	0.1	0.1	0.1
Inventories - Work In Progress	0.1	0.1	0.1	0.0	0.1
Inventories - Raw Materials	1.1	1.1	1.3	1.2	1.5
Inventories - Other	-	0.1	-	-	-
Total Inventory	1.3	1.3	1.5	1.4	1.7
Prepaid Expenses	-	0.2	-	-	-
Other Current Assets	0.2	-	0.3	0.7	0.3
Other Current Assets, Total	0.2	-	0.3	0.7	0.3
Total Current Assets	3.7	3.6	3.9	3.6	4.0
Property/Plant/Equipment - Net	2.3	2.3	2.4	2.5	2.5
Total Assets	6.0	5.9	6.3	6.1	6.5
Accounts Payable	1.3	0.9	1.1	0.9	1.2
Notes Payable/Short Term Debt	0.8	0.8	1.0	1.3	1.3
Current Portion - Long Term Debt/Capital Leases	0.4	0.4	0.4	0.4	0.5
Other Payables	-	-	0.0	0.0	0.0
Other Current liabilities, Total	-	-	0.0	0.0	0.0
Total Current Liabilities	2.5	2.1	2.6	2.6	3.0
Long Term Debt	0.0	0.0	0.3	0.4	0.4
Total Long Term Debt	0.0	0.0	0.3	0.4	0.4
Total Debt	1.2	1.2	1.8	2.1	2.2
Deferred Income Tax - LT Liability	-	0.0	-	-	-
Deferred Income Tax	-	0.0	-	-	-
Pension Benefits - Underfunded	-	0.2	-	-	-
Other Long Term Liabilities	-	0.0	-	-	-
Other Liabilities, Total	-	0.2	-	-	-
Total Liabilities	2.5	2.3	2.9	3.0	3.4
Common Stock	2.6	2.3	2.3	2.3	2.3
Common Stock	2.6	2.3	2.3	2.3	2.3
Retained Earnings (Accumulated Deficit)	0.9	1.3	1.0	0.8	0.7
Total Equity	3.5	3.6	3.3	3.1	3.0
Total Liabilities & Shareholders’ Equity	6.0	5.9	6.3	6.1	6.5
Shares Outstanding - Common Stock Primary Issue	10.2	10.2	10.2	10.2	10.2
Total Common Shares Outstanding	10.2	10.2	10.2	10.2	10.2
Total Long Term Debt, Supplemental	-	0.4	0.8	-	0.9
Long Term Debt Maturing within 1 Year	-	0.4	0.4	-	0.5
Long Term Debt Matur. in Year 6 & Beyond	-	0.1	0.3	-	0.4

Annual Cash Flows

Standardized

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Dec-2011	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Dec-2011	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Updated Normal 31-Dec-2008	Updated Normal 31-Dec-2007
Filed Currency	OMR	OMR	OMR	OMR	OMR
Exchange Rate (Period Average)	0.385032	0.385008	0.384999	0.384956	0.384897
Auditor	KPMG LLP	KPMG Peat Marwick LLP	KPMG LLP	KPMG LLP	Yashpal Mehta
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified
Net Income/Starting Line	0.8	0.6	0.2	0.6	0.6
Depreciation	0.3	0.3	0.3	0.3	0.2
Depreciation/Depletion	0.3	0.3	0.3	0.3	0.2
Unusual Items	0.0	0.0	0.0	0.0	0.0
Other Non-Cash Items	0.4	0.3	0.4	0.5	0.3
Non-Cash Items	0.4	0.3	0.4	0.5	0.3
Accounts Receivable	0.0	-0.9	0.2	-0.4	-0.3
Inventories	0.2	0.1	0.0	-0.1	-0.4
Other Assets	-	-	-	0.0	-
Payable/Accrued	-0.1	0.1	0.2	-0.1	0.3
Other Liabilities	-	0.0	0.0	0.0	0.0
Other Assets & Liabilities, Net	0.0	0.0	0.0	0.0	0.0
Other Operating Cash Flow	-0.2	-0.2	-0.3	-0.3	-0.2
Changes in Working Capital	-0.1	-0.8	0.0	-0.9	-0.5
Cash from Operating Activities	1.4	0.3	0.8	0.5	0.6
Purchase of Fixed Assets	-0.1	-0.2	-0.2	-0.6	-
Capital Expenditures	-0.1	-0.2	-0.2	-0.6	-
Sale of Fixed Assets	0.0	0.0	0.0	0.0	-0.3
Other Investing Cash Flow Items, Total	0.0	0.0	0.0	0.0	-0.3
Cash from Investing Activities	-0.1	-0.2	-0.2	-0.6	-0.3
Other Financing Cash Flow	0.1	0.0	0.0	0.4	0.0
Financing Cash Flow Items	0.1	0.0	0.0	0.4	0.0
Cash Dividends Paid - Common	-0.2	-	0.0	-0.1	-
Total Cash Dividends Paid	-0.2	-	0.0	-0.1	-
Short Term Debt, Net	-	-	0.0	-0.1	-
Long Term Debt Issued	0.0	0.1	0.0	0.5	0.1
Long Term Debt Reduction	-0.7	-0.5	-0.5	-0.7	-0.6
Long Term Debt, Net	-0.7	-0.4	-0.5	-0.2	-0.4
Issuance (Retirement) of Debt, Net	-0.7	-0.4	-0.5	-0.3	-0.4
Cash from Financing Activities	-0.9	-0.4	-0.5	0.0	-0.4
Net Change in Cash	0.4	-0.2	0.1	-0.2	-0.1
Net Cash - Beginning Balance	-0.3	-0.1	-0.2	0.0	0.0
Net Cash - Ending Balance	0.2	-0.3	-0.1	-0.2	0.0
Cash Interest Paid	0.2	0.2	0.2	0.2	0.2
Cash Taxes Paid	0.0	0.0	0.1	0.0	-

