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Report Date : |
11.10.2012 |
IDENTIFICATION DETAILS
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Name : |
COUNTRY ROAD CLOTHING PTY. LTD. |
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Formerly Known As : |
THE COUNTRY ROAD CLOTHING COMPANY SHOPS PTY. LTD. WAGGONER PTY. LTD. (initial) |
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Registered Office : |
658 Church Street Richmond Victoria 3121 |
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Country : |
Australia |
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Financials (as on) : |
30.06.2012 (Group Consolidated) |
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Date of Incorporation : |
14.03.1978 |
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Com. Reg. No.: |
005419447 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Designing and retailing of apparel, homewares and related accessories. |
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No. of Employees : |
1,360 employees (Country Road Group); 27,000 employees (Woolworths Group) |
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 : COUNTRY ROAD CLOTHING PTY. LTD.
Business address :
658 Church Street
Town : Richmond
Province : Victoria
Zip/postal code : 3121
Country : Australia
Tel : +61
3 92671400
Fax : +61 3 92671300
Email : customerservice@countryroad.com.au
Website : www.countryroad.com.au
Registered address
: 658 Church Street
Town : Richmond
Province : Victoria
Zip/postal code : 3121
Country : Australia
Executive Summary
Date founded or
registered : 14/03/1978
Legal form : Australian
Proprietary Company
Chief executive : Iain Nairn
Issued & paid
up capital : AUD 27,500,002
Sales turnover : AUD 422,291,000 (Group
Consolidated, 12 months 30/06/2012)
Net income : AUD 16,103,000
(Group Consolidated, 12 months 30/06/2012)
Total fixed assets
: AUD 146,282,000
(Group Consolidated, 12 months 30/06/2012)
Line of business :
Designing and
retailing of apparel, homewares and related accessories.
Staff employed : 1,360 employees (Country
Road Group); 27,000 employees (Woolworths Group)
Company Analysis
Country risk : Country risk is
minimal
Operation trend : Operational trend is
declining
Management
experience : Management is
adequately experienced
Financial
performance : Financial
performance is good
Organization
structure : Organizational
structure is stable
Detrimental : No detrimental records found
Payment history : No payment delays noted
Comments : Larger credit can
still be considered. The Subject is well positioned in the market
and the financial stability of the group is positive.
Registry Data
Registration date
: 14/03/1978
Legal form : Australian
Proprietary Company
Registration no Australian Company
Number: 005419447
Registered
authority : Australian
Securities and Investments Commission
Fiscal/ Tax no : Australian
Business Number: 84005419447
Registry status : Live/Active
Previous name : THE
COUNTRY ROAD CLOTHING COMPANY SHOPS PTY. LTD. WAGGONER PTY. LTD. (initial)
Change of legal
form : None reported.
Key Management
Name : Iain Nairn
Designation : Chief Executive Officer
Name : Sophie Holt
Designation : Creative Director
Name : David Andrew Thomas
Designation : Chief Operating Officer
Name : Oliver Kysela
Designation : Chief Financial Officer
Name : Derek Muirhead
Designation : General Manager - Merchandise
Name : Jacqui Moore
Designation : General Manager - Marketing
Appointments
Name : Norman William Thomson
Designation : Director
Appointment date :
31/01/06
Address : 2 Firdale Road
Newlands
Cape Town 7700
South Africa
Biography : Born on 26-06-1951 in
Pretoria, South Africa.
Mr. Norman Thomson serves as Non-Executive Director at Country
Road Ltd. Mr. Thomson was appointed to the Board on December 6,
2000. He is currently the Director of Finance and an Executive
Director of Woolworths Holdings Limited (listed on the Johannesburg
Stock Exchange). He has been with Woolworths since 1991 and has
held positions in Logistics, Foods, Operations, and Supply Chain. He
holds a Bachelor of Commerce and is a qualified accountant.
Name : David Andrew Thomas
Designation : Director and Company Secretary
Appointment date :
05/08/09
Address : 22-23 Larnaca Court
Templestowe, VIC 3106
Australia
Biography : Born on 07-12-1976 in
Melbourne, Victoria, Australia.
