MIRA INFORM REPORT

Report Date :

10.05.2013

IDENTIFICATION DETAILS

Name :	WILMAR TRADING PTE LTD
Registered Office :	56 Neil Road Singapore 088830
Country :	Singapore
Financials (as on) :	31.12.2011
Date of Incorporation :	21.06.1988
Com. Reg. No.:	198802023W
Legal Form :	Limited Private Company
Line of Business :	Wholesale On A Fee Or Contract Basis (Eg Commission Agents)
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

A

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Good
Payment Behaviour :	Regular
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)
Singapore	A1	A1

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

SINGAPORE - ECONOMIC OVERVIEW

Singapore has a highly developed and successful free-market economy. It enjoys a remarkably open and corruption-free environment, stable prices, and a per capita GDP higher than that of most developed countries. The economy depends heavily on exports, particularly in consumer electronics, information technology products, pharmaceuticals, and on a growing financial services sector. Real GDP growth averaged 8.6% between 2004 and 2007. The economy contracted 1.0% in 2009 as a result of the global financial crisis, but rebounded 14.8% in 2010 and 4.9% in 2011, on the strength of renewed exports. Over the longer term, the government hopes to establish a new growth path that focuses on raising productivity, which has sunk to a compound annual growth rate of just 1.8% in the last decade. Singapore has attracted major investments in pharmaceuticals and medical technology production and will continue efforts to establish Singapore as Southeast Asia's financial and high-tech hub.

Source : CIA

Company Name:	Registered Number:
WILMAR TRADING PTE LTD	198802023W

Date Incorporated:	Registered Office:	Telephone Number:
21/06/1988	56 NEIL ROAD SINGAPORE 088830	6216 0244
Age of Company:	Website:	Industry Type:
25	www.wilmar-international.com	COMMERCE-WHOLESALE

Risk Dashboard
Days Beyond Terms	Trend:	No. of Litigation Counts:
Company DTC:		0
47
Better than last month;last month the entity took 143 days to pay		No. of Charges(s): 0
Industry DTC
27

Directors		Corporate Structure
Number of Current Directors	5	Holding Company:	WILMAR INTERNATIONAL LIMITED
Number that are shareholders	1	No. of Subsidiaries & Associated Companies:	NA

EXECUTIVE SUMMARY

Company Name	:	WILMAR TRADING PTE LTD
Registration No	:	198802023W
Date of Registration	:	21/06/1988
Former Name	:	NA
Date of Change of Name	:	NA
Type of Company	:	LIMITED PRIVATE COMPANY
Registered Address	:	56 NEIL ROAD SINGAPORE 088830
Date of Change of Address	:	17/12/1993
Contact No.	:	6216 0244
Fax No.	:	6223 6635
Website	:	www.wilmar-international.com
Registered Activities	:	1. GENERAL WHOLESALE TRADE (INCLUDING GENERAL IMPORTERS AND EXPORTERS) 2. WHOLESALE ON A FEE OR CONTRACT BASIS (EG COMMISSION AGENTS)
Issued Ordinary Capital*	:	$289,000,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 289,000,000
Issued Preference Capital	:	NA
Paid-Up Ordinary Capital	:	$289,000,000.00 SINGAPORE, DOLLARS
Paid-Up Preference Capital	:	NA
* Number of Shares includes number of Issued Treasury Shares
Issued Treasury Capital	:	NA
Paid-Up Treasury Capital	:	NA
No. of Local Subsidiaries	:	NA
No. of Local Associates	:	NA
Auditor	:	ERNST & YOUNG LLP
Bankers / Financiers	:	NA
Turnover	:	SGD - SIN 22,176,491,015.00 (FY2011)
Net Worth	:	SGD - SIN 1,044,899,736.00 (FY2011)
No. of Bank Charges	:	NA
No. of Litigation Suits	:	NA
S1000 / SME 1000 / FG50 Ranking	:	96 POSITION IN Singapore 1000 Companies Ranked by Net Profit (2011/2012) 18 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2011/2012) 87 POSITION IN Singapore 1000 Companies Ranked by Net Profit (2010/2011) 19 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2010/2011) 29 POSITION IN Singapore 1000 Companies Ranked by Net Profit (2009/2010)
Compounded Annual Growth Rate (CAGR)	:	7.08% (4 years)