Interim Cash Flows

Standardized

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Mar-2012	31-Dec-2011	30-Sep-2011	30-Jun-2011	31-Mar-2011
Period Length	3 Months	12 Months	9 Months	6 Months	3 Months
UpdateType/Date	Updated Normal 31-Mar-2012	Updated Normal 31-Dec-2011	Updated Normal 30-Sep-2011	Updated Normal 30-Jun-2011	Updated Normal 31-Mar-2011
Filed Currency	OMR	OMR	OMR	OMR	OMR
Exchange Rate (Period Average)	0.385046	0.385032	0.385036	0.385048	0.385072
Unusual Items	-	-	0.0	0.0	-
Other Non-Cash Items	-	-	-	-	0.0
Non-Cash Items	-	-	0.0	0.0	0.0
Other Operating Cash Flow	0.0	1.4	0.7	0.4	0.0
Changes in Working Capital	0.0	1.4	0.7	0.4	0.0
Cash from Operating Activities	0.0	1.4	0.7	0.4	0.0
Other Investing Cash Flow	0.0	-0.1	-0.1	0.0	0.0
Other Investing Cash Flow Items, Total	0.0	-0.1	-0.1	0.0	0.0
Cash from Investing Activities	0.0	-0.1	-0.1	0.0	0.0
Other Financing Cash Flow	0.0	-0.9	-0.6	-0.5	-0.2
Financing Cash Flow Items	0.0	-0.9	-0.6	-0.5	-0.2
Cash from Financing Activities	0.0	-0.9	-0.6	-0.5	-0.2
Net Change in Cash	-0.1	0.4	0.0	-0.2	-0.2
Net Cash - Beginning Balance	-0.7	-0.3	-1.0	-1.0	-1.0
Net Cash - Ending Balance	-0.7	0.2	-1.0	-1.3	-1.3
Cash Interest Paid	0.0	0.2	0.0	0.0	0.0
Cash Taxes Paid	-	0.0	-	-	-

