MIRA INFORM REPORT
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Report Date : |
02.12.2011 |
IDENTIFICATION DETAILS
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Name : |
ALTECH COMPUTERS CORPORATION PTY LTD |
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Registered Office : |
C/O Cooper Reeves Pty Ltd Level 1, 172 Evans Road, Salisbury, Queensland Zip/Postal Code 4107 |
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Country : |
Australia |
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Financials (as on) : |
30.06.2011 |
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Date of Incorporation : |
01.02.2001 |
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Com. Reg. No.: |
095774262 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Distribution of Information Technology (IT) products and consumables |
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No. of Employees : |
235 Persons |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 1,100,000 |
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Status : |
Satisfactory |
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Payment
Behaviour : |
No Complaints |
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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 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Australia |
a1 |
a1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Identification details
Verified Address
Subject name ALTECH
COMPUTERS CORPORATION PTY LTD
Business address Unit 1, Building C
350-374 Parramatta Road
Town Homebush
Province New South Wales
Zip/postal code 2140
Country Australia
Tel +61 2 86228000
Fax +61 2 86228088
Website www.altech.com.au
Registered address C/o COOPER REEVES PTY LTD Level 1, 172 Evans Road
Town Salisbury
Province Queensland
Zip/postal code 4107
Country : Australia
Comments The provided address Unit R, 10-16 South Street, Rydalmere NSW
2116, Australia was the previous address of the Subject.
Summary details
Executive Summary
Date founded or registered : 01/02/2001
Legal form : Australian Proprietary Company
Chief executive : Andrei Lessovoi
Issued & paid up capital : AUD 102
Sales turnover : AUD 188,802,990 (Non-consolidated 12 months, 30/06/2011)
Net income : AUD 484,595 (Non-consolidated 12 months, 30/06/2011)
Total fixed assets : AUD 34,492,670 (Non-consolidated 12 months, 30/06/2011)
Line of business : Distribution of Information Technology (IT) products and consumables.
Staff employed : 235 employees
Credit risk opinion
Company Analysis
Country risk : Country risk is minimal
Operation trend : Operational trend is progressing
Management experience : Management is adequately experienced
Financial performance : Financial performance is good
Organization structure : Organizational structure is consistent
Detrimental : No detrimental records found
Payment history : No payment delays noted
Credit amount suggestion : USD 1,100,000
Credit amount asked : USD 250,000
Statutory details
Registry Data
Registration date : 01/02/2001
Legal form : Australian Proprietary Company
Registration no : Australian Company Number: 095774262
Registered authority : Australian Securities & Investments Commission
Fiscal/ Tax no : Australian Business Number: 13095774262
Registry status : Live/Active
Previous name : None reported.
Change of legal form : None reported.
Management / directors
Key Management
Name : Andrei Lessovoi
Designation : Director
Name : Antony Sheen
Designation : Director
Name : Ricky Jamin
Designation : Product Manager
Board of directors / other
appointments
Appointments
Name : Andrei Lessovoi Designation : Director Appointment date : 01/02/01
Address : 2
Goodwin Street
Kangaroo Point, QLD 4169
Australia
Biography : Born
on 09-04-1960 in Moscow, Russian Federation.
Name : Antony
Sheen
Designation : Director and Company Secretary
Appointment date : 01/02/01
Address : 1
Marine Drive
Chiswick, NSW 2046
Australia
Biography : Born on 16-07-1963 in Samara, Russian Federation.
Staff employed : 235 employees
Key Advisors
Auditors : ERNST
& YOUNG
680 George Street
Sydney, NSW 2000
Australia
Share capital
Composition
Authorized Capital : AUD 102
No of shares : 102 Ordinary Shares
Share par value : AUD 1
Issued capital : AUD 102
Paid up capital : AUD 102
ownership / shareholders
How listed : Full List
Composition
Shareholder name Andrei Lessovoi
Address 2 Goodwin Street
Kangaroo Point, QLD 4169
Australia
No. of shares 51 Ordinary Shares
% of shares 50%
Shareholder name Antony Sheen
Address 1 Marine Drive
Chiswick, NSW 2046
Australia
No. of shares 51 Ordinary Shares
% of shares 50%
Related companies & corporate Affiliations
Structure
Name ALTECH COMPUTERS (HONG KONG) LIMITED
Affiliation type Associate
Address Room G, 7/F, Block 1
Kwai Tak Industrial Centre
15-33 Kwai Tak Street
Kwai Chung
Hong Kong
Name ALTECH COMPUTERS CORPORATION (NZ) PTY LTD
Affiliation type Associate
Address Unit 3, 99 Carbine Road
Mt. Wellington, Auckland 1060
New Zealand
Name ALTECH COMPUTERS (WA) PTY LTD
Affiliation type Associate
Address Unit 2, 8 Carbon Ct
Osborne Park, WA 6017
Australia
Name ALTECH COMPUTERS PTY LTD
Affiliation type Associate
Address Unit 1, Building C
350-374 Parramatta Road
Homebush, NSW 2140
Australia
Bank & mortgages
Bank Details
Name of
bank :
Westpac Banking Corporation
Address :
Australia
Account
details :
Current Account
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
Unsatisfied Charges:
ASIC Charge Number: 1326818
Date Registered: 17-07-2006
Charge type: Both Fixed & Floating
Date Created: 26-06-2006
Chargees Name: WESTPAC BANKING CORPORATION
Legal Fillings
Bankruptcy fillings : None reported.
Court judgements : None reported.
Tax liens : None reported.
