MIRA INFORM REPORT
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Report Date : |
02.04.2012 |
IDENTIFICATION DETAILS
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Name : |
PACIFIC HOISTS PTY LTD |
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Formerly Known As : |
RELDA INVESTMENTS PTY LTD |
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Registered Office : |
C/O Priestley & Morris, Level 7, 3 Horwood Place, Parramatta, New South Wales, Zip/Postal Code 2150 |
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Country : |
Australia |
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Date of Incorporation : |
27.06.1968 |
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Com. Reg. No.: |
000631032 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Import & distribution of lifting and material
handling products |
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No. of Employees : |
30 |
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 500,000 |
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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 30th, 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 |
Verified Address
Subject name : PACIFIC HOISTS PTY LTD
Business address : 24 Foundry Road
Town : Seven Hills
Province : New South Wales
Zip/postal code : 2147
Country : Australia
Tel : +61 2 88256900
Fax : +61 2 88256999
Website : www.pacifichoists.com.au
Registered address : C/O PRIESTLEY & MORRIS
Level 7, 3 Horwood Place
Town : Parramatta
Province : New South Wales
Zip/postal code : 2150
Country : Australia
Executive Summary
Date founded or registered : 27/06/1968
Legal form : Australian
Proprietary Company
Chief executive : Richard Crake
Issued & paid up capital
: AUD 157
Sales turnover : AUD 12,000,000 (Estimated
Non-consolidated 12 months, 30/06/2011)
Line of business : Import & distribution
of lifting and material handling products.
Staff employed : 30 employees
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 good
Organization structure : Organizational structure is stable
Detrimental : No detrimental records found
Payment history : No payment delays noted
Credit amount suggestion : USD 500,000
Credit amount asked : USD 500,000
Statutory details
Registry Data
Registration date : 27/06/1968
Legal form : Australian
Proprietary Company
Registration no Australian Company Number:
000631032
Registered authority : Australian Securities and Investments
Commission
Fiscal/ Tax no : Australian Business Number:
88000631032
Registry status : Live/Active
Previous name : RELDA INVESTMENTS PTY LTD (initial)
Change of legal form : None reported.
Key Management
Name : Richard Crake
Designation : Managing Director
Name : Richard Lawson
Designation : Corporate Accounts Manager
Name : Barry Webster
Designation : Sales Manager
BOARD OF DIRECTORS/ OTHER
APPOINTMENTS
Appointments
Name : Richard Crake
Designation : Director
Appointment date : 26/08/05
Address : 9 Lynwood Place
Castle
Hill, NSW 2154
Australia
Biography : Born on 01-05-1959 in the
United Kingdom.
Richard Crake is the Chief Executive Officer of Pacific Hoists since 2005. Richard Crake has worked 18 years with Unilever companies in the UK, France and Australia.
Name : Graham Scott
Designation : Director
Appointment date : 17/09/08
Address : 27 Alexandra Circuit
Alexandra
Hills, QLD 4161
Australia
Biography : Born on 02-07-1954 in
Tapanui, New Zealand.
Name : Karen Herbert
Designation : Director and Company Secretary
Appointment date : 08/12/09
Address : 24 Blacks Road
Arcadia,
NSW 2159
Australia
Biography : Born on 29-03-1958 in
Camperdown, New South Wales, Australia.
Name : Patricia
Ann Sutton
Designation : Director
Appointment date : 08/12/09
Address : 3 Jadchalm Street
West Pennant Hills,
NSW 2125
Australia
Biography : Born on 03-12-1946 in Southall, United Kingdom.
Staff employed : 30 employees
Composition
Authorized Capital : AUD 157
No of shares : 151 Ordinary Shares / 6 Second
Redeemable Particpating Preference Shares
Share par value : AUD 1
Issued capital : AUD 157
Paid up capital : AUD
157
How listed : Full List
Composition
Shareholder name : MOUNTAIN SEA PTY. LTD.
Address : 24 Blacks Road
Arcadia,
NSW 2159
Australia
No. of shares : 6 Ordinary Shares / 3 Second
Redeemable Particpating Preference Shares
Shareholder name : MAYDENE PTY LTD
Address : 46 Grandview Crescent
Killcare,
NSW 2257
Australia
No. of shares : 75 Ordinary Shares / 3 Second Redeemable Particpating Preference Shares
Structure
Name : MOUNTAIN SEA PTY. LTD.
