MIRA INFORM REPORT

Report Date :

10.11.2012

IDENTIFICATION DETAILS

Name :	TAT PETROLEUM PTE LTD
Formerly Known As :	Yishun Engineering Construction Pte Ltd
Registered Office :	9 Jalan Pesawat Singapore 619367
Country :	Singapore
Financials (as on) :	31.12.2011
Date of Incorporation :	15.02.1985
Com. Reg. No.:	198500411w
Legal Form :	Limited Private Company
Line of Business :	Manufacturer of refined petroleum products Repair and maintenance of motor vehicles
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba

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 :	Exists

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)
Singapore	A1	A1

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

Singapore - ECONOMIC OVERVIEW

Singapore has a highly developed and successful free-market economy. It enjoys a remarkably open and corruption-free environment, stable prices, and a per capita GDP higher than that of most developed countries. The economy depends heavily on exports, particularly in consumer electronics, information technology products, pharmaceuticals, and on a growing financial services sector. Real GDP growth averaged 8.6% between 2004 and 2007. The economy contracted 1.0% in 2009 as a result of the global financial crisis, but rebounded 14.8% in 2010 and 4.9% in 2011, on the strength of renewed exports. Over the longer term, the government hopes to establish a new growth path that focuses on raising productivity, which has sunk to a compound annual growth rate of just 1.8% in the last decade. Singapore has attracted major investments in pharmaceuticals and medical technology production and will continue efforts to establish Singapore as Southeast Asia's financial and high-tech hub.

Source : CIA

Company Name:	Registered Number:
TAT PETROLEUM PTE LTD	198500411W

Date Incorporated:	Registered Office:	Telephone Number:
15/02/1985	9 JALAN PESAWAT SINGAPORE 619367	6863 4633
Age of Company:	Website:	Industry Type:
27	www.tatco.com.sg	COMMERCE-WHOLESALE

Risk Dashboard
Days Beyond Terms	Trend:	No. of Litigation Counts:
Company DTC:		5
22
Better than last month;last month the entity took 16 days to pay		No. of Charges(s): 7
Industry DTC
25

Directors		Corporate Structure
Number of Current Directors	6	Holding Company:	SEE HUP SENG LIMITED
Number that are shareholders	1	No. of Subsidiaries & Associated Companies:	1

EXECUTIVE SUMMARY

Company Name	:	TAT PETROLEUM PTE LTD
Registration No	:	198500411W
Date of Registration	:	15/02/1985
Former Name	:	YISHUN ENGINEERING CONSTRUCTION PTE LTD Eff. date : 15/02/1985 Eff. date : 15/02/1985
Date of Change of Name	:	14/01/1988
Type of Company	:	LIMITED PRIVATE COMPANY
Registered Address	:	9 JALAN PESAWAT SINGAPORE 619367
Date of Change of Address	:	01/11/2006
Contact No.	:	6863 4633
Fax No.	:	6863 3113
Website	:	www.tatco.com.sg
Registered Activities	:	1. MANUFACTURE OF REFINED PETROLEUM PRODUCTS NEC 2. REPAIR AND MAINTENANCE OF MOTOR VEHICLES NEC
Issued Ordinary Capital*	:	$3,000,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 3,000,000
Issued Preference Capital	:	NA
Paid-Up Ordinary Capital	:	$3,000,000.00 SINGAPORE, DOLLARS
Paid-Up Preference Capital	:	NA
* Number of Shares includes number of Issued Treasury Shares
Issued Treasury Capital	:	NA
Paid-Up Treasury Capital	:	NA
No. of Local Subsidiaries	:	1
No. of Local Associates	:	NA
Auditor	:	MOORE STEPHENS LLP
Bankers / Financiers	:	DBS BANK LTD. UNITED OVERSEAS BANK LIMITED
Turnover	:	SGD - SIN 211,728,362.00 (FY2011)
Net Worth	:	SGD - SIN 28,612,198.00 (FY2011)
No. of Bank Charges	:	7
No. of Litigation Suits	:	5
S1000 / SME 1000 / FG50 Ranking	:	1268 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2010/2011) 1452 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2009/2010) 1086 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2008/2009) 534 POSITION IN Singapore 1000 Companies Ranked by Return on Equities (2008/2009) 540 POSITION IN Singapore 1000 Companies Ranked by Return on Equities (2007/2008)
Compounded Annual Growth Rate (CAGR)	:	31.25% (4 years)

