MIRA INFORM REPORT

Report Date :

07.06.2011

IDENTIFICATION DETAILS

Name :	SUMMIT TRADES LIMITED

Registered Office :	61 Reeves Road, Pakuranga, Auckland Zip/postal code 2010

Country :	New Zealand

Date of Incorporation :	18.04.2000

Com. Reg. No.:	1031452

Legal Form :	Private Limited Company

Line of Business :	Import and sales of spices, rice, mango juice and other food products

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 – March 31^st, 2011

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

New Zealand

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

IDENTIFICATION DETAILS

Bottom of Form

Verified Address

Subject name : SUMMIT TRADES LIMITED

Other style / Business name :SUMMIT TRADERS

Business address : 61 Reeves Road

Town : Pakuranga

Province : Auckland Zip/postal code : 2010

Country : New Zealand

Tel : +64 9 2573341 / 2573351 / 21 2173482

Fax : +64 9 2573340

Email : summit_ltd@hotmail.com

Registered address :61 Reeves Road Town : Pakuranga

Province :Auckland

Zip/postal code :2010

Country :New Zealand

Comments : The provided name Summit Traders is the trading name used

under the registered entity Summit Trades Limited.

Contact details provided +64 21 2173482 is the mobile number of Mr. Stephen Jeyashankar Antony who is the Managing Director of the Subject.

SUMMARY DETAILS

Executive Summary

Date founded or registered : 18/04/2000

Legal form : Private Limited Company Chief executive : Stephen Jeyashankar Antony Issued & paid up capital : NZD 1,000

Sales turnover : NZD 3,000,000 (Estimated Non-consolidated 12 months,

31/03/2011)

Line of business : Import and sales of spices, rice, mango juice and other food

products.

_{Staff employed : 2 including director}

Company Analysis

Country risk : Country risk is minimal

Operation trend : Operational trend is developing

Management experience : Management is modestly experienced

Financial performance : Financial performance is fair

Organisation structure : Organisational structure is acceptable

Detrimental : No detrimental records found

Payment history : No payment delays noted

_{Comments : We believe the Subject would be able to
uphold the credit amount}

_suggestedbased on the years of establishment, nature of business and estimated turnover. It is advisable to conduct business on L/C’s or prepayment for larger credit than the amount suggested.

STATUTORY DETAILS

Registry Data

Registration date : 18/04/2000

Legal form : Private Limited Company

Registration no : 1031452

Registered authority : New Zealand Companies Office

Registry status : Live/Active

Previous name : None reported.

Change of legal form : None reported.

MANAGEMENT / DIRECTORS

Key Management

Name : Stephen Jeyashankar Antony

_{Designation : Managing Director}

BOARD OF DIRECTORS/ OTHER APPOINTMENTS

BOARD OF DIRECTORS/ OTHER APPOINTMENTS

Appointments

Name : Stephen Jeyashankar Antony Designation : Managing Director Appointment date : 18/04/00

Address : 61 Reeves Road

Pakuranga, Auckland 2010

New Zealand

_{Staff employed : 2 including director}

Share capital

Composition

Authorized Capital : NZD 1,000

No of shares : 1,000 Shares

Share par value : NZD 1

Issued capital : NZD 1,000

_{Paid up capital : NZD 1,000}

Ownership / shareholders

How listed : Full List

Composition

Shareholder name : Stephen Jeyashankar Antony

Address : 61 Reeves Road

Pakuranga, Auckland 2010

New Zealand

No. of shares : 1,000 Shares

_{% of shares : 100%}

Related companies & corporate afiliations

Structure

Name : SUMMIT BUILDERS NZ LIMITED

Affiliation type : Associate

Address : 10a Gwenand Place

Botany Downs, Auckland 2010

New Zealand

Comments : Mr. Roshan Anthony who is Mr. Stephen Jeyashankar Antony brother is a director and shareholder of this company.

Name : SUMMIT PROPERTIES (2007) LIMITED

Affiliation type : Associate

Address : 61 Reeves Road

Pakuranga, Auckland 2010

New Zealand

Comments : Mr. Roshan Anthony who is Mr. Stephen Jeyashankar Antony brother is a director and shareholder of this company.