SHAREHOLDER DETAILS

NAME	:	WILMAR INTERNATIONAL LIMITED
SHAREHOLDER ID	:	199904785Z
NATIONALITY	:	SINGAPORE
ADDRESS	:	56 NEIL ROAD SINGAPORE 088830
NO. OF ORD SHARES	:	289,000,000
% OF SHAREHOLDING	:	100%
CURRENCY	:	SINGAPORE, DOLLARS

OFFICER DETAILS

NAME	:	TEO KIM YONG
ADDRESS	:	19A YARWOOD AVENUE SINGAPORE 588015
POSITION	:	DIRECTOR
DATE OF APPT	:	01/10/1992
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S0128906C
NAME	:	PUN CHUI WUN
ADDRESS	:	145 MEI LING STREET #09-125 SINGAPORE 140145
POSITION	:	SECRETARY
DATE OF APPT	:	25/07/2008
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S1152387J
NAME	:	STEPHEN HO KIAM KONG
ADDRESS	:	37 SIGLAP BANK FRANKEL ESTATE SINGAPORE 456245
POSITION	:	DIRECTOR
DATE OF APPT	:	25/01/2012
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S1353729A
NAME	:	SNG MIOW CHING
ADDRESS	:	7 TANAH MERAH KECHIL AVENUE D'MANOR SINGAPORE 465631
POSITION	:	DIRECTOR
DATE OF APPT	:	25/01/2012
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S1421777J
NAME	:	TAN TIANG SOON COLIN
ADDRESS	:	30 TAI HWAN CRESCENT TAI HWAN PARK SINGAPORE 555592
POSITION	:	SECRETARY
DATE OF APPT	:	02/05/2006
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S1713527I
NAME	:	KUOK KHONG HONG @ KUOK KHOON HONG
ADDRESS	:	6 QUEEN ASTRID GARDENS QUEENS ASTRID GARDENS SINGAPORE 266865
POSITION	:	DIRECTOR MANAGING DIRECTOR
DATE OF APPT	:	01/04/1991 01/11/1994
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S2507689C
NAME	:	MARTUA SITORUS
ADDRESS	:	11 FORD AVENUE SINGAPORE 268691
POSITION	:	DIRECTOR
DATE OF APPT	:	01/01/2012
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S2692232A

KEY PERSONNEL PROFILE

Name:	KUOK KHONG HONG @ KUOK KHOON HONG
NRIC Number:	S2507689C
Available Address:	6 QUEEN ASTRID GARDENS QUEENS ASTRID GARDENS SINGAPORE 266865

