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Report Date : |
22.03.2012 |
IDENTIFICATION DETAILS
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Name : |
G B - COMMTRADE PTY. LIMITED |
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Registered Office : |
'Building F' Unit F36 |
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Country : |
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Date of Incorporation : |
18.06.1999 |
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Com. Reg. No.: |
088153093 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Import and distribution of nuts and dried fruit. |
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No. of Employees : |
12 employees |
RATING & COMMENTS
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MIRAs 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 80,000 |
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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 September 30, 2011
|
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 : G B - COMMTRADE PTY. LIMITED
Business address :
'Building F' Unit F36
Lane Cove West Business Park
16 Mars Road
Town : Lane Cove
Province : New South Wales
Zip/postal code : 2066
Country : Australia
Tel : +61 2 94201222
Fax : +61 2 94202288
Website : www.gbcommtrade.com
Registered address
: 'Building F' Unit F36
Lane Cove West Business Park
16 Mars Road
Town : Lane Cove
Province : New South Wales
Zip/postal code : 2066
Country : Australia
Postal address : P.O. Box 175
Town : North Ryde
Province : New South Wales
Zip/postal code : 1670
Country : Australia
Executive Summary
Date founded or
registered : 18/06/1999
Legal form : Australian
Proprietary Company
Chief executive : Gerard Campbell Brunton
Issued & paid
up capital : AUD 1,000
Line of business :
Import and
distribution of nuts and dried fruit.
Staff employed : 12 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 undetermined
Organization
structure : Organizational
structure is stable
Detrimental : No detrimental records found
Payment history : No payment delays noted
Credit amount
suggestion : USD 80,000
Credit amount
asked : Not described.
Registry Data
Registration date
: 18/06/1999
Legal form : Australian
Proprietary Company
Registration no Australian Company
Number: 088153093
Registered
authority : Australian
Securities and Investments Commission
Fiscal/ Tax no : Australian Business Number:
46088153093
Registry status : Live/Active
Previous name : None reported.
Change of legal
form : None reported.
Key Management
Name : Gerard Campbell Brunton
Designation : Managing Director
Name : Azim Rauff
Designation : Logistics Manager
Appointments
Name : Gerard Campbell Brunton
Designation : Director and Company Secretary
Appointment date :
18/06/99
Address : 21 Malvina Street
Ryde, NSW 2112
Australia
Biography : Born on 07-11-1961 in Sydney,
New South Wales, Australia.
Staff employed : 12 employees
Key Advisors
Auditors : BDO
2 Market Street
Sydney, NSW 2000
Australia
Composition
Authorized Capital
: AUD 1,000
No of shares : 1,000 Ordinary Shares
Share par value : AUD 1
Issued capital : AUD 1,000
Paid up capital : AUD 1,000
How listed : Full
List
Composition
Shareholder name :
GB AUSTRALIA PTY LTD
Address : 21 Malvina Street
Ryde, NSW 2112
Australia
No. of shares : 500 Ordinary Shares
% of shares : 50%
Shareholder name :
G & K MANAGEMENT PTY LIMITED
Address : 21 Malvina Street
Ryde, NSW 2112
Australia
No. of shares : 500 Ordinary Shares
% of shares : 50%
Structure
Name : GB
AUSTRALIA PTY LTD
Affiliation type :
Shareholder
Address : 21 Malvina Street
Ryde, NSW 2112
Australia
Name : G & K MANAGEMENT
PTY LIMITED
Affiliation type :
Shareholder
Address : 21 Malvina Street
Ryde, NSW 2112
Australia
Bank Details
Name of bank : Australia And New Zealand Banking
Group 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 : Company accused over nuts
scandal
November 24, 2003
Australia's second-largest supermarket chain is investigating how it
came to be a
victim of a scam involving more than 14 tonnes of fake Australian
macadamia
nuts. Documents seen by the Herald show the nut kernels, worth more than
$200,000, were imported from Kenya, repackaged in boxes labelled product of
Australia and sold to hundreds of shops. The nuts have been sold in bulk in
more than 300 Coles and Bi-Lo shops in NSW and Queensland, as well as other
shops and supermarkets. Coles said it had been made aware of the nut
substitution last Tuesday, and was relabelling macadamias in its shops to make
it clear to customers that the nuts were a mix of local and imported ones. It
said it wanted to revert to Australian nuts "as soon as practicable".