Annual Income Statement

As Reported

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Dec-2011	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Dec-2011	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Reclassified Normal 31-Dec-2009	Updated Normal 31-Dec-2007
Filed Currency	OMR	OMR	OMR	OMR	OMR
Exchange Rate (Period Average)	0.385032	0.385008	0.384999	0.384956	0.384897
Auditor	KPMG LLP	KPMG Peat Marwick LLP	KPMG LLP	KPMG LLP	KPMG LLP
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified
Revenues	10.1	9.1	6.9	7.4	6.1
Total Revenue	10.1	9.1	6.9	7.4	6.1
Cost of Saless	8.1	7.3	5.5	5.4	4.0
Employee Related Expenses	-	-	-	-	0.5
Depreciation	-	0.0	0.1	0.1	0.0
Provision for Doubtful Debts	0.0	0.1	0.1	0.2	0.1
Provision for Slow Moving Inventories	0.2	0.0	0.1	0.1	0.1
General / Admin Expenses	0.1	0.1	0.6	0.7	0.2
Employee Related Expenses-G&A	0.5	0.6	-	-	-
Advertising-G&A	0.0	0.0	-	-	-
Depreciation-G&A	0.0	0.0	-	-	-
Other Expenses-G&A	0.0	0.0	-	-	-
Selling & Distribution	0.2	0.2	0.2	0.2	0.6
Advertisement and Sales Promotion	0.0	-	-	-	-
Other Expenses	0.0	-	-	-	-
Total Operating Expense	9.2	8.4	6.5	6.7	5.4
Finance Costs	-0.1	-0.2	-0.2	-0.2	-0.2
Other Finance Costs	0.0	0.0	0.0	-	-
Other Income	0.0	0.1	0.0	0.0	0.1
Net Income Before Taxes	0.8	0.6	0.2	0.6	0.6
Provision for Income Taxes	0.1	0.1	0.0	0.1	0.2
Net Income After Taxes	0.7	0.5	0.2	0.5	0.5
Net Income Before Extra. Items	0.7	0.5	0.2	0.5	0.5
Net Income	0.7	0.5	0.2	0.5	0.5
Income Available to Com Excl ExtraOrd	0.7	0.5	0.2	0.5	0.5
Income Available to Com Incl ExtraOrd	0.7	0.5	0.2	0.5	0.5
Basic Weighted Average Shares	10.2	10.2	10.2	11.7	11.7
Basic EPS Excluding ExtraOrdinary Items	0.07	0.05	0.01	0.04	0.04
Basic EPS Including ExtraOrdinary Items	0.07	0.05	0.01	0.04	0.04
Diluted Net Income	0.7	0.5	0.2	0.5	0.5
Diluted Weighted Average Shares	10.2	10.2	10.2	11.7	11.7
Diluted EPS Excluding ExtraOrd Items	0.07	0.05	0.01	0.04	0.04
Diluted EPS Including ExtraOrd Items	0.07	0.05	0.01	0.04	0.04
DPS-Common Stock	0.04	-	0.00	-	0.01
Gross Dividends - Common Stock	0.4	-	0.0	-	-
Normalized Income Before Taxes	0.8	0.6	0.2	0.6	0.6
Inc Tax Ex Impact of Sp Items	0.1	0.1	0.0	0.1	0.2
Normalized Income After Taxes	0.7	0.5	0.2	0.5	0.5
Normalized Inc. Avail to Com.	0.7	0.5	0.2	0.5	0.5
Basic Normalized EPS	0.07	0.05	0.01	0.04	0.04
Diluted Normalized EPS	0.07	0.05	0.01	0.04	0.04
Advertising Expense	0.0	0.0	0.0	0.0	-
Depreciation	0.3	0.3	0.3	0.3	0.0
Finance Costs	0.1	0.2	0.2	0.2	0.2
Rental Expense	0.1	0.1	0.1	0.1	-
Current Tax	0.1	0.0	0.0	0.1	0.0
Current Tax - Total	0.1	0.0	0.0	0.1	0.0
Deferred Tax	0.0	0.0	0.0	0.0	0.1
Deferred Tax - Total	0.0	0.0	0.0	0.0	0.1
Income Tax - Total	0.1	0.1	0.0	0.1	0.2

Interim Income Statement

As Reported

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Mar-2012	31-Dec-2011	30-Sep-2011	30-Jun-2011	31-Mar-2011
Period Length	3 Months	3 Months	3 Months	3 Months	3 Months
UpdateType/Date	Updated Normal 31-Mar-2012	Updated Normal 31-Dec-2011	Updated Normal 30-Sep-2011	Updated Normal 30-Jun-2011	Updated Normal 31-Mar-2011
Filed Currency	OMR	OMR	OMR	OMR	OMR
Exchange Rate (Period Average)	0.385046	0.385019	0.385015	0.385023	0.385072
Revenues	-	2.7	2.8	2.3	2.4
Local Sales	0.0	-	-	-	-
Exports	2.4	-	-	-	-
Total Revenue	2.4	2.7	2.8	2.3	2.4
Cost of Sales	1.9	2.1	2.2	1.9	1.8
Depreciation	0.0	0.0	0.0	0.0	0.0
General / Admin Expenses	0.0	0.2	0.2	0.2	0.2
Salaries & Staff Costs	0.2	-	-	-	-
Advertising (G&A)	0.0	-	-	-	-
Selling & Distribution	0.0	0.1	0.1	0.0	0.0
Advertising (Distribution)	0.0	-	-	-	-
Provision for Slow Moving Inventories	0.0	0.0	0.0	0.0	0.1
Provision for Doubtful Debts	0.0	0.0	0.0	0.0	0.0
Total Operating Expense	2.1	2.4	2.4	2.2	2.2
Other Finance Costs	0.0	0.0	0.0	0.0	0.0
Interest Expense	0.0	-0.1	0.0	0.0	0.0
Exchange Rate sDifference	0.0	-	-	-	-
Other Income	-	0.0	0.0	0.0	-
Net Income Before Taxes	0.3	0.3	0.3	0.1	0.1
Provision for Income Taxes	0.0	0.0	0.0	0.0	0.0
Net Income After Taxes	0.3	0.3	0.3	0.1	0.1
Net Income Before Extra. Items	0.3	0.3	0.3	0.1	0.1
Net Income	0.3	0.3	0.3	0.1	0.1
Income Available to Com Excl ExtraOrd	0.3	0.3	0.3	0.1	0.1
Income Available to Com Incl ExtraOrd	0.3	0.3	0.3	0.1	0.1
Basic Weighted Average Shares	10.2	10.2	10.2	10.2	10.2
Basic EPS Excluding ExtraOrdinary Items	0.03	0.02	0.02	0.00	0.01
Basic EPS Including ExtraOrdinary Items	0.03	0.02	0.02	0.00	0.01
Diluted Net Income	0.3	0.3	0.3	0.1	0.1
Diluted Weighted Average Shares	10.2	10.2	10.2	10.2	10.2
Diluted EPS Excluding ExtraOrd Items	0.03	0.02	0.02	0.00	0.01
Diluted EPS Including ExtraOrd Items	0.03	0.02	0.02	0.00	0.01
DPS-Common Stock	0.00	0.04	0.00	0.00	0.00
Gross Dividends - Common Stock	0.0	0.4	0.0	0.0	0.0
Normalized Income Before Taxes	0.3	0.3	0.3	0.1	0.1
Inc Tax Ex Impact of Sp Items	0.0	0.0	0.0	0.0	0.0
Normalized Income After Taxes	0.3	0.3	0.3	0.1	0.1
Normalized Inc. Avail to Com.	0.3	0.3	0.3	0.1	0.1
Basic Normalized EPS	0.03	0.02	0.02	0.00	0.01
Diluted Normalized EPS	0.03	0.02	0.02	0.00	0.01
Depreciation	0.1	0.1	0.1	0.1	0.1
Interest Expense	0.0	0.1	0.0	0.0	0.0
Rent	0.0	-	-	-	0.0
Advertising	0.0	-	-	-	0.0
Current Tax	0.0	-	-	-	0.0
Current Tax - Total	0.0	-	-	-	0.0
Deferred Tax	0.0	-	-	-	0.0
Deferred Tax - Total	0.0	-	-	-	0.0
Income Tax - Total	0.0	-	-	-	0.0