SHAREHOLDER DETAILS

NAME	:	SEE HUP SENG LIMITED
SHAREHOLDER ID	:	197502208Z
NATIONALITY	:	SINGAPORE
ADDRESS	:	81 TUAS SOUTH STREET 5 SINGAPORE 637651
NO. OF ORD SHARES	:	3,000,000
% OF SHAREHOLDING	:	100%
CURRENCY	:	SINGAPORE, DOLLARS

OFFICER DETAILS

NAME	:	THOMAS LIM SIOK KWEE
ADDRESS	:	47 CARMICHAEL ROAD SINGAPORE 359827
POSITION	:	DIRECTOR
DATE OF APPT	:	20/08/2010
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S1003237G
NAME	:	TAN THOO CHYE
ADDRESS	:	8 CHERRY AVENUE EDEN PARK SINGAPORE 279862
POSITION	:	DIRECTOR
DATE OF APPT	:	15/02/1989
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S1391531H
NAME	:	ANG KENG BOON
ADDRESS	:	3 JALAN BANGAU SELETAR HILLS ESTATE SINGAPORE 809348
POSITION	:	DIRECTOR
DATE OF APPT	:	01/02/1988
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S1392219E
NAME	:	GOH KOON SENG
ADDRESS	:	11 HUME AVENUE #04-01 HUME PARK I SINGAPORE 598723
POSITION	:	DIRECTOR
DATE OF APPT	:	20/08/2010
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S1615860G
NAME	:	WEE WOON HONG
ADDRESS	:	75 KISMIS AVENUE CHENG SOON GARDEN SINGAPORE 598252
POSITION	:	SECRETARY
DATE OF APPT	:	20/08/2010
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S1681953J
NAME	:	CHAN HUAN YONG
ADDRESS	:	87 YUK TONG AVENUE MANDARIN PARK SINGAPORE 596391
POSITION	:	DIRECTOR
DATE OF APPT	:	20/08/2010
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S1815057C
NAME	:	LAU CHU TING
ADDRESS	:	24 NEW UPPER CHANGI ROAD #03-608 SINGAPORE 461024
POSITION	:	SECRETARY
DATE OF APPT	:	20/08/2010
NATIONALITY	:	SINGAPORE P.R.
I/C PASSPORT	:	S7080884F
NAME	:	FONG WEI SEONG
ADDRESS	:	33 JURONG WEST STREET 41 #02-49 SINGAPORE 649413
POSITION	:	DIRECTOR
DATE OF APPT	:	20/08/2010
NATIONALITY	:	SINGAPORE P.R.
I/C PASSPORT	:	S7580699Z

KEY PERSONNEL PROFILE

Name:	ANG KENG BOON
NRIC Number:	S1392219E
Available Address:	3 JALAN BANGAU SELETAR HILLS ESTATE SINGAPORE 809348

Current Business Interest

No.	Name	Position	Appt Date	#of Share	%
1	TAT PETROLEUM PTE LTD	DIRECTOR	01/02/1988	-	-

