MIRA INFORM REPORT

Report Date :

20.11.2014

IDENTIFICATION DETAILS

Name :	KM COMMODITIES AG
Registered Office :	Mattstrasse 18 6052 Hergiswil/NW
Country :	Switzerland
Date of Incorporation :	20.11.2001
Com. Reg. No.:	100.3.008.532-4 / 124395
Legal Form :	Company limited by shares
Line of Business :	Wholesale of grain, unmanufactured tobacco, seeds and animal feeds
No. of Employees :	13

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 :	No complaints
Litigation :	Exist

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)
Switzerland	A1	A1

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

SWITZERLAND - ECONOMIC OVERVIEW

Switzerland is a peaceful, prosperous, and modern market economy with low unemployment, a highly skilled labor force, and a per capita GDP among the highest in the world. Switzerland's economy benefits from a highly developed service sector, led by financial services, and a manufacturing industry that specializes in high-technology, knowledge-based production. Its economic and political stability, transparent legal system, exceptional infrastructure, efficient capital markets, and low corporate tax rates also make Switzerland one of the world's most competitive economies. The Swiss have brought their economic practices largely into conformity with the EU's to enhance their international competitiveness, but some trade protectionism remains, particularly for its small agricultural sector. The fate of the Swiss economy is tightly linked to that of its neighbors in the euro zone, which purchases half of all Swiss exports. The global financial crisis of 2008 and resulting economic downturn in 2009 stalled export demand and put Switzerland in a recession. The Swiss National Bank (SNB) during this period effectively implemented a zero-interest rate policy to boost the economy as well as prevent appreciation of the franc, and Switzerland's economy began to recover in 2010. The sovereign debt crises currently unfolding in neighboring euro-zone countries pose a significant risk to Switzerland's financial stability and are driving up demand for the Swiss franc by investors seeking a safe-haven currency. The independent SNB has upheld its zero-interest rate policy and conducted major market interventions to prevent further appreciation of the Swiss franc, but parliamentarians have urged it to do more to weaken the currency. The franc's strength has made Swiss exports less competitive and weakened the country's growth outlook; GDP growth fell below 2% per year during 2011-13. Switzerland has also come under increasing pressure from individual neighboring countries, the EU, the US, and international institutions to reform its banking secrecy laws. Consequently, the government agreed to conform to OECD regulations on administrative assistance in tax matters, including tax evasion. The government has renegotiated its double taxation agreements with numerous countries, including the US, to incorporate the OECD standard, and is considering the possibility of imposing taxes on bank deposits held by foreigners. These steps will have a lasting impact on Switzerland's long history of bank secrecy.

Source : CIA

Company name

KM COMMODITIES AG

Operating address

Mattstrasse 18

6052 Hergiswil/NW

Switzerland/CH

Telephone: 041 6191000

Fax: 041 6120044

Web site: http://www.kmcommodities.ch

E-mail: info@kmcommodities.ch

WIN Worldbox No.: CH0000244224

VAT-No.: CHE107880627

Profile

Established: 1977

History: 1977: Established from Karl Muggli senior

Line of Business: Consumer goods wholesale

Industry Division: Wholesale trade

Industry-code (NACE): 4621 Wholesale of grain, unmanufactured tobacco, seeds and animal feeds

Import/Export: Import

Quality certification: ISO 9001:2000

ISO 14001:2004

ISO 22000:2005

Banks: unknown

Operational Figures

Coverage: Company

Employees: 13

Activity

The business activities includes trading in cereals, animal feed and guiding principles.

Products:

- Grains: Soft wheat, hard wheat, barley, rye, oats, corn, triticale, spelt/emmer, millet, amaranth, buckwheat,

rice/broken rice.

- Feed: Protein carrier, Starches, Amino acids, Mineral carrier, Fats, Crude fibre carriers, Feeding lime, Energy

carriers.

