MIRA INFORM REPORT
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Report Date : |
25.04.2012 |
IDENTIFICATION DETAILS
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Name : |
INJECTRONICS AUSTRALIA PTY. LTD. |
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Formerly Known As : |
UTURA AUTO SERVICES (VIC.)
PTY. LIMITED |
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Registered Office : |
13 North Concourse, |
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Country : |
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Date of Incorporation : |
22.06.1983 |
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Com. Reg. No.: |
006171035 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Test, repair and remanufacturing of automotive electronic components and manufacturing and export of test equipment |
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No. of Employees : |
31 |
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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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 – 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 : INJECTRONICS AUSTRALIA PTY. LTD.
Business address :
Town : Hallam
Province :
Zip/postal code : 3803
Country :
Tel : +61 3 87926999
Fax : +61 3 87957205
Email : sales@injectronics.com.au
Website : www.injectronics.com.au
Registered address : 13 North Concourse
Town : Beaumaris
Province :
Zip/postal code : 3193
Country :
Executive Summary
Date founded or registered : 22/06/1983
Legal form : Australian
Proprietary Company
Chief executive : Rex Ian Vandenberg
Issued & paid up capital
: AUD 2
Sales turnover : AUD 6,000,000
(Estimated Non-consolidated 12 months, 30/06/2011)
Line of business : Test, repair and
remanufacturing of automotive electronic components and
manufacturing and export of test equipment.
Staff employed : 31 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 good
Organization structure : Organizational structure is stable
Detrimental : No detrimental records found
Payment history : No payment delays noted
Registry Data
Registration date : 22/06/1983
Legal form : Australian Proprietary Company
Registration no Australian Company Number:
006171035
Registered authority : Australian Securities and Investments
Commission
Fiscal/ Tax no : Australian Business Number:
79006171035
Registry status : Live/Active
Previous name : UTURA AUTO SERVICES (VIC.) PTY.
LIMITED
FIFTY-SEVENTH HARCOY PTY. LIMITED (initial)
Change of legal form : None reported.
Other registration : INJECTRONICS
is a business name owned by the Subject registered on 09/07/1991 under business
registration no: 1011308Z.
Key Management
Name : Rex Ian Vandenberg
Designation : Managing Director
Appointments
Name : Rex Ian Vandenberg
Designation : Director
Appointment date : 04/08/83
Address :
Narre
Warren North, VIC 3804
Biography : Born on 30-07-1959 in
Staff employed : 31 employees
Composition
Authorized Capital : AUD 2
No of shares : 2 Ordinary Shares
Share par value : AUD 1
Issued capital : AUD 2
Paid up capital : AUD
2
How listed : Full List
Composition
Shareholder name : Elaine Vandenberg
Address :
Narre
Warren North, VIC 3804
No. of shares : 1 Ordinary Share
% of shares : 50%
Shareholder name : Rex Ian Vandenberg
Address :
Narre Warren North, VIC 3804
No. of shares : 1 Ordinary Share
% of shares : 50%
Structure
Related companies and
corporate affiliations comments :
None reported.
Bank Details
Name of bank : Commonwealth Bank of
Address :
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
: 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
25-04-2012
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 : 6,000,000
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 $12.5 million, and
-The company and any entities it controls have fewer than 50 employees at the end of the financial year.
Main activities : The Subject is engaged in testing,
repair and remanufacturing of automotive electronic
components and manufacturing and export of test equipment.
Subject's clients are mainly
automotive component suppliers and resellers in Australia & New Zealand.
Product & services :
ABS Modules
Air Flow Meters
Air Mass Meters
Body Control Modules
Climate Control Modules
Crank Angle Sensors
Cruise Control Modules
Electronic Control Modules
Electronic Throttle Bodies
Idle Controls
Ignition Coils
Ignition Modules
Instrument Display
V.A.S. Tester
Automotive electronic
diagnostic test equipment
Brand : RAE
DAT equipment
Purchases
International : Asian countries
Sales
Local : Yes
International : New Zealand, USA, Germany, Netherlands,
United Kingdom, France, China, Africa, Mexico, South America
Key events : 2011
Injectronics receives Silver
award for excellence in manufacturing At the prestigious AAAA (Australian
Automotive Aftermarket association) awards for industry dinner, held at the
grand Hyatt Melbourne, attended by over 800 industry members. Injectronics were
awarded the silver award for “Excellence in manufacturing”.
This award recognises the position and standing of Injectronics in
the aftermarket industry, and the dedication to providing quality products
through the manufacturing process, resulting in value for money for consumers.
Property &
Assets
Premises : The Subject
operates from premises located at the verified heading address consisting of
production facilities,
warehouse and administrative office.
Branches : None reported.
Central bank : Reserve Bank of Australia
Reserve of foreign exchange & gold : US$ 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%
Purchase Term
International : Prepayment, Bank 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.52.49 |
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UK Pound |
1 |
Rs.84.66 |
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Euro |
1 |
Rs.69.25 |
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.