MIRA
INFORM REPORT
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Report Date : |
24.11.2011 |
IDENTIFICATION DETAILS
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Name : |
SIGNORINO TILE GALLERY PTY. LTD. |
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Registered Office : |
484 Church Street Richmond Victoria 3121 |
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Country : |
Australia |
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Date of Incorporation : |
26.04.1996 |
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Com. Reg. No.: |
073770948 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Import and distribution of Italian tiles and natural stone. |
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No. of Employees : |
22 employees |
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 230,000 |
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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 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 : SIGNORINO TILE GALLERY PTY. LTD.
Business address : 484 Church Street
Town : Richmond
Province : Victoria
Zip/postal code : 3121
Country : Australia
Tel : +61 3 94279100
Fax : +61 3 94297907
Email : info@signorino.com.au
Website : www.signorino.com.au
Registered address : Level 18, 499 St Kilda Road
Town : Melbourne
Province : Victoria
Zip/postal code : 3004
Country : Australia
SUMMARY DETAILS
Executive Summary
Date founded or registered : 26/04/1996
Legal form : Australian Proprietary Company
Chief executive : John Signorino
Issued & paid up capital : AUD 2
Sales turnover : AUD 9,000,000 (Estimated Non-consolidated 12 months, 30/06/2011)
Line of business : Import and distribution of Italian tiles and natural stone.
Staff employed : 22 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 230,000
Credit amount asked : USD 600,000
STATUTORY DETAILS
Registry Data
Registration date : 26/04/1996
Legal form : Australian Proprietary Company
Registration no Australian Company Number: 073770948
Registered authority : Australian Securities & Investments Commission
Fiscal/ Tax no : Australian Business Number: 75109955340
Registry status : Live/Active
Previous name : None reported.
Change of legal form : None reported.
MANAGEMENT / DIRECTORS
Key Management
Name : John Signorino
Designation : Managing Director
Name : Franca Signorino
Designation : General Manager
BOARD OF DIRECTORS/ OTHER APPOINTMENTS
Appointments
Name : Gianmichele Signorino
Designation : Director and Company
Secretary Appointment date : 26/04/96
Address : 150 Clarendon Street
East Melbourne, VIC 3002
Australia
Biography : Born on 18-02-1952 in Erba, Italy.
Staff employed : 22 employees
SHARE CAPITAL
Composition
Authorized Capital :
AUD 2
No of shares : 2 Ordinary Shares
Share par value :
AUD 1
Issued capital : AUD 2
Paid up capital : AUD 2
OWNERSHIP / SHAREHOLDERS
How listed : Full List
Composition
Shareholder name : Gianmichele Signorino
Address : 150 Clarendon Street
East Melbourne, VIC 3002
Australia
No. of shares : 2 Ordinary Shares
% of shares : 100%
RELATED COMPANIES &
CORPORATE AFFILIATIONS
Structure
Name : SIGNORINO CERAMICS (BRUNSWICK) PTY. LTD.
Affiliation type : Associate
Address : 484 Church Street
Richmond, VIC 3121
Australia
Name : SIGNORINO & SON PTY. LIMITED
Affiliation type : Associate
Address : 484 Church Street
Richmond, VIC 3121
Australia
Name : SIGNORINO CONTRACTING PTY. LTD.
Affiliation type : Associate
Address : 484 Church Street
Richmond, VIC 3121
Australia
Name : SIGNORINO & SON CUSTODIAN PTY. LTD.
Affiliation type : Associate
Address : 484 Church Street
Richmond, VIC 3121
Australia
Name : CERAMIC TILE DISTRIBUTORS PTY. LTD.
Affiliation type : Associate
Address : 484 Church Street
Richmond, VIC 3121
Australia
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 : Unsatisfied Charges:
ASIC Charge Number: 627082
Date Registered: 14-01-1998
Charge type: Both Fixed & Floating
Date Created: 22-12-1997
Chargees Name: AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED
ASIC Charge Number: 2198972
Date Registered: 06-07-2011
Charge type: Fixed
Date Created: 30-06-2011
Chargees Name: TOYOTA FINANCE AUSTRALIA LTD
Legal Fillings
Bankruptcy fillings : None reported.
Court judgements : None reported.
Tax liens : None reported.
Others : None reported.
FINANCIAL DATA
Description
Source of financial statement : External Sources
Financial statement date : 30/06/11
Type of accounts : Estimated key figures
Currency : Australia Dollar (AUD)
Exchange rate : 1 USD = AUD 1.01 as of 22-11-2011
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 : 9,000,000
Comments : 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 $12.5 million, and
-The company and any entities it controls have fewer than 50 employees at the end of the financial year.
OPERATION DETAILS
Main activities : The Subject is engaged in import and distribution of Italian tiles and natural stone.
Brand : SIGNORINO
Purchases
International : Mainly from Italy
Sales
Local : 100% local sales.
International : No exports.
Property & Assets
Premises : The Subject operates from premises located at the verified heading address consisting of showroom, warehouse and administrative office.
Branches : None reported.
SUMMARIZED COUNTRY RISK
Gross Domestic
Products (GDP) & Economic Overview
Central bank : Reserve Bank of Australia
Reserve of foreign exchange & gold : US$ 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
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.52.10 |
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1 |
Rs.81.30 |
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Euro |
1 |
Rs.70.07 |
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.