MIRA INFORM REPORT

Report Date :

23.12.2014

IDENTIFICATION DETAILS

Name :	PROMO TRADE B.V.
Operative Office :	Apolloweg 34, 8239DA Lelystad
Country :	Netherlands
Financials (as on) :	31.12.2012
Date of Incorporation :	17.02.2003
Com. Reg. No.:	39081907
Legal Form :	Private Company
Line of Business :	Subject is specializes in Flevoland in Premiums, Corporate Gifts, Promotional Clothing and Christmas Gifts Subject product ranges includes:- · Corporate Gifts · Premiums · Promotional Textile · Specials · Green Products
No of Employees :	05 (2014)

RATING & COMMENTS

MIRA’s Rating :

Ba

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
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 – September 30, 2014

Country Name	Previous Rating (30.06.2014)	Current Rating (30.09.2014)
Netherlands	a1	a1

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

Netherlands ECONOMIC OVERVIEW

Netherlands is the sixth-largest economy in the euro-zone and is noted for its stable industrial relations, moderate unemployment and inflation, sizable trade surplus, and important role as a European transportation hub. Industrial activity is predominantly in food processing, chemicals, petroleum refining, and electrical machinery. A highly mechanized agricultural sector employs only 2% of the labor force but provides large surpluses for the food-processing industry and for exports. Netherlands, along with 11 of its EU partners, began circulating the euro currency on 1 January 2002. The Dutch financial sector suffered as a result of the global financial crisis, due in part to the high exposure of some Dutch banks to US mortgage-backed securities. In 2008, the government nationalized two banks and injected billions of dollars of capital into other financial institutions, to prevent further deterioration of a crucial sector. After 26 years of uninterrupted economic growth, the Dutch economy - highly dependent on an international financial sector and international trade - contracted by 3.5% in 2009. To recover, the government sought to boost the domestic economy by accelerating infrastructure programs, offering corporate tax breaks for employers to retain workers, and expanding export credit facilities. The stimulus programs and bank bailouts, however, resulted in a government budget deficit of 5.3% of GDP in 2010 that contrasted sharply with a surplus of 0.7% in 2008. The government of Prime Minister Mark RUTTE began implementing austerity measures in early 2011, mainly reducing expenditures, which resulted in an improved budget deficit in 2011. However, in 2012 tax revenues dropped, GDP contracted, and the budget deficit deteriorated. In 2013, the government budget deficit decreased to 3.3% of GDP due to increased government revenue from higher taxes. However, spending on social benefits also increased, due to a rise in unemployment benefits and payments for pensions. The high unemployment rate and tax increases have contributed to continued decreases in household disposable income, causing the Dutch economy to contract.

Source : CIA

Summary

Company name Promo Trade B.V.

Operative address Apolloweg 34

8239DA Lelystad

Netherlands

Risk Average risk

Status Active

Legal form Besloten Vennootschap (Private company)

Registration number KvK-nummer: 39081907

VAT-number 817351966

Year	2012 Mutation	Mutation	2010
Fixed assets	47.714	-100,00	84.848
Total receivables	239.008	-100,00	244.516
Total equity	102.165	-100,00	58.659
Short term liabilities	147.627	-100,00	259.099
Working capital	154.451	-100,00	73.811
Quick ratio	1,89	-100,00	1,21

Contact information

Company name Promo Trade B.V.

Trade names Promo Trade B.V.

Operative address Apolloweg 34

8239DA Lelystad

Netherlands

Correspondence address Postbus 396

8200AJ Lelystad

Netherlands

Telephone number 0320223467

Fax number 0320230282

Mobile number 0651208508

Email address info@promo-trade.nl

Website www.promo-trade.nl

Registration

Registration number KvK-nummer: 39081907

Branch number 000017354358

VAT-number 817351966

Status Active

First registration

company register 2006-11-08

Memorandum 2006-11-03

Establishment date 2003-02-17

Legal form Besloten Vennootschap (Private Company)

Issued placed capital EUR 18.000

Paid up share capital EUR 18.000

Activities

Subject is specializes in Flevoland in Premiums, Corporate Gifts, Promotional Clothing and Christmas Gifts

Exporter Yes

Importer Yes

Goal Het uitoefenen van een groothandel in kerstpakketten, relatiegeschenken en alles wat

daarmee verband houdt.

