MIRA INFORM REPORT
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Report Date : |
16.12.2011 |
IDENTIFICATION DETAILS
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Correct Name : |
ACERACK AUSTRALIA PTY LTD |
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Registered Office : |
C/O Brennan Sloan Chartered Accountants, 151 Walcott Street , Mount Lawley, Western Australia , Zip/Postal Code6050 |
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Country : |
Australia |
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Date of Incorporation : |
24.03.2009 |
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Com. Reg. No.: |
136057513 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Wholesale distributors of storage systems and equipment |
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No. of Employees : |
7 persons |
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 110,000 |
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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 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 : ACERACK AUSTRALIA PTY LTD
Business address : 5 Hanwell Way
Town : Bassendean
Province : Western Australia
Zip/postal
code : 6054
Country : Australia
Tel : +61 8 93770500
Fax : +61 8 93770300
Email : sales@acerack.com.au
Website : www.acerack.com
Registered address : C/o BRENNAN SLOAN CHARTERED ACCOUNTANTS
151 Walcott Street
Town : Mount Lawley
Province : Western Australia
Zip/postal
code : 6050
Country : Australia
Comments : The provided address 95 Daly Street,
Belmont, WA 6104, Australia belongs to
the Subject’s warehouse premise.
Summary details
Executive Summary
Date founded or registered : 24/03/2009
Legal form : Australian Proprietary Company
Chief executive : Ian Angus Macdonald
Issued & paid up capital : AUD 1
Sales turnover : AUD 2,000,000 (Estimated Non-consolidated 12 months, 30/06/2011)
Line of business : Wholesale distributors of storage systems and equipment.
Staff employed : 7 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 fair
Organization structure : Organizational structure is stable
Detrimental : No detrimental records found
Payment history : No payment delays noted
Credit amount suggestion : USD 110,000
Credit amount asked : Not described.
Statutory details
Registry Data
Registration date : 24/03/2009
Legal form : Australian Proprietary Company
Registration no : Australian Company Number: 136057513
Registered authority : Australian Securities & Investments Commission
Fiscal/ Tax no : Australian Business Number: 11136057513
Registry status : Live/Active
Previous name : None reported.
Change of legal form : None reported.
Management / directors
Key Management
Name : Ian
Angus Macdonald
Designation : Managing Director
Board of directors / other
appointments
Appointments
Name : Ian Angus MacDonald
Designation : Director
Appointment date : 24/03/09
Address : 160 Victoria Avenue
Dalkeith, WA 6009
Australia
Biography : Born on 05-10-1961 in Perth, Western Australia, Australia.
Name : Andrew Brian Gordon
Designation : Director
Appointment date : 15/06/10
Address : 17 Yorna Road
Kalamunda, WA 6076
Australia
Biography : Born on 29-07-1968 in Sydney, New South Wales, Australia.
Name : Christopher Ian Fudge
Designation : Director and Company Secretary
Appointment date : 24/03/09
Address : 117 Castlecrag Drive
Kallaroo, WA 6025
Australia
Biography : Born on 19-10-1959 in United Kingdom.
Staff employed : 7 employees
Share capital
Composition
Authorized Capital : AUD 1
No of shares : 1 Ordinary Share
Share par value : AUD 1
Issued capital : AUD 1
Paid up capital : AUD 1
ownership / shareholders
How listed : Full List
Composition
Shareholder name : APC GROUP PTY LTD
Address : 5 Hanwell Way
Bassendean, WA 6054
Australia
No. of shares : 1 Ordinary Share
% of shares : 100%
Related companies & corporate Affiliations
Structure
Name APC GROUP PTY LTD
Affiliation type Parent Company
Address 5 Hanwell Way
Bassendean, WA 6054
Australia
Name APC STORAGE SOLUTIONS PTY LTD
Affiliation type Sister Company
Address 5 Hanwell Way
Bassendean, WA 6054
Australia
Comments : APC Storage Solutions Pty. Ltd.
designs, manufactures, sells, and installs storage and handling systems. It
offers pallet racking, steel shelving, and office storage systems; and
industrial racking, warehouse products, and safety supplies. The company’s
services include consultation, handover and commissioning, relocations, safety
inspections, and preventative maintenance contracts. It offers its products
through a distribution network in Australia and internationally. The company
was founded in 1971 and is based in Bassendean, Australia.
Bank & mortgages
Bank Details
Name of
bank :
Australia And New Zealand Banking Group
Limited
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 Charge Details:
ASIC Charge Number: 2069350
Date Registered: 26-10-2010
Charge type: Both Fixed & Floating
Date Created: 25-10-2010
Chargees Name: AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED
Legal Fillings
Bankruptcy fillings :
None reported.
Court judgements :
None reported.
Tax liens : None reported.
Others : None reported.
financial data
Description
Source of financial statement : Provided
by the Subject
Financial statement date : 30/06/11
Type of accounts : Estimated key figures
Currency : Australia Dollar (AUD)
Exchange rate : 1 USD = AUD 1 as of 14-12-2011
Summarized Financial Information
Consolidation type : Non Consolidated
Currency : Australia Dollar (AUD)
Denomination : (x1) One
Date of financial year end : 30/06/11
Length of accounts : 12 months
Sale turnover / Income : 2,000,000
Comments : 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 $12.5 million, and
-The company and any entities it controls have fewer than 50 employees at the end of the financial year.
Operation details
Main activities The Subject is engaged in
wholesale distributors of storage systems and equipment.
Product & services Pallet Racking:
Acerack Mark 8, Box Beams, Frame Spacers, Frames & Uprights, Pallet
Racking, Step Beams, Wire Decking
Racking Accessories: Beam Safety Locks, Board Clip, Bracing,
Heavy Duty Baseplate, Load Sign, Narrow Aisle Baseplate, Reversible Baseplate,
Splice Plate
Longspan Shelving: Longspan Shelving, Plastic Feet, Shelving
Joiner
Small Parts Storage: Heavy Duty Hook, Louvre
Panel Stand, Louvre Panels, Spare Parts Trays
Wire Shelving: Archive Wire Shelving, Coolroom Shelving,
Display Wire Shelving, Wire Filing Racks
Packing
Benches: Packing Bench Castors, Packing Benches
High Density Cabinets: High
Density Cabinets
Purchases
International : China, Taiwan
Sales
Local : Yes
International : New Zealand
Property & Assets
Premises : The Subject operates from premises
located at the verified heading address consisting of administrative office.
Branches : In addition, the Subject operates from warehouse
located at:
95 Daly Street
Belmont, WA 6104
Australia
Summarized country risk
Central bank : Reserve Bank of Australia
Reserve of foreign exchange & gold : US$ 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
International : Prepayment, Credit 30-60 days
Sales Term
Local : Prepayment, Credit 30-60 days
International : 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.54.24 |
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UK Pound |
1 |
Rs.83.77 |
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Euro |
1 |
Rs.80.46 |
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.