Current Business Interest

No.	Name	Position	Appt Date	#of Share	%
1	BGW GUITARS PTE. LTD.	DIRECTOR	25/07/2012	-	NA
2	DELMAR PTE. LTD.	DIRECTOR	29/11/2006	-	NA
3	HANRU INVESTMENTS (PTE) LTD	MANAGER	16/07/1991	-	NA
4	HONG LEE HOLDINGS (PTE) LTD	DIRECTOR	08/04/1991	187500	7.50
5	JOSOVINA COMMODITIES PTE LTD	DIRECTOR	04/04/2001	-	NA
6	KHS & SONS PTE LTD	DIRECTOR	26/04/1991	-	NA
7	LEE KUAN YEW EXCHANGE FELLOWSHIP	DIRECTOR	15/06/2010	-	NA
8	LENCE PTE. LTD.	DIRECTOR	25/10/2006	-	NA
9	LONGHLIN PTE LTD	DIRECTOR	11/04/1991	-	NA
10	LONGHLIN PTE LTD	MANAGING DIRECTOR	11/04/1991	-	NA
11	NAUVU INVESTMENTS PTE. LTD.	DIRECTOR	19/11/2007	-	NA
12	PERENNIAL (CHINA) RETAIL MANAGEMENT PTE. LTD.	DIRECTOR	12/07/2012	-	NA
13	PERENNIAL (SINGAPORE) RETAIL MANAGEMENT PTE. LTD.	DIRECTOR	30/10/2012	-	NA
14	PERENNIAL CHINA RETAIL TRUST MANAGEMENT PTE. LTD.	DIRECTOR	06/09/2011	-	NA
15	PERENNIAL REAL ESTATE HOLDINGS PTE. LTD.	DIRECTOR	13/04/2012	-	NA
16	PERENNIAL REAL ESTATE PTE. LTD.	DIRECTOR	06/11/2012	-	NA
17	SECURA FORMS PTE LTD	DIRECTOR	04/10/1994	-	NA
18	SECURA SINGAPORE PTE. LTD.	DIRECTOR	04/10/1994	-	NA
19	SWEE LEE HOLDINGS PTE LTD	DIRECTOR	09/05/2012	-	NA
20	WII PTE. LTD.	DIRECTOR	18/12/2007	-	NA
21	WILMAR AFRICA INVESTMENTS PTE. LTD.	DIRECTOR	29/11/2005	-	NA
22	WILMAR CONSULTANCY SERVICES PTE. LTD.	DIRECTOR	23/07/2009	-	NA
23	WILMAR INTERNATIONAL LIMITED	DIRECTOR	24/03/2006	-	NA
24	WILMAR SUGAR PTE. LTD.	DIRECTOR	08/11/2010	-	NA
25	WILMAR TRADING (CHINA) PTE. LTD.	DIRECTOR	25/01/2012	-	NA
26	WILMAR TRADING PTE LTD	MANAGING DIRECTOR	01/11/1994	-	NA

27	WILMAR TRADING PTE LTD	DIRECTOR	01/04/1991	-	NA
28	WILMAR-DELTA HOLDINGS PTE. LTD.	DIRECTOR	02/04/2008	-	NA

Previous Business

No.	Name	Status	Position	Appt Date	Last Known Inactive Date
1	ACALPO WILMAR PTE LTD	DISSOLVED - MEMBERS' VOLUNTARY WINDING UP	DIRECTOR	18/09/2002	25/01/2013
2	ADANI-WILMAR (SINGAPORE) PTE LTD	STRUCK OFF	DIRECTOR	08/03/1999	02/08/2003
3	ANALISA SHIPPING CO PTE LTD	LIVE COMPANY	DIRECTOR	13/01/1995	20/06/2003
4	BRANWELL PTE LTD	DISSOLVED - MEMBERS' VOLUNTARY WINDING UP	DIRECTOR	01/08/1995	01/08/1996
5	DELIGO PTE LTD	DISSOLVED - CREDITORS' VOLUNTARY WINDING UP	DIRECTOR	28/06/1999	21/09/1999
6	EBELIAN HOLDINGS PTE LTD	DISSOLVED - MEMBERS' VOLUNTARY WINDING UP	DIRECTOR	12/05/1994	01/03/2004
7	GOLD RIVER PTE. LTD.	LIVE COMPANY	DIRECTOR	19/01/2004	24/09/2004
8	GRAND SILVER LAIYANG SINGAPORE PTE LTD	STRUCK OFF	DIRECTOR	31/07/2001	06/06/2007
9	INOVA AUDIO VISUAL DESIGNS PTE LTD	LIVE COMPANY	DIRECTOR	31/10/2012	28/02/2013
10	KENSPOT INTERNATIONAL PTE LTD	LIVE COMPANY	DIRECTOR	12/07/2000	29/11/2006
11	LISA SHIPPING CO. PTE LTD	LIVE COMPANY	DIRECTOR	08/06/1993	20/06/2003
12	MONALISA SHIPPING CO PTE LTD	LIVE COMPANY	DIRECTOR	30/04/1999	20/06/2003
13	NANYANG CHINESE INVESTMENTS PTE LTD	DISSOLVED - MEMBERS' VOLUNTARY WINDING UP	DIRECTOR	11/11/1992	09/07/2002

