MIRA INFORM REPORT

REVISED REPORT

Report Date :

07.11.2014

IDENTIFICATION DETAILS

Name :	AUSTRALIAN WEAVING PTY LTD
Registered Office :	41 Tasman Street Devonport Tasmania 7310
Country :	Australia
Date of Incorporation :	06.06.2013
Com. Reg. No.:	164158589
Legal Form :	Australian Proprietary Company, Limited by Shares
Line of Business :	Import, design, manufacturing and distribution of home textile products.
No. of Employees :	54

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)
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 Address

Subject name AUSTRALIAN WEAVING PTY LTD Business address 41 Tasman Street Town Devonport Province Tasmania Zip / Postal code 7310 Country Australia Telephone +61 3 64214200 Fax +61 3 64214281 Email customerservice@ausweav.com.au Website www.ausweave.com.au Remarks The Subject was established as the successor of the company AUSTRALIAN WEAVING MILLS PTY LTD with the Australian Company Number: 004240386 and Australian Business Number: 70004240386. The Subject took over the business of AUSTRALIAN WEAVING MILLS PTY LTD since 1st January 2014.

Registered address 41 Tasman Street Town Devonport Province Tasmania Zip / Postal code 7310 Country Australia Postal address P.O. Box 501 Town Devonport Province Tasmania Zip / Postal code 7310 Country Australia

SUMMARY DETAILS

Report Summary

Date registered 06/06/2013 Legal form Australian Proprietary Company, Limited by Shares Key personnel Geoffrey Thomas Parker Line of business The Subject’s business consist of import, design, manufacturing and distribution of home textile products. Staff employed 54 employees

Paid-up capital AUD100.00 Sales turnover / Revenue / Income AUD10,000,000.00 (Estimated Non-Consolidated 6 months, 30/06/2014)

CREDIT RISK OUTLOOk

Subject’s Credit Risk Analysis

Country risk Country risk is minimal Operation trend Operational trend is in start-up phase Management experience Management is reasonably experienced Financial performance Financial performance is poor

Organisation structure Organisational structure is acceptable Detrimental Some detrimental found Payment history No payment delays noted Credit amount requested Not described.

STATUTORY DETAILS

Registry Information

Date registered 06/06/2013 Legal form Australian Proprietary Company, Limited by Shares Registration number Australian Company Number: 164158589 Registered authority Australian Securities and Investments Commission Tax / VAT number Australian Business Number: 22164158589

Statutory status Active Previous name None reported. Change of legal form None reported. Remarks The Subject was established as the successor of the company AUSTRALIAN WEAVING MILLS PTY LTD with the Australian Company Number: 004240386 and Australian Business Number: 70004240386. The Subject took over the business of AUSTRALIAN WEAVING MILLS PTY LTD since 1st January 2014.

BOARD OF MANAGEMENT

Key Personnel

Name Geoffrey Thomas Parker Designation Chief Executive Officer Name Francis Stephen Milford Designation Chief Financial Officer

BOARD OF DIRECTORS

Appointments

Name Philip James Bart Title Director and Company Secretary Appointment date 06/06/13 Address 35 Wunulla Road Point Piper, NSW 2027 Australia Biography Born on 20/09/1958 in Melbourne, Victoria, Australia. Name Geoffrey Thomas Parker Title Director Appointment date 06/06/13 Address 73 Shannon Drive Port Sorell, TAS 7307 Australia Biography Born on 02/04/1953 in United Kingdom. Name Francis Stephen Milford Title Company Secretary Appointment date 06/06/13 Address 22 Rossmoyne Street Norwood, TAS 7250 Australia Biography Born on 11/12/1946 in Sydney, New South Wales, Australia.

Staff employed 54 employees

SHARE CAPITAL

Composition

Authorized capital AUD100.00 Number / Type of shares 100 Ordinary Shares Share par value AUD1.00 Issued capital AUD100.00

Paid-up capital AUD100.00

OWNERSHIP / SHAREHOLDERS

Composition

How listed Full list Shareholder name AUSTRALIAN TEXTILE GROUP PTY LTD Address Unit 7, 904 Bourke Street Waterloo, NSW 2017 Australia Number / Type of shares 100 Ordinary Shares Percentage (%) of shares 100%

CORPORATE AFFILIATIONS AND RELATED COMPANIES

Structure

Company name TOLRIC PTY LTD Affiliation type Ultimate Holding Company Country of business Australia Company name AUSTRALIAN TEXTILE GROUP PTY LTD Affiliation type Parent Company Country of business Australia Company name AUSTRALIAN WEAVING MILLS PTY LTD Affiliation type Sister Company Country of business Australia Company name WILSON FABRICS PTY LIMITED Affiliation type Sister Company Country of business Australia Company name BRUCK TEXTILE TECHNOLOGIES PTY LTD Affiliation type Sister Company Country of business Australia Company name BRUCK TEXTILES PTY LTD Affiliation type Sister Company Country of business Australia Company name NEW BOUNTY PTY LIMITED Affiliation type Sister Company Country of business Australia Company name MARK FOYS PTY LIMITED Affiliation type Sister Company Country of business Australia Company name BARON CORPORATION PTY LTD Affiliation type Associate Country of business Australia Company name BLISS APPAREL NO.2 PTY LIMITED Affiliation type Associate Country of business Australia

BANK AND MORTGAGES

Bank Details

Name of bank Commonwealth Bank of Australia 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

Description

Financial statement source Provided by the Subject Financial statement date 30/06/14 Style of financial statement Estimated key figures

Currency of financial statement Australia Dollar (AUD) Exchange rate 1 USD = AUD 1.16 as of 06-11-2014

Concise Financial Data	Consolidation style	Non-Consolidated
	Currency	Australia Dollar (AUD)
	Date of financial year end	30/06/14
	Length of financial accounts	6 months
	Sales turnover / Revenue / Income	10,000,000.00

Remarks

The estimated turnover was provided by Mr. Francis Stephen Milford. 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 import, design, manufacturing and distribution of home textile products.

Purchases

Local None reported.

International The Subject sources its product(s) / material(s) from countries such as China, India, Pakistan.

Sales

Local The Subject sells its product(s) locally.

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

Business Facilities and Assets

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

Branches In addition, the Subject operates from branches located at: Marketing office: 1E Marine Parade Abbotsford, VIC 3067 Australia Production facility: 23 Shanley Street Wangaratta, VIC 3677 Australia

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

International Telegraphic transfer, Prepayment, Credit 30-60 days

Sales Term

Local Bank transfer, Credit 30-90 days

International Telegraphic transfer, Prepayment, 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 :	DIV
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.