MIRA INFORM REPORT

Report Date :

04.10.2013

IDENTIFICATION DETAILS

Name :	YUGIMPORTTORG, LLC
Registered Office :	29B Gazety Pravda ave., Dnipropetrovsk, Dnipropetrovsk region, 49083
Country :	Ukraine
Financials (as on) :	30.06.2012
Date of Incorporation :	24.02.2010
Com. Reg. No.:	36955815
Legal Form :	Limited Liability Company
Line of Business :	· Agents involved in the sale of furniture, household goods, hardware and ironmongery Retail sale of furniture, lighting equipment and household articles
No. of Employees :	12 (31.12.2012)

RATING & COMMENTS

MIRA’s Rating :

C

RATING		STATUS	PROPOSED CREDIT LINE
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended

Status :	Poor
Payment Behaviour :	Unknown
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 YUGIMPORTTORG

Name in English

:

YUGIMPORTTORG, LLC

Name in national language

:

Товариство з обмеженою відповідальністю ЮГІМПОРТТОРГ

Office Address

:

Ukraine

Not traced, please see Final comments.

Legal Address

:

29B Gazety Pravda ave., Dnipropetrovsk, Dnipropetrovsk region, 49083, Ukraine

Address in english: 29B Newspaper Pravda ave

Contacts

:

n/a

SUMMARY

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

Incorporation : 2010

Staff : n/a

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

Sales :	30 933.30 th UAH ( for 6 months, ended 30.06.2012 )
	70 292.00 th UAH ( for 12 months, ended 31.12.2011 )

Incorporation

:

2010

Registration Data

Date of registration

:

24.02.2010

Registration number

:

36955815

Registr. authority

:

Local Administration (Ovidiopol, Odessa region, Ovidiopolskiy district, Ukraine)

VAT number

:

369558104617

Registr. place

:

Ukraine

Number of VAT-certificate: 100348952 Date of issue: 23.08.2011

Legal Form

:

TOV (Limited Liability Company by Ukrainian Law)

since 24.02.2010

Share Capital

:

870 UAH (registered)

since 24.02.2010

Shareholders

:

-	Mrs Boklazhenko Vita Valeryevna (Ukraine)				100.00 %
		share's book value	:	870 UAH

Board / Executives

Executives

Director

:

Mrs Boklazhenko Vita Valeryevna (Ukraine)

Authorised signature

:

Mrs Boklazhenko Vita Valeryevna

Changes in Registration Data

- 08.12.2010

:

legal address, managers, authorised signature

Activities

:

-	502	Furniture and Home Furnishings
		(NACE 5115: Agents involved in the sale of furniture, household goods, hardware and ironmongery)
-	57	FURNITURE AND HOME FURNISHINGS STORES
		(NACE 5244: Retail sale of furniture, lighting equipment and household articles n.e.c.)

Official data.

Staff employed

:

n/a

There is no current information in the official sources.

Staff History

:

-	12
	( the data as of 31.12.2012 )

Export

- 01.12.2012

:

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

140 677.00

Import

- 01.04.2013

:

Fiscal period: 3 month(s), currency: UAH

278 267 447.00

China Peoples Republic, Uruguay, Poland, Turkey, Germany

- 01.12.2012

:

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

680 827 661.00

Subsidiaries and Participation

:

n/a

Bankers

:

Registration file does not contain this information.

Suppliers

:

-	ENPLAST PLASTIK KIMYA SANAYI VE TICARET A.S. (Turkey)
-	JINHUA WANDELONG BUSINESS DEVELOPMENT CO.,LTD(China Peoples Republic)
-	LION Aussenhanolels Service GmbH (Germany)
-	PENNINGTON CONSULTING S.A (Uruguay)
-	Sklad Celny OSCAR (Poland)

Litigation

:

Generally in the DB of the Unified State Register of the Legal Judgements data the subject company has been involved as a claimant into 6 litigation processes in the period from 10.12.2012 up to 30.07.2013.

