MIRA INFORM REPORT

Report Date :

19.08.2014

IDENTIFICATION DETAILS

Name :	MLINAJA D.O.O.
Registered Office :	Usnjarska Cesta 8, 1241 Kamnik,
Country :	Slovenia
Financials (as on) :	31.12.2013
Date of Incorporation :	01.07.2013
Legal Form :	Limited liability company
Line of Business :	Manufacture and wholesale of clothing and footwear
No. of Employees	Not Available

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 – June 1, 2014

Country Name	Previous Rating (31.03.2014)	Current Rating (01.06.2014)
Slovenia	B1	B1

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

SLOVENIA ECONOMIC OVERVIEW

With excellent infrastructure, a well-educated work force, and a strategic location between the Balkans and Western Europe, Slovenia has one of the highest per capita GDPs in Central Europe. Slovenia became the first 2004 European Union entrant to adopt the euro (on 1 January 2007) and has experienced one of the most stable political transitions in Central and Southeastern Europe. In March 2004, Slovenia became the first transition country to graduate from borrower status to donor partner at the World Bank. In 2007, Slovenia was invited to begin the process for joining the OECD; it became a member in 2012. However, long-delayed privatizations, particularly within Slovenia’s largely state-owned and increasingly indebted banking sector, have fueled investor concerns since 2012 that the country would need EU-IMF financial assistance. In 2013, the European Commission granted Slovenia permission to begin recapitalizing ailing lenders and transferring their nonperforming assets into a “bad bank” established to restore bank balance sheets. Yield-seeking bond investors’ strong demand for Slovenian debt helped the government in 2013 to continue to finance itself independently on international markets. The government has embarked on a program of state asset sales intended to bolster investor confidence in the economy, which in 2014 is poised to contract 1%, its third-year of recession.

Source : CIA

Company name and address

MLINAJA D.O.O.

Usnjarska cesta 8, 1241 Kamnik, Slovenia

Phone: 041 698 774

E-Mail: andreja.hribernik@urko.si

Web: www.urko.si

Company summary

Legal form Limited liability company (Ltd.)

Established on 01/07/2013 - d.o.o. - Limited liability company (Ltd.)

last entry on 23.01.2014

on 23.01.2014 change of registered address from Šutna 76,

Kamnik to Usnjarska cesta 8, Kamnik

on 22.07.2013 change of registered address from Groharjeva

ulica 16, Kamnik to Šutna 76, Kamnik

Registered on 01/07/2013, Ljubljana, Registration number:

Tax number: SI16249968

Company number: 6397379

Registered EUR 7.500,00

capital

Owner 4MORE d.o.o. (Statistical number: EUR 3.750,00

6277853)

Usnjarska cesta 8, 1241 Kamnik

Yidong Chen EUR 3.750,00

Jinyang 3rd street, 510600

Guangzhou, China

Manager Andreja Hribernik

Na jasi 13a, 1241 Kamnik

director

Antonija Uršiè

Parapatova ulica 5, 1241 Kamnik

confidential clerk

General data

COMPANY ACTIVITY:

Manufacture and wholesale of clothing and footwear

own trademarks: Urko, 4more

significant customers:

Baby center, Mercator, Spar

headquarters and business premises are located on the address

above

Main activity:

Wholesale of clothing and footwear (NACE 2)

Import:

Bangladesh

China

Residence address:

Usnjarska cesta 8, 1241 Kamnik

Phone:

041 698 774

E-Mail:

andreja.hribernik@urko.si

Web:

www.urko.si

Employees 2013 0 employees

2014 0 employees

(only on contract)

Annual turnover 2013 Enterprise turnover EUR 62.689,-

Remarks company name:

MLINAJA, podjetje za storitve, d.o.o.

linked companies are

MI-U d.o.o. (company nu.6059988)

SKG d.d. - v steèaju (company nu.5080584)

the company is only active since July 2013

Bank relations SBERBANK d.d.:

