MIRA INFORM REPORT

Report Date :

04.01.2008

IDENTIFICATION DETAILS

Name :	AGRISOURCE (2000) LTD

Registered Office :	39 Kitchener Road, Pukekohe

Country :	New Zealand

Date of Incorporation :	18.04.2000

Legal Form :	Limited Company

Line of Business :	Import and Distribution of Agricultural Chemicals Including Herbicides and Insecticides

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Small Company

Payment Behaviour :	No Complaints

Litigation :	Clear

company name

AGRISOURCE (2000) LTD

CORPORATE SEARCH

Company Number 1027720

Company AGRISOURCE (2000) LIMITED

Incorporated 18-APR-2000

Current Status REGISTERED

Entity Type Company

Constitution Filed Yes

Annual Return Filing Month October

Previous Names

No Previous Names on record

Address Details

Registered Office

39 Kitchener Road

Pukekohe

Address for Service

39 Kitchener Road

Pukekohe

Directors

Name Date Appointed:

ELLIOT, Garry Stanley 25-MAY-2000

86a Kurahaupo Street, Mission Bay, Auckland

KETELS, Rodney Clive 18-APR-2000

296 Jesmond Road, Drury, Auckland

WILSON, Fraser Donald 18-APR-2000

694 State Highway 33, Okere Falls, Rotorua

Share Parcels

Total Number of shares 10,000

Number of Shares 5,100

Shareholder(s) 1548316 - WHL HOLDINGS LIMITED C/O Pukekohe Growers Supplies

Limited, 45 Kitchener Road, Pukekohe,

Auckland

Number of Shares 4,899

Shareholder(s) on behalf of the EFFDEE Trust,

Fraser Donald Wilson 694 State Highway 33, Okere Falls,

Rotorua

on behalf of the EFFDEE Trust,

Patrick Joseph McCormick 45 Bronwylan Drive, Manukau City

Number of Shares 1

Shareholder(s) WILSON, Fraser Donald 694 State Highway 33, Okere Falls,

Rotorua

BUSINESS STRUCTURE

TRADING ADDRESS 39 Kitchener Road

PUKEKOHNE, AUCKLAND NZ

TELEPHONE (649) 237 1083

BANK NATIONAL BANK OF NEW ZEALAND

EMPLOYEES 1

BACKGROUND

The subject was incorporated in New Zealand on 18 April 2000 to commence operations under the current style as a new venture.

OPERATIONS

The subject operates in the import and distribution of agricultural chemicals including herbicides and insecticides.

Activities are conducted from premises located at the above listed trading address.

FINANCES

The subject is not required to lodge financial statements with the New Zealand Companies Office.

During the current interview conducted with the subjects Manager, he advised that for the last financial year ended 31 March 2007, the subject traded profitably and recorded revenue of NZ$3,000,000.

The subject carries only small quantities of stock on hand as most requirements are ordered to specifications.

The subject maintains an overdraft facility with its bankers which has a NZ$50,000 credit imit.

Further details pertaining to the subject’s financial position were unable to be obtained for the current enquiry.

TRADE SURVEY

During the current investigation, it was advised that the subject imports all requirements. A trade survey on the subject traced the following accounts:

Nominated supplier failed to respond to correspondence despite chasing.

SUMMARY

The subject was incorporated in New Zealand on 18 April 2000 to commence operations under the current style as a new venture.

For the last financial year ended 31 March 2007, the subject traded profitably and recorded revenue of NZ$3,000,000.

The subject carries only small quantities of stock on hand as most requirements are ordered to specifications.

Further details pertaining to the subject’s financial position were unable to be obtained for the current enquiry.

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	Unfavourable & favourable factors carry similar weight in credit consideration. 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
NR		In view of the lack of information, we have no basis upon which to recommend credit dealings	No Rating

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