MIRA INFORM REPORT

Report Date :

29.10.2013

IDENTIFICATION DETAILS

Name :	A.C.N. 131 891 668 PTY LTD
Formerly Known As :	AUSTRALIAN MERINO EXPORTS
Registered Office :	C/o West, Carr & Harvey, 79 Gheringhap Street, Geelong, Victoria 3220
Country :	Australia
Date of Incorporation :	26.06.2008
Com. Reg. No.:	131891668
Legal Form :	Australian Proprietary Company
Line of Business :	The Subject was previously Engaged in wool exporting.
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 :	Dormant
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, 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 : A.C.N. 131 891 668 PTY LTD

Business address : C/o TECHWOOL TRADING PTY. LTD.

290 Boundary Road

Town : Laverton North

Province : Victoria

Zip/postal code : 3026

Country : Australia

Tel : +61 3 93688000

Fax : +61 3 93688020

Registered address : C/o WEST, CARR & HARVEY

79 Gheringhap Street

Town : Geelong

Province : Victoria

Zip/postal code : 3220

Country : Australia

Comments : The Subject is now a dormant company and will soon be struck off. The Subject's previous business name AUSTRALIAN MERINO EXPORTS has been taken over by AUSTRALIAN MERINO EXPORTING PTY LTD under the Australian Company Number: 151148435 and Australian Business Number: 57151148435. AUSTRALIAN MERINO EXPORTING PTY LTD current directors Mr. Christopher John Kelly & Mr. James Roderick Thomson were previouslydirectors of the Subject. The verified address above is the operating address of the Subject's sister company TECHWOOL TRADING PTY. LTD.

SUMMARY DETAILS

Executive Summary

Date founded or registered : 26/06/2008

Legal form : Australian Proprietary Company

Chief executive : Rodney Ernest Franklyn

Issued & paid up capital : AUD 100

Line of business : Dormant company and will soon be struck off. The Subject was previously

engaged in wool exporting.

Staff employed : Nil (Subject)

Company Analysis

Country risk : Country risk is minimal

Operation trend : Operational trend is stalled (dormant)

Management experience : Management is inadequately experienced

Financial performance : Financial performance is undetermined

Organization structure : Organizational structure is flawed

Detrimental : Serious detrimental records found

Payment history : Payment punctuality is undetermined

Credit amount suggestion : Fully secured terms.

Credit amount asked : Not described.

STATUTORY DETAILS

Registry Data

Registration date : 26/06/2008

Legal form : Australian Proprietary Company

Registration no Australian Company Number: 131891668

Registered authority : Australian Securities and Investments Commission

Fiscal/ Tax no : Australian Business Number: 80131891668

Registry status : Dormant

Previous name : AUSTRALIAN MERINO EXPORTS PTY LTD (until 05-04-2012)

Change of legal form : None reported.

MANAGEMENT / DIRECTORS

Key Management

Name : Rodney Ernest Franklyn

Designation : Managing Director

BOARD OF DIRECTORS/ OTHER APPOINTMENTS

Appointments

Name : Rodney Ernest Franklyn

Designation : Director and Company Secretary

Appointment date : 26/06/08

Address : 65 The Esplanade

Drumcondra, VIC 3215

Australia

Biography : Born on 10-11-1944 in Brunswick, Victoria, Australia.

Staff employed : Nil (Subject)

SHARE CAPITAL

Composition

Authorized Capital : AUD 100

No of shares : 100 Ordinary Shares

Share par value : AUD 1

Issued capital : AUD 100

Paid up capital : AUD 100

OWNERSHIP / SHAREHOLDERS

How listed : Full List

Composition

Shareholder name : AMEM HOLDINGS PTY LTD

Address : 290 Boundary Road

Laverton North, VIC 3026

Australia

No. of shares : 100 Ordinary Shares

% of shares : 100%

RELATED COMPANIES & CORPORATE AFFILIATIONS

Structure

Name : AMEM HOLDINGS PTY LTD

Affiliation type : Parent Company

Address : 290 Boundary Road

Laverton North, VIC 3026

Australia

Name : TECHWOOL TRADING PTY. LTD.

Affiliation type : Sister Company

Address : 290 Boundary Road

Laverton North, VIC 3026

Australia

BANK & MORTGAGES

Bank Details

Name of bank : Westpac Banking Corporation

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 a dormant company hence financial information is not available

with Australian Securities & Investments Commission. . The Subject's previous

business name AUSTRALIAN MERINO EXPORTS has been taken over by

AUSTRALIAN MERINO EXPORTING PTY LTD under the Australian Company

Number: 151148435 and Australian Business Number: 57151148435.

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 now a dormant company and will soon be struck off. The Subject was previously engaged in wool exporting. The Subject's previous business name AUSTRALIAN MERINO EXPORTS has been taken over by AUSTRALIAN MERINO EXPORTING PTY LTD under the Australian

Company Number: 151148435 and Australian Business Number: 57151148435.

Purchases

Local : None reported.

International : None reported.

Sales

Local : None reported.

International : None reported.

Property & Assets

Premises : The Subject operates from care off premises of the Subject's sister

company at the verified address consisting of a warehouse and an

administrative office.

Branches : None reported.

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

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.

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.61.50
UK Pound	1	Rs.99.49
Euro	1	Rs.84.88

INFORMATION DETAILS

Report Prepared by :

PDT

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.