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Report Date : |
30.03.2012 |
IDENTIFICATION DETAILS
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Name : |
ROCKFORD INTERNATIONAL PTY LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
16.06.2006 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Engaged
in import and distribution of |
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No. of Employees : |
6 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 140,000 |
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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 |
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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 : ROCKFORD
INTERNATIONAL PTY LTD
Business address : 9
Production Drive
Town : Campbellfield
Province :
Victoria
Zip/postal code : 3061
Country : Australia
Tel : +61
3 93577540
Fax : +61
3 93575610
Email : ash.rockford@gmail.com
Registered address : 342
George Street
Town : Doncaster
Province : Victoria
Zip/postal code : 3108
Country :
Australia
Executive
Summary
Date founded or registered : 16/06/2006
Legal form : Australian
Proprietary Company
Chief executive : Ashish
Jain
Issued & paid up capital : AUD 100
Sales
turnover : AUD
8,000,000 (Estimated Non-consolidated 12 months, 30/06/2011)
Line of business : Import
and distribution of manchester and domestic textile.
Staff employed : 6
employees
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 stable
Detrimental : No
detrimental records found
Payment history : No
payment delays noted
Credit amount suggestion : USD
140,000
Credit amount asked : Not
described.
Registry
Data
Registration date : 16/06/2006
Legal form : Australian
Proprietary Company
Registration no Australian Company Number: 120233025
Registered
authority : Australian
Securities and Investments Commission
Fiscal/ Tax no : Australian
Business Number: 45120233025
Registry status : Live/Active
Previous name : None
reported.
Change of legal form : None
reported.
Key
Management
Name : Ashish
Jain
Designation : Managing
Director
Appointments
Name : Ashish
Jain
Designation : Director
and Company Secretary
Appointment date : 16/06/06
Address : 2
Salisbury Avenue
Ivanhoe,
VIC 3079
Australia
Biography : Born
on 21-09-1976 in India.
Name : Siddhi
Jain
Designation : Director
Appointment date : 26/03/07
Address : 2
Salisbury Avenue
Ivanhoe,
VIC 3079
Australia
Biography : Born
on 19-04-1981 in India.
Name : Rhea
Jotwani
Designation : Director
Appointment date : 26/03/07
Address : C/o
AARKAY INTERNATIONAL
3/45,
Nirmal Jivan, Kopri Colony
Thane(East)
Mumbai
400603
Maharashtra
India
Biography : Born
on 30-09-1977 in India.
Name : Kamal
Jotwani
Designation : Director
Appointment date : 26/03/07
Address : C/o
AARKAY INTERNATIONAL
3/45,
Nirmal Jivan, Kopri Colony
Thane(East)
Mumbai
400603
Maharashtra
India
Biography : Born
on 26-11-1972 in India.
Staff employed : 6
employees
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 : Ashish
Jain
Address : 2
Salisbury Avenue
Ivanhoe,
VIC 3079
Australia
No. of shares : 25
Ordinary Shares
% of shares : 25%
Shareholder name : Kamal
Jotwani
Address : C/o
AARKAY INTERNATIONAL
3/45,
Nirmal Jivan, Kopri Colony
Thane(East)
Mumbai
400603
Maharashtra
India
No. of shares : 25
Ordinary Shares
% of shares : 25%
Shareholder name : Siddhi
Jain
Address : 2
Salisbury Avenue
Ivanhoe,
VIC 3079
Australia
No. of shares : 25
Ordinary Shares
% of shares : 25%
Shareholder name : Rhea
Jotwani
Address : C/o
AARKAY INTERNATIONAL
3/45,
Nirmal Jivan, Kopri Colony
Thane(East)
Mumbai
400603
Maharashtra
India
No. of shares : 25
Ordinary Shares
% of
shares : 25%
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 : Provided by the Subject
Financial statement date : 30/06/11
Type of accounts : Estimated
key figures
Currency : Australia
Dollar (AUD)
Exchange rate : 1
USD = AUD 0.96 as of 28-03-2012
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 : 8,000,000
Comments
: The
estimated turnover was provided by Mr. Ashish Jain.
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 $12.5 million, and
-The company and any entities it
controls have fewer than 50 employees at the end of the financial year.
Main
activities : The
Subject is engaged in import and distribution of manchester and domestic
textile.
Purchases
International : India
Sales
Local : Yes
International : No
exports.
Property & Assets
Premises
: The
Subject operates from premises located at the verified heading address of
warehouse and administrative office.
Branches : None
reported.
Gross Domestic Products (GDP) & Economic Overview
Central bank : Reserve
Bank of Australia
Reserve of foreign exchange & gold : US$ 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%
PAYMENT
HISTORY
Purchase Term
International : Cash
against document, Credit 45 days once B/L issued
Sales Term
Local : Credit
30-90 days, Bank transfer
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.51.14 |
|
|
1 |
Rs.81.41 |
|
Euro |
1 |
Rs.68.22 |
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 |
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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.