MIRA INFORM REPORT
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Report Date : |
18.04.2012 |
IDENTIFICATION DETAILS
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Name : |
SUNRISE CARPET INDUSTRIES PTY. LTD. |
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Formerly Known As : |
NORMAN ELLISON CARPETS (MANUFACTURING) PTY. LTD |
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Registered Office : |
Level 6, |
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Country : |
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Date of Incorporation : |
12.11.1991 |
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Com. Reg. No.: |
054273880 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Manufacturer and distributor of carpets and rugs |
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No. of Employees : |
20 |
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 200,000 |
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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 – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 : SUNRISE CARPET INDUSTRIES PTY. LTD.
Business address : Unit 2,
Town : Dandenong South
Province :
Zip/postal code : 3175
Country :
Tel : +61 3 97946800
Fax : +61 3 97929710
Registered address : Level 6,
Town :
Province :
Zip/postal code : 3004
Country :
Postal address :
Town : Doveton
Province :
Zip/postal code :
3177
Country :
SUMMARY DETAILS
Executive Summary
Date founded or registered : 12/11/1991
Legal form : Australian
Proprietary Company
Chief executive : John William Lillyston
Issued & paid up capital
: AUD 300
Sales turnover : AUD
4,500,000 (Estimated Non-consolidated 12 months, 30/06/2011)
Line of business : Manufacturer and distributor
of carpets and rugs.
Staff employed : 20 employees
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 200,000
Credit amount asked : USD 200,000
Registry Data
Registration date : 12/11/1991
Legal form : Australian Proprietary Company
Registration no Australian Company Number:
054273880
Registered authority : Australian Securities and Investments Commission
Fiscal/ Tax no : Australian Business Number:
12054273880
Registry status : Live/Active
Previous name : NORMAN
ELLISON CARPETS (MANUFACTURING) PTY. LTD.
A.C.N. 054 273 880 PTY LTD (initial)
Change of legal form : None reported.
Key Management
Name : John William Lillyston
Designation : Managing Director
Appointments
Name : John William Lillyston
Designation : Director and Company Secretary
Appointment date : 17/01/00
Address : Unit 3,
Murrumbeena,
VIC 3163
Biography : Born on 07-12-1943 in
Staff employed : 20 employees
Composition
Authorized Capital : AUD 300
No of shares : 300
Ordinary Shares
Share par value : AUD 1
Issued capital : AUD 300
Paid up capital : AUD 300
How listed : Full List
Composition
Shareholder name : HAILOS PTY. LTD.
Address : Level 6, 468 St. Kilda Road
Melbourne,
VIC 3004
Australia
No. of shares : 300 Ordinary Shares
% of
shares : 100%
Structure
Name : HAILOS PTY. LTD.
Affiliation type : Parent Company
Address : Level 6, 468 St. Kilda Road
Melbourne,
VIC 3004
Australia
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.
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 0.97 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
Comments : The estimated turnover was
provided by Mr. John William Lillyston. 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 $12.5 million, and
-The company and any entities it controls
have fewer than 50 employees at the end of the financial year.
Main activities : The Subject is engaged as manufacturer and
distributor of carpets and rugs.
Purchases
International : India
Sales
Local : Yes
International : None reported.
Property &
Assets
Premises : The Subject operates from
premises located at the verified heading address consisting of
administrative office and warehouse.
Branches : None reported.
Central bank : Reserve Bank of Australia
Reserve of foreign exchange & gold : US$ 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 : Prepayment, Telegraphic transfer, Credit
30-90 days
Sales Term
Local : Prepayment, Bank 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.51.62 |
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UK Pound |
1 |
Rs.81.94 |
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Euro |
1 |
Rs.67.65 |
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.