MIRA INFORM REPORT
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Report Date : |
04.11.2011 |
IDENTIFICATION DETAILS
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Name : |
NESS CORPORATION PTY LIMITED |
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Formerly Known As : |
NESS SECURITY PRODUCTS PTY. LIMITED |
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Registered Office : |
Unit 4, 167 Prospect Highway,Seven Hills,New South Wales,
Zip/postal code 2147 |
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Country : |
Australia |
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Date of Incorporation : |
22.06.1995 |
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Com. Reg. No.: |
069984372 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Designer and manufacturer of intrusion alarm systems and detectors, and supplier of CCTV products |
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 370,000 |
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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 : NESS CORPORATION PTY LIMITED
Other style / Business name : NESS CORPORATION
Business address : Unit 4, 167 Prospect Highway
Town : Seven Hills
Province : New South Wales
Zip/postal code : 2147
Country : Australia
Tel : +61 2 88259222
Fax : +61 2 96742520
Email : ness@ness.com.au
Website : www.ness.com.au
Registered
address : Unit 4, 167 Prospect Highway
Town : Seven Hills
Province : New South Wales
Zip/postal code : 2147
Country : Australia
Summary details
Executive Summary
Date founded or registered : 22/06/1995
Legal form : Australian Proprietary Company
Chief executive : Nazareno Circosta
Issued & paid up capital : AUD 13,571,568
Line of business : Designer and manufacturer of intrusion alarm systems and detectors, and
supplier of CCTV products.
Staff employed : 150 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 370,000
Credit amount asked : Not described.
Statutory details
Registry Data
Registration date : 22/06/1995
Legal form : Australian Proprietary Company
Registration no : Australian Company Number: 069984372
Registered authority : Australian Securities & Investments Commission
Fiscal/ Tax no : Australian Business Number: 28069984372
Registry status : Live/Active
Previous name : The Subject was established on 22-06-1995 under the name LISLUCK PTY.
LIMITED and changed its name to NESS SECURITY PRODUCTS PTY. LIMITED on 08-02-1996. NESS SECURITY PRODUCTS PTY. LIMITED then adapted to the current style on 28-01-2010.
Change of legal form : None reported.
Other registration : NESS CORPORATION is a business name owned by the Subject registered
on 30/10/2008 under registration no: NSW BN98393706.
Management / directors
Key Management
Name : Nazareno Circosta
Designation : Managing Director
Name : John Circosta
Designation : Director
Name : Wayne Benedetti
Designation : General Manager. Operations
Board of directors / other
appointments
Appointments
Name : Nazareno Circosta
Designation : Director
Appointment date : 21/08/95
Address : 16 Homestead Road
Orchard Hills, NSW 2748
Australia
Biography : Born on 23-08-1952 in Guarda Vale, Italy.
Name : John Circosta
Designation : Director
Appointment date : 28/02/03
Address : 27 Heather Glen Road
Winmalee, NSW 2777
Australia
Biography : Born on 08-08-1959 in Sydney, New South Wales, Australia.
Name : Arianne Theresa Nuthall
Designation : Company Secretary
Appointment date : 14/06/01
Address : 5 Lyne Road
Cheltenham, NSW 2119
Australia
Biography : Born on 27-06-1969 in Parramatta, New South Wales, Australia.