Mr. David Thomas serves as Chief Operating Officer at Country Road
Ltd since September 29, 2010. Mr. Thomas was appointed as
Company Secretary on July 24, 2009. He joined the Company in
2002 and held various executive roles before being appointed as
Chief Financial Officer and Company Secretary in July 2009. He
holds a Bachelor of Commerce, CPA, Masters Degree of Business,
Masters Degree of Marketing and an Executive Certificate in
Retailing.
Name : Ian Moir
Designation : Director
Appointment date :
23/10/98
Address : 11A Caraar Creek Road
Mornington, VIC 3931
Australia
Biography : Born on 10-12-1958 in
Dunfermline, United Kingdom.
Mr. Ian Moir serves as Chairman of the Board of Country Road Ltd
since November 18, 2011. Mr. Moir was appointed to the Board on
October 23, 1998. He was formerly the Chief Executive Officer of the
Company. Prior to working for the Company, he was Executive
Director and Chief Operating Officer of the Woolmark Company. He
has a Masters Degree in Business Administration, a Masters Degree
in Economics and is a qualified Chartered Accountant.
Name : Sophie Holt
Designation : Director
Appointment date : 20/10/10
Address : 3 The Avenue
Toorak, VIC 3142
Australia
Biography : Born on 08-06-1965 in
Melbourne, Victoria, Australia.
Ms. Sophie Holt serves and Creative Director at Country Road Ltd
since December 24, 2009. Ms. Holt was appointed to the Board on
December 29, 2009. She has been with Country Road since 2003.
Prior to joining the company, Sophie held the position of Head of
Design at Witchery.
Name : Iain Nairn
Designation : Director
Appointment date :
02/10/12
Address : Australia
Name : Paula Disberry
Designation : Director
Appointment date :
28/02/12
Address : 12 Hove Road
Camps Bay
Cape Town 8005
South Africa
Biography : Born on 15-10-1967 in Hexham,
United Kingdom.
Ms. Disberry was appointed to the Board of Country Road Limited on
28 February 2012. She has been the Group Director Clothing &
General Merchandise Planning of Woolworths Holdings Limited since
2007. She joined WHL from Tesco where she was Category Director
in Health & Beauty, after spending 10 years in various global Sales
and Marketing roles with Colgate-Palmolive. She holds a Masters
Degree in Natural Sciences from Cambridge University.
Name : Zyda Rylands
Designation : Director
Appointment date :
02/10/12
Address : Australia
Name : Oliver Kysela
Designation : Director
Appointment date :
02/10/12
Address : Australia
Staff employed : 1,360 employees (Country Road Group);
27,000 employees (Woolworths Group)
Key Advisors
Auditors : ERNST & YOUNG
8 Exhibition Street
Melbourne, VIC 3000
Australia
Composition
Authorized Capital
: AUD 27,500,002
No of shares : 27,500,002 Ordinary
Shares
Share par value : AUD 1
Issued capital : AUD 27,500,002
Paid up capital : AUD 27,500,002
How listed : Full List
Composition
Shareholder name :
COUNTRY ROAD LIMITED
Address : 658 Church Street
Richmond, VIC 3121
Australia
No. of shares : 27,500,002 Ordinary Shares
% of shares : 100%
Structure
Name : WOOLWORTHS HOLDINGS
LIMITED
Affiliation type :
Ultimate Holding
Company
Address : Woolworths House
93 Longmarket Street
Cape Town, 8001
South Africa
Comments : Woolworths Holdings Limited, an
investment holding company, provides retail and
financial services in South Africa. The company also has operations in
Africa,
Australia, New Zealand, and the Middle East. Subsidiaries The company
operates
primarily through two subsidiaries, Woolworths (Proprietary) Limited
(Woolworths)
in South Africa and Country Road Limited (Country Road) in Australia and
through a joint venture Woolworths Financial Services (Proprietary)
Limited
(Woolworths Financial Services). Woolworths Woolworths is a retail chain
of
stores operating under the Woolworths brand name throughout South Africa
and
through franchise operations in South Africa and selected African
countries, as
well as in the Middle East. Woolworths offers customers a selected range
of
clothing, food, and general merchandise. Woolworths has 330 owned retail
stores
and 118 franchised and international stores throughout South Africa,
Africa and
the Middle East. Woolworths Financial Services Woolworths Financial
Services is
jointly operated with Absa Group Limited and provides customers with a
credit
offering to assist them to purchase merchandise in Woolworths stores.
