MIRA INFORM REPORT

Report Date :

15.05.2013

IDENTIFICATION DETAILS

Name :	OBSCHESTVO S OGRANICHENNOY OTVETSTVENNOSTYU IMPRUSS
Registered Office :	Vitebskiy prosp., 11, liter S, St.-Petersburg, 195105
Country :	Russia
Financials (as on) :	01.01.2012
Date of Incorporation :	04.08.2011
Com. Reg. No.:	1117847322592
Legal Form :	Limited Liability Company
Line of Business :	Sales of equipment for the collection and processing of mixed waste and packaging materials
No. of Employees :	3 on May, 13, 2013 (company's data)

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 :	Slow but Correct
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 and the telephone number mentioned in your inquiry belong to the company Obschestvo s ogranichennoy otvetstvennostyu "IMPRUSS" (name in English: "IMPRUSS" LIMITED LIABILITY COMPANY). We provide the report on this company.

Summary

Original Name	Obschestvo s ogranichennoy otvetstvennostyu "IMPRUSS"
Legal Form	OOO (Limited Liability Company by Russian Law)
Year of Foundation	2011
Sales	381 th RUR for 12 months, ended 01.01.2012
Employees	3 on May, 13, 2013 (company's data)

Company Identification Details

Original Name	Obschestvo s ogranichennoy otvetstvennostyu "IMPRUSS"
Short Name	OOO "IMPRUSS"
Name in English	"IMPRUSS" LIMITED LIABILITY COMPANY
Address	Vitebskiy prosp., 11, St.-Petersburg, 195105, Russian Federation
Legal Address	Vitebskiy prosp., 11, liter S, St.-Petersburg, 195105, Russian Federation
Phone	+7 (921) 9791168, 7294284 +7 (812) 6401393
Fax	+7 (921) 9791168 +7 (812) 3878057
E-mail	info@altopeco.ru
WEB Address	www.altopeco.ru

Official Company Data

Legal Form	OOO (Limited Liability Company by Russian Law)
Date of Registration	04.08.2011
Registration Number	1117847322592
Statistic Code (OKPO)	92016575
Taxpayer Code (INN)	7810835804
Registration Authority	Federal Tax Service of Russian Federation

Public Record Information

Information

The company Obschestvo s ogranichennoy otvetstvennostyu "IMPRUSS" was not included in the published list of bankrupt companies.

Share Capital

Current Share Capital

10 000 RUR

Shareholders

Total	1 private person
Shareholder	Ms Sinitsyna Yuliya Anatol'evna
Nationality	Russian Federation
Taxpayer Code (INN)	780702583628
Share	100 %

Directors

Director	Ms Sinitsyna Yuliya Anatol'evna
	Signature Right
Nationality	Russian Federation
Taxpayer Code (INN)	780702583628

Operations

Activities	Sales of equipment for the collection and processing of mixed waste and packaging materials.
Staff Employed	3 on May, 13, 2013 (company's data)

Real Estate

Own	None
Rent	Office, warehouse Address: Vitebskiy prosp., 11, St.-Petersburg, 195105, Russian Federation (company's data)

Export & Import

Export Countries	2011-2012: No Export Activity
Exported Goods	none
Export Value	none
Import Countries	2012: Netherlands, Estonia, Poland, Ukraine 2011: China
Imported Goods	polyethylene, packing materials, equipment
Import Value	in 2012: 437 338 USD in 2011: 130 979 USD

Branches

Branch

None

Participation

Information

None

Related Companies

Information

Ms Sinitsyna Yuliya Anatol'evna is also a shareholder of company OOO "GRUZOVYE LINII SANKT-PETERBURG" Registration number: 1089848010768

Financial Data

Profit and Loss (extract)

The following figures are shown in units of 1000

Period, months	12
Ended	01.01.2012
Currency	RUR
SALES	381
Cost of Goods sold
GROSS PROFIT	381
Distribution Costs	303
Management Costs
OPERATING PROFIT	78
Non Trading Income	-56
PRE TAX PROFIT	22
Taxation	5
PROFIT AFTER TAX	17

