MIRA INFORM REPORT

Report Date :

05.01.2011

IDENTIFICATION DETAILS

Name :	UNITED FLEXIBLE NZ PTY LTD

Registered Office :	Level 6, 57 Symonds Street, Grafton, Auckland 1010

Country :	New Zealand

Date of Incorporation :	28.11.2001

Legal Form :	NZ Limited Company

Line of Business :	Distribution of engineering supplies specializing in flexible hose, hydraulic fittings, rubber and PVC industrial hose, petrol tanker hoses etc.

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 :	Unknown

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 30, 2010

Country Name

Previous Rating

(01.04.2010)

Current Rating

(30.06.2010)

New Zealand

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

REGISTERED NAME and address

UNITED FLEXIBLE NZ PTY LTD

Entity Type:	NZ Limited Company
Incorporated:	28 Nov 2001
Current Status:	Registered
Constitution Filed:	Yes
Annual Return Filing Month:	August

Company Addresses

Registered Office

Level 6, 57 Symonds Street, Grafton, Auckland 1010

Address for Service

Level 6, 57 Symonds Street, Grafton, Auckland 1010

Directors

BEDOGNI, Keith Graham

5 Williams Road, Hobsonville, Waitakere 0618

BEDOGNI, Nicoli Keith

67 Beachlands Road, Beachlands, Manukau 2018

Shareholdings

Total Number of Shares:	200,000
Extensive Shareholdings:	No

100,000	BEDOGNI, Nicoli Keith 67 Beachlands Road, Beachlands, Manukau 2018
	HOUGH, Megan Joy 67 Beachlands Road, Beachlands, Manukau 2018
	MCFARLANE, Karen Lee 67 Beachlands Road, Beachlands, Manukau 2018
100,000	BEDOGNI, Hazel Gwendoline 5 Williams Road, Hobsonville, Waitakere 0618
	BEDOGNI, Keith Graham 5 Williams Road, Hobsonville, Waitakere 0618
	STEEL, John 92 Campbell Street, Karori, Wellington 6012

BUSINESS STRUCTURE

TRADING ADDRESS Unit 3, 5c Industry Rd

PENROSE, AUCKLAND, NZ

TELEPHONE (649) 579 2103

BRANCHES HAMILTON, NZ

CHRISTCHURCH, NZ

BANK ANZ NATIONAL BANK

EMPLOYEES 11 to 12

BACKGROUND

The subject was incorporated in New Zealand on 28 November 2001 under the current style.

Operations commenced in early 2002.

OPERATIONS

The subject operates in the distribution of engineering supplies specializing in flexible hose, hydraulic fittings, rubber and pvc industrial hose, petrol tanker hoses etc.

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

FINANCES

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

During the current interview conducted with Director, Keith Bedogni, he declined to confirm or provide any details pertaining to the subject unless the source of the enquiry was released.

Details pertaining to the subject’s financial and trading position were subsequently unable to be obtained for the current enquiry.

TRADE SURVEY

Details pertaining to the subjects suppliers were not provided for the current enquiry.

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

SUMMARY

The subject was incorporated in New Zealand on 28 November 2001 under the current style.

Operations commenced in early 2002.

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

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.84
UK Pound	1	Rs.69.32
Euro	1	Rs.59.79

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.