Annual Balance Sheet

As Reported

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Dec-2011	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007
UpdateType/Date	Updated Normal 31-Dec-2011	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Updated Normal 31-Dec-2008	Reclassified Normal 31-Dec-2008
Filed Currency	OMR	OMR	OMR	OMR	OMR
Exchange Rate	0.385	0.385	0.38495	0.38505	0.385
Auditor	KPMG LLP	KPMG Peat Marwick LLP	KPMG LLP	KPMG LLP	KPMG LLP
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified
Raw Materials	1.1	1.2	1.2	1.2	1.2
Finished Goods	0.1	0.1	0.5	0.5	0.5
Work in Progress	0.1	0.1	0.1	0.1	0.0
Spare Parts & Consumables	0.1	0.1	0.1	0.1	0.0
Inventory Provision	-0.2	0.0	-0.3	-0.2	-0.1
Trade Receivables	3.0	2.6	2.2	2.3	2.0
Provision for Doubtful Debts	-0.9	-0.9	-0.8	-0.8	-0.6
Prepayments	0.2	0.6	0.1	0.2	0.2
Amounts Due from Related Parties	0.0	0.0	0.0	0.0	0.0
Cash & Banks	0.2	0.0	0.1	0.0	0.0
Total Current Assets	3.6	3.8	3.2	3.5	3.2
Buildings	0.7	0.7	0.7	0.7	0.7
Plant and Machinery	4.9	4.8	4.7	4.5	3.9
Furnitures, Fixtures & Office Equipment	0.3	0.3	0.2	0.2	0.2
Motor Vehicles	0.1	0.1	0.0	0.0	0.0
Accumulated Depreciation	-3.6	-3.3	-3.0	-2.8	-2.5
Total Assets	5.9	6.4	5.9	6.2	5.6
Trade Payables	0.9	0.9	0.7	0.6	0.6
Due to Related Parties	-	-	0.0	0.0	0.0
Current Port. of LT Loans	0.4	0.7	0.7	0.7	0.7
Term Loans	0.8	1.1	0.9	1.0	0.6
Total Current Liabilities	2.1	2.7	2.3	2.3	1.9
Term Loans	0.0	0.4	0.7	1.2	1.3
Total Long Term Debt	0.0	0.4	0.7	1.2	1.3
Deferred Government Grant	0.0	0.1	0.1	0.1	0.2
Staff Terminal Benefits	0.2	0.1	0.1	0.1	0.1
Deferred Tax	0.0	0.0	0.0	0.1	0.1
Total Liabilities	2.3	3.3	3.3	3.8	3.6
Share Capital	2.3	2.1	2.1	1.8	1.8
Legal Reserve	0.3	0.2	0.2	0.2	0.1
Proposed Dividends	0.3	0.2	0.0	0.3	0.1
Proposed Stock Dividends	0.3	0.2	-	-	-
Accumulated Losses	0.3	0.4	0.3	0.2	0.0
Total Equity	3.6	3.1	2.6	2.4	2.0
Total Liabilities & Shareholders' Equity	5.9	6.4	5.9	6.2	5.6
S/O-Common Stock	10.2	10.2	10.2	11.7	11.7
Total Common Shares Outstanding	10.2	10.2	10.2	11.7	11.7
Full-Time Employees	66	60	64	66	65
Number of Shareholders	315	321	328	324	315
LT Debt Maturing within 1 Year	0.4	0.7	0.7	0.7	0.7
LT Debt Maturing in 5 Years	0.1	0.4	0.9	1.3	1.5
Total Long Term Debt, Supplemental	0.4	1.1	1.5	2.0	2.2
Operating Leases Maturing within 1 Year	0.0	0.0	0.0	0.0	0.0
Operating Leases Maturing 1-5 Years	0.0	0.0	0.0	0.0	0.0
Operating Leases Remaining Maturities	0.1	0.1	0.1	0.1	0.1
Total Operating Leases	0.1	0.1	0.1	0.1	0.2

