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MIRA INFORM REPORT
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Report Date : |
15.09.2011 |
IDENTIFICATION DETAILS
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Name : |
SOUTH PACIFIC FASTENERS (AUSTRALIA) PTY.
LIMITED |
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Registered Office : |
Unit
2, 85 Newton Road, Wetherill Park, New
South Wales, Zip/postal code 2164 |
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Country : |
Australia |
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Date of Incorporation : |
28.06.1989 |
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Com. Reg. No.: |
003833592 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Production, importation and distribution of building material mainly fasteners, adhesive, paint, sealants and tape |
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
140,000 |
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Status : |
Moderate |
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Payment
Behaviour : |
Regular |
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Litigation : |
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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
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Malaysia |
a2 |
a2 |
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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 : SOUTH PACIFIC FASTENERS (AUSTRALIA) PTY. LIMITED
Other style / Business name : SPF CONSTRUCTION PRODUCTS
Business
address : 39
Bentley Street
Town : Wetherill Park
Province : New South Wales
Zip/postal
code : 2164
Country : Australia
Tel : +61 2 97565333
Fax : +61 2 97565444
Email : sales@spf.net.au
Website : www.spf.net.au
Registered
address : Unit 2,
85 Newton Road
Town : Wetherill Park
Province : New South Wales
Zip/postal
code ` : 2164
Country : Australia
Summary details
Executive Summary
Date founded or registered : 28/06/1989
Legal form : Australian Proprietary Company
Chief executive : Mark Coleman
Issued & paid up capital : AUD 100
Sales turnover : AUD 4,000,000 (Estimated
Non-consolidated 12 months, 30/06/2011)
Line of business : Production, importation and distribution
of building material mainly fasteners, adhesive, paint, sealants and tapes.
Staff employed : 10 employees
Credit risk opinion
Company Analysis
Country risk : Country risk is minimal
Operation trend : Operational trend is steady
Management
experience : Management is adequately experienced
Financial
performance : Financial
performance is fair
Organisation
structure : Organisational
structure is stable
Detrimental records : No detrimental records found
Payment
history : No
payment delays noted
Credit
amount suggestion : USD 140,000
Credit
amount asked : Not described.
Statutory details
Registry Data
Registration date : 28/06/1989
Legal form : Australian Proprietary Company
Registration no : Australian Company Number: 003833592
Registered authority : Australian Securities & Investments Commission
Fiscal/ Tax no : Australian Business Number: 24003833592
Registry status : Live/Active
Previous name : None reported.
Change of legal form : None reported.
Management / directors
Key Management
Name : Mark
Coleman
Designation : Managing Director
Board of directors / other
appointments
Appointments
Name : Mark
Coleman
Designation : Director and Company Secretary
Appointment date : 03/08/95
Address : 7
Bayldon Place
Glenmore Park, NSW 2745
Australia
Biography : Born
on 24-12-1963 in Sydney, New South Wales, Australia.
Staff employed : 10 employees
Share capital
Composition
Authorized Capital : AUD 100
No of shares : 100 Ordinary Shares
Share par value : AUD 1
Issued capital : AUD 100
Paid up capital : AUD 100
ownership / shareholders
How listed : Full List
Composition
Shareholder name : Karlene Maree Coleman
Address : 7 Bayldon Place
Glenmore Park, NSW 2745
Australia
No. of shares : 55 Ordinary Shares
% of shares : 45%
Shareholder name : Mark Coleman
Address : 7 Bayldon Place
Glenmore Park, NSW 2745
Australia
No. of shares : 45 Ordinary Shares
% of shares : 55%
Related companies & corporate Affiliations
Structure
Related
companies and corporate affiliations comments : None Reported
Bank & mortgages
Bank Details
Name of bank : Westpac Banking Corporation 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: 615809
Date Registered: 29-10-1997
Charge type: Both Fixed & Floating
Date Created: 07-10-1997
Chargees Name: C.O.D. FACTORS AUSTRALIA PTY. LTD.
ASIC Charge Number: 878021
Date Registered: 23-07-2002
Charge type: Fixed
Date Created: 12-07-2002
Chargees Name: WESTPAC BANKING CORPORATION
ASIC Charge Number: 1009447
Date Registered: 07-01-2004
Charge type: Both Fixed & Floating
Date Created: 17-12-2003
Chargees Name: NATIONAL AUSTRALIA BANK LIMITED
ASIC Charge Number: 1454233
Date Registered: 17-05-2007
Charge type: Both Fixed & Floating
Date Created: 17-05-2007
ChargeesName: CASH RESOURCES AUSTRALIA PTY. LTD.
ASIC Charge Number: 1513701
Date Registered: 17-09-2007
Charge type: Both Fixed & Floating
Date Created: 10-09-2007
Chargees Name: BANK OF WESTERN AUSTRALIA LTD
Unsatisfied Charges:
ASIC Charge Number: 1931267
Date Registered: 19-02-2010
Charge type: Both Fixed & Floating
Date Created: 09-02-2010
Chargees Name: WESTPAC BANKING CORPORATION
Legal Fillings
Bankruptcy
fillings : None reported.
Court
judgements : None reported.
Tax
liens : None
reported.
Others : None reported.
financials
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 0.96 as of 20/09/2011
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 : 4,000,000
Comments : The estimated turnover was provided by
Mr. Mark Coleman.
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 $12.5
million, and
-The company and any entities it controls have fewer than 50
employees at
the end of the financial year.
Operation details
Main activities : The Subject is engaged in the
production, importation and distribution of building material mainly fasteners,
adhesive, paint, sealants and tapes.
Product & services : Access Panels
Adhesives, Sealants & Tapes
Plasterboard Fixing Screws
Fibre Cement Fixing Screws
Hebel Fixing Screws
Hex Head Self
Drilling Screws
Frame & Stud Fixing
Self Tapping Screws
Chipboard Screws
Collated Fasteners
Abrasives
Safety Equipment & Misc
Sarking,Tapes & More
Knives, Blades & Cutting Discs
Anchors & Masonry Fixings
Drill Bits & Accessories
Ring Shank Nails & Galvanised Clouts
Paints & Chalk
Brad Nails & Staples Window Packers Drive Pins
L-Bead & Angles
Rivets
Threaded Rod
Brand : Bostik Bremick Airco Flexovit
Dy-Mark Exafast
Purchases
International : Mainly China, Taiwan, United States,
South Africa
Sales
Local : Yes
International : No exports.
Property & Assets
Premises : The Subject operates from premises
located at the verified heading address consisting of production facilities,
warehouse and administrative office.
Branches : None reported.
Summarized country risk
Gross Domestic Products (GDP) & Economic
Overview
Central bank : Reserve Bank of Australia
Reserve of foreign exchange & gold : US$ 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 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 : Credit
30-60 days, Telegraphic transfer
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
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.47.81 |
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UK Pound |
1 |
Rs.75.16 |
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Euro |
1 |
Rs.65.11 |
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.