14	NOREL-WILMAR PTE LTD	STRUCK OFF	DIRECTOR	26/03/2001	25/05/2005
15	NSL WILMAR PTE. LTD.	LIVE COMPANY	DIRECTOR	07/11/1996	31/08/2004
16	OLAM WILMAR INVESTMENT HOLDINGS PTE. LTD.	DISSOLVED - MEMBERS' VOLUNTARY WINDING UP	DIRECTOR	25/07/2008	25/06/2010
17	OPULENT INVESTMENTS PTE LTD	STRUCK OFF	DIRECTOR	14/11/1992	12/02/2003
18	SASA SHIPPING CO PTE. LTD.	LIVE COMPANY	DIRECTOR	20/02/1997	20/06/2003
19	SECURITY PRINTERS (S) PTE LTD	STRUCK OFF	DIRECTOR	04/10/1994	07/12/2007
20	THERESA SHIPPING CO PTE LTD	STRUCK OFF	DIRECTOR	30/03/1995	20/06/2003
21	TRADESOUND INVESTMENTS LIMITED	CEASED REGISTRATION	DIRECTOR	23/12/1992	28/12/2007
22	VIGRO PTE LTD	STRUCK OFF	DIRECTOR	15/06/1995	20/06/2003
23	VINOMAX TRADING PTE LTD	LIVE COMPANY	DIRECTOR	07/01/1997	08/02/2013
24	WCA PTE. LTD.	LIVE COMPANY	DIRECTOR	07/12/2010	20/09/2011
25	WCP INVESTMENTS PTE. LTD.	LIVE COMPANY	DIRECTOR	21/12/2007	05/10/2009
26	WCP INVESTMENTS PTE. LTD.	LIVE COMPANY	SHAREHOLDER	-	19/01/2012
27	WILMAR CHINA INVESTMENTS (YIHAI) PTE. LTD.	LIVE COMPANY	DIRECTOR	13/03/2003	01/09/2007
28	WILMAR CHINA INVESTMENTS PTE LTD	LIVE COMPANY	DIRECTOR	14/07/2000	26/03/2013
29	WILMAR CHINA NEW INVESTMENTS PTE. LTD.	LIVE COMPANY	DIRECTOR	07/11/2006	26/03/2013
30	WILMAR CHINA NORTHEAST INVESTMENTS PTE. LTD.	LIVE COMPANY	DIRECTOR	04/01/2002	01/09/2007
31	WILMAR FERTILIZER INDONESIA PTE LTD	LIVE COMPANY	DIRECTOR	28/02/1997	05/04/2013
32	WILMAR FUJIAN INVESTMENTS PTE LTD	LIVE COMPANY	DIRECTOR	16/05/1997	01/09/2007
33	WILMAR GOLDEN SEA INVESTMENT PTE LTD	LIVE COMPANY	DIRECTOR	10/11/1999	11/01/2013

34	WILMAR GREAT OCEAN INVESTMENT PTE LTD	LIVE COMPANY	DIRECTOR	29/05/2000	26/12/2012
35	WILMAR HOLDINGS PTE LTD	DISSOLVED - MEMBERS' VOLUNTARY WINDING UP	DIRECTOR	08/04/1991	-
36	WILMAR HOLDINGS PTE LTD	DISSOLVED - MEMBERS' VOLUNTARY WINDING UP	DIRECTOR	08/04/1991	06/02/2013
37	WILMAR HOLDINGS PTE LTD	DISSOLVED - MEMBERS' VOLUNTARY WINDING UP	MANAGING DIRECTOR	30/04/1991	-
38	WILMAR PLANTATIONS LIMITED	CEASED REGISTRATION	DIRECTOR	04/08/1992	26/02/2013
39	WILMAR RESOURCES PTE LTD	LIVE COMPANY	DIRECTOR	15/09/1997	24/01/2013
40	WILMAR SEED INVESTMENTS PTE. LTD.	LIVE COMPANY	DIRECTOR	03/04/2008	31/12/2011
41	WILMAR YIHAI CHINA HOLDINGS PTE. LTD.	LIVE COMPANY	DIRECTOR	08/08/2002	26/11/2012
42	WILMAR YIHAI FLOUR INVESTMENTS PTE. LTD.	LIVE COMPANY	DIRECTOR	24/06/2004	26/11/2012
43	WILMAR YIHAI INVESTMENTS PTE. LTD.	LIVE COMPANY	DIRECTOR	28/12/2001	01/09/2007

