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Report Date : |
08.10.2012 |
IDENTIFICATION DETAILS
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Name : |
SCALZO TRADING
CO. PROPRIETARY LIMITED |
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Registered Office : |
156-174
Kensington Road West Melbourne Victoria 3003 |
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Country : |
Australia |
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Date of Incorporation : |
06.05.1977 |
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Com. Reg. No.: |
005318810 |
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Legal Form : |
Australian
Proprietary Company |
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Line of Business : |
Import,
manufacturing and distribution of food products and ingredients. |
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No. of Employees : |
260 employees |
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
|
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 : SCALZO TRADING CO.
PROPRIETARY LIMITED
Other style /
Business name : SCALZO FOOD INDUSTRIES
Business address :
156-174 Kensington Road
Town : West
Melbourne
Province : Victoria
Zip/postal code : 3003
Country : Australia
Tel : +61 3 92457000
Fax : +61 3
92457050
Email : scalzo@scalzofoods.com.au
Website : www.scalzofoods.com.au
Registered address
: 156-174 Kensington Road
Town : West
Melbourne
Province : Victoria
Zip/postal code : 3003
Country : Australia
Executive Summary
Date founded or
registered : 06/05/1977
Legal form : Australian
Proprietary Company
Chief executive : Quinton Scalzo
Issued & paid
up capital : AUD 4,800
Sales turnover : AUD 200,000,000
(Estimated Non-consolidated 12 months, 30/06/2012)
Line of business :
Import, manufacturing
and distribution of food products and ingredients.
Staff employed : 260 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 good
Organization
structure : Organizational
structure is stable
Detrimental : No detrimental found
Payment history : No payment delays noted
Registry Data
Registration date
: 06/05/1977
Legal form : Australian Proprietary Company
Registration no Australian Company Number:
005318810
Registered
authority : Australian Securities &
Investments Commission
Fiscal/ Tax no : Australian Business Number:
52005318810
Registry status : Live/Active
Previous name : None reported.
Change of legal
form : None reported.
Other registration
: SCALZO FOOD INDUSTRIES is a
business name owned by the Subject
registered under business registration no: BN04349957 / 1020996L /
M2876020 /
BN4367224 / 0236306P.
Key Management
Name : Quinton Scalzo
Designation : Managing Director
Name : Michael Scalzo
Designation : Chief Executive Officer
Appointments
Name : Quinton Scalzo
Designation : Director
Appointment date :
06/05/77
Address : 14 Central Park Road
Malvern East, VIC 3145
Australia
Biography : Born on 24-05-1947 in
Decollatura, Italy.
Name : Michael Scalzo
Designation : Director
Appointment date :
21/05/97
Address : 14 The Grange
Malvern East, VIC 3145
Australia
Biography : Born on 06-08-1972 in
Melbourne, Victoria, Australia.
Name : Geoffrey Donald Rankin
Designation : Director
Appointment date :
23/09/10
Address : 26 Forbes Street
Rye, VIC 3941
Australia
Biography : Born on 01-03-1955 in
Southport, Queensland, Australia.
Name : Clay Patrick Hayden
Designation : Director
Appointment date :
01/04/99
Address : 1A Douglas Street
Toorak, VIC 3142
Australia
Biography : Born on 07-03-1953 in
Auckland, New Zealand.
Name : Bill Sant
Designation : Company Secretary
Appointment date :
20/02/04
Address : 63 Lady Nelson Way
Keilor Downs, VIC 3038
Australia
Biography : Born on 01-04-1958 in Malta.
Staff employed : 260 employees
Key Advisors
Auditors : GRANT THORNTON AUDIT PTY
LTD
Level 19, 2 Market Street
Sydney, NSW 2000
Australia
Composition
Authorized Capital
: AUD 4,800
No of shares : 800 Class A Shares / 4,000 Class B
Shares
Share par value : AUD 1
Issued capital : AUD 4,800
Paid up capital : AUD 4,800
How listed : Full
List
Composition
Shareholder name :
HIGHBROOK HOLDINGS PTY LTD
Address : 156-174 Kensington Road
West Melbourne, VIC 3003
Australia
No. of shares : 800 Class A Shares / 4,000 Class B
Shares
% of shares : 100%
Structure
Name : HIGHBROOK HOLDINGS PTY
LTD
Affiliation type :
Parent Company
Address : 156-174 Kensington Road
West Melbourne, VIC 3003
Australia
Name : SCALZO TRADING CO.
