MIRA INFORM REPORT

Report Date :

20.07.2012

IDENTIFICATION DETAILS

Name :	TWIN DISC (FAR EAST) PTE. LTD.
Registered Office :	80 Robinson Road #02-00 Singapore 068898
Country :	Singapore
Financials (as on) :	30.06.2011
Date of Incorporation :	28.12.2010
Com. Reg. No.:	201027287C
Legal Form :	Limited Private Company
Line of Business :	Wholesale Of Marine Equipment And Accessories (Including Marine Navigational Equipment And Radar)
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

C

RATING		STATUS	PROPOSED CREDIT LINE
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended

Status :	Yet to Commenced Business
Payment Behaviour :	--
Litigation :	--

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, 2012

Country Name	Previous Rating (31.12.2011)	Current Rating (31.03.2012)
Singapore	A1	A1

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

Company Name:	Registered Number:
TWIN DISC (FAR EAST) PTE. LTD.	201027287C

Date Incorporated:	Registered Office:	Telephone Number:
28/12/2010	80 ROBINSON ROAD #02-00 SINGAPORE 068898	NA
Age of Company:	Website:	Industry Type:
2	NA	COMMERCE-WHOLESALE

Risk Dashboard
Days Beyond Terms	Trend:	No. of Litigation Counts:
Company DTC:		NA
51 Days
Better than last month;last month the entity took 91 days to pay		No. of Charges(s): 0
Industry DTC
25 Days

Directors		Corporate Structure
Number of Current Directors	7	Holding Company:	TWIN DISC (FAR EAST) LIMITED
Number that are shareholders	2	No. of Subsidiaries & Associated Companies:	NA

Executive Summary

Company Name	:	TWIN DISC (FAR EAST) PTE. LTD.
Registration No	:	201027287C
Date of Registration	:	28/12/2010
Former Name	:	NA
Date of Change of Name	:	NA
Type of Company	:	Limited Private Company
Registered Address	:	80 ROBINSON ROAD #02-00 SINGAPORE 068898
Date of Change of Address	:	01/11/2011
Contact No.	:	NA
Fax No.	:	NA
Website	:	NA
Registered Activities	:	1. Wholesale Of Marine Equipment And Accessories (Including Marine Navigational Equipment And Radar) Distribution And After-Sales Support For Mechanical Power Transmissions 2. Other Business Support Services Activities Nec (Eg Administration Of Loyalty Programmes) Distribution And After-Sales Support For Electronic Controls And Surface Drive
Issued Ordinary Capital*	:	$9,004,732.00 SINGAPORE, DOLLARS NO. OF SHARE : 9,004,732
Issued Preference Capital	:	NA
Paid-Up Ordinary Capital	:	$9,004,732.00 SINGAPORE, DOLLARS
Paid-Up Preference Capital	:	NA
* Number of Shares includes number of Issued Treasury Shares
Issued Treasury Capital	:	NA
Paid-Up Treasury Capital	:	NA
No. of Local Subsidiaries	:	NA
No. of Local Associates	:	NA
Auditor	:	Pricewaterhousecoopers Llp
Bankers / Financiers	:	NA
Turnover	:	$0.00 (FY2011)
Net Worth	:	$1.00 (FY2011)
No. of Bank Charges	:	NA
No. of Litigation Suits	:	NA
S1000 / SME 1000 / FG50 Ranking	:	No found for SINGAPORE 1000 and SME 1000

SHAREHOLDER DETAILS

NAME	:	TWIN DISC (FAR EAST) LIMITED
SHAREHOLDER ID	:	T11UF3625H
NATIONALITY	:	UNITED STATES
ADDRESS	:	229, SOUTH STATE STREET,CITY OF DOVER,COUNTY OF KENT, STATE OF DELAWARE, USA
NO. OF ORD SHARES	:	9,004,731
% OF SHAREHOLDING	:	100%
CURRENCY	:	SINGAPORE, DOLLARS
NAME	:	TWIN DISC, INCORPORATED
SHAREHOLDER ID	:	T11UF1006L
NATIONALITY	:	NA
ADDRESS	:	1328 RACINE STREET, RACINE WI 53403 UNITED STATES OF AMERICA
NO. OF ORD SHARES	:	1
% OF SHAREHOLDING	:	0%
CURRENCY	:	SINGAPORE, DOLLARS

