MIRA INFORM REPORT

Report Date :

21.10.2013

IDENTIFICATION DETAILS

Name :	THE TRUSTEE FOR THE DARTNALL FAMILY TRUST
Registered Office :	5 Babel Road, Welshpool, Western Australia 6106
Country :	Australia
Date of Incorporation :	01.09.2004
Com. Reg. No.:	44772421817
Legal Form :	Trust
Line of Business :	Distributor of vehicle mobility products.
No. of Employees :	10 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

Status :	Moderate
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 – March, 31^st, 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
Australia	A1	A1

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

AUSTRALIA - ECONOMIC OVERVIEW

The Australian economy has experienced continuous growth and features low unemployment, contained inflation, very low public debt, and a strong and stable financial system. By 2012, Australia had experienced more than 20 years of continued economic growth, averaging 3.5% a year. Demand for resources and energy from Asia and especially China has grown rapidly, creating a channel for resources investments and growth in commodity exports. The high Australian dollar has hurt the manufacturing sector, while the services sector is the largest part of the Australian economy, accounting for about 70% of GDP and 75% of jobs. Australia was comparatively unaffected by the global financial crisis as the banking system has remained strong and inflation is under control. Australia has benefited from a dramatic surge in its terms of trade in recent years, stemming from rising global commodity prices. Australia is a significant exporter of natural resources, energy, and food. Australia's abundant and diverse natural resources attract high levels of foreign investment and include extensive reserves of coal, iron, copper, gold, natural gas, uranium, and renewable energy sources. A series of major investments, such as the US$40 billion Gorgon Liquid Natural Gas project, will significantly expand the resources sector. Australia is an open market with minimal restrictions on imports of goods and services. The process of opening up has increased productivity, stimulated growth, and made the economy more flexible and dynamic. Australia plays an active role in the World Trade Organization, APEC, the G20, and other trade forums. Australia has bilateral free trade agreements (FTAs) with Chile, Malaysia, New Zealand, Singapore, Thailand, and the US, has a regional FTA with ASEAN and New Zealand, is negotiating agreements with China, India, Indonesia, Japan, and the Republic of Korea, as well as with its Pacific neighbors and the Gulf Cooperation Council countries, and is also working on the Trans-Pacific Partnership Agreement with Brunei Darussalam, Canada, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore, the US, and Vietnam.

Source : CIA

IDENTIFICATION DETAILS

Verified Address

Subject name : THE TRUSTEE FOR THE DARTNALL FAMILY TRUST

Other style / Business name : DELTA INDUSTRIES / GLOBE PARTS & ACCESSORIES

Business address : 5 Babel Road

Town : Welshpool

Province : Western Australia

Zip/postal code : 6106

Country : Australia

Tel : +61 8 93566222

Fax : +61 8 93566999

Website : www.deltaind.com.au

Registered address : 5 Babel Road

Town : Welshpool

Province : Western Australia

Zip/postal code : 6106

Country : Australia

SUMMARY DETAILS

Executive Summary

Date founded or registered : 01/09/2004

Legal form : Trust

Chief executive : H.J Dartnall

Issued & paid up capital : Not required

Line of business : Distributor of vehicle mobility products.

Staff employed : 10 employees

CREDIT RISK OPINION

Company Analysis

Country risk : Country risk is minimal

Operation trend : Operational trend is steady

Management experience : Management is modestly experienced

Financial performance : Financial performance is undetermined

Organization structure : Organzational structure is acceptable

Detrimental : No detrimental found

Payment history : No payment delays noted

STATUTORY DETAILS

Registry Data

Registration date : 01/09/2004

Legal form : Trust

Registration no Australian Business Number: 44772421817

Registered authority : Australian Securities and Investments Commission

Registry status : Live/Active

Previous name : None reported.

Change of legal form : None reported.

MANAGEMENT / DIRECTORS

Key Management

Name : H.J Dartnall

Designation : Managing Director

BOARD OF DIRECTORS/ OTHER APPOINTMENTS

Appointments

Name : H.J Dartnall

Designation : Director

Address : Australia

Name : I.B Dartnall

Designation : Director

Address : Australia

Staff employed : 10 employees

SHARE CAPITAL

Composition

Authorized Capital : Not required

Issued capital : Not required

Paid up capital : Not required

OWNERSHIP / SHAREHOLDERS

How listed : Full List

Composition

Shareholder name : H.J Dartnall

Address : Australia

% of shares : 50%

Shareholder name : I.B Dartnall

Address : Australia

% of shares : 50%

RELATED COMPANIES & CORPORATE AFFILIATIONS

Structure

Name : H.J DARTNALL & I.B DARTNALL

Affiliation type : Associate

Address : 86 Ewing Street

Welshpool, WA 6106

Australia

Comments : Trading as WESBAR VANQUIPATLAS PARTS AND PANELS.

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 : None reported.

