MIRA INFORM REPORT

Report Date :

30.07.2014

IDENTIFICATION DETAILS

Name :	COMBILIFT U.S. HOLDINGS LIMITED
Registered Office :	Gallinagh Monaghan Co Monaghan 486915
Country :	Ireland
Date of Incorporation :	04.02.2005
Com. Reg. No.:	IE397327
Legal Form :	Private Company
Line of Business :	Not Available [We tried to confirm / obtain the detailed activity but the same is not available from any sources]
No. of Employees	Not Available

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 – June 1, 2014

Country Name	Previous Rating (31.03.2014)	Current Rating (01.06.2014)
Ireland	B1	A2

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

IRELAND ECONOMIC OVERVIEW

Ireland is a small, modern, trade-dependent economy. Ireland was among the initial group of 12 EU nations that began circulating the euro on 1 January 2002. GDP growth averaged 6% in 1995-2007, but economic activity has dropped sharply since the onset of the world financial crisis. Ireland entered into a recession in 2008 for the first time in more than a decade, with the subsequent collapse of its domestic property market and construction industry. Property prices rose more rapidly in Ireland in the decade up to 2007 than in any other developed economy. Since their 2007 peak, average house prices have fallen 47%. In the wake of the collapse of the construction sector and the downturn in consumer spending and business investment, the export sector, dominated by foreign multinationals, has become an even more important component of Ireland's economy. Agriculture, once the most important sector, is now dwarfed by industry and services. In 2008 the former COWEN government moved to guarantee all bank deposits, recapitalize the banking system, and establish partly-public venture capital funds in response to the country's economic downturn. In 2009, in continued efforts to stabilize the banking sector, the Irish Government established the National Asset Management Agency (NAMA) to acquire problem commercial property and development loans from Irish banks. Faced with sharply reduced revenues and a burgeoning budget deficit, the Irish Government introduced the first in a series of draconian budgets in 2009. In addition to across-the-board cuts in spending, the 2009 budget included wage reductions for all public servants. These measures were not sufficient to stabilize Ireland’s public finances. In 2010, the budget deficit reached 32.4% of GDP - the world's largest deficit, as a percentage of GDP - because of additional government support for the country’s deeply troubled banking sector. In late 2010, the former COWEN government agreed to a $92 billion loan package from the EU and IMF to help Dublin recapitalize Ireland’s fragile banking sector and avoid defaulting on its sovereign debt. Since entering office in March 2011, the new KENNY government has intensified austerity measures to try to meet the deficit targets under Ireland's EU-IMF program. Ireland has grown slowly since 2011, but managed to reduce the budget deficit to 7.2% of GDP in 2013. In late 2013, Ireland formally exited its EU-IMF bailout program, benefiting from its strict adherence to deficit-reduction targets and success in refinancing a large amount of banking-related debt.

Source : CIA

Company name and address

Company Name : COMBILIFT U.S. HOLDINGS LIMITED

Company Number IE397327

Company summary

DIRECTORS/MANAGEMENT

Current Directors

Name	ROBERT MOFFETT	Date of Birth	01/04/1956
Officers Title		Nationality
Present Appointments	29	Function	Director
Appointment Date	05/02/2005
Address	LATHLURCAN, CO. MONAGHAN
Other Actions	View Director Report		View AML Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	MARTIN MCVICAR	Date of Birth	14/02/1972
Officers Title		Nationality
Present Appointments	12	Function	Director
Appointment Date	05/02/2005
Address	LATHLURGAN, CO. MONAGHAN

Previous Director/Company Secretaries

Name	Current Directorships	Previous Directorships
NIAMH CORR	29	858
NIAMH CORR	29	858
NEIL CORR	4	132

NEGATIVE INFORMATION

CJ

Total Number of Exact CJs -	0	Total Value of Exact CJs -	€0
Total Number of Possible CJs -	0	Total Value of Possible CJs -	€0
Total Number of Satisfied CJs -	0	Total Value of Satisfied CJs -	€0

Possible CJ Details

There are no possible CJ details

Unregistered - Exact CJ Details

No CJs found

Unregistered - Possible CJ Details

No CJs found

Registered - Exact CJ Details

No CJs found

Registered - Possible CJ Details

No CJs found

SHARE & SHARE CAPITAL INFORMATION

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
COMBILIFT LTD	EUR	1	ORDINARY	1	100

