MIRA INFORM REPORT
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Report Date : |
21.06.2012 |
IDENTIFICATION DETAILS
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Name : |
F.C. AUSTRALIA PTY. LTD. |
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Formerly Known As : |
LAUNDERDALE PROPRIETARY
LIMITED |
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Registered Office : |
Level 3, |
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Country : |
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Date of Incorporation : |
28.01.1998 |
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Com. Reg. No.: |
081217165 |
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Legal Form : |
Australian Proprietary
Company |
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Line of Business : |
import & retail
of apparels and fashion products |
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No. of Employees : |
300 |
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 : F.C. AUSTRALIA PTY.
LTD.
Other style / Business name :
FRENCH CONNECTION
Business address : Level 5, 425 St Kilda Road
Town : Melbourne
Province : Victoria
Zip/postal code : 3004
Country : Australia
Tel : +61
3 98633200
Fax : +61
3 98633201
Website : www.frenchconnection.com.au
Registered address : Level 3, 7 Bowen Crescent
Town : Melbourne
Province : Victoria
Zip/postal code : 3004
Country : Australia
Executive Summary
Date founded or registered : 28/01/1998
Legal form : Australian
Proprietary Company
Chief executive : Peter Lew
Issued & paid up capital
: AUD 4
Sales turnover : AUD 10,000,000 (Estimated
Non-consolidated 12 months, 30/06/2011)
Line of business : Import & retail of
apparels and fashion products.
Staff employed : 300 employees (Subject)
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 fair
Organization structure : Organizational structure is stable
Detrimental : No detrimental records found
Payment history : No payment delays noted
Registry Data
Registration date : 28/01/1998
Legal form : Australian
Proprietary Company
Registration no Australian Company
Number: 081217165
Registered authority : Australian Securities and
Investments Commission
Fiscal/ Tax no : Australian Business
Number: 76081217165
Registry status : Live/Active
Previous name : LAUNDERDALE PROPRIETARY
LIMITED (initial)
Change of legal form : None reported.
Key Management
Name : Peter Lew
Designation : Managing Director
Name : Daniel Werner Hammerschlag
Designation : Director
Name : Kim Francis Davis
Designation : Director
Appointments
Name : Daniel Werner
Hammerschlag
Designation : Director and Company Secretary
Appointment date : 23/06/99
Address : 57 Rosemont Avenue
Caulfield,
North VIC 3161
Australia
Biography : Born on 03-08-1959 in
Johnannesburg, South Africa.
Name : Peter Lew
Designation : Director
Appointment date : 11/03/98
Address : 2 Ottawa Road
Toorak,
VIC 3142
Australia
Biography : Born on 25-02-1970 in
Melbourne, Victoria, Australia.
Name : Kim Francis Davis
Designation : Director
Appointment date : 23/11/99
Address : 69 Tristania Street
Doncaster,
East VIC 3109
Australia
Biography : Born on 30-05-1960 in
Auckland, New Zealand.
Staff employed : 300 employees (Subject
Composition
Authorized Capital : AUD 4
No of shares : 2 Ordinary Shares
Share par value : AUD 2
Issued capital : AUD 4
Paid up capital : AUD
4
How listed : Full List
Composition
Shareholder name : P. LEW INVESTMENTS PTY. LTD.
Address : Level 3, 7 Bowen Crescent
Melbourne,
VIC 3004
Australia
No. of shares : 2 Ordinary Shares
% of shares : 100%
Structure
Name : S. LEW CUSTODIANS PTY. LTD.
Affiliation type : Ultimate
Holding Company
Address : Level 3, 7 Bowen Crescent
Melbourne,
VIC 3004
Australia
Name : NUMEN PTY. LIMITED
Affiliation type : Intermediate Holding Company
Address : Level 3, 7 Bowen Crescent
Melbourne,
VIC 3004
Australia
Name : P. LEW INVESTMENTS PTY. LTD.
Affiliation type : Parent
Company
Address : Level 3, 7 Bowen Crescent
Melbourne,
VIC 3004
Australia
Name : SECOND RETAIL INVESTMENTS PTY LTD
Affiliation type : Sister
Company
Address : Level 3, 7 Bowen Crescent
Melbourne,
VIC 3004
Australia
Name : STEAMBROOK PTY LTD
Affiliation type : Sister
Company
Address : Level 5, 425 St Kilda Road
Melbourne,
VIC 3004
Australia
Bank Details
Name of bank : National Australia Bank 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.
FINANCIAL
Description
Source of financial statement
: External Sources
Financial statement date : 30/06/11
Type of accounts : Estimated key figures
Currency : Australia Dollar
(AUD)
Exchange rate : 1 USD = AUD 0.98 as of
20-06-2012
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 : 10,000,000
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 $12.5 million, and
-The company and any entities it controls have fewer than 50 employees at the end of the financial year.
Main activities :
The Subject engages in import
& retail of apparels and fashion products.
The Subject owned the rights to open French Connection franchised stores and distribute its products in Australia.
French Connection is a UK-based global retailer and wholesaler of fashion clothing and accessories.
French Connection distributes its branded ladies' wear and menswear through a network of owned stores in the UK, US and Canada, through franchised stores in major markets around the world (Australia, Hong Kong, China, India), through concessions in department stores in the UK and also sells its products to other multi-brand retailers.
Product & services :
· Apparels
· Men's and women's toiletries
· Sunglasses and opticals
· Watches
· Shoes
Brand : French Connection
Purchases
International : India, Hong Kong, China, Europe
Sales
Local : Yes
International : No exports.
Property &
Assets
Premises : The Subject operates from
premises located at the verified heading
address
consisting of an administrative office.
Branches : In addition, the Subject operates approximately 43 owned retail stores
Central bank : Reserve Bank of Australia
Reserve of foreign exchange & gold : US$ 41.385 billion
Gross domestic product – GDP : US$ 1.235 trillion
GPP (Purchasing power parity) : 918.529 billion of International dollars
GDP per capita - current prices : US$ 55,590
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 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 2007: US$45,477 million
2008: US$46,722 million
2009: US$22,572 million
FDI Outflows 2007: US$16,822 million
2008: US$32,819 million
2009: US$18,426 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
: 74.00%
Purchase Term
International : Prepayment, Telegraphic
transfer, Credit 30-90 days
Sales Term
Local : Cash, Credit card, Bank
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
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.55.86 |
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UK Pound |
1 |
Rs.87.93 |
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Euro |
1 |
Rs.70.88 |
INFORMATION DETAILS
|
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.