MIRA INFORM REPORT

Report Date :

14.06.2013

IDENTIFICATION DETAILS

Name :	ART-ULTRA LIMITED LIABILITY COMPANY
Registered Office :	Lermontovskiy prosp., 54, bldg. 103, St.-Petersburg, 190103
Country :	Russian Federation
Financials (as on) :	01.01.2008
Date of Incorporation :	29.06.2006
Com. Reg. No.:	5067847113901
Legal Form :	OOO (Limited Liability Company by Russian Law)
Line of Business :	Wholesale trade in seafoods.
No. of Employees :	5

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 :	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)
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. 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 also a top exporter of metals such as steel and primary aluminum. Russia''s reliance on commodity exports makes it vulnerable to boom and bust cycles that follow the volatile swings in global 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 visible 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 economic decline bottomed out in mid-2009 and the economy began to grow again in the third quarter of 2009. High oil prices buoyed Russian growth in 2011-12 and helped Russia reduce the budget deficit inherited from 2008-09. Russia has reduced unemployment to a record low and has lowered inflation below double digit rates. Russia joined the World Trade Organization in 2012, which will reduce trade barriers in Russia for foreign goods and services and help open foreign markets to Russian goods and services. At the same time, Russia has sought to cement economic ties with countries in the former Soviet space through a Customs Union with Belarus and Kazakhstan, and, in the next several years, through the creation of a new Russia-led economic bloc called the Eurasian Economic Union. Russia has had difficulty attracting foreign direct investment and has experienced large capital outflows in the past several years, leading to official programs to improve Russia''s international rankings for its investment climate. Russia''s adoption of a new oil-price-based fiscal rule in 2012 and a more flexible exchange rate policy have improved its ability to deal with external shocks, including volatile oil prices. Russia''s long-term challenges also include a shrinking workforce, rampant corruption, and underinvestment in infrastructure.

Source : CIA

Comments

Information

The address mentioned in your inquiry belongs to the company Obschestvo s ogranichennoy otvetstvennostyu "ART-UL'TRA" (name in English: "ART-ULTRA" LIMITED LIABILITY COMPANY). We provide the report on this company.

Summary

Original Name	Obschestvo s ogranichennoy otvetstvennostyu "ART-UL'TRA"
Legal Form	OOO (Limited Liability Company by Russian Law)
Year of Foundation	2006
Sales	66 268 th RUR for 12 months, ended 01.01.2008
Employees	5 on June, 13, 2013 (company's data)

Company Identification Details

Original Name	Obschestvo s ogranichennoy otvetstvennostyu "ART-UL'TRA"
Short Name	OOO "ART-UL'TRA"
Name in English	"ART-ULTRA" LIMITED LIABILITY COMPANY
Address	Lermontovskiy prosp., 54, bldg. 103, St.-Petersburg, 190103, Russian Federation
Legal Address	Lermontovskiy prosp., 54, bldg. 103, St.-Petersburg, 190103, Russian Federation
Phone	+7 (812) 3204954
Fax	+7 (812) 3204954
E-mail	reznik@krs-group.ru
WEB Address	none
History	04.05.2009: Legal Address changed from Tsiolkovskogo str., 9, bldg. 2, lit. A, St.-Petersburg, 190020, Russian Federation 10.06.2008: Legal Address changed from Shvetsova str., 10, lit. A, office 1N, St.-Petersburg, 198095, Russian Federation

Official Company Data

Legal Form	OOO (Limited Liability Company by Russian Law)
Date of Registration	29.06.2006
Registration Number	5067847113901
Statistic Code (OKPO)	94658970
Taxpayer Code (INN)	7805402019
Registration Authority	Federal Tax Service of Russian Federation Interregional Inspection N 15 within of St.-Petersburg

Public Record Information

Information

The company Obschestvo s ogranichennoy otvetstvennostyu "ART-UL'TRA" was not included in the published list of bankrupt companies.