Previous Business

No.		Name		Status		Position		Appt Date		Last Known Inactive Date
1		ABYSS SCUBA INTERNATIONAL PTE LTD		STRUCK OFF		DIRECTOR		18/01/1994		09/09/2008
2		AVENUE TRADING		TERMINATION		OWNER		18/04/1988		-
3		AVENUE TRADING PRIVATE LIMITED		STRUCK OFF		DIRECTOR		06/05/1992		-
4		AVENUE TRADING PRIVATE LIMITED		STRUCK OFF		SHAREHOLDER		-		-
5		AXXMO INTERNATIONAL PTE LTD		LIVE COMPANY		DIRECTOR		16/04/1993		05/09/2012
6		AXXMO INTERNATIONAL PTE LTD		LIVE COMPANY		SECRETARY		01/11/2005		05/09/2012
7		AXXMO INTERNATIONAL PTE LTD		LIVE COMPANY		SHAREHOLDER		-		05/09/2012
8		EE HUP CONSTRUCTION PTE LTD		LIVE COMPANY		DIRECTOR		23/02/1981		08/11/2012
9		EE TIONG TRADING COMPANY		TERMINATION		OWNER		05/05/1983		-
10		K B ANG CONSTRUCTION COMPANY		TERMINATION		MANAGER		08/09/1983		-
11		K B ANG CONSTRUCTION COMPANY		TERMINATION		OWNER		08/09/1983		-
12		RESOURCES PETROLEUM PTE LTD		LIVE COMPANY		DIRECTOR		26/03/1994		25/07/2012
13		RESOURCES PETROLEUM PTE LTD		LIVE COMPANY		SHAREHOLDER		-		25/07/2012
14		SINGAPORE SUPPORT AND LOGISTICS PTE. LTD.		STRUCK OFF		DIRECTOR		12/06/2000		-
15	SINGAPORE SUPPORT AND LOGISTICS PTE. LTD.		STRUCK OFF		SECRETARY		03/11/2006		-
16	SINGAPORE SUPPORT AND LOGISTICS PTE. LTD.		STRUCK OFF		SHAREHOLDER		-		-
17	SYNTHESIS CHEMICAL PTE. LTD.		STRUCK OFF		DIRECTOR		03/02/1994		17/04/2009
18	SYNTHESIS CHEMICAL PTE. LTD.		STRUCK OFF		SECRETARY		01/08/2004		17/04/2009
19	SYNTHESIS CHEMICAL PTE. LTD.		STRUCK OFF		SHAREHOLDER		-		17/04/2009
20	TAC LAND INVESTMENT PTE LTD		STRUCK OFF		DIRECTOR		03/08/1993		-
21	TAC LAND INVESTMENT PTE LTD		STRUCK OFF		MANAGING DIRECTOR		31/01/1994		-
22	TAC LAND INVESTMENT PTE LTD		STRUCK OFF		SHAREHOLDER		-		-
23	TAT PETROLEUM (S) PTE. LTD.		LIVE COMPANY		DIRECTOR		22/09/2008		16/10/2012
24	TAT PETROLEUM CO		TERMINATION		MANAGER		18/05/1984		-
25	TAT PETROLEUM CO		TERMINATION		OWNER		18/05/1984		-
26	TAT PETROLEUM PTE LTD		LIVE COMPANY		MANAGING DIRECTOR		30/09/1989		23/10/2012
27	TAT PETROLEUM PTE LTD		LIVE COMPANY		SECRETARY		23/01/2006		23/10/2012
28	TAT PETROLEUM PTE LTD		LIVE COMPANY		SHAREHOLDER		-		23/10/2012

Bankruptcy Record

Case No.	Year	Date of Filing	Petitioner Name	Amount
No Trace

Litigation Search – Writ of Summons

Court	Case No.	Transfer	Year	Date of Filing	Amount	Cause Category
No Trace

SUBSIDIARIES AND ASSOCIATE COMPANIES

Company	Shareholdings (%)
TAT PETROLEUM (S) PTE. LTD.	100

BANKERS/ FINANCIERS

Subject enjoys a normal banking routine with its bankers. To date, there have been 7 bank charges registered against Subject by its bankers. The charge numbers are:

