MIRA INFORM REPORT

Report Date :

31.12.2011

IDENTIFICATION DETAILS

Name :	NASON ENGINE PARTS PTY LTD

Registered Office :	Unit 2, 5 Monterey Road, Dandenong , Victoria, Zip/postal code 3175

Country :	Australia

Date of Incorporation :	09.02.2007

Com. Reg. No.:	123867756

Legal Form :	Australian Proprietary Company

Line of Business :	Supplier of motor vehicle spare parts

No. of Employees :	60

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	_{USD 300,000}
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 – September 30^th, 2011

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

Australia

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

Bottom of Form

Identification details Bottom of Form

Verified Address

Subject name : NASON ENGINE PARTS PTY LTD

Business address : Unit 2, 5 Monterey Road

Town : Dandenong

Province : Victoria

Zip/postal code : 3175

Country : Australia

Tel : +61 3 87911200

Fax : +61 3 87911299

Website : www.nason.com.au

Registered address : Unit 2, 5 Monterey Road

Town : Dandenong

Province : Victoria

Zip/postal code : 3175

_{Country : Australia}

Summary details

Executive Summary

Date founded or registered : 09/02/2007

Legal form : Australian Proprietary Company

Chief executive : Bruce Robert Parker

Issued & paid up capital : AUD 150,000

Sales turnover : AUD 15,000,000 (Estimated non-consolidated 12 months, 30/06/2011)

Line of business : Supplier of motor vehicle spare parts.

_{Staff employed : 60 employees}

Credit risk opinion

Company Analysis

Country risk : Country risk is minimal

Operation trend : Operational trend is steady

Management experience : Management is modestly experienced

Financial performance : Financial performance is fair

Organization structure : Organizational structure is stable

Detrimental : No detrimental records found

Payment history : No payment delays noted

_{Credit amount suggestion : USD 300,000}

_{Credit amount asked : USD 300,000}

Statutory details

Registry Data

Registration date : 09/02/2007

Legal form : Australian Proprietary Company

Registration no : Australian Company Number: 123867756

Registered authority : Australian Securities & Investments Commission

Fiscal/ Tax no : Australian Business Number: 66123867756

Registry status : Live/Active

Previous name : None reported.

Change of legal form : None reported.

Management / directors

Key Management

Name : Bruce Robert Parker

Designation : Managing Director

Name : Antony Taunton Pearse

Designation : General Manager

Name : Ralph Leslie Weston

_{Designation : Financial Manager}

Board of directors / other appointments

Appointments

Name : Bruce Robert Parker

Designation : Director

Appointment date : 09/02/07

Address : 4 Nelson Road

Warrandyte, VIC 3113

Australia

Biography : Born on 20-02-1945 in Melbourne, Victoria, Australia.

Name : Ralph Leslie Weston

Designation : Director

Appointment date : 09/02/07

Address : 213 Hildebrands Road

Cottles Bridge, VIC 3099

Australia

Biography : Born on 21-07-1950 in Melbourne, Victoria, Australia.

Name : Antony Taunton Pearse

Designation : Director

Appointment date : 01/06/08

Address : 1455 High Street

Glen Iris, VIC 3146

Australia

Biography : Born on 16-12-1952 in Melbourne, Victoria, Australia.

_{Staff employed : 60 employees}

Share capital

Composition

Authorized Capital : AUD 150,000

No of shares : 150,000 Ordinary Shares

Share par value : AUD 1

Issued capital : AUD 150,000

_{Paid up capital : AUD 150,000}

ownership / shareholders

How listed : Full List

Composition

Shareholder name : BRUCE ROBERT PARKER NOMINEES PTY. LTD.

Address : Unit 2, 5 Monterey Road

Dandenong, VIC 3175

Australia

No. of shares : 150,000 Ordinary Shares

% of shares : 100%

Related companies & corporate Affiliations

Structure

Name : BRUCE ROBERT PARKER NOMINEES PTY. LTD.

Affiliation type : Parent Company

Address : Unit 2, 5 Monterey Road

Dandenong, VIC 3175

Australia

Name : HEAD MOD NOMINEES PTY. LTD.

Affiliation type : Associate

Address : Unit 2, 5 Monterey Road

Dandenong, VIC 3175

_Australia

Bank & mortgages

Bank Details

Name of bank : Commonwealth Bank Of Australia

Address : Australia

Account details : Current Account

Comments : It is generally not the policy of local banks to provide credit status information to non related parties, however interested parties would be advised to consult first with the Subject if banker's references are required.

