MIRA INFORM REPORT

 

 

Report Date :           

24.11.2011

 

IDENTIFICATION DETAILS

 

Name :

GOLDEN GROUP PTY LTD

 

 

Registered Office :

C/O Barringtons Your Business Advisors, 283 Rokeby Road, Subiaco, Western Australia, Zip/Postal Code 6008

 

 

Country :

Australia

 

 

Date of Incorporation :

14.10.2004

 

 

Com. Reg. No.:

111196082

 

 

Legal Form :

Australian Proprietary Company

 

 

Line of Business :

Property investment and development

 

 

No. of Employees :

10 Persons

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 400,000

Status :

Good

Payment Behaviour :

No Complaints

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

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

Australia

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

 Bottom of Form

Identification details  Bottom of Form

 

 

Verified Address

Subject name                :           GOLDEN GROUP PTY LTD

 

Business address         :           236 Adelaide Terrace

Town                             :           Perth

Province                        :           Western Australia

Zip/postal code              :           6000

Country                         :           Australia

Tel                                :           +61 8 92256770

Fax                               :           +61 8 92256772

Website                        :           www.goldengroup.com.au  

 

Registered address      :           C/o BARRINGTONS YOUR BUSINESS ADVISORS

283 Rokeby Road

Town                             :           Subiaco

Province                        :           Western Australia

Zip/postal code              :           6008

Country                                                           :                       Australia

 

 

Summary details

 

Executive Summary

Date founded or registered                     :   14/10/2004

Legal form                                            :   Australian Proprietary Company

Chief executive                                      :   Howard Sugiarso

Issued & paid up capital                         :   AUD 100

Line of business                                    :   Property investment and development.

Staff employed                                                                                               :   10 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 400,000

Credit amount asked                                      :   Not described.

Statutory details

 

Registry Data

 

Registration date                        :   14/10/2004

Legal form                                 :   Australian Proprietary Company

Registration no                          :  Australian Company Number: 111196082

Registered authority                   :   Australian Securities & Investments Commission

Fiscal/ Tax no                            :   Australian Business Number: 80111196082

Registry status                          :   Live/Active

Previous name                           :   None reported.

Change of legal form                   :   None reported.

 

 

Management / directors

 

Key Management

 

Name                            :           Howard Sugiarso

Designation                   :           President

 

Name                            :           Andrew Sugiaputra

Designation                   :           Managing Director

 

Name                            :           Rudy Handojo

Designation                   :           Director

Biography                      :           The main point of contact for many investors, Rudy works on new projects and

presents proposals to potential investors. He is responsible for negotiating the finer points of proposals.

 

Name                            :           Leo Sugiaputra

Designation                   :           Director

Biography                      :           Based in Sydney, Leo Sugiaputra manages Golden Group's branding and

marketing. Leo holds degrees from Curtin University in Western Australia in design, marketing and advertising. For the past 5 years, Leo has been a director of advertising agencies in Sydney.

 

Board of directors / other appointments

 

Appointments

 

Name                            :           Luan May Wong

Designation                   :           Chairman

Appointment date           :           14/10/04

Address                        :           Pantai Indah Kapuk Jakarta Utara Jakarta 14460, Indonesia

 

Biography                      :           Born on 28-06-1955 in Indonesia.

 

With over 15 years’ property development experience, Mimi Wong is central to the day-to-day operations of Golden Group. Mimi began her career in property with a series of multiple small unit developments and has steadily built on early successes to become one of the country’s leading developers. An avid philanthropist, she is involved in numerous charitable non-profit organizations.

 

Name                            :           Andrew Sugiaputra

Designation                   :           Director and Company Secretary

Appointment date                    :                       20/03/07

Address                        :           5 Buttel Top

Winthrop, WA 6150

Australia

 

Biography                      :           Born on 25-04-1983 in Jakarta, Indonesia.

