MIRA INFORM REPORT
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Report Date : |
21.03.2012 |
IDENTIFICATION DETAILS
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Name : |
THE RUG COLLECTION PTY LTD |
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Registered Office : |
C/O Caunt And Lowbeer Chartered Accountant,Suite 10, 871 Pacific Highway, Chatswood, New South Wales, Zip/Postal Code 067 |
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Country : |
Australia |
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Date of Incorporation : |
09.11.2007 |
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Com. Reg. No.: |
128399815 |
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Legal Form : |
Australian Proprietary
Company |
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Line of Business : |
Distributor and retailer of rugs |
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No. of Employees : |
05 |
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 60,000 |
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Status : |
Small Company |
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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 – September 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 : THE RUG COLLECTION PTY LTD
Business address : 10 Treforest Drive
Town : Clayton
Province : Victoria
Zip/postal code : 3168
Country : Australia
Tel : +61 3 85553584
Fax : +61 3 80806465
Email : sales@therugcollection.com.au
Website : www.therugcollection.com.au
Registered address : C/o CAUNT AND LOWBEER CHARTERED ACCOUNTANTS
Suite 10, 871 Pacific Highway
Town : Chatswood
Province : New South Wales
Zip/postal code : 067
Country : Australia
Postal address : P.O. Box 5172
Town : Clayton
Province : Victoria
Zip/postal code : 3168
Country Australia
Executive Summary
Date founded or registered : 09/11/2007
Legal form : Australian
Proprietary Company
Chief executive : Simon Mark Robinson
Issued & paid up capital
: AUD 143
Sales turnover : AUD 2,000,000 (Estimated
Non-consolidated 12 months, 30/06/2011)
Line of business : Distributor and retailer
of rugs.
Staff employed : 5 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
acceptable
Detrimental : No detrimental records found
Payment history : No payment delays noted
Credit amount suggestion : USD 60,000
Credit amount asked : Not described.
Registry Data
Registration date : 09/11/2007
Legal form : Australian
Proprietary Company
Registration no Australian Company
Number: 128399815
Registered authority : Australian Securities and
Investments Commission
Fiscal/ Tax no : Australian Business
Number: 89128399815
Registry status : Live/Active
Previous name : None reported.
Change of legal form : None reported.
Key Management
Name : Simon Mark Robinson
Designation : Managing Director
BOARD
Appointments
Name : Simon Mark Robinson
Designation : Director
Appointment date : 17/04/09
Address : 39 Horne Street
Elsternwick,
VIC 3185
Australia
Biography : Born on 20-02-1977 in
Adelaide, South Australia, Australia.
Name : Yoseph Tal
Designation : Director
Appointment date : 03/04/09
Address : 5A Strickland Street
Rose Bay,
NSW 2029
Australia
Biography : Born on 30-09-1959 in Haifa,
Israel.
Staff employed : 5 employees
Composition
Authorized Capital : AUD 143
No of shares : 100 Ordinary Shares / 43 AA Class
Shares
Share par value : AUD 1
Issued capital : AUD 143
Paid up capital : AUD
143
How listed : Full List
Composition
Shareholder name : Simon Mark Robinson
Address : 39 Horne Street
Elsternwick,
VIC 3185
Australia
No. of shares : 43 Class AA Shares
Shareholder name : Peter Edward Caunt
Address : 48 Cook Terrace
Mona Vale,
NSW 2103
Australia
No. of shares : 100 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 0.94 as of
19-03-2012
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 : 2,000,000
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 $12.5 million, and
-The company and any entities it controls
have fewer than 50 employees at the end of the financial year.
Main activities : The Subject is engaged
as distributor and retailer of rugs.
Product & services :
Plain, textured and patterned
floor rugs
Custom Made Rugs
Brand : Custom Leather Hides
Designer Boys
Garden Room by Jamie Durie
Signature
KAS
Julu Wajaar Indigenous
Collection
Nicola Cerini
Shags & Textured Rugs
Purchases
International : India
Sales
Local : Yes
International No exports.
Property &
Assets
Premises : The Subject operates from
premises located at the verified heading address consisting of administrative
office and warehouse.
Branches : In addition, the Subject
operates from a retail showroom located at:
Shop E,
516-524 Bridge Road
Richmond,
VIC 3121
Australia
Tel: +61 3 94215133
Central bank : Reserve Bank of Australia
Reserve of foreign exchange & gold : US$ 43.879 billion
Gross domestic product – GDP : US$ 1.448 trillion
GPP (Purchasing power parity) : 918.529 billion of International dollars
GDP per capita - current prices : US$ 64,351
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 :
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$46,722 million
2009: US$22,572 million
2010: US$32,472 million
FDI Outflows 2008: US$32,819 million
2009: US$18,426 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 : Prepayment, Telegraphic
transfer, Credit 30-60 days
Sales Term
Local : Cash, Prepayment,
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.50.25 |
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UK Pound |
1 |
Rs.79.76 |
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Euro |
1 |
Rs.66.52 |
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.