MIRA INFORM REPORT

Report Date :

23.10.2012

IDENTIFICATION DETAILS

Name :	NEHA AGRICORP PTE. LTD.
Registered Office :	1 North Bridge Road #19-04/05 High Street Centre Singapore 179094
Country :	Singapore
Financials (as on) :	30.06.2010
Date of Incorporation :	17.02.2010
Com. Reg. No.:	201003519R
Legal Form :	Limited Private Company
Line of Business :	Extension Services (Including Agricultural Research And Experimentation)
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ca

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate
Payment Behaviour :	Slow but correct
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 (31.03.2011)	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:
NEHA AGRICORP PTE. LTD.	201003519R

Date Incorporated:	Registered Office:	Telephone Number:
17/02/2010	1 NORTH BRIDGE ROAD #19-04/05 HIGH STREET CENTRE SINGAPORE 179094	NA
Age of Company:	Website:	Industry Type:
2	NA	NA

Risk Dashboard
Days Beyond Terms	Trend:	No. of Litigation Counts:
Company DTC:		NA
NA
The entity is paying current to the creditors		No. of Charges(s): 0
Industry DTC
36 Days

Directors		Corporate Structure
Number of Current Directors	2	Holding Company:	NEHA INTERNATIONAL LIMITED
Number that are shareholders	1	No. of Subsidiaries & Associated Companies:	NA

Executive Summary

Company Name	:	Neha Agricorp Pte. Ltd.
Registration No	:	201003519R
Date of Registration	:	17/02/2010
Former Name	:	NA
Date of Change of Name	:	NA
Type of Company	:	Limited Private Company
Registered Address	:	1 NORTH BRIDGE ROAD #19-04/05 HIGH STREET CENTRE SINGAPORE 179094
Date of Change of Address	:	17/02/2010
Contact No.	:	NA
Fax No.	:	NA
Website	:	NA
Registered Activities	:	1. Extension Services (Including Agricultural Research And Experimentation) 2. Other Investment Holding Companies
Issued Ordinary Capital*	:	$10.00 SINGAPORE, DOLLARS NO. OF SHARE : 10 $22,186,922.00 U.S. DOLLAR NO. OF SHARE : 22,186,922
Issued Preference Capital	:	NA
Paid-Up Ordinary Capital	:	$22,186,922.00 U.S. DOLLAR $10.00 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	:	NA
No. of Local Associates	:	NA
Auditor	:	Natarajan & Swaminathan
Bankers / Financiers	:	NA
Turnover	:	$0.00 (FY2010)
Net Worth	:	$(11,451.00) (FY2010)
No. of Bank Charges	:	NA
No. of Litigation Suits	:	NA
S1000 / SME 1000 / FG50 Ranking	:	No found for SINGAPORE 1000 and SME 1000

SHAREHOLDER DETAILS

NAME	:	NEHA INTERNATIONAL LIMITED
SHAREHOLDER ID	:	T10UF0443L
NATIONALITY	:	INDIA
ADDRESS	:	NO. 6-3-1090/A/12&13, 501, MANBHUM JADE TOWERS RAJBHAVAN ROAD, HYDERABAD, INDIA 500082
NO. OF ORD SHARES	:	10 22,186,922
% OF SHAREHOLDING	:	100%
CURRENCY	:	SINGAPORE, DOLLARS U.S. DOLLAR

OFFICER DETAILS

NAME	:	VINOD REDDY GADDAM
ADDRESS	:	FLAT NO. 506, LUMBINI MAJESTIC APTS, H. NO. 6-3-661, KAPADIA LANE, SOMAJIGUDA, HYDERABAD 500082, AP
POSITION	:	DIRECTOR
DATE OF APPT	:	17/02/2010
NATIONALITY	:	INDIAN
I/C PASSPORT	:	H5772771
NAME	:	VANGAL RANGARAJAN RANGANATHAN
ADDRESS	:	207 SERANGOON CENTRAL #11-198 SINGAPORE 550207
POSITION	:	DIRECTOR SECRETARY
DATE OF APPT	:	17/02/2010 17/02/2010
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S2662860A