Affiliation type : Parent Company
Address : 24 Blacks Road
Arcadia,
NSW 2159, Australia
Name : MAYDENE PTY LTD
Affiliation type :
Shareholder
Address : 46 Grandview Crescent
Killcare
NSW 2257
Australia
Name : PACIFIC HOISTS LIMITED
Affiliation type :
Wholly-owned Subsidiary
Address : 11 Druces Road
Manukau City, Auckland 2104
New Zealand
Name : PACIFIC
HOISTS INDENT PTY LTD
Affiliation type : Wholly-owned
Subsidiary
Address : 24 Foundry Road
Seven Hills, NSW 2147
Australia
Name : SAFEPOUR
PTY LTD
Affiliation type : Associate
Address : 24 Foundry Road
Seven Hills, NSW 2147
Australia
Bank Details
Name of bank : National Australia Bank 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
Charge Details:
ASIC Charge Number: 4373
Date Registered: 10-02-1981
Date Created: 23-01-1981
Chargees Name: WESTPAC
BANKING CORPORATION
ASIC Charge Number: 4421
Date Registered: 21-07-1978
Date Created: 07-07-1978
Chargees Name: KENT
(AUSTRALIA) PTY LTD, S.H. LOCK ACCEPTANCES
LIMITED, HELLER EQUIPMENT
FINANCE PTY LTD, S H LOCK & CO LIMITED,
S H LOCK (N.Z.) LIMITED &
S.H. LOCK (NEW YORK) INC.
ASIC Charge Number: 4446
Date Registered: 27-08-1986
Charge type: Both Fixed &
Floating
Date Created: 21-08-1986
Chargees Name: 1925 ADVANCES
PTY LIMITED
ASIC Charge Number: 378129
Date Registered: 12-03-1993
Charge type: Both Fixed &
Floating
Date Created: 28-01-1993
Chargees Name: NATIONAL
AUSTRALIA BANK LIMITED
Legal Fillings
Bankruptcy fillings : None reported.
Court judgements : None reported.
Tax liens : None reported.
Others : None reported.
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
30-03-2012
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 : 12,000,000
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 $12.5 million, and
-The company and any entities
it controls have fewer than 50 employees at the end of the financial year
Main activities : The Subject is engaged in the import & distribution of lifting and material handling products.
The Subject offers its
products through a network of distributors throughout Australia, New Zealand,
Papua New Guinea, and the Pacific Islands.
The Subject's head office and
main warehouse is located at Seven Hills.
The Subject also has
warehouses and offices in Brisbane, Perth and Auckland.
Product & services :
Winches, hoists, balancers, chainblocks, clamps and beams, skates and rollers,
and trolleys
Brand : Hitachi, J.D.
Neuhaus, Vital, Inter Product, Akapp, Pacific Hoists, Merton, Kromer and Comeup
Purchases
International : Japan, Netherlands, Taiwan, China, Europe
Sales
Local : Yes
International : New Zealand, Papua New Guinea, and the
Pacific Islands
Property &
Assets
Premises : The Subject operates from head office
located at the verified heading address consisting of administrative office and
warehouse.
Branches : In addition, the Subject operates from
branch offices located at:
Unit 1, 31
Colin Jamieson Drive
Welshpool,
WA 6106
Australia
Tel: +61 8
62531000
Unit 5, 54
Nealdon Drive
Meadowbrook,
QLD 4131
Australia
Tel: +61 7 31703800
Central bank : Reserve Bank of Australia
Reserve of foreign exchange & gold : US$ 43.879 billion
Gross domestic product – GDP : US$ 1.448 trillion
GPP (Purchasing power parity) : 918.529 billion of International dollars
GDP per capita - current prices : US$ 64,351
GDP - composition by sector : agriculture: 4.1% industry: 26% services: 70%
Inflation : 2008: 4.4%
2009: 1.8%
2010: 2.8%
2011: 3.0%
Unemployment rate 2008: 4.2 %
2009: 5.6 %
2010:5.2 %
2011: 5.0%
Public debt
(General Government gross
debt as a % GDP) 2008: 11.6%
2009: 17.6%
2010: 22.3 %
2011: 24.1%
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 :
Westpac Banking Group (Major Banks),
BHP Billiton (Diversified Metals & Mining), Commonwealth Bank (Major
Banks), National Australia Bank (Major Banks), ANZ Banking (Major Banks),
Telstra (Telecommunications services), Wesfarmers (Food Retail)
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 2008: US$46,722 million
2009: US$22,572 million
2010: US$32,472 million
FDI Outflows 2008: US$32,819 million
2009: US$18,426 million
2010: US$26,431 million
Best countries for doing business : 10
out of 183 countries
Global competitiveness ranking : 20
(ranking by country on a basis of 142, 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
: 76.00%
Purchase Term
International : L/C, Telegraphic transfer,
Document against payment, Credit 30-90 days
Sales Term
Local : Prepayment, Document
against payment, Credit 30-90 days
International : L/C, Telegraphic transfer,
Document against payment, Credit 30-90 days
Trade Reference/
Payment Behaviour
Comments : As local and international
trade references were not supplied, the Subject's ayment 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.51.16 |
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UK Pound |
1 |
Rs.81.72 |
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Euro |
1 |
Rs.68.34 |
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.