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Report Date : |
22.11.2012 |
IDENTIFICATION DETAILS
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Name : |
ADELAIDE MARBLE SPECIALISTS PTY LTD |
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Registered Office : |
Level 2, |
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Country : |
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Date of Incorporation : |
17.06.1997 |
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Com. Reg. No.: |
078934782 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Manufacturers of kitchen bench tops and distributor of tiles, paver, taps and bathware. |
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No. of Employees : |
30 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
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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 |
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.
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Source : CIA |
Verified Address
Subject name : ADELAIDE MARBLE SPECIALISTS PTY LTD
Business address : 122 South Terrace
Town : Wingfield
Province : South Australia
Zip/postal code : 5013
Country : Australia
Tel : +61 8 83451842
Fax : +61 8 83451846
Email : enquiries@adelaidemarble.com.au
Website : www.adelaidemarble.com.au
Registered address : Level 2, 139 Frome Street
Town : Adelaide
Province : South Australia
Zip/postal code : 5000
Country : Australia
Executive Summary
Date founded or registered : 17/06/1997
Legal form : Australian Proprietary Company
Chief executive : John Miteloudis
Issued & paid up capital : AUD 3
Line of business : Manufacturers of kitchen bench tops and distributor of tiles, paver, taps and
bathware.
Staff employed : 30 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 undetermined
Organization structure : Organizational structure is stable
Detrimental : No detrimental found
Payment history : No payment delays noted
Registry Data
Registration date : 17/06/1997
Legal form : Australian Proprietary Company
Registration no Australian Company Number : 078934782
Registered authority : Australian Securities & Investments Commission
Fiscal/ Tax no : Australian Business Number: 97078934782
Registry status : Live/Active
Previous name : None reported.
Change of legal form : None reported.
Key Management
Name : John Miteloudis
Designation : Director
Name : Nick Miteloudis
Designation : Director
Name : Spiro Miteloudis
Designation : Director
Appointments
Name : John Miteloudis
Designation : Director and Company Secretary
Appointment date : 13/06/05
Address : C/o ADELAIDE MARBLE SPECIALISTS PTY LTD
122 South Terrace
Wingfield, SA 5013
Australia
Biography : Born on 16-05-1977 in Adelaide, South Australia, Australia.
Name : Nick Miteloudis
Designation : Director and Company Secretary
Appointment date : 17/06/97
Address : C/o ADELAIDE MARBLE SPECIALISTS PTY LTD
122 South Terrace
Wingfield, SA 5013
Australia
Biography : Born on 08-06-1943 in Agia Paraskevi, Greece.
Name : Spiro Miteloudis
Designation : Director
Appointment date : 26/10/09
Address : C/o ADELAIDE MARBLE SPECIALISTS PTY LTD
122 South Terrace
Wingfield, SA 5013
Australia
Biography : Born on 31-03-1980 in Nhill, Victoria, Australia.
Staff employed : 30 employees
Composition
Authorized Capital : AUD 3
No of shares : 3 Ordinary Shares
Share par value : AUD 1
Issued capital : AUD 3
Paid up capital : AUD 3
How listed : Full List
Composition
Shareholder name : Jointly held by John Miteloudis & Spiro Miteloudis
Address : John Miteloudis & Spiro Miteloudis
C/o ADELAIDE MARBLE SPECIALISTS PTY LTD
122 South Terrace, Wingfield, SA 5013, Australia
No. of shares : 3 Ordinary Shares
% of shares : 100%
Structure
Name : ADELAIDE GRANITE PTY LTD
Affiliation type : Associate
Address : 122 South Terrace, Wingfield, SA 5013, Australia
Name : MG PROPERTY GROUP (SA) PTY LTD
Affiliation type : Associate
Address : 122 South Terrace, Wingfield, SA 5013, 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 : 1384292
Date Registered : 27-11-2006
Charge type : Fixed
Date Created : 09-11-2006
Chargees Name : CBFC LIMITED
ASIC Charge Number : 1490635
Date Registered : 30-07-2007
Charge type : Fixed
Date Created : 23-07-2007
Chargees Name : CBFC LIMITED
Unsatisfied Charge
Details:
ASIC Charge Number : 618814
Date Registered : 18-11-1997
Charge type : Both Fixed & Floating
Date Created : 16-10-1997
Chargees Name : WESTPAC BANKING CORPORATION
ASIC Charge Number : 815259
Date Registered : 09-08-2001
Charge type : Both Fixed & Floating
Date Created : 11-07-2001
Chargees Name : CBFC LIMITED
ASIC Charge Number : 928125
Date Registered : 12-03-2003
