MIRA INFORM REPORT

Report Date :

05.02.2013

IDENTIFICATION DETAILS

Name :	VENTA. LTD, LLC
Registered Office :	3-A Selyanskiy Uzviz, Dnipropetrovsk, Dnipropetrovsk region, 49005
Country :	Ukraine
Financials (as on) :	30.06.2012
Date of Incorporation :	12.01.1995
Com. Reg. No.:	21947206
Legal Form :	TOV (Limited Liability Company by Ukrainian Law)
Line of Business :	Wholesale of pharmaceutical goods
No. of Employees :	500

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 :	Exist

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)
Ukraine	B2	B2

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

UKRAINE - ECONOMIC OVERVIEW

After Russia, the Ukrainian republic was the most important economic component of the former Soviet Union, producing about four times the output of the next-ranking republic. Its fertile black soil generated more than one-fourth of Soviet agricultural output, and its farms provided substantial quantities of meat, milk, grain, and vegetables to other republics. Likewise, its diversified heavy industry supplied the unique equipment (for example, large diameter pipes) and raw materials to industrial and mining sites (vertical drilling apparatus) in other regions of the former USSR. Shortly after independence in August 1991, the Ukrainian Government liberalized most prices and erected a legal framework for privatization, but widespread resistance to reform within the government and the legislature soon stalled reform efforts and led to some backtracking. Output by 1999 had fallen to less than 40% of the 1991 level. Ukraine's dependence on Russia for energy supplies and the lack of significant structural reform have made the Ukrainian economy vulnerable to external shocks. Ukraine depends on imports to meet about three-fourths of its annual oil and natural gas requirements and 100% of its nuclear fuel needs. After a two-week dispute that saw gas supplies cutoff to Europe, Ukraine agreed to 10-year gas supply and transit contracts with Russia in January 2009 that brought gas prices to "world" levels. The strict terms of the contracts have further hobbled Ukraine's cash-strapped state gas company, Naftohaz. Outside institutions - particularly the IMF - have encouraged Ukraine to quicken the pace and scope of reforms. Ukrainian Government officials eliminated most tax and customs privileges in a March 2005 budget law, bringing more economic activity out of Ukraine's large shadow economy, but more improvements are needed, including fighting corruption, developing capital markets, and improving the legislative framework. Ukraine's economy was buoyant despite political turmoil between the prime minister and president until mid-2008. Real GDP growth exceeded 7% in 2006-07, fueled by high global prices for steel - Ukraine's top export - and by strong domestic consumption, spurred by rising pensions and wages. A drop in steel prices and Ukraine's exposure to the global financial crisis due to aggressive foreign borrowing lowered growth in 2008. Ukraine reached an agreement with the IMF for a $16.4 billion Stand-By Arrangement in November 2008 to deal with the economic crisis, but the program quickly stalled due to the Ukrainian Government's lack of progress in implementing reforms. The economy contracted nearly 15% in 2009, among the worst economic performances in the world. In April 2010, Ukraine negotiated a price discount on Russian gas imports in exchange for extending Russia's lease on its naval base in Crimea. In August 2010, Ukraine, under the YANUKOVYCH Administration, reached a new agreement with the IMF for a $15.1 billion Stand-By Agreement. Economic growth resumed in 2010 and 2011, buoyed by exports, but slowed in 2012. After initial disbursements, the IMF program stalled in early 2011 due to the Ukrainian Government's lack of progress in implementing key gas sector reforms, namely gas tariff increases.

Source : CIA

Identification

Full Name

:

Tovarystvo z Obmezhenoyu Vidpovidalnistyu VENTA. LTD

Name in English

:

VENTA. LTD, LLC

Name in national language

:

Товариство з Обмеженою Відповідальністю ВЕНТА. ЛТД

Previous Names

:

-

VENTA

Office Address

:

3-A Selyanskiy Uzviz, Dnipropetrovsk, Dnipropetrovsk region, 49005, Ukraine

Russian transliteration: 3-A Krestyanskiy Spusk

Legal Address

:

3-A Selyanskiy Uzviz, Dnipropetrovsk, Dnipropetrovsk region, 49005, Ukraine

Other Addresses

:

Previous legal address.