Others : None reported.
financial data
Description
Source of financial statement : Commercial
Registry Filings
Financial statement date : 30/06/11
Type of accounts : Full audited
Currency : Australia Dollar (AUD)
Exchange rate : 1 USD = AUD 1.00 as of 30-11-2011
Summarized Financial Information
Consolidation
type : Non Consolidated Non Consolidated
Currency : Australia Dollar (AUD) Australia Dollar (AUD)
Denomination : (x1) One (x1) One
Date of financial year end : 30/06/11 30/06/10
Length of accounts : 12 months 12 months
Sale turnover / Income : 188,802,990 157,832,174
Gross profit : 17,087,180 17,169,933
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Profit before
tax : |
383,225 |
2,113,780 |
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Net income : |
484,595 |
1,540,525 |
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Non current
assets : |
5,204,522 |
5,876,301 |
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Current assets : |
29,288,148 |
30,388,838 |
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Inventories : |
16,663,245 |
19,306,436 |
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Total assets : |
34,492,670 |
36,265,139 |
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Current
liabilities : |
25,699,113 |
28,372,231 |
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Non current
liabilities : |
1,600,316 |
1,184,262 |
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Total
liabilities : |
27,299,429 |
29,556,493 |
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Share equity : |
7,193,241 |
6,708,646 |
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Retained earning : |
7,193,139 |
6,708,544 |
Operation details
Main activities The
Subject is engaged in distribution of Information Technology (IT)
products and consumables.
In addition the
Subject owns 3 brands: Maestro (home theatre line), NRG (Gaming Machines) and
ICU (surveillance and security solution) catering for the entertainment,
gaming, and security markets.
The Subject boasts
an extensive product range consisting of over 3000 products, from 60 quality
vendors, which is distributed to the retail market via a wide ranging network
of resellers. The Subject has also been appointed the Microsoft OEM Distributor
- one of only 3 in Australia, as well as being Australia's largest OEM customer
for both Intel and AMD.
Product & services Computer and
computer peripherals
Home theatre system
Digital Cameras
Computer software
Printers
Brand Microsoft
Maestro, NRG and ICU (The Subject's own brands) Intel
AMD Lexmark
Logitech NVIDIA
Samsung Sony
KYOCERA
Hitachi GENIUS
Purchases
International : Mainly Taiwan, China, Japan, South
Korea, United States, Singapore
Sales
Local : Yes
International : Pacific Islands, Asia countries
Property & Assets
Premises : The Subject operates from premises
located at the verified heading address consisting of warehouse and administrative office.
Branches : In addition, the Subject operates from
branch offices located:
Unit 1, 30 Bernoulli Street
Darra, QLD 4076
Australia
Tel: +61 7 33386000
1 Torteval Place
Clayton, VIC 3168
Australia
Tel: +61 3 85887777
Unit 4, 9 William Street
Mile End, SA, 5031
Australia
Tel: +61 8 82579999
Other property : Total NBV of property, plant and equipment as of 30-06-2011 was AUD 1,862,027.
Summarized country risk
Central bank : Reserve Bank of Australia
Reserve of foreign exchange & gold : US$ 41.385 billion
Gross domestic product – GDP : US$ 1.235 trillion
GPP (Purchasing power parity) : 918.529 billion of International dollars
GDP per capita - current prices : US$ 55,590
GDP - composition by sector : agriculture: 4.1% industry: 26% services: 70%
Inflation : 2008: 4.4%
2009: 1.8%
2010: 2.8%
Unemployment rate 2008: 4.2 %
2009: 5.6 %
2007:5.2 %
Public debt
(General Government gross
debt as a % GDP) 2008: 11.6%
2009: 17.6%
2010: 22.3 %
Government bond
ratings Standard
& Poor's: AAA-/Stable/A-1+
Moody's rating: Aaa
Moody's outlook: STA
Market value of publicly traded shares US$ 1.258 trillion
Largest
companies in the country : Commonwealth Bank (Banking), BHP
Billiton (Materials), Westpac Banking Group (Banking), Rio Tinto (Materials),
National Australia Bank (Banking), ANZ Banking (Banking), Telstra
(Telecommunications)
Trade & Competitiveness Overview
Total exports US$210.7
billion
Exports commodities coal,
iron ore, gold, meat, wool, alumina, wheat
Total imports US$187.2
billion
Imports commodities machinery and
transport equipment, computers and office machines, telecommunication equipment
and parts, crude oil and petroleum products
Export - major partners Japan 18.9%, China 14.2%, South Korea 8%, US 6%, NZ 5.6%, India
5.5%, UK 4.2%
Import - major partners China 15.5%, US 12.8%, Japan 9.6%, Singapore 5.6%, Germany
5.2%, UK 4.3%, Thailand 4.2%
FDI Inflows 2007: US$45,477 million
2008: US$46,722 million
2009: US$22,572 million
FDI Outflows 2007: US$16,822 million
2008: US$32,819 million
2009: US$ 18,426 million
Best countries for doing business : 10
out of 183 countries
Global competitiveness ranking : 16
(ranking by country on a basis of 133, the first is the best)
Country and Population Overview
Total population :
22.23 million
Total area :
7,692,024 km2
Capital : Canberra
Currency : Australian Dollars (AUD)
Internet
users as % of total population
: 74.00%
Payment history
Purchase Term
Local : Prepayment, Credit up to 90 days
International : L/C, Prepayment, Credit up to 90 days
Sales Term
Local : Prepayment, Credit up to 90 days
International : L/C, Prepayment, Credit up to 90 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.51.65 |
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UK Pound |
1 |
Rs.81.06 |
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Euro |
1 |
Rs.69.51 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.