MIRA INFORM REPORT
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Report Date : |
15.11.2011 |
IDENTIFICATION DETAILS
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Name : |
AUTEX PTY. LTD. |
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Registered Office : |
Level 17, 181 William Street, Melbourne , Victoria , Zip/postal code 3000 |
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Country : |
Australia |
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Date of Incorporation : |
06.01.1992 |
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Com. Reg. No.: |
054713441 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Manufacturing and distribution of wall coverings, polyester insulation etc. |
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 700,000 |
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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 : AUTEX PTY. LTD.
Business address : 166 Bamfield Road
Town : Heidelberg West
Province : Victoria
Zip/postal code : 3081
Country : Australia
Tel : +61 3 94576700
Fax : +61 3 94571020
Email : enquiries@autex.com.au
Website : www.autex.com.au
Registered address : Level 17, 181 William Street
Town : Melbourne
Province : Victoria
Zip/postal code : 3000
Country : Australia
Postal address : P.O. Box 5099
Town : Heidelberg West
Province : Victoria
Zip/postal code : 3081
Country : Australia
Summary details
Executive Summary
Date founded or registered : 06/01/1992
Legal form : Australian Proprietary Company
Chief executive : Warrick Bruce Batt
Issued & paid up capital : AUD 100
Sales turnover : AUD 32,000,000 (Estimated Non-consolidated 12 months, 31/03/2011)
Line of business : Manufacturing and distribution of wall coverings, polyester insulation etc.
Staff employed : 160 (Subject)
Credit risk opinion
Company Analysis
Country risk : Country risk is minimal
Operation trend : Operational trend is steady
Management experience : Management is adequately experienced
Financial performance : Financial performance is good
Organization structure : Organizational structure is stable
Detrimental : No detrimental records found
Payment history : No payment delays noted
Credit amount suggestion : USD 700,000
Credit amount asked : USD 400,000
Comments : Larger credit can still be granted.
Statutory details
Registry Data
Registration
date : 06/01/1992
Legal
form : Australian
Proprietary Company
Registration
no : Australian Company Number: 054713441
Registered
authority : Australian Securities & Investments
Commission
Fiscal/
Tax no : Australian Business Number: 84495094585
Registry
status : Live/Active
Previous
name : None reported.
Change
of legal form : None reported.
Management / directors
Key Management
Name : Warrick Bruce Batt
Designation : Managing Director
Name : Rhonda Smith
Designation : Manager
Board of directors / other
appointments
Appointments
Name : William Randolph Cunningham
Designation : Director
Appointment date : 17/03/92
Address : 326 Beach Road
Campbells Bay, North Shore City 0630
New Zealand
Biography : Born on 01-05-1940 in United Kingdom.
Name : Warrick Bruce Batt
Designation : Director and Company Secretary
Appointment date : 01/06/06
Address : 55 Taparoo Road
Templestowe, VIC 3106
Australia
Biography : Born on 28-12-1965 in Auckland, New Zealand.
Name : Andrew Macleod Cunningham
Designation : Director
Appointment date : 01/06/06
Address : 371 Beach Road
Campbells Bay, North Shore City 0630
New Zealand
Biography : Born on 22-05-1970 in Auckland, New Zealand.
Name : William John Paton
Designation : Director
Appointment date : 09/05/95
Address : C/o Autex Industries Limited
702-718 Rosebank Road
Avondale, Auckland 1026
New Zealand
Biography : Born on 12-07-1962 in Auckland, New Zealand.
Name : Mark Robinson
Designation : Director
Appointment date : 27/01/00
Address : 10 Birchwood Grove
Greenhithe, North Shore City 0632
New Zealand
Biography : Born on 14-11-1964 in United Kingdom.
Name : David Robinson
Designation : Director
Appointment date : 17/03/92
Address : 290 Jervois Road
Herne Bay, Auckland 1011
New Zealand
Biography : Born
on 26-03-1937 in Skipton, United Kingdom.
