MIRA INFORM REPORT
|
Report Date : |
24.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
PLASCORP PTY LTD |
|
|
|
|
Formerly Known As : |
PLASTICOAT PTY LTD |
|
|
|
|
Registered Office : |
C/O B Woodlands & Associates, 18 St Edmonds Road, Prahran, Victoria 3181 |
|
|
|
|
Country : |
Australia |
|
|
|
|
Date of Incorporation : |
01.03.2001 |
|
|
|
|
Com. Reg. No.: |
096078527 |
|
|
|
|
Legal Form : |
Australian Proprietary Company |
|
|
|
|
Line of Business : |
Manufacturer of industrial ducting and petrochemical composite hose, steel reinforcing mesh and bar etc. |
|
|
|
|
No. of Employees : |
80 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 440,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
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 |
Identification details
Verified Address
|
Subject name : |
PLASCORP PTY LTD |
|
Business
address : |
45 Chambers Road |
|
Town : |
Altona North |
|
Province : |
Victoria |
|
Zip/postal code : |
3025 |
|
Country : |
Australia |
|
Tel : |
+61 3 93914011 |
|
Fax : |
+61 3 93913963 |
|
Website : |
|
|
Registered
address : |
C/o B WOODLANDS & ASSOCIATES 18 St Edmonds Road |
|
Town : |
Prahran |
|
Province : |
Victoria |
|
Zip/postal code : |
3181 |
|
Country : |
Australia |
|
Postal address : |
P.O. Box 2 |
|
Town : |
Altona North |
|
Province : |
Victoria |
|
Zip/postal code : |
3025 |
|
Country : |
Australia |
Summary details
Executive Summary
Date founded or registered : 01/03/2001
Legal form : Australian Proprietary Company
Chief executive : Jeffrey Goldberg
Issued & paid up capital : AUD 1,218,751.15
Sales turnover : AUD 30,000,000 (Estimated
Non-consolidated 12 months, 30/06/2011)
Line of business :
Manufacturer of industrial ducting and
petrochemical composite hose, steel reinforcing mesh and bar etc.
Staff employed : 80 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 440,000
Credit amount asked : Not described.
Statutory details
Registry Data
Registration date : 01/03/2001
Legal form : Australian Proprietary Company
Registration no Australian
Company Number: 096078527
Registered authority : Australian Securities & Investments
Commission
Fiscal/ Tax no : Australian Business Number: 34096078527
Registry status : Live/Active
Previous name : The Subject was established on
01-03-2001 under the name RINALE PTY. LTD and changed its name to PLASTICOAT
PTY LTD on 11-05-2001. The Subject then changed to the current style on
25-06-2010.
Change of legal form : None reported.
Management / directors
Key Management
Name : Jeffrey Goldberg
Designation : Joint Managing Director
Name : George Antonopoulos
Designation : Joint Managing Director
Name : Jakes Raubenheimer
Designation : National Sales Manager
Name : Glen Cooper
Designation : Market Manager
Board of directors / other
appointments
Appointments
Name : Jeffrey
Goldberg
Designation : Director and Company Secretary
Appointment date : 04/05/01
Address : 25
Winston Way
Murrumbeena, VIC 3163
Australia
Biography : Born
on 11-01-1958 in Johannesburg, South Africa.
Name : Anthony
Russell Cooper
Designation : Director
Appointment date : 08/03/01
Address : 23
Lennox Street
Yarraville, VIC 3013
Australia
Biography : Born on 19-05-1951 in Manchester, United Kingdom.
Name : George Antonopoulos
Designation : Director
Appointment date : 04/05/01
Address : 43
Woodville Park Drive
Hoppers Crossing, VIC 3029
Australia
Biography : Born on 20-06-1962 in Melbourne,
Victoria, Australia.