Interim Balance Sheet

As Reported

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Mar-2012	31-Dec-2011	30-Sep-2011	30-Jun-2011	31-Mar-2011
UpdateType/Date	Updated Normal 31-Mar-2012	Updated Normal 31-Dec-2011	Updated Normal 30-Sep-2011	Updated Normal 30-Jun-2011	Updated Normal 31-Mar-2011
Filed Currency	OMR	OMR	OMR	OMR	OMR
Exchange Rate	0.385025	0.385	0.38505	0.38505	0.385
Raw Materials	1.1	1.1	1.3	1.2	1.5
Work in Progress	0.1	0.1	0.1	0.0	0.1
Finished Goods	0.1	0.1	0.1	0.1	0.1
Provision	-0.2	-0.2	-0.2	-0.2	-0.2
Spare Parts & Consumables	-	0.1	-	-	-
Trade Receivables	3.3	3.0	3.1	2.6	3.0
Provision for Doubtful Debts	-0.9	-0.9	-0.9	-0.9	-0.9
Prepayments	-	0.2	-	-	-
Amounts Due from Related Parties	0.0	0.0	0.0	0.0	0.0
Bank & Cash	0.1	0.2	0.0	0.0	0.0
Other Assets	0.2	-	0.3	0.7	0.3
Total Current Assets	3.7	3.6	3.9	3.6	4.0
Fixed Assets	2.3	2.3	2.4	2.5	2.5
Total Assets	6.0	5.9	6.3	6.1	6.5
Trade & Other Creditors	1.3	0.9	1.1	0.9	1.2
Amount Due to Related Party	-	-	0.0	0.0	0.0
Bank Borrowings	0.8	0.8	1.0	1.3	1.3
Current Portion of LT Loans	0.4	0.4	0.4	0.4	0.5
Total Current Liabilities	2.5	2.1	2.6	2.6	3.0
Term Loans	0.0	0.0	0.3	0.4	0.4
Total Long Term Debt	0.0	0.0	0.3	0.4	0.4
Deferred Government Grant	-	0.0	-	-	-
Staff Terminal Benefits	-	0.2	-	-	-
Deferred Tax	-	0.0	-	-	-
Total Liabilities	2.5	2.3	2.9	3.0	3.4
Share Capital	2.6	2.3	2.3	2.3	2.3
Legal Reserve	0.3	0.3	0.3	0.2	0.2
Retained Earnings	0.3	-	0.4	0.4	0.4
Profit & Loss Account	0.2	0.3	0.4	0.2	0.1
Proposed Dividends	-	0.3	-	-	-
Proposed Stock Dividends	-	0.3	-	-	-
Total Equity	3.5	3.6	3.3	3.1	3.0
Total Liabilities & Shareholders' Equity	6.0	5.9	6.3	6.1	6.5
S/O-Common Stock	10.2	10.2	10.2	10.2	10.2
Total Common Shares Outstanding	10.2	10.2	10.2	10.2	10.2
LT Debt Maturing within 1 Year	-	0.4	0.4	-	0.5
LT Debt Remaining Maturities	-	0.1	0.3	-	0.4
Total Long Term Debt, Supplemental	-	0.4	0.8	-	0.9