Country
Road Country Road offers a select range of clothing and homeware through
its
own dedicated retail outlets and through concessions in large department
stores
in Australia and New Zealand. It offers a range of women’s and men’s
clothing
in South Africa through selected Woolworths stores. Country Road Limited
has
115 owned retail stores and 76 concession retail outlets across
Australia and New
Zealand. History Woolworths Holdings Limited was founded in 1931.
Name : WOOLWORTHS
INTERNATIONAL (AUSTRALIA) PTY LIMITED
Affiliation type :
Intermediate
Holding Company
Address : 658 Church Street
Richmond, VIC 3121
Australia
Comments : Woolworths International
(Australia) Pty Limited through its subsidiary retails and
markets consumer electronic products. The company was registered on
11/04/1997 and is based in Richmond, Australia. Woolworths International
(Australia) Pty Limited operates as a subsidiary of Woolworths Holdings
Limited.
Name : COUNTRY ROAD LIMITED
Affiliation type :
Parent Company
Address : 658 Church Street
Richmond, VIC 3121
Australia
Comments : Country Road Limited engages in
the design and retail sale of apparel,
homewares, and related accessories in Australia, New Zealand, and South
Africa.
It offers womenswear, menswear, kidswear, gift cards, gift wraps, and
tailoring
services. Country Road Limited sells its products through 115 owned
retail stores
and 76 concession outlets under the Country Road and Trenery brand
names, as
well as through an online store. The company was registered on
13/05/1987 and
is based in Richmond, Australia. Country Road Limited is a subsidiary of
Woolworths International (Australia) Pty Limited.
Name : COUNTRY ROAD CLOTHING
(N.Z.) LIMITED
Affiliation type :
Subsidiary
Address : 164 Queen Street
Auckland Central, Auckland 1010
New Zealand
Name : COUNTRY ROAD PROPERTIES
PTY. LTD.
Affiliation type :
Sister Company
Address : 658 Church Street
Richmond, VIC 3121
Australia
Name : COUNTRY ROAD VENTURES
PTY LTD
Affiliation type :
Sister Company
Address : 658 Church Street
Richmond, VIC 3121
Australia
Name : COUNTRY ROAD
INTERNATIONAL PTY. LTD.
Affiliation type :
Sister Company
Address : 658 Church Street
Richmond, VIC 3121
Australia
Name : WOOLWORTHS
(PROPRIETARY) LIMITED
Affiliation type :
Sister Company
Address : Woolworths House
93 Longmarket Street
Cape Town, 8001
South Africa
Name : WOOLWORTHS INTERNATIONAL
(SA) (PROPRIETARY) LIMITED
Affiliation type :
Sister Company
Address : Woolworths House
93 Longmarket Street
Cape Town, 8001
South Africa
Name : WOOLWORTHS DEVELOPMENTS
(PROPRIETARY) LIMITED
Affiliation type : Sister Company
Address : Woolworths
House
93 Longmarket Street
Cape Town, 8001
South Africa
Related companies
and corporate
affiliations
comments: Other companies of the
Woolworths Holdings Group should be considered affiliates of the Subject.