1)	Charge No.	:	C201200618
	Date of Registration	:	13/01/2012
	Chargee	:	DBS BANK LTD.
	Amount Secured and Currency	:	All Monies
	Address	:	6 SHENTON WAY, DBS BUILDING TOWER ONE SINGAPORE 068809
2)	Charge No.	:	C200810241
	Date of Registration	:	11/11/2008
	Chargee	:	DBS BANK LTD.
	Amount Secured and Currency	:	All Monies
	Address	:	6 SHENTON WAY, DBS BUILDING TOWER ONE SINGAPORE 068809
3)	Charge No.	:	C200604254
	Date of Registration	:	30/06/2006
	Chargee	:	UNITED OVERSEAS BANK LIMITED
	Amount Secured and Currency	:	All Monies
	Address	:	80 RAFFLES PLACE UOB PLAZA SINGAPORE 048624
4)	Charge No.	:	C200604056
	Date of Registration	:	22/06/2006
	Chargee	:	UNITED OVERSEAS BANK LIMITED
	Amount Secured and Currency	:	All Monies
	Address	:	80 RAFFLES PLACE UOB PLAZA SINGAPORE 048624
5)	Charge No.	:	C200503100
	Date of Registration	:	01/06/2005
	Chargee	:	UNITED OVERSEAS BANK LIMITED
	Amount Secured and Currency	:	All Monies
	Address	:	80 RAFFLES PLACE UOB PLAZA SINGAPORE 048624
6)	Charge No.	:	C200502868
	Date of Registration	:	18/05/2005
	Chargee	:	UNITED OVERSEAS BANK LIMITED
	Amount Secured and Currency	:	All Monies
	Address	:	80 RAFFLES PLACE UOB PLAZA SINGAPORE 048624
7)	Charge No.	:	200102425
	Date of Registration	:	30/05/2001
	Chargee	:	UNITED OVERSEAS BANK LIMITED
	Amount Secured and Currency	:	All Monies
	Address	:	80 RAFFLES PLACE UOB PLAZA SINGAPORE 048624

LITIGATION

there have been 5 litigation suits filed against Subject.

	Current Year On/After 01 Jan 2012	Past Years Bef 01 Jan 2012
Court (Claim under normal circumstances)
Magistrate (< $80,000)	0	5
District ($80,000 - $250,000)	0	0
High (>$250,000)	0	0
Winding Up Trace		No
In litigation/Dissolved/Struck Off/In receivership		No

The details are as follows:

1)	Court	:	Magistrate Court
	Case No.	:	11766
	Transfer	:	-
	Date of Filing	:	08/05/2010
	Amount	:	8,333.60
	Cause	:	Tort - Negligence (Motor Accidents Without Death/ Injury)
	Case Status	:	PENDING
	Plaintiff	:	HELLENIC OVERSEAS MARITIME ENTERPRISES PTE LTD
	Last Update Date	:	10/05/2010
2)	Court	:	Magistrate Court
	Case No.	:	30806
	Transfer	:	-
	Date of Filing	:	21/12/2004
	Amount	:	1,900.00
	Cause	:	Tort - Negligence (Motor Accidents Without Death/ Injury)
	Case Status	:	CONCLUDED
	Plaintiff	:	TAN HWEE THUANG LEE POH NGUAN
	Last Update Date	:	11/01/2008
3)	Court	:	Magistrate Court
	Case No.	:	4129
	Transfer	:	-
	Date of Filing	:	20/04/2000
	Amount	:	12,013.40
	Cause	:	Negligence - Motor Accidents (Not Injuries / Death)
	Case Status	:	CONCLUDED
	Plaintiff	:	WONG SOON MENG
	Last Update Date	:	11/01/2008
4)	Court	:	Magistrate Court
	Case No.	:	24297
	Transfer	:	-
	Date of Filing	:	06/12/1997
	Amount	:	0.00
	Cause	:	Negligence - Motor Accidents (Not Injuries / Death)
	Case Status	:	CONCLUDED
	Plaintiff	:	HOCK YEW TRADING PTE LTD
	Last Update Date	:	11/01/2008
5)	Court	:	Magistrate Court
	Case No.	:	11977
	Transfer	:	-
	Date of Filing	:	03/08/1994
	Amount	:	8,384.00
	Cause	:	Negligence - Motor Accidents (Not Injuries / Death)
	Case Status	:	CONCLUDED
	Plaintiff	:	FOO KONG NAM
	Last Update Date	:	11/01/2008

COMPLIANCE

Date of Last AGM	:	13/06/2012
Date of Last AR	:	15/06/2012
Date of A/C Laid At Last AGM	:	31/12/2011

COMPLIANCE RATING FOR ANNUAL FILING

ANNUAL GENERAL MEETING,ANNUAL RETURN AND ACCOUNTS UP-TO-DATE

Note:

Provided by ACRA (Accounting and Corporate Regulatory Authority), the Compliance Rating for Annual Filing measures a company’s compliance with the provisions under S175, S197 or S201 of the Companies Act, Cap. 50.