(Exercising a wholesale Christmas hampers, gifts and everything related to it.)

Relations

Shareholders DXS Holding B.V.

Botter 37 24

8243KC LELYSTAD

Netherlands

Registration number: 390961280000

Percentage: 100%

Management

Active management DXS Holding B.V.

Botter 37 24

8243KC LELYSTAD

Netherlands

Registration number: 390961280000

Competence: Fully authorized

Function: General Director

Starting date: 2006-11-03

Employees

Year 2014 2012 2011 2010 2009

Total 5 5 5 5 5

Payments

Description Payments are made regularly no complaints are known

Key figures

Year	2012	2010	2009		2008
Quick ratio	1,89	1,21	1,35		1,33
Current ratio	2,05	1,28	1,50		1,39
Working capital/ balance total	0,44	0,18	0,24		0,20
Equity / balance total	0,29	0,14	0,26		0,25
Equity / Fixed assets	2,14	0,69	0,96		0,92
Equity / liabilities	0,41	0,16	0,34		0,33
Balance total / liabilities	1,41	1,16	1,34		1,33
Working capital	154.451	73.811	96.226		90.351
Equity	102.165	58.659	100.366		109.043
Mutation equity	---	-41,55	-7,96	55,84
Mutation short term liabilities	---	34,49	-17,73	-33,59

Summary

The 2012 financial result structure is a positive working capital of 154.451 euro, which is in

agreement with 44 % of the total assets of the company.

The current ratio of the company in 2012 was 2.05. A company with a current ratio between

1.5 and 3.0 generally indicates good short-term financial strength.

The quick ratio in 2012 of the company was 1.89. A company with a Quick Ratio of more than

1 can currently pay back its current liabilities.

Financial statement

Last annual account 2012

Remark annual account The company is obliged to file its financial statements.

Type of annual account Corporate

Annual account Promo Trade B.V.

Apolloweg 34

8239DA Lelystad

Netherlands

Registration number: 390819070000

Balance Sheet

Year	2012	2010	2009	2008
End date	2012-12-31	2010-12-31	2009-12-31	2008-12-31
Intangible fixed assets	40.333	62.333	73.333	84.333
Tangible fixed assets	7.381	22.515	30.807	34.359
Total receivables	239.008	244.516	259.289	312.027
Liquid funds	39.895	68.394	----	151
Current assets	302.078	332.910	288.879	324.513
Total assets	349.792	417.758	393.019	443.205
Issued capital	18.000	18.000	18.000	18.000
Share premium reserve	100.000	---	----	----
Other reserves	-15.835	40.659	82.366	91.043
Total reserves	84.165	40.659	82.366	91.043
Total equity	102.165	58.659	100.366	109.043
Long term interest yielding debt	100.000	100.000	100.000	100.000
Long term liabilities	100.000	100.000	100.000	100.000
Short term liabilities	147.627	259.099	192.653	234.162
Total short and long term liabilities	247.627	359.099	292.653	334.162
Total liabilities	349.792	417.758	393.019	443.205

Summary

In 2012 the assets of the company were 13.64 % composed of fixed assets and 86.36 % by

current assets. The assets are being financed by an equity of 29.21 %, and total debt of

70.79 %.

Analysis

Branch (SBI)

Wholesale trade (no motor vehicles and motorcycles) (46)

Region

Flevoland

In the Netherlands 109662 of the companies are registered with the SBI code 46

In the region Flevoland 2943 of the companies are registered with the SBI code 46

In the Netherlands 2387 of the bankrupcties are published within this sector

In the region Flevoland 95 of the bankruptcies are published within this sector

The risk of this specific sector in the Netherlands is normal

The risk of this specific sector in the region Flevoland is normal

Publications

Filings

29-07-2013: De jaarrekening over 2012 is gepubliceerd.

03-04-2012: De jaarrekening over 2011 is gepubliceerd.

01-06-2011: De jaarrekening over 2010 is gepubliceerd.

31-03-2010: De jaarrekening over 2009 is gepubliceerd.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.18
UK Pound	1	Rs.98.85
Euro	1	Rs.77.42

INFORMATION DETAILS

Analysis Done by :	SUB
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.