MIRA INFORM REPORT

Report Date :

22.12.2014

IDENTIFICATION DETAILS

Name :	MEGAN PARK PTY LTD
Registered Office :	Unit 10, 110 Moor Street Fitzroy Victoria 3065
Country :	Australia
Date of Incorporation :	01.09.2004
Com. Reg. No.:	110780866
Legal Form :	Australian Proprietary Company
Line of Business :	Subject is engaged in design and retail of fashion clothing and accessories.
No. of Employees :	05

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)
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

Company name and address

Verified
Subject name:	MEGAN PARK PTY LTD
Address:	Unit 10, 110 Moor Street
Town:	Fitzroy
State/province:	Victoria
Zip/postal code:	3065
Country:	Australia
Telephone:	+61 (3) 94196472
Fax:	+61 (3) 94196495
E-mail:	admin@meganpark.com.au sales@meganpark.com.au
Website:	www.meganpark.com.au

EXECUTIVE SUMMARY

Date registered:	01-09-2004
Legal form:	Australian Proprietary Company
Share capital	AUD 1
Main activities:	Fashion boutique
Employees:	5 (estimated)

REGISTRY DATA

Key Facts
Date registered:	01-09-2004
Legal form:	Australian Proprietary Company
Registration no:	ACN: 110780866
Registry auth.	Australian Securities and Investments Commission
Tax number:	ABN: 49110780866
Registry status:	Live/Active

LEGAL FILINGS

Bankruptcy filings:	None
Court judgements:	None
Tax liens:	None
Other:	None

MANAGEMENT & STAFF

Key Managers
Name:	Megan Park
Job title:	Director and Company Secretary
Name:	Anthony Mark Cox
Job title:	Director and Company Secretary
Staff
No of employees	5 (estimated)

BOARD OF DIRECTORS / OTHER APPOINTMENTS

Appointments
Name:	Megan Park
Board function:	Director and Company Secretary
Date appointed:	01-09-2004
Address:	184 George Street Fitzroy, VIC 3065 Australia
Biography:	DOB: 04/01/1968 Birth Place: Ararat, Victoria
Name:	Anthony Mark Cox
Board function:	Director and Company Secretary
Date appointed:	14-02-2012
Address:	184 George Street Fitzroy, VIC 3065 Australia
Biography:	DOB: 06/09/1972 Birth Place: Oxford, United Kingdom

SHARE CAPITAL

Composition
Authorised:	AUD 1
Number/type:	1 ordinary share
Share value:	AUD 1
Issued:	AUD 1
Paid-up:	AUD 1

Shareholders/Owners

How Listed	Full List
Composition
Name:	Megan Park
No. of shares:	1 ordinary share
% of shares:	100%
Address:	184 George Street Fitzroy, VIC 3065 Australia

CORPORATE AFFILIATIONS

Structure
Name:	MEGAN PARK INVESTMENTS PTY LTD
Affiliation type:	Associate
Address:	Unit 10 110 Moor Street Fitzroy, VIC 3065 Australia
Comment:	ACN: 110 780 857 ABN: 47 110 780 857 Registration date: 1/09/2004

BANKING & FINANCING

Bankers
Bank name:	WESTPAC BANKING CORPORATION
Address:	Australia
Comments	It is generally not the policy of local banks to provide credit status information to non-bona fide applications, and interested parties would be advised to consult first with the Subject if banker's references are required.

FINANCIAL ACCOUNTS

Description
Required to file:	No
Source:	N/A
Comments	Private Companies in Australia 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 AUD 25,000,000; - The company has total assets of over AUD 12,500,000; - The company employs 50 people or more. The Subject does not meet the criteria of being a large proprietary company.

OPERATIONS & HISTORY

Activities
Full description:	The Subject is engaged in design and retail of fashion clothing and accessories.
Products/services:	Christmas Gifting LINDE bags *exclusive* Dresses Tops Pants / Shorts Skirts Jewellery Wraps / Scarves Bags Cushions
Key Events	Megan Park Calls Fitzroy Home By Jessica Wilkinson 11th June 2014 The Melbourne fashion designer has opened a second store on Gertrude Street before setting her sights on Sydney and Brooklyn. Megan Park’s collections are timelessly elegant. And judging by the label’s success, it seems a number of people agree. With her flagship store in Armadale going from strength to strength, and a robust international following, Park has now opened a second store on Fitzroy’s Gertrude Street. The new store location is an aesthetic jump from the existing space, but one that’s been carefully thought through. “Our customer is so diverse. I see that in Fitzroy we can push this edge a little and dress the Megan Park look down, so to speak,” says Park. Each patterned piece in Park’s collection starts as a painting by an in-house textiles designer, and is then embroidered by hand. Before starting her label, Park worked as a freelance textile designer between London and Kolkata creating embroideries for labels such as Dries Van Noten and Givenchy. With her own label up and running, Park moved from London to Melbourne eight years ago, though not before gracing the pages of British Vogue and subsequently stocking her debut collection in a wish-list of stores such as Barneys New York, Harvey Nichols and Liberty in London, Joyce in Hong Kong and Isetan in Japan. “Retail is what we feel confident about. Of course I am a bit nervous but it just seems to be the next logical step for us following on from the success of our first store in Armadale.” In the year ahead, Park will be as busy as ever. Her third store is scheduled to open in Sydney’s The Strand in September, after which Park will set her sights to Brooklyn, New York for her fourth store to open by the start of 2015.

PROPERTY & ASSETS

Premises

The Subject's head office is located at the heading address.

PAYMENTS

Debt Collections / Judgements	No negative information was found.
Payment Experience
Payment behaviour:	As trade references were not supplied, the Subject's payment track record history CANNOT BE ACCURATELY DETERMINED, but payments are believed to be PROMPT.

INVESTIGATIVE NOTES

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.63.07
UK Pound	1	Rs.98.73
Euro	1	Rs.77.46

INFORMATION DETAILS

Analysis Done by :	RAS
Report Prepared by :	NIS

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.