MIRA INFORM REPORT

Report Date :

01.10.2014

IDENTIFICATION DETAILS

Name :	FINTEC-FINANZIERUNGSBERATUNGS- UND HANDELSGESELLSCHAFT M.B.H.

Registered Office :	Schubertring 11, A-1010 Wien

Country :	Austria

Financials (as on) :	30.06.2013

Date of Incorporation :	26.08.1987

Legal Form :	Limited Liability Company since 1987-07-30

Line of Business :	Önace 82990 100% Other business support service activities n.e.c. Company is finance consulting concerning the export of Italian products to the rest of Europe [We tried to confirm / obtain the detailed activity but the same is not available from any sources]

No. of Employees :	1

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 :	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 – June 1, 2014

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

Austria

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

AUSTRIA - ECONOMIC OVERVIEW

Austria, with its well-developed market economy, skilled labor force, and high standard of living, is closely tied to other EU economies, especially Germany's. Its economy features a large service sector, a sound industrial sector, and a small, but highly developed agricultural sector. Following several years of solid foreign demand for Austrian exports and record employment growth, the international financial crisis of 2008 and subsequent global economic downturn led to a sharp but brief recession. Austrian GDP contracted 3.8% in 2009 but saw positive growth of about 2% in 2010 and 2.7% in 2011. Growth fell to 0.6% in 2012. Unemployment did not rise as steeply in Austria as elsewhere in Europe, partly because the government subsidized reduced working hour schemes to allow companies to retain employees. The 2012 unemployment rate of 4.3% was the lowest within the EU. Stabilization measures, stimulus spending, and an income tax reform pushed the budget deficit to 4.5% in 2010 and 2.6% in 2011, from only about 0.9% in 2008. The international financial crisis of 2008 caused difficulties for Austria's largest banks whose extensive operations in central, eastern, and southeastern Europe faced large losses. The government provided bank support - including in some instances, nationalization - to support aggregate demand and stabilize the banking system. Austria's fiscal position compares favorably with other euro-zone countries, but it faces external risks, such as Austrian banks' continued exposure to Central and Eastern Europe as well as political and economic uncertainties caused by the European sovereign debt crisis. In 2011 the government attempted to pass a constitutional amendment limiting public debt to 60% of GDP by 2020, but it was unable to obtain sufficient support in parliament and instead passed the measure as a simple law. In March 2012, the Austrian parliament approved an austerity package consisting of a mix of expenditure cuts and new revenues that will bring public finances into balance by 2016. In 2012, the budget deficit rose to 3.1% of GDP

Source : CIA

Basic company information

Last up-date:	2014-09-24
Company name:	FINTEC-Finanzierungsberatungs- und Handelsgesellschaft m.b.H.
Status:	active company
Locations:	Schubertring 11, A-1010 Wien
Phone:	0043 (1) 7124781
Fax:	0043 (1) 7146124
Activities:	Önace 82990 100% Other business support service activities n.e.c.

General Assessment:	Model: CompanyScore
Probability of Default (Basel II):	0,28% Low risk
comparison:	The Rating of this company is better than industry average.
Recommendation:	In respect to solvency reasons, there is nothing to say against an establishment of a business relationship.

Detail Assessment:	Payments are made according to conditions. There are no negative experiences at this time.
	Financial situation is average.

Additional company information

Year of incorporation:	1987
Activities:
Type of company:	Administrative and support service activities
Legal form:	limited liability company since 1987-07-30
companies' house number:	FN 104411 x Wien 1987-08-26
VAT number:	ATU 16096908
number - Austrian National Bank:	481106

Financial data

total turnover (total sales)	2013	EUR 1.200.000,00	(approx.)
total turnover (total sales)	2012	EUR 1.155.768,30	(exact)
total turnover (total sales)	2011	EUR 1.142.495,52	(exact)
total employees	2014	1	(exact)
white collar workers	2014	1	(exact)

Extraxt from the Companies' House

firm (style):

1 FINTEC-Finanzierungsberatungs- und
Handelsgesellschaft m.b.H.

legal form:

1 Gesellschaft mit beschränkter Haftung

registered office:

1 politischer Gemeinde Wien

business adress:

1 Schubertring 11
1010 Wien

capital:

