MIRA INFORM REPORT

Report Date :

27.09.2012

IDENTIFICATION DETAILS

Name :	CENTURY FINANCE LIMITED
Formerly Known As :	CENTURY FINANCE AND TRUST LIMITED
Registered Office :	Level 27, 188 Quay Street, Auckland Central, Auckland, Zip/postal code 1010
Country :	New Zealand
Date of Incorporation :	09.03.2011
Com. Reg. No.:	3307108
Legal Form :	Private Limited Company
Line of Business :	Financial Services Providers
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

NB

RATING		STATUS	PROPOSED CREDIT LINE
----	NB	New Business	----

Status :	New Business
Payment Behaviour :	Unknown
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 (31.03.2012)	Current Rating (30.06.2012)
New Zealand	a1	a1

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

New Zealand - ECONOMIC OVERVIEW

Over the past 20 years the government has transformed New Zealand from an agrarian economy dependent on concessionary British market access to a more industrialized, free market economy that can compete globally. This dynamic growth has boosted real incomes - but left behind some at the bottom of the ladder - and broadened and deepened the technological capabilities of the industrial sector. Per capita income rose for ten consecutive years until 2007 in purchasing power parity terms, but fell in 2008-09. Debt-driven consumer spending drove robust growth in the first half of the decade, helping fuel a large balance of payments deficit that posed a challenge for economic managers. Inflationary pressures caused the central bank to raise its key rate steadily from January 2004 until it was among the highest in the OECD in 2007-08; international capital inflows attracted to the high rates further strengthened the currency and housing market, however, aggravating the current account deficit. The economy fell into recession before the start of the global financial crisis and contracted for five consecutive quarters in 2008-09. In line with global peers, the central bank cut interest rates aggressively and the government developed fiscal stimulus measures. The economy posted a 2% decline in 2009, but pulled out of recession late in the year, and achieved 1.7% growth in 2010 and 2% in 2011. Nevertheless, key trade sectors remain vulnerable to weak external demand. The government plans to raise productivity growth and develop infrastructure, while reining in government spending.

Source : CIA

Bottom of Form

Identification details Bottom of Form

Verified Address

Subject name : CENTURY FINANCE LIMITED

Other style / Business name : CENTURY BANCORP

Business address : Level 27, 188 Quay Street

Town : Auckland Central

Province : Auckland

Zip/postal code : 1010

Country : ` New Zealand

Tel : +64 93632918

Fax : +64 93632727

Email : info@century-finance.com

Website : www.century-finance.com

Registered address : Level 27, 188 Quay Street

Town : Auckland Central

Province : Auckland

Zip/postal code : 1010

Country : New Zealand

Comments : The Subject does not operate from a physical address in New Zealand and the

provided address above belongs to a virtual office. The director Mr. Sanjay Thakrar is based in the United Kingdom and can be contacted through mobile

number +44 7738718412 or at Trade Finance Solutions Limited at +44 2071

830696.

Summary details

Executive Summary

Date founded or registered : 09/03/2011

Legal form : Private Limited Company

Chief executive : Sanjay Thakrar

Issued & paid up capital : NZD 100

Line of business : Financial services providers.

Staff employed : Nil

Credit risk opinion

Company Analysis

Country risk : Country risk is minimal

Operation trend : Operational trend is in start-up phase

Management experience : Management is inadequately experienced

Financial performance : Financial performance is undetermined

Organization structure : Organizational structure is flawed

Detrimental : Some detrimental found

Payment history : No payment delays noted

Statutory details

Registry Data

Registration date : 09/03/2011

Legal form : Private Limited Company

Registration no 3307108

Registered authority : New Zealand Companies Office

Registry status : Live/Active

Previous name : The Subject was established under the name CENTURY FINANCE AND TRUST

LIMITED and changed to its current style on 30-04-2012.

Change of legal form : None reported.

Management / directors

Key Management

Name : Sanjay Thakrar

Designation : Managing Director

Board of directors / other appointments

Appointments

Name : Sanjay Thakrar

Designation : Director

Appointment date : 09/03/11

Address : 7 Copse Wood Way

Northwood, Middlesex, HA6 2TP

United Kingdom

Staff employed : Nil

Share capital

Composition

Authorized Capital : NZD 100

No of shares : 100 Shares

Share par value : NZD 1

Issued capital : NZD 100

Paid up capital : NZD 100

ownership / shareholders

How listed : Full List

Composition

Shareholder name : Sanjay Thakrar

Address : 7 Copse Wood Way

Northwood, Middlesex, HA6 2TP

United Kingdom

No. of shares : 100 Shares

% of shares : 100%

Related companies & corporate Affiliations

Structure

Name : TRADE FINANCE SOLUTIONS LIMITED

Affiliation type : Associate

Address : Suite 109, Viglen House

Alperton Lane, Wembley

Middlesex HA0 1HD

United Kingdom

Name : CENTURY TRADE AND VENTURE CORPORATION LIMITED

Affiliation type : Associate

Address : Suite 612, 6th Floor, St. James Court

St. Denis Street, Port Louis

Mauritius

Bank & mortgages

Bank Details

Name of bank : HSBC Bank New Zealand

Address : New Zealand

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 : None reported.