According to the data of Bulletin of the State Registration as of 01.10.2013, there are no bankruptcy registered in the name of the subject company.

Remarks on payment

:

No official information is available according to the Ukrainian legislation.

Financial Elements

Period, months	6	12
Ended	30.06.2012	31.12.2011
Currency	UAH th	UAH th
===== BALANCE SHEET ====================
--- A S S E T S --------------------
NON-CURRENT ASSETS
- Intangible assets
- Fixed assets	97.00	16.10
- Investments in tangible assets
- Financial assets	0.00	0.00
- Other non-current assets	0.00	0.00
Non-current assets total	97.00	16.10
CURRENT ASSETS
- Stock	45 677.50	38 866.20
- Debtors	76 877.80	37 364.50
- Other receivables	3 148.90	2 501.70
- Short-term financial investments	0.00	0.00
- Cash	1 106.50	299.70
- Other current assets	0.00	289.80
Current assets total	126 810.70	79 321.90
Assets total	126 907.70	79 338.00
--- EQUITY AND LIABILITIES ---------
CAPITAL AND RESERVES
- Share capital	0.90	0.90
- Additional capital	0.00	0.00
- Other capital	0.00	0.00
- Reserve capital	0.00	0.00
- Retained earnings (Non-covered loss)	712.00	479.00
Capital and reserves total	712.90	479.90
Provisions	0.00	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
SHORT-TERM LIABILITIES
- Loans and credits	39 394.10	35 666.00
- short-term amounts owed to banks	39 394.10	35 666.00
- Creditors	86 800.70	43 192.10
- trade debts	86 795.90	43 187.50
- accrued payroll	4.80	4.60
- tax liabilities	0.00	0.00
- other creditors
- advances received
- Dividends in arrears
- Accrued income, deferred charges	0.00	0.00
- Other short-term liabilities	0.00	0.00
Short-term liabilities total	126 194.80	78 858.10
Liabilities total	126 194.80	78 858.10
Equity and liabilities total	126 907.70	79 338.00
===== PROFIT AND LOSS ACCOUNT ==========
ORDINARY ACTIVITY INCOME AND CHARGES
Net sales	30 933.30	70 292.00
Cost of goods sold	30 555.20	69 685.00
Gross profit
Distribution costs	109.40	0.00
Administrative and management costs
Profit on sales
OPERATING INCOME AND CHARGES
Interest receivable
Interest payable
Income from participating interests
Other operating income	38.90	14.00
Other operating charges	12.70	0.00
Operating profit
INVESTMENT INCOME AND CHARGES
Investment income less charges
Profit before taxation	294.90	621.00
Income-tax and other similar payments	61.90	142.00
Profit (loss) from ordinary activity
Extraordinary income less charges
Net profit	233.00	479.00
- - - - - - - KEY RATIOS - - - - - - -
Return on sales, %	0.95	0.88
Profit before taxation / Net sales
Operating margin of profit, %
Operating profit / Net sales
Return on investment, %	41.37	129.40
Profit before taxation / Equity
Current assets turnover	0.24	0.89
Net sales / Current assets
Working capital	615.90	463.80
Current assets - Short-term liabilities
Leverage	0.01	0.01
Equity / Total assets
Current ratio	1.00	1.01
Current assets / Short-term liabilities
Quick ratio	0.64	0.51
(Current assets - Stock) / Short-term liabilities
Debt-to-equity ratio	177.02	164.32
Total liabilities / Equity

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

FINAL COMMENTS

The information provided in this report has been collected from all the sources available. We have not managed to trace the contact data of the subject. The search results: 1. There was no phone number mentioned in your order. 2. There were no contact numbers included in the company’s registration files. 3. There was no company’s contact data found in phone/address directories/Internet. 4. The subject company is not listed in city on-line services/phone/address directories. There were no any other contact details found. We have sent our letter of inquiry to the legal address. No answer has come in to us by now. If we receive the reply from the subject, we will update this report. Index code 449083 mentioned in your order is incorrect. Correct index is 49083.

