MIRA INFORM REPORT

Report Date :

30.07.2013

IDENTIFICATION DETAILS

Name :	BETTA-EXCLUSIVE, LLC
Formerly Known As :	TOVARYSTVO Z OBMEZHENOYU VIDPOVIDALNISTYU INTER TREYD GRUP
Registered Office :	15 Lva Tolstogo str., Kiev, 01033
Country :	Ukraine
Financials (as on) :	31.12.2011
Date of Incorporation :	03.08.1998
Com. Reg. No.:	21682392
Legal Form :	TOV (Limited Liability Company by Ukrainian Law)
Line of Business :	Wholesale and retail trade of crockery and household goods in the shop Posud:meister.
No. of Employees :	50

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 – March 31^st, 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
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 to foster economic growth. 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. 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. Economic growth slowed in the second half of 2012 with Ukraine finishing the year in technical recession following two consecutive quarters of negative growth.

Source : CIA

Identification

Full Name

:

Tovarystvo z obmezhenoyu vidpovidalnistyu BETTA-EKSKLYUZYV

Name in English

:

BETTA-EXCLUSIVE, LLC

Name in national language

:

Товариство з обмеженою відповідальністю БЕТТА-ЕКСКЛЮЗИВ

Previous Names

:

-	Tovarystvo z obmezhenoyu vidpovidalnistyu INTER TREYD GRUP

Office Address

:

15 Lva Tolstogo str., Kiev, 01033, Ukraine

Legal Address

:

15 Lva Tolstogo str., Kiev, 01033, Ukraine

Contacts

:

-	Phone/fax	:	(+38 044) 5319866
-	E-mail	:	info@betta.com.ua
-	WWW	:	www.posudmeister.com.ua

SUMMARY

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

Incorporation : 1998

Staff : 50

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

Sales :	769.30 th UAH ( for 12 months, ended 31.12.2011 )
	1 064.40 th UAH ( for 12 months, ended 31.12.2010 )

Incorporation

:

1998

Registration Data

Date of registration

:

03.08.1998

Registration number

:

21682392

Registr. authority

:

Local Administration (Kiev, Ukraine)

VAT number

:

216823926078

Registr. place

:

Ukraine

Number of VAT-certificate: 36479336 Date of issue: 06.09.2001

Legal Form

:

TOV (Limited Liability Company by Ukrainian Law)

since 03.08.1998

Share Capital

:

34 375 UAH (registered)

since 03.08.1998

Shareholders

:

-	Mr Eryomenko Vladimir Viktorovich (Ukraine)				100.00 %
		share's book value	:	34 375 UAH

Board / Executives

Executives

Director

:

Mr Eryomenko Vladimir Viktorovich (Ukraine)

Authorised signature

:

Mr Eryomenko Vladimir Viktorovich

Activities

:

-	572	Household Appliance Stores
		(NACE 5245: Retail sale of electrical household appliances (unit E1) and radio and television goods)

Wholesale and retail trade of crockery and household goods in the shop Posud:meister.

Staff employed

:

50 [E]

Staff History

:

-	16
	( the data as of 31.12.2009 )

Export

:

none

Import

- 01.12.2012

:

Fiscal period: 11 month(s), currency: UAH

227 312.00

Sri Lanka

:

none

Facilities

Real estate

:

unknown ownership:
-	Premises - Office
	address	:	15 Lva Tolstogo str., Kiev, 01033, Ukraine

Subsidiaries and Participation

:

n/a

Bankers

:

-	Brokbiznesbank (Ukraine)
	bank code	:	300249
	account(s)	:	260090103800 UAH
-	Praveks-Bank (Ukraine)
	bank code	:	321983
	account(s)	:	2600900002300 USD, UAH

Suppliers

:

-	Dankotuwa Porcelain Limited (Sri Lanka)

Litigation

:

According to the data of Bulletin of the State Registration as of 26.07.2013, there are no bankruptcy registered in the name of the subject company.

There are no suits/litigation files recorded in the name of BETTA-EKSKLYUZYV company registered at the web-site of the Unified State Register of the Legal Judgements.

Remarks on payment

:

No official information is available according to the Ukrainian legislation.

Financial Elements

:

There is no company’s financial report for 6 month 2012 at the official accessible sources.