PROPRIETARY LIMITED
Affiliation type :
Associate
Address : 46 Business Parade North
East Tamaki, Auckland 2013
New Zealand
Comments : Registered as an Overseas ASIC
Company in New Zealand.
Name : SCALZO KENSINGTON PTY
LTD
Affiliation type :
Associate
Address : 156-174 Kensington Road
West Melbourne, VIC 3003
Australia
Name : SCALZO BAYLES PTY LTD
Affiliation type :
Associate
Address : 156-174 Kensington Road
West Melbourne, VIC 3003
Australia
Name : SCALZO APPOINTOR CO PTY
LTD
Affiliation type :
Associate
Address : 156-174 Kensington Road
West Melbourne, VIC 3003
Australia
Name : DAVMICA PTY. LTD.
Affiliation type :
Wholly-owned
Subsidiary
Address : 156-174 Kensington Road
West Melbourne, VIC 3003
Australia
Name : DAVMICA (2012) PTY LTD
Affiliation type :
Wholly-owned
Subsidiary
Address : 156-174 Kensington Road
West Melbourne, VIC 3003
Australia
Bank Details
Name of bank : Westpac Bank
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 0.98 as of
05-10-2012
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 : 200,000,000
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.
The Subject meets all criteria to reveal their financial information
however is still
exempted from filling their financial information by the Government of
Australia.
Main activities : The Subject engages in
import, manufacturing, distribution and retail sales
of food products and ingredients.
Product &
services : Nuts
Processed fruits
Vegetables
Coconut
Grains
Seeds
Rice
Herbs
Ausdryd
Starches
Emulsifiers, Thickeners & Fibres
Snack Products
Brand : NUTTERS (The
Subject's own retail brand)
FRESHLIFE (The Subject's own retail brand)
Purchases
International : Worldwide
Sales
Local : Yes
International : Worldwide
Key events : 12 June 2012
Purpose built facility in New Zealand in operation
Scalzo started operations in New Zealand back in 1994 and have now
consolidated sales, manufacturing and warehousing operations at a new
Highbrook site with the recent completion of these facilities.
Highbrook is located 15 km south of Central Auckland and considered a
world class industrial park.The total site area is 5,500 m2 encompassing
3,000m2 of warehouse and 1,500 m2 manufacturing. The factory footprint
is more than double the previous Penrose site and it is a clear
statement of
future manufacturing plans. It is purpose built, modern and has a fully
segregated room allowing gluten free products to be packed.
The warehouse is for dry goods and the roof is specially designed to
prevent significant temperature fluctuations which is also helped by
mechanical ventilation. A paperless warehouse management system
controls all inventory and the latest racking and fork-hoist equipment
is in
place.Staff facilities are ample and comfortable.
The site is approved by New Zealand Quarantine and it has also been
licensed under RMP for handling meat products destined for exports.Other
quality certification includes ISO22000, HACCP and BRC accreditation
plus compliance with individual customer standards.
Property & Assets
Premises : The Subject operates from
premises located at the verified heading
address consisting of an production facilities, warehouse and
administrative office.
Branches : In addition, the Subject operates from branches located at:
8 Hexham Place
Wetherill Park, NSW 2164
Australia
Tel: +61 2 9756 5588
130 Riverside Place
Morningside, QLD 4170
Australia
Tel: +61 7 3899 9205
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 :
L/C, Prepayment, D/P, Telegraphic transfer, Credit 30-120 days
Sales Term
Local :
Prepayment, D/P, Bank transfer, Credit 30-120 days
International :
L/C, Prepayment, D/P, Telegraphic transfer, Credit 30-120 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.51.62 |
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|
1 |
Rs.83.57 |
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Euro |
1 |
Rs.67.17 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
|
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 |
|
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 |
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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 |
|
-- |
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.