MIRA INFORM REPORT

Report Date :

04.11.2011

IDENTIFICATION DETAILS

Name :	SHAW ALMEX PACIFIC PTY. LTD.
Registered Office :	C/O Abel Vincent & Dick Cpa Accountants, 1378 Logan Road , Mount Gravatt ,Queensland , Zip/Postal Code 4122
Country :	Australia
Date of Incorporation :	27.06.2002
Com. Reg. No.:	101132281
Legal Form :	Australian Proprietary Company
Line of Business :	Distributor of ALMEX brand pressing, laminating, and vulcanizing equipment solutions

RATING & COMMENTS

MIRA’s Rating :

B

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

Maximum Credit Limit :	USD 170,000
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	a1	a1

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 : SHAW ALMEX PACIFIC PTY. LTD.

Business address : Unit 9, 31 Gardens Drive

Town : Willawong

Province : Queensland

Zip/postal code : 4110

Country : Australia

Tel : +61 7 32720422

Fax : +61 7 32720488

Website : www.almex.com

Registered address : C/o ABEL VINCENT & DICK CPA ACCOUNTANTS

1378 Logan Road

Town : Mount Gravatt

Province : Queensland

Zip/postal code : 4122

_{Country : Australia}

Summary details

Executive Summary

Date founded or registered : 27/06/2002

Legal form : Australian Proprietary Company

Chief executive : Kent Geofrey Watson

Issued & paid up capital : AUD 2

Sales turnover : AUD 5,000,000 (Estimated non-consolidated 12 months, 30/06/2011)

Line of business : Distributor of ALMEX brand pressing, laminating, and vulcanizing equipment

solutions

_{Staff employed : 4 employees}

Credit risk opinion

Company Analysis

Country risk : Country risk is minimal

Operation trend : Operational trend is steady

Management experience : Management is reasonably 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 170,000}

_{Credit amount asked : Not described.}

Statutory details

Registry Data

Registration date : 27/06/2002

Legal form : Australian Proprietary Company

Registration no : Australian Company Number: 101132281

Registered authority : Australian Securities & Investments Commission

Fiscal/ Tax no : Australian

Business Number: : 14101132281

Registry status : Live/Active

Previous name : None reported.

Change of legal form : None reported.

Management / directors

Key Management

Name : Kent Geofrey Watson

_{Designation : Managing Director}

Board of directors / other appointments

Appointments

Name : Timothy Shaw

Designation : Director and Company Secretary

Appointment date : 31/10/08

Address : Stoney Creek, ON L8J 2X9

Canada

Biography : Born on 21-07-1961 in Parry Sound, Canada.

Name : Kent Geofrey Watson

Designation : Director

Appointment date : 02/09/11

Address : 36 Hinchinbrook Drive

Kirwan, QLD 4817

Australia

Biography : Born on 21-11-1959 in Papakura, New Zealand.

_{Staff employed : 4 employees}

Share capital

Composition

Authorized Capital : AUD 2

No of shares : 2 Ordinary Shares

Share par value : AUD 1

Issued capital : AUD 2

_{Paid up capital : AUD 2}

ownership / shareholders

How listed : Full List

Composition

Shareholder name : 1045818 ONTARIO INC

Address : Stoney Creek, ON L8J 2X9

Canada

No. of shares : 2 Ordinary Shares

_{% of shares : 100%}

Related companies & corporate Affiliations

Structure

Name : SHAW ALMEX INDUSTRIES LTD

Affiliation type : Ultimate Holding Company

Address : 5055 Benson Drive

Burlington, Ontario L7L 5N7

Canada

Name : 1045818 ONTARIO INC

Affiliation type : Parent Company

Address : Stoney Creek, ON L8J 2X9

Canada

Name : SHAW ALMEX MINE EQUIP (TIANJIN) CO., LTD.

Affiliation type : Sister Company

Address : 13A Sai Da Hui Ya Industrial Park Xiqing Economical Development Area Tianjin, 300385

China

Name : SHAW ALMEX DEUTSCHLAND GMBH

Affiliation type : Sister Company

Address : Brunnenstrasse 8

4110 Bad Harzburg

Germany

Name : SHAW ALMEX INDIA (PVT) LTD.

Affiliation type : Sister Company

Address : Plot 49, Sector 27C Faridabad 121003

Haryana

India

Name : SHAW ALMEX AFRICA PTY. LTD.

Affiliation type : Sister Company

Address : 11 Picaroon St., Lazer Park

Honeydew, Gauteng 2040

South Africa

Name : SHAW ALMEX CHILE S.A.

Affiliation type : Sister Company

Address : Maria Josefina No. 1258 D.

Lote 6-02 Parque Industrial Santiago Norte

Lampa, Santiago

Chile

Name : SHAW ALMEX USA INC.

Affiliation type : Sister Company

Address : 4045 Five Forks Trickum Road

Suite B8-303 Lilburn

Georgia 30047

USA

Name : SHAW ALMEX FUSION CANADA LTD.

Affiliation type : Sister Company

Address : 5055 Benson Drive

Burlington, Ontario L7L 5N7

Canada

Name : SHAW ALMEX EUROPE B.V.

Affiliation type : Sister Company

Address : Piter Terpstrawei 30

8914 BJ Leeuwarden

Related companies and corporate affiliations comments:

Other companies of the Shaw Almex Group should be considered as affiliates of the Subject

Bank & mortgages

Bank Details

Name of bank : Suncorp Bank

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 : 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 : 30/06/11

Type of accounts : Estimated key figures

Currency : Australia Dollar (AUD)

Exchange rate : 1 USD = AUD 0.96 as of 24/10/2011

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 :} 5,000,000

Comments : The estimated turnover was provided by Mr. Jeff McCall.

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 in distribution of ALMEX brand pressing, laminating, and vulcanizing

equipment solutions.

The Subject is ultimately owned by Shaw Almex Industries Ltd based in Canada.

Shaw Almex Industries Ltd. is a global leader in pressing, laminating, and vulcanizing equipment solutions.

Shaw Almex Industries Ltd. has 9 corporate facilities and a network of exclusive distributors who are strategically located in five continents to provide a comprehensive sales and service support system to clients in over 120 countries.

Product & services Conveyor belt vulcanizing presses

Conveyor Belt Splicing Tools

Repair & Abrasion

Products: pulley lagging, cold bond splicing material and repair materials

Industrial and production Presses: Membrane Presses & Vacuum Presses

Brand Almex

Purchases

International : Canada, China, India

Sales

Local : Yes

International : Pacific Islands, South East Asia

Property & Assets

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

_{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 : Prepayment, Credit 30 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 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.49.08
UK Pound	1	Rs.78.65
Euro	1	Rs.67.79

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.