MIRA INFORM REPORT

Report Date :

28.01.2013

IDENTIFICATION DETAILS

Name :	ZAKRYTOE AKTSYONERNOE OBSCHESTVO "ORIMI TREYD"
Registered Office :	Tobol'skaya str., 3, St.-Petersburg, 194044,
Country :	Russian Federation
Financials (as on) :	01.01.2012
Date of Incorporation :	23.12.2002
Com. Reg. No.:	1027802514541
Legal Form :	Private Joint Stock Company by Russian Law
Line of Business :	Manufacture and sales of tea and coffee.
No. of Employees :	200 (approx.)

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 :	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)
Russia	A2	A2

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

russia - ECONOMIC OVERVIEW

Russia has undergone significant changes since the collapse of the Soviet Union, moving from a globally-isolated, centrally-planned economy to a more market-based and globally-integrated economy. Economic reforms in the 1990s privatized most industry, with notable exceptions in the energy and defense-related sectors. The protection of property rights is still weak and the private sector remains subject to heavy state interference. Russian industry is primarily split between globally-competitive commodity producers. In 2011, Russia became the world's leading oil producer, surpassing Saudi Arabia; Russia is the second-largest producer of natural gas; Russia holds the world's largest natural gas reserves, the second-largest coal reserves, and the eighth-largest crude oil reserves. Russia is the third-largest exporter of both steel and primary aluminum. Other less competitive heavy industries remain dependent on the Russian domestic market. Russia's reliance on commodity exports makes it vulnerable to boom and bust cycles that follow the highly volatile swings in global commodity prices. The government since 2007 has embarked on an ambitious program to reduce this dependency and build up the country's high technology sectors, but with few results so far. The economy had averaged 7% growth in the decade following the 1998 Russian financial crisis, resulting in a doubling of real disposable incomes and the emergence of a middle class. The Russian economy, however, was one of the hardest hit by the 2008-09 global economic crisis as oil prices plummeted and the foreign credits that Russian banks and firms relied on dried up. According to the World Bank the government's anti-crisis package in 2008-09 amounted to roughly 6.7% of GDP. The Central Bank of Russia spent one-third of its $600 billion international reserves, the world's third largest, in late 2008 to slow the devaluation of the ruble. The government also devoted $200 billion in a rescue plan to increase liquidity in the banking sector and aid Russian firms unable to roll over large foreign debts coming due. The economic decline bottomed out in mid-2009 and the economy began to grow in the third quarter of 2009. However, a severe drought and fires in central Russia reduced agricultural output, prompting a ban on grain exports for part of the year, and slowed growth in other sectors such as manufacturing and retail trade. High oil prices buoyed Russian growth in 2011 and helped Russia reduce the budget deficit inherited from the lean years of 2008-09. Russia has reduced unemployment since 2009 and has made progress on reducing inflation since 2010. Russia's long-term challenges include a shrinking workforce, a high level of corruption, difficulty in accessing capital for smaller, non-energy companies, and poor infrastructure in need of large investments.

Source : CIA

Comments

Information

The address mentioned in your inquiry belongs to the company Zakrytoe aktsyonernoe obschestvo "ORIMI TREYD" (name in English: "ORIMI TRADE" PRIVATE JOINT STOCK COMPANY). We provide the report on this company.

Summary

Original Name	Zakrytoe aktsyonernoe obschestvo "ORIMI TREYD"
Legal Form	ZAO (Private Joint Stock Company by Russian Law)
Year of Foundation	1994
Sales	9 325 266 th RUR for 12 months, ended 01.01.2012
Employees	200 (approx.) on January, 22, 2013 (company's data)

Company Identification Details

Original Name	ZAKRYTOE AKTSYONERNOE OBSCHESTVO "ORIMI TREYD"
Short Name	ZAO "ORIMI TREYD"
Name in English	"ORIMI TRADE" PRIVATE JOINT STOCK COMPANY
Address	Tobol'skaya str., 3, St.-Petersburg, 194044, Russian Federation
Legal Address	Tobol'skaya str., 3, St.-Petersburg, 194044, Russian Federation
Phone	+7 (812) 3468240, 5423795, 3471092, 5426463, 3271085
Fax	+7 (812) 3468240, 5421501
E-mail	mail@orimitrade.ru
WEB Address	www.orimitrade.ru
History	30.09.2005: Legal Address changed from Favorskogo str., 12, St.-Petersburg, 195220, Russian Federation

Official Company Data

Legal Form	ZAO (Private Joint Stock Company by Russian Law)
Date of Registration	23.12.2002
Registration Number	1027802514541
Statistic Code (OKPO)	39420178
Taxpayer Code (INN)	7804045886
Registration Authority	Ministry for Taxes and Duties of Russian Federation Inspection within Kalininskiy District of St.-Petersburg

Public Record Information

Information

The company Zakrytoe aktsyonernoe obschestvo "ORIMI TREYD" was not included in the published list of bankrupt companies.

