MIRA INFORM REPORT
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Report Date : |
23.08.2012 |
IDENTIFICATION DETAILS
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Name : |
HOUSE OF PERSIA PTY LTD |
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Registered Office : |
575-579
Victoria Road, Abbotsford, Victoria,
Zip/postal code 3067 |
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Country : |
Australia |
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Date of Incorporation : |
02.09.1999 |
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Com. Reg. No.: |
089351057 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Import & distribution of carpets and rugs |
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No. of Employees : |
07 employees
(Full time) |
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
|
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 :
HOUSE OF PERSIA PTY LTD
Business
address : 575-579 Victoria Road
Town : Abbotsford
Province : Victoria
Zip/postal
code : 3067
Country : Australia
Tel : +61 3 94212916
Fax : +61 3 94212948
Email : info@houseofpersia.com.au
Website : www.houseofpersia.com.au
Registered
address : 575-579 Victoria Road
Town : Abbotsford
Province : Victoria
Zip/postal
code : 3067
Country : Australia
Executive Summary
Date founded
or registered : 02/09/1999
Legal form : Australian
Proprietary Company
Chief
executive : Shahrokh
Feghhinedjad
Issued &
paid up capital : AUD 100
Sales turnover
: AUD 3,000,000
(Estimated Non-consolidated 12 months, 30/06/2011)
Line of
business Import
& distribution of carpets and rugs.
Staff employed
: 7 employees (Full
time)
Company Analysis
Country risk :
Country risk
is minimal
Operation
trend : Operational
trend is steady
Management
experience : Management is
adequately 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 : 02/09/1999
Legal form : Australian Proprietary Company
Registration
no Australian Company Number:
089351057
Registered
authority : Australian Securities and
Investments Commission
Fiscal/ Tax no
: Australian
Business Number: 39089351057
Registry
status : Live/Active
Previous name
: None reported.
Change of
legal form : None reported.
Key Management
Name : Shahrokh Feghhinedjad
Desigation : Managing Director
Appointments
Name : Shahrokh Feghhinedjad
Designation : Director and Company Secretary
Appointment
date : 02/10/03
Address : Unit 8, 27 Edgar Street
Glen Iris, VIC 3146
Australia
Biography : Born on 31-10-1964 in Tehran,
Iran.
Staff employed
: 7 employees (Full time)
Composition
Authorized
Capital : AUD 100
No of shares :
100 Ordinary Shares
Share par
value : AUD 1
Issued capital
: AUD 100
Paid up
capital : AUD 100
How listed : Full List
Composition
Shareholder
name : PERSIAN BAZAAR HANDMADE
DESIGNER CARPETS PTY LTD
Address : 575-579 Victoria Road
Abbotsford, VIC 3067
Australia
No. of shares
: 50 Ordinary Shares
% of shares : 50%
Shareholder
name : Shiva Koinakis
Address : Unit 1, 2 Halliday Street
Mount Waverley, VIC 3149
Australia
No. of shares
: 50 Ordinary Shares
% of shares : 50%
Structure
Name : PERSIAN BAZAAR HANDMADE
DESIGNER CARPETS PTY LTD
Affiliation
type : Shareholder
Address : 575-579 Victoria Street
Abbotsford VIC 3067
Australia
Bank Details
Name of bank :
Commonwealth Bank
of Australia
Address : Australia
Account
details : Current Account
Name of bank :
Australia and New
Zealand Banking Group
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 : External Sources
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 : 3,000,000
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
$12.5 million, and
-The company and any entities it controls have fewer than
50 employees at the end of the financial year.
Main
activities : The
Subject engages in import & distribution of carpets and rugs.
Purchases
International
: India, Iran, Turkey,
Pakistan
Sales
Local : Yes
International
: China, Japan, Hong Kong
Property &
Assets
Premises : The Subject operates from
premises located at the verified heading address consisting of
showroom, warehouse and administrative office.
Branches : None reported.
Central bank : Reserve Bank of Australia
Reserve of foreign exchange & gold : US$ 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
International
: Prepayment, Telegraphic 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
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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.