GROUP STRUCTURE & AFFILIATED COMPANIES

Statistics

Group	-
Linkages	0 companies
Countries	In 0 countries

Summary

Holding Company	-
Ownership Status
Ultimate Holding Company	-

Group structure

No group structure

FINANCIAL INFORMATION

Balance Sheet

Date Of Accounts	31/08/12	(%)	31/08/11	(%)	31/08/10	(%)	31/08/09	(%)	31/08/08
Tangible Assets	0	-	0	-	0	-	0	-	0
Intangible Assets	0	-	0	-	0	-	0	-	0
Total Fixed Assets	0	-	0	-	0	-	0	-	0
Stock	0	-	0	-	0	-	0	-	0
Trade Debtors	€1	-	€1	-	€1	-	€1	-	€1
Cash	0	-	0	-	0	-	0	-	0
Other Debtors	0	-	0	-	0	-	0	-	0
Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
Total Current Assets	€1	-	€1	-	€1	-	€1	-	€1
Trade Creditors	0	-	0	-	0	-	0	-	0
Bank Loans & Overdrafts	0	-	0	-	0	-	0	-	0
Other Short Term Finance	0	-	0	-	0	-	0	-	0
Miscellaneous Current Liabilities	0	-	0	-	0	-	0	-	0
Total Current Liabilities	0	-	0	-	0	-	0	-	0
Bank Loans & Overdrafts and LTL	0	-	0	-	0	-	0	-	0
Other Long Term Finance	0	-	0	-	0	-	0	-	0
Total Long Term Liabilities	0	-	0	-	0	-	0	-	0

Capital & Reserves

Date Of Accounts	31/08/12	(%)	31/08/11	(%)	31/08/10	(%)	31/08/09	(%)	31/08/08
Called Up Share Capital	€1	-	€1	-	€1	-	€1	-	€1
P & L Account Reserve	-	-	-	-	-	-	-	-	-
Revaluation Reserve	-	-	-	-	-	-	-	-	-
Sundry Reserves	-	-	-	-	-	-	-	-	-
Shareholder Funds	€1	-	€1	-	€1	-	€1	-	€1

Other Financial Items

Date Of Accounts	31/08/12	(%)	31/08/11	(%)	31/08/10	(%)	31/08/09	(%)	31/08/08
Net Worth	€1	-	€1	-	€1	-	€1	-	€1
Working Capital	€1	-	€1	-	€1	-	€1	-	€1
Total Assets	€1	-	€1	-	€1	-	€1	-	€1
Total Liabilities	-	-	-	-	-	-	-	-	-
Net Assets	€1	-	€1	-	€1	-	€1	-	€1

Miscellaneous

Date Of Accounts	31/08/12	(%)	31/08/11	(%)	31/08/10	(%)	31/08/09	(%)	31/08/08
Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
Capital Employed	€1	-	€1	-	€1	-	€1	-	€1
Number of Employees	-	-	-	-	-	-	-	-	-
Auditors	MCARDLE CASSIDY MCQUAID LTD
Auditor Comments	The audit report contains no adverse comments
Bankers
Bank Branch Code

Ratios

Date Of Accounts	31/08/12	31/08/11	31/08/10	31/08/09	31/08/08
Pre-tax profit margin %	-	-	-	-	-
Current ratio	-	-	-	-	-
Sales/Net Working Capital	-	-	-	-	-
Gearing %	0	0	0	0	0
Equity in %	100	100	100	100	100
Creditor Days	-	-	-	-	-
Debtor Days	-	-	-	-	-
Liquidity/Acid Test	-	-	-	-	-
Return On Capital Employed %	-	-	-	-	-
Return On Total Assets Employed %	-	-	-	-	-
Current Debt Ratio	-	-	-	-	-
Total Debt Ratio	-	-	-	-	-
Stock Turnover Ratio %	-	-	-	-	-
Return on Net Assets Employed %	-	-	-	-	-

FOREIGN EXCHANGE RATES

N/a

ADDITIONAL INFORMATION

Enquiries Trend

There have been 41 enquiries in the last 12 months.

There are an average of 3 reports taken each month.

Current Company Secretary

Name	ROBERT MOFFETT	Date of Birth	01/04/1956
Officers Title		Nationality
Present Appointments	29	Function	Company Secretary
Appointment Date	05/02/2005
Address	LATHLURCAN, CO. MONAGHAN
Other Actions
Disqualified		Disqualified End Date
Disqualification Exception	No

Status History

No Status History found

Event History

Date	Description
06/08/2013	New Accounts Filed
03/08/2013	Annual Returns
04/08/2012	Annual Returns
04/08/2012	New Accounts Filed
07/07/2011	New Accounts Filed
04/07/2011	Annual Returns
29/07/2010	New Accounts Filed
28/07/2010	Annual Returns
22/07/2009	New Accounts Filed
21/07/2009	Annual Returns
18/08/2008	Annual Returns
11/08/2008	New Accounts Filed
05/02/2005	NEIL CORR has left the board
05/02/2005	NIAMH CORR has resigned as company secretary
05/02/2005	NIAMH CORR has left the board

Previous Company Names

No Previous Names found

NOTES & COMMENTS

Commentary

No exact match CCJs are recorded against the company.

There is insufficient data to indicate a change in this company's percentage of sales.

There is insufficient data to indicate a change in this company's pre-tax profit.

The audit report contains no adverse comments.

No recent changes in directorship are recorded.

The company is not part of a group.

The company was established over 9 years ago.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.10
UK Pound	1	Rs.102.04
Euro	1	Rs.80.74

INFORMATION DETAILS

Analysis Done by :	SUM
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.