MIRA INFORM REPORT
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Report Date : |
01.08.2012 |
IDENTIFICATION DETAILS
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Name : |
PREMIER HIGHTECH PTY. LTD. |
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Registered Office : |
Unit 48, 7-9 Percy Street, Auburn,
New South Wales, Zip/postal code 2144 |
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Country : |
Australia |
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Date of Incorporation : |
31.08.2007 |
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Com. Reg. No.: |
127341020 |
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Legal Form : |
Australian Proprietary
Company |
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Line of Business : |
Sales of inkjet cartridges |
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No. of Employees : |
01 |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not recommended |
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Status : |
Under striking off process |
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Payment
Behaviour : |
--- |
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Litigation : |
--- |
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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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 : PREMIER HIGHTECH PTY.
LTD.
Other style / Business name :
CONSUMTECH
Business address : Unit 48, 7-9 Percy Street
Town : Auburn
Province : New South
Wales
Zip/postal code : 2144
Country : Australia
Tel : +61 2 97497708
Fax : +61 2 97497708
Email : info@consumtech.com.au
Website : www.consumtech.com.au
Registered address : Unit 48, 7-9 Percy Street
Town : Auburn
Province : New South Wales
Zip/postal code : 2144
Country : Australia
Comments : The representative
contacted Mr. Boming Geng advised that the Subject will
only be
operational until the end of 2012. He advised there are plans for the Subject
to be strike off as the business is facing difficulties. He further advised
that the Subject is in operations to only clear the balance stocks.
Executive Summary
Date founded or registered : 31/08/2007
Legal form : Australian
Proprietary Company
Chief executive : Boming Geng
Issued & paid up capital
: AUD 2
Line of business : Sales of inkjet
cartridges.
Staff employed : Directors are the only employees
Company Analysis
Country risk : Country risk is
minimal
Operation trend : Operational trend is
declining
Management experience : Management is inadequately experienced
Financial performance : Financial performance is
undetermined
Organization structure : Organizational structure is flawed
Detrimental : No
detrimental records found
Payment history : No payment delays noted
Registry Data
Registration date : 31/08/2007
Legal form : Australian
Proprietary Company
Registration no Australian Company
number: 127341020
Registered authority : Australian Securities and
Investments Commission
Fiscal/ Tax no : Australian Business
Number: 97127341020
Registry status : Live/Active
Previous name : None reported.
Change of legal form : None reported.
Key Management
Name : Boming Geng
Designation : Managing Director
Appointments
Name : Boming Geng
Designation : Director
Appointment date : 31/08/07
Address : Unit 8, 35 Dartbrook Road
Auburn,
NSW 2144
Australia
Biography : Born
on 26-08-1972 in Xian, China.
Name : Tom Hancock
Designation : Director
Appointment date : 31/08/07
Address : 58 Jamieson Way
Point
Cook, VIC 3030
Australia
Biography : Born on 18-10-1974 in
Ningxia, China.
Staff
employed : Directors are the
only 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 : Boming Geng
Address : Unit 8, 35 Dartbrook Road
Auburn,
NSW 2144
Australia
No. of shares : 1
Ordinary Share
% of shares : 50%
Shareholder name : Tom Hancock
Address : 58 Jamieson Way
Point
Cook, VIC 3030
Australia
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 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.
FINANCIAL DATA
Description
Comments : The representative contacted
Mr. Boming Geng advised that the Subject will only
be
operational until the end of 2012. He advised there are plans for the Subject
to be
strike off as the business is facing difficulties. He further advised that the
Subject is
in operations to only clear the balance stocks..
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 $12.5 million, and
-The company and any entities
it controls have fewer than 50 employees at the end of the financial year.
Main activities : The Subject
is engaged in sales of inkjet cartridges.
Purchases
Local : None reported.
International : None reported.
Sales
Local : Yes
International : No exports.
Property &
Assets
Premises : The Subject operates from premises
located at the verified heading address consisting of an
administrative
office and warehouse.
Branches : None reported.
Central bank : Reserve Bank of Australia
Reserve of foreign exchange & gold : US$ 43.879 billion
Gross domestic product – GDP : US$ 1.586 trillion
GPP (Purchasing power parity) : 954.296 billion of International dollars
GDP per capita - current prices : US$ 68,916
GDP - composition by sector : agriculture: 4.0% industry: 25.6% services: 70.4%
Inflation :
2009: 1.8%
2010: 2.8%
2011: 3.4%
Unemployment rate
2009: 5.6 %
2010: 5.2 %
2011: 5.1%
Public debt
(General Government gross
debt as a % GDP)
2009: 16.9%
2010: 20.4 %
2011: 22.9 %
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$46,843 million
2009: US$25,716 million
2010: US$32,472 million
FDI Outflows : 2008:
US$33,604 million
2009: US$16,160 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%
Sales Term
Local : Prepayment, Cash, Bank transfer
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.55.81 |
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UK Pound |
1 |
Rs.87.67 |
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Euro |
1 |
Rs.68.45 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.