Share Capital

Current Share Capital 30 000 RUR

Shareholders

Total	1 legal person and 3 private persons incl.
Shareholder	FIRM "YOLART.INC"
Address	USA
Share	14 %
Shareholder	3 private persons
Nationality	Russian Federation
Share	86 %
Comments	The information on the shareholders of the company is presented on 01.08.2006: According to Russian legislation the information on change of shareholders of companies with the legal status joint-stock company isn’t included in the Single State Register of Legal Entities of Russian Federation. Data on change of shareholders of company (if the company has a status joint-stock company) are reflected in register of shareholders which is conducted either by the company itself or by independent specific company – register holder. According to Russian legislation to get an extract about the composition of shareholders at current situation from the register of shareholders it’s necessary to be a shareholder of this company (to have no less than 1 % of its share). The inquired company isn’t public corporation (the shares of the company aren’t presented on the exchange), that’s why the company doesn’t publish quarterly reports about the composition of shareholders. Therefore current composition of company’s shareholders may differ from ours one in the report. The names of foreign shareholders of the company may be pointed incorrectly as in official documents (extracts from register) they’re written in Russian by cyrillic letters. We present our apologies for possible mistakes in transliteration.

Directors

Director	Mr Kas'yanenko Sergey Vasil'evich
	Signature Right
Nationality	Russian Federation
Address	Nalichnaya str., 19, ap. 98, St.-Petersburg, 199406, Russian Federation
Date of Birth	22.11.1957
Taxpayer Code (INN)	780105058505

Re-Registration Data

Initial Registration	12.10.1994
Registration Number	AOL-8138
Registration Authority	Register Chamber of St.-Petersburg
Date of Registration	23.12.2002
	(Entering into the Single State Register of Legal Entities)
Registration Number	1027802514541
Registration Authority	Ministry for Taxes and Duties of Russian Federation Inspection within Kalininskiy District of St.-Petersburg
Date of Re-registration	30.09.2005
File Number	2057812491152
Registration Authority	Federal Tax Service of Russian Federation
Changes	Legal Address

Operations

Activities	Manufacture and sales of tea and coffee. The company sells tea under brands Princess NOORI, Princess KANDY, Princess GITA, Princess JAVA and coffee under brands JOCKEY, REGAL, MONSIGNOR and MAGIC PLANTATION. The company operates under trading name ORIMI TRADE.
Staff Employed	200 (approx.) on January, 22, 2013 (company's data)
Employees' History	200 (approx.) on August, 10, 2011 (company's data) 200 (approx.) on April, 26, 2011 (company's data) 200 (approx.) on April, 13, 2011 (company's data) 200 (approx.) on March, 03, 2011 (company's data) 100 (approx.) on July, 07, 2010 (company's data) 70 (approx.) on December, 30, 2009 (company's data) 50 (approx.) on August, 14, 2009 (company's data) 50 (approx.) on July, 06, 2009 (company's data) 50 (approx.) on April, 14, 2009 (company's data) 50 (approx.) on July, 03, 2008 (company's data) 50 (approx.) on October, 28, 2007 (company's data) 50 (approx.) on August, 27, 2007 (company's data) 40 on May, 17, 2006 (company's data)

Real Estate

Own	none
Rent	Office Address: Tobol'skaya str., 3, St.-Petersburg, 194044, Russian Federation (company's data) Industrial area, warehouse Address: im. Sverdlova poselok, microdistrict 1, Sivolozhskiy District, Leningrad Region, Russian Federation (company's data)

