MIRA INFORM REPORT

Report Date :

22.04.2013

IDENTIFICATION DETAILS

Name :	ZIACHEM (PTY) LTD

Registered Office :	Office 15, Business Centre, 2 Ncondo Place,Ridgeside, Umhlanga, 4319, Kwazulu-Natal,P. o. Box 370, Maidstone, 4380

Country :	South Africa

Date of Incorporation :	16.05.2012

Com. Reg. No.:	2012/085875/07 South Africa

Legal Form :	Limited Corporation

Line of Business :	Import, export of commodity, speciality and performance chemicals

No. of Employees :	10 employees.

RATING & COMMENTS

MIRA’s Rating :

RATING

STATUS

PROPOSED CREDIT LINE

New Business

Status :	New Company
Payment Behaviour :	Unknown
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)

South Africa

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

SOUTH AFRICA - ECONOMIC OVERVIEW

South Africa is a middle-income, emerging market with an abundant supply of natural resources; well-developed financial, legal, communications, energy, and transport sectors and a stock exchange that is the 15th largest in the world. Even though the country possesses modern infrastructure that support a relatively efficient distribution of goods to major urban centers throughout the region, some components retard growth. The economy began to slow in the second half of 2007 due to an electicity crisis. State power supplier Eskom encountered problems with aging plants and meeting electricity demand necessitating "load-shedding" cuts in 2007 and 2008 to residents and businesses in the major cities. Subsequently, the global financial crisis reduced commodity prices and world demand. GDP fell nearly 2% in 2009 but has recovered since then. Unemployment, poverty, and inequality remain a challenge, with official unemployment at nearly 25% of the work force. State power supplier Eskom has built two new power stations and installed new power demand management programs to improve power grid reliability. South Africa's economic policy has focused on controlling inflation, however, the country has had significant budget deficits that restrict its ability to deal with pressing economic problems. The current government faces growing pressure from special interest groups to use state-owned enterprises to deliver basic services to low-income areas and to increase job growth.

Source : CIA

SUBJECT'S NAME

Registered Name: ZIACHEM (PTY) LTD

Requested Name: ZIACHEM

Other Names: None

ADDRESS AND TELECOMMUNICATION

Physical Address: Office 15, Business Centre, 2 Ncondo Place,Ridgeside, Umhlanga, 4319, Kwazulu-Natal,

Postal Address: P. o. Box 370, Maidstone, 4380,

Country: South Africa

Phone: 27-11-0518975

Fax: 27-865458855

Email: procurement@ziachem.com/ info@ziachem.com

Website: www.ziachem.com

CREDIT OPINION

Financial Index as of December 2013 shows subject firm with a medium risk of credit.

LEGAL

Legal Form: Limited Corporation

Date Incorporated: 16/05/2012

Reg. Number: 2012/085875/07 South Africa

Nominal Capital ZAR. 1,000

Subscribed Capital ZAR. 1,000

Subscribed Capital is Subscribed in the following form:

Position Shares

Farah Ally Director

M J Adam Manager

DIRECTORS INFORMATION

Full Names FARAH ALLY

Status Active

Profession Director

Country of residence South Africa

Full Names M J ADAM

Status Active

Profession Manager

Country of residence South Africa

RELATED COMPANIES

None Parent company.

None Subsidiary company.

None Affiliated company.

None Shareholder of subject firm.

1st Floor, 7 Lakeview Crescent Klipfontein Office Park, Pioneer drive, Benoni, Johannesburg Branches of the firm

OPERATIONS

Registered to operate import, export of commodity, speciality and performance chemicals

Imports: Asia

Exports: Southern Africa

Trademarks: None

Terms of sale: Cash (40%) and 25-90 days (60%), invoices.

Main Customers: Industries,firms and organizations

Employees: 10 employees.

Vehicles: Several motor vehicles.

Territory of sales: South Africa

Location: Rented premises, 500 square feet,

AUDITORS AND INSURANCE

Auditors: Information not available.

Insurance Brokers: Information not available.

FINANCE

Currency Reported: South African Rand (ZAR.)

Approx. Ex. Rate: 1 US Dollar = 9.17 South African Rand

Projected Fiscal Year End: December 31, 2013

Projected Inflation: According to information given by independent sources, the inflation at December 31st, 2013 was of 13%.

Financial Information not Submitted

Projected Profit and Loss (expressed in ZAR.)

2013

Projected Sales 18,000,000

BANK

Bank Name: NEDBANK

Branch: South Africa

Comments: None

TRADE REFERENCES

Experiences: Good

NOTARIAL BONDS

None

COMMENTS / ADDITIONAL INFORMATION

This information was obtained from outside sources other than the subject company itself and confirmed the above subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.54.03
UK Pound	1	Rs.82.43
Euro	1	Rs.70.49

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%)

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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.