8 Mironova str., apt. 26, Dnipropetrovsk, Dnipropetrovsk region, 49070, Ukraine

( the data cancelled since 03.09.2010 )

Contacts

:

-	Phone/fax	:	(+38 056) 3703500
-	E-mail	:	secretar@ventaltd.com.ua
-	WWW	:	www.ventaltd.com.ua

SUMMARY

Legal Form : TOV (Limited Liability Company by Ukrainian Law)

Incorporation : 1995

Staff : 500

Litigation events : n/a Remarks on payments : n/a

Sales :	1 159 093.00 th UAH ( for 6 months, ended 30.06.2012 )
	1 942 584.00 th UAH ( for 12 months, ended 31.12.2011 )

Incorporation

:

1995

Registration Data

Date of registration

:

12.01.1995

Registration number

:

21947206

Registr. authority

:

Local Executive Committee (Dnipropetrovsk, Dnipropetrovsk region, Ukraine)

VAT number

:

219472004024

Registr. place

:

Ukraine

Number of VAT-certificate: 100302551 Date of issue: 30.09.2010

Legal Form

:

TOV (Limited Liability Company by Ukrainian Law)

since 12.01.1995

Share Capital

:

12 927 UAH (registered)

since 03.03.2011

Shareholders

:

-	Katren, JSC (Russian Federation)				90.00 %
		share's book value	:	11 634 UAH
-	Mr Voloshyn, Aleksandr Nikolaevich (Ukraine)				4.00 %
		share's book value	:	517 UAH
		reg. number	:	2549500132
-	Mr Murilo, Boris Markusovich (Ukraine)				3.00 %
		share's book value	:	388 UAH
		reg. number	:	2418507836
-	Mr Arzamastsev, Denis Vladimirovich (Ukraine)				3.00 %
		share's book value	:	388 UAH
		reg. number	:	2498900276

Board / Executives

Executives

Director

:

Mr Voloshyn, Aleksandr Nikolaevich (Ukraine)
	pers. code: 2549500132
	address: 7 Chekmaryova str., apt. 13, Dnipropetrovsk, Dnipropetrovsk region, Ukraine

Authorised signature

:

Mr Voloshyn, Aleksandr Nikolaevich

Changes in Registration Data

- 03.03.2011

:

share capital

- 03.09.2010

:

legal address

- 25.04.2006

:

name, share capital

- 01.07.1998

:

share capital

- 31.05.1995

:

share capital

Activities

:

-	5122	Drugs & Drug Proprietaries
		(NACE 5146: Wholesale of pharmaceutical goods)
-	591	Drug Stores and Proprietary Stores
		(NACE 5230: Retail sale of pharmaceutical and medical goods, cosmetic and toilet articles)

Wholesale of drugs/pharmaceuticals preparats.

Staff employed

:

500 [E]

Staff History

:

-	541
	( the data as of 05.11.2012 )
-	500 [E]
	( the data as of 22.06.2012 )
-	550 [E]
	( the data as of 25.01.2012 )
-	550 [E]
	( the data as of 04.08.2011 )
-	500 [E]
	( the data as of 23.02.2011 )
-	500 [E]
	( the data as of 14.06.2010 )
-	490
	Official data.
	( the data as of 31.03.2010 )
-	500 [E]
	( the data as of 19.03.2010 )
-	490
	( the data as of 31.12.2009 )
-	450 [E]
	( the data as of 17.11.2009 )
-	Company's administration data:
	450 [E]
	( the data as of 23.04.2009 )
-	Official data:
	425
	( the data as of 31.12.2007 )
-	Official data:
	418
	( the data as of 01.01.2007 )

Export

:

none

Import

- 01.11.2012

:

