MIRA INFORM REPORT
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Report Date : |
04.10.2012 |
IDENTIFICATION DETAILS
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Name : |
SCALZO TRADING CO PTY LTD |
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Registered Office : |
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Country : |
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Financials (as on) : |
30.06.2009 |
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Date of Incorporation : |
06.05.1977 |
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Legal Form : |
Proprietary Company |
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Line of Business : |
Import, Manufacture and Distribution of food products |
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No. of Employee: |
210 |
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 – 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
SCALZO TRADING CO PTY
LTD
T/AS SCALZO FOOD
INDUSTRIES
ACN: 005 318 810
ABN: 52 005 318
810
INCORPORATED 06.05.1977
REGISTERED ADDRESS 170
Kensington Rd
WEST
MELBOURNE, VIC 3003
SHARECAPITAL $10,000
SHAREHOLDERS SCALZO
P/L Holds
9,200 shares
SCALZO,
Lina Holds 400
shares
SCALZO,
Quinton Holds 400
shares
DIRECTORS RANKIN, Geoffrey
Donald
26 Forbes St
RYE, VIC 3941
HAYDEN, Clay Patrick
6 Walter St
SOUTH
YARRA, VIC 3141
GHELANI,
Pravin Ranchhoddas
64
Grandview Rd
WHEELERS
HILL, VIC 3150
SCALZO,
Michael
14
The Grange
MALVERN
EAST VIC 3145
SCALZO,
Quinton
14
Central Park Rd
MALVERN
EAST, VIC 3145
SECRETARY SANT,
Bill
REGISTERED CHARGES Registered Charge Number : 1876330
Date :
05.11.2009
Status : Fixed
and floating
Creditor : Falvo
Investments
Registered
Charge Number : 1083450
Date :
16.09.2004
Status : Fixed
and floating
Creditor : Falvo
Investments
Registered Charge Number : 177022
Date :
23.01.1987
Status : Fixed
and floating
Creditor : Westpac
Bank
TRADING ADDRESS 160
– 174 Kensington Rd
KENSINGTON,
VIC 3031
TELEPHONE (613) 9245 7000
FACSIMILE (613) 9245 7050
TRADING STYLE SCALZO FOOD INDUSTRIES
HOLDING ENTITY SCALZO PTY LTD
CONTROLLED ENTITY DAVMICA
P/L
BRANCHES WETHERILL
PARK, NSW
MORNINGSIDE,
QLD
WELSHPOOL,
WA
New
Zealand
BANK WESTPAC
BANKING CORPORATION
EMPLOYEES 210
The subject was incorporated in Victoria on 6 May 1977 under the current style to commence operations as a new venture.
Operations were originally founded in1962.
By 1978, the subject was generating revenue of $1.2 million, which resulted in an operating loss.
In September 1984, the subject moved to larger premises in Normanby Rd, Port Melbourne. Staff had grown to nine and turnover was $8.4 million.
1993 saw the opening of the purpose built national headquarters and central warehouse in West Melbourne, Victoria. During this period, the company doubled its turnover to $50 million and increased staff to thirty-six.
Sales for the financial year ending 30 June 2002 were $118 million, and staff numbers had grown to 98.
The subject operates in the import, manufacture and distribution of food products.
Activities are conducted from premises located at the above listed trading address.
A search of failed to trace any litigation listed against the subject at that date.
During the current interview conducted with Company Secretary Bill Sant, he advised that for the last financial year ended 30 June 2010 the subject traded profitably and recorded revenue of $260,000,000.
Further details pertaining to the subject’s financial position were not released for the current enquiry.
From the subject’s financial statements, it is noted that for the financial year ended 30 June 2009 the subject recorded consolidated revenue of $249,296,315, which resulted in an operating profit before tax of $13,496,505 and an operating profit after tax of $9,181,044 representing a Net Profit Margin of 3.68%.
Below is a summary of the subject’s income results for the past two financial years.
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Scalzo Trading Co Pty Ltd |
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As at 30 June 2009 |
As at 30 June 2008 |
Change (%) |
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Revenue |
$249,296,315 |
$215,763,305 |
15.54% |
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Profit b/tax |
$13,496,505 |
$11,941,905 |
13.02% |
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Profit a/tax |
$9,181,044 |
$8,245,878 |
11.34% |
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Net Profit Margin |
3.68% |
3.82% |
-0.14% |
During fiscal 2009, the subject recorded consolidated Net Cashflows from operating activities totalling $5,639,095.
As at 30 June 2009, the subject recorded total current assets of $82,986,818. They included cash of $64,025, receivables of $35,806,509 and Inventories of $47,116,284.
Current liabilities at the same date totalled $49,986,053 and included payables of $25,696,551, interest bearing liabilities of $16,151,120 and provisions of $2,826,665.
As at 30 June 2009, the subject recorded consolidated Working Capital of $33,000,765 and a current ratio of 1.66 to 1 indicating a sound liquidity position.
Net Assets totalled $43,776,359 as at 30 June 2009. At this date, the subject further recorded a Debt to Equity ratio of 1.17 to 1.
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Scalzo Trading Co Pty Ltd |
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As at 30 June 2009 |
As at 30 June 2008 |
Change (%) |
|
Revenue |
$249,296,315 |
$215,763,305 |
15.54% |
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Profit b/tax |
$13,496,505 |
$11,941,905 |
13.02% |
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Profit a/tax |
$9,181,044 |
$8,245,878 |
11.34% |
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Net Profit Margin |
3.68% |
3.82% |
-0.14% |
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Current Assets |
$82,986,818 |
$69,385,546 |
19.60% |
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Non Current Assets |
$11,862,550 |
$11,811,357 |
0.43% |
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Total Assets |
$94,849,368 |
$81,196,903 |
16.81% |
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Current Liabilities |
$49,986,053 |
$37,475,172 |
33.38% |
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Non Current Liabilities |
$1,086,956 |
$1,626,416 |
-33.17% |
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Total Liabilities |
$51,073,009 |
$39,101,588 |
30.62% |
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Net Assets |
$43,776,359 |
$42,095,315 |
3.99% |
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Working Capital |
$33,000,765 |
$31,910,374 |
3.42% |
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Current Ratio |
1.66 |
1.85 |
-10.33% |
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Debt to Equity |
1.17 |
0.93 |
25.60% |
Details pertaining to the subject’s suppliers are yet to be provided for the current enquiry.
A trade survey on the subject was subsequently unable to be conducted.
The subject was incorporated in Victoria on 6 May 1977 under the current style to commence operations as a new venture.
Operations were originally founded in 1962.
For the last financial year ended 30 June 2010 the subject traded profitably and recorded revenue of $260,000,000.
For the financial year ended 30 June 2009 the subject recorded consolidated revenue of $249,296,315, which resulted in an operating profit before tax of $13,496,505 and an operating profit after tax of $9,181,044 representing a Net Profit Margin of 3.68%.
During fiscal 2009, the subject recorded consolidated Net Cashflows from operating activities totalling $5,639,095.
As at 30 June 2009, the subject recorded consolidated Working Capital of $33,000,765 and a current ratio of 1.66 to 1 indicating a sound liquidity position.
Net Assets totalled $43,776,359 as at 30 June 2009.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.52.33 |
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UK Pound |
1 |
Rs.84.30 |
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Euro |
1 |
Rs.67.45 |
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.