MIRA INFORM REPORT
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Report Date : |
30.05.2012 |
IDENTIFICATION DETAILS
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Name : |
SPORTGRASS PTY LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
29.02.1996 |
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Com. Reg. No.: |
073087395 |
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Legal Form : |
Australian Proprietary
Company |
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Line of Business : |
Manufacturers of synthetic
grass for sporting surfaces. |
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No. of Employees : |
13 |
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 130,000 |
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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 – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 : SPORTGRASS PTY LTD
Business address : 15-19 Villas Road
Town : Dandenong
Province : Victoria
Zip/postal code : 3175
Country : Australia
Tel : +61 3 97683970
Fax : +61 3 97683974
Email : sportgrass@sportgrass.com.au
Website : www.sportgrass.com.au
Registered address : 15-19 Villas Road
Town : Dandenong
Province : Victoria
Zip/postal code : 3175
Country : Australia
Executive Summary
Date founded or registered : 29/02/1996
Legal form : Australian
Proprietary Company
Chief executive : John Norman Skase
Issued & paid up capital
: AUD 100
Sales turnover : AUD 4,000,000 (Estimated
Non-consolidated 12 months, 30/06/2011)
Line of business : Manufacturers of synthetic
grass for sporting surfaces.
Staff employed : 13 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 stable
Detrimental : No detrimental records found
Payment history : No payment delays noted
Credit amount suggestion : USD 130,000
Credit amount asked : USD 200,000
Registry Data
Registration date : 29/02/1996
Legal form : Australian Proprietary Company
Registration no Australian Company Number:
073087395
Registered authority : Australian Securities and Investments
Commission
Fiscal/ Tax no : Australian Business Number:
16073087395
Registry status : Live/Active
Previous name : None reported.
Change of legal form : None reported.
Key Management
Name : John Norman Skase
Designation : Managing Director
Name : Shamus Skase
Designation : General Manager
Appointments
Name : John Norman Skase
Designation : Director and Company Secretary
Appointment date : 29/02/96
Address : 10 Jacksons Road
Mount
Eliza, VIC 3930
Australia
Biography : Born on 26-09-1948 in
Melbourne, Victoria, Australia.
Staff employed : 13 employees
Composition
Authorized Capital : AUD 100
No of shares : 70 Class B Shares / 30 Ordinary
Shares
Share par value : AUD 1
Issued capital : AUD 100
Paid up capital : AUD
100
How listed : Full List
Composition
Shareholder name : AVIGOLD PTY. LIMITED
Address : P.O. Box 611
Mudgeeraba,
QLD 4213
Australia
No. of shares : 5 Class B Shares
Shareholder name : ESAKS PTY. LIMITED
Address : 15-19 Villas Road
Dandenong,
VIC 3175
Australia
No. of shares : 30 Class B Shares / 30 Ordinary
Shares
Shareholder name : Shamus Skase
Address : 129 Cruikshank Street
Port
Melbourne, VIC 3207
Australia
No. of shares : 20 Class B Shares
Shareholder name : COCKATOO NOMINEES PTY LTD
Address : Unit 3, 14 King Edward Road
Osborne Park,
WA 6017
Australia
No. of shares : 5 Class B Shares
Shareholder name : Mark Cunningham
Address : 15 Merridong Road
Elanora
Heights, NSW 2101
Australia
No. of shares : 5 Class B Shares
Shareholder name : Jointly held by Alexander Lodge &
Elizabeth Lodge
Address : Unit 30, 513-515 Maroondah
Highway
Ringwood,
VIC 3134
Australia
No. of shares : 5 Class B Shares
Related companies and corporate affiliations comments : None reported.
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
: External Sources
Financial statement date : 30/06/11
Type of accounts : Estimated key figures
Currency : Australia Dollar
(AUD)
Exchange rate : 1 USD = AUD 1.01 as of
28-05-2012
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 : 4,000,000
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 $12.5
million, and
-The company and any entities
it controls have fewer than 50 employees at the end of the financial year.
Main activities :
The Subject engages in
manufacturing and sales of synthetic grass for sporting surfaces such as
tennis, cricket, hockey, bowls etc.
Subject also manufacture
Neatgrass™ fake grass for landscaping.
Product & services :
· Synthetic Sport Surfaces
· Fake grass for landscaping
· Brand : Sportgrass
· Neatgrass (fake grass for landscaping)
Purchases
International : Asian countries
Sales
Local : Yes
International : New Zealand
Property &
Assets
Premises : The Subject operates from premises
located at the verified heading address consisting of
production
facilities, warehouse and administrative office.
Branches : None reported.
Central bank : Reserve Bank of Australia
Reserve of foreign exchange & gold : US$ 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, Credit 30-60 days
Sales Term
Local : Prepayment, Bank
transfer, Credit 30-60 days
International : Prepayment, Telegraphic
transfer, 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.55.58 |
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UK Pound |
1 |
Rs.87.14 |
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Euro |
1 |
Rs.69.73 |
INFORMATION DETAILS
|
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.