Annual Cash Flows

As Reported

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Dec-2011	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Dec-2011	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Updated Normal 31-Dec-2008	Updated Normal 31-Dec-2007
Filed Currency	OMR	OMR	OMR	OMR	OMR
Exchange Rate (Period Average)	0.385032	0.385008	0.384999	0.384956	0.384897
Auditor	KPMG LLP	KPMG Peat Marwick LLP	KPMG LLP	KPMG LLP	KPMG LLP
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified
Net (loss) Profit	0.8	0.6	0.2	0.6	0.6
Depreciation	0.3	0.3	0.3	0.3	0.2
Provision for Doubtful Debts	0.0	0.1	0.1	0.2	0.1
Provision for Slow Moving Inventories	0.2	0.0	0.1	0.1	0.1
Sale of Property, Plant & Equipment	0.0	0.0	0.0	0.0	0.0
Staff Terminal Benefits	-	-	0.0	0.0	0.0
Finance Costs	0.2	0.2	0.2	0.2	0.2
Unfunded Defined Benefit Scheme	0.0	0.0	-	-	-
Inventories	0.2	0.1	0.0	-0.1	-0.4
Receivables & Prepayments	0.0	-0.9	0.2	-0.4	-0.3
Other Receivables	-	-	-	0.0	-
Related Parties Balances	0.0	0.0	0.0	0.0	0.0
Payables and Accruals	-0.1	0.1	0.2	-0.1	0.3
Other Payables	-	-	-	0.0	-
Net Finance Costs Paid	-0.2	-0.2	-0.2	-0.2	-0.2
Due to Related Parties	-	0.0	0.0	0.0	-
Staff Terminal Benefits	-	-	-	-	0.0
Gratuity Paid	0.0	0.0	0.0	0.0	-
Tax Paid	0.0	0.0	-0.1	0.0	-
Cash from Operating Activities	1.4	0.3	0.8	0.5	0.6
Sale of Property, Plant & Equipment	0.0	0.0	0.0	0.0	-0.3
Capital Expenditures	-0.1	-0.2	-0.2	-0.6	-
Cash from Investing Activities	-0.1	-0.2	-0.2	-0.6	-0.3
Repayment of Long Term Loans	-	-	-	-	-0.6
Receipts of a Loan	0.0	0.1	0.0	0.5	0.1
Loans Against Trust Reciept	0.1	0.0	0.0	0.4	0.0
Net ST Loans	-	-	0.0	-0.1	-
Dividend Paid	-0.2	-	0.0	-0.1	-
Repayment of Government Loan	-0.4	-0.1	0.0	-0.3	-
Repayment of Term Loan	-0.3	-0.4	-0.5	-0.4	-
Cash from Financing Activities	-0.9	-0.4	-0.5	0.0	-0.4
Net Change in Cash	0.4	-0.2	0.1	-0.2	-0.1
Net Cash - Begining Balance	-0.3	-0.1	-0.2	0.0	0.0
Net Cash - Ending Balance	0.2	-0.3	-0.1	-0.2	0.0
Cash Interest Paid	0.2	0.2	0.2	0.2	0.2
Cash Taxes Paid	0.0	0.0	0.1	0.0	-

Interim Cash Flows

As Reported

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Mar-2012	31-Dec-2011	30-Sep-2011	30-Jun-2011	31-Mar-2011
Period Length	3 Months	12 Months	9 Months	6 Months	3 Months
UpdateType/Date	Updated Normal 31-Mar-2012	Updated Normal 31-Dec-2011	Updated Normal 30-Sep-2011	Updated Normal 30-Jun-2011	Updated Normal 31-Mar-2011
Filed Currency	OMR	OMR	OMR	OMR	OMR
Exchange Rate (Period Average)	0.385046	0.385032	0.385036	0.385048	0.385072
Cash From Operations	0.0	1.6	0.7	0.4	0.0
Tax Paid	-	0.0	-	-	-
Provision for Tax	-	-	-	-	0.0
Profit from Sale of P,P & E	-	-	0.0	0.0	-
Gratuity Paid	-	0.0	-	-	-
Interest Paid	0.0	-0.2	0.0	0.0	0.0
Cash from Operating Activities	0.0	1.4	0.7	0.4	0.0
Cash From Investing Activities	0.0	-0.1	-0.1	0.0	0.0
Cash from Investing Activities	0.0	-0.1	-0.1	0.0	0.0
Cash From Financing Activities	0.0	-0.9	-0.6	-0.5	-0.2
Cash from Financing Activities	0.0	-0.9	-0.6	-0.5	-0.2
Net Change in Cash	-0.1	0.4	0.0	-0.2	-0.2
Net Cash - Begining Balance	-0.7	-0.3	-1.0	-1.0	-1.0
Net Cash - Ending Balance	-0.7	0.2	-1.0	-1.3	-1.3
Cash Interest Paid	0.0	0.2	0.0	0.0	0.0
Cash Taxes Paid	-	0.0	-	-	-

Geographic Segments

Financials in: As Reported (mil)

