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Report Date : |
31.10.2012 |
IDENTIFICATION DETAILS
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Name : |
APPAREL GROUP PTY LIMITED |
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Formerly Known As : |
KRATNET PTY LTD (initial) |
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Registered Office : |
C/o AUSTRALIAN BUSINESS NOMINEES PTY LIMITED 'Mlc Centre' Level |
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Country : |
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Date of Incorporation : |
26.04.1985 |
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Com. Reg. No.: |
002923551 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Retailer of clothing apparel under the brand name
Sportscraft, Saba and |
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No. of Employees : |
900 employees (Apparel Group) |
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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
Verified Address
Subject name : APPAREL GROUP PTY
LIMITED
Other style /
Business name : SPORTSCRAFT / SABA /
WILLOW
Business address :
830 Elizabeth Street
Town : Waterloo
Province : New South Wales
Zip/postal code : 2017
Country : Australia
Tel : +61 2
83063700
Fax : +61 2
83063960
Email : contactus@apparelgroup.com.au
Website : www.apparelgroup.com.au
Registered address
: C/o AUSTRALIAN BUSINESS
NOMINEES PTY LIMITED
'Mlc Centre' Level 53
19-29 Martin Place
Town : Sydney
Province : New South Wales
Zip/postal code : 2000
Country : Australia
Postal address : P.O. Box 289
Town : Alexandria
Province : New South Wales
Zip/postal code : 1435
Country : Australia
Executive Summary
Date founded or
registered : 26/04/1985
Legal form : Australian
Proprietary Company
Chief executive : Daniel Spencer Bracken
Issued & paid
up capital : AUD 449
Line of business :
Retailer
of clothing apparel under the brand name Sportscraft, Saba and Willow.
Staff employed : 900 employees (Apparel
Group)
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 undetermined
Organization
structure : Organizational
structure is stable
Detrimental : No detrimental found
Payment history : No payment delays noted
Registry Data
Registration date
: 26/04/1985
Legal form : Australian
Proprietary Company
Registration no Australian Company
number: 002923551
Registered
authority : Australian
Securities and Investments Commissions
Fiscal/ Tax no : Australian Business
Number: 36155404826
Registry status : Live/Active
Previous name : SF BEAUJOLAIS PTY.
LIMITED
BEAUJOLAIS PTY LTD
KRATNET PTY LTD (initial)
Change of legal
form : None reported.
Key Management
Name : Daniel Spencer Bracken
Designation : Chief Executive Officer
Appointments
Name : Andrew Carrington
Michael
Designation : Director and Company Secretary
Appointment date :
06/04/88
Address : 5 Bulkara Road
Bellevue Hill, NSW 2023
Australia
Biography : Born on 23/11/1957 in Sydney,
New South Wales,
Australia.
Name : John Carrington
Marshall
Designation : Director
Appointment date :
13/05/85
Address : 3
Wolseley Crescent
Point Piper, NSW 2027
Australia
Biography : Born on 28/01/1950 in Sydney,
New South Wales,
Australia.
Name : Shelley Roberts
Designation : Director
Appointment date : 25/08/11
Address : Unit 8, 17 Shellcove Road
Neutral Bay, NSW 2089
Australia
Biography : Born on 11/02/1975 in
Capetown, South Africa.
Name : Daniel Spencer
Bracken
Designation : Director
Appointment date :
15/10/11
Address : Unit 2, 18 March Street
Bellevue Hill, NSW 2023
Australia
Biography : Born on 08/02/1968 in London,
United Kingdom.
Name : David Marshall
Designation : Director
Appointment date :
30/11/09
Address : 19 Cambridge Street
Paddington, NSW 2021
Australia
Biography : Born on 27/10/1976 in Sydney,
New South Wales,
Australia.
Name : Guy Reypert
Designation : Director
Appointment date :
13/05/11
Address : 163 Brook Street
Coogee, NSW 2034
Australia
Biography : Born on 11/09/1971 in Kandy,
Sri Lanka.
Name : Graeme Peter Maher
Designation : Director
Appointment date :
23/02/06
Address : Unit 23, 498 Bourke Street
Surry Hills, NSW 2010
Australia
Biography : Born on 23/03/1943 in
Singleton, New South Wales, Australia.
Staff employed : 900 employees (Apparel Group)
Composition
Authorized Capital
: AUD 449
No of shares : 449 Ordinary Shares
Share par value : AUD 1
Issued capital : AUD 449
Paid up capital : AUD 449
How listed : Full
List
Composition
Shareholder name :
J.C. MARSHALL PTY. LIMITED
Address : C/o AUSTRALIAN BUSINESS
NOMINEES PTY LIMITED
'Mlc Centre' Level 53
19-29 Martin Place
Sydney, NSW 2000
Australia
No. of shares : 225 Ordinary Shares
Shareholder name :
MICHAEL SECURITIES PTY. LIMITED
Address : C/o AUSTRALIAN BUSINESS
NOMINEES PTY LIMITED
'Mlc Centre' Level 53
19-29 Martin Place
Sydney, NSW 2000
Australia
No. of shares : 224 Ordinary Shares
Structure
Name : J.C. MARSHALL PTY.
LIMITED
Affiliation type :
Parent Company
Address : C/o AUSTRALIAN BUSINESS
NOMINEES PTY LIMITED
'Mlc Centre' Level 53
19-29 Martin Place
Sydney, NSW 2000
Australia
Name : MICHAEL SECURITIES PTY.
LIMITED
Affiliation type :
Minority Shareholder
Address : C/o AUSTRALIAN BUSINESS
NOMINEES PTY LIMITED
'Mlc Centre' Level 53
19-29 Martin Place
Sydney, NSW 2000
Australia
Name : SABA TRADING PTY
LIMITED
Affiliation type :
Subsidiary
Address : 830 Elizabeth Street
Waterloo, NSW 2017
Australia
Name : MARSHALL GROUP HOLDINGS
PTY LTD
Affiliation type :
Associate
Address : Suite 1 , Level 12, 53
Martin Place
Sydney, NSW 2000
Australia
Name : MARSHALL INVESTMENTS
PTY LIMITED
Affiliation type :
Associate
Address : Suite 1 , Level 12, 53
Martin Place
Sydney, NSW 2000
Australia
Bank Details
Name of bank : National Australia 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
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 $12.5 million, and
-The company and any entities it controls have fewer than 50 employees
at the
end of the financial year.
Main activities : The Subject is engaged as retailer
of clothing apparel under the brand
name Sportscraft, Saba and Willow.
The Subject also has a private label division which provides design and
manufacturing services for many leading Australian retailers.
Brand : Sportscraft
SABA
Willow
Purchases
International : Mainly from China, India
Sales
Local : Yes
International : No exports.
Property & Assets
Premises : The Subject operates from
premises located at the verified heading
address consisting of a warehouse and an administrative office.
Branches : In addition, the Subject
operates from approximately 140 stores under the
brand name Sportscraft, SABA and Willow.
Gross Domestic Products (GDP) & Economic
Overview
Central bank : Reserve
Bank of Australia
Reserve of foreign
exchange & gold : US$ 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, Telegraphic transfer, Credit 30-120 days
Sales Term
Local : Cash,
Credit card, Prepayment, 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.54.16 |
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1 |
Rs.86.83 |
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Euro |
1 |
Rs.69.85 |
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 |
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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 |
-- |
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.