Legal Fillings

Bankruptcy fillings : None reported.

Court judgements : None reported.

Tax liens : None reported.

Others : None reported.

FINANCIAL DATA

Description

Comments : The Subject is classified as a Trust company by the Australian Securities & Investments Commission hence is not required to disclose their financial statement.

OPERATION DETAILS

Main activities : The Subject is engaged as distributor of vehicle mobility products such as mobility lifts, access ramps, low floor conversions, vehicle mobility, van seating.

Purchases

International : China, Taiwan

Sales

Local : Yes

International : No exports.

Property & Assets

Premises : The Subject operates from premises at the verified heading address consisting of a warehouse and administrative office.

Branches : In addition, the Subject operates from branch office located at:

86 Ewing Street

Welshpool, WA 6106

Australia

Tel: +61 8 94519390

SUMMARIZED COUNTRY RISK

Gross Domestic Products (GDP) & Economic Overview

Central bank : Reserve Bank of Australia

Reserve of foreign exchange & gold : US$ 46.714 billion

Gross domestic product - GDP : US$ 1.586 trillion

GPP (Purchasing power parity) : 954.296 billion of International dollars

GDP per capita - current prices : US$ 68,916

GDP - composition by sector : agriculture: 4%

industry: 25.6%

services: 70.4%

Inflation : 2010: 2.8%

2011: 3.4%

2012: 2.7%

Unemployment rate : 2010: 5.2%

2011: 5.1%

2012: 5.2%

Public debt

(General Government gross debt as

a % GDP): 2010:20.4%

2011: 22.9%

2012: 24%

Government bond ratings : Standard & Poor's: AAA

Moody's rating: Aaa

Moody's outlook: STA

Market value of publicly traded

shares: US$1.198 trillion

Largest companies in the country : Qantas Airways (Airline),Coca-Cola Amatil (Beverages), CSL (Biotechs), Brambles (Business & Personal Services),Crown Ltd (Casinos & Gaming), Amcor (Containers & Packaging),Suncorp-Metway (Diversified Insurance), BHP Billiton (Diversified Metals & Mining),Newcrest Mining (Diversified Metals & Mining), Orica (Diversified Metals & Mining), Iluka Resources(Diversified Metals & Mining), Origin Energy (Electric Utilities), AGL Energy (Electric Utilities), Wesfarmers (Food Retail), Woolworths

(Food Retail), Metcash (Food Retail), Macquarie Group (Investment services), AMP (Investment services), Challenger Ltd (Investment services), Fortescue Metals Group (Iron & Steel), Bluescope Steel (Iron & Steel), Commonwealth Bank (Major Banks), Westpac Banking Group (Major Banks), National Australia Bank (Major Banks), ANZ (Major Banks), Woodside Petroleum (Oil & Gas Operations), Santos (Oil & Gas

Operations), Caltex Australia (Oil & Gas Operations), WorleyParsons (Oil Services & Equipment), Toll Holdings (Other Transportation), Transurban Group (Other Transportation), QBE Insurance Group (Property & Casualty Insurance), Insurance Australia Group (Property & Casualty Insurance), QR National (Railroads), Westfield Group (Real Estate), Stockland Australia (Real Estate), Westfield Retail Trust (Real Estate), Lend Lease (Real Estate), CFS Retail Property Trust (Real Estate), Goodman Group (Real Estate), Bendigo & Adelaide Bank (Regional Banks), Bank of Queensland (Regional Banks), Incitec Pivot (Specialized Chemicals), Telstra (Telecommunications Services)

Trade & Competitiveness Overview

Total exports : US$263.9 billion

Exports commodities : Coal, iron ore, gold, meat, wool, alumina, wheat, machinery and transport equipment

Total imports : US$239.7 billion

Imports commodities : Machinery and transport equipment, computers and office machines, telecommunication equipment and parts; crude oil and petroleum products

Export - major partners : China 27.4%, Japan 19.2%, South Korea 8.9%, India 5.8%

Import - major partners : China 18.5%, US 11.4%, Japan 7.9%, Singapore 6.3%, Germany 4.7%

FDI Inflows : 2009: US$26,554 million

2010: US$35,556 million

2011: US$41,317 million

FDI Outflows : 2009: US$16,693 million

2010: US$12,791 million

2011: US$19,999 million

Best countries for doing business : 10 out of 185 countries

Global competitiveness ranking : 20 (ranking by country on a basis of 144, the first is the best)

Country and Population Overview

Total population : 22.68 million

Total area : 7,692,024 km2

Capital : Canberra

Currency : Australian dollars (AUD)

Internet users as % of total population : 79%

PAYMENT HISTORY

Purchase Term

International : Prepayment, Telegraphic transfer, Credit 30-60 days

Sales Term

Local : Prepayment, Bank transfer, 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.61.28
UK Pound	1	Rs.99.03
Euro	1	Rs.83.80

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%)

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.