Annual

External Revenue USD (mil)
	31-Dec-11		31-Dec-10		31-Dec-09		31-Dec-08		31-Dec-07
Oman	0.0	0.2 %	0.1	0.8 %	0.1	0.9 %	0.0	0.3 %	0.1	1.2 %
India	2.0	19.6 %	2.0	22.3 %	1.8	26 %	2.5	33.8 %	2.1	34.3 %
Pakistan	2.6	25.3 %	2.0	22.2 %	1.6	23.6 %	1.7	22.7 %	1.6	26.1 %
Turkey	1.4	14.2 %	1.8	19.8 %	1.3	19.4 %	-	-	-	-
United Arab Emirates	0.9	8.7 %	1.2	13.7 %	1.2	18 %	-	-	-	-
Jordan	1.4	13.8 %	1.2	13.6 %	0.3	4.1 %	-	-	-	-
Bahrain	0.9	8.4 %	0.6	6.7 %	0.5	6.7 %	-	-	-	-
Sri Lanka	0.0	0 %	0.0	0.4 %	0.0	0 %	-	-	-	-
Egypt	0.1	0.5 %	0.0	0.3 %	0.0	0 %	-	-	-	-
Bangladesh	0.8	8.3 %	0.0	0.2 %	0.0	0.1 %	-	-	-	-
Saudi Arabia	0.1	0.8 %	0.0	0.1 %	0.0	0 %	-	-	-	-
Hong Kong	0.0	0 %	0.0	0 %	-	-	-	-	-	-
Kenya	0.0	0.1 %	0.0	0 %	0.1	0.9 %	-	-	-	-
USA and African Countries	-	-	-	-	-	-	1.2	15.5 %	0.4	6.1 %
Other	-	-	-	-	0.0	0.1 %	-	-	-	-
Other Gulf Co-operation Council & South Asian countires	-	-	-	-	-	-	2.1	27.7 %	2.0	32.3 %
Segment Total	10.1	100 %	9.1	100 %	6.9	100 %	7.4	100 %	6.1	100 %
Consolidated Total	10.1	100 %	9.1	100 %	6.9	100 %	7.4	100 %	6.1	100 %
Exchange Rate: OMR to USD	0.385032		0.385008		0.384999		0.384956		0.384897
Total Revenue USD (mil)
	31-Dec-11		31-Dec-10		31-Dec-09		31-Dec-08		31-Dec-07
Oman	0.0	0.2 %	0.1	0.8 %	0.1	0.9 %	0.0	0.3 %	0.1	1.2 %
India	2.0	19.6 %	2.0	22.3 %	1.8	26 %	2.5	33.8 %	2.1	34.3 %
Pakistan	2.6	25.3 %	2.0	22.2 %	1.6	23.6 %	1.7	22.7 %	1.6	26.1 %
Turkey	1.4	14.2 %	1.8	19.8 %	1.3	19.4 %	-	-	-	-
United Arab Emirates	0.9	8.7 %	1.2	13.7 %	1.2	18 %	-	-	-	-
Jordan	1.4	13.8 %	1.2	13.6 %	0.3	4.1 %	-	-	-	-
Bahrain	0.9	8.4 %	0.6	6.7 %	0.5	6.7 %	-	-	-	-
Sri Lanka	0.0	0 %	0.0	0.4 %	0.0	0 %	-	-	-	-
Egypt	0.1	0.5 %	0.0	0.3 %	0.0	0 %	-	-	-	-
Bangladesh	0.8	8.3 %	0.0	0.2 %	0.0	0.1 %	-	-	-	-
Saudi Arabia	0.1	0.8 %	0.0	0.1 %	0.0	0 %	-	-	-	-
Hong Kong	0.0	0 %	0.0	0 %	-	-	-	-	-	-
Kenya	0.0	0.1 %	0.0	0 %	0.1	0.9 %	-	-	-	-
USA and African Countries	-	-	-	-	-	-	1.2	15.5 %	0.4	6.1 %
Other	-	-	-	-	0.0	0.1 %	-	-	-	-
Other Gulf Co-operation Council & South Asian countires	-	-	-	-	-	-	2.1	27.7 %	2.0	32.3 %
Segment Total	10.1	100 %	9.1	100 %	6.9	100 %	7.4	100 %	6.1	100 %
Consolidated Total	10.1	100 %	9.1	100 %	6.9	100 %	7.4	100 %	6.1	100 %
Exchange Rate: OMR to USD	0.385032		0.385008		0.384999		0.384956		0.384897

Total Assets USD (mil)
	31-Dec-09		31-Dec-08		31-Dec-07
Oman	0.1	4 %	0.1	3 %	0.1	6.4 %
India	0.3	14.2 %	0.4	17.1 %	0.3	16.4 %
Pakistan	0.5	21.5 %	0.4	16.9 %	0.3	17.1 %
USA and African Countries	0.0	1.4 %	0.0	1.7 %	0.1	6.1 %
Other Gulf Co-operation Council & South Asian countires	1.3	59 %	1.4	61.4 %	1.1	54 %
Segment Total	2.2	100 %	2.3	100 %	2.0	100 %
Consolidated Total	2.2	100 %	2.3	100 %	2.0	100 %
Exchange Rate: OMR to USD	0.384950		0.385050		0.385000

