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Report Date : |
29.06.2012 |
IDENTIFICATION DETAILS
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Name : |
SOVEREIGN
TRADING PTY LTD |
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Formerly Known As : |
MOMIS PTY. LTD. (initial) |
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Registered Office : |
C/o CADWALLADER MARINUCCI VEAL & CO |
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Country : |
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Date of Incorporation : |
30.09.1986 |
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Com. Reg. No.: |
006641489 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Import, distribution and retail sales of tiles. |
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No. of Employees : |
15 employees |
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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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
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Australia |
A1 |
A1 |
|
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 : SOVEREIGN TRADING PTY
LTD
Other style /
Business name : TILE MART
Business address :
502-506 Geelong Road
Town : Tottenham
Province : Victoria
Zip/postal code : 3012
Country : Australia
Tel : +61 3
93147300
Fax : +61 3
93142987
Website : www.tilemart.com.au
Registered address
: C/o CADWALLADER
MARINUCCI VEAL & CO
49 Keilor Road
Town : Essendon
Province : Victoria
Zip/postal code : 3040
Country : Australia
SUMMARY DETAILS
Executive Summary
Date founded or
registered : 30/09/1986
Legal form : Australian
Proprietary Company
Chief executive : Michael Santucci
Issued & paid
up capital : AUD 2
Sales turnover : AUD 5,000,000 (Estimated
Non-consolidated 12 months, 30/06/2011)
Line of business :
Import, distribution and retail sales of tiles.
Staff employed : 15 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 payment delays noted
Registry Data
Registration date
: 30/09/1986
Legal form : Australian
Proprietary Company
Registration no Australian Company
Number: 006641489
Registered
authority : Australian
Securities and Investments Commission
Fiscal/ Tax no : Australian Business
Number: 24006641489
Registry status : Live/Active
Previous name :
TILE MART PTY. LTD.
MOMIS PTY. LTD. (initial)
Change of legal
form : None reported.
Key Management
Name : Michael Santucci
Designation : Managing Director
Appointments
Name : Michael Santucci
Designation : Director and Company Secretary
Appointment date :
17/12/86
Address : 60 Oakbank Road
Keilor North, VIC 3036
Australia
Biography : Born on 22-03-1947 in
Sasinopo, Italy.
Staff employed : 15 employees
Composition
Authorized Capital
: AUD 2
No of shares : 2 Ordinary Shares
Share par value : AUD 1
Issued capital : AUD 2
Paid up capital : AUD 2
How listed : Full
List
Composition
Shareholder name :
Marisa Santucci
Address : 60 Oakbank Road
Keilor North, VIC 3036
Australia
No. of shares : 1 Ordinary Share
% of shares : 50%
Shareholder name :
Michael Santucci
Address : 60 Oakbank Road
Keilor North, VIC 3036
Australia
No. of shares : 1 Ordinary Share
% of shares : 50%
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 0.99 as of 27-06-2012
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 $12.5 million, and
-The company and any entities it controls have fewer than 50 employees
at the
end of the financial year.
Main activities : The Subject engages in import,
distribution and retail sales of tiles.
Purchases
International :
India, Turkey, China, Italy, Spain, Thailand, Malaysia
Sales
Local : Yes
International : No
exports.
Property & Assets
Premises : The Subject operates from premises
located at the verified heading
address consisting of an administrative office, warehouse and showroom.
Branches : In addition, the Subject operates from branch showroom
located at:
48 Frankston-Dandenong Road
Dandenong South, VIC 3175
Australia
Tel: +61 3 97940433
15-17 West Fyans Street
Newtown, VIC 3220
Australia
Tel: +61 3 52242941
1331 Sydney Road
Fawkner, VIC 3060
Australia
Tel: +61 3 93590070
343-345 Old Geelong Road
Hoppers Crossing, VIC 3029
Australia
Tel: +61 2 93600200
Gross Domestic Products (GDP) & Economic
Overview
Central bank : Reserve
Bank of Australia
Reserve of foreign
exchange & gold : US$ 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, Bank transfer, Credit 30-90 days
Sales Term
Local : Prepayment,
Cash, 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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.92 |
|
|
1 |
Rs.88.91 |
|
Euro |
1 |
Rs.71.25 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
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 |
|
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.