MIRA INFORM REPORT
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Report Date : |
30.06.2012 |
IDENTIFICATION DETAILS
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Name : |
AUTEX PTY. LTD. |
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Registered Office : |
Level 17, |
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Country : |
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Date of Incorporation : |
06.01.1992 |
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Com. Reg. No.: |
054713441 |
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Legal Form : |
Australian Proprietary
Company |
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Line of Business : |
Manufacturing and distribution of wall coverings, polyester insulation etc |
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No. of Employees : |
160 employees (Subject) |
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 : AUTEX PTY. LTD.
Business address : 166 Bamfield Road
Town : Heidelberg West
Province : Victoria
Zip/postal code : 3081
Country : Australia
Tel : +61 3 94576700
Fax : +61 3 94571020
Email : enquiries@autex.com.au
Website : www.autex.com.au
Registered address : Level 17, 181 William Street
Town : Melbourne
Province : Victoria
Zip/postal code : 3000
Country : Australia
Postal address : P.O. Box 5099
Town : Heidelberg West
Province : Victoria
Zip/postal code : 3081
Country : Australia
Executive Summary
Date founded or registered : 06/01/1992
Legal form : Australian
Proprietary Company
Chief executive : Warrick Bruce Batt
Issued & paid up capital
: AUD 100
Sales turnover : AUD 32,000,000 (Estimated
Non-consolidated 12 months, 31/03/2011)
Line of business : Manufacturing and
distribution of wall coverings, polyester insulation etc.
Staff employed : 160 employees (Subject)
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 good
Organization structure : Organizational structure is stable
Detrimental : No detrimental records found
Payment history : No payment delays noted
Comments : Larger credit can
still be granted.
Registry Data
Registration date : 06/01/1992
Legal form : Australian Proprietary Company
Registration no Australian Company Number:
054713441
Registered authority : Australian Securities & Investments
Commission
Fiscal/ Tax no : Australian Business Number:
84495094585
Registry status : Live/Active
Previous name : None reported.
Change of legal form : None reported.
Key Management
Name : Warrick Bruce Batt
Designation : Managing Director
Name : Rhonda Smith
Designation : Manager
Appointments
Name : William Randolph
Cunningham
Designation : Director
Appointment date : 17/03/92
Address : 326 Beach Road
Campbells
Bay, North Shore City 0630
New
Zealand
Biography : Born on 01-05-1940 in United
Kingdom.
Name : Warrick Bruce Batt
Designation : Director and Company Secretary
Appointment date : 01/06/06
Address : 55 Taparoo Road
Templestowe,
VIC 3106
Australia
Biography : Born on 28-12-1965 in Auckland,
New Zealand.
Name : Andrew Macleod
Cunningham
Designation : Director
Appointment date : 01/06/06
Address : 371 Beach Road
Campbells
Bay, North Shore City 0630
New
Zealand
Biography : Born on 22-05-1970 in
Auckland, New Zealand.
Name : David
Robinson
Designation : Director
Appointment date : 17/03/92
Address : 290 Jervois Road
Herne Bay,
Auckland 1011
New
Zealand
Biography : Born on 26-03-1937 in
Skipton, United Kingdom.
Name : Mark Robinson
Designation : Director
Appointment date : 27/01/00
Address : 10 Birchwood Grove
Greenhithe,
North Shore City 0632
New
Zealand
Biography : Born on 14-11-1964 in United
Kingdom.
Staff employed : 160
employees (Subject
Composition
Authorized Capital : AUD 100
No of shares : 100 Ordinary Shares
Share par value : AUD 1
Issued capital : AUD 100
Paid up capital : AUD
100
How listed : Full List
Composition
Shareholder name : AUTEX INDUSTRIES LIMITED
Address : 702-718 Rosebank Road
Avondale
1026, Auckland
New
Zealand
No. of shares : 100 Ordinary Shares
% of shares : 100%
Structure
Name : AUTEX INTERNATIONAL LIMITED
Affiliation type : Ultimate Holding Company
Address : 702-718 Rosebank Road
Avondale,
Auckland 1026
New
Zealand
Name : AUTEX INDUSTRIES LIMITED
Affiliation type : Parent Company
Address : 702-718 Rosebank Road Avondale
1026 Auckland
New Zealand
Comments : Manufacturer of carpet, wall coverings,
insulation and bedware,polypropylene
needle-punched carpets, floor mats, carpet tiles, non-slip
flooring, automotive and
outdoor carpets.