The company at the centre of the scandal, Macadamia Industries
Australia, is one of the largest Australian processors of the nuts, which are
the only consumer crop indigenous to Australia.
The company's acting chief executive, Stephen Brierley, said MIA had
imported
the nuts because it could not get enough local macadamias to meet its
contract
with Coles. The local harvest was down dramatically due to drought.
The false labelling was a packaging error, he said.
"We apologised to Coles for this error. We have got our hands up
and told them
that it won't happen again."
The documents show that in August the company took delivery of 14,175
kilograms of the kernels, worth $223,000 that had been imported from
Kenya by a North Sydney broker, GB-Commtrade Pty Ltd.
Mick Evans, who was recently retrenched from his job as the company's
operations manager, said a shipping container of the nuts was delivered
to the
company's processing works at Wollongbar, near Lismore, on Saturday
morning,
August 30, when only a handful of staff were working. They were
unpacked, and
the packaging showing that they were Kenyan produce was immediately
burned,
Mr Evans said. Staff were told not to discuss the shipment. Mr Evans
said he had protested to company executives, but was told to mind his own
business. The kernels had been mixed with Australian nuts and repackaged into
11.34
kilogram boxes for Coles, each stamped Product of Australia. Mr Brierley
denied
that the Kenyan nuts had been used in any other brand - the company
packs
own-brand Pacific Gold macadamias labelled "Australia's finest
quality" and the
Judy Grainger brand, sold in duty-free shops. Mr Brierley would not say
now much of the Kenyan product had already been
sold. The imported nuts that remained in storage would now be exported
and not
sold in Australia, he said. Mr Evans said it was hypocritical of the
company to pass off imported nuts as Australian as it had been publicly
campaigning for the local industry and criticizing competitors who had their
Australian-grown crop cracked in China to cut costs. He said the substitution
scandal could endanger the livelihoods of more than 1000 macadamia growers,
mainly in the northern rivers area of NSW, and risk an export industry in which
Australia was aiming at global dominance by 2007. The Australian Competition
and Consumer Commission said it was not investigating any macadamia nut
substitution, but if anyone had a complaint about false or misleading product
information it would look into it.
Description
Comments : The representative contacted
declined to provide any financial information until
the inquiring party details are revealed.
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 $12.5 million, and
-The company and any entities it controls have fewer than 50 employees
at the
end of the financial year.
Main activities : The Subject is engaged in import and
distribution of all kinds of nuts and
dried fruits.
The Subject also acts as representative agent for several significant
international and Australian nuts and fruits producers.
Product &
services : Almonds
Apricots
Peanuts
Peas, Bean & Peanut Snacks
Dried Banana, Mango and Pineapple
Dried Pears & Peaches
Pecans
Pistachios
Pinenuts
Cashews
Corn Snacks
Brazilnuts
Nut & Seed Oils
Walnuts
Hazelnuts
Figs
Cranberries
Macadamias
Sultanas
Raisins
Seeds
Prunes
Purchases
Local : Yes
International : India, United States, Brazil, Turkey, China,
Vietnam, Argentina, Peru,
Ecuador, Bolivia, Spain, Vietnam
Sales
Local : Yes
International : No exports.
Property & Assets
Premises : The Subject operates from premises
located at the verified heading
address consisting of administrative office and warehouse.
Branches : In addition, the Subject operates from
branch office located at:
P.O. Box 249
Emerald, VIC 3782
Australia
Tel: +61 3 59683003
Gross Domestic
Products (GDP) & Economic Overview
Central bank : Reserve
Bank of Australia
Reserve of foreign
exchange & gold : US$ 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:
4.0%
industry: 26%
services: 70%
Inflation :
2008: 4.4%
2009: 1.8%
2010: 2.8%
2011: 3.0%
Unemployment rate
: 2008: 4.2%
2009: 5.6%
2010: 5.2%
2011: 5.0%
Public debt
(General
Government gross debt as
a % GDP):
2008: 11.6%
2009: 17.6%
2010: 22.3%
2011: 24.1%
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, L/C, Telegraphic transfer, Credit up to 90 days
Sales Term
Local :
Prepayment, Bank transfer, Credit up to 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.50.59 |
|
|
1 |
Rs.80.34 |
|
Euro |
1 |
Rs.67.14 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 SCs 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.