Period, months	12	12	12
Ended	31.12.2011	31.12.2010	31.12.2009
Currency	UAH th	UAH th	UAH th
===== BALANCE SHEET ====================
--- A S S E T S --------------------
NON-CURRENT ASSETS
- Intangible assets
- Fixed assets	695.00	706.40	739.50
- Investments in tangible assets
- Financial assets	0.00	0.00	0.00
- Other non-current assets	0.00
Non-current assets total	695.00	706.40	740.50
CURRENT ASSETS
- Stock	259.00	243.40	189.00
- Debtors	0.00	245.50	270.50
- Other receivables	166.60
- Short-term financial investments	0.00
- Cash	30.30	21.00	0.40
- Other current assets	247.40
Current assets total	703.30	597.00	481.20
Assets total	1 398.30	1 305.60	1 221.70
--- EQUITY AND LIABILITIES ---------
CAPITAL AND RESERVES
- Share capital	34.40	34.40	34.40
- Additional capital	0.00
- Other capital	0.00
- Reserve capital	0.00
- Retained earnings (Non-covered loss)	820.60
Capital and reserves total	855.00	948.90	1 105.30
Provisions	0.00
LONG-TERM LIABILITIES
- Loans and credits
- long-term amounts owed to banks
- Other long-term liabilities
Long-term liabilities total	0.00	0.00	0.00
SHORT-TERM LIABILITIES
- Loans and credits	0.00
- short-term amounts owed to banks	0.00
- Creditors	345.50
- trade debts	326.50
- accrued payroll	14.00
- tax liabilities	5.00
- other creditors
- advances received
- Dividends in arrears
- Accrued income, deferred charges	0.00
- Other short-term liabilities	197.80
Short-term liabilities total	543.30	356.70	116.40
Liabilities total	543.30	356.70	116.40
Equity and liabilities total	1 398.30	1 305.60	1 221.70
===== PROFIT AND LOSS ACCOUNT ==========
ORDINARY ACTIVITY INCOME AND CHARGES
Net sales	769.30	1 064.40	867.00
Cost of goods sold	204.00
Gross profit
Distribution costs	641.30
Administrative and management costs
Profit on sales
OPERATING INCOME AND CHARGES
Interest receivable
Interest payable
Income from participating interests
Other operating income	0.00
Other operating charges	0.00
Operating profit
INVESTMENT INCOME AND CHARGES
Investment income less charges
Profit before taxation	-76.00	-156.40	-183.40
Income-tax and other similar payments	17.90
Profit (loss) from ordinary activity
Extraordinary income less charges
Net profit	-93.90	-156.40	-183.40
- - - - - - - KEY RATIOS - - - - - - -
Return on sales, %	-9.88	-14.69	-21.15
Profit before taxation / Net sales
Operating margin of profit, %
Operating profit / Net sales
Return on investment, %	-8.89	-16.48	-16.59
Profit before taxation / Equity
Current assets turnover	1.09	1.78	1.80
Net sales / Current assets
Working capital	160.00	240.30	364.80
Current assets - Short-term liabilities
Leverage	0.61	0.73	0.90
Equity / Total assets
Current ratio	1.29	1.67	4.13
Current assets / Short-term liabilities
Quick ratio	0.82	0.99	2.51
(Current assets - Stock) / Short-term liabilities
Debt-to-equity ratio	0.64	0.38	0.11
Total liabilities / Equity

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

FINAL COMMENTS

The information given in this report was collected from all the sources accessible. We contacted Mrs Nataliya Gerasimenko (secretary) on 26.07.2012 by the tel. number: +38 044 5319866. She confirmed the general information and asked us to send a questionnaire. An inquiry was sent for the attention of the Director but no answer was received. If the additional information comes in we will update the subject report. Email info@posudmeister.com.ua is not actual. According to State Register data there is no any company with name mentioned in your order BETTA EXCLUSIVE of 59. There is only one company matching information mentioned in your inquiry BETTA-EXCLUSIVE.