Bank Details
Name of bank : National Australia Bank
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 : Satisfied Charge Details:
ASIC Charge Number: 101770
Date Registered: 29-08-1979
Date Created: 04-07-1979
Chargees Name:
Name: INTERNATIONAL LEASING COMPANY (PTY) LTD
Name: ANGLO-AFRICAN SHIPPING COMPANY (U.K.) LTD
Name: CREDFIN (PTY) LTD
Name: T.I.I.C. (PROPRIETARY LTD
Name: DOMINION SHIPPERS LIMITED
Name: AFFILIATED EXPORTERS INCORPORATED
Name: TRADE & INDUSTRY ACCEPTANCE CORPORATION (AUSTRALIA) PTY LTD
Name: INTERNATIONAL ACCEPTANCES (PROPRIETARY) LTD
Name: ANGLO AFRICAN SHIPPING CO 1936 PTY LTD
Name: ANGLO AFRICAN SHIPPING CO OF NEW YORK INCORPORATED
Name: ANGLO-AFRICAN FACTORS (PROPRIETARY LTD
Name: CREDFIN ACCEPTANCES (PROPRIETRY) LTD
Name: DAN PERKINS INTERNATIONAL LEASING (PROPRIETARY) LTD
Name: TIAC SECURITIES (PROPRIETARY) LTD
Name: COMBINED LEASING COMPANY (PROPRIETARY) LTD
Name: DAN PERKINS INSTALMENT SALES (PROPRIETARY) LTD
Name: GREEN BROTHERS LIMITD
Name: TRADE & INDUSTRY ACCEPTANCE CORPORATION LTD
Name: INTERNATIONAL SHIPPING COMPANY PTY.LIMITED
Name: FEDERATED SHIPPERS LTD
Name: FEDERATED MERCHANDISING CORPORATION LTD
Name: ELEPHANT TRADING COMPANY (RHODESIA) LTD
Name: ELEPHANT TRADING (SA) HOLDINGS LTD.
Name: LANDAU AND COETSEE (S.A) LIMITED
Name: EMPIRE STATE BUYING CORPORATION
Name: COMARKET AGENCIES LTD
Name: LANDAU & COETSEE (PVT) LTD
Name: AFFILIATED EXPORTERS (LONDON) LTD
ASIC Charge Number: 101910
Date Registered: 07-08-1980
Date Created: 24-07-1980
Chargees Name:
Name: DOMINION SHIPPERS LIMITED
Name: AFFILIATED EXPORTERS INCORPORATED
Name: TRADE & INDUSTRY ACCEPTANCE CORPORATION (AUSTRALIA) PTY LTD
Name: COMMONWEALTH INTERNATIONAL SHIPPERS (U.K.) LIMITED
ASIC Charge Number: 101999
Date Registered: 28-09-1981
Date Created: 01-09-1981
Chargees Name: PERPETUAL TRUSTEES VICTORIA LIMITED
ASIC Charge Number: 820615
Date Registered: 10-09-2001
Charge type: Both Fixed & Floating
Date Created: 30-08-2001
Chargees Name: NATIONAL AUSTRALIA BANK LIMITED
Legal Fillings
Bankruptcy
fillings : None reported.
Court judgements :
None reported.
Tax liens : None reported.
Others : None reported.
Description
Source of
financial statement : Public Record
Sources
Financial
statement date : 30/06/12
Type of accounts :
Full audited
Currency : Australia Dollar
(AUD)
Exchange rate : 1 USD = AUD 0.98 as of
09-10-2012
Summarized Financial Information
Consolidation type
: Group Consolidated Group Consolidated Group Consolidated
Currency : Australia Dollar
(AUD) Australia Dollar (AUD) South Africa, Rand (ZAR)
Denomination : (x1) One (x1) One (x1)
One
Date of financial
year end : 30/06/12 30/06/11 24/06/12
Length of accounts
: 12 months 12 months 12 months
Sale turnover /
Income : 422,291,000 423,791,000 28,604,000,000
Gross profit : 246,448,000 252,535,000 10,185,000,000
Operating profit :
21,058,000 23,477,000 2,687,000,000
Profit before tax
: 20,495,000 22,690,000 2,870,000,000
Net income : 16,103,000 18,218,000 2,059,000,000
Non current assets
: 70,994,000 75,683,000 5,011,000,000
Current assets : 75,288,000 73,597,000 5,034,000,000
Inventories : 45,396,000 48,085,000 2,216,000,000
Total assets : 146,282,000 149,280,000 10,045,000,000
Current
liabilities : 45,641,000
51,035,000 4,296,000,000
Non current
liabilities : 6,012,000 6,521,000 1,177,000,000
Total liabilities
: 51,653,000
57,556,000 5,473,000,000
Share equity : 94,629,000 91,724,000 4,572,000,000
Reserve : -4,121,000 -5,087,000
Retained earning :
24,663,000 22,724,000
Comments : The group’s
consolidated financial information in AUD above relates to the
Subject’s Parent Company Country Road Limited and all its subsidiaries
which
include the Subject.
