MIRA INFORM REPORT
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Report Date : |
10.08.2012 |
IDENTIFICATION DETAILS
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Name : |
QUEENSLAND TOOL & MACHINERY DISTRIBUTORS
PTY. LTD. |
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Formerly Known As : |
STONEMERE PTY. LTD. |
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Registered Office : |
C/O Franich Crow Oberg, Suite B, Level 4, 52 Davenport Street, Southport, Queensland, Zip/Postal Code 4215 |
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Country : |
Australia |
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Financials (as on) : |
30.09.2011 |
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Date of Incorporation : |
10.10.1985 |
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Com. Reg. No.: |
010602687 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Importers and distributors
of hand tools, air tools and automotive products |
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No. of Employees : |
10 employees |
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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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 : QUEENSLAND TOOL & MACHINERY
DISTRIBUTORS PTY. LTD.
Business address : 21 Keller Crescent
Town : Carrara
Province : Queensland
Zip/postal code : 4211
Country : Australia
Tel : +61 7 55307066
Fax : +61 7 55307350
Website : www.fragram.com
Registered address : C/o FRANICH CROW OBERG
Suite B,
Level 4
52
Davenport Street
Town : Southport
Province : Queensland
Zip/postal code : 4215
Country : Australia
Postal address : P.O. Box 2160
Town : Nerang East
Province : Queensland
Zip/postal code : 4211
Country : Australia
Executive Summary
Date founded or registered : 10/10/1985
Legal form : Australian
Proprietary Company
Chief executive : Alan Conway Vacy-Lyle
Issued & paid up capital
: AUD 1,100,000
Sales turnover : USD 196,391,000 (Group Consolidated
12 months, 30/09/2011)
Net income : USD 7,433,000
(Group Consolidated 12 months, 30/09/2011)
Total fixed assets : USD 129,397,000 (Group
Consolidated 12 months, 30/09/2011)
Line of business : Importers and distributors
of hand tools, air tools and automotive products.
Staff employed : 10 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 : 10/10/1985
Legal form : Australian
Proprietary Company
Registration no Australian Company
Number: 010602687
Registered authority : Australian Securities &
Investments Commission
Fiscal/ Tax no : Australian Business
Number: 11010602687
Registry status : Live/Active
Previous name : STONEMERE PTY. LTD.
(initial)
Change of legal form : None reported.
Key Management
Name : Alan Conway Vacy-Lyle
Designation : Managing Director
Name : Jane Diulio
Designation : Store Manager
Name : Alan Foran
Designation : Sales Manager
Appointments
Name : Alan Conway Vacy-Lyle
Designation : Director and Company Secretary
Appointment date : 01/10/86
Address : Unit 1, 12 Handel Avenue
Worongary,
QLD 4213
Australia
Biography : Born on 01/05/1956 in Durban,
South Africa.
Name : Grant Vacy-Lyle
Designation : Director
Appointment date : 16/07/01
Address : 25 City Road
London
EC1Y 1AA
United
Kingdom
Biography : Born on 17/02/1960 in Durban,
South Africa.