Mortgages

Satisfied Charge Details:

ASIC Charge Number: 1456409

Date Registered: 22-05-2007

Charge type: Both Fixed & Floating

Date Created: 14-05-2007

Chargees Name: GE COMMERCIAL CORPORATION (AUSTRALIA) PTY LTD

Unsatisfied Charge Details:

ASIC Charge Number: 1691443

Date Registered: 10-09-2008

Charge type: Both Fixed & Floating

Date Created: 26-08-2008

Chargees Name: COMMONWEALTH BANK OF AUSTRALIA

Legal Fillings

Bankruptcy fillings : None reported.

Court judgements : None reported.

Tax liens : None reported.

Others : None reported.

financial data

Description

Source of financial statement : External Sources

Financial statement date : 30/06/11

Type of accounts : Estimated key figures

Currency : Australia Dollar (AUD)

Exchange rate : 1 USD = AUD 0.98 as of 30-12-2011

Summarized Financial Information

Consolidation type : _{Non Consolidated}

^{Currency :}Australia Dollar (AUD)

^{Denomination :}(x1) One

^{Date of financial year end :}30/06/11

^{Length of accounts :}12 months

^{Sale turnover / Income :}15,000,000

Comments : The Subject is classified as a small proprietary company by the Australian Securities & Investments Commission hence is not required to disclose their financial statement.

A proprietary company is defined as small for a financial year if it satisfies at least two of the following:

- The consolidated revenue for the financial year of the company and any entities it controls is less than $25 million;

-The value of the consolidated gross assets at the end of the financial year of the company and any entities it controls is less than $12.5 million, and

-The company and any entities it controls have fewer than 50 employees at the end of the financial year.

Operation details

Main activities : The Subject is engaged as supplier of motor vehicle spare parts.

Purchases

International : Europe and Asia

Sales

Local : Yes

International : New Zealand

Property & Assets

Premises : The Subject operates from premises located at the verified heading address consisting of warehouse and administrative office.

_{Branches : None reported.}

Summarized country risk

Central bank : Reserve Bank of Australia

Reserve of foreign exchange & gold : US$ 41.385 billion

Gross domestic product – GDP : US$ 1.235 trillion

GPP (Purchasing power parity) : 918.529 billion of International dollars

GDP per capita - current prices : US$ 55,590

GDP - composition by sector : agriculture: 4.1% industry: 26% services: 70%

Inflation : 2008: 4.4%

2009: 1.8%

2010: 2.8%

Unemployment rate 2008: 4.2 %

2009: 5.6 %

2007:5.2 %

Public debt

(General Government gross

debt as a % GDP) 2008: 11.6%

2009: 17.6%

_{2010: 22.3 %}

Government bond ratings Standard & Poor's: AAA-/Stable/A-1+

Moody's rating: Aaa

Moody's outlook: STA

Market value of publicly traded shares US$ 1.258 trillion

Largest companies in the country : Commonwealth Bank (Banking), BHP Billiton (Materials), Westpac Banking Group (Banking), Rio Tinto (Materials), National Australia Bank (Banking), ANZ Banking (Banking), Telstra (Telecommunications)

Trade & Competitiveness Overview

Total exports US$210.7 billion

Exports commodities coal, iron ore, gold, meat, wool, alumina, wheat

Total imports US$187.2 billion

Imports commodities machinery and transport equipment, computers and office machines, telecommunication equipment and parts, crude oil and petroleum products

Export - major partners Japan 18.9%, China 14.2%, South Korea 8%, US 6%, NZ 5.6%, India

5.5%, UK 4.2%

Import - major partners China 15.5%, US 12.8%, Japan 9.6%, Singapore 5.6%, Germany

5.2%, UK 4.3%, Thailand 4.2%

FDI Inflows 2007: US$45,477 million

2008: US$46,722 million

2009: US$22,572 million

_{FDI Outflows 2007:
US$16,822 million}

2008: US$32,819 million

2009: US$ 18,426 million

Best countries for doing business : 10 out of 183 countries

Global competitiveness ranking : 16 (ranking by country on a basis of 133, the first is the best)

Country and Population Overview

Total population : 22.23 million

Total area : 7,692,024 km2

Capital : Canberra

_{Currency : Australian Dollars (AUD)}

Internet users as % of total population : 74.00%

Payment history

Purchase Term

International : L/C, Prepayment, Credit 30-60 days

Sales Term

Local : Prepayment, Credit 30-60 days

International : Prepayment, Credit 30-60 days

Trade Reference/ Payment Behaviour

Comments : As local and international trade references were not supplied, the Subject's payment track record history cannot be appropriately determined.

Investigation Note

Sources : Interviews and material provided by the Subject

: Other official and local business sources

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.53.27
UK Pound	1	Rs.82.09
Euro	1	Rs.68.90

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.