APPENDIX A

Financial Statements

Period, months	12	12	12
Ended	31.12.2011	31.12.2010	31.12.2009
Currency	UAH th	UAH th	UAH th
SMALL ENTREPRENEUR's PROFIT AND LOSS
ACCOUNT (s)
010 Sales revenue (Income from sales of goods, work,	923.20
services
020 Indirect taxes and other compulsory payments	153.90
030 Net sales revenue (010-020)	769.30
040 Other operating income	0.00
050 Other income	0.00
070 Net revenue total (030+040+050)	769.30
080 Cost of goods, works, services	204.00
090 Other operating charges	641.30
091 incl.
092
100 Other charges	0.00
120 Charges total (080+090+100)	845.30
130 Profit before taxation (070-120)	-76.00
140 Profit tax	17.90
150 Net profit (130-140)	-93.90
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
BALANCE SHEET
ASSETS
I. NON-CURRENT ASSETS
020 Construction in progress	23.90
Fixed assets
030 residual assets	671.10
031 acquisition cost	992.90
032 depreciation	321.80
Long-term biological assets
035 residual assets
036 acquisition cost
037 depreciation
040 Long-term financial investments	0.00
070 Other non-current assets	0.00
080 NON-CURRENT ASSETS TOTAL	695.00
II. CURRENT ASSETS
Stock
100 Raw materials, consumables and supplies	86.00
110 Current biological assets
130 Finished goods	173.00
Trade debtors:
160 net realizable value	0.00
161 acquisition cost	0.00
162 doubtful debts reserve	0.00
Accounts receivable
170 Budget accounts receivable	0.00
210 Other current accounts receivable	166.60
220 Current financial investments	0.00
Cash at bank and in hand
230 Funds in local currency	30.30
231 incl. cash in hand
240 Funds in foreign currencies	0.00
250 Other current assets	245.20
260 CURRENT ASSETS TOTAL	701.10
270 III. DEFERRED CHARGES	2.20
275 IV. NON-CURRENT ASSETS HELD FOR SALE
280 ASSETS TOTAL	1 398.30
EQUITY AND LIABILITIES
I. CAPITAL AND RESERVES
300 Authorized capital	34.40
320 Additional contributed capital	0.00
340 Reserve capital	0.00
350 Retained earnings (loss)	820.60
360 Unpaid capital (minus)	0.00
380 CAPITAL AND RESERVES TOTAL	855.00
430 II. PROVISIONS OF DEFERRED CHARGES	0.00
AND TARGETED FUNDING
480 III. LONG-TERM LIABILITIES	0.00
IV. SHORT-TERM LIABILITIES
500 Short-term amounts owed to credit institutions	0.00
510 Short-term portion of long-term liabilities	0.00
530 Trade creditors	326.50
Accounts payable:
550 Budget accounts payable	5.00
570 Insurance payments	0.00
580 Accrued payroll	14.00
605 Liabilities connected with non-current assets held
for sale
610 Other short-term liabilities	197.80
620 SHORT-TERM LIABILITIES TOTAL	543.30
630 V. DEFERRED INCOME	0.00
640 EQUITY AND LIABILITIES TOTAL	1 398.30

- 31.12.2010

:

Fiscal period: 12 month(s), currency: UAH, th
SMALL ENTREPRENEUR's PROFIT AND LOSS
ACCOUNT (s)
010 Sales revenue (Income from sales of goods, work,	1 064.40
services
020 Indirect taxes and other compulsory payments	177.50
030 Net sales revenue (010-020)	886.90
040 Other operating income	28.50
050 Other income from ordinary activity	0.00
060 Extraordinary income	0.00
070 Net revenue total (030+040+050+060)	915.40
080 Change in work-in-progress and finished goods	0.00
090 Tangible expenses	133.90
100 Payroll costs	317.90
110 Allocation to social needs	118.80
120 Amortization charges	34.50
130 Other operating charges	285.90
131 incl.	65.90
140 Cost of sales	180.80
150 Other ordinary activity expenses	0.00
160 Extraordinary charges	0.00
170 Profit tax	0.00
180 Charges total (090+100+110+120+130+140+150+	1 071.80
+160+170+ -080)
190 Net profit (070-180)	-156.40
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
BALANCE SHEET
ASSETS
I. NON-CURRENT ASSETS
020 Construction in progress	0.00
Fixed assets
030 residual assets	706.40
031 acquisition cost	983.40
032 depreciation	277.00
Long-term financial assets
040 Capital participation in other enterprises	0.00
070 Other non-current assets	0.00
080 NON-CURRENT ASSETS TOTAL	706.40
II. CURRENT ASSETS
Stock
100 Raw materials, consumables and supplies	36.30
130 Finished goods	207.10
Trade debtors:
160 net realizable value	245.50
161 acquisition cost	245.50
162 doubtful debts reserve	0.00
Accounts receivable
170 Budget accounts receivable	0.00
210 Other current accounts receivable	0.00
220 Current financial investments	0.00
Cash at bank and in hand
230 Funds in local currency	21.00
240 Funds in foreign currencies	0.00
250 Other current assets	87.10
260 CURRENT ASSETS TOTAL	597.00
270 III. DEFERRED CHARGES	2.20
280 ASSETS TOTAL	1 305.60
EQUITY AND LIABILITIES
I. CAPITAL AND RESERVES
300 Authorized capital	34.40
320 Additional contributed capital	0.00
340 Reserve capital	0.00
350 Retained earnings (loss)	914.50
360 Unpaid capital (minus)	0.00
380 CAPITAL AND RESERVES TOTAL	948.90
430 II. PROVISIONS FOR EXPENSES AND	0.00
LIABILITIES
480 III. LONG-TERM LIABILITIES	0.00
IV. SHORT-TERM LIABILITIES
500 Short-term amounts owed to credit institutions	0.00
510 Short-term portion of long-term liabilities	0.00
530 Trade creditors	305.70
Accounts payable:
550 Budget accounts payable	26.60
570 Insurance payments	0.80
580 Accrued payroll	23.60
610 Other short-term liabilities	0.00
620 SHORT-TERM LIABILITIES TOTAL	356.70
630 V. DEFERRED INCOME	0.00
640 EQUITY AND LIABILITIES TOTAL	1 305.60