8 EUR 145.345,67

reference date annual accounts:

8 30. Juni

annual accounts:

26 zum 30.06.2013 eingereicht am 28.01.2014

power of representation:

    1      Die Gesellschaft wird, wenn mehrere Geschäftsführer
           bestellt sind, durch zwei Geschäftsführer gemeinsam oder
           durch einen von ihnen gemeinsam mit einem Gesamtprokuristen
           vertreten.
    1   Gesellschaftsvertrag vom 30.07.1987                                001
    8   Gesellschaftsvertrag mit Generalversammlungsbeschluss               002
          vom 03.06.2003
          gemäß 1. Euro-JuBeG angepasst.
    8   Generalversammlungsbeschluss vom 03.06.2003                        003
          Neufassung des Gesellschaftsvertrages.

managing director:

         B   Mag Franz Böck, geb. 04.05.1955
    1        vertritt seit 13.01.1989 gemeinsam mit
             einem weiteren Geschäftsführer oder einem Gesamtprokuristen
         I   Emilio Castelbolognesi, geb. 30.06.1954
   23        vertritt seit 11.10.2012 gemeinsam mit
             einem weiteren Geschäftsführer oder einem Gesamtprokuristen

shareholder:

         H   Erste Bank Beteiligungen GmbH
   12        ....................... EUR 36.336,42
   12        .................................................. EUR 18.168,21
         I   Emilio Castelbolognesi, geb. 30.06.1954
   27        ....................... EUR 16.351,39
   27        ................................................... EUR 8.175,70
         J   Credelux SA
   27        ....................... EUR 79.576,75
   27        .................................................. EUR 39.788,38
         K   DEPIGEST S.A.
   27        ....................... EUR 13.081,11
   27        ................................................... EUR 6.540,55
                        -------------------------------------------------------
                 Summen:             EUR 145.345,67              EUR 72.672,84

general table:

Handelsgericht Wien
   1 Ersterfassung abgeschlossen am 23.06.1994 Geschäftsfall 904 Fr 1880/94 m
       Ersterfassung gem. Art. XXIII Abs. 4 FBG
   8 eingetragen am 14.06.2003                  Geschäftsfall 72 Fr 7025/03 h
       Antrag auf Änderung eingelangt am 11.06.2003
12 eingetragen am 09.03.2005                  Geschäftsfall 72 Fr 2691/05 b
       Antrag auf Änderung eingelangt am 04.03.2005
19 eingetragen am 29.04.2011                  Geschäftsfall 72 Fr 7910/11 f
       amtswegige Nachbearbeitung
23 eingetragen am 20.11.2012                  Geschäftsfall 72 Fr 15479/12 w
       Antrag auf Änderung eingelangt am 09.11.2012
24 eingetragen am 11.01.2013                  Geschäftsfall 72 Fr 17017/12 g
       Antrag auf Änderung eingelangt am 21.12.2012
26 eingetragen am 13.03.2014                  Geschäftsfall 72 Fr 1664/14 x
       Einreichung Jahresabschluss eingelangt am 28.01.2014
27 eingetragen am 24.06.2014                  Geschäftsfall 72 Fr 8745/14 i
       Antrag auf Änderung eingelangt am 17.06.2014

Real estate

Real estate text:

No real estate property registered

Private data

Surname

Date of birth

Address

Executive positions

Further executive positions (as registered in the companies' house)

Mag. Franz Böck

1955-05-04

1030 Wien Ditscheinergasse 3

manager

Emilio Castelbolognesi

1954-06-30

1204 Geneve Rue du Rhone 118

manager,

partner

Balance Sheet (absolute) all amounts in EUR

	2013-06-30
EDP programs	0,99
Sum intangible assets	0,99

Other operating and business equipment	2.051,65
Sum tangible assets	2.051,65

Sum fixed assets	2.052,64

Other claims and assets	30.869.482,09
Sum claims	30.869.482,09

Cash on hand, cheques and bank deposits	2.096.407,11
Sum cash and bank	2.096.407,11

Sum current assets	32.965.889,20

Deferred charges	274.314,49
Sum deferred charges	274.314,49
Assets	33.242.256,33

Subscribed/declared capital	145.345,67
Shares outstanding, not claimed	-72.672,83
Balance sheet profit/balance sheet loss	546.663,36
Thereof profit/loss carried forward	14.160,66
Sum equity capital	619.336,20