 

Andrew holds degree in civil engineering (hon.) from University of Western Australia. In addition to new project acquisitions, Andrew is actively involved in all aspects of real estate development, from deal evaluation, analysis and pre-development planning to construction, marketing, sales and leasing. He spearheaded the acquisition of Perth Race Course and a lease agreement with Synergy, Western Australia’s state-owned Electricity Retail Corporation.

 

Name                            :           Howard Sugiarso

Designation                   :           Director

Appointment date           :           14/10/11

Address                        :           5 Buttel Top

Winthrop, WA 6150

Australia

Biography                      :           Born on 28-09-1946 in Medan, Indonesia.

 

Howard Sugiarso’s 20 years career began in Jakarta, Indonesia, where he focused on the property and commercial development sector. As President of Golden Group, Howard oversees the growth of the company and of its subsidiary companies servicing the property industry throughout Australia. And he also manages the finances of the group and its subsidiaries.

 

Staff employed                                              :             10 employees

 

 

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          :   Catherine Sugiarso

Address                        :   Indonesia

No. of shares                 :   70 Ordinary Shares

 

Shareholder name          :   Luan May Wong

Address                        :   Pantai Indah Kapuk

Jakarta Utara

Jakarta 14460

Indonesia

No. of shares                 :   15 Ordinary Shares

 

Shareholder name          :   Andrew Sugiaputra

Address                        :   5 Buttel Top

Winthrop, WA 6150

Australia

 

No. of shares                          :   15 Ordinary Shares

 

 

Related companies & corporate Affiliations

 

Structure

 

Name                :   GOLDEN COMMERCIAL PTY LTD

Affiliation type    :   Associate

Address            :   236 Adelaide Terrace

Perth, WA 6000

Australia

 

 

Bank & mortgages

 

Bank Details

Name of bank    :   Bank of Western Australia

Address            :   Australia

Account details  :   Current Account

 

Name of bank    :   National Australia Bank 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        :   None reported.

 

Legal Fillings

Bankruptcy fillings          :   None reported.

Court judgements           :   None reported.

Tax liens                       :   None reported.

Others                          :   None reported.

 

 

financial data

 

Description

 

Comments                                         :   The representative contacted Ms. Ling 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 operates as a property investment and development company.

Its project portfolio includes residential, commercial, retail, and rural developments in Australia.

 

The Subject is said to have $5 billion portfolio of projects, both completed and under construction.

Project portfolio  :   Project Name: Golden Square

Location: 32 St Georges Terrace, Perth, WA 6000, Australia

Land area: 2,557m2 and a frontage 45.37m to St Georges Terrace

Total: AUD $250 million

 

Project Name: Belle Gardens, Melton

Location: Bridge Road, Melton South VIC 3338, Australia

Land area: 26.12 hectares

Total: AUD $45 million

 

Project Name: Peppermint Grove, Melton

Location: Bulmans Road, Melton West VIC 3337, Australia

Land area: 2.54 hectares

Total: AUD $68 million

 

Project Name: Perth Race Course

Location: Burswood Peninsula, Western Australia, Australia

Land area: 22 ha. Total: AUD $3.5 Billion

 

Project Name: Golden Maddington River Estate, Maddington

Location: Maddington, Western Australia, Australia

Land area: 8.7 hectares

Total: AUD $70 million

 

Project Name: The Synergy building Location: Perth, Western Australia, Australia Land area: 7000 M2

Total: AUD$70 Million

 

Purchases

International                                          :   None

 

Sales

International                                          :   None

 

Property & Assets

Premises                                             :   The Subject operates from premises located at the verified heading address consisting of administrative office.

Branches                                                                                                     :   None reported.

 

 

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

Local                                                    :   None

International                                          :   None

 

Sales Term

Local                                                    :   None

International                                          :   None

 

 

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

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.52.10

UK Pound

1

Rs.81.30

Euro

1

Rs.70.07

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

----

NB

New Business

----

 

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.