OFFICER DETAILS

NAME	:	MICHAEL ELLSWORTH BATTEN
ADDRESS	:	3419 MICHIGAN BLVD., RACINE, WI 53402 UNITED STATES OF AMERICA
POSITION	:	DIRECTOR
DATE OF APPT	:	28/12/2010
NATIONALITY	:	AMERICAN
I/C PASSPORT	:	027746918
NAME	:	JOHN HITCHCOCK BATTEN
ADDRESS	:	5606 RIVER HILLS DRIVE RACINE, WI 53402 UNITED STATES OF AMERICA
POSITION	:	DIRECTOR
DATE OF APPT	:	28/12/2010
NATIONALITY	:	AMERICAN
I/C PASSPORT	:	028459083
NAME	:	JEFFREY SCOTT KNUTSON
ADDRESS	:	1651 MOUNTAIN AVENUE, WAUWATOSA WISCONSIN 53213, UNITED STATES OF AMERICA
POSITION	:	DIRECTOR
DATE OF APPT	:	28/12/2010
NATIONALITY	:	AMERICAN
I/C PASSPORT	:	214608778
NAME	:	JAMES EDWARD FEIERTAG
ADDRESS	:	7336 WOODBURY DRIVE, FRANKLIN, WI 53132 UNITED STATES OF AMERICA
POSITION	:	DIRECTOR
DATE OF APPT	:	28/12/2010
NATIONALITY	:	AMERICAN
I/C PASSPORT	:	467489959
NAME	:	CHRISTOPHER JOSEPH EPERJESY
ADDRESS	:	830 WATERS EDGE ROAD, RACINE, WI 53402 UNITED STATES OF AMERICA
POSITION	:	DIRECTOR
DATE OF APPT	:	28/12/2010
NATIONALITY	:	AMERICAN
I/C PASSPORT	:	479187730
NAME	:	HENRI CLAUDE JEAN GHISLAIN FABRY
ADDRESS	:	AVENUE DU PARC, 88 4053 EMBOURG BELGIUM
POSITION	:	DIRECTOR
DATE OF APPT	:	28/12/2010
NATIONALITY	:	BELGIAN
I/C PASSPORT	:	EH379939
NAME	:	KENNY YEO WAI SOON
ADDRESS	:	24 WATTEN VIEW WATTEN HILL SINGAPORE 287145
POSITION	:	DIRECTOR
DATE OF APPT	:	28/12/2010
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S1676753J

OFFICER DETAILS

NAME	:	NOR HAFIZA ALWI
ADDRESS	:	2 GHIM MOH ROAD #07-318 SINGAPORE 270002
POSITION	:	SECRETARY
DATE OF APPT	:	09/03/2011
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S1788410G
NAME	:	LEE BEE FONG
ADDRESS	:	118D JALAN MEMBINA #07-103 SINGAPORE 164118
POSITION	:	SECRETARY
DATE OF APPT	:	09/03/2011
NATIONALITY	:	SINGAPORE P.R.
I/C PASSPORT	:	S7376654J

KEY PERSONNEL PROFILE

Name:	MICHAEL ELLSWORTH BATTEN
NRIC Number:	027746918
Available Address:	3419 MICHIGAN BLVD., RACINE, WI 53402 UNITED STATES OF AMERICA

Current Business Interest

No.	Name	Position	Appt Date	#of Share	%
1	TWIN DISC (FAR EAST) PTE. LTD.	DIRECTOR	28/12/2010	-	NA

Previous Business

No.	Name	Status	Position	Appt Date	Last Known Inactive Date
No Trace

Bankruptcy Record

(Status include petition filed, order made, discharge, annulment, set aside, rescinded and withdrawn)

Case No.	Year	Date of Filing	Petitioner Name	Amount
No Trace

Note: Please purchase case details to know the latest status.