Staff employed : 80 employees
Share capital
Composition
Authorized Capital : AUD 1,218,751.15
No of shares : 89,750 Ordinary Shares
Share par value : No par value
Issued capital : AUD 1,218,751.15
Paid up capital : AUD 1,218,751.15
ownership / shareholders
How listed : Full List
Composition
Shareholder name : JACSIE PTY LTD
Address : C/o B WOODLANDS & ASSOCIATES
18 St Edmonds Road
Prahran, VIC 3181
Australia
No. of shares : 10,000 Ordinary Shares
Shareholder name : Rozelle Joffee
Address : 3B Glenview Street
Gordon, NSW 2072
Australia
No. of shares : 9,000 Ordinary Shares
Shareholder name : Irene Goldberg
Address : 3B Glenview Street
Gordon, NSW 2072
Australia
No. of shares : 1,400 Ordinary Shares
Shareholder name : Anthony Russell Cooper
Address : 23 Lennox Street
Yarraville, VIC 3013
Australia
No. of shares : 29,330 Ordinary Shares
Shareholder name : IDAM DISTRIBUTORS PTY LTD
Address : 34 Ragless Street
St
Marys, SA 5042
Australia
No. of shares : 1,171 Ordinary Shares
Shareholder name : Joy-Ann Goldberg
Address : 25 Winston Way
Murrumbeena, VIC 3163
Australia
No. of shares : 14,937 Ordinary Shares
Shareholder name : Noula Antonopolous
Address : 43 Woodville Park Drive
Hoppers Crossing, VIC 3029
Australia
No. of shares : 14,937 Ordinary Shares
Shareholder name : TURNLEY ENTERPRISES PTY LTD
Address : 83 Park Terrace
Salisbury, SA 5108
Australia
No. of shares : 8,975 Ordinary Shares
Related companies & corporate Affiliations
Structure
Related
companies and corporate affiliations comments : None Reported
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:
Satisfied Charge
Details
ASIC Charge Number: 1100421
Date Registered: 09-11-2004
Charge type: Both Fixed & Floating
Date Created: 30-08-2004
Chargees Name: ESANDA FINANCE CORPORATION LIMITED
Unsatisfied Charge
Details
ASIC Charge Number: 822769
Date Registered: 24-09-2001
Charge type: Both Fixed & Floating
Date Created: 19-09-2001
Chargees Name: AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED
ASIC Charge Number: 982520
Date Registered: 29-09-2003
Charge type: Fixed
Date Created: 25-08-2003
Chargees Name: ESANDA FINANCE CORPORATION LIMITED
ASIC Charge Number: 1067664
Date Registered: 30-07-2004
Charge type: Fixed
Date Created: 14-07-2004
Chargees Name: SUNCORP METWAY ADVANCES CORPORATION PTY LTD
ASIC Charge Number: 1741750
Date Registered: 05-01-2009
Charge type: Both Fixed & Floating
Date Created: 30-11-2008
Chargees Name: ANTHONY RUSSELL COOPER, ORIEL COOPER, NOULA ANTONOPOULOS,
GEORGE ANTONOPOULOS, JOY-ANN GOLDBERG
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 as of 1.00 as of 19-11-2011
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 : 30,000,000
Comments : The estimated turnover was provided by
Mr. Jeffrey Goldberg.
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 $12.5 million, and
-The company
and any entities it controls have fewer than 50 employees at the end of the
financial year.
Operation details
Main activities : The Subject is engaged as manufacturer
of industrial ducting and petrochemical composite hose, steel reinforcing mesh
and bar, mine ventilation ducting, PVC pipes and fitting, galvanised steel
conduit and electrical cable cover.
Purchases
International : Malaysia, Taiwan, China
Sales
Local : Yes
International : United Arab Emirates, South Africa, New
Zealand
Property & Assets
Premises : The Subject operates from premises located
at the verified heading address consisting of production facilities, warehouse
and administrative office.
Branches : The Subject in addition operates from
branch office and warehouse located at:
32 Clune Street
Bassendean, WA 6054
Australia
Tel: +61 8 93798922
Rear 935 Kingsford Smith Drive
Eagle Farm, QLD 4009
Australia
Tel: +61 8 32683855
Summarized country risk
Central bank : Reserve Bank of Australia
Reserve of foreign exchange & gold : US$ 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 : Credit 30 days, Payment once B/L
presented
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
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.