MIRA INFORM REPORT
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Report Date : |
09.01.2012 |
IDENTIFICATION DETAILS
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Name : |
BANTEX PTY LTD |
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Formerly Known As : |
SCANREX PTY LTD |
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Registered Office : |
20 Huntingwood Drive, Huntingwood, New South Wales, Zip/postal code 2148 |
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Country : |
Australia |
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Financials (as on) : |
30.06.2010 |
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Date of Incorporation : |
28.04.1972 |
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Com. Reg. No.: |
000994310 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Manufacturer and distributor of office supplies |
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No. of Employees : |
60 |
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 700,000 |
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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 – 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 |
Identification details
Verified Address
Subject name : BANTEX PTY LTD
Business address : 20 Huntingwood Drive
Town : Huntingwood
Province : New South Wales
Zip/postal code : 2148
Country : Australia
Tel : +61 2 88115333
Fax : +61 2 96727722
Email : sales@bantex.com.au
Website : www.bantex.com.au
Registered address : 20 Huntingwood Drive
Town : Huntingwood
Province : New South Wales
Zip/postal code : 2148
Country : Australia
Summary details
Executive Summary
Date founded or registered : 28/04/1972
Legal form : Australian Proprietary Company
Chief executive : Michael Stathakis
Issued & paid up capital : AUD 800,000
Sales turnover : AUD 24,785,971 (Consolidated 12 months, 30/06/2010)
Net income : AUD 2,769,596 (Consolidated 12 months, 30/06/2010)
Total fixed assets : AUD 13,505,526 (Consolidated 12 months, 30/06/2010)
Line of business : Manufacturer and distributor of office supplies.
Staff employed : 60 employees
Credit risk opinion
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 good
Organization structure : Organizational structure is stable
Detrimental : No detrimental records found
Payment history : No payment delays noted
Credit amount suggestion : USD 700,000
Credit amount asked : USD 600,000
Statutory details
Registry Data
Registration date : 28/04/1972
Legal form : Australian Proprietary Company
Registration no Australian
Company Number: 000994310
Registered authority : Australian Securities & Investments
Commission
Fiscal/ Tax no : Australian Business Number: 72000994310
Registry status : Live/Active
Previous name : SCANREX PTY LTD (initial)
Change of legal form : None reported.
Management / directors
Key Management
Name : Michael Stathakis
Designation : Managing Director
Name : Eduardo Fuentealba
Designation : Joint Managing Director
Name : Narendra Charan
Designation : Financial Controller
Name : Barry Mellross
Designation : Logistics Manager
Board of directors / other
appointments
Appointments
Name : Michael
Stathakis
Designation : Director and Company Secretary
Appointment date : 17/08/01
Address :
Kogarah, NSW 2217
Biography : Born
on 18-02-1976 in
Name : Eduardo Fuentealba
Designation : Director
Appointment date : 25/10/07
Address : 10 Cadia Street
Kogarah, NSW 2217
Australia
Biography : Born on 21-04-1956 in Chanco, Chile.
Staff employed : 60 employees
Key Advisors
Auditors : HARRIS & ASSOCIATES
49-51 York Street
Sydney, NSW 2000
Australia
Share capital
Composition
Authorized Capital : AUD 800,000
No of shares : 800,000 Ordinary Shares
Share par value : AUD 1
Issued capital : AUD 800,000
Paid up capital : AUD 800,000
ownership / shareholders
How listed : Full List
Composition
Shareholder name : AOW PTY. LIMITED
Address :
Huntingwood, NSW 2148
Australia
No. of shares : 800,000 Ordinary Shares
% of shares : 100%
Related companies & corporate Affiliations
Structure
Name : AOW PTY. LIMITED
Affiliation type : Parent Company
Address :
Huntingwood, NSW 2148
Australia
Name : BEAUTONE SPECIALTIES AUSTRALIA PTY LIMITED
Affiliation type : Wholly-owned Subsidiary
Address : 20 Huntingwood Drive
Huntingwood, NSW 2148
Australia
Name : MAYER PLASTICS PTY LTD
Affiliation type : Sister Company
Address : 20 Huntingwood Drive
Huntingwood, NSW 2148
Australia
Bank & mortgages
Bank Details
Name of bank : Commonwealth Bank Of
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 :
Satisfied Charges:
ASIC Charge Number: 29360
Date Registered: 10-05-1989
Charge type: Both Fixed & Floating
Date Created: 17-04-1989
Chargees Name: COMMONWEALTH BANK OF AUSTRALIA
ASIC Charge Number: 29391
Date Registered: 26-09-1985
Charge type: Both Fixed & Floating
Date Created: 11-09-1985
Chargees Name: KENT (AUSTRALIA) PTY LTD
ASIC Charge Number: 29418
Date Registered: 12-02-1974
Date Created: 31-01-1974
Chargees Name: CBC HOLDINGS LTD
ASIC Charge Number: 816868
Date Registered: 20-08-2001
Charge type: Both Fixed & Floating
Date Created: 17-08-2001
Chargees Name: ORIX AUSTRALIA CORPORATION LIMITED
ASIC Charge Number: 872975
Date Registered: 03-07-2002
Charge type: Both Fixed & Floating
Date Created: 28-06-2002
Chargees Name: GE CAPITAL FINANCE PTY LTD
ASIC Charge Number: 1100617
Date Registered: 10-11-2004
Charge type: Both Fixed & Floating
Date Created: 06-10-2004
Chargees Name: AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED
Unsatisfied
Charges:
ASIC Charge Number: 1928410
Date Registered: 16-02-2010
Charge type: Both Fixed & Floating
Date Created: 12-02-2010
Chargees Name: WESTPAC BANKING CORPORATION
Legal Fillings
Bankruptcy fillings : None reported.
