MIRA INFORM REPORT
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Report Date : |
15.05.2012 |
IDENTIFICATION DETAILS
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Name : |
MODERN TEACHING AIDS PTY LTD |
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Registered Office : |
Level 1, |
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Country : |
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Financials (as on) : |
30.06.2007 |
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Date of Incorporation : |
20.06.1968 |
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Com. Reg. No.: |
000628786 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Import & distribution of educational products |
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No. of Employees : |
200 |
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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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 : MODERN TEACHING AIDS PTY LTD
Business address : Level 1, 122-126 Old Pittwater Road
Town : Brookvale
Province : New South Wales
Zip/postal code : 2100
Country : Australia
Tel : +61 2 99075222 / 99075279
Fax : +61 2 99075281
Email : sales@teaching.com.au
Website : www.teaching.com.au
Registered address : Level 1, 122-126 Old Pittwater Road
Town : Brookvale
Province : New South Wales
Zip/postal code : 2100
Country : Australia
Postal address : P.O. Box 608
Town : Brookvale
Province : New South Wales
Zip/postal code : 2100
Country : Australia
Executive Summary
Date founded or registered : 20/06/1968
Legal form : Australian
Proprietary Company
Chief executive : Neill Andrew Whiston
Issued & paid up capital
: AUD 5,007,500
Sales turnover : AUD
26,847,000 (Non-consolidated 12 months, 30/06/2007)
Net income : AUD 325,000
(Non-consolidated 12 months, 30/06/2007)
Total fixed assets : AUD 32,400,000
(Non-consolidated 12 months, 30/06/2007)
Line of business : Import & distribution
of educational products.
Staff employed : 200 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 good
Organization structure : Organizational structure is stable
Detrimental : No detrimental records found
Payment history : No payment delays noted
Registry Data
Registration date : 20/06/1968
Legal form : Australian Proprietary Company
Registration no Australian Company Number:
000628786
Registered authority : Australian Securities and Investments
Commission
Fiscal/ Tax no : Australian Business Number:
98000628786
Registry status : Live/Active
Previous name : None reported.
Change of legal form : None reported.
Key Management
Name : Neill Andrew Whiston
Designation : Managing Director
Appointments
Name : Neill Andrew Whiston
Designation : Director
Appointment date : 31/07/02
Address : 18 Vernon Street
Hunters
Hill, NSW 2110
Australia
Biography : Born on 19-03-1961 in
Warrington, United Kingdom
Name : Simon John Whiston
Designation : Director and Company Secretary
Appointment date : 31/07/02
Address : 14 Clanalpine Street
Mosman,
NSW 2088
Australia
Biography : Born on 17-04-1964 in
Newton-Le-Willows, Landcashire, United Kingdom.
Name : Robert John Davis
Designation : Director
Appointment date : 23/08/07
Address : 14 Karabah Place
Frenchs
Forest, NSW 2086
Australia
Biography : Born on 28-12-1968 in
Inverell, New South Wales, Australia.
Name : James Barkley Craddock
Designation : Director
Appointment date : 27/10/05
Address : 79 Kendall Street
West
Pymble, NSW 2073
Australia
Biography : Born on 20-04-1975 in
Armidale, New South Wales, Australia.
Staff employed : 200 employees
Key Advisors
Auditors : GRANT THORNTON NSW
Level 17,
383 Kent Street
Sydney,
NSW 2000
Australia
Composition
Authorized Capital : AUD 5,007,500
No of shares : 5,100 Class A Shares
/ 600 Class B Redeemable Preference Shares / 600 Class
C Redeemable Preference Shares / 1,200 Class D Redeemable
Preference
Shares / 5,000,000 Ordinary Shares
Share par value : AUD 1
Issued capital : AUD 5,007,500
Paid up capital : AUD
5,007,500
How listed : Full List
Composition
Shareholder name : MODERN STAR PTY LIMITED
Address : Level 1, 122 Old Pittwater
Road
Brookvale,
NSW 2100
Australia
No. of shares : 5,100 Class A Shares / 600 Class B
Redeemable Preference Shares / 600 Class C
Redeemable
Preference Shares / 1,200 Class D Redeemable Preference Shares / 5,000,000
Ordinary Shares % of shares : 100%
Structure
Name : MODERN STAR PTY LIMITED
Affiliation type : Parent Company
Address : Level 1, 122 Old Pittwater
Road
Brookvale,
NSW 2100
Australia
Comments : Modern Star Pty Ltd is a
privately owned group which through a number of leading
distribution
companies trades across three divisions; Education Resources , School
Fundraising and Toy Wholesale.
