MIRA INFORM REPORT
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Report Date : |
23.06.2012 |
IDENTIFICATION DETAILS
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Name : |
QUEST CARPET MANUFACTURERS PTY. LTD. |
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Formerly Known As : |
NICARA PTY. LIMITED |
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Registered Office : |
Level 10, |
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Country : |
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Date of Incorporation : |
16.05.1978 |
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Com. Reg. No.: |
005435567 |
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Legal Form : |
Australian Proprietary
Company |
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Line of Business : |
Import, manufacturing and
distribution of carpets and rugs. |
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No. of Employees : |
65 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 190,000 |
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Status : |
Moderate |
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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 |
Verified Address
Subject name : QUEST CARPET MANUFACTURERS PTY.
LTD.
Business address :
Town : Dandenong South
Province :
Zip/postal code : 3164
Country :
Tel : +61 3 97066795
Fax : +61 3 97066395
Email : info@questcarpet.com.au
Website : www.questcarpet.com.au
Registered address : Level 10,
Town :
Province :
Zip/postal code : 3004
Country :
Postal address :
Town : Dandenong South
Province : Victoria
Zip/postal code : 3164
Country : Australia
Executive Summary
Date founded or registered : 16/05/1978
Legal form : Australian
Proprietary Company
Chief executive : John Wright Sunderland
Issued & paid up capital
: AUD 12
Sales turnover : AUD 5,000,000 (Estimated
Non-consolidated 12 months, 30/06/2011)
Line of business : Import, manufacturing and
distribution of carpets and rugs.
Staff employed : 65 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 fair
Organization structure : Organizational structure is stable
Detrimental : No detrimental records found
Payment history : No payment delays noted
Credit amount suggestion : USD 190,000
Credit amount asked : USD 500,000
Registry Data
Registration date : 16/05/1978
Legal form : Australian Proprietary Company
Registration no Australian Company Number:
005435567
Registered authority : Australian Securities and Investments
Commission
Fiscal/ Tax no : Australian Business Number:
85173658515
Registry status : Live/Active
Previous name : NICARA PTY. LIMITED (initial)
Change of legal form : None reported.
Key Management
Name : John Wright Sunderland
Designation : Managing Director
Appointments
Name : John
Wright Sunderland
Designation : Director
Appointment date : 01/06/78
Address : 14 Bay Avenue
Mount
Eliza, VIC 3930
Australia
Biography : Born on 09/08/1936 in
Keighley, United Kingdom.
Name : Roderick Mitchell Payne
Designation : Director
Appointment date : 01/06/78
Address : 10B Elizabeth Street
Malvern,
VIC 3144
Australia
Biography : Born on 22/01/1945 in
Melbourne, Victoria, Australia.
Name : John Stephen Hartley
Sunderland
Designation : Director
Appointment date : 18/03/87
Address : 51 Glass Street
Richmond, VIC 3121
Australia
Biography : Born on 16/05/1961 in
Kieghley, United Kingdom.
Name : Roderick Mitchell Payne
Designation : Company Secretary
Appointment date : 01/06/78
Address : 10B Elizabeth Street
Malvern,
VIC 3144
Australia
Biography : Born on 22/01/1945 in
Melbourne, Victoria, Australia.
Staff employed : 65 employees
Composition
Authorized Capital : AUD 12
No of shares : 12 Ordinary Shares
Share par value : AUD 1
Issued capital : AUD 12
Paid up capital : AUD
12
How listed : Full List
Composition
Shareholder name : Roderick Mitchell Payne
Address : 10B Elizabeth Street
Malvern,
VIC 3144
Australia
No. of shares 4 Ordinary Shares
Shareholder name : John Wright Sunderland
Address : 14 Bay Avenue
Mount
Eliza, VIC 3930
Australia
No. of shares : 4 Ordinary Shares
Shareholder name : Stephen Sunderland
Address : 51 Glass Street
Richmond,
VIC 3121
Australia
No. of shares 4 Ordinary 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
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 : 5,000,000
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 $12.5
million, and
-The company and any entities it controls have fewer than 50
employees at the end of the financial year.
Main activities : The Subject engages in import,
manufacturing and distribution of carpets
and rugs.
Product & services :
· Wool carpets
· Solution Dyed Nylon Carpet
· Polypropylene carpet
Brand
Quest Carpets
Purchases
International : New Zealand, India
Sales
Local : Yes
International : Oceania, Asia
Property &
Assets
Premises : The Subject operates from premises
located at the verified heading address consisting of
production facilities, warehouse and administrative office.
Branches : None reported.
Central bank : Reserve Bank of Australia
Reserve of foreign exchange & gold : US$ 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, D/P,
Credit 30-90 days
Sales Term
Local : Prepayment, Bank transfer, Credit
30-90 days
International : Prepayment, Telegraphic transfer, D/P,
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.