MIRA INFORM REPORT
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Report Date : |
23.06.2012 |
IDENTIFICATION DETAILS
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Name : |
LOWDON PTY LTD |
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Registered Office : |
C/O Bacchus Associates Pty Limited, The Cooperage, Suite 9, Level 2, 56 Bowman Street, Pyrmont, New South Wales, Zip/Postal Code 2009 |
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Country : |
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Date of Incorporation : |
17.09.1981 |
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Com. Reg. No.: |
002266953 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Import and distribution of natural stone products and various types of tiles |
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No. of Employees : |
17 |
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 : LOWDON PTY LTD
Other style / Business name :
ARTISTIC STONE
Business address : 99 Silverwater Road
Town : Silverwater
Province : New South Wales
Zip/postal code : 2128
Country : Australia
Tel : +61 2 97486995
Fax : +61 2 96481901
Email : info@artisticstone.com.au
Website : www.artisticstone.com.au
Registered address : C/O BACCHUS ASSOCIATES PTY
LIMITED
The
Cooperage, Suite 9, Level 2
56 Bowman
Street
Town : Pyrmont
Province : New South Wales
Zip/postal code : 2009
Country : Australia
Executive Summary
Date founded or registered : 17/09/1981
Legal form : Australian
Proprietary Company
Chief executive : Peter Maniscalco
Issued & paid up capital
: AUD 8
Sales turnover : AUD 4,000,000 (Estimated
Non-consolidated 12 months, 30/06/2011)
Line of business : Import and distribution of
natural stone products and various types of tiles.
Staff employed : 17 employees
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 : 17/09/1981
Legal form : Australian Proprietary Company
Registration no Australian Company Number:
002266953
Registered authority : Australian Securities and Investments
Commission
Fiscal/ Tax no : Australian Business Number:
91002266953
Registry status : Live/Active
Previous name : None reported.
Change of legal form : None reported.
Key Management
Name : Peter Maniscalco
Designation : Managing Director
Appointments
Name : Peter Maniscalco
Designation : Director and Company Secretary
Appointment date : 12/11/98
Address : 2 Francis Street
Hunters
Hill, NSW 2110
Australia
Biography : Born on 22-10-1950 in Poggioreale,
Italy.
Staff employed : 17 employees
Composition
Authorized Capital : AUD 8
No of shares : 2 Class A Ordinary Shares / 2
Class C Ordinary Shares
Share par value : AUD 2
Issued capital : AUD 8
Paid up capital : AUD
8
How listed : Full List
Composition
Shareholder name : Peter Maniscalco
Address : 2 Francis Street
Hunters
Hill, NSW 2110
Australia
No. of shares : 1 Class A Ordinary Share
Shareholder name : Maria Maniscalco
Address : 2 Francis Street
Hunters
Hill, NSW 2110
Australia
No. of shares : 1 Class A Ordinary Share
Shareholder name : Roberto Maniscalco
Address : 7 Ingham Avenue
Five Dock,
NSW 2046
Australia
No. of shares : 1 Class C Ordinary Share
Shareholder name : Deborah Smith
Address : 2329 Ensenada Way
San Mateo,
CA 94403
United
States
No. of shares : 1 Class C Ordinary Share
Structure
Name : ARTISTIC STONE PRIVATE
LIMITED
Affiliation type : Associate
Address : India
Comments : Dormant.
Name : ARTISTIC STONE GALLERY
INC.
Affiliation type : Associate
Address : 3575 Haven Avenue
Menlo
Park, CA 94025
United
States
Comments : Import & distribution of
natural stone mosaics and various types of tiles.
Bank Details
Name of bank : Westpac Banking Corporation 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
: External Sources
Financial statement date : 30/06/11
Type of accounts : Estimated key figures
Currency : Australia Dollar
(AUD)
Exchange rate : 1 USD = AUD 1.00 as of
22-06-2012
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 : 4,000,000
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 $12.5
million, and
-The company and any entities it controls have fewer than 50
employees at the end of the financial year.
Main activities : The Subject engages in import and
distribution of natural stone products
and various types of tiles.
Product & services :
· Natural stone mosaics
· Tiles: Glass, marble, mosaics, porcelain tiles
· Medallions
· Travertine
· Landscaping Stones
· Bathroom Sinks
· Bathtubs
· Pebbles
· Slate and marble mosaics
Brand
Artistic Stone
Purchases
International : India, Turkey, Italy, Spain,
Thailand, Malaysia
Sales
Local : Yes
International : Asian countries, Oceania
Property &
Assets
Premises : The Subject operates from
premises located at the verified heading
address consisting of showroom, administrative office and
warehouse.
Branches : None reported.
Central bank : Reserve Bank of Australia
Reserve of foreign exchange & gold : US$ 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
30-90 days
Sales Term
Local : Prepayment, Bank transfer, Credit
30-90 days
International : Prepayment, 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
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.56.99 |
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UK Pound |
1 |
Rs.88.97 |
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Euro |
1 |
Rs.71.57 |
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.