KEY PERSONNEL PROFILE

Name:	VINOD REDDY GADDAM
NRIC Number:	H5772771
Available Address:	FLAT NO. 506, LUMBINI MAJESTIC APTS, H. NO. 6-3-661, KAPADIA LANE, SOMAJIGUDA, HYDERABAD 500082, AP

Current Business Interest

No.	Name	Position	Appt Date	#of Share	%
1	NEHA AGRICORP PTE. LTD.	DIRECTOR	17/02/2010	-	NA
2	NEHA AGRISERVICES PTE. LTD.	DIRECTOR	17/02/2010	-	NA

Previous Business

No.	Name	Status	Position	Appt Date	Last Known Inactive Date
No Trace

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 IN S’PORE

Company	Shareholdings (%)
NA

BANKERS/ FINANCIERS

Subject enjoys a normal banking routine with its bankers. To date, there are no bank charges registered against Subject by its bankers.

LITIGATION

Clear

COMPLIANCE

Date of Last AGM	:	30/12/2010
Date of Last AR	:	04/01/2011
Date of A/C Laid at Last AGM	:	30/06/2010

COMPLIANCE RATING FOR ANNUAL FILING

ANNUAL GENERAL MEETING,ANNUAL RETURN OR ACCOUNTS LATE

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

	Group
FINANCIAL YEAR	17/02/2010 to 30/06/2010 SGD - SIN
Turnover	0
Profit Before Tax and Minority Interest	(20,241)
Profit After Tax and Minority Interest	(20,241)
ASSETS
Current Assets	592,288
Non-current Assets	2,449,940
- Fixed Assets	2,449,940
- Intangible Assets	0
- Long-term Investments	0
Total Assets	3,042,228
LIABILITIES
Current Liabilities	3,053,678
Long-Term Liabilities	0
Total Liabilities	3,053,678
SHAREHOLDERS’ FUNDS
Share Capital	10
Share Premium	0
Retained Earnings	(20,241)
Minority Interest	103
Other Reserves	8,677
Shareholders Funds	(11,451)

FINANCIAL RATIOS

	Group
FINANCIAL YEAR END	17/02/2010 to 30/06/2010
PROFITABILITY
Rate of Net Profit (%)	NA
Return on Equity (%)	176.76
Return on Assets (%)	-0.67
Return on Capital Employed	1.77
DEBT MANAGEMENT
Total Liabilities/Equity (times)	-266.67
Current Liabilities/Equity (times)	-266.67
Long Term Liability/Equity (times)	0.00
Debt Service Cover Ratio	NA
Short-term Borrowings-to-cash Ratio	NA
EFFICIENCY MANAGEMENT
Total Assets Turnover (times)	0.00
Fixed Assets Turnover (times)	0.00
Interest Coverage Ratio	NA
Average Payment Period (days)	NA
LIQUIDITY MANAGEMENT
Current Ratio (times)	0.19
Quick Ratio (times)	0.09
Average Collection Period (days)	NA

FINANCIAL COMMENTARY

Profitability

We are unable to comment on Subject's profitability as Subject is making losses for the financial year end in review.

Liquidity

Current ratio stood at 0.19 times in FY10. This means that the company has $0.19 of current assets for every dollar of current liability incurred. Subject's current ratio is noted to be lower than the industry norm for the sector in which the company is operating.

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.

FINANCIAL COMMENTARY

Leverage

We are unable to comment on Subject's leverage as Subject is making losses for the financial year in review.

Efficiency Ratio

Return on equity was 176.76 per cent for Subject in the current financial period. The return on equity measures the return earned on the owner's investment. Generally, the higher this return, the better off the owner.

We are unable to comment on Subject's return on assets.

We are unable to comment on Subject's total assets turnover ratio.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.53.67
UK Pound	1	Rs.86.05
Euro	1	Rs.70.07

INFORMATION DETAILS

Report Prepared by :

PRL

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.