Charge type : Fixed
Date Created : 28-02-2003
Chargees Name : MERCEDES-BENZ FINANCIAL SERVICES AUSTRALIA PTY LTD
ASIC Charge Number : 932261
Date Registered : 28-03-2003
Charge type : Fixed
Date Created : 14-03-2003
Chargees Name : WESTPAC BANKING CORPORATION
ASIC Charge Number : 1188690
Date Registered : 28-07-2005
Charge type : Fixed
Date Created : 06-07-2005
Chargees Name : ST. GEORGE FINANCE LIMITED
ASIC Charge Number : 1268859
Date Registered : 17-02-2006
Charge type : Fixed
Date Created : 24-01-2006
Chargees Name: CBFC LIMITED
ASIC Charge Number : 1281796
Date Registered : 23-03-2006
Charge type : Fixed
Date Created : 03-03-2006
Chargees Name : CBFC LIMITED
ASIC Charge Number : 1289854
Date Registered : 18-04-2006
Charge type : Fixed
Date Created : 17-03-2006
Chargees Name : CBFC LIMITED
ASIC Charge Number : 1321441
Date Registered : 04-07-2006
Charge type : Fixed
Date Created : 23-06-2006
Chargees Name : CBFC LIMITED
ASIC Charge Number : 1339938
Date Registered : 07-08-2006
Charge type : Fixed
Date Created : 20-07-2006
Chargees Name : CBFC LIMITED
ASIC Charge Number : 1339948
Date Registered : 07-08-2006
Charge type : Fixed
Date Created : 19-07-2006
Chargees Name : CBFC LIMITED
ASIC Charge Number : 1387012
Date Registered : 06-12-2006
Charge type : Fixed
Date Created : 29-11-2006
Chargees Name : ST. GEORGE FINANCE LIMITED
ASIC Charge Number : 1393015
Date Registered : 18-12-2006
Charge type : Fixed
Date Created : 24-11-2006
Chargees Name : CBFC LIMITED
ASIC Charge Number : 1409103
Date Registered : 25-01-2007
Charge type : Fixed
Date Created : 05-01-2007
Chargees Name : CBFC LIMITED
ASIC Charge Number : 1483888
Date Registered : 18-07-2007
Charge type : Fixed
Date Created : 29-06-2007
Chargees Name : CBFC LIMITED
ASIC Charge Number : 1503110
Date Registered : 23-08-2007
Charge type : Fixed
Date Created : 27-07-2007
Chargees Name : CBFC LIMITED
ASIC Charge Number : 1570039
Date Registered : 07-01-2008
Charge type : Fixed
Date Created : 14-12-2007
Chargees Name : CAPITAL FINANCE AUSTRALIA LIMITED
ASIC Charge Number : 1650041
Date Registered : 18-06-2008
Charge type : Fixed
Date Created : 13-06-2008
Chargees Name : ST. GEORGE FINANCE LIMITED
ASIC Charge Number : 1685338
Date Registered : 28-08-2008
Charge type : Fixed
Date Created : 08-08-2008
Chargees Name : COMMONWEALTH BANK OF AUSTRALIA
ASIC Charge Number : 1725903
Date Registered : 01-12-2008
Charge type : Fixed
Date Created : 29-10-2008
Chargees Name : WESTPAC BANKING CORPORATION
ASIC Charge Number : 1793491
Date Registered : 28-05-2009
Charge type : Fixed
Date Created : 21-05-2009
Chargees Name : COMMONWEALTH BANK OF AUSTRALIA
ASIC Charge Number : 1982104
Date Registered : 27-05-2010
Charge type : Fixed
Date Created : 23-04-2010
Chargees Name : COMMONWEALTH BANK OF AUSTRALIA
ASIC Charge Number : 2194003
Date Registered : 24-06-2011
Charge type : Fixed
Date Created : 16-06-2011
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 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 $12.5 million, and
-The company and any entities it controls have fewer than 50 employees at the end of the financial year.
Main activities : The Subject is engaged as manufacturer of kitchen bench tops and distributor of tiles, paver, taps and bathware.
Purchases
International : Asian countries
Sales
Local : Yes
International : New Zealand
Property & Assets
Premises : The Subject operates from premises located at the verified heading address consisting of a cutting facilities, warehouse, showroom and administrative office.
Branches : In addition, the Subject operates from showrooms located at:
333 South Road
Mile End, SA 5031
Australia
Tel: +61 8 83521265
391 Swan Street
Richmond, VIC 3121
Australia
Tel: +61 3 84568555
Lot 1, Lawrence Hargrave Way
Parafield Airport, SA 5106
Australia
165 Barkly Avenue
Burnley, VIC 3121
Australia
Tel: +61 3 84568555
Gross Domestic
Products (GDP) & Economic Overview
Central bank : Reserve Bank of Australia
Reserve of foreign exchange & gold : US$ 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, Bank transfer, Telegraphic transfer, Credit 30-90 days
Sales Term
Local : Prepayment, Cash, Credit card, Bank transfer, Credit 30-90 days
International : Prepayment, Bank transfer, Telegraphic transfer, 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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.20 |
|
UK Pound |
1 |
Rs.87.79 |
|
Euro |
1 |
Rs.70.43 |
INFORMATION DETAILS
|
Report Prepared
by : |
SMN |
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 |
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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 |
|
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.