Export & Import

Export Countries	2011: Vietnam 2004: Moldavia, Latvia
Exported Goods	coffee, tea
Export Value	in 2011: 41 892 USD in 2005-2010: none in 2004: 3 940 375 RUR
Import Countries	2011: India, Sri Lanka, Germany, China, Kenya, Brazil, Indonesia, Vietnam, Ethiopia, Papua New Guinea, Guatemala, Japan, Great Britain, Ecuador, Mexico, Egypt, Nigeria, Honduras, Uganda, Israel, Chile, Kyrgyzstan, Colombia, Sudan, Spain, Poland, Belgium, Lithuania, Republic of South Africa, Tanzania, Morocco, Switzerland, Malawi, Netherlands, Argentina, Thailand, Turkey, Paraguay, Italy, Estonia 2010: India, Sri Lanka, China, Germany, Kenya, Indonesia, Vietnam, Brazil, Ethiopia, Papua-New Guinea, Spain, Mexico, Ecuador, Nigeria, Great Britain, Uganda, Guatemala, Kirghizia, Cot-d'ivuar, Chile, Egypt, Bolivia, Colombia, Japan, Burundi, Peru, Lithuania, Poland, Switzerland, Republic of South Africa, Slovakia, Nicaragua, Estonia, Latvia, Thailand, Belgium, Paraguay, Netherlands, Argentina, Iran, Morocco 2009: India, Sri Lanka, China, Kenya, Indonesia, Brazil, Germany, Vietnam, Ethiopia, Lithuania, Papua-New Guinea, Great Britain, Uganda, Poland, Nigeria, Cameroon, Estonia, Mexico, Chile, Nicaragua, Ecuador, Colombia, Burundi, Switzerland, Guatemala, Egypt, Bolivia, Kirghizia, Sudan, Republic of South Africa, Thailand, Latvia, Paraguay, France, Netherlands 2004-2008: Germany, Kenya, China, Switzerland, Vietnam, Indonesia, Estonia, India, Argentina, Brazil, Poland, Nigeria, Great Britain, Lithuania, Turkey, Republic of South Africa, Sri Lanka, Papua New Guinea, Burundi, Ethiopia and other countries.
Imported Goods	coffee, tea, glass jars, cardboard packings, fabrics, plastic products, paper products, tableware, dried fruits
Import Value	in 2011: 272 056 854 USD in 2010: 230 555 110 USD in 2009: 208 354 443 USD in 2008: 196 679 153 USD in 2007: 149 846 162 USD in 2006: 91 403 751 USD in 2005:2 759 753 661 RUR in 2004: 1 619 790 628 RUR

Branches

Branch None

Participation

Information

The company is a shareholder of companies: OOO "KARAVAN" Address: Favorskogo str., 12, St.-Petersburg, 195220, Russian Federation Registration Number: 1027802514552 Taxpayer Code (INN): 7804078345 Share: 100 % OOO "ORIMI TSENTR" Address: Sverdlovskaya nab., 18, lit. Z, St.-Petersburg, 195009, Russian Federation Registration Number: 1107847305719 Taxpayer Code (INN): 7804445411 Share: 100 %

Related Companies

Information

The company FIRM "YOLART.INC" isn't a shareholder of any other companies in Russian Federation. Mr Kas'yanenko Sergey Vasil'evich is also a shareholder of company OOO "ORIMI TREYD" Registration number: 1027802512451

Bankers

Bank	OAO "MEZHDUNARODNYY BANK SANKT-PETERBURGA", bank code: 044030760 (Russian Federation)
Account(s)	40702810400000008087 (RUR)
Bank	OAO "VTB 24", bank code: 044030704 (Russian Federation)
Account(s)	40702810413000001237 (RUR)
Bank	OAO BANK "TAVRICHESKIY", bank code: 044030877 (Russian Federation)
Account(s)	40702810500000004322 (RUR)

Financial Data

Profit and Loss (extract)

The following figures are shown in units of 1000

Period, months	12	12	12	12
Ended	01.01.2012	01.01.2011	01.01.2010	01.01.2009
Currency	RUR	RUR	RUR	RUR
SALES	9325266	8129127	7296203	5423129
Cost of Goods sold	9019262	7937023	7109050	5243285
GROSS PROFIT	306004	192104	187153	179844
Distribution Costs	99625	67843	65751	82659
Management Costs
OPERATING PROFIT	206379	124261	121402	97185
Non Trading Income	170487	188310	816895	26374
PRE TAX PROFIT	376866	312571	267655	123559
Taxation	38152	62299	53646	30553
PROFIT AFTER TAX	338714	250272	214009	93006

Balance Sheet (extract)