Litigation Search – Writ of Summons

Court	Case No.	Transfer	Year	Date of Filing	Amount	Cause Category
No Trace

SUBSIDIARIES AND ASSOCIATE COMPANIES IN S’PORE

Company	Shareholdings (%)
NA

BANKERS/ FINANCIERS

Subject enjoys a normal banking routine with its bankers. To date, there are no bank charges registered against Subject by its bankers.

LITIGATION

Clear

COMPLIANCE RECORDS

Date of Last AGM	:	06/02/2012
Date of Last AR	:	27/02/2012
Date of A/C Laid at Last AGM	:	30/06/2011

COMPLIANCE RATING FOR ANNUAL FILING

ANNUAL GENERAL MEETING,ANNUAL RETURN OR ACCOUNTS LATE

Note:

Provided by ACRA (Accounting and Corporate Regulatory Authority), the Compliance Rating for Annual Filing measures a company’s compliance with the provisions under S175, S197 or S201 of the Companies Act, Cap. 50.

Applicable to all “Live” locally incorporated companies except for the Limited Partnerships, Limited Liability Partnerships, Business Entities, Foreign Companies and Public Accounting Firms, the rating provide information on whether a company is up-to-date with the holding of its Annual General Meeting (AGM) with up-to-date financial statements and filing of its Annual Return (AR).

For more information: www.acra.gov.sg/compliance

FINANCIAL HIGHLIGHTS

Auditor’s Comments – True and Fair? Yes

	Company
FINANCIAL YEAR	30/06/2011 $
Turnover	0
Profit Before Tax and Minority Interest	0
Profit After Tax and Minority Interest	0
ASSETS
Current Assets	1
Non-current Assets	313,873
- Fixed Assets	0
- Intangible Assets	0
- Long-term Investments	0
Total Assets	313,874
LIABILITIES
Current Liabilities	313,873
Long-Term Liabilities	0
Total Liabilities	313,873
SHAREHOLDERS’ FUNDS
Share Capital	1
Share Premium	0
Retained Earnings	0
Minority Interest	0
Other Reserves	0
Shareholders Funds	1

FINANCIAL RATIOS

	Company
FINANCIAL YEAR END	30/06/2011
PROFITABILITY
Rate of Net Profit (%)	NA
Return on Equity (%)	0.00
Return on Assets (%)	0.00
Return on Capital Employed	0.00
DEBT MANAGEMENT
Total Liabilities/Equity (times)	313,873.00
Current Liabilities/Equity (times)	313,873.00
Long Term Liabilities/Equity (times)	0.00
Debt Service Cover Ratio	NA
Short-term Borrowings-to-cash Ratio	NA
EFFICIENCY MANAGEMENT
Total Assets Turnover (times)	0.00
Fixed Assets Turnover (times)	0.00
Interest Coverage Ratio	NA
Average Payment Period (days)	NA
LIQUIDITY MANAGEMENT
Current Ratio (times)	0.00
Quick Ratio (times)	0.00
Average Collection Period (days)	NA

FINANCIAL COMMENTARY

Profitability

We are unable to comment on Subject's profitability

Liquidity

We are unable to comment on Subject's liquidity

FINANCIAL COMMENTARY

Leverage

Total liabilities-to-equity ratio notched 313,873.00 times in FY11. This means that the company requires additional external financing of $313,873.00 for every dollar injected into its operations. Subject's total liability-to-equity is noted to be higher than the industry norm for the sector in which the company is operating.

Generally, a total liability-to-equity ratio of less than 0.5 times is preferred. The ratio measures the proportion of the company's reliance on external debt for financing, relative to the shareholder's fund. A lower ratio would imply a greater financial safety and operating freedom for the company.

Efficiency Ratio

We are unable to comment on Subject's return on equity.

We are unable to comment on Subject's return on assets.

We are unable to comment on Subject's total assets turnover ratio.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.55.38
UK Pound	1	Rs.86.74
Euro	1	Rs.68.06

INFORMATION DETAILS

Report Prepared by :

NLM

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.