MIRA INFORM REPORT

Report Date :

20.01.2012

IDENTIFICATION DETAILS

Name :	ONE ELEVEN PTY LTD
Registered Office :	43 Old Geelong Road Brooklyn Victoria 3012
Country :	Australia
Date of Incorporation :	24.01.1994
Com. Reg. No.:	063243489
Legal Form :	Australian Proprietary Company
Line of Business :	Distributor of tools and storage products
No. of Employees :	15 employees

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 180,000
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, 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

IDENTIFICATION DETAILS

Verified Address Subject name :	ONE ELEVEN PTY LTD
Business address :	43 Old Geelong Road
Town :	Brooklyn
Province :	Victoria
Zip/postal code :	3012
Country :	Australia
Tel :	+61 3 83256999
Fax :	+61 3 83256985
Email :	sales@1-11.com.au
Website :	www.oneeleventools.com
Registered address :	C/o Richard J. Hartnett Level D, 42 Upper Heidelberg Road
Town :	Ivanhoe
Province :	Victoria
Zip/postal code :	3079
Country :	Australia
Postal address :	P.O. Box 377
Town :	Altona North
Province :	Victoria
Zip/postal code :	3025
Country :	Australia

SUMMARY DETAILS

Executive Summary

Date founded or registered : 24/01/1994

Legal form : Australian Proprietary Company

Chief executive : William Leon

Issued & paid up capital : AUD 100,000

Line of business : Distributor of tools and storage products.

Staff employed : 15 employees

CREDIT RISK OPINION

Company Analysis

Country risk : Country risk is minimal

Operation trend : Operational trend is steady

Management experience : Management is adequately experienced

Financial performance : Financial performance is fair

Organization structure : Organizational structure is stable

Detrimental records : No detrimental records found

Payment history : No payment delays noted

_{Credit amount suggestion : USD 180,000}

_{Credit amount asked : USD 500,000}

STATUTORY DETAILS

Registry Data

Registration date : 24/01/1994

Legal form : Australian Proprietary Company

Registration no Australian Company Number: 063243489

Registered authority : Australian Securities & Investments Commission

Fiscal/ Tax no : Australian Business Number: 25063243489

Registry status : Live/Active

Previous name : None reported.

Change of legal form : None reported.

MANAGEMENT / DIRECTORS

Key Management

Name : William Leon

Designation : Managing Director

Name : Rod Alexander Leon

Designation : General Manager Sales & Marketing

Name : Ron Garlepp

Designation : National Sales Manager - Storage

Name : Colin McMillan

_{Designation : National Sales Manager - Tools}

BOARD OF DIRECTORS/ OTHER APPOINTMENTS

Appointments

Name : Robert Anthony Leon

Designation : Director and Company Secretary

Appointment date : 08/11/11

Address : 54 Station Road

Seddon, VIC 3011

Australia

Biography : Born on 19-05-1972 in Sydney, New South Wales, Australia.

Name : William Leon

Designation : Director

Appointment date : 17/11/95

Address : 50 Lorimer Street

Docklands, VIC 3008

Australia

Biography : Born on 11-07-1946 in Arica, Chile.

_{Staff employed : 15 employees}

SHARE CAPITAL

Composition

Authorized Capital : AUD 100,000

No of shares : 100,000 Ordinary Shares

Share par value : AUD 1

Issued capital : AUD 100,000

_{Paid up capital : AUD 100,000}

OWNERSHIP / SHAREHOLDERS

How listed : Full List

Composition

Shareholder name : Sheryle Anne Leon

Address : 50 Lorimer Street

Docklands, VIC 3008

Australia

No. of shares : 40,000 Ordinary Shares

Shareholder name : William Leon

Address : 50 Lorimer Street

Docklands, VIC 3008

Australia

No. of shares : 20,000 Ordinary Shares

Shareholder name : Jointly held by Rod Alexander Leon & William Leon

Address : Rod Alexander Leon

62 Warburton Road

Canterbury, VIC 3126

Australia

William Leon

50 Lorimer Street

Docklands, VIC 3008

Australia

No. of shares : 20,000 Ordinary Shares

Shareholder name : Jointly held by Robert Anthony Leon & William Leon

Address : Robert Anthony Leon

54 Station Road

Seddon, VIC 3011

Australia

William Leon

50 Lorimer Street

Docklands, VIC 3008

_Australia

_{No. of shares : 20,000 Ordinary Shares}

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 : Satisfied Charges:

