MIRA INFORM REPORT
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Report Date : |
23.08.2012 |
IDENTIFICATION DETAILS
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Name : |
BCSY V-NET PTY LTD |
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Registered Office : |
Suite 166, 9
Crofts Avenue, Hurstville, New South Wales, Zip/postal code 2220 |
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Country : |
Australia |
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Date of Incorporation : |
17.05.2000 |
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Com. Reg. No.: |
092894221 |
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Legal Form : |
Australian
Proprietary Company |
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Line of Business : |
Import &
distribution of IT products |
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No. of Employees : |
07 employees |
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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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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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 :
BCSY V-NET PTY LTD
Business
address : Unit 53, 7-9 Percy Street
Town : Auburn
Province : New South Wales
Zip/postal
code : 2144
Country : Australia
Tel : +61 2 87993888
Fax : +61 2 87993899
Email : sales@bronet.com.au
Website : www.bronet.biz
Registered
address : Suite 166, 9 Crofts Avenue
Town : Hurstville
Province : New South Wales
Zip/postal
code : 2220
Country : Australia
Executive Summary
Date founded
or registered : 17/05/2000
Legal form : Australian
Proprietary Company
Chief
executive : Ching-Hui
Chiang
Issued &
paid up capital : AUD 1
Sales turnover
: AUD 3,500,000
(Estimated Non-consolidated 12 months, 30/06/2011)
Line of
business : Import
& distribution of IT products.
Staff employed
: 7 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
Registry Data
Registration date : 17/05/2000
Legal form : Australian Proprietary Company
Registration
no Australian Company Number:
092894221
Registered
authority : Australian Securities and
Investments Commission
Fiscal/ Tax no
: Australian
Business Number: 90092894221
Registry
status : Live/Active
Previous name
: None reported.
Change of
legal form : None reported.
Key Management
Name : Ching-Hui Chiang
Designation : Managing Director
Name : Jay Bor
Designation : Manager
Appointments
Name : Ching-Hui Chiang
Designation : Director and Company Secretary
Appointment
date : 18/05/00
Address : Suite 166, 9 Crofts Avenue
Hurstville, NSW 2220
Australia
Biography : Born on 07-02-1968 in Taipei,
Taiwan.
Staff employed
: 7 employees
Composition
Authorized
Capital : AUD 1
No of shares :
1 Ordinary Share
Share par
value : AUD 1
Issued capital
: AUD 1
Paid up capital : AUD
1
How listed : Full List
Composition
Shareholder
name : Ching-Hui Chiang
Address : Suite 166, 9 Crofts Avenue
Hurstville, NSW 2220
Australia
No. of shares
: 1 Ordinary Share
% of shares : 100%
Structure
Related
companies and corporate affiliations comments: None
reported.
Bank Details
Name of bank : Australia And New Zealand Banking
Group Limited
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 0.96
as of 22-08-2012
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 : 3,500,000
Comments : The estimated turnover was
provided by Mr. Jay Bor.
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 $12.5 million, and
-The company and any entities it controls have fewer than 50 employees at the end of the financial year.
Main
activities : The
Subject engages in import & distribution of IT products.
Product & services :
· Computer hardware and accessories
· Cables & Connectors
· Computer Software
· Computer storage devices
· Wireless switch, router and adapter
· IPhone/iPAD Accessories
· Speakers, Headphones, Mic
· Security Surveillance products
· Point of Sale (POS) products
· Ink & Toner
Purchases
International
: China, Hong Kong
Sales
Local : Yes
International
: No exports.
Property &
Assets
Premises : The Subject operates from
premises located at the verified heading
address consisting of warehouse and administrative office.
Branches : None reported.
Central bank : Reserve Bank of Australia
Reserve of foreign exchange & gold : US$ 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 30-60 days
Sales Term
Local : Prepayment, Bank
transfer, Credit 30-60 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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.51 |
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UK Pound |
1 |
Rs.87.60 |
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Euro |
1 |
Rs.69.17 |
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.