Bankruptcy Record

Case No.	Year	Date of Filing	Petitioner Name	Amount
No Trace

Litigation Search – Writ of Summons

Court	Case No.	Transfer	Year	Date of Filing	Amount	Cause Category
D	1277	-	1999	11/03/1999	SGD 81,000.00	Property Related

SUBSIDIARIES AND ASSOCIATE COMPANIES

Company	Shareholdings (%)
NA

BANKERS/ FINANCIERS

Subject enjoys a normal banking routine with its bankers. To date, there are no bank charges registered against Subject by its bankers.

LITIGATION

To date, there have been 2 litigation suits filed against Subject.

	Current Year On/After 01 Jan 2013	Past Years Bef 01 Jan 2013
Court (Claim under normal circumstances)
Magistrate (< $80,000)	0	1
District ($80,000 - $250,000)	0	0
High (>$250,000)	0	1
Winding Up Trace		No
In litigation/Dissolved/Struck Off/In receivership		No

The details are as follows:

1)	Court	:	Supreme Court
	Case No.	:	502
	Transfer	:	-
	Date of Filing	:	26/04/2001
	Amount	:	8,112,597.22
	Cause	:	Tort (General)
	Case Status	:	CONCLUDED
	Plaintiff	:	JIELONG SHIPPING (ST.VINCENT) CO LTD (ST.VINCENT AND THE GRANADINE
2)	Court	:	Magistrate Court
	Case No.	:	7561
	Transfer	:	-
	Date of Filing	:	21/04/1997
	Amount	:	0.00
	Cause	:	Contracts - General
	Case Status	:	CONCLUDED
	Plaintiff	:	KEY OCEAN SHIPPING PTE LTD

COMPLIANCE

Date of Last AGM	:	29/06/2012
Date of Last AR	:	02/07/2012
Date of A/C Laid At Last AGM	:	31/12/2011

COMPLIANCE RATING FOR ANNUAL FILING

ANNUAL GENERAL MEETING,ANNUAL RETURN AND ACCOUNTS UP-TO-DATE

Note:

Provided by ACRA (Accounting and Corporate Regulatory Authority), the Compliance Rating for Annual Filing measures a company’s compliance with the provisions under S175, S197 or S201 of the Companies Act, Cap. 50.

Applicable to all “Live” locally incorporated companies except for the Limited Partnerships, Limited Liability Partnerships, Business Entities, Foreign Companies and Public Accounting Firms, the rating provide information on whether a company is up-to-date with the holding of its Annual General Meeting (AGM) with up-to-date financial statements and filing of its Annual Return (AR).

For more information: www.acra.gov.sg/compliance

FINANCIAL HIGHLIGHTS

Financial Figures	Company
	DEC 2011	% Change	DEC 2010	DEC 2009	DEC 2008	DEC 2007
Currency	SGD - SIN		SGD - SIN	SGD - SIN	SGD - SIN	SGD - SIN
Profit and Loss Key Figures
Turnover	22,176,491,015	24.09	17,871,829,236	21,274,127,403	28,762,153,930	16,867,195,882
Profit/(Loss) Before Tax	392,900,610	-2.73	403,911,423	855,475,601	1,709,676,997	(8,022,472)
Profit After Tax attributable to Shareholders	373,151,126	-1.52	378,896,755	821,988,625	1,607,684,669	(8,022,472)
Balance Sheet Key Figures
Total Assets	3,925,092,865	-23.83	5,152,994,239	3,883,859,112	5,802,798,361	5,005,439,615
Current Assets	3,884,476,546	-23.97	5,109,432,549	3,873,190,077	5,796,821,471	4,999,519,303
Non Current Assets	40,616,319	-6.76	43,561,690	10,669,035	5,976,890	5,920,312
Total Liabilities	2,880,193,128	-31.78	4,221,937,792	2,480,707,828	3,725,521,459	4,771,428,053
Current Liabilities	2,877,712,359	-31.72	4,214,870,056	2,480,707,828	3,133,325,375	4,771,381,472
Non Current Liabilities	2,480,769	-64.90	7,067,736	0	592,196,084	46,581
Shareholders' Funds	1,044,899,736	12.23	931,056,447	1,403,151,284	2,077,276,902	234,011,561
Share Capital	251,090,000	-7.74	272,150,000	291,026,600	282,195,000	63,509,610
Total Reserves	793,809,736	20.47	658,906,447	1,112,124,684	1,795,081,902	170,501,951