Fiscal period: 10 month(s), currency: UAH

2 836 349 435.00

Hungary, Netherlands, Switzerland, Austria, Slovenia

- 01.05.2011

:

Fiscal period: 4 month(s), currency: UAH

292 657 648.00

Germany, Finland, Belgium, Switzerland, Cyprus

- 01.01.2011

:

Fiscal period: 12 month(s), currency: UAH

673 081 581.00

United States of America, Belgium, Bulgaria, India, Austria, Germany, Switzerland

Facilities

Real estate

:

rent:
-	Premises - Office
	size/amnt	:	1 174.00 sq.m
	address	:	3-A Selyanskiy Uzviz, Dnipropetrovsk, Dnipropetrovsk region, 49005, Ukraine

Subsidiaries and Participation

:

none

Bankers

:

-	OTP Bank (Ukraine)
	bank code	:	307071
	account(s)	:	26009001307258 EUR, UAH, USD
-	PUMB (Ukraine)
	bank code	:	305813
	account(s)	:	26008900697017 UAH, USD, EUR
-	Privatbank (Ukraine)
	bank code	:	305299
	account(s)	:	26000060091977 UAH
-	Raiffeisen Bank Aval (Ukraine)
	bank code	:	305653
	account(s)	:	26008243540100 UAH, EUR, USD, RUB
-	VTB Bank (Ukraine)
	bank code	:	321767
	account(s)	:	26005010087343 UAH, EUR, USD

Suppliers

:

-	ASTELLAS PHARMA EUROPE B.V. (Netherlands)
-	Abbott Products Operations AG (Switzerland)
-	Chemical Works of Gedeon Richter Plc. (Hungary)
-	HERBS TRADING GmbH (Austria)
-	KRKA, tovarna zdravil, d.d. (Slovenia)

Litigation

:

According to the data of Bulletin of the State Registration as of 30.01.2013, there are no bankruptcy registered in the name of the subject company.

Generally in the DB of the Unified State Register of the Legal Judgements data there have been traced 120 court where the subject company is filed as a defendant, co-defendant, claimant and co-claimant in the period from 24.07.2006 up to 11.12.2012. There are no bankruptcy/insolvency records filed.

Remarks on payment

:

No official information is available according to the Ukrainian legislation.

