MIRA INFORM REPORT
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Report Date : |
25.08.2012 |
IDENTIFICATION DETAILS
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Correct Name : |
NATIONAL RESOURCES PTY. LTD. |
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Formerly Known As : |
WOLOWA PTY. LTD. |
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Registered Office : |
Unit 2, 4 Gateway Drive,
Carrum Downs, Victoria, Zip/postal code 3201 |
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Country : |
Australia |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
10.11.1989 |
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Com. Reg. No.: |
007331606 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Import & distribution of aluminium rolled products,
flexible packaging and PVC films etc. |
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No. of Employees : |
08 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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Maximum Credit Limit : |
USD 400,000 |
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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 : NATIONAL RESOURCES PTY. LTD.
Business address : Unit 2, 4 Gateway Drive
Town : Carrum Downs
Province : Victoria
Zip/postal code : 3201
Country : Australia
Tel : +61 3 97764266
Fax : +61 3 97082640
Email : natres@nationalresources.com.au
Website : www.nationalresources.com.au
Registered address : Unit 2, 4 Gateway Drive
Town : Carrum Downs
Province : Victoria
Zip/postal code : 3201
Country : Australia
Executive Summary
Date founded or registered : 10/11/1989
Legal form : Australian
Proprietary Company
Chief executive : Leon Edmund Cox
Issued & paid up capital
: AUD 100
Sales turnover : AUD 31,125,237 (Non-consolidated 12
months, 31/12/2011)
Net income : AUD 1,147,275
(Non-consolidated 12 months, 31/12/2011)
Total fixed assets : AUD 14,264,249
(Non-consolidated 12 months, 31/12/2011)
Line of business : Import & distribution
of aluminium rolled products, flexible packaging and PVC
films etc.
Staff employed : 8 employees
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 good
Organization structure : Organizational structure is stable
Detrimental : No detrimental records found
Payment history : No payment delays noted
Credit amount suggestion : USD 400,000
Credit amount asked : Not described.
Registry Data
Registration date : 10/11/1989
Legal form : Australian
Proprietary Company
Registration no Australian Company
Number: 007331606
Registered authority : Australian Securities and Investments
Commission
Fiscal/ Tax no : Australian Business
Number: 40007331606
Registry status : Live/Active
Previous name : WOLOWA PTY. LTD.
(initial)
Change of legal form : None reported.
Key Management
Name : Leon Edmund Cox
Deignation : Managing Director
Appointments
Name : Leon Edmund Cox
Designation : Director and Company Secretary
Appointment date : 18/12/89
Address : 464 Bentons Road
Moorooduc,
VIC 3933
Australia
Biography : Born on 04-11-1953 in
Bunbury, Western Australia, Australia.
Staff employed : 8 employees
Key Advisors
Auditors : MERVYN JOHN MALLETT
'Level1
Scott Partners'
Suite 6,
1949 Malvern Road
Darling,
VIC 3145
Australia
Composition
Authorized Capital : AUD 100
No of shares : 10,000 Ordinary Shares
Share par value : AUD 0.01
Issued capital : AUD 100
Paid up capital : AUD
100
How listed : Full List
Composition
Shareholder name : Stuart Munro Knox
Address : 3 Mclean Court
Frankston
South, VIC 3199
Australia
No. of shares : 500 Ordinary Shares
Shareholder name : NATRES INVESTMENTS PTY LTD
Address : Unit 2, 4 Gateway Drive
Carrum
Downs, VIC 3201
Australia
No. of shares : 9,500 Ordinary Shares
Structure
Name : NATRES INVESTMENTS PTY
LTD
Affiliation type : Parent Company
Address : Unit 2, 4 Gateway Drive
Carrum
Downs, VIC 3201
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
Source of financial statement
: Commercial Registry Filings
Financial statement date : 31/12/11
Type of accounts : Full audited
Currency : Australia Dollar
(AUD)
Exchange rate : 1 USD = AUD 0.96 as of
24-08-2012
Summarized
Financial Information
Consolidation type : Non
Consolidated Non
Consolidated
Currency : Australia
Dollar (AUD) Australia Dollar
(AUD)
Denomination : (x1)
One (x1)
One
Date of financial year end : 31/12/11
31/12/10
Length of accounts : 12
months 12
months
Sale turnover / Income : 31,125,237 28,484,636
Gross profit : 3,283,729 3,140,718
Profit before tax : 1,644,533 1,614,026
Net income : 1,147,275 1,127,658
Non current assets : 1,182,623 1,203,523
Current assets : 13,081,626 11,964,328
Inventories : 4,439,027 5,593,795
Total assets : 14,264,249 13,167,851
Current liabilities : 8,838,075 8,253,064
Non current liabilities : 149,219
168,107
Total liabilities : 8,987,294 8,421,171
Share equity : 5,276,955 4,746,680
Reserve : 198,427 198,427
Retained earning : 5,078,428 4,548,153
Main activities : The Subject engages in import
& distribution of aluminium rolled products,
flexible packaging and PVC films etc.
Product & services :
Packaging:
- Container Foil – Lacquered
and Lubricated
- Metallised and Coated
Papers
- Aluminium Closures
- Closure Wadding and Induction
Seals
- Blister Film/ Foil – Pharma
- Shrink PVC and PET Film
- Polylaminate Foils
- Aluminium Lidding
- BOPP, Nylon and High
Barrier Films
Industrial:
- Plain Aluminium Sheet and
Coil
- Mill Finish and Bright
Aluminium Tread Plate
- Transport Roofing Coil
- Painted Aluminium Coil
- High Strength Aluminium
Sheet and Plate
- PVC and Copolymer Resins
Building:
- “Etalbond” – Aluminium
Composite Panels
- Aluminium Finstock/ Heat
Exchangers
Purchases
International : Asia countries
Sales
Local : Yes
International : New Zealand
Property &
Assets
Premises : The Subject operates from
premises located at the verified heading
address consisting of administrative office 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, 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.55.38 |
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UK Pound |
1 |
Rs.87.80 |
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Euro |
1 |
Rs.69.48 |
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.