FINANCIAL RATIOS

	Company
	DEC 2011	DEC 2010	DEC 2009	DEC 2008	DEC 2007
Growth %
Year-on-Year Growth	24.09	-15.99	-26.03	70.52	NA
Profitability
Profit Margin (%)	1.68	2.12	3.86	5.59	-0.05
Return on Equity (%)	35.71	40.70	58.58	77.39	-3.43
Return on Assets (%)	9.51	7.35	21.16	27.71	-0.16
Leverage
Total Debt/Equity (Times)	2.76	4.53	1.77	1.79	20.39
Current Debt/Equity (Times)	2.75	4.53	1.77	1.51	20.39
Long Term Debt To Equity (Times)	0.00	0.01	0.00	0.29	0.00
Total Asset To Total Equity (Times)	3.76	5.53	2.77	2.79	21.39
Asset Management
Total Assets Turnover (Times)	5.65	3.47	5.48	4.96	3.37
Fixed Assets Turnover (Times)	546.00	410.26	1,994.01	4,812.23	2,849.04
Liquidity
Current Ratio (Times)	1.35	1.21	1.56	1.85	1.05

FINANCIAL COMMENTARY

Compound Annual Growth Rate

The company's CAGR is 7.08% (4 years).

CAGR is the year-over-year growth rate of a company over a specified period. Instead of looking at the average growth rate, CAGR allow users to look at the annualized growth rate of a company over a given period, a more indicative measure of growth of a company’s performance over a given period.

Profitability

The company yielded a rate of net profit on sales of 1.68 per cent in FY11 (FY10: 2.12 per cent). The company is now able to book in SGD - SIN 0.02 of profit for every SGD - SIN of sales in FY11, as compared with SGD - SIN 0.02 a year ago.

Liquidity

Current ratio stood at 1.35 times in FY11 (FY10: 1.21 times). This means that the company has SGD - SIN 1.35 of current assets for every SGD - SIN of current liability incurred.

A minimum figure of 1.0 would be considered the lowest limit that this figure should reach. Any business that has a current ratio near 1.0 may be heading for liquidity problems, and would need to be closely monitored. A figure greater than 2.0 would be more desirable, to act as a buffer against any short-term liquidity problems, and give creditors/bank managers a degree of comfort when granting credit/finance.

FINANCIAL COMMENTARY

Leverage

Total debt-to-equity ratio notched 2.76 times in FY11, as compared with 4.53 times in FY10. This means that the company requires additional external financing of SGD - SIN 2.76 for every SGD - SIN injected into its operations.

Generally, a total debt-to-equity ratio of less than 0.5 times is preferred. The ratio measures the proportion of the company's reliance on external debt for financing, relative to the shareholder's fund. A lower ratio would imply a greater financial safety and operating freedom for the company.

Efficiency Ratio

Return on equity was 35.71 per cent for Subject in the current financial period, as compared to 40.70 per cent a year ago. The return on equity measures the return earned on the owner's investment. Generally, the higher this return, the better off the owner.

Return on assets stood at 9.51 per cent (FY10: 7.35 per cent). The return on asset measures the overall effectiveness of management in generating profit with its available assets.

Total assets turnover ratio logged at 5.65 times in FY11 (FY10: 3.47 times). This ratio measures the company's ability to make productive use of its total assets to generate sales which reflects the efficiency of the management in utilising its resources.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.54.24
UK Pound	1	Rs.84.29
Euro	1	Rs.71.36

INFORMATION DETAILS

Report Prepared by :

SDA

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.