Central address: SI Dunajska cesta 128a, 1000 Ljubljana

Account number: SI56 3000 0001 0814 566

Terms of Mostly within agrees terms, but partly also (32)

payment delayed

Business Business connection appear premissable (31)

connection

financial data

BALANCE SHEET

A. The enclosed balance of 2013 is originated from official source, it is not

authenticated by the auditor. (31.12.2013 - 1 EUR)

BALANCE A B C D

31.12.2013

ASSETS (AKTIVA) 105.287

LONG-TERM ASSETS 608

Intangible assets and 0

long-term deferred costs

and accrued revenues

Intangible assets 0

Long-term deferred costs 0

and accrued revenues

Tangible fixed assets 608

Long-term financial 0

investments and Real

estate investments

Investment property 0

Long-term financial 0

investments

Long-term operating 0

receivables

Deferred receivables for 0

taxes

>SHORT-TERM ASSETS >104.679

Assets (group for 0

estrange) for sell

Inventories 51.104

Short-term financial 7.470

investments

Short-term operating 30.877

receivables

Cash assets 15.228

>Short-term deferred >0

costs and accrued revenues

Off-balance sheet items 0

>LIABILITIES >105.287

>CAPITAL >8.622

Called-up capital 7.500

Basic (subscribed) capital 7.500

Non called-up capital 0

(deductive item)

Capital reserves 0

Reserves from profit 0

Surplus from revaluation 0

Retained net 0

Net business result for 1.122

the business year

>PROVISIONS AND LONG-TERM >0

ACCRUED COSTS AND

DEFERRED REVENUES

>FINANCIAL AND BUSINESS >96.665

LIABILITIES

LONG-TERM LIABILITIES 0

Long-term financial 0

liabilities

Long-term operating 0

liabilities

Deferred liabilities for 0

taxes

>SHORT-TERM LIABILITIES >96.665

Liabilities, included in 0

groups for estrange

Short-term financial 25.486

liabilities

Short-term operating 71.179

liabilities

SHORT-TERM ACCRUED COSTS 0

AND DEFERRED REVENUES

Off-balance sheet items 0

PROFIT AND LOSS ACCOUNT

A. The enclosed profit and loss account of 2013 is originated from official

source, it is not authenticated by the auditor. (31.12.2013 - 1 EUR)

profit and loss account A B C D

31.12.2013

>Net sales >62.689

>Changes in the value of >0

inventories of products

and work-in-process

>Capitalised own products >0

and own services

>Other operating revenues >0

(with subventions,

grants,...)

>GROSS OPERATING YIELD >62.689

>Cost of goods, material >61.269

and services

Purchase value of goods 48.962

and materials sold and

cost of material and cost

of material used

Cost of services 12.307

>Labour cost >0

Cost of wages 0

Cost of pension insurance 0

Cost of other social 0

insurance

Other labour cost 0

>Write-offs >0

Depreciation 0

Revaluation operating 0

expenses for non-tangible

assets and tangible fixed

assets

Revaluation operating 0

expenses for current

assets

Other operating expenses 0

OPERATING REVENUES 62.689

>OPERATING EXPENSES >61.269

>OPERATING RESULT >1.420

>EBIT >1.420

Financial income from 0

investments in other

enterprises

Financial income from 0

loans

Financial income from 0

operating receivables

Financial expenses from 0

depreciation and write-

offs of financial

investments

Financial expenses from 0

financial liabilities

Financial expenses from 118

operating liabilities

Financial income 0

Financial expenses 118

Other revenues 0

Other expenses 0

Total revenues 62.689

>Total costs >61.387

Total business result 1.302

>Tax on profit >180

Deferred taxs 0

Net business result for 1.122

the accounting period

Ratios

2013

Equity ratio 0,07

Cleared equity ratio 0,07

Current liquidity 1,08

Quick liquidity 0,55

Working capital 8014

Gearing 14,04

Cleared gearing 3,4

Profitability 2,08

Operating profitability 1,79

Stock days 298

Debtor days 180

Supplier days 414

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.06
UK Pound	1	Rs.101.84
Euro	1	Rs.81.56

INFORMATION DETAILS

Analysis Done by :	SUB
Report Prepared by :	NIS

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.