MIRA INFORM REPORT

Report Date :

23.10.2012

IDENTIFICATION DETAILS

Name :	KOCKEN ENERGY SYSTEMS INCORPORATED
Registered Office :	305 Highway 10 Bridgewater Nova Scotia B4V 2W6
Country :	Canada
Date of Incorporation :	18.09.2002
Com. Reg. No.:	NS 0003070844
Legal Form :	Corporation
Line of Business :	Manufactures Oil & Gas Processing Equipment Mainly, Oil & Gas Separators, Gas Dehydration, HC DewPoint Control, HC Liquid Recovery, Gas Sweetining, Water Treatment, Crude Oil Desalting & Dehydration
No. of Employees :	150

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

Status :	Satisfactory
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 – June 30^th, 2012

Country Name	Previous Rating (31.03.2011)	Current Rating (30.06.2012)
Canada	A1	A1

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

CANADA - ECONOMIC OVERVIEW

As an affluent, high-tech industrial society in the trillion-dollar class, Canada resembles the US in its market-oriented economic system, pattern of production, and affluent living standards. Since World War II, the impressive growth of the manufacturing, mining, and service sectors has transformed the nation from a largely rural economy into one primarily industrial and urban. The 1989 US-Canada Free Trade Agreement (FTA) and the 1994 North American Free Trade Agreement (NAFTA) (which includes Mexico) touched off a dramatic increase in trade and economic integration with the US its principal trading partner. Canada enjoys a substantial trade surplus with the US, which absorbs about three-fourths of Canadian exports each year. Canada is the US's largest foreign supplier of energy, including oil, gas, uranium, and electric power. Given its great natural resources, highly skilled labor force, and modern capital plant, Canada enjoyed solid economic growth from 1993 through 2007. Buffeted by the global economiccrisis, the economy dropped into a sharp recession in the final months of 2008, and Ottawa posted its first fiscal deficit in 2009 after 12 years of surplus. Canada''s major banks, however, emerged from the financial crisis of 2008-09 among the strongest in the world, owing to the financial sector''s tradition of conservative lending practices and strong capitalization. Canada achieved marginal growth in 2010 and 2011 and plans to balance the budget by 2015. In addition, the country''s petroleum sector is rapidly becoming an even larger economic driver with Alberta''s oil sands significantly boosting Canada''s proven oil reserves, ranking the country third in the world behind Saudi Arabia and Venezuela.

Source : CIA

Company Name & Contact Details

Verified
Company Name:	KOCKEN ENERGY SYSTEMS INCORPORATED
Address:	305 Highway 10
City:	Bridgewater
State/province:	Nova Scotia
Zip/postal code:	B4V 2W6
Country:	Canada
Telephone:	+1 (902) 527 – 2000
Fax:	+1 (902) 543 – 3500
Website:
Remarks:	Mailing Address is P O Box 60, 305 High Way 10, Bridgewater, NS, B4V 2W6
Credit Observation Current Credit Observation: Thers is no Immediate Risk in doing Business with this company Analysis Very Well Established Positive Payment Trend Vendors Report Good Dealing With Subject Buying Volumes are Steady No of Employees Suggests Low Risk No Derogatory Items on Record
Company History / Operations
Capital Stock:	100% by Officers
Business Structure:	Corporation
How Listed: Business Started:	Private Company 2002
Management Control:	2002
Line of Business:	Manufactures Oil & Gas Processing Equipment Mainly, Oil & Gas Separators, Gas Dehydration, HC DewPoint Control, HC Liquid Recovery, Gas Sweetining, Water Treatment, Crude Oil Desalting & Dehydration
Territory: Sales Terms: Premises: Branches:	International Net 30 Rents Premises
Affiliations / Subsidiaries:	In Mexico and Pakistan

Company Registration & Status
Date Registered:	September 18 2002
Legal form:	Corporation
Registration no:	NS 0003070844
Jurisdiction	Nova Scotia
Registry status:	Active
Comments:

Company Management/Officers

No of Employees:	150
Name & Title:	William Famulak, Vice President
Name & Title:
Name & Title:
Name & Title:
Name & Title:
Name & Title:

Legal Findings

Suits:	None
Court Judgements:	None
NSF Reported:	None
Liens / Collection:	None
Security Filings:	No PPSA Filings exist for leased equipment and assets. These secured creditors would take precedence in the unlikely event of asset liquidation.

Trade Payment Experience

Date Reported October 2012 High Credit : 10000 Now Owing : Zero Terms : Net 30 Days Past Due 1-30 days – Zero Past Due 31-60 days – Zero Past Due 61-90 days – Zero Payments Made: As Agreed Date Reported September 2012 High Credit : 75000 Now Owing : Zero Terms : Net 30 Days Past Due 1-30 days – Zero Past Due 31-60 days – Zero Past Due 61-90 days – Zero Payments Made: As Agreed Date Reported September 2012 High Credit : 50000 Now Owing : Zero Terms : Net 30 Days Past Due 1-30 days – Zero Past Due 31-60 days – Zero Past Due 61-90 days – Zero Payments Made: As Agreed Date Reported August 2012 High Credit : 25000 Now Owing : Zero Terms : Net 30 Days Past Due 1-30 days – Zero Past Due 31-60 days – Zero Past Due 61-90 days – Zero Payments Made: As Agreed

Payment Behaviour:

Business Demonstrates Positive Payment Trend

Financial Information

FINANCIAL ACCOUNTS
Description
Required to file:	No
Source:
Comments	Private Companies are not required to Publish Financial Statements

Notes & Comments

INVESTIGATIVE NOTES
Sources:	Public Court Payment Exchange Data Bases Business Registries References & Vendors.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.53.67
UK Pound	1	Rs.86.04
Euro	1	Rs.70.06

INFORMATION DETAILS

Report Prepared by :

SDA

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.