Applicable to all “Live” locally incorporated companies except for the Limited Partnerships, Limited Liability Partnerships, Business Entities, Foreign Companies and Public Accounting Firms, the rating provide information on whether a company is up-to-date with the holding of its Annual General Meeting (AGM) with up-to-date financial statements and filing of its Annual Return (AR).

For more information: www.acra.gov.sg/compliance

FINANCIAL HIGHLIGHTS

Financial Figures	Group
	DEC 2011	% Change	DEC 2010	DEC 2009	DEC 2008	DEC 2007
Currency	SGD - SIN		SGD - SIN	SGD - SIN	SGD - SIN	SGD - SIN
Profit and Loss Key Figures
Turnover	211,728,362	28.83	164,346,456	126,569,159	150,950,542	71,343,238
Profit/(Loss) Before Tax	6,759,108	-15.16	7,966,963	4,400,170	8,046,956	2,734,801
Profit After Tax attributable to Shareholders	5,435,235	-20.24	6,814,624	3,666,892	6,249,431	2,418,149
Balance Sheet Key Figures
Total Assets	104,342,854	34.32	77,682,362	73,795,515	63,584,492	55,346,191
Current Assets	91,006,863	39.44	65,266,889	60,722,012	50,620,109	40,918,088
Non Current Assets	13,335,991	7.41	12,415,473	13,073,503	12,964,383	14,428,103
Total Liabilities	75,730,656	40.29	53,980,990	55,401,988	49,014,495	44,898,829
Current Liabilities	74,358,178	48.08	50,214,191	48,719,237	44,279,170	38,809,566
Non Current Liabilities	1,372,478	-63.56	3,766,799	6,682,751	4,735,325	6,089,263
Shareholders' Funds	28,612,198	20.72	23,701,372	18,393,527	14,569,997	10,447,362
Share Capital	3,000,000	0.00	3,000,000	3,000,000	3,000,000	3,000,000
Total Reserves	25,612,198	23.72	20,701,372	15,393,527	11,569,997	7,447,362

FINANCIAL RATIOS

	Group
	DEC 2011	DEC 2010	DEC 2009	DEC 2008	DEC 2007
Growth %
Year-on-Year Growth	28.83	29.85	-16.15	111.58	NA
Profitability
Profit Margin (%)	2.57	4.15	2.90	4.14	3.39
Return on Equity (%)	19.00	28.75	19.94	42.89	23.15
Return on Assets (%)	5.21	8.77	4.97	9.83	4.37
Leverage
Total Debt/Equity (Times)	2.65	2.28	3.01	3.36	4.30
Current Debt/Equity (Times)	2.60	2.12	2.65	3.04	3.71
Long Term Debt To Equity (Times)	0.05	0.16	0.36	0.33	0.58
Total Asset To Total Equity (Times)	3.65	3.28	4.01	4.36	5.30
Asset Management
Total Assets Turnover (Times)	2.03	2.12	1.72	2.37	1.29
Fixed Assets Turnover (Times)	15.88	13.24	9.68	11.64	4.94
Liquidity
Current Ratio (Times)	1.22	1.30	1.25	1.14	1.05

FINANCIAL HIGHLIGHTS

Financial Figures	Company
	DEC 2011	% Change	DEC 2010	DEC 2009	DEC 2008	DEC 2007
Currency	SINGAPORE, DOLLARS		SINGAPORE, DOLLARS	SINGAPORE, DOLLARS	SINGAPORE, DOLLARS	SINGAPORE, DOLLARS
Profit and Loss Key Figures
Turnover	*	NA	0	0	0	0
Profit/(Loss) Before Tax	*	NA	0	0	0	0
Profit After Tax attributable to Shareholders	*	NA	0	0	0	0
Balance Sheet Key Figures
Total Assets	97,158,015	35.90	71,490,719	68,230,053	60,977,566	54,919,791
Current Assets	80,290,567	45.76	55,084,130	55,562,819	45,069,278	40,371,682
Non Current Assets	16,867,448	2.81	16,406,589	12,667,234	15,908,288	14,548,109
Total Liabilities	72,633,829	43.00	50,794,132	52,323,197	47,902,364	44,236,477
Current Liabilities	71,261,351	51.53	47,027,333	45,640,446	43,167,039	38,155,373
Non Current Liabilities	1,372,478	-63.56	3,766,799	6,682,751	4,735,325	6,081,104
Shareholders' Funds	24,524,186	18.49	20,696,587	15,906,856	13,075,202	10,683,314
Share Capital	3,000,000	0.00	3,000,000	3,000,000	3,000,000	3,000,000
Total Reserves	21,524,186	21.63	17,696,587	12,906,856	10,075,202	7,683,314

