MIRA INFORM REPORT

Report Date :

25.02.2011

IDENTIFICATION DETAILS

Name :	CARINDA INTERNATIONAL PTY LTD

Registered Office :	32, 10 Gladstone Rd, Castle Hill, Nsw 2154

Country :	Australia

Date of Incorporation :	06.01.1994

Legal Form :	Proprietary Company

Line of Business :	supply of electrical components including transformers and inductive products

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate

Payment Behaviour :	Slow

Litigation :	Exists

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 30, 2010

Country Name

Previous Rating

(01.04.2010)

Current Rating

(30.06.2010)

Australia

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

REGISTERED NAME

CARINDA INTERNATIONAL PTY LTD

ACN: 063 038 442

ABN: 12 063 038 442

CORPORATE SEARCH

INCORPORATED 6 January 1994

REGISTERED ADDRESS 32, 10 Gladstone Rd

CASTLE HILL, NSW 2154

SHARECAPITAL $2

SHAREHOLDERS BROWN, David Craig Holds 2 shares

DIRECTORS BROWN, David Craig

7 Okeefe Rd

ANNANGROVE, NSW 2156

SECRETARY BROWN, David Craig

7 Okeefe Rd

ANNANGROVE, NSW 2156

REGISTERED CHARGES Registered Charge Number : 642025

Date Registered : 060.5.1998

Status : Fixed and floating

Creditor : National Australia Bank

BUSINESS STRUCTURE

TRADING ADDRESS 32, 10 Gladstone Rd

CASTLE HILL, NSW 2154

TELEPHONE (612) 9894 9800

FACSIMILE (612) 9634 2708

BANK NATIONAL AUSTRALIA BANK

EMPLOYEES 8 - 9

BACKGROUND

The subject was incorporated in New South Wales on 6 January 1994 under the current style.

Operations were founded as a new venture in 1993.

OPERATIONS

The subject operates in the supply of electrical components including transformers and inductive products.

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

ADVERSE

A search of the of Baycorp Advantage Limited traced the following litigation listed against the subject at that date.

Default Report Listing

Account Number : 21752

Account Type : 7 day account

Member : Direct Freight Express

Date : 10 Feb 2009

Amount : $1,740

Reason : Payment default

Assoc Code : Company’s Account

Status : Paid 24 March 2009

FINANCES

The subject is not required to lodge financial statements with the Australian Securities and Investments Commission.

During the current investigation contact with the subject’s principals was unable to be established. Despite numerous messages being left no reply has been received.

As a result, details pertaining to the subject’s financial and trading position were unable to be obtained for the current enquiry.

The subject maintains an overdraft facility with the National Australia Bank, which is secured by a registered charge and is used to assist in funding Working Capital requirements.

TRADE SURVEY

During the current investigation, details pertaining to the subject’s suppliers were unable to be obtained.

A trade survey on the subject was subsequently unable to be conducted.

SUMMARY

The subject was incorporated in New South Wales on 6 January 1994 under the current style.

Operations were founded as a new venture in 1993.

During the current investigation, details pertaining to the subjects trading and financial position were unable to be obtained.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.45.37
UK Pound	1	Rs.73.54
Euro	1	Rs.62.39

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

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.