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Report Date : |
01.10.2012 |
IDENTIFICATION DETAILS
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Name : |
AUSTOILS PTY LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
17.03.2009 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Manufacturing and distribution of organic sandalwood oil. |
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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 |
|
|
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) |
|
Australia |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 : AUSTOILS
PTY LTD
Business address : 39
Wellard Street
Town : Bibra
Lake
Province : Western
Australia
Zip/postal code : 6163
Country : Australia
Tel : +61
8 94345633
Fax : +61
8 94345280
Website : www.austoils.com.au
Registered address : Lot
101 Fifty Road
Town : Baldivis
Province : Western
Australia
Zip/postal code : 6171
Country : Australia
Postal address : P.O.
Box 478
Town : Kwinana
Province : Western
Australia
Zip/postal code : 6966
Country : Australia
Executive
Summary
Date founded or registered : 17/03/2009
Legal form : Australian
Proprietary Company
Chief executive : Stephen
John Darley
Issued & paid up capital : AUD 1,000
Sales turnover : 3,000,000
(Estimated Non-consolidated 12 months, 30/06/2012)
Line of business : Manufacturing
and distribution of organic sandalwood oil.
Staff employed : 13
employees
Country risk : Country
risk is minimal
Operation trend : Operational
trend is in start-up phase
Management experience : Management
is modestly experienced
Financial performance : Financial
performance is fair
Organization structure : Organizational
structure is acceptable
Detrimental : No detrimental found
Payment history : No
payment delays noted
Registry
Data
Registration date : 17/03/2009
Legal form : Australian
Proprietary Company
Registration no Australian Company Number: 135905510
Registered authority : Australian
Securities and Investments Commission
Fiscal/ Tax no : Australian Business Number: 75135905510
Registry status : Live/Active
Previous name : None
reported.
Change of legal form : None
reported.
Key
Management
Name : Stephen
John Darley
Designation
: Managing
Director
Appointments
Name : Stephen
John Darley
Designation : Director
and Company Secretary
Appointment date : 17/03/09
Address : Lot
101 Fifty Road
Baldivis,
WA 6171
Australia
Biography : Born
on 18-03-1961 in Northam, Western Australia, Australia.
Staff employed : 13
employees
Composition
Authorized Capital : AUD
1,000
No of shares : 1,000
Ordinary Shares
Share par value : AUD
1
Issued capital : AUD
1,000
Paid
up capital : AUD
1,000
How listed : Full
List
Composition
Shareholder name : DARLEX
PTY. LTD.
Address : Lot
101 Fifty Road
Baldivis,
WA 6171
Australia
No. of shares : 600
Ordinary Shares
Shareholder name : Michelle
Keefe
Address : 4
Brolga Court
Beeliar,
WA 6164
Australia
No. of
shares : 400 Ordinary Shares
Structure
Name : DARLEX
PTY. LTD.
Affiliation type : Parent
Company
Address : Lot
101 Fifty Road
Baldivis,
WA 6171
Australia
Bank
Details
Name of bank : Westpac
Banking Corporation
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 : 30/06/12
Type of accounts : Estimated
key figures
Currency : Australia
Dollar (AUD)
Exchange rate : 1
USD = AUD 0.96 as of 28-09-2012
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 : 3,000,000
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
$12.5 million, and -The company and any entities it controls have fewer than 50
employees at the end of the financial year.
Main
activities : The
Subject engages in manufacturing and distribution of organic sandalwood oil.
The Subject products are mainly distributed to the beauty & personal care
industry.
The
Sandalwood (Santalum Spicatum) is sourced from native Western
Australian
trees.
Brand : Austoils
Purchases
International : China
Sales
Local : Yes
International : Middle
East, Asia
Property
& Assets
Premises
: The
Subject operates from premises located at the verified heading address
consisting of an production facilities, warehouse and administrative office.
Branches : None
reported.
SUMMARIZED COUNTRY RISK
Gross
Domestic Products (GDP) & Economic Overview
Central bank : Reserve
Bank of Australia
Reserve of foreign exchange & gold : US$ 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
Local : Prepayment, Bank transfer, Credit 30-60 days
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.69 |
|
|
1 |
Rs.85.71 |
|
Euro |
1 |
Rs.68.14 |
INFORMATION DETAILS
|
Report Prepared by
: |
PDT |
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 |
|
-- |
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.