MIRA INFORM REPORT

Report Date :

14.10.2011

IDENTIFICATION DETAILS

Name :	EASTCOAST FASTENERS PTY. LIMITED
Registered Office :	C/O Richard J Hickey & Co, 14b Hannah Street, Beecroft, New South Wales 2119
Country :	Australia
Date of Incorporation :	21.09.1992
Com. Reg. No.:	057540637
Legal Form :	Australian Proprietary Company
Line of Business :	Import and distribution of fasteners

RATING & COMMENTS

MIRA’s Rating :

Ba

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

Maximum Credit Limit :	USD 130,000
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 – 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 :	EASTCOAST FASTENERS PTY. LIMITED
Business address :	Unit 38, 1 Cowpasture Place
Town :	Wetherill Park
Province :	New South Wales
Zip/postal code :	2164
Country :	Australia
Tel :	+61 2 97564844
Fax :	+61 2 97564848
Email :	sales@eastcoastfasteners.com.au
Website :	www.eastcoastfasteners.com.au
Registered address :	C/o RICHARD J HICKEY & CO 14B Hannah Street
Town :	Beecroft
Province :	New South Wales
Zip/postal code :	2119
Country :	Australia
Postal address :	P.O. Box 6263
Town :	Wetherill Park
Province :	New South Wales
Zip/postal code :	2164
Country : Australia	Australia

Summary details

Executive Summary

Date founded or registered : 21/09/1992

Legal form : Australian Proprietary Company

Chief executive : Paul Robert Neal

Issued & paid up capital : AUD 102

Line of business : Import and distribution of fasteners.

Staff employed : 7 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 undetermined

Organization structure : Organizational structure is stable

Detrimental : No detrimental records found

Payment history : No payment delays noted

Credit amount suggestion : USD 130,000

_{Credit amount asked : USD 300,000}

Statutory details

Registry Data

Registration date : 21/09/1992

Legal form : Australian Proprietary Company

Registration no Australian Company Number : 057540637

Registered authority : Australian Securities & Investments Commission

Fiscal/ Tax no : Australian Business Number : 18057540637

Registry status : Live/Active

Previous name : None reported.

Change of legal form : None reported.

Management / directors

Key Management

Name : Paul Robert Neal

_{Designation : Managing Director}

Board of directors / other appointments

Appointments

Name : Paul Robert Neal

Designation : Director and Company Secretary

Appointment date : 22/09/92

Address : 1 Tyagarah Street

Ryde, NSW 2112

Australia

Biography : Born on 24-11-1958 in Auckland, New Zealand.

_{Staff employed : 7 employees}

Share capital

Composition

Authorized Capital : AUD 102

No of shares : 1 E Class Share / 1 F Class Share / 100 Ordinary Shares

Share par value : AUD 1

Issued capital : AUD 102

_{Paid up capital : AUD 102}

ownership / shareholders

How listed : Full List

Composition

Shareholder name : Paul Robert Neal

Address : 1 Tyagarah Street

Ryde, NSW 2112

Australia

No. of shares : 1 E Class Share / 1 F Class Share / 100 Ordinary Shares

% of shares : 100%

Related companies & corporate Affiliations

Structure

Related companies and corporate affiliations comments : None Reported

Bank & mortgages

Bank Details

Name of bank : Australia And New Zealand Banking Group Limited

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:

Unsatisfied Charges:

ASIC Charge Number: 853487

Date Registered: 26-03-2002

Charge type: Both Fixed & Floating

Date Created: 13-11-2001

Chargees Name: AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED

ASIC Charge Number: 1916128

Date Registered: 21-01-2010

Charge type: Fixed

Date Created: 11-01-2010

Chargees Name: BOQ EQUIPMENT FINANCE LIMITED

ASIC Charge Number: 2121906

Date Registered: 27-01-2011

Charge type: Fixed

Date Created: 13-01-2011

Chargees Name: BOQ EQUIPMENT FINANCE LIMITED

ASIC Charge Number: 2123540

Date Registered: 31-01-2011

Charge type: Fixed

Date Created: 27-01-2011

Chargees Name: BOQ EQUIPMENT FINANCE LIMITED

ASIC Charge Number: 2172903

Date Registered: 11-05-2011

Charge type: Fixed

Date Created: 28-04-2011

Chargees Name: BOQ EQUIPMENT FINANCE LIMITED

Legal Fillings

Bankruptcy fillings : None reported.

Court judgements : None reported.

Tax liens : None reported.

Others : None reported.

financial data

Description

Comments : The representative contacted Mr. Paul Robert Neal declined to provide any financial information until the Subject’s exporter identity is revealed.

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's main activities are import and distribution of fasteners.

Product & services Screws

Bolts

Rivets Nuts

Washers Drills

_{Masonry Fixings}

Purchases

International : Taiwan, China

Sales

Local : Yes

International : New Zealand

Property & Assets

Premises : The Subject operates from premises located at the verified heading address consisting of 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)

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 :} Australia, Dollars (AUD)

Internet users as % of total population : _74.00%

Payment history

Purchase Term

International : L/C at 60 days

Sales Term

Local : Credit 60 days

International : 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.49.18
UK Pound	1	Rs.76.65
Euro	1	Rs.66.63

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.