MIRA INFORM REPORT

 

 

Report Date :           

19.10.2011

 

IDENTIFICATION DETAILS

 

Name :

AUSTRALIAN MERINO EXPORT PTY LTD

 

 

Registered Office :

79 Gheringhap Street, Geelong, Victoria 3220

 

 

Country :

Australia

 

 

Date of Incorporation :

26.06.2008

 

 

Legal Form :

Proprietary Company

 

 

Line of Business :

exporters of Wool

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Unknown

 

 

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

 

 

REGISTERED NAME      

 

AUSTRALIAN MERINO EXPORT PTY LTD

ACN: 131 8891 668

 

 

CORPORATE SEARCH

 

Incorporation Date:                     26 Jun 2008

 

Incorporation State:                    Victoria

 

Registered Office                       79 GHERINGHAP Street

                                                GEELONG, Victoria 3220 Australia

 

Number of Shares Issued:           100

 

Paid Capital:                              100

 

Shareholders                             CHRISTOPHER JOHN KELLY AND OTHERS

Number of Shares: 35

 

BARWON RURAL CONTRACTING PTY LTD

Number of Shares: 35

 

AMEM HOLDINGS PTY LTD

Number of Shares: 30

 

Directors                                   THOMSON, JAMES RODERICK

Appointment Date: 26 Jun 2008

Date of Birth: 10 Nov 1973

Gender: Male

Address: 24 CULZEAN Crescent HIGHTON, Victoria 3216 Australia

Resident Overseas: No

 

KELLY, CHRISTOPHER JOHN

Appointment Date: 26 Jun 2008

Date of Birth: 17 Jul 1963

Gender: Unknown

Address: 1314 STEIGLITZ Road SUTHERLANDS CREEK, Victoria 3331 Australia

Resident Overseas: No

 

FRANKLYN, RODNEY ERNEST

Appointment Date: 26 Jun 2008

Date of Birth: 10 Nov 1944

Gender: Male

Address: 65 THE ESPLANADE DRUMCONDRA, Victoria 3215 Australia

Resident Overseas: No

 

Secretary                                  JAMES RODERICK THOMSON

                                                Appointment Date: 26 Jun 2008  

 

 

BUSINESS STRUCTURE

 

TRADING ADDRESS                 Suite 3, 204-218 Dryburgh St

                                                NORTH MELBOURNE, VIC 3031

 

TELEPHONE                             (03) 9329 0760

 

FACSIMILE                                            (03) 9329 9751

 

BANK                                       ANZ BANKING GROUP 

                                               

EMPLOYEES                            5

           

 

BACKGROUND

 

The subject was incorporated in Victoria on 26 June 2008 under the current style.

 

Operations were founded in 2007.

 

 

OPERATIONS

 

The subject operates as wool exporters.

 

Activities are conducted from leased premises.

 

 

ADVERSE

                                               

A search of failed to trace any litigation listed against the subject at that date.

 

 

FINANCES

 

The subject is not required to lodge financial statements with the Australian Securities and Investments Commission.

 

During the current interview conducted with the subject’s financial controller he advised that for the last financial year ended 30 June 2011 the subject traded profitably and recorded revenue of $70,000,000.

 

On a projected basis the subject expects to record revenue of $60,000,000 to $70,000,000 for the current financial year ending 30 June 2012.

 

Current assets include stock on hand of $2,000,000 to $4,000,000.

 

The subject maintains a financing facility with the ANZ Banking Group which is used to assist in funding Working Capital requirements.

 

Further details pertaining to the subject’s financial position were unable to be obtained for the current enquiry.

 

 

TRADE SURVEY

 

A trade survey on the subject traced the following accounts:

 

·         (AWH P/L) Nominated supplier failed to respond to correspondence despite chasing.

 

·         (Swan Wool Processors) Nominated supplier failed to respond to correspondence despite chasing.

 

 

SUMMARY

 

The subject was incorporated in Victoria on 26 June 2008 under the current style.

 

For the last financial year ended 30 June 2011 the subject traded profitably and recorded revenue of $70,000,000.

 

On a projected basis the subject expects to record revenue of $60,000,000 to $70,000,000 for the current financial year ending 30 June 2012.

 

The subject maintains a financing facility with the ANZ Banking Group which is used to assist in funding Working Capital requirements.

 

           

 

 

 Bottom of Form

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.14

UK Pound

1

Rs.77.58

Euro

1

Rs.67.58

 

 

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.