MIRA INFORM REPORT

 

 

Report Date :           

07.09.2011

 

IDENTIFICATION DETAILS

 

Name :

LEMPRIERE (AUSTRALIA) PROPRIETARY LIMITED

 

 

Registered Office :

C/O Pitcher Partners Level 19, 15 William Street, Melbourne, Victoria, Zip/Postal Code 3000

 

 

Country :

Australia

 

                                   

Date of Incorporation :

30.08.1957

 

 

Com. Reg. No.:

004386841

 

 

Legal Form :

Australian Proprietary Company

 

 

Line of Business :

supplier 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

 

Maximum Credit Limit :

USD 170,000

 

 

Status :

Moderate

 

 

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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

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  Bottom of Form

 

 

Verified Address

 

Subject name    :           LEMPRIERE (AUSTRALIA) PROPRIETARY LIMITED

Business address          Level 7, 460 Collins Street

Town                             Melbourne

Province                        Victoria

Zip/postal code              3000

Country                         Australia

Tel                                +61 3 86256500

Fax                               +61 3 96716471

Email                            wool@lempriere.com.au 

Website            :           www.lempriere.com.au

Registered address        C/o PITCHER PARTNERS Level 19

15 William Street

Town                             Melbourne

Province                        Victoria

Zip/postal code              3000

Country           :                                               Australia

 

 

Summary details

 

Executive Summary

Date founded or registered          30/08/1957

Legal form                                 Australian Proprietary Company

Chief executive                          Michael John Davis

Issued & paid up capital             AUD 30,000

Line of business             Supplier of wool.

Staff employed                           35 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

Organisation structure                Organisational structure is stable

Detrimental                    No detrimental records found

Payment history            :                       No payment delays noted

Credit amount suggestion     USD 170,000

Credit amount asked                  Not described.

Comments        It is advisable to conduct business dealing on prepayment or L/C for larger credit transaction than suggested. Although the Subject seems well positioned in the market and financially stable as the Subject is part of a well organized group however without official financial information it would be difficult to grant a large credit amount. Our suggestion of credit is based on years of establishment, nature of business and group background.

 

 

Statutory details

 

Registry Data

 

Registration date                                   30/08/1957

 

Legal form                                            Australian Proprietary Company

 

Registration no                                      Australian Company Number: 004386841

 

Registered authority                              Australian Securities & Investments Commission

 

Fiscal/ Tax no                                       Australian Business Number: 27004386841

 

Registry status                                     Live/Active

 

Previous name                                       LEMPRIERE (VICTORIA) PROPRIETARY LIMITED

LEMPRIERE (VICTORIA) LIMITED (initial)

Change of legal form                                                                                   None reported.

 

 

Management / directors

 

Key Management

 

Name                            Michael John Davis

Designation                   Chief Executive Officer

 

Name                            Vishal Kapoor

Designation                   Chief Financial Officer

 

Name                            Luke Moon

Designation                            Group Accountant

 

 

Board of directors / other appointments

 

Appointments

 

Name                           :      William Dougall Lempriere

 

Designation                   :      Director

 

Appointment date          :      01/07/97

 

Address                        :      52 Mckinley Avenue

Malvern Victoria 3144, Australia

 

Biography          :           Born on 12-12-1967 in Melbourne, Victoria, Australia.

Staff employed   :           35 employees

 

Key Advisors

Auditors            :           PITCHER PARTNERS Level 19, 15 William Street Melbourne VIC 3000, Australia

 

 

Share capital

 

Composition

 

Authorized Capital                                 :   AUD 30,000

 

No of shares                                         :   15,000 Ordinary Shares

 

Share par value                                     :   AUD 2

 

Issued capital                                       :   AUD 30,000

 

Paid up capital                                                                                              :   AUD 30,000

 

 

Ownership / shareholders

 

How listed                     Full List

 

Composition

Shareholder name          BENWILL PTY. LTD

Address                        15 William Street

Melbourne, Victoria 3000

Australia

No. of shares                 8,921 Ordinary Shares

 

Shareholder name          MYARING NOMINEES PTY. LTD.

Address                        15 William Street

Melbourne, Victoria 3000

Australia

 

No. of shares                          6,079 Ordinary Shares

 

 

Related companies & corporate Affiliations

 

Structure

 

Name                LEMPRIERE HOLDINGS PROPRIETARY LIMITED

Affiliation type    Associate

Address            Australia

Comments        Under external administration.

