MIRA INFORM REPORT

Report Date :

08.11.2012

IDENTIFICATION DETAILS

Name :	HUMAIRA NAEEM, SUMAIRA NAEEM, RANA AMIR FAROOQ UND MOHAMMED YAGUB NAEEM
Registered Office :	Hochstr. 57-59, D 41379 Brüggen
Country :	Germany
Year of Establishment :	1985
Com. Reg. No.:	Not Available
Legal Form :	Partnership under the Civil Code
Line of Business :	Wholesaler of leather goods, luggage, giftware and advertising articles
No. of Employees :	06 employees

RATING & COMMENTS

MIRA’s Rating :

B

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

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 – June 30^th, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
Germany	A1	A1

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

germany - ECONOMIC OVERVIEW

The German economy - the fifth largest economy in the world in PPP terms and Europe's largest - is a leading exporter of machinery, vehicles, chemicals, and household equipment and benefits from a highly skilled labor force. Like its Western European neighbors, Germany faces significant demographic challenges to sustained long-term growth. Low fertility rates and declining net immigration are increasing pressure on the country's social welfare system and necessitate structural reforms. Reforms launched by the government of Chancellor Gerhard SCHROEDER (1998-2005), deemed necessary to address chronically high unemployment and low average growth, contributed to strong growth in 2006 and 2007 and falling unemployment. These advances, as well as a government subsidized, reduced working hour scheme, help explain the relatively modest increase in unemployment during the 2008-09 recession - the deepest since World War II - and its decrease to 6.0% in 2011. GDP contracted 5.1% in 2009 but grew by 3.6% in 2010, and 2.7% in 2011. The recovery was attributable primarily to rebounding manufacturing orders and exports - increasingly outside the Euro Zone. Germany's central bank projects that GDP will grow 0.6% in 2012, a reflection of the worsening euro-zone financial crisis and the financial burden it places on Germany as well as falling demand for German exports. Domestic demand is therefore becoming a more significant driver of Germany's economic expansion. Stimulus and stabilization efforts initiated in 2008 and 2009 and tax cuts introduced in Chancellor Angela MERKEL's second term increased Germany's budget deficit to 3.3% in 2010, but slower spending and higher tax revenues reduce the deficit to 1.7% in 2011, below the EU's 3% limit. A constitutional amendment approved in 2009 limits the federal government to structural deficits of no more than 0.35% of GDP per annum as of 2016. Following the March 2011 Fukushima nuclear disaster, Chancellor Angela Merkel announced in May 2011 that eight of the country's 17 nuclear reactors would be shut down immediately and the remaining plants would close by 2022. Germany hopes to replace nuclear power with renewable energy. Before the shutdown of the eight reactors, Germany relied on nuclear power for 23% of its energy and 46% of its base-load electrical production.

Source : CIA

Company name

Humaira Naeem, Sumaira Naeem, Rana Amir Farooq und Mohammed Yagub Naeem

Company address

Hochstr. 57-59

D 41379 Brüggen

Telephone: 02163/58904

Telefax: 02163/58906

Homepage: www.naeem.de

E-mail: info@naeem.de

Trade name

Naeem-Lederwarenimport GbR

VAT no

DE813968641

CONCLUSION

Business relations are permissible.

Synthesis

LEGAL FORM Partnership under the Civil Code

Date of foundation: 1985

General partner

Mohammed Yaqub Naeem

Hochstr. 57-59

D 41379 Brüggen

born: 15.03.1945

Profession: Businessman

Nationality: Pakistani

Marital status: married

General partner:

Sumaira Naeem

RC - -

Profession: Businessman

Nationality: Chinese

General partner:

Rana Amir Farooq

PAK - -

Profession: Businessman

Nationality: Pakistani

General partner:

Humaira Naeem

D 41379 Brüggen

Profession: Businessman

Further functions/participations of Sumaira Naeem (General partner)

General partner:

Sumaira Naeem, Volker Brueggen

Pauluskirchstr. 13

D 53757 Sankt Augustin

Legal form: Partnership under the Civil Code

General partner:

Sumaira Naeem und Yaqub Naeem

Hochstr. 57-59

D 41379 Brüggen

Legal form: Partnership under the Civil Code

COMPANY HISTORY

10.1984 - 2003 Mohammed Yagub Naeem

Hochstr. 57-59

D 41379 Brüggen

Unregistered commercial enterprise

BUSINESS ACTIVITIES

Sectors

46493 Wholesale of leather goods, luggage, giftware and advertising articles

FINANCIAL INFORMATION

Payment experience: without complaints

Negative information: We have no negative information at hand.

REAL ESTATE

Type of ownership: Tenant

Address Hochstr. 57-59

D 41379 Brüggen

Real Estate of: Mohammed Yaqub Naeem

Type of ownership: Tenant

Address Hochstr. 57-59

D 41379 Brüggen

Land register documents were not available.

BANKERS

SPARKASSE KREFELD, KREFELD

Sort. code: 32050000, BIC: SPKRDE33XXX

FINANCIAL FIGURES

Financial year: 01.01. - 31.12.

Turnover: 2010 EUR 840,000.00

2011 EUR 850,000.00

further business figures:

Equipment: EUR 30,000.00

Employees: 6

The aforementioned business figures may partly be estimated information based on average values in the line of business.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.54.25
UK Pound	1	Rs.87.00
Euro	1	Rs.69.83

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.