APPENDIX A

Financial Statements

Period, months	6	12
Ended	30.06.2012	31.12.2011
Currency	UAH th	UAH th
SMALL ENTREPRENEUR's PROFIT AND LOSS
ACCOUNT (s)
010 Sales revenue (Income from sales of goods, work,	37 119.90	84 712.00
services
020 Indirect taxes and other compulsory payments	6 186.60	14 420.00
030 Net sales revenue (010-020)	30 933.30	70 292.00
040 Other operating income	26.20	0.00
050 Other income	12.70	14.00
070 Net revenue total (030+040+050)	30 972.20	70 306.00
080 Cost of goods, works, services	30 555.20	69 685.00
090 Other operating charges	109.40	0.00
091 incl.
092
100 Other charges	12.70	0.00
120 Charges total (080+090+100)	30 677.30	69 685.00
130 Profit before taxation (070-120)	294.90	621.00
140 Profit tax	61.90	142.00
150 Net profit (130-140)	233.00	479.00
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
BALANCE SHEET
ASSETS
I. NON-CURRENT ASSETS
020 Construction in progress	0.00	0.00
Fixed assets
030 residual assets	97.00	16.10
031 acquisition cost	109.70	19.30
032 depreciation	12.70	3.20
Long-term biological assets
035 residual assets
036 acquisition cost
037 depreciation
040 Long-term financial investments	0.00	0.00
070 Other non-current assets	0.00	0.00
080 NON-CURRENT ASSETS TOTAL	97.00	16.10
II. CURRENT ASSETS
Stock
100 Raw materials, consumables and supplies	3.70	5.30
110 Current biological assets
130 Finished goods	45 673.80	38 860.90
Trade debtors:
160 net realizable value	76 877.80	37 364.50
161 acquisition cost	76 877.80	37 364.50
162 doubtful debts reserve	0.00	0.00
Accounts receivable
170 Budget accounts receivable	0.00	0.00
210 Other current accounts receivable	3 148.90	2 501.70
220 Current financial investments	0.00	0.00
Cash at bank and in hand
230 Funds in local currency	1 106.50	299.70
231 incl. cash in hand
240 Funds in foreign currencies	0.00	0.00
250 Other current assets	0.00	289.80
260 CURRENT ASSETS TOTAL	126 810.70	79 321.90
270 III. DEFERRED CHARGES	0.00	0.00
275 IV. NON-CURRENT ASSETS HELD FOR SALE
280 ASSETS TOTAL	126 907.70	79 338.00
EQUITY AND LIABILITIES
I. CAPITAL AND RESERVES
300 Authorized capital	0.90	0.90
320 Additional contributed capital	0.00	0.00
340 Reserve capital	0.00	0.00
350 Retained earnings (loss)	712.00	479.00
360 Unpaid capital (minus)	0.00	0.00
380 CAPITAL AND RESERVES TOTAL	712.90	479.90
430 II. PROVISIONS OF DEFERRED CHARGES	0.00	0.00
AND TARGETED FUNDING
480 III. LONG-TERM LIABILITIES	0.00	0.00
IV. SHORT-TERM LIABILITIES
500 Short-term amounts owed to credit institutions	0.00	0.00
510 Short-term portion of long-term liabilities	39 394.10	35 666.00
530 Trade creditors	86 795.90	43 187.50
Accounts payable:
550 Budget accounts payable	0.00	0.00
570 Insurance payments	0.00	0.00
580 Accrued payroll	4.80	4.60
605 Liabilities connected with non-current assets held
for sale
610 Other short-term liabilities	0.00	0.00
620 SHORT-TERM LIABILITIES TOTAL	126 194.80	78 858.10
630 V. DEFERRED INCOME	0.00	0.00
640 EQUITY AND LIABILITIES TOTAL	126 907.70	79 338.00

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.93
UK Pound	1	Rs.100.44
Euro	1	Rs.84.24

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.