Staff employed : 160 (Subject)
Share capital
Composition
Authorized Capital : AUD 100
No of shares : 100 Ordinary Shares
Share par value : AUD 1
Issued capital : AUD 100
Paid up capital : AUD 100
ownership / shareholders
How listed : Full List
Composition
Shareholder name : AUTEX INDUSTRIES LIMITED
Address : 702-718 Rosebank Road
Avondale 1026, Auckland
New Zealand
No. of shares : 100 Ordinary Shares
% of shares : 100%
Related companies & corporate Affiliations
Structure
Name : AUTEX INTERNATIONAL LIMITED
Affiliation type : Ultimate Holding Company
Address : 702-718 Rosebank Road
Avondale, Auckland 1026
New Zealand
Name : AUTEX INDUSTRIES LIMITED
Affiliation type : Parent Company
Address : 702-718 Rosebank Road Avondale, 1026 Auckland New Zealand
Name : AUTEX PROPERTIES LIMITED
Affiliation type : Sister Company
Address : 702-718 Rosebank Road
Avondale, Auckland 1026
New Zealand
Name : AUTEX QUEENSLAND PTY LTD
Affiliation type : Sister Company
Address : 29 Demand Avenue
Arundel, QLD 4214
Australia
Name : AUTEX INDUSTRIES LTD (BRANCH)
Affiliation type : Sister Company
Address : Office No. 5Ebg28
Dubai Airport Free Zone
P.O. Box 54948
Dubai
United Arab Emirates
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: 355706
Date Registered: 09-09-1992
Charge type: Both Fixed & Floating
Date Created: 12-08-1992
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 : Estimated
Figures
Financial statement date : 31/03/11
Type of accounts : Estimated key figures
Currency : Australia Dollar (AUD)
Exchange rate : 1 USD = AUD as of 0.97 as of 14-11-2011
Summarized Financial Information
Consolidation type : Non Consolidated
Currency : Australia Dollar (AUD)
Denomination : (x1) One
Date of financial year end : 31/03/11
Length of accounts : 12 months
Sale turnover / Income : 32,000,000
Comments : The estimated turnover was provided by Ms. Rhonda Smith.
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 $12.5 million, and
-The company
and any entities it controls have fewer than 50 employees at the end of the
financial year.
The Subject
meets the above criteria however is still exempted from filling their
financials by the Government of Australia.
Operation details
Main activities : The Subject is engaged in manufacturing
and distribution of wall coverings, polyester insulation etc.
The Subject
also imports and distributes carpet, wall coverings, insulation and bedware,
floor mats, carpet tiles, non-slip flooring, automotive and outdoor carpets
sourced from the Subject's Parent Company in New Zealand.
Product & services : Autex Bedware - wool and polyester
bedding products
Autex Carpets - commercial carpets
Autex
Insulation - thermal and acoustic polyester insulation for commercial and
residential Autex Wall Coverings - polypropylene plush and acoustic wall
covering BaffleBlock - acoustic polyester Composition - acoustic wall coverings
Decord - marine, commercial and outdoor ribbed carpet Dream Maker - polyester
bedding products GreenStuf - thermal and acoustic polyester Performer - marine
and automotive carpets and linings Quietstuf - acoustic polyester Vertiface
- plush wall coverings
Purchases
International : China, Taiwan
Sales
Local : Yes
International : New Zealand
Property & Assets
Premises : The Subject operates from premises
located at the verified heading address consisting of production facilities,
warehouse and administrative office.
Branches : In addition, the Subject operates from
branch offices and production facilities located at:
16 Bushells Place
Wetherill Park, NSW 2164
Australia
Tel: +61 2 97563122
195 Bank Street East Victoria Park Perth, WA 6101
Australia
Tel: +61 8 93551911
Summarized country risk
Gross Domestic
Products (GDP) & Economic Overview
Central bank : Reserve Bank of Australia
Reserve of foreign exchange & gold : US$ 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 %
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 days
Sales Term
Local : Credit 30 days
International : Credit 30 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.50.85 |
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UK Pound |
1 |
Rs.80.36 |
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Euro |
1 |
Rs.68.83 |
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.