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Report Date : |
03.11.2012 |
IDENTIFICATION DETAILS
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Name : |
EASTCOAST FASTENERS PTY. LIMITED |
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Registered Office : |
C/o RICHARD J HICKEY & CO 14B |
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Country : |
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Date of Incorporation : |
21.09.1992 |
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Com. Reg. No.: |
057540637 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Import & distribution of industrial fasteners. |
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No. of Employees : |
7 employees |
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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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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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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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 |
AUSTRALIA - ECONOMIC OVERVIEW
Australia's abundant and diverse
natural resources attract high levels of foreign investment and include
extensive reserves of coal, iron ore, copper, gold, natural gas, uranium, and
renewable energy sources. A series of major investments, such as the US$40
billion Gorgon Liquid Natural Gas project, will significantly expand the
resources sector. Australia also has a large services sector and is a
significant exporter of natural resources, energy, and food. Key tenets of
Australia''s trade policy include support for open trade and the successful
culmination of the Doha Round of multilateral trade negotiations, particularly
for agriculture and services. The Australian economy grew for 17 consecutive
years before the global financial crisis. Subsequently, the former RUDD
government introduced a fiscal stimulus package worth over US$50 billion to
offset the effect of the slowing world economy, while the Reserve Bank of
Australia cut interest rates to historic lows. These policies - and continued
demand for commodities, especially from China - helped the Australian economy
rebound after just one quarter of negative growth. The economy grew by 1.4%
during 2009 - the best performance in the OECD - by 2.7% in 2010, and by 1.8%
in 2011. Unemployment, originally expected to reach 8-10%, peaked at 5.7% in
late 2009 and fell to 5.0% in 2011. As a result of an improved economy, the
budget deficit is expected to peak below 4.2% of GDP and the government could
return to budget surpluses as early as 2015. Australia was one of the first
advanced economies to raise interest rates, with seven rate hikes between
October 2009 and November 2010. The GILLARD government is focused on raising
Australia''s economic productivity to ensure the sustainability of growth, and
continues to manage the symbiotic, but sometimes tense, economic relationship
with China. Australia is engaged in the Trans-Pacific Partnership talks and
ongoing free trade agreement negotiations with China, Japan, and Korea.
Source : CIA
Verified Address
Subject name : EASTCOAST FASTENERS PTY. LIMITED
Business address :
Unit 38, 1 Cowpasture Place
Town : Wetherill Park
Province : New South Wales
Zip/postal code : 2164
Country : Australia
Tel : +61 2 97564844
Fax : +61 2 97564848
Email : sales@eastcoastfasteners.com.au
Website : www.eastcoastfasteners.com.au
Registered address
: C/o RICHARD J HICKEY & CO
14B Hannah Street
Town : Beecroft
Province : New South Wales
Zip/postal code : 2119
Country : Australia
Postal address : P.O. Box 6263
Town : Wetherill Park
Province : New South Wales
Zip/postal code : 2164
Country : Australia
Executive Summary
Date founded or
registered : 21/09/1992
Legal form : Australian
Proprietary Company
Chief executive : Paul Robert Neal
Issued & paid
up capital : AUD 102
Sales turnover : AUD
3,500,000 (Estimated Non-consolidated 12 months, 30/06/2012)
Line of business :
Import &
distribution of industrial fasteners.
Staff employed : 7
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 fair
Organization
structure : Organizational
structure is stable
Detrimental : No detrimental found
Payment history : No payment delays noted
Registry Data
Registration date
: 21/09/1992
Legal form : Australian
Proprietary Company
Registration no Australian Company
Number: 057540637
Registered
authority : Australian
Securities and Investments Commission
Fiscal/ Tax no : Australian Business
Number: 18057540637
Registry status : Live/Active
Previous name : None reported.
Change of legal form
: None reported.
Key Management
Name : Paul Robert Neal
Designation : Managing Director
Appointments
Name : Paul Robert Neal
Designation : Director and Company Secretary
Appointment date :
21/09/92
Address : 1 Tyagarah Street
Ryde, NSW 2112
Australia
Biography : Born on 24-11-1958 in
Auckland, New Zealand.