Geographic Segments

Financials in: As Reported (mil)

Interim

External Revenue USD (mil)
	31-Mar-12		31-Dec-11		30-Sep-11		31-Mar-11		31-Dec-10
Oman	0.0	0.1 %	0.0	0.3 %	0.0	0.3 %	0.0	0.1 %	0.0	0.2 %
India	0.3	12.3 %	0.6	21.7 %	0.9	18.2 %	0.5	20.3 %	0.5	19.9 %
Pakistan	0.7	29.3 %	0.7	25.4 %	1.2	23.1 %	0.7	29.8 %	0.5	19.3 %
Turkey	0.2	10.1 %	0.4	15.9 %	0.9	17.7 %	0.1	4.9 %	0.6	25.8 %
United Arab Emirates	0.1	5.5 %	0.2	8.1 %	0.3	6.6 %	0.3	13.7 %	0.2	7.3 %
Jordan	0.4	18 %	0.4	16.2 %	0.7	13.3 %	0.3	12.2 %	0.5	18.5 %
Bahrain	0.2	7.4 %	0.2	9 %	0.4	8.6 %	0.2	7.3 %	0.2	7.5 %
Sri Lanka	-	-	0.0	0.1 %	0.0	0 %	-	-	0.0	0 %
Egypt	-	-	0.0	0.7 %	0.0	0.7 %	-	-	0.0	0.9 %
Bangladesh	0.4	15.7 %	0.1	2.3 %	0.5	10.3 %	0.3	11.2 %	0.0	0.6 %
Saudi Arabia	-	-	0.0	0.4 %	0.1	1.3 %	-	-	0.0	0.1 %
Hong Kong	-	-	0.0	0 %	-	-	-	-	0.0	0.1 %
Kenya	-	-	0.0	0 %	0.0	0.3 %	0.0	0 %	0.0	0 %
Others	0.0	1.5 %	0.0	0 %	0.0	-0.3 %	0.0	0.5 %	0.0	-0.3 %
Segment Total	2.4	100 %	2.7	100 %	5.1	100 %	2.4	100 %	2.5	100 %
Consolidated Total	2.4	100 %	2.7	100 %	5.1	100 %	2.4	100 %	2.5	100 %
Exchange Rate: OMR to USD	0.385046		0.385019		0.385019		0.385072		0.385068
Total Revenue USD (mil)
	31-Mar-12		31-Dec-11		30-Sep-11		31-Mar-11		31-Dec-10
Oman	0.0	0.1 %	0.0	0.3 %	0.0	0.3 %	0.0	0.1 %	0.0	0.2 %
India	0.3	12.3 %	0.6	21.7 %	0.9	18.2 %	0.5	20.3 %	0.5	19.9 %
Pakistan	0.7	29.3 %	0.7	25.4 %	1.2	23.1 %	0.7	29.8 %	0.5	19.3 %
Turkey	0.2	10.1 %	0.4	15.9 %	0.9	17.7 %	0.1	4.9 %	0.6	25.8 %
United Arab Emirates	0.1	5.5 %	0.2	8.1 %	0.3	6.6 %	0.3	13.7 %	0.2	7.3 %
Jordan	0.4	18 %	0.4	16.2 %	0.7	13.3 %	0.3	12.2 %	0.5	18.5 %
Bahrain	0.2	7.4 %	0.2	9 %	0.4	8.6 %	0.2	7.3 %	0.2	7.5 %
Sri Lanka	-	-	0.0	0.1 %	0.0	0 %	-	-	0.0	0 %
Egypt	-	-	0.0	0.7 %	0.0	0.7 %	-	-	0.0	0.9 %
Bangladesh	0.4	15.7 %	0.1	2.3 %	0.5	10.3 %	0.3	11.2 %	0.0	0.6 %
Saudi Arabia	-	-	0.0	0.4 %	0.1	1.3 %	-	-	0.0	0.1 %
Hong Kong	-	-	0.0	0 %	-	-	-	-	0.0	0.1 %
Kenya	-	-	0.0	0 %	0.0	0.3 %	0.0	0 %	0.0	0 %
Others	0.0	1.5 %	0.0	0 %	0.0	-0.3 %	0.0	0.5 %	0.0	-0.3 %
Segment Total	2.4	100 %	2.7	100 %	5.1	100 %	2.4	100 %	2.5	100 %
Consolidated Total	2.4	100 %	2.7	100 %	5.1	100 %	2.4	100 %	2.5	100 %
Exchange Rate: OMR to USD	0.385046		0.385019		0.385019		0.385072		0.385068

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%)

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.