- 31.12.2009

:

Fiscal period: 12 month(s), currency: UAH, th
SMALL ENTREPRENEUR's PROFIT AND LOSS
ACCOUNT (s)
010 Sales revenue (Income from sales of goods, work,	867.00
services
020 Indirect taxes and other compulsory payments	144.60
030 Net sales revenue (010-020)	722.40
040 Other operating income	24.60
050 Other income from ordinary activity	0.00
060 Extraordinary income	0.00
070 Net revenue total (030+040+050+060)	747.00
080 Change in work-in-progress and finished goods	0.00
090 Tangible expenses	59.00
100 Payroll costs	357.90
110 Allocation to social needs	122.70
120 Amortization charges	42.30
130 Other operating charges	197.40
131 incl.	59.20
140 Cost of sales	151.10
150 Other ordinary activity expenses	0.00
160 Extraordinary charges	0.00
170 Profit tax	0.00
180 Charges total (090+100+110+120+130+140+150+	930.40
+160+170+ -080)
190 Net profit (070-180)	-183.40
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
BALANCE SHEET
ASSETS
I. NON-CURRENT ASSETS
020 Construction in progress	0.00
Fixed assets
030 residual assets	739.50
031 acquisition cost	982.90
032 depreciation	243.40
Long-term financial assets
040 Capital participation in other enterprises	0.00
070 Other non-current assets	1.00
080 NON-CURRENT ASSETS TOTAL	740.50
II. CURRENT ASSETS
Stock
100 Raw materials, consumables and supplies	35.20
130 Finished goods	153.80
Trade debtors:
160 net realizable value	270.50
161 acquisition cost	270.50
162 doubtful debts reserve	0.00
Accounts receivable
170 Budget accounts receivable	0.00
210 Other current accounts receivable	0.00
220 Current financial investments	0.00
Cash at bank and in hand
230 Funds in local currency	0.40
240 Funds in foreign currencies	0.00
250 Other current assets	21.30
260 CURRENT ASSETS TOTAL	481.20
270 III. DEFERRED CHARGES	0.00
280 ASSETS TOTAL	1 221.70
EQUITY AND LIABILITIES
I. CAPITAL AND RESERVES
300 Authorized capital	34.40
320 Additional contributed capital	0.00
340 Reserve capital	0.00
350 Retained earnings (loss)	1 070.90
360 Unpaid capital (minus)	0.00
380 CAPITAL AND RESERVES TOTAL	1 105.30
430 II. PROVISIONS FOR EXPENSES AND	0.00
LIABILITIES
480 III. LONG-TERM LIABILITIES	0.00
IV. SHORT-TERM LIABILITIES
500 Short-term amounts owed to credit institutions	0.00
510 Short-term portion of long-term liabilities	0.00
530 Trade creditors	80.40
Accounts payable:
550 Budget accounts payable	7.00
570 Insurance payments	5.40
580 Accrued payroll	23.60
610 Other short-term liabilities	0.00
620 SHORT-TERM LIABILITIES TOTAL	116.40
630 V. DEFERRED INCOME	0.00
640 EQUITY AND LIABILITIES TOTAL	1 221.70

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.59.29
UK Pound	1	Rs.91.18
Euro	1	Rs.78.71

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.