Staff employed : 10 employees
Composition
Authorized Capital : AUD 1,100,000
No of shares : 1,100,000 Ordinary Shares
Share par value : AUD 1
Issued capital : AUD 1,100,000
Paid up capital : AUD 1,100,000
How listed : Full List
Composition
Shareholder name : MARSHALL MONTEAGLE PLC
Address : IFG House, 15 Union Street
St Helier,
Jersey JE1 1FG
Channel
Islands
No. of shares : 550,001 Ordinary Shares
Shareholder name : Jointly held by John Jay Franich, Alan
Conway Vacy-Lyle & Gail Marion Vacy-Lyle
Address : John Jay Franich
7 Surch
Court
Southport,
QLD 4215
Australia
Alan
Conway Vacy-Lyle & Gail Marion Vacy-Lyle
Unit 1, 12
Handel Avenue
Worongary,
QLD 4213
Australia
No. of shares : 549,999 Ordinary Shares
Structure
Name : MARSHALL MONTEAGLE PLC
Affiliation type : Parent Company
Address : IFG House, 15 Union Street
St Helier,
Jersey JE1 1FG
Channel
Islands
Comments : Marshall Monteagle PLC through
its subsidiaries, engages in the import and
distribution of hand tools,
machinery, non-perishable food products, and coffee
roasting products. It also offers consultancy and management services. The
company provides its procurement, supply
chain, and risk management services
to retailers, wholesalers, and manufacturers
primarily in southern and central
Africa, Indian Ocean Islands, and Australia. In
addition, it also owns a commercial
property in the United States; and owns and
manages multi-tenanted rent
producing properties in South Africa. Marshall
Monteagle PLC was formerly
known as Marshall Monteagle Holdings SA and
changed its name in February,
2011.
The company was founded in 1982 and is based in St. Helier, Channel
Islands.
Name : QTM
PROPERTY HOLDINGS PTY LTD
Affiliation type : Sister Company
Address : 21 Keller Crescent
Carrara, QLD 4211
Australia
Comments : Property holding.
Name : L
& G TOOL AND MACHINERY DISTRIBUTORS LIMITED
Affiliation type : Sister Company
Address : 6 Kyalami Road
Westmead, Pinetown,
3610
KwaZulu Natal
South Africa
Comments : Importer and distributor of hand tools and
machinery.
Name : SHANGHAI
TOOL EXPORTS CORPORATION LIMITED
Affiliation type : Sister Company
Address : IFG House, 15 Union Street
St Helier, Jersey JE1
1FG
Channel Islands
Comments : Incorporated in Jersey and operating
internationally.
Name : FRAGRAM
TOOLS AUSTRALIA PTY LTD
Affiliation type : Associate
Address 21
Keller Crescent
Carrara, QLD 4211
Australia
Related
companies and corporate affiliations comments
Other companies of the Monteagle Group
should be considered affiliates of the Subject.
Bank Details
Name of bank : HSBC Bank 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
: Public Record Sources
Financial statement date : 30/09/11
Type of accounts : Full audited
Currency : US Dollar (USD)
Consolidation type : Group Consolidated Group Consolidated
Currency : US Dollar (USD) US Dollar (USD)
Denomination : (x1) One (x1) One
Date of financial year end : 30/09/11 30/09/10
Length of accounts : 12 months 12 months
Sale turnover / Income : 196,391,000
163,870,000
Operating profit : 10,703,000 9,810,000
Profit before tax : 10,145,000 7,623,000
Net income : 7,433,000 4,945,000
Non current assets : 57,265,000 59,017,000
Current assets : 72,132,000 68,694,000
Inventories : 25,521,000 26,393,000
Total assets : 129,397,000 127,711,000
Current liabilities : 43,380,000 43,259,000
Non current liabilities : 14,347,000 13,711,000
Total liabilities : 57,727,000 56,970,000
Share equity : 71,670,000 70,741,000
Retained earning : 26,422,000 19,659,000
Comments : The group’s consolidated
financial information above relates to the Subject’s
Parent /
Ultimate Holding Company Marshall Monteagle PLC and all its
subsidiaries
which include the Subject.
Main activities : The Subject is engaged as an importer and distributor of hand tools, air
tools and automotive products.
Brand : PUMA
FRAGRAM
Purchases
International :China, Taiwan, South Africa, United States
Sales
Local : Yes
International : New Zealand
Property &
Assets
Premises : The Subject operates from
premises located at the verified heading
address consisting of an administrative office, retail store and
warehouse.
Branches : None reported.
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, Telegraphic
transfer, Credit 30-90 days
Sales Term
Local : Prepayment, Cash, 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.55.17 |
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UK Pound |
1 |
Rs.86.43 |
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Euro |
1 |
Rs.68.27 |
INFORMATION DETAILS
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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.