MIRA
INFORM REPORT
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Report Date : |
02.12.2011 |
IDENTIFICATION DETAILS
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Name : |
CONDAMINE WELLSCREENS PTY LTD |
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Registered Office : |
62 Industrial Avenue Toowoomba Queensland 4350 |
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Country : |
Australia |
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Date of Incorporation : |
01.10.1993 |
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Com. Reg. No.: |
061706358 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Manufacturer and supplier of stainless steel wedge wire screening products. |
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No. of Employees : |
15 employees |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 140,000 |
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Status : |
Moderate |
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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 30, 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 : CONDAMINE WELLSCREENS PTY LTD
Business address : 62 Industrial Avenue
Town : Toowoomba
Province : Queensland
Zip/postal code : 4350
Country : Australia
Tel : +61 7 46345311
Fax : +61 7 46345344
Email : cws@wedge-wire.com
Website : www.wedge-wire.com
Registered address : 62 Industrial Avenue
Town : Toowoomba
Province : Queensland
Zip/postal code : 4350
Country : Australia
SUMMARY DETAILS
Executive Summary
Date founded or registered : 01/10/1993
Legal form : Australian Proprietary Company
Chief executive : Paul Graeme Schmacker
Issued & paid up capital : AUD 200
Line of business : Manufacturer and supplier of stainless steel wedge wire screening products. Staff employed : 15 employees
CREDIT RISK OPINION
Company Analysis
Country risk : Country risk is minimal
Operation trend : Operational trend is steady
Management experience : Management is reasonably experienced
Financial performance : Financial performance is undetermined
Organization structure : Organizational structure is stable
Detrimental : No detrimental records found
Payment history : No payment delays noted
Credit amount suggestion : USD 140,000
Credit amount asked : Not described.
STATUTORY DETAILS
Registry Data
Registration date : 01/10/1993
Legal form : Australian Proprietary Company
Registration no Australian Company Number: 061706358
Registered authority : Australian Securities & Investments Commission
Fiscal/ Tax no : Australian Business Number: 84061706358
Registry status : Live/Active
Previous name : None reported.
Change of legal form : None reported.
MANAGEMENT / DIRECTORS
Key Management
Name : Paul Graeme Schmacker
Designation : Director
Name : Mark Barry Schmacker
Designation : Director
Name : Geoffrey Polley
Designation : General Manager
BOARD OF DIRECTORS/ OTHER APPOINTMENTS
Appointments
Name : Paul Graeme Schmacker
Designation : Director
Appointment date : 01/10/93
Address : 25 Skehan Street
Centenary Heights, QLD 4350
Australia
Biography : Born on 15-11-1960 in Brisbane, Queensland, Australia.
Name : Mark Barry Schmacker
Designation : Director and Company Secretary
Appointment date : 16/12/97
Address : 284 Meringandan Road
Kleinton, QLD 4352
Australia
Biography : Born on 25-03-1958 in Toowoomba, Queensland, Australia.
Staff employed : 15 employees
SHARE CAPITAL
Composition
Authorized Capital : AUD 200
No of shares : 200 Ordinary Shares
Share par value : AUD 1
Issued capital : AUD 200
Paid up capital : AUD 200
OWNERSHIP / SHAREHOLDERS
How listed : Full List
Composition
Shareholder name : Paul Graeme Schmacker
Address : 25 Skehan Street
Centenary Heights, QLD 4350
Australia
No. of shares : 100 Ordinary Shares
% of shares : 50%
Shareholder name : Mark Barry Schmacker
Address : 284 Meringandan Road
Kleinton, QLD 4352
Australia
No. of shares : 100 Ordinary Shares
% of shares : 50%
RELATED COMPANIES &
CORPORATE AFFILIATIONS
Structure
Related companies and corporate affiliations comments : None reported.
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 : Satisfied Charges:
ASIC Charge Number: 459611
Date Registered: 28-09-1994
Charge type: Both Fixed & Floating
Date Created: 20-09-1994
Chargees Name: BANK OF QUEENSLAND LIMITED Unsatisfied Charges:
ASIC Charge Number: 638361
Date Registered: 09-04-1998
Charge type: Both Fixed & Floating
Date Created: 12-12-1997
Chargees Name: SCHMACKER, PAUL GRAEME
ASIC Charge Number: 649346
Date Registered: 25-06-1998
Charge type: Both Fixed & Floating
Date Created: 09-04-1998
Chargees Name: BANK OF QUEENSLAND LIMITED
ASIC Charge Number: 1045022
Date Registered: 20-05-2004
Charge type: Fixed
Date Created: 30-04-2004
Chargees Name: WESTPAC BANKING CORPORATION
ASIC Charge Number: 1632979
Date Registered: 13-05-2008
Charge type: Fixed
Date Created: 25-03-2008
Chargees Name: BOQ EQUIPMENT FINANCE LIMITED
ASIC Charge Number: 1791058
Date Registered: 22-05-2009
Charge type: Fixed
Date Created: 29-04-2009
Chargees Name: WESTPAC BANKING CORPORATION
ASIC Charge Number: 1890703
Date Registered: 04-12-2009
Charge type: Fixed
Date Created: 23-11-2009
Chargees Name: BOQ EQUIPMENT FINANCE LIMITED
ASIC Charge Number: 2020608
Date Registered: 26-07-2010
Charge type: Fixed
Date Created: 19-07-2010
Chargees Name: BOQ EQUIPMENT FINANCE LIMITED
ASIC Charge Number: 2081185
Date Registered: 12-11-2010
Charge type: Fixed
Date Created: 08-11-2010
Chargees Name: BOQ EQUIPMENT FINANCE LIMITED
ASIC Charge Number: 2185126
Date Registered: 06-06-2011
Charge type: Fixed
Date Created: 30-05-2011
Chargees Name: BOQ EQUIPMENT FINANCE LIMITED
ASIC Charge Number: 2260766
Date Registered: 14-11-2011
Charge type: Fixed
Date Created: 08-11-2011
Chargees Name: BOQ EQUIPMENT FINANCE LIMITED
Legal Fillings
Bankruptcy fillings : None reported.
Court judgements : None reported.
Tax liens : None reported.
Others : None reported.
FINANCIAL DATA
Description
Comments : The representative contacted Mr. Geoffrey Polley 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 $12.5 million, and
-The company and any entities it controls have fewer than 50 employees at the end of the financial year.
OPERATION DETAILS
Main activities : The Subject is a manufacturer and supplier of stainless steel wedge wire screening products that is used in the mining, sewerage, water treatment and food processing industries.
Product & services : Cylinder Screens
Flat Screens
Screen Accessories Water Jet Cutting Electro Polishing
Purchases
International : South Africa, India, China
Sales
Local : Yes
International : Philippines, Pacific Islands
Property & Assets
Premises : The Subject operates from premises located at the verified heading address consisting of production facilities, warehouse and administrative office.
Branches : None reported.
SUMMARIZED COUNTRY RISK
Gross Domestic
Products (GDP) & Economic Overview
Central bank : Reserve Bank of Australia
Reserve of foreign exchange & gold : US$
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%
2010: 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 30-60 days
International : L/C, Credit 30-60 days
Sales Term
Local : Prepayment, Credit 30-60 days
International : L/C, 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
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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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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.