The group’s consolidated financial information in ZAR above relates to
the
Subject’s Ultimate Holding Company Woolworths Holdings Limited and all
its
subsidiaries which include the Subject.
Main activities : The Subject is engaged
in designing and retailing of women's clothing,
footwear & accessories; men's clothing, footwear & accessories;
children's
clothing; homewares and related accessories.
Besides the Subject's retail outlets, it also sells its products online
and
offers additional services such as gift cards, gift wraps, gift
registry,
tailoring and delivery services.
The Subject is part of Country Road Limited which is an Australia-based
company engaged in the apparel and accessories retail industry. The
Company's principal activities are the designing and retailing of
apparel
homewares and related accessories through its network of retail stores
and
online store. During the fiscal year ended June 30, 2011, the Company
opened three new Country Road and seven new Trenery retail stores
across Australia and New Zealand, along with four new concession stores
in Myer, Canberra City, Australian Capital Territory. In addition, two
new
concession stores were opened in Gauteng in South Africa. As of June 30,
2011, its wholly owned subsidiaries include Country Road Clothing Pty
Ltd,
Country Road Clothing (N.Z.) Ltd, Country Road Properties Pty Ltd,
Country Road Ventures Pty Ltd, Country Road Ltd and Country Road
International Pty Ltd. The Company's ultimate parent entity is
Woolworths
Holdings Limited. In October 2012, it acquired the Witchery Group.
Woolworths Holdings Limited is an investment holding company and one of
the top 100 companies listed on the Johannesburg Securities Exchange in
South Africa. Its core business focus is the provision of retail and
financial
services to upper and middle income groups mainly in South Africa but
also
in Africa, Australia, New Zealand and the Middle East. It operates
internationally through the following subsidiaries: Woolworths
(Proprietary
Limited) and Country Road Limited. Woolworths (Proprietary) Limited – a
respected chain of 330 owned retail stores and 118 franchised and
international stores, offering a range of quality clothing, food,
homeware,
beauty and financial services under its own brand name in South Africa,
Africa and the Middle East.
Brand : TRENERY
COUNTRY ROAD
Purchases
International :
Contract manufacturing conducted mainly from Asian countries
Sales
Local : Yes
International : New Zealand
Property & Assets
Premises : The Subject operates from
head office located at the verified heading
address consisting of an administrative office and warehouse.
Branches : In addition, the Country Road
Group operates from 115 owned retail stores
and 76 concession outlets located throughout Australia and New Zealand.
Gross Domestic Products (GDP) & Economic
Overview
Central bank : Reserve
Bank of Australia
Reserve of foreign
exchange & gold : US$ 41.385
billion
Gross domestic
product - GDP : US$ 1.235
trillion
GPP (Purchasing
power parity) : 918.529 billion
of International dollars
GDP per capita -
current prices : US$ 55,590
GDP - composition
by sector : agriculture: 4.1%
industry: 26%
services: 70%
Inflation : 2008:
4.4%
2009: 1.8%
2010: 2.8%
Unemployment rate
: 2008: 4.2%
2009: 5.6%
2010: 5.2%
Public debt
(General
Government gross debt as
a % GDP): 2008:
11.6%
2009: 17.6%
2010: 22.3%
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 : China
15.5%, US 12.8%, Japan 9.6%, Singapore 5.6%, Germany 5.2%,
UK 4.3%, Thailand 4.2%
FDI Outflows : 2007:
US$16,822 million
2008: US$32,819 million
2009: US$18,426 million
Best countries for
doing business : 10 out of 183
countries
Global
competitiveness ranking : 16 (ranking
by country on a basis of 133, 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: 74.00%
Purchase Term
International :
L/C, Telegraphic transfer, Credit up to 120 days
Sales Term
Local : Cash,
Credit card
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.53.04 |
|
|
1 |
Rs.84.83 |
|
Euro |
1 |
Rs.68.21 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.