MIRA INFORM REPORT

Report Date :

06.11.2014

IDENTIFICATION DETAILS

Name :	UNITED WOOL COMPANY PTY LTD

Registered Office :	21 Armstrong Street North Ballarat Victoria 3350

Country :	Australia

Date of Incorporation :	31.05.2013

Com. Reg. No.:	164061198

Legal Form :	Australian Proprietary Company, Limited by Shares

Line of Business :	The Subject’s business consist of sourcing, procurement and export of wool

No. of Employees :	Directors are the only employees of the Subject

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
--	NB	New Business	--

Status :	New Business
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)

Australia

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

CORPORATE DETAILS

Verified Address

Subject name
UNITED WOOL COMPANY PTY LTD
Business address
Gate 4, 5-29 Frederick Road
Town
Tottenham
Province
Victoria
Zip / Postal code
3012
Country
Australia
Telephone
+61 3 93153057
Fax
+61 3 93153063
Email
wool@unitedwool.com.au
Website
www.unitedwool.com.au

Registered address
21 Armstrong Street North
Town
Ballarat
Province
Victoria
Zip / Postal code
3350
Country
Australia

SUMMARY DETAILS

Report Summary

Date registered
31/05/2013
Legal form
Australian Proprietary Company, Limited by Shares
Key personnel
Matthew Hand
Line of business
The Subject’s business consist of sourcing, procurement and export of wool.
Staff employed
Directors are the only employees of the Subject

Paid-up capital
AUD78.00

STATUTORY DETAILS

Registry Information

Date registered
31/05/2013
Legal form
Australian Proprietary Company, Limited by Shares
Registration number
Australian Company Number: 164061198
Registered authority
Australian Securities and Investments Commission
Tax / VAT number
Australian Business Number: 84164061198

Statutory status
Active
Previous name
None reported.
Change of legal form
None reported.

BOARD OF MANAGEMENT

Key Personnel

Name
Matthew Hand
Designation
Managing Director

BOARD OF DIRECTORS

Appointments

Name
Matthew Hand
Title
Director and Company Secretary
Appointment date
31/05/13
Address
650 Pollocksford Road
Gnarwarre, VIC 3221
Australia
Biography
Born on 03/09/1970 in Hobart, Tasmania, Australia.

Matthew Hand was formerly the General Manager of Fox & Lillie Pty Ltd.
Name
Andrew Ian Jackson
Title
Director
Appointment date
12/09/13
Address
73 Mahoneys Road
Riddells Creek, VIC 3431
Australia
Biography
Born on 10/05/1977 in Broken Hill, New South Wales, Australia.
Name
Nigel Robert Rendell
Title
Director
Appointment date
12/09/13
Address
6 Trentwood Drive
Highton, VIC 3216
Australia
Biography
Born on 24/06/1978 in Warrnambool, Victoria, Australia.

Nigel Robert Rendell was formerly a senior trader at Fox & Lillie Pty Ltd.

Staff employed
Directors are the only employees of the Subject

SHARE CAPITAL

Composition

Authorized capital
AUD78.00
Number / Type of shares
78 Ordinary Shares
Share par value
AUD1.00
Issued capital
AUD78.00

Paid-up capital
AUD78.00

OWNERSHIP / SHAREHOLDERS

Composition

How listed
Full list
Shareholder name
GEELONG WOOL COMPANY PTY LTD
Address
C/o CD & G ACCOUNTANTS PTY LTD
Level 2, 235 Ryrie Street
Geelong, VIC 3220
Australia
Number / Type of shares
34 Ordinary Shares
Shareholder name
JACKSON & DAUGHTERS PTY LTD
Address
Melbourne, VIC 3000
Australia
Number / Type of shares
22 Ordinary Shares
Shareholder name
WOOLLY DAGS PTY LTD
Address
C/o CD & G ACCOUNTANTS PTY LTD
Level 2, 235 Ryrie Street
Geelong, VIC 3220
Australia
Number / Type of shares
22 Ordinary Shares

CORPORATE AFFILIATIONS AND RELATED COMPANIES

Structure

Company name
UNITED WOOL COMPANY PTY LTD
Affiliation type
Wholly-owned Subsidiary
Country of business
New Zealand
Comments
Overseas ASIC Company.

BANK AND MORTGAGES

Bank Details

Name of bank
Australia and New Zealand Banking Group Limited
Address
Australia

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 Filings

Bankruptcy filings
None reported.
Court judgements
None reported.

Tax liens
None reported.
Others
None reported.

FINANCIAL STATISTICS

Remarks

The representative contacted Mr. Matthew Hand declined to provide any financial information until the inquiring party details are revealed.

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.

BUSINESS DETAILS

Operational Details

Main activities
The Subject engages in sourcing, procurement and export of wool.
Products and services
Wool

Purchases

Local
The Subject sources its product(s) / material(s) locally.

International
None reported.

Sales

Local
None reported.

International
The Subject exports its product(s) to countries in Asia.

Business Facilities and Assets

Premises
The Subject operates from the verified heading address consisting of an administrative office.

Branches
None reported.

SUMMARIZED COUNTRY RISK

Gross Domestic Products (GDP) and Economic Overview

Central bank
Reserve Bank of Australia
Reserve of foreign exchange and gold
US$ 58.415 billion
Gross domestic product (GDP)
US$ 1.436 trillion
Purchasing power parity (GPP)
1.041 trillion of International dollars
GDP per capita (current prices)
US$ 61,137
GDP composition by sector
agriculture: 3.8%
industry: 27.4%
services: 68.7%
Inflation
2012: 1.8%
2013: 2.5%
2014: 2.3%
Unemployment rate
2012: 5.2%
2013: 5.7%
2014: 6.2%

Public debt (general Government gross debt as percentage (%) of GDP)
2012: 27.2%
2013: 28.8%
2014: 30.8%
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
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 and Competitiveness Overview

Total exports
US$251.7 billion
Export commodities
Coal, iron ore, gold, meat, wool, alumina, wheat, machinery and transport equipment
Total imports
US$245.8 billion
Import commodities
Machinery and transport equipment, computers and office machines, telecommunication equipment and parts; crude oil and petroleum products
Best countries for doing business
11 out of 189 countries
Global competitiveness ranking
22 (ranking by country on a basis of 144, the first is the best)

Major export partners
China 29.5%, Japan 19.3%, South Korea 8%, India 4.9%
Major import partners
China 18.4%, US 11.7%, Japan 7.9%, Singapore 6%, Germany 4.6%, Thailand 4.2%, South Korea 4.1%
FDI inflows
2011: US$ 65,209 million
2012: US$ 55,518 million
2013: US$ 49,826 million
FDI outflows
2011: US$ 8,702 million
2012: US$ 6,212 million
2013: US$ 6,364 million

Country and Population Overview

Total population
23.485 million
Total area
7,741,220 sq km
Capital
Canberra

Currency
Australian dollars (AUD)
Internet users as percentage (%) of total population
79%

PAYMENT OUTLOOK

Purchases Term

Local
Prepayment, Bank transfer, Credit 30-60 days

Sales Term

International
Prepayment, Telegraphic transfer, Credit 30-60 days

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 but based on our research, payments are believed to be met without delay.

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.61.39
UK Pound	1	Rs.98.00
Euro	1	Rs.76.99

INFORMATION DETAILS

Analysis Done by :	KAR

Report Prepared by :	SDA

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.