Balance Sheet (extract)

The following figures are shown in units of 1000

As at	01.01.2012
Currency	RUR
TOTAL FIXED ASSETS
Intangible Assets
Fixed Assets
TOTAL CURRENT ASSETS	228
Stock
Trade debtors	206
Cash	22
TOTAL ASSETS	228
TOTAL EQUITY	27
Share Capital	10
Retained Profits	17
TOTAL LONG TERM LIABS
Long Term Loans
TOTAL CURRENT LIABS	201
Short Term Loans
Short Term Trade Creditors	201
TOTAL EQUITY & LIABS	228

Key Credit Ratios

The following figures are shown as Ratios or Percentages

Accounts Date	01.01.2012
Current Ratio	1,13
Working Capital, x1000 RUR	27
Quick Ratio	1,13
Debt to Equity Ratio	7,44
Current Assets Turnover	1,67
Total Assets Turnover Ratio	1,67
Pre Tax Profit Margin, %	5,77
Gross Profit, %	100
Return on Investment, %	81,48
Return on Assets, %	9,65

Clients & Suppliers

Suppliers

TRIOPLAST SMS SAS (France) WKI ISOLIERTECHNIK GMBH (Germany) OOO "KHEMMEL'-UKRAINA" (Ukraine) EKSPERTINFO OU (Estonia) YUYAO HUALUN IMPORT AND EXPORT 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

According to Arbitration court of Moscow judicial claims of the company are not registered.

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 Ms Sinitsyna Yuliya Anatol'evna (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	as at 01.01.2012
I. NON-CURRENT ASSETS
Intangible assets	110	-	-
Fixed assets	120	-	-
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	-	-
II. CURRENT ASSETS
Inventories	210	-	-
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	-	-
other supplies and expenditures	217	-	-
Value added tax on purchased goods	220	-	-
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	-	206
including :
buyers and customers	241	-	-
Short-term investments	250	-	-
Monetary assets	260	-	22
Other current assets	270	-	-
Total section II	290	-	228
TOTAL SECTIONS I and II	300	-	228
EQUITY AND LIABILITIES
III. EQUITY AND RESERVES
Share capital	410	-	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	-	17
Total section III	490	-	27
IV. NON-CURRENT LIABILITIES
Borrowings	510	-	-
Deferred tax liabilities	515	-	-
Other non-current liabilities	520	-	-
Total section IV	590	-	-
V. CURRENT LIABILITIES
Borrowings	610	-	-
Accounts payable	620	-	201
including :
suppliers and contractors	621	-	-
salaries payable	622	-	-
payable to state non-budget funds	623	-	-
taxes payable	624	-	-
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	-	201
TOTAL SECTIONS III,IV,V	700	-	228

PROFIT AND LOSS ACCOUNT

The following figures are shown in units of 1000

PARAMETER	Line code	01.01.2012
INCOME FROM AND EXPENSES ON ORDINARY ACTIVITIES
Sale of goods, products, work, services (less VAT, excise tax, other similar mandatory payments)	010	381	-
Cost of goods, products, work, services sold	020	-	-
Gross profit	029	381	-
Selling expenses	030	303	-
Administrative expenses	040	-	-
Profit (loss) from operations	050	78	-
OTHER INCOME AND EXPENSES
Interest income	060	-	-
Interest expenses	070	-	-
Income from investments in other companies	080	-	-
Other operating income	090	122	-
Other operating expenses	100	178	-
Non-operating income	120	-	-
Non-operating expenses	130	-	-
Profit (loss) before profit tax	140	22	-
Deferred tax assets	141	-	-
Deferred tax liabilities	142	-	-
Current profit tax	150	5	-
Net profit (loss) for the reporting period	190	17	-

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.54.63
UK Pound	1	Rs.83.67
Euro	1	Rs.71.02

INFORMATION DETAILS

Report Prepared by :

MNL

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.