MIRA INFORM REPORT

Report Date :

08.07.2014

IDENTIFICATION DETAILS

Name :	UNISAFE FIRE PROTECTION SPECIALISTS LLC

Registered Office :	City Tower No. 2, 10^th Floor, Suite No. 1002, Sheikh Zayed Road, PO Box : 117579, Dubai

Country :	United Arab Emirates

Financials (as on) :	31.12.2013

Date of Incorporation :	26.12.1998

Com. Reg. No.:	1007351, Dubai

Legal Form :	Limited Liability Company

Line of Business :	Subject is engaged in the import, distribution, installation and maintenance of fire extinguishing and safety equipment.

No. of Employees :	82

RATING & COMMENTS

MIRA’s Rating :

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

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 – March 31, 2014

Country Name

Previous Rating

(31.12.2013)

Current Rating

(31.03.2014)

United Arab Emirates

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	D

UNITED ARAB EMIRATES - ECONOMIC OVERVIEW

The UAE has an open economy with a high per capita income and a sizable annual trade surplus. Successful efforts at economic diversification have reduced the portion of GDP based on oil and gas output to 25%. Since the discovery of oil in the UAE more than 30 years ago, the country has undergone a profound transformation from an impoverished region of small desert principalities to a modern state with a high standard of living. The government has increased spending on job creation and infrastructure expansion and is opening up utilities to greater private sector involvement. In April 2004, the UAE signed a Trade and Investment Framework Agreement with Washington and in November 2004 agreed to undertake negotiations toward a Free Trade Agreement with the US; however, those talks have not moved forward. The country's Free Trade Zones - offering 100% foreign ownership and zero taxes - are helping to attract foreign investors. The global financial crisis, tight international credit, and deflated asset prices constricted the economy in 2009. UAE authorities tried to blunt the crisis by increasing spending and boosting liquidity in the banking sector. The crisis hit Dubai hardest, as it was heavily exposed to depressed real estate prices. Dubai lacked sufficient cash to meet its debt obligations, prompting global concern about its solvency. The UAE Central Bank and Abu Dhabi-based banks bought the largest shares. In December 2009 Dubai received an additional $10 billion loan from the emirate of Abu Dhabi. Dependence on oil, a large expatriate workforce, and growing inflation pressures are significant long-term challenges. The UAE's strategic plan for the next few years focuses on diversification and creating more opportunities for nationals through improved education and increased private sector employment.

Source : CIA

SUMMARY

Company Name : UNISAFE FIRE PROTECTION SPECIALISTS LLC

Country of Origin : Dubai, United Arab Emirates

Legal Form : Limited Liability Company - LLC

Registration Date : 26^th December 1998

Commercial Registration Number : 1007351, Dubai

Trade Licence Number : 509352

Chamber Membership Number : 44509

Issued Capital : UAE Dh 750,000

Paid up Capital : UAE Dh 750,000

Total Workforce : 82

Activities : Import, distribution, installation and maintenance of fire extinguishing and safety equipment

Financial Condition : Good

Payments : Nothing detrimental uncovered

Operating Trend : Steady

Person Interviewed : Ashraf Arappoil, Accountant

COMPANY NAME

UNISAFE FIRE PROTECTION SPECIALISTS LLC

ADDRESS

Registered & Physical Address

Building : City Tower No. 2, 10^th Floor, Suite No. 1002

Street : Sheikh Zayed Road

PO Box : 117579

Town : Dubai

Country : United Arab Emirates

Telephone : (971-4) 3514124

Facsimile : (971-4) 3518494

Email : unisafe@emirates.net.ae / info@unisafedxb.com

Premises

Subject operates from a medium sized suite of offices and a warehouse that are rented and located in the Industrial Area of Dubai.

Please note that subject’s previous address was, Saif Abdullah Ash Shafar Building, Ras Al Khor Road, Ras Al Khor Industrial Area, Dubai.

Branch Offices

Location Description

PO Box: 33282 Office premises

Abu Dhabi

Tel: (971-2) 5511132

Fax: (971-2) 5515856

KEY PRINCIPALS

Name Nationality Position

Saif Abdullah Ali Saif Al Shafar Emirati Chairman

Manohar Gopal Bidaye - Vice Chairman

Promoud Rao - Director

Gurjit Singh Girwal - Director

K R Easwaran - Director

Thulsi Ram - Chief Executive Officer

Ms Mohini Suvarna - Finance Manager

Madhu Menon - Human Resources Manager

Ashraf Arappoil - Accountant

Satesh Talapdy - Procurement Manager

LEGAL FORM & OWNERS

Date of Establishment : 26^th December 1998

Legal Form : Limited Liability Company - LLC

Commercial Reg. No. : 1007351, Dubai

Trade Licence No. : 509352

Chamber Member No. : 44509

Issued Capital : UAE Dh 750,000

Paid up Capital : UAE Dh 750,000

Name of Shareholder (s) Percentage

Saif Abdullah Ali Saif Al Shafar 51%

Zicom Electronics Security Systems Ltd 49%

India

AFFILIATED COMPANIES

Unisafe Fire Protection Specialist LLC

PO Box: 2079

D2 Industrial Area

Doha

Qatar

Tel: (974) 44696490

OPERATIONS

Activities: Engaged in the import, distribution, installation and maintenance of fire extinguishing and safety equipment.

Subject’s products include:

Fire detection & voice evacuation system

Smoke detection system emergency & exit lights

Standpipe & hose systems

Fire mains & hydrant system

Sprinkler systems

Water spray fixed systems

Deluge foam water sprinkler & foam water spray system low

Medium & high expansion foam system

Clean agent fire extinguishing systems (argonite & fm-200)

Carbon dioxide extinguishing systems

Dry and wet chemical extinguishing systems water

Mist fire extinguishing systems

Import Countries: India, Denmark, United Kingdom, Malaysia and the United States of America.

International Suppliers:

GLT Exports Ltd United Kingdom

Moyne Engineering Ltd Republic of Ireland

Globe Sprikler Corporation United States of America

Ginge-Kerr Denmark

PemAll Systems Inc United States of America

Eversafe Extinguisher SDN Malaysia

NIBCO Valves United States of America

Potter Roemer United States of America

Operating Trend: Steady

Subject has a workforce of 82 employees.

FINANCIAL DATA

Financial highlights provided by local sources are given below:

Currency: United Arab Emirates Dirham (UAE Dh)

Year Ending 31/12/12: Year Ending 31/12/13:

Total Sales UAE Dh 207,700,000 UAE Dh 223,500,000

Local sources consider subject’s financial condition to be Good.

The above figures were provided by Mr Ashraf Arappoil, Accountant

BANKERS

Mashreq Bank Plc

Deira Branch

PO Box: 1250

Dubai

Tel: (971-4) 2229131 / 2221134

Fax: (971-4) 2233784

PAYMENT HISTORY

No complaints regarding subject’s payments have been reported.

GENERAL COMMENTS

During the course of this investigation nothing detrimental was uncovered regarding subject’s operating history or the manner in which payments are fulfilled. As such the company is considered to be a fair trade risk.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.59.95
UK Pound	1	Rs.102.78
Euro	1	Rs.81.39

INFORMATION DETAILS

Analysis Done by :	KAR

Report Prepared by :	NNA

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.