* As per Companies Act, section 201 Accounts, Consolidated accounts and directors report, sub-section 3A.

FINANCIAL RATIOS

	Company
	DEC 2011	DEC 2010	DEC 2009	DEC 2008	DEC 2007
Growth %
Year-on-Year Growth	NA	NA	NA	NA	NA
Profitability
Profit Margin (%)	0.00	0.00	0.00	0.00	0.00
Return on Equity (%)	0.00	0.00	0.00	0.00	0.00
Return on Assets (%)	0.00	0.00	0.00	0.00	0.00
Leverage
Total Debt/Equity (Times)	2.96	2.45	3.29	3.66	4.14
Current Debt/Equity (Times)	2.91	2.27	2.87	3.30	3.57
Long Term Debt To Equity (Times)	0.06	0.18	0.42	0.36	0.57
Total Asset To Total Equity (Times)	3.96	3.45	4.29	4.66	5.14
Asset Management
Total Assets Turnover (Times)	0.00	0.00	0.00	0.00	0.00
Fixed Assets Turnover (Times)	0.00	0.00	0.00	0.00	0.00
Liquidity
Current Ratio (Times)	1.13	1.17	1.22	1.04	1.06

FINANCIAL COMMENTARY

Compound Annual Growth Rate

The company's CAGR is 31.25% (4 years).

CAGR is the year-over-year growth rate of a company over a specified period. Instead of looking at the average growth rate, CAGR allow users to look at the annualized growth rate of a company over a given period, a more indicative measure of growth of a company’s performance over a given period.

Profitability

The group yielded a rate of net profit on sales of 2.57 per cent in FY11 (FY10: 4.15 per cent). The group is now able to book in SGD - SIN 0.03 of profit for every SGD - SIN of sales in FY11, as compared with SGD - SIN 0.04 a year ago.

Liquidity

Current ratio stood at 1.22 times in FY11 (FY10: 1.30 times). This means that the group has SGD - SIN 1.22 of current assets for every SGD - SIN of current liability incurred.

A minimum figure of 1.0 would be considered the lowest limit that this figure should reach. Any business that has a current ratio near 1.0 may be heading for liquidity problems, and would need to be closely monitored. A figure greater than 2.0 would be more desirable, to act as a buffer against any short-term liquidity problems, and give creditors/bank managers a degree of comfort when granting credit/finance.

Leverage

Total debt-to-equity ratio notched 2.65 times in FY11, compared with 2.28 times in FY10. This means that the group requires additional external financing of SGD - SIN 2.65 for every SGD - SIN injected into its operations.

Generally, a total debt-to-equity ratio of less than 0.5 times is preferred. The ratio measures the proportion of the company's reliance on external debt for financing, relative to the shareholder's fund. A lower ratio would imply a greater financial safety and operating freedom for the company.

Efficiency Ratio

Return on equity was 19.00 per cent for Subject in the current financial period, as compared to 28.75 per cent a year ago. The return on equity measures the return earned on the owner's investment. Generally, the higher this return, the better off the owner.

Return on assets stood at 5.21 per cent (FY10: 8.77 per cent). The return on asset measures the overall effectiveness of management in generating profit with its available assets.

Total assets turnover ratio logged at 2.03 times in FY11 (FY10: 2.12 times). This ratio measures the group's ability to make productive use of its total assets to generate sales which reflects the efficiency of the management in utilising its resources.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.54.34
UK Pound	1	Rs.86.97
Euro	1	Rs.69.43

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.

s