MIRA
INFORM REPORT
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Report Date : |
23.12.2011 |
IDENTIFICATION DETAILS
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Name : |
T-CAP INNOVATION PTY LTD |
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Registered Office : |
Unit 11, 110 Bourke Road Alexandria New South 2015 |
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Country : |
Australia |
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Date of Incorporation : |
17.10.2005 |
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Com. Reg. No.: |
116713485 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Import and distributor of electronic products and accessories. |
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No. of Employees : |
15 employees (Full time); 25 employees including casuals |
RATING & COMMENTS
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MIRAs 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 90,000 |
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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 : T-CAP INNOVATION PTY LTD
Business address : Unit 11, 110 Bourke Road
Town : Alexandria
Province : New South Wales
Zip/postal code : 2015
Country : Australia
Tel : +61 2 96983788
Fax : +61 2 96983855
Email : marketing@tcap.com.au
Website : www.tcap.com.au
Registered address : Unit 11, 110 Bourke Road
Town : Alexandria
Province : New South Wales
Zip/postal code : 2015
Country : Australia
Postal address : P.O. Box 7340
Town : Alexandria
Province : New South Wales
Zip/postal code : 2015
Country : Australia
SUMMARY DETAILS
Executive Summary
Date founded or registered : 17/10/2005
Legal form : Australian Proprietary Company
Chief executive : Terry Chun-An Lu
Issued & paid up capital : AUD 200
Sales turnover : AUD 8,000,000 (Estimated non-consolidated 12 months, 30/06/2011)
Line of business : Import and distributor of electronic products and accessories.
Staff employed : 15 employees (Full time); 25 employees including casuals
CREDIT RISK OPINION
Company Analysis
Country risk : Country risk is minimal
Operation trend : Operational trend is steady
Management experience : Management is modestly 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 90,000
Credit amount asked : USD 200,000
Comments : It is advisable to conduct business dealing on prepayment or L/C for larger credit transaction than suggested. Although the Subject seems well positioned in the market and financially stable however without official financial information it would be difficult to grant a large credit amount as requested.
STATUTORY DETAILS
Registry Data
Registration date : 17/10/2005
Legal form : Australian Proprietary Company
Registration no : Australian Company Number: 116713485
Registered authority : Australian Securities & Investments Commission
Fiscal/ Tax no : Australian Business Number: 90116713485
Registry status : Live/Active
Previous name : None reported.
Change of legal form : None reported.
MANAGEMENT / DIRECTORS
Key Management
Name : Terry Lu Chun-An
Designation : Managing Director
Name : Tammy Lee
Designation : Director
BOARD OF DIRECTORS/ OTHER APPOINTMENTS
Appointments
Name : Tammy Lee
Designation : Director and Company Secretary
Appointment date : 17/10/05
Address : C/o T-CAP INNOVATION PTY LTD Unit 11, 110 Bourke Road Alexandria, NSW 2015 Australia
Biography : Born on 16-07-1980 in Taiwan.
Name : Terry Lu Chun-An
Designation : Director
Appointment date : 12/02/07
Address : C/o T-CAP INNOVATION PTY LTD Unit 11, 110 Bourke Road Alexandria, NSW 2015 Australia
Biography : Born on 11-11-1973 in Taipei, Taiwan
Staff employed : 15 employees (Full time); 25 employees including casuals
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 : Tammy Lee
Address : C/o T-CAP INNOVATION PTY LTD Unit 11, 110 Bourke Road Alexandria, NSW 2015
Australia
No. of shares : 180 Ordinary Shares
Shareholder name : Terry Lu Chun-An
Address : C/o T-CAP INNOVATION PTY LTD Unit 11, 110 Bourke Road Alexandria, NSW 2015
Australia
No. of shares : 20 Ordinary Shares
RELATED COMPANIES & CORPORATE
AFFILIATIONS
Structure
Related companies and corporate affiliations comments: None reported.
BANK & MORTGAGES
Bank Details
Name of bank : Commonwealth Bank Of Australia
Address : Australia
Account details : Current Account
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 : ASIC Charge Number: 1536026
Date Registered: 29-10-2007
Charge type: Both Fixed & Floating
Date Created: 02-07-2007
Chargees Name: BANK OF QUEENSLAND 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 0.99 as of 22-12-2011
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 : 8,000,000
Comments : The estimated turnover was provided by Mr. Terry Lu Chun-An.
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 $12.5 million, and
-The company and any entities it controls have fewer than 50 employees at the end of the financial year.
OPERATION DETAILS
Main activities : The Subject is mainly engaged in import, wholesale & distribution of electronic products and accessories.
Products are distributed through a network of more than 300 dealers. Product & services : Green power products: Solar decor and solar clock
Electronics products and accessories: Media player, home teater systems, radio, speakers, audio/video cables, zoom lens, portable/outdoor entertainment
Service: Logistics services
Purchases
International : Taiwan, China, South Korea, United Kingdom
Sales
Local : Yes
International : Pacific Islands, Taiwan, China
Property & Assets
Premises : The Subject operates from premises located at the verified heading address consisting of administrative office and warehouse.
Branches : None reported.
SUMMARIZED COUNTRY RISK
Gross Domestic
Products (GDP) & Economic
Overview Central bank : Reserve Bank of Australia
Reserve of foreign exchange & gold : US$ 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
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.52.78 |
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1 |
Rs.82.73 |
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Euro |
1 |
Rs.68.88 |
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 SCs 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.