Name : TIGER EARTHMOVERS NZ LIMITED Affiliation type : Associate

Address : 37 Kurnell Drive

Botany Downs, Auckland, 2010

New Zealand

Comments : Mr. Roshan Anthony who is Mr. Stephen Jeyashankar Antony brother is a director and shareholder of this company. Related companies and corporate affiliations comments : Mr. Stephen Jeyashankar Antony is not a director and shareholder of any other companies

BANK & mortgages

Bank Details

Name of bank : Bank of New Zealand

Address : New Zealand

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: None reported.

Legal Fillings

Bankruptcy fillings : None reported.

Court judgements : None reported.

Tax liens : None reported.

Others : None reported.

FINANCIAL DATA

Description

Source of financial statement : Provided by the Subject

Financial statement date : 31/03/11

Type of accounts : Estimated key figures

Currency : New Zealand, Dollar (NZD) Exchange rate : 1 USD = NZD 1.23 as 06-06-2011

Summarized Financial Information

^{Consolidation type :}Non Consolidated

^{Currency :}New Zealand, Dollar (NZD)

^{Denomination :}(x1) One

^{Date of financial year end :}31/03/11

^{Length of accounts :}12 months

^{Sale turnover / Income :}3,000,000

Comments : The representative contacted Mr. Stephen Jeyashankar Antony provided the estimated sale turnover figure.

Private Companies in New Zealand are not required to file accounts unless classified as "Large", which at the moment means that two out of the following three conditions are met:

- The company has a sales turnover of over NZD 20,000,000;

- The company has total assets of over NZD 10,000,000;

- The company employs 50 people or more.

_{The Subject does
not meet the criteria of being a large Private Company.}

OPERATION DETAILS

Main activities : Subject main activities are importation and sales of spices,

rice, mango juice and other food products.

Purchases

International : India, Pakistan, Sri Lanka, United Arab Emirates, Singapore, Malaysia, Myanmar

Sales

Local : Yes

International : No exports.

Property & Assets

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

_{Branches : None reported.}

SUMMARIZED COUNTRY RISK

Gross Domestic Products (GDP) & Economic Overview

Central bank : Reserve Bank

of New Zealand

Reserve of foreign exchange & gold : US$ 18.421 billion

Gross domestic product - GDP : US$ 138.003 billion

GPP (Purchasing power parity) : 119.791 billion of International dollars

GDP per capita - current prices : US$ 31,589

GDP - composition by sector : agriculture : 4.6%

industry: 23.7%

services: 71.7%

Inflation : 2008: 4%

2009: 2.1%

2010: 2.5%

Unemployment rate : 2008:4%

2009 :2.1%

2010 :2.5%

Public debt

(General Government gross debt as a % GDP) 2008 : 4.2%

2009:26.2%

2010:31%

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

Moody's rating: Aaa

_{Moody's outlook: STA}

Market value of publicly traded shares US$ 367.061 billion

Largest companies in the country : Telecom of New Zealand, Transpower, Fletcher

Building,Infratil

Trade & Competitiveness Overview

Total exports : US$29.53 billion

Exports commodities : dairy products, meat, wood and wood products, fish, machinery

Total imports : US$31.11 billion

Imports commodities : machinery and equipment, vehicles and aircraft, petroleum, electronics, textiles, plastics

Export - major partners : Australia 22%, US 11.5%, Japan 9.2%, China 5.3%, UK 4.6%

Import - major partners : Australia 20.7%, China 13.4%, US 9.7%, Japan 9.5%, Singapore 4.9%,

Germany 4.7%

FDI Inflows : 2007: US$3,441 million

2008: US$4,993 million

2009: US$348 million

FDI Outflows : 2007: US$3,703 million

2008: US$-239 million

_{2009: US$-406 million}

Best countries for doing business : 3 out of 183 countries

Global competitiveness ranking : 23 (ranking by country on a basis of 133, the first is the best)

Country and Population Overview

Total population : 4.37 million

Total area : 270,467 km2

Capital : Wellington

_{Currency : New Zealand dollars (NZD}

Internet users as % of total population : 84.38%

PAYMENT HISTORY

Purchase Term

International : Mainly L/C 45 days from BL

Sales Term

Local : Prepayment, Credit 14-30 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 but based on our research, payments are believed to be met without delay.

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.44.72
UK Pound	1	Rs.73.46
Euro	1	Rs.65.47

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.