MIRA INFORM REPORT

Report Date :

26.04.2014

IDENTIFICATION DETAILS

Name :	OMEGA LIFT DISTRIBUTORS INC.

Registered Office :	87 Simpson Road, Bolton, Ontario L7E 3R6

Country :	Canada

Date of Incorporation :	28.05.1998

Legal Form :	Corporation – Profit

Line of Business :	Distributor of mechanical handling equipment and materials, trucks, tractors, and related products.

No of Employees :	15

RATING & COMMENTS

MIRA’s Rating :

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 – September 30, 2013

Country Name

Previous Rating

(30.09.2013)

Current Rating

(01.12.2013)

Canada

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

CANADA - ECONOMIC OVERVIEW

As a high-tech industrial society in the trillion-dollar class, Canada resembles the US in its market-oriented economic system, pattern of production, and high 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 merchandise exports each year. Canada is the US's largest foreign supplier of energy, including oil, gas, uranium, and electric power. Given its abundant natural resources, highly skilled labor force, and modern capital plant, Canada enjoyed solid economic growth from 1993 through 2007. Buffeted by the global economic crisis, 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 2010-13 and plans to balance the budget by 2015. In addition, the country's petroleum sector is rapidly expanding, because Alberta's oil sands significantly boosted Canada's proven oil reserves. Canada now ranks third in the world in proved oil reserves behind Saudi Arabia and Venezuela

Source : CIA

COMPANY NAME & ADDRESS

Company name: OMEGA LIFT DISTRIBUTORS INC.

Address: 87 Simpson Road, Bolton, Ontario L7E 3R6 - Canada

Telephone: +1 905-857-6456

Fax: +1 905-951-0287

Website: www.omegalift.net

Corporate ID#

ON-001297534

State

Ontario

Judicial form

Corporation – Profit

Date incorporated

05-28-1998

Stock

Value

Name of manager

Antonio PANNIA

ACTIVITIES & OPERATIONS

IST

Business:

The Company is distributor of mechanical handling equipment and materials, trucks, tractors, and related products.

Suppliers include:

SHENYANG LEADWAY MACHINERY EQUIPMEN

SUITE 1716 XINHUA BUILDING NO 262 S SHENYANG CHINA

Staff: 15

Operations & branches:

At the headquarters, we find a large building used by the group.

SHAREHOLDERS & MANAGERS

Shareholders:

This is a private Company.

Management:

Antonio PANNIA is the President and CEO.

As far as we know, he is the President of:

OMEGA LIFT MANUFACTURING INC.

Incorporated in Ontario on 09-28-2001

ID# 001494406

OMEGA LIFT INTERNATIONAL INC.

Incorporated in Ontario on 09-10-2009

ID# 002217333

FINANCIALS

In Canada, privately held corporations are not required to publish any financials.

On a direct call, a financial assistant controlled the present report but deferred any financials.

We sent a fax but no answer received.

However, sales estimate for year 2013 is in the range of CAD 5,000,000=

The business is said to be profitable.

Banks: Scotia Bank

…

LEGAL FILINGS

Legal filings & complaints:

As of today date, there is no legal filing pending with the Courts.

Secured debts summary: none

COMPANY CREDIT HISTORY

Trade references:

Date reported: March 2014

High credit: CAD 6,000

Now owing: 0

Past due: 0

Last purchase: February 2014

Line of business: Office supply

Paying status: On terms

Date reported: March 2014

High credit: CAD 15,000

Now owing: 0

Past due: 0

Last purchase: February 2014

Line of business: Payroll

Paying status: As agreed

Domestic credit history:

National Credit Bureaus gave a satisfying credit rating.

According to our credit analysts, during the last 6 months, domestic payments were made on due date.

International credit history:

Payments of imports are currently made on terms.

Other comments:

The Company is developing a regular business.

The Company is in good standing.

This means that all local and federal taxes were paid on due date.

The risk is low.

Our opinion:

A business connection may be conducted.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs. 61.11
UK Pound	1	Rs. 102.70
Euro	1	Rs. 84.52

INFORMATION DETAILS

Analysis Done by :	KRN

Report Prepared by :	DPT

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.