MIRA INFORM REPORT
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Report Date : |
21.06.2012 |
IDENTIFICATION DETAILS
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Name : |
VINSAI PETROLEUM PTY LTD |
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Registered Office : |
Unit 4, |
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Country : |
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Date of Incorporation : |
27.07.2004 |
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Com. Reg. No.: |
110230772 |
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Legal Form : |
Australian
Proprietary Company |
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Line of Business : |
Import & distribution
of petrol pumps tanks & related equipment. |
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No. of Employees : |
04 |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment
Behaviour : |
Slow |
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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 : VINSAI PETROLEUM PTY LTD
Business address : 1 Pacific Pde
Town : Dee Why
Province : New South Wales
Zip/postal code : 2099
Country : Australia
Tel : +61 2 99826581
Registered address : Unit 4, 16 Kokaribb Road
Town : Carnegie
Province : Victoria
Zip/postal code : 3163
Country : Australia
Executive Summary
Date founded or registered : 27/07/2004
Legal form
:
Australian Proprietary Company
Chief executive : Hari Krishna Reddy Pailla
Issued & paid up capital
: AUD 4
Line of business : Import & distribution
of petrol pumps tanks & related equipment.
Staff employed : 4 employees
Company Analysis
Country risk : Country risk is minimal
Operation trend : Operational trend is
declining
Management experience : Management is modestly experienced
Financial performance : Financial
performance is undetermined
Organization structure : Organizational structure is
acceptable
Detrimental : No detrimental records found
Payment history : No payment delays noted
Registry Data
Registration date : 27/07/2004
Legal form : Australian Proprietary
Company
Registration no Australian Company Number: 110230772
Registered authority : Australian Securities and Investments
Commission
Fiscal/ Tax no : Australian Business Number:
45110230772
Registry status : Live/Active
Previous name : None reported.
Change of legal form : None reported.
Key Management
Name : Hari Krishna Reddy Pailla
Designation : Managing Director
Appointments
Name : Hari Krishna Reddy
Pailla
Designation : Director and Company Secretary
Appointment date : 15/05/09
Address : Unit 4, 16 Kokaribb Road
Carnegie
VIC 3163
Australia
Biography : Born on 01-05-1985 in
Hyderabad, India.
Staff employed : 4 employees
Composition
Authorized Capital : AUD 4
No of shares : 2 A Shares / 2 B Shares
Share par value : AUD 1
Issued capital : AUD 4
Paid up capital : AUD
4
How listed : Full List
Composition
Shareholder name : Hari Krishna Reddy Pailla
Address : Unit 4, 16 Kokaribb Road
Carnegie
VIC 3163
Australia
No. of shares : 2 A Shares / 2 B Shares
Structure
Related companies and
corporate affiliations comments : None reported.
Bank Details
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 : None reported.
Legal Fillings
Bankruptcy fillings : None reported.
Court judgements : None reported.
Tax liens : None reported.
Others : None reported.
Description
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 $12.5 million, and
-The company and any entities it controls have fewer than 50 employees at the end of the financial year.
Main activities : The Subject is engaged in import & distribution of petrol pumps tanks & related equipment.
Purchases
International : India
Sales
Local : Yes
International : No exports.
Property &
Assets
Premises : The Subject operates from
premises located at the verified heading
address consisting of an administrative office and warehouse.
Branches : None reported.
Central bank : Reserve Bank of Australia
Reserve of foreign exchange & gold : US$ 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 30-60 days
Sales Term
Local : Prepayment, Telegraphic
transfer, 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.55.86 |
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UK Pound |
1 |
Rs.87.93 |
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Euro |
1 |
Rs.70.88 |
INFORMATION DETAILS
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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.