Financial Elements

Period, months	6	12	12
Ended	30.06.2012	31.12.2011	31.12.2010
Currency	UAH th	UAH th	UAH th
Comments	*)	**)	***)
===== BALANCE SHEET ====================
--- A S S E T S --------------------
NON-CURRENT ASSETS
- Intangible assets	3 153.00	3 003.00
- Fixed assets	13 286.00	12 466.00	6 689.00
- Investments in tangible assets
- Financial assets	0.00	0.00	0.00
- Other non-current assets	1 402.00	1 402.00
Non-current assets total	17 841.00	16 871.00	13 447.00
CURRENT ASSETS
- Stock	466 785.00	491 275.00	251 700.00
- Debtors	180 300.00	164 884.00	106 128.00
- Other receivables	902.00	1 201.00
- Short-term financial investments	0.00	0.00
- Cash	17 920.00	4 243.00	8 960.00
- Other current assets	4 072.00	3 733.00
Current assets total	669 979.00	665 336.00	369 188.00
Assets total	687 820.00	682 207.00	382 635.00
--- EQUITY AND LIABILITIES ---------
CAPITAL AND RESERVES
- Share capital	13.00	13.00	13.00
- Additional capital	0.00	0.00
- Other capital	0.00	0.00
- Reserve capital	3.00	3.00
- Retained earnings (Non-covered loss)	11 605.00	25 917.00
Capital and reserves total	11 621.00	25 933.00	25 167.00
Provisions	3 688.00	2 953.00
LONG-TERM LIABILITIES
- Loans and credits	0.00	0.00
- long-term amounts owed to banks	0.00	0.00
- Other long-term liabilities	0.00	0.00
Long-term liabilities total	0.00	0.00	0.00
SHORT-TERM LIABILITIES
- Loans and credits	38 768.00	26 990.00
- short-term amounts owed to banks	38 768.00	26 990.00
- Creditors	630 651.00	622 230.00
- trade debts	627 512.00	619 339.00
- accrued payroll	1 397.00	1 360.00
- tax liabilities	1 742.00	1 531.00
- other creditors
- advances received	0.00	0.00
- Dividends in arrears
- Accrued income, deferred charges	0.00	0.00
- Other short-term liabilities	3 092.00	4 101.00
Short-term liabilities total	672 511.00	653 321.00	355 770.00
Liabilities total	672 511.00	653 321.00	355 770.00
Equity and liabilities total	687 820.00	682 207.00	382 635.00
===== PROFIT AND LOSS ACCOUNT ==========
ORDINARY ACTIVITY INCOME AND CHARGES
Net sales	1 159 093.00	1 942 584.00	1 377 858.00
Cost of goods sold	1 164 075.00	1 930 761.00	1 347 564.00
Gross profit	-4 982.00	11 823.00
Distribution costs	37 564.00	46 635.00
Administrative and management costs	13 090.00	34 348.00
Profit on sales
OPERATING INCOME AND CHARGES
Interest receivable
Interest payable
Income from participating interests	0.00	0.00
Other operating income	90 601.00	119 669.00
Other operating charges	19 858.00	31 643.00
Operating profit			21 363.00
INVESTMENT INCOME AND CHARGES
Investment income less charges	-3 576.00	-4 688.00
Profit before taxation	11 531.00	14 178.00	11 793.00
Income-tax and other similar payments	3 038.00	6 136.00
Profit (loss) from ordinary activity
Extraordinary income less charges	0.00	0.00
Net profit	8 493.00	8 042.00	10 438.00
- - - - - - - KEY RATIOS - - - - - - -
Return on sales, %	0.99	0.73	0.86
Profit before taxation / Net sales
Operating margin of profit, %			1.55
Operating profit / Net sales
Return on investment, %	99.23	54.67	46.86
Profit before taxation / Equity
Current assets turnover	1.73	2.92	3.73
Net sales / Current assets
Working capital	-2 532.00	12 015.00	13 418.00
Current assets - Short-term liabilities
Leverage	0.02	0.04	0.07
Equity / Total assets
Current ratio	1.00	1.02	1.04
Current assets / Short-term liabilities
Quick ratio	0.30	0.27	0.33
(Current assets - Stock) / Short-term liabilities
Debt-to-equity ratio	57.87	25.19	14.14
Total liabilities / Equity

*)

Financial data, provided by the company's administration, correspond to the offi

cial financial information.

**)

Financial data, provided by the company's administration, correspond to the offi

cial financial information.

***)

Financial data, provided by the company's administration, correspond to the offi

cial financial information.

The company is registered as a taxpayer at the State Tax Administration.

Auditor: KPMG Audit 11 Myhaylivska str., Kyiv, 01001, Ukraine +38 044 4905507, 4905508

FINAL COMMENTS

The information given in this report was collected from all the sources accessible. We contacted Mrs Antonyuk Natalya (administrator) on 30.01.2013 by the tel. number: +38 056 3703500. She confirmed the general information about the Company. We sent the letter of inquiry to the Company by the e-mail: secretar@ventaltd.com.ua, but there was no reply received by now. If we receive additional information we will inform you at once. Registration file does not contain information about A/c 26006001307258, OTP Bank mentioned in your order.
Capital History
- 25.04.2006	:	12 926 UAH (registered)
		( the data as of 25.04.2006, cancelled since 03.03.2011 )
- 01.07.1998	:	375 UAH (registered)
		( the data as of 01.07.1998, cancelled since 25.04.2006 )
- 31.05.1995	:	3 000 UAH (registered)
		( the data as of 31.05.1995, cancelled since 01.07.1998 )