Court judgements : None reported.
Tax liens : None reported.
Others : None reported.
financial data
Description
Source of financial statement : Commercial
Registry Filings
Financial statement date : 30/06/10
Type of accounts : Full audited
Currency :
Exchange rate : 1 USD = AUD 0.98 as of 06-01-2012
Summarized
Financial Information
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Consolidation
type : |
Consolidated |
Consolidated |
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Currency : |
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Denomination : |
(x1) One |
(x1) One |
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Date of
financial year end : |
30/06/10 |
30/06/09 |
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Length of
accounts : |
12 months |
12 months |
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24,785,971 |
25,307,789 |
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Gross profit : |
10,093,462 |
9,083,184 |
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Profit before
tax : |
2,794,514 |
905,702 |
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Net income : |
2,769,596 |
905,702 |
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Non current
assets : |
5,010,395 |
4,499,670 |
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Current assets : |
8,495,131 |
10,240,567 |
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Inventories : |
3,849,054 |
4,937,547 |
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Total assets : |
13,505,526 |
14,740,237 |
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Current
liabilities : |
6,061,763 |
10,299,730 |
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Non current
liabilities : |
356,936 |
123,276 |
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Total
liabilities : |
6,418,699 |
10,423,006 |
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Share equity : |
7,086,827 |
4,317,231 |
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Reserve : |
719,256 |
719,256 |
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Retained earning : |
5,567,571 |
2,797,975 |
Comments : The consolidated financial information
above relates to the Subject and its only subsidiary Beautone Specialties
Australia Pty Limited.
Operation details
Main activities : The Subject is engaged as manufacturer and distributor of office supplies.
Product &
services
Office Products
-Binders, Folders & Clipboards
-Binder Accessories
-Display & Presentation Books
-Paper Storage
-Cases, Compendiums & Bags
-Tapes, Adhesives & Metal Fasteners
-Rulers, Erasers & Writing Accessories
-Staplers & Punches
Filing Products
-Binders, Folders & Clipboards
-Binder Accessories
-Cases, Compendiums & Bags
-Display & Presentatin Books
-Expanding & Box Files
Cutting Products & Machines
-Shredders
-Guillotines
-Trimmers
-Paper Folders
-Scissors
-Sharpeners
Removable Adhesive Notes
-Removable Self Adhesive Notes
-Flags & Accessories
-Pre-Printed Message Notes & Flags
Writing Instruments
-Pens
-Markers & Highlighters
Adhesive Products
-Indexing Tabs
-Shelving & Label Holders
-Pockets
-Self Laminating Products
-Scrapbooking Products
Scrapbook Products
-Keepbox & Memento Files
-Binders and Gusset Files
-Project Files, Pockets & Albums
Technical Drawing Products
-Drawing Boards & Accessories
-Compasses & Drawinig Sets
-Protractors, Set Squares and Stencils
-Rulers
-Scissors, Scalpels & Cutting Mats
Presentation & Display Products
-Document Holders
-Desk Stands & Wall Units
Digital Presentation & Meeting Technology
-Digital display products
-Business, Conference, Education, Government
Enviro-Friendly Filing
-Binders, Folders
-Binder Accessories
Enviro-Friendly Desk Stationery
-Stapler, Hole-punch, Tape dispenser
Brand : Bantex, Beautone, Zebra, Linex, Tarifold,
Ecoboard, Ecoboard office, 3L, Stickon notes, Ledah, Legacy Crafters, Paper
Show
Purchases
International : Mainly Asia, Europe
Sales
Local : Yes
International : The Subject exports its products to over 70 countries worldwide
Property & Assets
Premises : The Subject operates from premises
located at the verified heading address consisting of production facilities,
warehouse and administrative office.
Branches : In addition, the Subject operates from
branch facilities located at:
Silverwater, NSW 2128
Australia
+61 2 96471555
Summarized country risk
Central bank : Reserve Bank of Australia
Reserve of foreign exchange & gold : US$ 4.879 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 : 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
: 76.00%
Payment history
Purchase Term
Local : Prepayment, D/P, Credit up to 90 days
International : L/C, Prepayment, D/P, Credit up to 90
days
Sales Term
Local : Prepayment, D/P, Credit up to 90 days
International : L/C, Prepayment, D/P, Credit up to 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.52.78 |
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UK Pound |
1 |
Rs.81.79 |
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Euro |
1 |
Rs.67.46 |
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.