The following figures are shown in units of 1000

As at	01.01.2012	01.01.2011	01.01.2010	01.01.2009
Currency	RUR	RUR	RUR	RUR
TOTAL FIXED ASSETS	16899	17988	211951	181523
Intangible Assets	1300	2366	2761	3246
Fixed Assets	74	134	253	307
TOTAL CURRENT ASSETS	1319864	1811321	2303468	452383
Stock	186069	113222	114074	100592
Trade debtors	885558	690775	738547	245700
Cash	1188	42543	244532	12516
TOTAL ASSETS	1336763	1829309	2515419	633906
TOTAL EQUITY	630882	479849	329577	215568
Share Capital	30	30	30	30
Retained Profits	630852	479819	329547	215538
TOTAL LONG TERM LIABS
Long Term Loans
TOTAL CURRENT LIABS	705881	1349460	2185842	418338
Short Term Loans		989300	711220
Short Term Trade Creditors	705881	360160	1474622	418338
TOTAL EQUITY & LIABS	1336763	1829309	2515419	633906

Key Credit Ratios

The following figures are shown as Ratios or Percentages

Accounts Date	01.01.2012	01.01.2011	01.01.2010	01.01.2009
Current Ratio	1,87	1,34	1,05	1,08
Working Capital, x1000 RUR	613983	461861	117626	34045
Quick Ratio	1,61	1,26	1	0,84
Debt to Equity Ratio	1,12	2,81	6,63	1,94
Current Assets Turnover	7,07	4,49	3,17	11,99
Total Assets Turnover Ratio	6,98	4,44	2,9	8,56
Pre Tax Profit Margin, %	4,04	3,85	3,67	2,28
Gross Profit, %	3,28	2,36	2,57	3,32
Return on Investment, %	59,74	65,14	81,21	57,32
Return on Assets, %	28,19	17,09	10,64	19,49

Clients & Suppliers

Clients

RIUL VECHE SRL (Moldova) YUONIKS SIA (Latvia) LAMDONG TEA JOINT STOCK COMPANY (Vietnam)

Suppliers

ZHEJIANG CHUNAN NEW CONTINENT TEA CO., LTD. (China) CHINA TEA CO., LTD. (China) YUNNAN TEA GARDEN GROUP SHAREHOLDING (China) L.A.B.INTERNATIONAL KENIA LIMITED (Kenya) GIRNAR EXPORTS (India) GLATFELTER GERNSBACH GMBH AND CO. KG (Germany) BHANSALI AND CO. (India) VALORIZACAO EMPRESA DE CAFE S.A. (Brazil) MARTIN BAUER GMBH AND CO. KG (Germany) ZWIRNEREI A.D.WUTACH GMBH (Germany) KRAUTER MIX GMBH (Germany) HALSSEN AND LYON GMBH (Germany) GDG SCHUTTE GMBH AND CO. KG (Germany) GRIFFIN GLOBAL ALLIANCE PTE LTD. (Vietnam) EMPIRE TEAS LTD. (Sri Lanka) SINAR MALUKU (Indonesia) AHLSTROM FIBERCOMPOSITES (Great Britain) SAOKIN NIGERIA LTD. (Nigeria) OAO UKRPLASTIK (Ukraine) *** The names of foreign partners may be pointed incorrectly as in official documents (declarations) they’re written in Russian. We present our apologies for possible mistakes in transliteration.

Actions at law

The information of Arbitration court of Moscow about judicial claims is presented

Date of registration	12.11.2012
Registration number	A56-67463/2012
Plaintiff	ZAO "ORIMI TREYD"
Defendant	Baltiysk Costoms
Claim sum	-
Claim category	Economic disputes

Date of registration	21.12.2009
Registration number	A56-93014/2009
Plaintiff	ZAO "ORIMI TREYD"
Defendant	OAO "PETROLESPORT"
Claim sum	1 233 937 RUR
Claim category	Default of obligations under the contract

Date of registration	31.08.2010
Registration number	A56-48264/2010
Plaintiff	ZAO "ORIMI TREYD"
Defendant	ZAO "SPAR RITEYL"
Claim sum	1 733 087 RUR
Claim category	Default of obligations under the contract

Date of registration	26.12.2008
Registration number	A56-59347/2008
Plaintiff	ZAO "ORIMI TREYD"
Defendant	ZAO "PLES"
Claim sum	3 073 897 RUR
Claim category	Default of obligations under the contract

Date of registration	09.02.2007
Registration number	A56-4389/2007
Plaintiff	ZAO "ORIMI TREYD"
Defendant	Baltic customs
Claim sum	-
Claim category	Customs dispute

Publications

Date	2013
Source	The Federal Tax Service of Russian Federation
Text of Publication	The Federal Tax Service of Russian Federation has published the information that Mr Kas'yanenko Sergey Vasil'evich (as private person) does't have not paid taxes.