APPENDIX A

Financial Statements

Period, months	6	12	12
Ended	30.06.2012	31.12.2011	31.12.2010
Currency	UAH th	UAH th	UAH th
PROFIT AND LOSS ACCOUNT (s)
010 Sales revenue (Income from sales of goods, work,	1 180 583.00	1 976 563.00
services
015 VAT tax	14 893.00	26 247.00
020 Excise tax	0.00	0.00
025
030 Other compulsory payments	6 597.00	7 732.00
035 Net sales revenue	1 159 093.00	1 942 584.00
040 Cost of goods, work, services	1 164 075.00	1 930 761.00
045 Total production costs	0.00
050 Gross profit	0.00	11 823.00
055 Gross loss	4 982.00	0.00
060 Other operating income	90 601.00	119 669.00
070 Administrative and management costs	13 090.00	34 348.00
080 Distribution costs	37 564.00	46 635.00
090 Other operating charges	19 839.00	31 606.00
100 Operating profit	15 126.00	18 903.00
105 Operating loss	0.00	0.00
110 Income from capital participating	0.00	0.00
120 Other financial income	273.00	276.00
130 Other income	0.00	0.00
140 Financial charges	3 849.00	4 964.00
150 Capital participating expenses	0.00	0.00
160 Other expenses	19.00	37.00
170 Profit from ordinary activity before taxation	11 531.00	14 178.00
175 Loss from ordinary activity before taxation	0.00	0.00
180 Ordinary activity Income-tax	3 038.00	6 136.00
190 Profit from ordinary activity	8 493.00	8 042.00
195 Loss from ordinary activity	0.00	0.00
200 Extraordinary income	0.00	0.00
205 Extraordinary charges	0.00	0.00
210 Extraordinary activity Income-Tax	0.00	0.00
220 Net profit	8 493.00	8 042.00
225 Net loss	0.00	0.00
Operating charges details:
230 Tangible expenses	1 262.00	2 222.00
240 Payroll costs	18 236.00	32 537.00
250 Allocation to social needs	5 991.00	8 121.00
260 Amortization charges	2 649.00	5 668.00
270 Other operating charges	40 155.00	64 041.00
280 Operating charges total	68 293.00	112 589.00
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
BALANCE SHEET
ASSETS
I. NON-CURRENT ASSETS
Intangible assets
010 residual value	3 153.00	3 003.00
011 acquisition cost	6 143.00	5 475.00
012 depreciation	2 990.00	2 472.00
020 Construction in progress	6 253.00	5 751.00
Fixed assets
030 residual value	7 033.00	6 715.00
031 acquisition cost	23 003.00	20 556.00
032 depreciation	15 970.00	13 841.00
Long-term biological assets
035 residual value	0.00
036 acquisition cost	0.00
037 depreciation	0.00
Long-term financial assets
040 Capital participation in other enterprises	0.00	0.00
045 Other financial investments	0.00	0.00
050 Long-term accounts receivable	0.00	0.00
060 Deferred tax assets	1 402.00	1 402.00
070 Other non-current assets	0.00	0.00
080 NON-CURRENT ASSETS TOTAL	17 841.00	16 871.00
II. CURRENT ASSETS
Stock