ASIC Charge Number: 1753716

Date Registered: 09-02-2009

Charge type: Fixed

Date Created: 29-01-2009

Chargees Name: STRATTON FINANCE PTY LTD Unsatisfied Charges:

ASIC Charge Number: 471384

Date Registered: 21-12-1994

Charge type: Both Fixed & Floating

Date Created: 28-11-1994

Chargees Name: AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED

ASIC Charge Number: 1623385

Date Registered: 18-04-2008

Charge type: Fixed

Date Created: 14-03-2008

Chargees Name: MERCEDES-BENZ FINANCIAL SERVICES AUSTRALIA PTY LTD

ASIC Charge Number: 1700346

Date Registered: 01-10-2008

Charge type: Fixed

Date Created: 12-08-2008

Chargees Name: MERCEDES-BENZ FINANCIAL SERVICES AUSTRALIA PTY LTD

ASIC Charge Number: 1815284

Date Registered: 10-07-2009

Charge type: Fixed

Date Created: 18-06-2009

Chargees Name: MERCEDES-BENZ FINANCIAL SERVICES AUSTRALIA PTY LTD

ASIC Charge Number: 1891020

Date Registered: 04-12-2009

_{Charge type: Both Fixed & Floating}

Date Created: 02-12-2009

Chargees Name: ALLIANZ FINANCE PTY LTD

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. Rod Alexander Leon advised that annual turnover is between AUD 5 million to 7 million.

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 tools and storage products in

Australia.

Product & services : TOOL PRODUCTS

-Adjustable Wrenches

-Hammers

-Hex Keys

-Pliers

-Ratchet Wrench Sets

-Ratchets

-Screwdriver Sets

-Socket Sets

-Spanner Sets

-Specialty Tools

-Tape Measures

-Tool Kits

STORAGE PRODUCTS

-Aluminium Checkplate Truck Boxes

-Cantilever Box

-Galvanised Boxes

-Garage Creepers

-High Density Accessories

-High Density Cabinet

-High Density Trolley

-High Density Work Station

-Line Feed Trolleys

-Plastic Storage

-Site Boxes

-Steel Checker Boxes

-Steel Truck Boxes

-Superwide Combination Chest and Trolley

-Tool Carts

-Tool Chests

-Tool Trolleys

-Workstations

Purchases

International : Mainly from China, Taiwan

Sales

Local : Yes

International : New Zealand

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

Gross Domestic Products (GDP) & Economic Overview

Central bank : Reserve Bank of Australia

Reserve of foreign exchange & gold : US$ 43.879 billion

Gross domestic product - GDP : US$ 1.448 trillion

GPP (Purchasing power parity) : 918.529 billion of International dollars

GDP per capita - current prices : US$ 64,351

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 : Westpac Banking Group (Major Banks), BHP Billiton (Diversified Metals & Mining), Commonwealth Bank (Major Banks), National Australia Bank (Major Banks), ANZ Banking (Major Banks), Telstra (Telecommunications services), Wesfarmers (Food Retail)

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 : 2008: US$46,722 million

2009: US$22,572 million

_{2010: US$32,472 million}

FDI Outflows : 2008: US$32,819 million

2009: US$18,426 million

2010: US$26,431 million

Best countries for doing business: 10 out of 183 countries

Global competitiveness ranking : 20 (ranking by country on a basis of 142, 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: 76.00%

PAYMENT HISTORY

Purchase Term

International : Prepayment, Credit 30-60 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.50.29
UK Pound	1	Rs.77.60
Euro	1	Rs.64.67

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.