Original Financial Data

(Russian Accounting Report in English)

Balance Sheet

The following figures are shown in units of 1000

ASSETS	Line code	as at 01.01.2010	as at 01.01.2011	as at 01.01.2012
I. NON-CURRENT ASSETS
Intangible assets	110	2761	2366	1300
Fixed assets	120	253	134	74
Construction in progress	130	42	10	-
Income-bearing investments in tangible assets	135	-	-	-
Long-term financial investments	140	208895	15478	15478
Deferred tax assets	145	-	-	-
Other non-current assets	150	-	-	-
Total section I	190	211951	17988	16899
II. CURRENT ASSETS
Inventories	210	114074	113222	186069
including :
raw materials and other inventories	211	-	-	-
livestock	212	-	-	-
work in progress	213	-	-	-
finished goods and goods for resale	214	113606	111970	-
goods dispatched	215	-	-	-
expenses related to future periods	216	468	525	-
other supplies and expenditures	217	-	727	-
Value added tax on purchased goods	220	-	5255	19259
Accounts receivable (payments expected beyond 12 months after the reporting date)	230	-	-	-
including :
buyers and customers	231	-	-	-
Accounts receivable (payments expected within 12 months after the reporting date)	240	738547	690775	885558
including :
buyers and customers	241	309668	501090	-
Short-term investments	250	1206315	959526	227790
Monetary assets	260	244532	42543	1188
Other current assets	270	-	-	-
Total section II	290	2303468	1811321	1319864
TOTAL SECTIONS I and II	300	2515419	1829309	1336763
EQUITY AND LIABILITIES
III. EQUITY AND RESERVES
Share capital	410	30	30	30
Treasury shares	411	-	-	-
Additional capital	420	-	-	-
Legal reserve	430	-	-	-
including :
reserves and provisions formed in  accordance with legislation	431	-	-	-
reserves formed in accordance  with foundation documents	432	-	-	-
Retained earnings (loss)	470	329547	479819	630852
Total section III	490	329577	479849	630882
IV. NON-CURRENT LIABILITIES
Borrowings	510	-	-	-
Deferred tax liabilities	515	-	-	-
Other non-current liabilities	520	-	-	-
Total section IV	590	-	-	-
V. CURRENT LIABILITIES
Borrowings	610	711220	989300	-
Accounts payable	620	1474622	360160	705881
including :
suppliers and contractors	621	1457441	350188	-
salaries payable	622	539	787	-
payable to state non-budget funds	623	72	183	-
taxes payable	624	16570	9002	-
other creditors	625	-	-	-
Dividends payable to participants (shareholders)	630	-	-	-
Income of future periods	640	-	-	-
Reserves for future expenses and payments	650	-	-	-
Other current liabilities	660	-	-	-
Total section V	690	2185842	1349460	705881
TOTAL SECTIONS III,IV,V	700	2515419	1829309	1336763

PROFIT AND LOSS ACCOUNT

The following figures are shown in units of 1000

PARAMETER	Line code	01.01.2012	01.01.2011	01.01.2010
INCOME FROM AND EXPENSES ON ORDINARY ACTIVITIES
Sale of goods, products, work, services (less VAT, excise tax, other similar mandatory payments)	010	9325266	8129127	7296203
Cost of goods, products, work, services sold	020	9019262	7937023	7109050
Gross profit	029	306004	192104	187153
Selling expenses	030	99625	67843	65751
Administrative expenses	040	-	-	-
Profit (loss) from operations	050	206379	124261	121402
OTHER INCOME AND EXPENSES
Interest income	060	49089	120639	105246
Interest expenses	070	26135	35816	32628
Income from investments in other companies	080	187681	-	-
Other operating income	090	309781	769576	744307
Other operating expenses	100	349929	666089	30
Non-operating income	120	-	-	-
Non-operating expenses	130	-	-	-
Profit (loss) before profit tax	140	376866	312571	267655
Deferred tax assets	141	-	-	-
Deferred tax liabilities	142	-	-	-
Current profit tax	150	38152	62299	53646
Net profit (loss) for the reporting period	190	338714	250272	214009

Rates of Exchange

RUR - Russian Rouble	01.01.2012:   1 EUR = 41.67 RUR,   1 USD = 32.19 RUR
EUR - EURO	01.01.2011:   1 EUR = 40.49 RUR,   1 USD = 30.35 RUR
USD - US Dollar	01.01.2010:   1 EUR = 43.46 RUR,   1 USD = 30.19 RUR

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.53.85
UK Pound	1	Rs.85.25
Euro	1	Rs.71.72

INFORMATION DETAILS

Report Prepared by :

NLM

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.