Share Capital

Current Share Capital

10 000 RUR

Shareholders

Total	1 legal person
Shareholder	FSP PROCESSING HOLDING LIMITED
Address	Cyprus
Registration Number	NE 202360
Share	100 %

Directors

Director	Mr Viktorov Viktor Vital'evich
	Signature Right
Nationality	Russian Federation
Taxpayer Code (INN)	780623442409

Re-Registration Data

Date of Registration	29.06.2006
	(Entering into the Single State Register of Legal Entities)
Registration Number	5067847113901
Registration Authority	Federal Tax Service of Russian Federation Interregional Inspection N 15 within of St.-Petersburg
Date of Re-registration	10.06.2008
File Number	7089847736807
Registration Authority	Federal Tax Service of Russian Federation
Changes	Legal Address
Date of Re-registration	04.05.2009
File Number	7097847095801
Registration Authority	Federal Tax Service of Russian Federation
Changes	Legal Address
Date of Re-registration	14.12.2009
File Number	6099847074552
Registration Authority	Federal Tax Service of Russian Federation
Changes	Company's Rules

Operations

Activities	Wholesale trade in seafoods.
Staff Employed	5 on June, 13, 2013 (company's data)
Employees' History	6 on August, 15, 2011 (company's data) 5 on July, 23, 2011 (company's data) 7 on April, 23, 2010 (company's data)

Real Estate

Own	None
Rent	Office, warehouse Address: Lermontovskiy prosp., 54, bldg. 103, St.-Petersburg, 190103, Russian Federation (company's data)

Export & Import

Export Countries	2006-2012: No Export Activity
Exported Goods	none
Export Value	none
Import Countries	2012: Canada, China, Bangladesh, USA, India, Indonesia, New Zealand, Chile, Paraguay, Iceland, Vietnam, Colombia, Australia, Thailand, Argentina 2011: Canada, China, Indonesia, Bangladesh, Vietnam, New Zealand, USA, Uruguay, Chile, Spain, India, Iceland 2007-2010: New Zealand, China, Canada, Iceland, India, Thailand, Chile, Argentina and other countries
Imported Goods	seafoods, foodstuff, meat, offal, other countries
Import Value	in 2012: 10 357 472 USD in 2011: 19 916 731 USD in 2010: 11 295 403 USD in 2009: 5 532 186 USD in 2008: 7 504 128 USD in 2007: 2 034 436 USD

Branches

Branch

None

Participation

Information

None

Related Companies

Information

The company FSP PROCESSING HOLDING LIMITED is also a shareholder of companies: OOO "NPP LAZERNYE SISTEMY" Registration number: 1054700583453 OOO "GELIOS" Registration number: 1097847034955 Mr Viktorov Viktor Vital'evich isn't a shareholder and director of any other companies of Russian Federation.

Bankers

Bank	ZAO "YUNIKREDIT BANK" (Russian Federation)

Financial Data

Profit and Loss (extract)

The following figures are shown in units of 1000

Period, months	12	12
Ended	01.01.2008	01.01.2007
Currency	RUR	RUR
SALES	66268	2114
Cost of Goods sold	59687	1939
GROSS PROFIT	6581	175
Distribution Costs	5658	68
Management Costs		37
OPERATING PROFIT	923	70
Non Trading Income	-777	-41
PRE TAX PROFIT	146	29
Taxation	35	7
PROFIT AFTER TAX	111	22

Balance Sheet (extract)

The following figures are shown in units of 1000

As at	01.01.2008	01.01.2007
Currency	RUR	RUR
TOTAL FIXED ASSETS	67	5
Intangible Assets
Fixed Assets	67	5
TOTAL CURRENT ASSETS	15475	171
Stock	55
Trade debtors	15303	169
Cash	56	2
TOTAL ASSETS	15543	176
TOTAL EQUITY	325	32
Share Capital	10	10
Retained Profits	315	22
TOTAL LONG TERM LIABS
Long Term Loans
TOTAL CURRENT LIABS	15218	144
Short Term Loans	351	31
Short Term Trade Creditors	14867	113
TOTAL EQUITY & LIABS	15543	176

Key Credit Ratios

The following figures are shown as Ratios or Percentages

Accounts Date	01.01.2008	01.01.2007
Current Ratio	1,02	1,19
Working Capital, x1000 RUR	257	27
Quick Ratio	1,01	1,19
Debt to Equity Ratio	46,82	4,5
Current Assets Turnover	4,28	12,36
Total Assets Turnover Ratio	4,26	12,01
Pre Tax Profit Margin, %	0,22	1,37
Gross Profit, %	9,93	8,28
Return on Investment, %	44,92	90,63
Return on Assets, %	0,94	16,48