Reserves for severance pays	60.547,00
Tax reserves	388.269,00
Other reserves	50.379,00
Sum reserves	499.195,00

Liabilities from delivered goods and performed services	739,54
Liabilities against related firms	700.000,00
Other liabilities	30.730.123,96
Sum liabilities	31.430.863,50

Deferred income	692.861,63
Sum deferred income	692.861,63
Liabilities	33.242.256,33

Balance sheet sum	33.242.256,33

P / L Account (absolute) all amounts in EUR

	2013-06-30
Gross sales	1.201.850,37
Total turnover or gross profit	1.201.850,37

Salaries	-99.746,07
Costs for severance pays	-5.399,00
Costs for old age pension	-5.114,72
Legal fringe benefits and other payments depending on salaries	-21.239,42
Other social fringe benefits	-302,95
Personnel expenses totally	-131.802,16

Depreciation of intangible assets, tangible assets,activated expenses for the set up and expansion of business operation	-1.019,25
Depreciation tangible assets / intangible assets totally	-1.019,25

Other operating costs	-372.776,81
Other taxes	-3.230,25
Total costs	-376.007,06

Operating result totally	693.021,90

Interest income, securties income and similar income	7.572,90
Interest and similar disbursements	-0,32
Financial profits totally	7.572,58

Results from usual business activity totally	700.594,48

Taxes on income and profits	-168.091,78
Taxes on income and profits totally	-168.091,78
Annual surplus/annual deficit totally	532.502,70

Annual profit/annual loss totally	532.502,70

Profit and loss carried forward from previous year	14.160,66
Transfer of profits totally	14.160,66
B/S profit/ B/S loss from profit and loss account	546.663,36

Key ratios

	2013
Cash flow II	533.521,95
Debt amortisation period	55,91
Bank indebtedness	0,00
Equity capital share	1,86
Social capital share	0,18
Fixed assets coverage	33.122,37
Net profit ratio	58,29
Capital turnover	0,03
Return on investment	2,10
Cash flow in % of operating performance	44,39
Cash flow I	701.613,73
Gross productivity	9,11
Net productivity	9,11
Operating performance	1.201.850,37
Inventories in % of operating performance	0,00
Gross profit	1.201.850,37

Locations

Type	Locations	Description

operational	Schubertring 11, A-1010 Wien	registered office

operational	Schubertring 11, A-1010 Wien, (ident Pestalozzigasse 1)	registered headquarters

related companies

Company name

Postal code

Stake in %

Companies House

Shares in this company are held by:

Credelux SA

2 Avenue Charles de Gaulle , L-1653 Luxembourg

54.75 % 2013-01-11

Erste Bank Beteiligungen GmbH

Graben 21, A-1010 Wien

25 % 2005-03-09

FN 106279 v

Emilio Castelbolognesi

Rue du Rhone 118, CH-1204 Geneve

11.25 % 2014-06-24

DEPIGEST S.A.

114 Rue du Rhone , CH-1204 Genf

9 % 2014-06-24

101.425.242

Bankers

Banker

Bank sort code

Type of banking connection

Erste Bank der oesterreichischen Sparkassen AG, 1011 Wien

20111

main bank connection

Historical development

Year of incorporation:	1987
Date of registration:	1987-08-26

Change in share capital:
From	To	Capital
	2003-06-16	ATS 2.000.000,00
2003-06-16		EUR 145.345,67

Former executives:
From	To	Function	Name
1995-02-11	2012-11-20	manager	Ronald Mc Lean Adair

Former shareholders:
From	To	Function	Name
1994-06-23	1999-02-16	partner	FINEUROP International Ltd. Holdinggesellschaft
1994-06-23	2005-03-09	partner	Erste Bank Beteiligungen Gesellschaft m.b.H.
1999-02-16	2012-06-21	partner	TDC International Holdings N.V.
2004-06-12	2013-01-11	partner	SFH Jersey Ltd

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.61
UK Pound	1	Rs.100.28
Euro	1	Rs.78.21

INFORMATION DETAILS

Analysis Done by :	DIV

Report Prepared by :	PDT

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.