MIRA INFORM REPORT
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Report Date : |
23.02.2012 |
IDENTIFICATION DETAILS
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Name : |
ACE CERAMICS PTY LTD |
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Registered Office : |
C/O Lo Surdo Braithwaite & Co, 87-91 Lyons Road , Drummoyne, New South Wales, Zip/Postal Code 2047 |
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Country : |
Australia |
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Date of Incorporation : |
17.07.1974 |
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Com. Reg. No.: |
001247632 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Procurement and wholesale of tiles and stone products for the residential and commercial sectors |
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No. of Employees : |
22 |
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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Maximum Credit Limit : |
USD 240,000 |
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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 – September 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 : ACE CERAMICS PTY LTD
Business address : 125-135 Bonds Road
Town : Riverwood
Province : New South Wales
Zip/postal code : 2210
Country : Australia
Tel : +61 2 95844000
Fax : +61 2 95841750
Website : www.aceceramics.com.au
Registered address : C/o LO SURDO BRAITHWAITE & CO
87-91 Lyons Road
Town : Drummoyne
Province : New South Wales
Zip/postal code : 2047
Country : Australia
Executive Summary
Date founded or registered : 17/07/1974
Legal form : Australian Proprietary Company
Chief executive : Nicola Peronace
Issued & paid up capital : AUD 3,400
Sales turnover : AUD 6,000,000 (Estimated
Non-consolidated 12 months, 30/06/2011)
Line of business :
Procurement and wholesale of tiles and
stone products for the residential and commercial sectors.
Staff employed : 22 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 fair
Organization structure : Organizational structure is stable
Detrimental : No detrimental records found
Payment history : No payment delays noted
Credit amount suggestion : USD 240,000
Credit amount asked : Not described.
Registry Data
Registration date : 17/07/1974
Legal form : Australian Proprietary Company
Registration no : Australian Company Number: 001247632
Registered authority : Australian Securities and Investments Commission
Fiscal/ Tax no : Australian Business Number: 27001247632
Registry status : Live/Active
Previous name : None reported.
Change of legal form : None reported.
Key Management
Name : Nicola Peronace
Designation : Managing Director
Name : Frank Peronace
Designation : Director
Appointments
Name Nicola Peronace
Designation Director
Appointment date 17/07/74
Address 2 Bennett Avenue
Five Dock, NSW 2046
Australia
Biography Born on 08-10-1947 in Catanzaro, Italy.
Name Frank Peronace
Designation Director and Company Secretary
Appointment date: 29/03/97
Address : 4 Gladstone Avenue
Hunters Hill, NSW 2110
Australia
Biography : Born on 25-05-1962 in Catanzaro, Italy.
Staff employed : 22 employees
Key Advisors
Auditors : LO SURDO BRAITHWAITE & CO
87-91 Lyons Road
Drummoyne, NSE 2047
Australia
Composition
Authorized Capital :
AUD 3,400
No of shares : 1,000 Class A Shares / 1,380 Class B Shares
/ 1,000 Class C Shares / 20 ClassD
Shares
Share par value :
AUD 1
Issued capital : AUD 3,400
Paid up capital : AUD 3,400
How listed : Full List
Composition
Shareholder name : Nicola Peronace
Address : 2 Bennett Avenue
Five Dock, NSW 2046
Australia
No. of shares : 700 Class A Shares / 632 Class B Shares / 367 Class C Shares / 14 Class D Shares
Shareholder name : Frank Peronace
Address : 4 Gladstone Avenue
Hunters Hill, NSW 2110
Australia
No. of shares : 300 Class A Shares / 414 Class B Shares / 300 Class C Shares / 6 Class D Shares
Shareholder name Olimpia Peronace
Address 2 Bennett Avenue
Five Dock, NSW 2046
Australia
No. of shares 334 Class B Shares
Shareholder name Laura Lepessiotis
Address 424 Great North Road
Abbotsford, NSW 2046
Australia
No. of shares 333 Class C Shares
Structure
Name : ACE CONTRACTORS PTY LTD
Affiliation type : Associate
Address : 125-135 Bonds Road
Riverwood, NSW 2210
Australia
Bank Details
Name of bank : Australia And New Zealand Banking Group
Limited
Address : Australia
Account details : Current Account
Name of bank : Commonwealth Bank Of 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
Satisfied Charges:
ASIC Charge Number: 11591
Date Registered: 16-11-1989
Charge type: Both Fixed & Floating
Date Created: 06-11-1989
Chargees Name: AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED
ASIC Charge Number: 11604
Date Registered: 19-01-1979
Date Created: 22-12-1978
Chargees Name: ELAN MANAGEMENT LIMITED
ASIC Charge Number: 11620
Date Registered: 17-06-1983
Charge type: Both Fixed & Floating
Date Created: 02-06-1983
Chargees Name: COMMONWEALTH BANK OF AUSTRALIA
ASIC Charge Number: 11635
Date Registered: 01-03-1985
Charge type: Both Fixed & Floating
Date Created: 25-02-1985
Chargees Name: DCAM PTY LIMITED
ASIC Charge Number: 11646
Date Registered: 04-10-1985
Charge type: Both Fixed & Floating
Date Created: 02-09-1985
Chargees
Name: MARKITEX (AUSTRALIA) PROPRIETARY LIMITED, BRITISH MARKITEX LTD & MARKITEX (N.Z.) LIMITED.
Legal Fillings
Bankruptcy fillings : None reported.
Court judgements : None reported.
Tax liens : None reported.
Others : None reported.
Description
Source of financial statement : Industry
Sources
Financial statement date : 30/06/11
Type of accounts : Estimated key figures
Currency : Australia Dollar (AUD)
Exchange rate : 1 USD = AUD 0.94 as of 22-02-2012
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 : 6,000,000
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 $12.5 million, and
-The company
and any entities it controls have fewer than 50 employees at the end of the
financial year.
Main activities : The Subject is engaged in procurement
and wholesale of tiles and stone products for the residential and commercial
sectors.
Product & services : Wall tiles Floor tiles Bathroom Tiles Kitchen Tiles
Purchases
International : Italy, Spain, China, Turkey, Malaysia,
Thailand
Sales
Local : Yes
International : No exports.
Property & Assets
Premises : The Subject operates from premises
located at the verified heading address consisting of administrative office,
showroom and warehouse.
Branches : None reported.
Central bank : Reserve Bank of Australia
Reserve of foreign exchange & gold : US$ 43.879 billion
Gross domestic product – GDP : US$ 1.448 trillion
GPP (Purchasing power parity) : 918.529 billion of International dollars
GDP per capita - current prices : US$ 64,351
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 :
Westpac Banking Group (Major Banks),
BHP Billiton (Diversified Metals & Mining), Commonwealth Bank (Major
Banks), National Australia Bank (Major Banks), ANZ Banking (Major Banks),
Telstra (Telecommunications services), Wesfarmers (Food Retail)
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 2008: US$46,722 million
2009: US$22,572 million
2010: US$32,472 million
FDI Outflows 2008: US$32,819 million
2009: US$18,426 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
: 76.00%
Purchase Term
International : Prepayment, Telegraphic transfer, Credit
30-90 days
Sales Term
Local : Prepayment, Bank transfer, Cash, 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.49.25 |
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UK Pound |
1 |
Rs.76.75 |
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Euro |
1 |
Rs.65.16 |
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.