Clients & Suppliers

Suppliers

SHANGHAI SMILING FOOD CO., LTD. (China) TRICO SEAFOODS CO., LTD. (New Zealand) ZHANJIANG HAIZHOU AQUATIC PRODUCTS CO., LTD. (China) TAIZHOU TIANHE AQUATIC PRODUCTS CO., LTD. (China) SEALORD GROUP LIMITED (New Zealand) BEIHAI EVERGREEN AQUATIC PRODUCT SCIENCE AND TECHNOLOGY CO., LTD. (China) RIZHAO RIRONG AQUATIC PRODUCTS AND FOODS CO., LTD. (China) QINHUANGDAO CHENGCAI FOODSTUFF CO., LTD. (China) *** 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	28.01.2011
Registration number	A56-3489/11
Plaintiff	OOO "ART-UL'TRA"
Defendant	Baltiysk Customs
Claim sum	814 997 RUR
Claim category	Default of obligations under the contract

Date of registration	03.05.2011
Registration number	A56-45331/2009
Plaintiff	OOO "ART-UL'TRA"
Defendant	OOO "LAVENTA"
Claim sum	-
Claim category	About bankruptcy

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 Viktorov Viktor Vital'evich (as private person) does't have not paid taxes.

Financial Data

We couldn't get the financial data on the company of 2008 - 2011 years, because there weren't company's financial data of 2008 - 2011 years in the Federal Statistics Service of Russian Federation.

Original Financial Data (Russian Accounting Report in English)

Balance Sheet

The following figures are shown in units of 1000

ASSETS	Line code	as at 01.01.2007	as at 01.01.2008
I. NON-CURRENT ASSETS
Intangible assets	110	-	-
Fixed assets	120	5	67
Construction in progress	130	-	-
Income-bearing investments in tangible assets	135	-	-
Long-term financial investments	140	-	-
Deferred tax assets	145	-	-
Other non-current assets	150	-	-
Total section I	190	5	67
II. CURRENT ASSETS
Inventories	210	-	55
including :
raw materials and other inventories	211	-	-
livestock	212	-	-
work in progress	213	-	-
finished goods and goods for resale	214	-	-
goods dispatched	215	-	-
expenses related to future periods	216	-	55
other supplies and expenditures	217	-	-
Value added tax on purchased goods	220	-	61
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	169	15303
including :
buyers and customers	241	-	13806
Short-term investments	250	-	-
Monetary assets	260	2	56
Other current assets	270	-	-
Total section II	290	171	15475
TOTAL SECTIONS I and II	300	176	15543
EQUITY AND LIABILITIES
III. EQUITY AND RESERVES
Share capital	410	10	10
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	22	315
Total section III	490	32	325
IV. NON-CURRENT LIABILITIES
Borrowings	510	-	-
Deferred tax liabilities	515	-	-
Other non-current liabilities	520	-	-
Total section IV	590	-	-
V. CURRENT LIABILITIES
Borrowings	610	31	351
Accounts payable	620	113	14867
including :
suppliers and contractors	621	-	14828
salaries payable	622	3	7
payable to state non-budget funds	623	2	4
taxes payable	624	8	28
other creditors	625	100	-
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	144	15218
TOTAL SECTIONS III,IV,V	700	176	15543

PROFIT AND LOSS ACCOUNT

The following figures are shown in units of 1000

PARAMETER	Line code	01.01.2008	01.01.2007
INCOME FROM AND EXPENSES ON ORDINARY ACTIVITIES
Sale of goods, products, work, services (less VAT, excise tax, other similar mandatory payments)	010	66268	2114
Cost of goods, products, work, services sold	020	59687	1939
Gross profit	029	6581	175
Selling expenses	030	5658	68
Administrative expenses	040	-	37
Profit (loss) from operations	050	923	70
OTHER INCOME AND EXPENSES
Interest income	060	-	-
Interest expenses	070	4	1
Income from investments in other companies	080	-	-
Other operating income	090	974	-
Other operating expenses	100	1747	40
Non-operating income	120	-	-
Non-operating expenses	130	-	-
Profit (loss) before profit tax	140	146	29
Deferred tax assets	141	-	-
Deferred tax liabilities	142	-	-
Current profit tax	150	35	7
Net profit (loss) for the reporting period	190	111	22

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.58.41
UK Pound	1	Rs.91.62
Euro	1	Rs.78.12

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.