Legal Fillings

Bankruptcy fillings : None reported.

Court judgements : None reported.

Tax liens : None reported.

Others : Information below was obtained from website of Reserve Bank of New Zealand.

Link: http://www.rbnz.govt.nz/finstab/nbdt/4854052.html

Notice: Century Finance Limited trading as Century Bancorp

This entity trades using the website:

http://www.cenbancorp.net/index.php?page=about-us

This entity is not licensed or prudentially supervised by the Reserve Bank of New Zealand or any other New Zealand authority. It is not licensed to provide banking services. Use of the name ‘Century Bancorp’ is not permitted by the Reserve Bank of New Zealand.

financial data

Description

Comments : Private Companies in New Zealand are not required to file accounts unless classified as "Large",

which at the moment means that two out of the following three conditions are met:

- The company has a sales turnover of over NZD 20,000,000;

- The company has total assets of over NZD 10,000,000;

- The company employs 50 people or more.

Operation details

Main activities : The Subject offers financial services as a finance company and not as a bank.

The Subject is not a registered bank, nor is it supervised or regulated by the Reserve Bank of New Zealand for any purpose.

Purchases

Local : None reported.

International : None reported.

Sales

Local : None reported.

International : None reported.

Property & Assets

Premises : The Subject does not operate from a physical address in New Zealand and

the verified heading address belongs to a virtual office.

Branches : None reported.

Summarized country risk

Gross Domestic Products (GDP) & Economic Overview

Central bank Reserve Bank of New Zealand

Reserve of foreign exchange & gold US$ 20.562 billion

Gross domestic product - GDP US$ 180.548 billion

GPP (Purchasing power parity) 120.628 billion of International dollars

GDP per capita - current prices US$ $ 40,454

GDP - composition by sector agriculture: 4.7% industry: 24% services: 71.3%

Inflation 2009: 2.1%

2010: 2.3%

2011: 4.1.%

Unemployment rate 2009: 6.1%

2010: 6.5%

2011: 6.5%

Public debt

(General Government gross

debt as a % GDP) 2009: 26.1 %

2010: 33.3%

_{2011: 37 %}

Government bond ratings Standard & Poor's: AA+/Stable/A-1+

Moody's rating: Aaa

Moody's outlook: STA

Market value of publicly traded shares US$ 67.061 Billion

Largest companies in the country : Westpac Limited, Transpower, Fletcher Building Limited, National

Bank of New Zealand, Fonterra Co-Operative Group Ltd, Air New Zealand Limited, The Warehouse Group Limited, Progressive Enterprises Ltd

Trade & Competitiveness Overview

Total exports US$33.24billion

Exports commodities dairy products, meat, wood and wood products, fish, machinery

Total imports US$31.11 billion

Imports commodities machinery and equipment, vehicles and aircraft, petroleum,

electronics, textiles, plastics

Export - major partners Australia 22%, US 11.5%, Japan 9.2%, China 5.3%, UK 4.6%

Import - major partners Australia 20.7%, China 13.4%, US 9.7%, Japan 9.5%, Singapore 4.9%,

Germany 4.7%

FDI Inflows 2008: US$ 4,598 million

2009: US$ -1,293 million

2010: US$ 561 million

FDI Outflows 2008: US$ 462 million

2009: US$-308 million

2010: US$-589 million

Best countries for doing

business 3 out of 183 countries

Global competitiveness ranking 25 (ranking by country on a basis of 142, the first is the best)

Country and Population Overview

Total population : 4.37 million

Total area : 270,467 km2

Capital : Wellington

_{Currency : New Zealand Dollar (NZD)}

Internet users as % of total population : 83 %

Payment history

Purchase Term

Local : None

International : None

Sales Term

Local : None

International : None

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 : Official and local business sources

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.53.58
UK Pound	1	Rs.86.60
Euro	1	Rs.68.94

INFORMATION DETAILS

Report Prepared by :

MNL

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.