Staff employed : 7 employees
Composition
Authorized Capital
: AUD 102
No of shares : 1 Class E Share / 1 Class F Share
/ 100 Ordinary Shares
Share par value : AUD 1
Issued capital : AUD 102
Paid up capital : AUD 102
How listed : Full
List
Composition
Shareholder name :
Paul Robert Neal
Address : 1 Tyagarah Street
Ryde, NSW 2112
Australia
No. of shares : 1 Class E Share / 1 Class F Share
/ 100 Ordinary Shares
% of shares : 100%
Structure
Related companies
and corporate affiliations comments: None reported.
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 : Unsatisfied Charges:
ASIC Charge Number: 853487
Date Registered: 26-03-2002
Charge type: Both Fixed & Floating
Date Created: 13-11-2001
Chargees Name: AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED
ASIC Charge Number: 1916128
Date Registered: 21-01-2010
Charge type: Fixed
Date Created: 11-01-2010
Chargees Name: BOQ EQUIPMENT FINANCE LIMITED
ASIC Charge Number: 2121906
Date Registered: 27-01-2011
Charge type: Fixed
Date Created: 13-01-2011
Chargees Name: BOQ EQUIPMENT FINANCE LIMITED
ASIC Charge Number: 2123540
Date Registered: 31-01-2011
Charge type: Fixed
Date Created: 27-01-2011
Chargees Name: BOQ EQUIPMENT FINANCE LIMITED
ASIC Charge Number: 2172903
Date Registered: 11-05-2011
Charge type: Fixed
Date Created: 28-04-2011
Chargees Name: BOQ EQUIPMENT FINANCE LIMITED
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 : 30/06/12
Type of accounts :
Estimated key figures
Currency : Australia Dollar
(AUD)
Exchange rate : 1 USD = AUD 0.96 as of
01-11-2012
Summarized Financial Information
Consolidation type
: Non Consolidated
Currency : Australia Dollar
(AUD)
Denomination : (x1) One
Date of financial
year end : 30/06/12
Length of accounts
: 12 months
Sale turnover /
Income : 3,500,000
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 $12.5 million, and
-The company and any entities it controls have fewer than 50 employees
at the
end of the financial year.
Main activities : The Subject's main activities are
import and distribution of fasteners.
Product &
services : Screws
Bolts
Rivets
Nuts
Washers
Drills
Masonry Fixings
Purchases
International : Taiwan, China
Sales
Local : Yes
International : New Zealand
Property & Assets
Premises : The Subject operates from
premises located at the verified heading
address consisting of a warehouse and an administrative office.
Branches : None reported.
Gross Domestic Products (GDP) & Economic
Overview
Central bank : Reserve
Bank of Australia
Reserve of foreign
exchange & gold : US$ 43.879
billion
Gross domestic
product - GDP : US$ 1.586
trillion
GPP (Purchasing
power parity) : 954.296
billion of International dollars
GDP per capita -
current prices : US$ 68,916
GDP - composition
by sector : agriculture: 4%
industry: 25.6%
services: 70.4%
Inflation : 2009:
1.8%
2010: 2.8%
2011: 3.4%
Unemployment rate
: 2009: 5.6%
2010: 5.2%
2011: 5.1%
Public debt
(General Government
gross debt as
a % GDP): 2009:
16.9%
2010: 20.4%
2011: 22.9%
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 : Commonwealth
Bank (Banking), BHP Billiton (Materials), Westpac Banking Group (Banking), Rio
Tinto (Materials), National Australia Bank (Banking), ANZ Banking (Banking),
Telstra (Telecommunications)
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$46,843
million
2009: US$25,716 million
2010: US$32,472 million
FDI Outflows : 2008: US$33,604
million
2009: US$16,160 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%
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.53.66 |
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1 |
Rs.86.37 |
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Euro |
1 |
Rs.69.24 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.