MIRA INFORM REPORT

Report Date :

15.12.2014

IDENTIFICATION DETAILS

Name :	OPTEST EQUIPMENT INC.
Registered Office :	900 Tupper Street, Hawkesbury, Ontario K6A 3S3 - Canada
Country :	Canada
Date of Incorporation :	29.09.1992
Legal Form :	Federal Corporation – Profit
Line of Business :	Manufactures and markets state-of-the-art instruments and on-line sensors used for measuring the quality of pulp, paper and tissue.
No of Employees :	15

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 – September 30, 2014

Country Name	Previous Rating (30.06.2014)	Current Rating (30.09.2014)
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 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: OPTEST EQUIPMENT INC.

Address: 900 Tupper Street, Hawkesbury, Ontario K6A 3S3 - Canada

Telephone: +1 613-632-5169

Fax: +1 613-632-3744

Website: www.optest.com

Corporate ID#: 2849101

State: Federal

Judicial form: Federal Corporation – Profit

Date incorporated: 09-29-1992

Stock: -

Value: -

Name of manager: ROLAND J. TREPANIER

ACTIVITIES & OPERATIONS

IST

Business:

Optest Equipment Inc. manufactures and markets state-of-the-art instruments and on-line sensors used for measuring the quality of pulp, paper and tissue. Our customers range from pulp, paper and tissue mills to the R & D Centres in the pulp, paper and allied industries.

The products include systems measuring microscopic ink, visible dirt, sheet formation, print quality, pulp fibre quality, and pulp cleanliness.

No name of foreign suppliers available.

Staff: 15

Operations & branches:

At the headquarters, we find a factory, warehouse and office, owned.

SHAREHOLDERS & MANAGERS

Shareholders:

This is a private Company.

Management:

Roland J. TREPANIER is the President, Director and CEO.

Graduate from McGill University in 1990 with a PhD in Nuclear Spectroscopy and Theoretical Chemistry.

Former President at L&W CANADA from September 1990 to April 1992.

Louis TREPANIER and James E. LUCE are Directors.

As far as we know, they are not involved in other local corporations.

Subsidiaries and partnership:

None

FINANCIALS

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

On a direct call, a financial assistant controlled the present report.

Sales declared for fiscal year ending September 20143 is in the range of

CAD 2,000,000=

The business is profitable.

Banks: Royal Bank of Canada

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: November 2014

High credit: CAD 6,000

Now owing: 0

Past due: 0

Last purchase: October 2014

Line of business: Office supply

Paying status: On terms

Date reported: November 2014

High credit: CAD 20,000

Now owing: 0

Past due: 0

Last purchase: October 2014

Line of business: Payroll

Paying status: As agreed

Date reported: November 2014

High credit: CAD 300

Now owing: 0

Past due: 0

Last purchase: October 2014

Line of business: Telecommunications

Paying status: On terms

Domestic credit history:

Domestic credit history appears as follow:

Monthly Payment Trends - Recent Activity

Date	Balance	Current	Up to 30 DBT	31-60 DBT	61-90 DBT	>90 DBT
06/14	$3,600	100%	0%	0%	0%	0%
07/14	$3,500	100%	0%	0%	0%	0%
08/14	$3,600	100%	0%	0%	0%	0%
09/14	$3,600	100%	0%	0%	0%	0%
10/14	$3,500	100%	0%	0%	0%	0%
11/14	$3,300	100%	0%	0%	0%	0%

National Credit Bureaus gave a satisfying credit rating.

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

Other comments:

The Company maintains a regular business.

The Company is in good standing.

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

Last report was filed on 01-28-2014.

The risk is low.

Our opinion:

A business connection may be conducted.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.44
UK Pound	1	Rs.98.15
Euro	1	Rs.77.38

INFORMATION DETAILS

Analysis Done by :	SUM
Report Prepared by :	TPT

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.