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Report Date : |
20.07.2012 |
IDENTIFICATION DETAILS
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Name : |
BASFORD BRANDS PTY LTD |
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Registered Office : |
C/o WHK
Level 1, 200 Malop Street, |
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Country : |
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Financials (as on) : |
30.06.2010 |
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Date of Incorporation : |
29.03.1988 |
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Com. Reg. No.: |
006946452 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Import and distribution of window furnishing and home
furnishing products. |
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No. of Employees : |
100 |
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
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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 : BASFORD BRANDS PTY
LTD
Business
address : 16-20 Apparel Close
Town : Breakwater
Province
: Victoria
Zip/postal
code : 3219
Country
: Australia
Tel : +61 3 52721888
Fax : +61 3 52721703
Email :
enquiries@basfordbrands.com
Website
:
www.basfordbrands.com
Registered
address : C/o WHK
Level 1, 200 Malop
Street
Town : Geelong
Province : Victoria
Zip/postal
code : 3220
Country : Australia
Executive Summary
Date
founded or registered :
29/03/1988
Legal
form :
Australian Proprietary Company
Chief
executive : Wayne
John Leslie
Issued
& paid up capital : AUD
660,000
Sales
turnover : AUD 29,289,632
(Non-consolidated 12 months, 30/06/2010)
Net
income :
AUD 1,673,876 (Non-consolidated 12 months, 30/06/2010)
Total
fixed assets : AUD
14,241,344 (Non-consolidated 12 months, 30/06/2010)
Line of business :
Import and distribution of window furnishing and home furnishing products.
Staff
employed : 100
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 asked : Not described.
Registry Data
Registration
date : 29/03/1988
Legal
form : Australian
Proprietary Company
Registration
no
Australian
Company
Number : 006946452
Registered
authority : Australian Securities
and Investments Commission
Fiscal/
Tax no : Australian
Business Number: 27006946452
Registry
status : Live/Active
Previous
name : FILIGREE TEXTILES
PTY. LTD.
HOLMES & BAXTER
(AUSTRALIA) PTY. LIMITED (initial)
Change
of legal form : None reported.
Key Management
Name : Wayne John Leslie
Designation
: Managing Director
Appointments
Name : Christopher Grant
Mitchell
Designation
: Director
Appointment
date : 23/03/11
Address
: 36 George Street
Barwon Heads,
VIC 3227
Australia
Biography
: Born on 01-01-1947
in Melbourne, Victoria, Australia.
Name : Paul Wilkinson
Designation : Director and Company
Secretary
Appointment
date : 31/05/11
Address
: 7 The Regency
Hillside, VIC 3037
Australia
Biography :
Born on 02-07-1952 in Melbourne, Victoria, Australia.
Name : Wayne John Leslie
Designation
: Director
Appointment
date : 04/04/95
Address
: 370 Brushfields
Road
Bellbrae, VIC 3228
Australia
Biography
: Born on 01-12-1964
in Melbourne, Victoria, Australia.
Staff
employed : 100 employees
Key Advisors
Auditors : DAVIDSONS ASSURANCE SERVICES PTY
LTD
101 West Fyans
Street
Geelong, VIC 3220
Australia
Composition
Authorized
Capital : AUD 660,000
No of
shares : 160,000 I Class
Redeemable Preference Shares / 500,000 Ordinary Shares
Share
par value : AUD 1
Issued
capital : AUD 660,000
Paid
up capital : AUD 660,000
How
listed : Full List
Composition
Shareholder
name : THE BASFORD GROUP PTY LTD
Address
: 16-20 Apparel
Close
Breakwater, VIC 3219
Australia
No. of
shares : 160,000 I Class Redeemable
Preference Shares / 500,000 Ordinary Shares
% of
shares : 100%
Structure
Name : LOGANHURST PTY LTD
Affiliation
type : Ultimate Holding Company
Address
: 741 Glenferrie Road
Hawthorn, VIC 3122
Australia
Name : THE BASFORD GROUP PTY LTD
Affiliation
type : Parent Company
Address
: 16-20 Apparel Close
Breakwater VIC 3219
Australia
Name : BASFORD BRANDS IP PTY LIMITED
Affiliation
type : Sister Company
Address
: 20 Ascot Road
Airport Oaks,
Auckland 2022
New Zealand
Name : MAURICE KAIN NZ LIMITED
Affiliation
type : Sister Company
Address
: 20 Ascot Road
Airport Oaks,
Auckland 2022
New Zealand
Name : BASFORD ENTERPRISE PTY LTD
Affiliation
type : Sister Company
Address
: 16-20 Apparel Close
Breakwater, VIC 3219
Australia
Bank Details
Name
of bank : Australia And New
Zealand Banking Group Limited
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 : 30/06/10
Type
of accounts : Full
audited
Currency
:
Australia Dollar (AUD)
Exchange
rate : 1 USD =
AUD 0.97 as of 18-07-2012
Consolidation
type : Non
Consolidated Non
Consolidated
Currency
:
Australia Dollar (AUD) Australia
Dollar (AUD)
Denomination
:
(x1) One (x1)
One
Date
of financial year end :
30/06/10 30/06/09
Length
of accounts : 12
months 12
months
Sale
turnover / Income :
29,289,632 20,064,710
Gross
profit :
12,782,908 9,669,917
Profit
before tax :
2,328,010 2,197,672
Net
income :
1,673,876 1,771,052
Non
current assets :
2,127,777 1,235,313
Current
assets :
12,113,567 11,210,495
Inventories
:
6,640,712 5,354,909
Total
assets :
14,241,344 12,445,808
Current
liabilities :
2,865,476 2,263,572
Non
current liabilities :
6,726,296 5,406,540
Total
liabilities :
9,591,772 7,670,112
Share
equity :
4,649,572 4,775,696
Retained
earning : 3,989,572
4,115,696
Main
activities : The Subject
engages in import and distribution of window furnishing and
home furnishing
products.
The Subject
distributes window & home furnishing products from well
known labels like
Sekers, Maurice Kain, Filigree, Filigree Blinds, Zaab
Homewares and
Claremont.
Product
& services : Window
furnishing: Laces, sheers, blinds
Home
furnishing : Fabrics, decorative pillows
etc
Brand : Basford Brands
Filigree
Sekers
Maurice Kain
Zaab Homewares
Filigree Blinds
Claremont
Purchases
International
: India, South East
Asia, China, Italy, France
Sales
Local : Yes
International
: New Zealand, South
East Asia
Property & Assets
Premises
: The Subject
operates from premises located at the verified heading
address consisting
of warehouse and administrative office.
Branches
: None reported.
Gross Domestic Products (GDP) &
Economic Overview
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 : 2009:
16.9%
a %
GDP) 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 : 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)
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$46,843
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)
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
Local : Prepayment, Bank transfer,
Credit 30-90 days
International
: L/C, Telegraphic transfer, Credit
30-90 days
Sales Term
Local : Prepayment, Bank transfer, Credit
30-90 days
International
: L/C, 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
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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.86.74 |
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Euro |
1 |
Rs.68.06 |
INFORMATION DETAILS
|
Report Prepared
by : |
NLM |
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 |
-- |
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.