Staff employed : 150 employees
Share capital
Composition
Authorized Capital : AUD 13,571,568
No of shares : 449,320 Ordinary Shares
Share par value : No par value
Issued capital : AUD 13,571,568
Paid up capital : AUD 13,571,568
ownership / shareholders
How listed : Full List
Composition
Shareholder name : CIRCOSTA PTY LIMITED
Address : C/o HANCOCK & ASSOCIATES
72-74 Bathurst Street
Liverpool, NSW 2170
Australia
No. of shares : 449,320 Ordinary Shares
% of shares : 100%
Related companies & corporate Affiliations
Structure
Name : CIRCOSTA PTY LIMITED
Affiliation type : Parent Company
Address : C/o HANCOCK & ASSOCIATES
72-74 Bathurst Street
Liverpool, NSW 2170
Australia
Name : FRENHILL PTY LTD
Affiliation type : Associate
Address : C/o HANCOCK & ASSOCIATES
72-74 Bathurst Street
Liverpool, NSW 2170
Australia
Bank & mortgages
Bank Details
Name of bank : Australia And New Zealand Banking Group
Limited
Address : Australia
Account details : Curent 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: 510046
Date Registered: 05-10-1995
Charge type: Both Fixed & Floating
Date Created: 03-10-1995
Chargees Name: VANUATU INTERNATIONAL TRUST COMPANY LIMITED
ASIC Charge Number: 543009
Date Registered: 14-06-1996
Charge type: Both Fixed & Floating
Date Created: 04-06-1996
Chargees Name: WESTPAC BANKING CORPORATION
ASIC Charge Number: 745869
Date Registered: 27-04-2000
Charge type: Both Fixed & Floating
Date Created: 26-04-2000
Chargees Name: FAI INSURANCES LIMITED
Unsatisfied
Charges:
ASIC Charge Number: 875756
Date Registered: 11-07-2002
Charge type: Both Fixed & Floating
Date Created: 20-06-2002
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
Comments : The representative contacted 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 engaged in design and
manufacturing of intrusion alarm systems and detectors, and supplier of CCTV
products.
Product &
services
Access Controllers
Ness Ultraprox Systems
Readers
Security Management Systems
Readers - Long Range Data Comm.
Accessories Software
Cards - Fobs
Card Accessories
Door Strikes Magnetic Locks
Rex Buttons DVRs
Longreach IR 36X Cameras
Cameras
Lenses
Speed Domes
Monitors
Monitor Brackets
IP CCTV
Switchers - Mux - VCRs
Video Accessories
Accessories
BNC Connectors - Tools
Hard Drives in Shells
Hard Drives Raw
Data Distribution
Telephone Distribution Video (RF) Distribution
IR (Infrared) Distribution
Audio Distribution
Control Panels
Multisector Panels
Keypads
Motion detectors
Radio products
Switches
Sirens - Strobes
Noise Kit Medi
Alarms Control
Panels M1
Modules
Housing - Hardware
User Interfaces C-
BUS Interface
Access Control
Detectors - Sensor
Communicating Thermostats
Listen Interface
Voice Recording & Audio
Brand : NESS Security products
Purchases
International : Asia, United States, Europe
Sales
Local : Yes
International : Asia, United States, Europe
Key events : May 2008:
APCS has been
the market leader in Industrial Automation and Control Systems for 26 Years and
have established a strong presence in both local and international markets.
APCS
is a Division of Ness and was relocated from Liliyfield to Ness’ Head Office in
Seven Hills NSW. The integration of the APCS sales and design team with Ness
Engineering, Production and Administration controls and processes, has bought
efficiency and skill sets to APCS which will without doubt assist in APCS
becoming a greater force in their market segment
APCS is Australia's leading
designer and supplier of high quality and competitively priced electronics for
process measurement and control. APCS offers over 200 individual products
including signal isolators, signal converters, transmitters, process alarms,
power supplies, indicators and electrical transducers
Property
& assets:
Premises : The Subject operates from premises
located at the verified heading address consisting of production facilities,
administrative office and warehouse covering 5,000 square metres.
Branches : In addition, the Subject operates from branch offices located at:
Unit 4 /
Nunawading VIC 3131
Australia
+61 3 98756400
Unit 3A / 471 Lytton Road
Morningside QLD 4170
Australia
Tel: 61 3 7 33994910
Unit 1/567 Newcastle Street
West Perth WA 6005
Australia
Tel: +61 8 93282511
Unit 1 / 22 Ware Street
Thebarton SA 5031
Australia
Tel: +61 8 81520000
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 : L/C, Prepayment, Credit 30-90 days
Sales Term
Local : Credit Card, Bank Transfer, Credit (30-60
days)
International : L/C, 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.49.08 |
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UK Pound |
1 |
Rs.78.65 |
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Euro |
1 |
Rs.67.79 |
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.