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Report Date : |
26.03.2012 |
IDENTIFICATION DETAILS
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Name : |
AVANTI IMPORTS PTY LTD |
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Registered Office : |
11-15
Harley Crescent, Condell Park, New South Wales 2200 |
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Country : |
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Date of Incorporation : |
27.02.2002 |
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Com. Reg. No.: |
099733936 |
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Legal Form : |
Australian
Proprietary Company |
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Line of Business : |
Import and distribution of fitness equipment and products. |
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No. of Employees : |
50 |
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
500,000 |
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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) |
|
Australia |
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
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 : AVANTI IMPORTS PTY LTD
Other style
/ Business name : AVANTI FITNESS /
AVANTI FITNESS IMPORTS
Business
address : 11-15 Harley
Crescent
Town :
Condell
Park
Province
: New
South Wales
Zip/postal
code : 2200
Country
: Australia
Tel : +61 2
97086322
Fax : +61 2
97086377
Email
: enquiries@avantifitness.com.au
Website
: www.avantifitness.com
Registered
address :
Town :
Wollongong
Province
: New
South Wales
Zip/postal
code : 2500
Country
: Australia
Executive Summary
Date
founded or registered : 27/02/2002
Legal
form : Australian
Proprietary Company
Chief
executive : Mark
Garrahy
Issued
& paid up capital : AUD 1
Line
of business : Fitness
equipment wholesaler and importer.
Staff
employed : 27/02/2002
Country
risk : Country
risk is minimal
Operation
trend : Operational
trend is steady
Management
experience : Management is
reasonably 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 500,000
Credit
amount asked : USD 500,000
Comments : The
Subject seems well positioned in the market and financially stable as the
Subject is part of a well organized group. Although financial information is
not available, we believe the Subject would be able to uphold the credit amount
based on the Subject’s year of establishment, group background, nature of
business and employees.
Registry Data
Registration
date : 27/02/2002
Legal
form : Australian
Proprietary Company
Registration
no Australian Company Number: 099733936
Registered
authority : Australian
Securities and Investments Commission
Fiscal/
Tax no : Australian Business Number: 90099733936
Registry
status : Live/Active
Previous
name : None
reported.
Change
of legal form : None
reported.
Other registration : AVANTI
FITNESS is a business name owned by the Subject registered on 18/07/2001 under
business registration no: NSW BN97827387.
AVANTI FITNESS IMPORTS is a business name owned by the
Subject registered on 28/05/2002 under business registration no: NSW
BN97896169.
Key
Management
Name :
Mark Garrahy
Designation
: Joint Managing Director
Name :
Darren Edward
Piggins
Designation
: Joint Managing Director
Appointments
Name :
Mark
Garrahy
Designation
: Director and
Company Secretary
Appointment
date : 27/02/02
Address
: 2
Redfern Place
Gymea, NSW 2227
Australia
Biography
: Born on
13-12-1972 in Sydney, New South Wales, Australia.
Name :
Darren
Edward Piggins
Designation
: Director and
Company Secretary
Appointment
date : 27/02/02
Address
: 15
Juvenis Avenue
Oyster Bay, NSW 2225
Australia
Biography
: Born on
23-02-1971 in Sydney, New South Wales, Australia.
Staff
employed : 50
employees
Composition
Authorized
Capital : AUD
1
No of
shares : 1
Ordinary Share
Share
par value : AUD
1
Issued
capital : AUD
1
Paid
up capital : AUD
1
How listed
: Full
List
Composition
Shareholder
name : WALO
BOKA PTY LTD
Address
: 11-15
Harley Crescent
Condell Park, NSW 2200
Australia
No. of
shares : 1
Ordinary Share
% of
shares : 100%
Structure
Name :
WALO
BOKA PTY LTD
Affiliation
type : Parent
Company
Address
: 11-15
Harley Crescent
Condell Park, NSW 2200
Australia
Name :
WORKOUT
WORLD PTY. LTD.