 

Name                LEMPRIERE GRAIN PTY LTD

Affiliation type    Associate

Address            Australia

 

Name                LI TRADING PRIVATE LIMITED

Affiliation type    Associate

Address          India

 

Name                THE MERINO COMPANY PTY LTD

Affiliation type    Associate

Address            Australia

 

Name                LEMPRIERE (N.Z.) LIMITED

Affiliation type    Associate

Address            New Zealand

Comments        In liquidation.

 

Name                LEMPRIERE PTY LTD

Affiliation type    Associate

Address            Australia

 

Name                LEMPRIERE NOMINEES PROPRIETARY LIMITED

Affiliation type    Associate

Address            Australia

Comments :   Date deregistered: 22/05/2005

 

Name                LEMPRIERE INVESTMENTS PTY LTD

Affiliation type    Associate

Address          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                                   Satisfied charges:

 

ASIC Charge Number: 104099

Date Registered: 09-11-1988

Charge type: Both Fixed & Floating

Date Created: 25-10-1988

Chargee Name: BNP PARIBAS NOMINEES (AUSTRALIA) PTY LIMITED

 

ASIC Charge Number: 104274

Date Registered: 03-11-1980

Date Created: 16-10-1980

Chargee Name: AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED

 

ASIC Charge Number: 492547

Date Registered: 08-06-1995

Charge type: Both Fixed & Floating

Date Created: 25-05-1995

Chargee Name: BNP PARIBAS NOMINEES (AUSTRALIA) PTY LIMITED

 

ASIC Charge Number: 971836

Date Registered: 26-08-2003

Charge type: Both Fixed & Floating

Date Created: 31-07-2003

Chargee Name: ANZ FIDUCIARY SERVICES PTY LTD Unsatisfied charges:

 

ASIC Charge Number: 104153

Date Registered: 02-11-1979

Date Created: 29-10-1979

Chargee Name: ANZ FIDUCIARY SERVICES PTY LTD

 

ASIC Charge Number: 104208

Date Registered: 30-10-1980

Date Created: 16-10-1980

Chargee Name: ANZ FIDUCIARY SERVICES PTY LTD

 

ASIC Charge Number: 505802

Date Registered: 06-09-1995

Charge type: Both Fixed & Floating

Date Created: 01-09-1995

Chargee Name: ANZ FIDUCIARY SERVICES PTY LTD

 

ASIC Charge Number: 505804

Date Registered: 06-09-1995

Charge type: Both Fixed & Floating

Date Created: 01-09-1995

Chargee Name: AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED

 

ASIC Charge Number: 505805

Date Registered: 06-09-1995

Charge type: Both Fixed & Floating

Date Created: 01-09-1995

Chargee Name: ANZ FIDUCIARY SERVICES PTY LTD

 

ASIC Charge Number: 976030

Date Registered: 10-09-2003

Charge type: Both Fixed & Floating

Date Created: 31-07-2003

Chargee Name: ANZ FIDUCIARY SERVICES PTY LTD

 

ASIC Charge Number: 1450354

Date Registered: 07-05-2007

Charge type: Both Fixed & Floating

Date Created: 11-04-2007

Chargee Name: ANZ FIDUCIARY SERVICES PTY LTD

 

ASIC Charge Number: 1450359

Date Registered: 07-05-2007

Charge type: Both Fixed & Floating

Date Created: 11-04-2007

Chargee Name: ANZ FIDUCIARY SERVICES PTY LTD

 

 

Legal Fillings

Bankruptcy fillings          None reported.

Court judgements           None reported.

Tax liens                       None reported.

Others                          None reported.

 

Description

 

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 as supplier of wool.

 

Purchases

Local                Yes

International       Mainly from China and India

 

Sales

Local                Yes

International       Mainly to United States and Europe

 

Property & Assets

Premises          :   The Subject operates from premises located at the verified heading address consisting

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 Services)

 

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 up to 120 days

 

 

Sales Term

 

Local                                                    :   Prepayment, Credit up to 90 days

 

International                                          :   Prepayment, Credit up to 90 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.46.13

UK Pound

1

Rs.74.18

Euro

1

Rs.64.88

 

 

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.