Name : AUTEX PROPERTIES LIMITED
Affiliation type : Sister
Company
Address : 702-718 Rosebank Road
Avondale, Auckland
1026
New
Zealand
Name : AUTEX QUEENSLAND PTY LTD
Affiliation type : Sister
Company
Address : 29 Demand Avenue
Arundel,
QLD 4214
Australia
Name : AUTEX INDUSTRIES LTD (BRANCH)
Affiliation type : Sister
Company
Address : Office No. 5Ebg28
Dubai
Airport Free Zone
P.O. Box
54948
Dubai
United
Arab Emirates
Bank Details
Name of bank : Westpac Banking Corporation
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 :
Unsatisfied Charges:
ASIC Charge Number: 355706
Date Registered: 09-09-1992
Charge type: Both Fixed &
Floating
Date Created: 12-08-1992
Chargees Name: WESTPAC
BANKING CORPORATION
Legal Fillings
Bankruptcy fillings : None reported.
Court judgements : None reported.
Tax liens : None reported.
Others : None reported.
Description
Source of financial statement
: Provided by the Subject
Financial statement date : 31/03/11
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 : 31/03/11
Length of accounts : 12 months
Sale turnover / Income : 32,000,000
Comments :
The estimated turnover was provided by Ms. Rhonda Smith.
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.
The Subject meets the above criteria however is still exempted
from filling their financials by the Government of Australia.
Main activities : The Subject is engaged in
manufacturing and distribution of wall coverings,
polyester insulation etc.
The Subject also imports and distributes carpet, wall coverings,
insulation and bedware, floor mats, carpet tiles, non-slip flooring, automotive
and outdoor carpets sourced from the Subject's Parent Company in New Zealand.
Subject is part of Autex Group.
The Autex Group includes ultimate holding company Autex International Limited, New Zealand-based manufacturing Autex Industries Limited, Australian-based manufacturing Autex Pty Limited (Subject), and other
interests Autex Properties Limited and Autex Investments Limited.
Product &
services :
· Autex Bedware - wool and polyester bedding products
· Autex Carpets - commercial carpets
· Autex Insulation - thermal and acoustic polyester insulation for commercial and residential
· Autex Wall Coverings - polypropylene plush and acoustic wall covering
· BaffleBlock - acoustic polyester Composition - acoustic wall coverings
· Decord - marine, commercial and outdoor ribbed carpet
· Dream Maker - polyester bedding products
· GreenStuf - thermal and acoustic polyester Performer - marine and automotive carpets and linings
· Quietstuf - acoustic polyester
· Vertiface - plush wall coverings
Brand : Autex
Purchases
International : China, Taiwan
Sales
Local : Yes
International : New Zealand
Property &
Assets
Premises : The Subject operates from
premises located at the verified heading
address
consisting of production facilities, warehouse and administrative
office.
Branches : In addition, the Subject
operates from branch offices and production
facilities located at:
16
Bushells Place
Wetherill
Park, NSW 2164
Australia
Tel: +61 2
97563122
195 Bank
Street
East
Victoria Park
Perth, WA
6101
Australia
Tel: +61 8 93551911
Central bank : Reserve Bank of Australia
Reserve of foreign exchange & gold : US$ 43.879 billion
Gross domestic product – GDP : US$ 1.586 trillion
GPP (Purchasing power parity) : 954.296 billion of International dollars
GDP per capita - current prices : US$ 68,916
GDP - composition by sector : agriculture: 4.0% industry: 25.6% services: 70.4%
Inflation :
2009: 1.8%
2010: 2.8%
2011: 3.4%
Unemployment rate
2009: 5.6 %
2010: 5.2 %
2011: 5.1%
Public debt
(General Government gross
debt as a % GDP)
2009: 16.9%
2010: 20.4
%
2011: 22.9 %
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 :
Westpac Banking Group (Major Banks),
BHP Billiton (Diversified Metals & Mining), Commonwealth Bank (Major
Banks), National Australia Bank (Major Banks), ANZ Banking (Major Banks),
Telstra (Telecommunications services), Wesfarmers (Food Retail)
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 : 2008:
US$46,843 million
2009: US$25,716 million
2010: US$32,472 million
FDI Outflows : 2008:
US$33,604 million
2009: US$16,160 million
2010: US$26,431 million
Best countries for doing business : 10 out
of 183 countries
Global competitiveness ranking : 20
(ranking by country on a basis of 142, 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
: 76.00%
Purchase Term
International : L/C, Prepayment, Credit 30 days
Sales Term
Local : Credit 30 days
International : Credit 30 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.56.31 |
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UK Pound |
1 |
Rs.88.06 |
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Euro |
1 |
Rs.70.91 |
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.