Name : KESCO EDUCATIONAL PTY
LIMITED
Affiliation type : Sister Company
Address : Level 1, 122 Old Pittwater
Road
Brookvale,
NSW 2100
Australia
Name : MODERN BRANDS PTY LTD
Affiliation type : Sister
Company
Address : Level 1, 122 Old Pittwater
Road
Brookvale,
NSW 2100
Australia
Comments : Modern Brands is the exclusive distributor
for Australia and New Zealand of world
leading retail toy and entertainment brands.
Name : PARENT DIRECT PTY LTD
Affiliation type : Sister Company
Address : Level 1, 122 Old Pittwater
Road
Brookvale,
NSW 2100
Australia
Name : KANGAROO EDUCATIONAL
PTY LTD
Affiliation type : Sister Company
Address : Level 1, 122 Old Pittwater
Road
Brookvale,
NSW 2100
Australia
Comments : Distribution of educational
resources to Australian schools and early childhood centres.
Related companies
and corporate affiliations comments
Other companies of Modern
Star Group should be considered affiliates of the Subject
Bank Details
Name of bank : National Australia Bank 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 : None reported.
Description
Source of financial statement
: Commercial Registry Filings
Financial statement date : 30/06/07
Type of accounts : Full audited
Currency : Australia Dollar
(AUD)
Exchange rate : 1 USD = AUD 1.00 as of
14-05-2012
Summarized
Financial Information
Consolidation type : Non Consolidated Non Consolidated
Currency : Australia
Dollar (AUD) Australia
Dollar (AUD)
Denomination : (x1) One (x1) One
Date of financial year end : 30/06/07 30/06/06
Length of accounts : 12 months 12 months
Gross profit : 11,151,000 8,046,000
Profit before tax : 504,000 663,000
Net income : 325,000 470,000
Non current assets : 3,399,000 3,265,000
Current assets : 29,001,000 24,834,000
Inventories : 11,905,000 10,256,000
Total assets : 32,400,000 28,099,000
Current liabilities : 23,197,000 18,659,000
Non current liabilities : 1,397,000 1,614,000
Total liabilities : 24,594,000 20,273,000
Share equity : 7,806,000 7,825,000
Retained earning : 7,871,000 7,546,000
Comments : The Subject latest
financial information is not available at the registry.
Main activities : The Subject
engages in import & distribution of educational products.
The Subject distributes its products to mainly primary & secondary
schools and children learning centres.
The Subject is known to be one of the first Australian companies
to sell educational resources to schools.
The Subject is a wholly owned subsidiary of Modern Star Pty Ltd. Modern
Star Pty Ltd is a privately owned company which through a number of leading
distribution companies trades across three divisions; Education Resources ,
School Fundraising and Toy Wholesale.
Product &
services :
Educational
products:
- Early Childhood educational products such as reading material,
toys, brain development toys and games
- Primary and Secondary School educational products such as books,
games and art tools.
Purchases
International : Worldwide
Sales
Local : Yes
International : Australasia
Property &
Assets
Premises : The Subject operates from
premises located at the verified heading address consisting of
administrative office and warehouse.
Branches : None reported.
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%
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, Telegraphic transfer, D/P,
Credit 30-90 days
Sales Term
Local : Prepayment, Bank transfer, D/P,
Credit 30-90 days
International : L/C, Telegraphic transfer, D/P, Credit 30-90
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.53.71 |
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UK Pound |
1 |
Rs.86.34 |
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Euro |
1 |
Rs.69.23 |
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.