MIRA INFORM REPORT
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Report Date : |
14.12.2012 |
IDENTIFICATION DETAILS
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Name : |
T-CAP INNOVATION PTY LTD |
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Registered Office : |
Unit 11, 110 Bourke Road, Alexandria, New South Wales, Zip/postal code 2015 |
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Country : |
Australia |
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Date of Incorporation : |
17.10.2005 |
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Com. Reg. No.: |
116713485 |
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Legal Form : |
Australian
Proprietary Company |
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Line of Business : |
Import and distributor
of electronic products and accessories |
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No. of Employees : |
15 employees
(Full time); 25 employees including casuals |
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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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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 |
Australia - ECONOMIC OVERVIEW
Australia's abundant and diverse natural resources attract high levels of foreign investment and include extensive reserves of coal, iron ore, copper, gold, natural gas, uranium, and renewable energy sources. A series of major investments, such as the US$40 billion Gorgon Liquid Natural Gas project, will significantly expand the resources sector. Australia also has a large services sector and is a significant exporter of natural resources, energy, and food. Key tenets of Australia''s trade policy include support for open trade and the successful culmination of the Doha Round of multilateral trade negotiations, particularly for agriculture and services. The Australian economy grew for 17 consecutive years before the global financial crisis. Subsequently, the former RUDD government introduced a fiscal stimulus package worth over US$50 billion to offset the effect of the slowing world economy, while the Reserve Bank of Australia cut interest rates to historic lows. These policies - and continued demand for commodities, especially from China - helped the Australian economy rebound after just one quarter of negative growth. The economy grew by 1.4% during 2009 - the best performance in the OECD - by 2.7% in 2010, and by 1.8% in 2011. Unemployment, originally expected to reach 8-10%, peaked at 5.7% in late 2009 and fell to 5.0% in 2011. As a result of an improved economy, the budget deficit is expected to peak below 4.2% of GDP and the government could return to budget surpluses as early as 2015. Australia was one of the first advanced economies to raise interest rates, with seven rate hikes between October 2009 and November 2010. The GILLARD government is focused on raising Australia''s economic productivity to ensure the sustainability of growth, and continues to manage the symbiotic, but sometimes tense, economic relationship with China. Australia is engaged in the Trans-Pacific Partnership talks and ongoing free trade agreement negotiations with China, Japan, and Korea.
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Source : CIA |
Verified Address
Subject name :
T-CAP INNOVATION PTY LTD
Business
address : Unit 11, 110 Bourke Road
Town : Alexandria
Province : New South Wales
Zip/postal
code : 2015
Country : Australia
Tel : +61 2 96983788
Fax : +61 2 96983855
Email : marketing@tcap.com.au
Website : www.tcap.com.au
Registered
address : Unit 11, 110 Bourke Road
Town : Alexandria
Province : New South Wales
Zip/postal
code : 2015
Country : Australia
Postal address
: P.O. Box 7340
Town : Alexandria
Province : New South Wales
Zip/postal
code : 2015
Country : Australia
Executive Summary
Date founded
or registered : 17/10/2005
Legal form : Australian
Proprietary Company
Chief
executive : Terry Lu
Chun-An
Issued &
paid up capital : AUD 200
Sales turnover
: AUD 8,000,000
(Estimated Non-consolidated 12 months, 30/06/2012)
Line of
business : Import and
distributor of electronic products and accessories.
Staff employed
: 15 employees (Full
time); 25 employees including casuals
Company Analysis
Country risk :
Country risk
is minimal
Operation
trend : Operational trend
is steady
Management
experience : Management is
modestly experienced
Financial
performance : Financial
performance is fair
Organization
structure : Organizational structure is
stable
Detrimental : No
detrimental found
Payment history : No payment delays noted
Comments : It is advisable to conduct
business dealing on prepayment or L/C for larger credit
transaction
than suggested. Although the Subject seems well positioned in the
market
and financially stable however without official financial information it would
be
difficult to grant a large credit amount as requested.
Registry Data
Registration
date : 17/10/2005
Legal form : Australian Proprietary Company
Registration
no Australian Company Number:
116713485
Registered
authority : Australian Securities and
Investments Commissions
Fiscal/ Tax no
: Australian Business Number:
90116713485
Registry
status : Live/Active
Previous name
: None reported.
Change of
legal form : None reported.
