|
Report Date : |
09.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
COMPOSITE
MATERIALS ENGINEERING PTY. LTD. |
|
|
|
|
Registered Office : |
29
Stud Road, Bayswater, Victoria 3153 |
|
|
|
|
Country : |
Australia |
|
|
|
|
Date of Incorporation : |
19.12.1988 |
|
|
|
|
Legal Form : |
Australian
Proprietary Company |
|
|
|
|
Line of Business : |
Formulate, manufacture and compression mould long glass
fiber composite materials. |
|
|
|
|
No. of Employees : |
50 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
Verified Address
Subject
name : COMPOSITE MATERIALS
ENGINEERING PTY. LTD.
Business
address : 29 Stud Road
Town :
Bayswater
Province
: Victoria
Zip/postal
code : 3153
Country
: Australia
Tel : +61 3 87204999
Fax : +61 3 97206870
Website
: www.composite.com.au
Registered
address : 29 Stud Road
Town :
Bayswater
Province
: Victoria
Zip/postal
code : 3153
Country
: Australia
Executive Summary
Date
founded or registered : 19/12/1988
Legal
form : Australian
Proprietary Company
Chief
executive : Brian
Joseph Hughes
Issued
& paid up capital : AUD
31,032
Line of business : Formulate,
manufacture and compression mould long glass fiber composite materials.
Staff
employed : 50
employees
Credit Risk Interpretation
Credit
risk rating : MODEST
Credit risk theory : Sufficient
operational base. Small credits may be considered with some confidence that
commitments will be sustained under normal circumstances. This is based on
criterions such as years of establishment, number of employees and others. A
cautious credit control policy applies.
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 undetermined
Organisation
structure : Organisational
structure is stable
Detrimental
: No
detrimental records found
Payment
history : No
payment delays noted
Registry Data
Registration
date : 19/12/1988
Legal
form : Australian
Proprietary Company
Registration
no Australian Company Number : 007128289
Registered
authority : Australian
Securities and Investments Commission
Fiscal/
Tax no : Australian
Business Number: 23007128289
Registry
status : Live/Active
Previous
name : 321ST
P. & C. NOMINEES PTY. LTD. (initial)
Change
of legal form : None
reported.
Key Management
Name :
Brian
Joseph Hughes
Designation
: Managing
Director
Appointments
Name :
Brian
Joseph Hughes
Designation
: Director and
Company Secretary
Appointment
date : 14/03/89
Address
: 2
Williamson Avenue
Strathmore, VIC 3041
Australia
Biography
: Born on
28/10/1957 in Kyneton, Victoria, Australia.
Staff
employed : 50
employees
Composition
Authorized
Capital : AUD 31,032
No of shares : 10
A Class Ordinary Shares / 10 B Class Ordinary Shares / 10 C Class Ordinary
Shares
/ 31,002 Ordinary Shares
Share
par value : AUD 1
Issued
capital : AUD
31,032
Paid
up capital : AUD
31,032
How
listed : Full
List
Composition
Shareholder
name : WILLIAMSON
HUGHES PTY. LTD.
Address
: 2
Williamson Avenue
Strathmore, VIC 3041
Australia
No. of shares : 10
A Class Ordinary Shares / 10 B Class Ordinary Shares / 10 C Class Ordinary Shares
/ 31,002 Ordinary Shares % of shares : 100%
Structure
Name :
WILLIAMSON
HUGHES PTY. LTD.
Affiliation
type : Parent
Company
Address
: 2 Williamson
Avenue
Strathmore, VIC 3041
Australia
Name :
BARRINGTON
ROOF TILES PTY LTD
Affiliation
type : Sister
Company
Address
: 29 Stud
Road
Bayswater, VIC 3153
Australia
Bank Details
Name
of bank : National
Australia Bank
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
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 $12.5 million, and
-The
company and any entities it controls have fewer than 50 employees at the
end of
the financial year.
Main activities : The
Subject formulate, manufacture and compression mould long glass fiber composite
materials for the automotive, building and construction, food processing,
electrical, electronic and telecommunications applications.
Product
& services : Automotive Industry
-Wheel tubs
-Under body noise shields
-Seat frames
-Battery trays
-Load floors
-Body panels
-Under engine covers
-Reinforcement beams
Building and Construction
-Roof tiles
-Shower bases
-Computer access flooring systems
-Exterior door panels
Food Processing
-Starch trays
-Storage and container systems
Electrical, Electronic and Telecommunications Applications
-Enclosures
-Switchgear components
-Circuit boards
-Busbar support insulators
-Antenna ‘radomes’ or shrouds
-Insulating panels
Brand
: AKRIL
BARRINGTON
CME COATINGS
Purchases
International
: Asia, Europe
Sales
Local
: Yes
International
: Asia, Europe
Property & Assets
Premises
: The Subject operates from premises located at the verified heading address
consisting of administrative office.
Branches
: In addition, the Subject operates from a production facilities and warehouse
located
at:
1/37
Hosie Street
Bayswater,
VIC 3153
Australia
T: +61
3 97294999
Gross Domestic Products (GDP) &
Economic Overview
Central
bank : Reserve
Bank of Australia
Reserve
of foreign exchange & gold : US$
41.385 billion
Gross
domestic product - GDP : US$
1.235 trillion
GPP
(Purchasing power parity) : 918.529
billion of International dollars
GDP
per capita - current prices : US$ 55,590
GDP -
composition by sector : agriculture:
4.1%
industry: 26%
services: 70%
Inflation
: 2008:
4.4%
2009: 1.8%
2010: 2.8%
Unemployment
rate : 2008:
4.2%
2009: 5.6%
2010: 5.2%
Public
debt
(General
Government gross debt as
a %
GDP)
: 2008: 11.6%
2009: 17.6%
2010: 22.3%
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 : Commonwealth Bank (Banking), BHP Billiton (Materials),
Westpac Banking
Group (Banking), Rio Tinto (Materials), National Australia
Bank (Banking),
ANZ Banking (Banking), Telstra (Telecommunications)
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 : 2007:
US$45,477 million
2008: US$46,722 million
2009: US$22,572 million
FDI
Outflows : 2007:
US$16,822 million
2008: US$32,819 million
2009: US$18,426 million
Best
countries for doing business : 10 out of 183 countries
Global
competitiveness ranking : 16 (ranking by country on a basis of 133, 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
: 74.00%
Purchase Term
International
: Prepayment, L/C, D/P, Telegraphic
transfer, Credit 30-90 days
Sales Term
Local
: Prepayment,
D/P, Bank transfer, Credit 30-90 days
International
: Prepayment, L/C, D/P,
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.55.14 |
|
|
1 |
Rs.86.00 |
|
Euro |
1 |
Rs.68.31 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.