MIRA INFORM REPORT

Report Date :

16.11.2012

IDENTIFICATION DETAILS

Name :	TEYSEER INDUSTRIAL SUPPLIES & SERVICES CO WLL (TISSCO)

Registered Office :	Al Wakalat Street, Salwa Industrial Area, Gate No 55, P O Box 40523, Doha

Country :	Qatar

Financials (as on) :	31.12.2011

Date of Incorporation :	06.07.1999

Com. Reg. No.:	21697, Doha

Legal Form :	With Limited Liability

Line of Business :	Distributors of electro mechanical equipment & health & safety products

No. of Employees :	60

RATING & COMMENTS

MIRA’s Rating :

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 :	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)

Qatar

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

qatar - ECONOMIC OVERVIEW

Qatar has prospered in the last several years with continued high real GDP growth in 2011. Qatari authorities throughout the financial crisis sought to protect the local banking sector with direct investments into domestic banks. GDP rebounded in 2010 largely due to the increase in oil prices and 2011's growth was supported by Qatar's investment in expanding its gas sector. Economic policy is focused on developing Qatar's nonassociated natural gas reserves and increasing private and foreign investment in non-energy sectors, but oil and gas still account for more than 50% of GDP, roughly 85% of export earnings, and 70% of government revenues. Oil and gas likely have made Qatar the second highest per-capita income country - behind Liechtenstein - and the country with the lowest unemployment. Proved oil reserves in excess of 25 billion barrels should enable continued output at current levels for 57 years. Qatar's proved reserves of natural gas exceed 25 trillion cubic meters, more than 13% of the world total and third largest in the world. Qatar's successful 2022 world cup bid will likely accelerate large-scale infrastructure projects such as Qatar's metro system and the Qatar-Bahrain causeway.

Source : CIA

SUMMARY

Company Name : TEYSEER INDUSTRIAL SUPPLIES & SERVICES CO WLL (TISSCO)

Country of Origin : Qatar

Legal Form : With Limited Liability - WLL

Registration Date : 6^th July 1999

Commercial Registration Number : 21697, Doha

Membership Number : 4896/1

Issued Capital : QR 4,000,000

Paid up Capital : QR 4,000,000

Total Workforce : 60

Activities : Distributors of electro mechanical equipment & health & safety

products.

Financial Condition : Fair

Payments : Nothing detrimental uncovered

Operating Trend : Steady

COMPANY NAME

TEYSEER INDUSTRIAL SUPPLIES & SERVICES CO WLL (TISSCO)

company ADDRESS

Registered & Physical Address

Street : Al Wakalat Street

Area : Salwa Industrial Area, Gate No 55

PO Box : 40523

Town : Doha

Country : Qatar

Telephone : (974) 44602298 / 44601146 / 44585400 / 44585555 / 44585455

Facsimile : (974) 44602297

Email : tissco@qatar.net.qa / tissco@tissco-qatar.com

Premises

Subject operates from a medium sized suite of offices, a warehouse and a workshop that are owned and located in the Industrial Area of Doha.

KEY PRINCIPALS

Name Position

· Abdul Rahman Issa Al Mannai Managing Director

· Mohammed Abdul Rahman Issa Al Mannai Director

· Adnan Abdul Rahman Issa Al Mannai Director

· Khalid Abdul Rahman Issa Al Mannai Director

· Adil Abdul Rahman Issa Al Mannai Director

· Khalifa Abdul Rahman Issa Al Mannai Director

· Abdullah Abdul Rahman Issa Al Mannai Director

· Chako Mathew General Manager

· V A Yonas Finance Manager

· Ibrahim Biri Senior Sales Manager

· Thomas Mathew Marketing Manager

LEGAL FORM & OWNERS

Date of Establishment : 6^th July 1999

Legal Form : With Limited Liability - WLL

Commercial Reg. No. : 21697, Doha

Membership No. : 4896/1

Issued Capital : QR 4,000,000

Paid up Capital : QR 4,000,000

Name of Shareholder (s)

