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Report Date : |
20.07.2012 |
IDENTIFICATION DETAILS
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Name : |
PRECISION
COMPONENTS AUSTRALIA PTY LTD |
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Formerly Known As : |
PRECISION TOOL & GAUGE PTY. LIMITED |
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Registered Office : |
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Country : |
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Financials (as on) : |
30.06.2011 |
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Date of Incorporation : |
02.07.1934 |
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Com. Reg. No.: |
007874259 |
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Legal Form : |
Australian
Proprietary Company |
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Line of Business : |
Manufacture & distribution of motor vehicle components |
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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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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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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 |
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Verified Address
Subject
name : PRECISION COMPONENTS
AUSTRALIA PTY LTD
Business
address : 4 Jeanes Street
Town :
Beverley
Province
: South Australia
Zip/postal
code : 5009
Country
: Australia
Tel : +61 8 84091400
Fax : +61 8 84451553
Email
: precisioncomponents.com.au
Website
: www.precisioncomponents.com.au
Registered
address : C/o Lewis Richmond
104 Payneham Road
Town :
Stepney
Province
: South Australia
Zip/postal
code : 5069
Country
: Australia
Executive Summary
Date
founded or registered : 02/07/1934
Legal
form : Australian
Proprietary Company
Chief
executive : Kenneth
Reginald Bowditch
Issued
& paid up capital : AUD
13,829
Sales
turnover : AUD 22,206,106
(Non-consolidated 12 months, 30/06/2011)
Net
income : AUD
2,080,013 (Non-consolidated 12 months, 30/06/2011)
Total
fixed assets : AUD
16,652,662 (Non-consolidated 12 months, 30/06/2011)
Line
of business : Manufacture
& distribution of motor vehicle components.
Staff
employed : 60
employees
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
Registration
date : 02/07/1934
Legal
form : Australian
Proprietary Company
Registration
no Australian Company Number: 007874259
Registered
authority : Australian
Securities and Investments Commission
Fiscal/
Tax no : Australian Business Number: 97007874259
Registry
status : Live/Active
Previous
name : PRECISION
TOOL & GAUGE PTY. LIMITED
SOUTHCOTT
TOOL & GAUGE PTY.LIMITED (initial)
Change
of legal form : None
reported.
Key Management
Name :
Kenneth Reginald
Bowditch
Designation
: Managing Director
Appointments
Name :
Kenneth Reginald
Bowditch
Designation
: Director and Company
Secretary
Appointment
date : 17/07/82
Address
: 20 North Street
Collinswood, SA 5081
Australia
Biography
: Born on 08-10-1952 in
Grafton, New South Wales, Australia.
Name :
Darrin James
Spinks
Designation
: Director
Appointment
date : 30/08/05
Address
: 62 Esplanade
Sellicks Beach, SA 5174
Australia
Biography
: Born on 27-07-1970 in
Glenelg, South Australia, Australia.
Name :
Mathew Leo Fitch
Designation
: Director and Company
Secretary
Appointment
date : 23/10/99
Address
: 7A Elderslie Avenue
Fitzroy, SA 5082
Australia
Biography
: Born on 30-06-1978 in
Adelaide, South Australia, Australia.
Name :
David Leo Fitch
Designation
: Director
Appointment
date : 23/10/99
Address
: 6 Brougham Place
Golden Grove, SA 5125
Australia
Biography
: Born on 30-06-1978 in
Adelaide, South Australia, Australia.
Staff
employed : 60 employees
Auditors
: BENTLEYS (SA)
PARTNERSHIP
64 Greenhill Road
Wayville, SA 5034
Australia
Composition
Authorized
Capital : AUD 13,829
No of
shares : 1
Class A Share / 5,702 Ordinary Shares / 575 Redeemable Preferences
Share
par value : No par
value
Issued
capital : AUD
13,829
Paid
up capital : AUD
13,829
How
listed : Full
List
Composition
Shareholder
name : L.F. FITCH
NOMINEES PTY. LTD.
Address
: 12
Fitzroy Terrace
Fitzroy, SA 5082
Australia
No. of shares : 1
Class A Share / 4,445 Ordinary Shares / 575 Redeemable Preference Shares
Shareholder
name : S.A. PRESS METAL
CONSULTANCY PTY LTD
Address
: 62 The
Esplanade
Sellicks Beach, SA 5174
Australia
No. of
shares : 628
Ordinary Shares
Shareholder
name : Jointly held
Kenneth Reginald Bowditch & Catherine Eleanor Bowditch
Address
: 20
North Street
Collinswood, SA 5081
Australia
No. of
shares : 628
Ordinary Shares
Shareholder
name : Leo Frederick
Fitch
Address
: 12
Fitzroy Terrace
Fitzroy, SA 5082
Australia
No. of
shares : 1
Ordinary Share
Structure
Name :
L.F. FITCH
NOMINEES PTY. LTD.
Affiliation
type : Shareholder
Address
: 12 Fitzroy Terrace
Fitzroy, SA 5082
Australia
Name :
S.A. PRESS METAL
CONSULTANCY PTY LTD
Affiliation
type : Shareholder
Address
: 62 The Esplanade
Sellicks Beach, SA 5174
Australia
Name :
PRECISION
COMPONENTS INTERNATIONAL PTY LTD
Affiliation
type : Associate
Address
: 4 Jeanes Street
Beverley, SA 5009
Australia
Name :
RECISION
COMPONENTS ASIA PACIFIC PTY LTD
Affiliation
type : Associate
Address
: 4 Jeanes Street
Beverley, SA 5009
Australia
Bank Details
Name
of bank : Westpac
Banking Corporation
Address
: Australia
Account
details : Current
Account
Name
of bank : BankSA
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 : 30/06/11
Type
of accounts : Full
audited
Currency
: Australia
Dollar (AUD)
Exchange
rate : 1
USD = AUD 0.97 as of 18-07-2012
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 : 30/06/11 30/06/10
Length
of accounts : 12 months 12 months
Sale
turnover / Income : 22,206,106 21,274,657
Profit
before tax : 2,978,896
1,735,858
Net
income : 2,080,013
1,206,003
Non
current assets : 8,763,581
6,567,167
Current
assets : 7,889,081
9,164,917
Inventories
: 1,718,732 1,554,213
Total
assets : 16,652,662
15,732,084
Current
liabilities : 3,817,782
3,433,639
Non
current liabilities : 50,735
344,313
Total
liabilities : 3,868,517
3,777,952
Share
equity : 12,784,145
11,954,132
Retained
earning : 12,517,754 11,687,741
OPERATION
DETAILS
Main
activities : The Subject engages in manufacturing & distribution of motor
vehicle components.
The
Subject's major customer is General Motors Holden Ltd.
Product
& services : Automotive components
Tooling
Metal
Stamping
Mechanical
assembly
International
: Asia countries
Local
: Yes
International
: Asia countries
Premises
: The Subject operates from premises located at the verified heading
address
consisting of production facilities, 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
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 : 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
International
: Prepayment, Telegraphic transfer, Credit 30-90 days
Local :
Prepayment, Bank transfer, Credit 30-90 days
International
: L/C, Telegraphic transfer, Credit 30-90 days
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
|
Currency |
Unit
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Indian Rupees |
|
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 : |
PDT |
RATING EXPLANATIONS
|
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.