MIRA INFORM REPORT

 

 

Report Date :

17.04.2012

 

IDENTIFICATION DETAILS

 

Name :

SHARCAVE PTY. LIMITED

 

 

Registered Office :

229 Pacific Highway Hornsby New South Wales 2077

 

 

Country :

Australia

 

 

Date of Incorporation :

19.11.1997

 

 

Com. Reg. No.:

080797495

 

 

Legal Form :

Australian Proprietary Company

 

 

Line of Business :

Manufacturing, installation & distribution of synthetic sports fields and athletics tracks.

 

 

No. of Employees :

32

 

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 280,000

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, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

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

 

Verified Address

Subject name :                          SHARCAVE PTY. LIMITED

Other style / Business name :     TEAM SPORTS

Business address :                    Units 1 & 2, 165 Prospect Highway

Town :                                       Seven Hills

Province :                                  New South Wales

Zip/postal code :                        2147

Country :                                   Australia

Tel :                                          +61 2 98384429

Fax :                                         +61 2 98384668

Email :                                      info@teamsports.com.au

Website :                                  www.teamsports.com.au

 

Registered address :                  229 Pacific Highway

Town :                                       Hornsby

Province :                                  New South Wales

Zip/postal code :                        2077

Country :                                   Australia

 

SUMMARY DETAILS

 

Executive Summary

Date founded or registered :        19/11/1997

Legal form :                               Australian Proprietary Company

Chief executive :                        John Gordon Curtis

Issued & paid up capital :           AUD 1

Sales turnover :                          AUD 12,000,000 (Estimated Non-consolidated 12 months, 30/06/2011)

Line of business :                       Manufacturing, installation & distribution of synthetic sports fields and athletics

tracks.

Staff employed :                                     32 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 fair

Organization structure :              Organizational structure is stable

Detrimental :                  No detrimental records found

Payment history :                      No payment delays noted

Credit amount suggestion :         USD 280,000

Credit amount asked :                USD 100,000

STATUTORY DETAILS

 

Registry Data

Registration date :                      19/11/1997

Legal form :                               Australian Proprietary Company

Registration no                          Australian Company Number: 080797495

Registered authority :                 Australian Securities and Investments Commission

Fiscal/ Tax no :                          Australian Business Number: 32080797495

Registry status :                                    Live/Active

Previous name :                                     None reported.

Change of legal form :                 None reported.

Other registration :                     TEAM SPORTS is a business name owned by the Subject registered on

23/04/2009 under business registration no: BN98424624.

 

MANAGEMENT / DIRECTORS

 

Key Management

Name :                          John Gordon Curtis

Designation :                 Managing Director

 

Name :                          Belinda Crane

Designation :                 General Manager

 

BOARD OF DIRECTORS/ OTHER APPOINTMENTS

 

Appointments

 

Name :                          John Gordon Curtis

Designation :                 Director and Company Secretary

Appointment date :         02/12/97

Address :                      50-52 Bower Street

Manly,NSW 2095

Australia

Biography :                    Born on 28-11-1955 in Manly, New South Wales, Australia.

Staff employed :                         32 employees

 

SHARE CAPITAL

 

Composition

Authorized Capital :        AUD 1

No of shares :                1 Ordinary Share

Share par value :            AUD 1

Issued capital :              AUD 1

Paid up capital :             AUD 1

 

OWNERSHIP / SHAREHOLDERS

 

How listed : Full List

 

Composition

Shareholder name :        John Gordon Curtis

Address :                      50-52 Bower Street

Manly, NSW 2095

Australia

No. of shares :               1 Ordinary Share

% of shares :                 100%

 

RELATED COMPANIES & CORPORATE AFFILIATIONS

 

Structure

Name :                          T.E.A.M SPORTS SURFACES LIMITED

Affiliation type :              Associate

Address :                      75 Ellice Road

Glenfield, Auckland 0745

New Zealand

 

BANK & MORTGAGES

 

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 :                   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 :    External Sources

Financial statement date :          30/06/11

Type of accounts :                     Estimated key figures

Currency : Australia Dollar          (AUD)

Exchange rate :                         1 USD = AUD 0.97 as of 16-04-2012

 

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.

 

OPERATION DETAILS

 

Main activities :              The Subject is engaged in manufacturing, installation & distribution of

synthetic sports fields and athletics tracks.

 

Purchases

International :                 India

 

Sales

Local :                          Yes

International :                 China, New Zealand, Hong Kong

 

Property & Assets

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

address consisting of production facilities, 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$ 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: 4.0%

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%

 

PAYMENT HISTORY

 

Purchase Term

International : Prepayment, Telegraphic transfer, Credit 30-90 days

 

Sales Term

Local : Prepayment, Bank transfer, Credit 30-90 days

International : Prepayment, Telegraphic transfer, Credit 30-90 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.51.66

UK Pound

1

Rs.81.79

Euro

1

Rs.67.18

 

 

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.