MIRA
INFORM REPORT
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Report Date : |
19.10.2011 |
IDENTIFICATION DETAILS
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Name : |
PROMOTERS PARADISE PTY LTD |
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Registered Office : |
Unit 29, 47-51 Lorraine Street Peakhurst New South Wales 2210 |
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Country : |
Australia |
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Date of Incorporation : |
27.09.2007 |
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Com. Reg. No.: |
127752087 |
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Legal Form : |
Australian Proprietary |
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Line of Business : |
Import and distributor of reusable green bags, shopping bags, and promotional bags. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 20,000 |
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Status : |
Moderate |
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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 : PROMOTERS PARADISE PTY LTD
Other style / Business name : ALBURY ENVIRO BAGS
Business address : Unit 29, 47-51 Lorraine Street
Town : Peakhurst
Province : New South Wales
Zip/postal code : 2210
Country : Australia
Tel : +61 2 95346283
Fax : +61 2 82094822
Email : anne@alburyenvirobags.com.au
Website : www.promotersparadise.com.au / www.alburyenvirobags.com.au
Registered address : Unit 29, 47-51 Lorraine Street
Town : Peakhurst
Province : New South Wales
Zip/postal code : 2210
Country : Australia
Postal address : P.O. Box 961
Town : Riverwood
Province : New South Wales
Zip/postal code : 2210
Country : Australia
SUMMARY DETAILS
Executive Summary
Date founded or registered : 27/09/2007
Legal form : Australian Proprietary Company
Chief executive : Graham Harold Williamson
Issued & paid up capital : AUD 2
Sales turnover : AUD 1,000,000 (Estimated non-consolidated 12 months, 30/06/2011)
Line of business : Import and distributor of reusable green bags, shopping bags, and promotional bags.
Staff employed : 3 employees
CREDIT RISK OPINION
Company Analysis
Country risk : Country risk is minimal
Operation trend : Operational trend is in start-up phase
Management experience : Management is modestly experienced
Financial performance : Financial performance is fair
Organization structure : Organizational structure is acceptable
Detrimental : No detrimental records found
Payment history : No payment delays noted
Credit amount suggestion : USD 20,000
Credit amount asked : Not described.
STATUTORY DETAILS
Registry Data
Registration date : 27/09/2007
Legal form : Australian Proprietary Company
Registration no Australian Company Number: 127752087
Registered authority : Australian Securities & Investments Commission
Fiscal/ Tax no : Australian Business Number: 69127752087
Registry status : Live/Active
Previous name : None reported.
Change of legal form : None reported.
Other registration : ALBURY ENVIRO BAGS is a business name owned by the Subject registered on 15/04/2008 under the business registration no: NSW BN98355198.
PROMOTER'S PARADISE is a business name owned by the Subject registered on 14/02/2007 under the business registration no: NSW BN98272046.
MANAGEMENT / DIRECTORS
Key Management
Name : Graham Harold Williamson
Designation : Managing Director
Name : Jie Wang
Designation : Director
BOARD OF DIRECTORS/ OTHER APPOINTMENTS
Appointments
Name : Graham Harold Williamson
Designation : Director and Company Secretary
Appointment date : 27/09/07
Address : 31 Amy Road
Riverwood, NSW 2210
Australia
Biography : Born on 19-03-1950 in Sydney, New South Wales, Australia.
Name : Jie Wang
Designation : Director
Appointment date : 18/10/07
Address : 31 Amy Road
Riverwood, NSW 2210
Australia
Biography : Born on 21-09-1964 in Dangshan, China.
Staff employed : 3 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 : Jie Wang
Address : 31 Amy Road
Riverwood, NSW 2210
Australia
No. of shares : 1 Ordinary Share
% of shares : 50%
Shareholder name : Graham Harold Williamson
Address : 31 Amy Road
Riverwood, NSW 2210
Australia
No. of shares : 1 Ordinary Share
% of shares : 50%
RELATED COMPANIES &
CORPORATE AFFILIATIONS
Structure
Address
Related companies and corporate affiliations comments: None reported.
BANK & MORTGAGES
Bank Details
Name of bank : Commonwealth Bank Of Australia
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
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 0.99 as of 18/10/2011
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 : 1,000,000
Comments : The estimated turnover was provided by Mr. Graham Harold Williamson.
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 $12.5 million, and
-The company and any entities it controls have fewer than 50 employees at the end of the financial year.
OPERATION DETAILS
Main activities : The Subject is engaged in import and distribution of reusable green bags, shopping bags, and promotional bags to retail outlets, corporations, trade fairs, schools, government instrumentalities, and other organizations.
Product & services : All kinds of bags: Reusable green bags
Natural fibre or recycled shopping bags
Shopping bags Promotional bags Fashion bags
Non woven shopping bags
Cotton or calico bags
School bags, satchels & shoulder bags
Folding bags
Specialty bags
Cosmetic bags & gift bags Drawstring bags & backpacks Coffee cup bags & drink bags Jute bags
Purchases
International : China, India
Sales
Local : Yes
International : Directly from supplier to New Zealand
Property & Assets
Premises : The Subject operates from premises located at the verified heading address consisting of administrative office and warehouse.
Branches : None reported.
SUMMARIZED COUNTRY RISK
Gross Domestic
Products (GDP) & Economic Overview
Central bank : Reserve Bank of Australia
Reserve of foreign exchange & gold : US$ 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 days
Sales Term
Local : Prepayment, Bank transfer, Cash, Credit
up to 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.49.14 |
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1 |
Rs.77.58 |
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Euro |
1 |
Rs.67.58 |
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.