Affiliation
type : Associate
Address
: Shop 2,
281 Crown Street
Wollongong, NSW 2500
Australia
Comments
: Fitness
equipment and products retailer.
Name :
WORK
OUT WORLD (ESSENDON) PTY LTD
Affiliation
type : Associate
Address
: U1 299
Pascoe Vale Road
Essendon, VIC 3040
Australia
Comments
: Fitness
equipment and products retailer.
Name :
WORKOUT
WORLD (CHATSWOOD) PTY LTD
Affiliation
type : Associate
Address
: L1,
577-579 Pittwater Road
Brookvale,
NSW 2100
Australia
Comments
: Fitness
equipment and products retailer.
Name :
WORKOUT
WORLD (PARRAMATTA) PTY LTD
Affiliation
type : Associate
Address
: Shop 3,
Bungarribee Road
Blacktown, NSW 2148
Australia
Comments
: Fitness
equipment and products retailer.
Name :
BIGARBE
PTY LIMITED
Affiliation
type : Associate
Address
: 553
Kingsway
Miranda, NSW 2228
Australia
Comments
: Fitness
equipment and products retailer.
Name :
PRINSTER
PTY. LIMITED
Affiliation
type : Associate
Address
: 281
Crown Street
Wollongong, NSW 2500
Australia
Comments
: Fitness equipment
and products retailer.
Name :
BOKALEVU
PTY LTD
Affiliation
type : Associate
Address
: Shops 3
& 4, 2-18 Orange Grove Road
Liverpool, NSW 2170
Australia
Comments
: Fitness
equipment and products retailer.
Name :
WORKOUT
WORLD (NUNAWADING) PTY LTD
Affiliation
type : Associate
Address
: 372-394
Whitehorse Road
Nunawading, VIC 3131
Australia
Comments
: Fitness
equipment and products retailer.
Name :
AVANTI
IMPORTS PTY LTD
Affiliation
type : Associate
Address
: 11-15
Harley Crescent
Condell Park, NSW 2200
Australia
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 : Satisfied
Charge Details:
ASIC
Charge Number: 873548
Date
Registered: 04-07-2002
Charge
type: Both
Fixed & Floating
Date
Created: 12-06-2002
Chargees
Name: COMMONWEALTH
BANK OF AUSTRALIA
Legal Fillings
Bankruptcy
fillings : None
reported.
Court
judgements : None
reported.
Tax
liens : None
reported.
Others
: None
reported.
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
$12.5 million, and
-The company and any entities it controls have fewer than 50
employees at the end of the financial year.
Main activities : The
Subject is engaged in import and distribution of fitness equipment and
products.
The Subject's customers include commercial gyms, personal
training studios, sporting clubs, schools, corporate offices, defence force
gyms and government departments.
Product
& services : Fitness products:
-Treadmills
-Bikes
-Elliptical trainers
-Weights systems
-Combination gyms
-Skywall – the world’s first mechanical indoor rock climbing
wall
Brand
: Precor USA,
Tuffstuff, Gym 80, Impulse and Avanti
Purchases
International
: United States, Germany,
China, Taiwan
Sales
Local
: Yes
International
: New Zealand
Property
& Assets
Premises : The
Subject operates from premises located at the verified heading address
consisting of administrative office and warehouse covering 5,600 square metres.
Branches
: None reported.
Gross
Domestic Products (GDP) & Economic Overview
Central
bank : Reserve
Bank of Australia
Reserve
of foreign exchange & gold : US$
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
: L/C,
Telegraphic transfer, Credit up to 90 days
Sales Term
Local
: Prepayment,
Bank transfer, Cash, Credit up to 90 days
International
: Prepayment,
Bank transfer, Cash, 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.50.90 |
|
|
1 |
Rs.81.27 |
|
Euro |
1 |
Rs.67.98 |
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 |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
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.