MIRA INFORM REPORT

Report Date :

08.10.2014

IDENTIFICATION DETAILS

Name :	OOO "IKSBURG"

Registered Office :	Ul Kolskaya D 7, Str 9, 129329 G Moskva

Country :	Russia

Financials (as on) :	31.12.2012

Date of Incorporation :	04.08.2010

Com. Reg. No.:	1107746614755

Legal Form :	Limited Liability Companies

Line of Business :	Wholesale of Textiles.

No. of Employees :	NIL

RATING & COMMENTS

MIRA’s Rating :

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 :	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)

Russia

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

RUSSIA - ECONOMIC OVERVIEW

Russia has undergone significant changes since the collapse of the Soviet Union, moving from a globally-isolated, centrally-planned economy towards a more market-based and globally-integrated economy, but stalling as a partially reformed, statist economy with a high concentration of wealth in officials' hands. Economic reforms in the 1990s privatized most industry, with notable exceptions in the energy and defense-related sectors. The protection of property rights is still weak and the private sector remains subject to heavy state interference. Russia is one of the world's leading producers of oil and natural gas and is also a top exporter of metals such as steel and primary aluminum. Russia's manufacturing sector is generally uncompetitive on world markets and is geared toward domestic consumption. Russia's reliance on commodity exports makes it vulnerable to boom and bust cycles that follow the volatile swings in global prices. The economy, which had averaged 7% growth during 1998-2008 as oil prices rose rapidly, was one of the hardest hit by the 2008-09 global economic crisis as oil prices plummeted and the foreign credits that Russian banks and firms relied on dried up. Slowly declining oil prices over the past few years and difficulty attracting foreign direct investment have contributed to a noticeable slowdown in GDP growth rates. In late 2013, the Russian Economic Development Ministry reduced its growth forecast through 2030 to an average of only 2.5% per year, down from its previous forecast of 4.0 to 4.2%. In 2014, following Russia's military intervention in Ukraine, prospects for economic growth declined further, with expections that GDP growth could drop as low as zero.

Source : CIA

Company Name and Address

OOO "IksBurg"

Ul Kolskaya D 7, Str 9,

129329 G Moskva

Tel: 74959810043

Company Summary

Legal form	Limited liability companies (OOO)
Established on	04/08/2010 - Limited liability companies (OOO)

Registered on

04/08/2010, Mezhrayonnaya inspektsiya Federalnoy nalogovoy sluzhby № 46 po g. Moskve,

Reg Nr.: 1107746614755
Tax number: 7716668828
Statistical number: 67942450

Registered capital

RUB

1 200 000,-

Owner	Kompaniya "Burgbridzh KHoldingz Limited" ul. Naksu d. 4, 1070 Nikosiya, Cyprus	%	99
	Batyr KHakikatovich KHadzhimatov	%	1

Sole Executive Body	Batyr KHakikatovich KHadzhimatov Managing director
General data	Main activity: Wholesale of textiles	(51.41)

	Full name: Obshchestvo s ogranichennoy otvetstvennostyu "IKSBURG"
	Name in foreign language: Limited Liability Company "XBurg"

	Short name: OOO "IksBurg"

	Residence address: ul Kolskaya d 7, str 9, 129329 g Moskva Tel: 74959810043
	According to the open sources the main activity of OOO “IksBurg” is trade of cloths. The subject imports products from China.

Other activities
	:

	Agents involved in the sale of textiles	(51.16)
	Wholesale of household goods	(51.4)

	Market research and public opinion polling	(74.13.1)
	Business and management consultancy activities	(74.14)

Annual turnover	31/12/2010	Enterprise turnover	RUB	117 490 000,-
	31/12/2011	Enterprise turnover	RUB	1 454 202 000,-

	31/12/2012	Enterprise turnover	RUB	1 565 958 000,-
Remarks	According to the research, Halgimov Batir Hakikatovich, the managing director and co-owner of OOO “IksBurg”, was also the managing director of: OOO “IKSBURG” – INN: 5001078802, Moscow region, Balashikha. Company has been liquidated in January of 2012 by the decision of its shareholders. It should be noted that Halgimov Batir Hakikatovich was also the owner of 50% of share capital of this company. OOO “Rysski Trikotazh” - INN: 7734249379; Moscow. He was the managing director of the company. OOO “IksBurg” has not participated in court cases. According to information, disclosed by the Federal Tax Service, OOO “IksBurg” does not have tax arrears, company is not going to be excluded from the state register as non-active. According to information, disclosed by the Pension Fund of Russian Federation, OOO “IksBurg” does not have delays in social payments. According to information, disclosed by the Federal Labor Service, OOO “IksBurg” does not plan to attract foreign employees. OOO “IksBurg” is not in the list of default debtors, the Register of unfair suppliers, the blacklist of Russian companies. The management of the company is not in the list of default debtors, the register of disqualified persons, the blacklist of Russian Private Persons.

