MIRA INFORM REPORT

Report Date :

01.10.2011

IDENTIFICATION DETAILS

Name :	TROPHY COMPONENTS DISTRIBUTORS PTY LTD

Registered Office :	361 Woolooware Rd S Burraneer New South Wales 2230

Country :	_Australia

Date of Incorporation :	27.04.1987

Com. Reg. No.:	003280939

Legal Form :	Australian Proprietary Company

Line of Business :	Manufacturing and distribution of various kinds of trophies parts.

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	_{USD 120,000}

Status :	Satisfactory

Payment Behaviour :	Usually Correct

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)

Australia

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

IDENTIFICATION DETAILS

Verified Address

Subject name : TROPHY COMPONENTS DISTRIBUTORS PTY LTD

Business address : Unit 2, 106 Bath Road

Town : Kirrawee

Province : New South Wales

Zip/postal code : 2232

Country : Australia

Tel : + 61 2 95216499

Fax : + 61 2 95211780

Website : www.trophies.com.au

Registered address : 361 Woolooware Rd S

Town : Burraneer

Province : New South Wales

Zip/postal code : 2230

_{Country : Australia}

SUMMARY DETAILS

Executive Summary

Date founded or registered : 27/04/1987

Legal form : Australian Proprietary Company

Chief executive : Peter Leonard Jordan

Issued & paid up capital : AUD 2

Sales turnover : AUD 9,000,000 (Estimated non-consolidated 12 months, 30/06/2011)

Line of business : Manufacturer and distributor of various kinds of trophies parts.

_{Staff employed : 14 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 y : No payment delays noted

_{Credit amount suggestion: USD
120,000}

_{Credit amount asked : Not described.}

STATUTORY DETAILS

Registry Data

Registration date : 27/04/1987

Legal form : Australian Proprietary Company

Registration no Australian Company Number: 003280939

Registered authority : Australian Securities & Investments Commission

Fiscal/ Tax no : Australian Business Number: 60003280939

Registry status : Live/Active

Previous name : NADESSA PTY LTD (initial)

Change of legal form : None reported.

MANAGEMENT / DIRECTORS

Key Management

Name : Peter Leonard Jordan

Designation : Managing Director

Name : Patrick Ward

Designation : General Manager

BOARD OF DIRECTORS/ OTHER APPOINTMENTS

Appointments

Name : Peter Leonard Jordan

Designation : Director and Company Secretary

Appointment date : 11/05/87

Address : 361 Woolooware Rd S Burraneer NSW 2230

Australia

Biography : Born on 13-08-1956 in Sydney, New South Wales, Australia.

Name : Merryn Lee Jordan

Designation : Director

Appointment date : 11/05/87

Address : 361 Woolooware Rd S Burraneer, NSW 2230

Australia

Biography : Born on 26-11-1957 in Darlinghurst, New South Wales, Australia.

_{Staff employed : 14 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 : Peter Leonard Jordan

Address : 361 Woolooware Rd S Burraneer, NSW 2230

Australia

No. of shares : 1 Ordinary Share

% of shares : 50%

Shareholder name : Merryn Lee Jordan

Address : 361 Woolooware Rd S Burraneer, NSW 2230

Australia

No. of shares : 1 Ordinary Share

_{% of shares : 50%}

RELATED COMPANIES & CORPORATE AFFILIATIONS

Structure

Related companies and corporate affiliations comments: None reported.

BANK & MORTGAGES

Bank Details

Name of bank : Commonwealth Bank Of Australia

Address : Australia

Account details : Curent 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: Unsatisfied Charges

ASIC Charge Number: 65200

Date Registered: 15-07-1987

Charge type: Both Fixed & Floating

Date Created: 06-07-1987

Chargees Name: COMMONWEALTH BANK OF AUSTRALIA Satisfied Charges:

ASIC Charge Number: 65295

Date Registered: 11-08-1987

Charge type: Both Fixed & Floating

Date Created: 06-07-1987

Chargees Name: WENKEN PTY LTD

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 1.02 as of 29-09-2011

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 :}9,000,000

Comments : The estimated turnover was provided by Mr. Patrick Ward.

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 manufacturing and distribution of various kinds of trophies parts.

Purchases

International : Mainly from China, United States, Sri Lanka, United Kingdom

Sales

Local : Yes

International : New Zealand, Pacific Islands

Property & Assets

Premises : The Subject operates from the verified heading address consisting of production facilities, warehouse and administrative office.

_{Branches : None reported.}

SUMMARIZED COUNTRY RISK

Gross Domestic Products (GDP) & Economic Overview

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%

_{2010: 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 Services)

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

Sales Term

Local : Credit 30 days

International : Credit 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.48.92
UK Pound	1	Rs.76.52
Euro	1	Rs.66.64

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.