Key Management
Name : Terry Lu Chun-An
Designation : Managing
Director
Name : Tammy Lee
Designation : Director
Appointments
Name : Tammy Lee
Designation : Director and Company Secretary
Appointment
date : 17/10/05
Address : C/o T-CAP INNOVATION PTY
LTD
Unit 11, 110 Bourke Road
Alexandria, NSW 2015
Australia
Biography : Born on 16-07-1980 in Taiwan.
Name : Terry Lu Chun-An
Designation : Director
Appointment
date : 12/02/07
Address : C/o T-CAP INNOVATION PTY
LTD
Unit 11, 110 Bourke Road
Alexandria, NSW 2015
Australia
Biography : Born on 11-11-1973 in Taipei,
Taiwan
Staff employed
: 15 employees (Full time); 25
employees including casuals
Composition
Authorized
Capital : AUD 200
No of shares :
200 Ordinary Shares
Share par
value : AUD 1
Issued capital
: AUD 200
Paid up capital : AUD
200
How listed : Full List
Composition
Shareholder
name : Tammy Lee
Address : C/o T-CAP INNOVATION PTY
LTD
Unit 11, 110 Bourke Road
Alexandria, NSW 2015
Australia
No. of shares
: 180 Ordinary Shares
Shareholder
name : Terry Lu Chun-An
Address : C/o T-CAP INNOVATION PTY
LTD
Unit 11, 110 Bourke Road
Alexandria, NSW 2015
Australia
No. of shares
: 20 Ordinary Shares
RELATED COPANIES & CORPORATE
AFFILIATIO
Structure
Related
companies and corporate affiliations comments :
None reported.
Bank Details
Name of bank :
Commonwealth Bank
Of Australia
Address : Australia
Account
details : Current Account
Name of bank :
Westpac Banking
Corporation
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 :
ASIC Charge
Number: 1536026
Date
Registered: 29-10-2007
Charge type:
Both Fixed & Floating
Date Created:
02-07-2007
Chargees Name:
BANK OF QUEENSLAND LIMITED
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 : 30/06/12
Type of
accounts : Estimated
key figures
Currency : Australia Dollar
(AUD)
Exchange rate
: 1 USD = AUD 0.95
as of 11-12-2012
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 : 30/06/12 30/06/11
Length of accounts
: 12 months 12 months
Sale turnover
/ Income : 8,000,000 8,000,000
Comments : The estimated turnover was
provided by Mr. Terry Lu Chun-An.
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 $12.5 million,
and
-The company and any entities it controls have fewer than 50
employees at the
Main
activities : The
Subject is mainly engaged in import, wholesale & distribution of
electronic products and accessories.
Products are distributed through a network of more than
300 dealers.
Product & services :
Green power
products: Solar decor and solar clock
Electronics
products and accessories: Media player, home teater systems,
radio,
speakers, audio/video cables, zoom lens, portable/outdoor
entertainment
Service:
Logistics
services
Purchases
International
: Taiwan, China, South
Korea, United Kingdom
Sales
Local : Yes
International : Pacific Islands, Taiwan, China
Property &
Assets
Premises : The Subject operates from
premises located at the verified heading
address consisting of an administrative office and
warehouse.
Branches : None reported.
Central bank : Reserve Bank of Australia
Reserve of foreign exchange & gold : US$ 43.879 billion
Gross domestic product – GDP : US$ 1.586 trillion
GPP (Purchasing power parity) : 954.296 billion of International dollars
GDP per capita - current prices : US$ 68,916
GDP - composition by sector : agriculture: 4% industry: 25.6% services: 70.4%
Inflation : 2009: 1.8%
2010: 2.8%
2011: 3.4%
Unemployment rate 2009: 5.6 %
2010: 5.2 %
2011:5.1 %
Public debt
(General Government gross
debt as a % GDP) 2009: 16.9%
2010: 20.4%
2011: 22.9 %
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 2009: US$46,843 million
2009: US$25,716 million
2010: US$32,472 million
FDI Outflows 2008: US$33,604 million
2009: US$ 16,160 million
2010: US$26,431 million
Best countries for doing business : 10
out of 183 countries
Global competitiveness ranking : 20
(ranking by country on a basis of 142, 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 :
76%
Purchase Term
International
: Prepayment, Credit 30-60
days
Sales Term
Local : Prepayment, Credit
30-60 days
International
: Prepayment, 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 |
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US Dollar |
1 |
Rs.54.23 |
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UK Pound |
1 |
Rs.87.53 |
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Euro |
1 |
Rs.70.94 |
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.