100 Raw materials, consumables and supplies	51.00	179.00
110 Current biological assets	0.00	0.00
120 Work in progress	0.00	0.00
130 Finished goods	0.00	0.00
140 Goods for resale	466 734.00	491 096.00
150 Bills of exchange receivable	0.00	0.00
Trade debtors:
160 net realizable value	178 086.00	163 665.00
161 acquisition cost	178 086.00	163 665.00
162 doubtful debts reserve	0.00	0.00
Accounts receivable
170 Budget accounts receivable	140.00	62.00
180 Payments in advance	2 214.00	1 219.00
190 Accrued income	0.00	0.00
200 Internal payments	0.00	0.00
210 Other current accounts receivable	762.00	1 139.00
220 Current financial investments	0.00	0.00
Cash at bank and on hands
230 Funds in local currency	17 715.00	3 900.00
231 incl. cash on hands	0.00
240 Funds in foreign currencies	205.00	343.00
250 Other current assets	4 072.00	3 733.00
260 CURRENT ASSETS TOTAL	669 979.00	665 336.00
270 III. DEFERRED CHARGES	0.00	0.00
280 ASSETS TOTAL	687 820.00	682 207.00
EQUITY AND LIABILITIES
I. CAPITAL AND RESERVES
300 Authorized capital	13.00	13.00
310 Share capital	0.00	0.00
320 Additional contributed capital	0.00	0.00
330 Other additional capital	0.00	0.00
340 Reserve capital	3.00	3.00
350 Retained earnings (loss)	11 605.00	25 917.00
360 Unpaid capital (minus)	0.00	0.00
370 Retired capital (minus)	0.00	0.00
380 CAPITAL AND RESERVES TOTAL	11 621.00	25 933.00
II. PROVISIONS OF EXPENSES AND
LIABILITIES
400 Provisions of payments to personnel	1 819.00	1 220.00
410 Other provisions	0.00	0.00
415 Insurance reserves	0.00	0.00
416 portion covered by insurers	0.00	0.00
420 Targeted funding	1 869.00	1 733.00
430 PROVISIONS OF EXPENSES AND	3 688.00	2 953.00
LIABILITIES TOTAL
III. LONG-TERM LIABILITIES
440 Long-term amounts owed to credit institutions	0.00	0.00
450 Other financial liabilities	0.00	0.00
460 Deferred tax liabilities	0.00	0.00
470 Other long-term liabilities	0.00	0.00
480 TOTAL LONG-TERM LIABILITIES	0.00	0.00
IV. SHORT-TERM LIABILITIES
500 Short-term amounts owed to credit institutions	38 768.00	26 990.00
510 Short-term portion of long-term liabilities	0.00	0.00
520 Bills of exchange payable	0.00	0.00
530 Trade creditors	627 512.00	619 339.00
Accounts payable:
540 Advance payments	0.00	0.00
550 Budget accounts payable	1 314.00	1 531.00
560 Non-budget accounts payable	0.00	0.00
570 Insurance payments	428.00	0.00
580 Accrued payroll	1 397.00	1 360.00
590 Liabilities to shareholders	0.00	0.00
600 Internal payments	0.00	0.00
610 Other short-term liabilities	3 092.00	4 101.00
620 SHORT-TERM LIABILITIES TOTAL	672 511.00	653 321.00
630 V. DEFERRED INCOME	0.00	0.00
640 EQUITY AND LIABILITIES TOTAL	687 820.00	682 207.00