A. The enclosed balance of 2011 is originated from official source, no data available about authentication. (31.12.2011 - 1000 RUB) - Warning! The figures stated in the balance sheet may contain error(s).
B. The enclosed balance of 2012 is originated from official source, no data available about authentication. (31.12.2012 - 1000 RUB) - Warning! The figures stated in the balance sheet may contain error(s).

Balance Sheet

balance	A 31.12.2011	B 31.12.2012	C
1. ASSETS
I. FIXED ASSETS
Intangible assets	0	0
The results of research and development	0	0
Intangible research assets	0	0
Tangible research assets	0	0
Fixed assets	30	13
Profitable investments in tangible assets	0	0
Financial investments	0	0
Deferred tax assets	8 626	40
Other non-current assets	0	0
TOTAL IN SECTION I.	8 656	53
II. CURRENT ASSETS
Inventories	330 127	160 037
VAT on acquired assets	2	175
Accounts receivable	436 349	575 450
Financial investments (excluding the monetary equivalent)	0	0
Cash and monetary equivalents	9 533	398
Other current assets	155	157
TOTAL IN SECTION II.	776 166	736 218
BALANCE	784 821	736 271
2. LIABILITIES
III. CAPITAL AND RESERVES
Authorized capital (share capital, charter capital, deposits capital, partners capital)	1 200	1 200
Treasury stock	0	0
Revaluation of fixed assets	0	0
Additional capital (without revaluation)	0	0
Reserve capital	0	0
Retained earnings (uncovered loss)	-36 204	1 118
TOTAL IN SECTION III.	-35 004	2 318
IV. LONG-TERM LIABILITIES
Borrowed funds	277 677	530 811
Deferred tax liabilities	0	0
Provisions	0	0
Other liabilities	0	0
TOTAL IN SECTION IV.	277 677	530 811
V. SHORT-TERM LIABILITIES
Borrowed funds	368 940	21 763
Payables	173 208	181 169
Deferred income	0	0
Provisions	0	210
Sonstige Verbindlichkeiten	0	0
TOTAL IN SECTION V.	542 148	203 142
BALANCE	784 821	736 271
A. The enclosed profit and loss account of 2011 is originated from official source, no data available about authentication. (31.12.2011 - 1000 RUB) B. The enclosed profit and loss account of 2012 is originated from official source, no data available about authentication. (31.12.2012 - 1000 RUB)

profit and loss account

profit and loss account	A 31.12.2011	B 31.12.2012	C
Turnover	1 454 202	1 565 958
Cost of sales	1 428 034	1 484 892
Gross profit (loss)	26 168	81 066
Selling expenses	23 479	25 822
Administrative expenses	0	0
Sales profit (loss)	2 689	55 244
Earnings from other entities	0	0
Interest receivable	0	0
Interest payable	10 156	20 083
Other operating income	28 490	79 913
Other operating expenses	65 492	66 175
Profit (loss) before tax	-44 469	48 899
Current profit tax	0	2 991
Permanent tax liabilities (assets)	268	1 797
Change in deferred tax liabilities	0	0
Change in deferred tax assets	8 626	-8 586
Different	0	0
Net profit (loss)	-35 843	37 322
Results of fixed assets revaluation, non-includedin net profit/loss for period	0	0
Result of other transactions, non included in net profit/loss for period	0	0
Total financial result for period	-35 843	37 322

Financial Ratio

Ratios	2011	2012
Current ratio	n/a	3,62
Quick ratio	n/a	2,84

Average Collection Period	n/a	118
Payables turnover Period	n/a	43,55

Debt ratio	n/a	1
Equity to total assets ratio	n/a	0

Funding ratio	n/a	0
Return on sales	n/a	2,38

Return on Assets	n/a	4,91
Return on Equity	n/a	-228,37

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.36
UK Pound	1	Rs.98.71
Euro	1	Rs.77.47

INFORMATION DETAILS

Analysis Done by :	RAS

Report Prepared by :	NIT

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