- Sunflower seed kernels, sesame seed, linseed (flax) brown or yellow (golden), pumpkin seed kernels, poppy seed (blue

poppy), hemp seeds, melon seed kernels, buckwheat, dextrose monohydrate, wheat gluten, wheat starch, pregalatinized

wheat flour (Purvit), malt flour / flavoring, Beans, lentils, peas, mustard seed brown and yellow, juniper berries,

juniper concentrate, sultanas, nuts, caraway seeds.

- Oilseeds: Sunflower seed kernels, soy beans, rape seed (canola), linseed (flax), sesame seed, pumpkin seed kernel,

safflower

Real Estate

Information on property ownership was not available.

Company Register

Company No: 100.3.008.532-4 / 124395

Legal form: Company limited by shares

Registration: 20.11.2001

Legal status: active

Responsible Register: Handelsregister des Kantons Nidwalden

History: Date of Incorporation Statutes: 24.05.1977

Date of Statutes: 30.01.2014

Date of Statutes: 11.03.2009

Date of Statutes: 09.11.2001

Entry Deleted Name

31.01.2014 KM Commodities AG

31.01.2014 Karl Muggli AG

Entry Deleted Legal domicile

16.03.2009 Hergiswil (NW), Switzerland

20.11.2001 Nebikon, Switzerland

20.11.2001 16.03.2009 Stansstad, Switzerland

Entry Deleted Address

16.03.2009 Mattstrasse 18, 6052 Hergiswil/NW, Switzerland/CH

20.11.2001 16.03.2009 Zielmatte 2, 6362 Stansstad/NW, Switzerland/CH

Entry Deleted Capital

active Share Capital CHF 100,000, paidup CHF 100,000

Entry Deleted Capital Structure

active 100 Registered shares of CHF 1,000.--

Official Administration

Title Name

Director Josef Paul Fischer, Origin: Inwil, Switzerland, Residential address: Hergiswil/NW, single signature, Registered since: 26.06.2013

Management

Title Name

General Manager Marco Fischer, Origin: Inwil, Switzerland, Residential address: Bergdietikon, Switzerland, single signature, Registered since: 31.01.2014

Member with procuration Andreas Schönbächler, Origin: Einsiedeln, Switzerland, Residential address: Stetten/AG, Switzerland, joint power of attorney of two, Registered since: 17.06.2013

External Positions

Title Name

Auditor Arnet Treuhand AG, Residential address: Luzern, Switzerland, Id: CHE-113.249.414 , Registered since: 31.01.2014

Executive board

Title Name

Chief Executive Officer Marco Fischer (marco.fischer@kmcommodities.ch)

Chief Business Segment Officer Andreas Schönbächler (andreas.schoenbaechler@kmcommodities.ch)

Owner/-s

Owner: The company is privately owned.

Investments

It is believed that the company has no investments.

Financials

Balance sheet publication:

The subject company does not publish balance sheet or turnover figures.

Legal Actions

Control date Year No. Amount CHF Status

29.10.2013 2013 4 73,086.-- Opposition filed

29.10.2013 2012 0

29.10.2013 2011 0

29.10.2013 2010 0

29.10.2013 2009 0

09.11.2009 2008 0

09.11.2009 2007 0

09.11.2009 2006 0

Official bankruptcy reports:

No bankruptcy publications available on the subject.

An updated legal action check is only available against proof of interest. e.g. a copy of an enquiry letter, and order or invoice relating to the subject company.

Payment experiences

Payment experiences from collection cases:

No payment experiences from legal collection cases are available.

Mode of payment / Business conduct:

There are no complaints about the mode of payment and the business conduct.

Credit Information

Financial Statements: The company does not disclose any financial statements. Third parties are not permitted any insight into the financial affairs. It is therefore difficult to make a proper assessment of the actual situation.

Financial Situation: The financial situation is difficult to assess.

Payment experiences: Financial obligations are met as appropriate.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.83
UK Pound	1	Rs.96.56
Euro	1	Rs.77.42

INFORMATION DETAILS

Report Prepared by :

SMN

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.