- 31.12.2010

:

Fiscal period: 12 month(s), currency: UAH, th
PROFIT AND LOSS ACCOUNT (s)
010 Sales revenue (Income from sales of goods, work,	1 377 858.00
services
015 VAT tax	14 098.00
020 Excise tax	0.00
025
030 Other compulsory payments	1 754.00
035 Net sales revenue	1 362 006.00
040 Cost of goods, work, services	1 347 564.00
050 Gross profit	14 442.00
055 Gross loss	0.00
060 Other operating income	106 628.00
070 Administrative and management costs	29 871.00
080 Distribution costs	39 079.00
090 Other operating charges	30 757.00
100 Operating profit	21 363.00
105 Operating loss	0.00
110 Income from capital participating	0.00
120 Other financial income	0.00
130 Other income	0.00
140 Financial charges	9 424.00
150 Capital participating expenses	0.00
160 Other expenses	146.00
170 Profit from ordinary activity before taxation	11 793.00
175 Loss from ordinary activity before taxation	0.00
180 Ordinary activity Income-tax	1 355.00
190 Profit from ordinary activity	10 438.00
195 Loss from ordinary activity	0.00
200 Extraordinary income	0.00
205 Extraordinary charges	0.00
210 Extraordinary activity Income-Tax	0.00
220 Net profit	10 438.00
225 Net loss	0.00
Operating charges details:
230 Tangible expenses	5 932.00
240 Payroll costs	11 870.00
250 Allocation to social needs	4 869.00
260 Amortization charges	4 444.00
270 Other operating charges	71 893.00
280 Operating charges total	99 008.00
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
BALANCE SHEET
ASSETS
I. NON-CURRENT ASSETS
Intangible assets
010 residual value	4 049.00
011 acquisition cost	5 455.00
012 depreciation	1 406.00
020 Construction in progress	731.00
Fixed assets
030 residual assets	5 958.00
031 acquisition cost	16 394.00
032 depreciation	10 436.00
Long-term financial assets
040 Capital participation in other enterprises	0.00
045 Other financial investments	0.00
050 Long-term accounts receivable	0.00
060 Deferred tax charges	2 709.00
070 Other non-current assets	0.00
080 NON-CURRENT ASSETS TOTAL	13 447.00
II. CURRENT ASSETS
Stock
100 Raw materials, consumables and supplies	84.00
110 Working and productive animals	0.00
120 Construction in progress	0.00
130 Finished goods	0.00
140 Goods for resale	251 616.00
150 Bills of exchange receivable	0.00
Trade debtors:
160 net realizable value	102 956.00
161 acquisition cost	106 810.00
162 doubtful debts reserve	3 854.00
Accounts receivable
170 Budget accounts receivable	67.00
180 Payments in advance	1 960.00
190 Accrued income	0.00
200 Internal payments	0.00
210 Other current accounts receivable	1 145.00
220 Current financial investments	0.00
Cash at bank and in hand
230 Funds in local currency	8 883.00
240 Funds in foreign currencies	77.00
250 Other current assets	2 400.00
260 CURRENT ASSETS TOTAL	369 188.00
270 III. DEFERRED CHARGES	0.00
280 ASSETS TOTAL	382 635.00
EQUITY AND LIABILITIES
I. CAPITAL AND RESERVES
300 Authorized capital	13.00
310 Share capital	0.00
320 Additional contributed capital	0.00
330 Other additional capital	0.00
340 Reserve capital	0.00
350 Retained earnings (loss)	25 154.00
360 Unpaid capital (minus)	0.00
370 Retired capital (minus)	0.00
380 CAPITAL AND RESERVES TOTAL	25 167.00
II. PROVISIONS FOR EXPENSES AND
LIABILITIES
400 Provisions for payments to personnel	860.00
410 Other provisions	0.00
415 Insurance reserves	0.00
416 portion covered by insurers	0.00
420 Special-purpose funding	838.00
430 PROVISIONS FOR EXPENSES AND	1 698.00
LIABILITIES TOTAL
III. LONG-TERM LIABILITIES
440 Long-term amounts owed to credit institutions	0.00
450 Other financial liabilities	0.00
460 Deferred tax liabilities	0.00
470 Other long-term liabilities	0.00
480 TOTAL LONG-TERM LIABILITIES	0.00
IV. SHORT-TERM LIABILITIES
500 Short-term amounts owed to credit institutions	7 092.00
510 Short-term portion of long-term liabilities	0.00
520 Bills of exchange payable	0.00
530 Trade creditors	341 923.00
Accounts payable:
540 Advance payments	0.00
550 Budget accounts payable	872.00
560 Non-budget accounts payable	0.00
570 Insurance payments	575.00
580 Accrued payroll	749.00
590 Liabilities to shareholders	0.00
600 Internal payments	0.00
610 Other short-term liabilities	4 559.00
620 SHORT-TERM LIABILITIES TOTAL	355 770.00
630 V. DEFERRED INCOME	0.00
640 EQUITY AND LIABILITIES TOTAL	382 635.00

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.52.97
UK Pound	1	Rs.83.17
Euro	1	Rs.72.20

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.