· Abdul Rahman Issa Al Mannai

· Mohammed Abdul Rahman Issa Al Mannai

· Adnan Abdul Rahman Issa Al Mannai

· Khalid Abdul Rahman Issa Al Mannai

· Adil Abdul Rahman Issa Al Mannai

· Khalifa Abdul Rahman Issa Al Mannai

· Abdullah Abdul Rahman Issa Al Mannai

· Al Teyseer Trading & Contracting Co

Airport Road

PO Box: 1556

Doha

Tel: (974) 44622226 / 44410673 / 44621344

AFFILIATED COMPANIES

Subject is a member of the Teyseer Group of Companies, which includes the following concerns:

· Teyseer Building Materials & Transport Company WLL

PO Box: 4333

Doha

Tel: (974) 44601583

Fax: (974) 44601456

· Teyseer Motors Company WLL

Airport Road

PO Box: 1556

Doha

Tel: (974) 44622226

Fax: (974) 44621993

· Teyseer Service Centre

PO Box: 8991

Doha

Tel: (974) 44884277

· Computer Arabia

PO Box: 2750

Doha

Tel: (974) 44428555

· Gulf Incon

PO Box: 4076

Doha

Tel: (974) 44884064

· Teyseer Airconditioning & Refrigeration Co

PO Box: 1556

Doha

Tel: (974) 44321441

· Qatar Plant Hire

PO Box: 6074

Doha

Tel: (974) 44415657

· Peninsula Petrotech Engineering Co

PO Box: 4533

Doha

Tel: (974) 44432044

· Gulf Glass Fibre

PO Box: 4076

Doha

Tel: (974) 44884061

· Dutest Qatar WLL

PO Box: 1556

Doha

Tel: (974) 44601266

Fax (974) 44601445

· Teyseer Services Co

PO Box: 1556

Doha

Tel: (974) 44428505

· CCM Services

Electricity Street

PO Box: 1738

Doha

Tel: (974) 44321440 / 44321441

OPERATIONS

Activities: Engaged in the import and distribution of electro mechanical equipment, including industrial consumables, safety and security products, machinery, health & safety products, tools and fluid transfer components (such as hoses, fittings, valves, gauges, filters) and electrical supplies.

Subject also operates a technical service centre, comprising a workshop offering maintenance, repair and general after sales services.

The company is ISO 9001 accredited.

Import Countries: Japan, Malaysia, Europe and the United States of America

International Suppliers:

· Clipsal Dubai, UAE

· Lanric Malaysia

Operating Trend: Steady

Subject has a workforce of 60 employees.

FINANCIAL DATA

Financial highlights provided by local sources are given below:

Currency: Qatari Riyals (QR)

Year Ending 31/12/10 Year Ending 31/12/11:

Total Sales QR 33,825,000 QR 35,000,000

Local sources consider subject’s financial condition to be Fair.

The above financial figures are based on estimations by our local sources.

BANKERS

· Qatar National Bank SAQ

PO Box: 1002

Doha

Tel: (974) 44413511 / 44407407

Fax: (974) 44415020

· Banque Paribas

PO Box: 2636

Doha

Tel: (974) 44430346 / 44430344

Fax: (974) 44430121

· ANZ Grindlays Bank Plc

Rayyan Road

PO Box: 2001

Doha

Tel: (974) 44418222

Fax: (974) 44428077

PAYMENT HISTORY

No complaints regarding subject’s payments have been reported.

Date of transaction June 2006 April 2007

Amount overdue 0 0

Payment terms 90 days 60 days

Payment Method Letters of Credit Letters of Credit

Paying record No Complaints No Complaints

Currency Pounds Sterling US Dollars

GENERAL COMMENTS

Local sources report that payment obligations are met in a generally timely manner and the operating history is clear. As such the company is deemed a fair trade risk.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.54.93
UK Pound	1	Rs.87.38
Euro	1	Rs.69.93

INFORMATION DETAILS

Report Prepared by :

PDT

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
----	NB	New Business	----

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.