MIRA INFORM REPORT
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Report Date : |
05.09.2012 |
IDENTIFICATION DETAILS
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Name : |
ABARIS PRINTING & PUBLISHING CO.
PROPRIETARY LIMITED |
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Formerly Known As : |
ABARIS
PRINTING & PUBLISHING CO. LIMITED |
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Registered Office : |
38 Park West
Drive, Derrimut, Victoria, Zip/postal code 3030 |
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Country : |
Australia |
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Date of Incorporation : |
13.07.1955 |
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Com. Reg. No.: |
004340685 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Production, printing and distribution of labels, folding cartons and in-mould labels |
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No. of Employees : |
120
employees (Subject) |
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 – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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.
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Source : CIA |
Verified Address
Subject name :
ABARIS PRINTING &
PUBLISHING CO. PROPRIETARY LIMITED
Business
address : 38 Park West Drive
Town : Derrimut
Province : Victoria
Zip/postal
code : 3030
Country : Australia
Tel : +61 3 92672677
Fax : +61 3 92672600
Email : cjc@abaris.com.au
Website : www.abaris.com.au
Registered
address : 38 Park West Drive
Town : Derrimut
Province : Victoria
Zip/postal
code : 3030
Country : Australia
Executive Summary
Date founded
or registered : 13/07/1955
Legal form : Australian
Proprietary Company
Chief
executive : Simon
Andrew Brennan
Issued &
paid up capital : AUD 4,250,000
Sales turnover
: AUD 25,000,000
(Estimated Non-consolidated 12 months, 30/06/2011)
Line of
business : Production,
printing and distribution of labels, folding cartons and in-mould labels.
Staff employed
: 120 employees
(Subject)
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 : 13/07/1955
Legal form : Australian Proprietary Company
Registration
no Australian Company Number:
004340685
Registered
authority : Australian Securities and
Investments Commission
Fiscal/ Tax no
: Australian Business Number:
35004340685
Registry
status : Live/Active
Previous name
: ABARIS PRINTING &
PUBLISHING CO. LIMITED (initial)
Change of
legal form : None reported.
Key Management
Name : Simon Andrew Brennan
Designation : Managing Director
Name : Chris Clarke
Designation : General Manager
Appointments
Name : Simon Andrew Brennan
Designation : Director and Company Secretary
Appointment
date : 28/11/97
Address : 123 Riversdale Road
Hawthorn, VIC 3122
Australia
Biography : Born on 29-08-1968 in
Melbourne, Victoria, Australia.
Staff employed
: 120 employees (Subject)
Key Advisors
Auditors : PITCHER PARTNERS
Level 6, 161 Collins Street
Melbourne, VIC 3000
Australia
Composition
Authorized
Capital : AUD 4,250,000
No of shares :
4,250,000 Ordinary Shares
Share par
value : AUD 1
Issued capital
: AUD 4,250,000
Paid up capital : AUD
4,250,000
How listed : Full List
Composition
Shareholder
name : ABARIS (AUSTRALIA) PTY LTD
Address : 38 Park West Drive
Derrimut, VIC 3030
Australia
No. of shares
: 4,250,000 Ordinary Shares
% of shares : 100%
Structure
Name : ABARIS PTY LTD
Affiliation
type : Ultimate
Holding Company
Address : 38 Park West Drive
Derrimut, VIC 3030
Australia
Name : ABARIS HOLDINGS PTY LTD
Affiliation
type : Intermediate
Holding Company
Address : 38 Park West Drive
Derrimut, VIC 3030
Australia
Name : ABARIS (AUSTRALIA) PTY
LTD
Affiliation
type : Parent
Company
Address : 38 Park West Drive
Derrimut, VIC 3030
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
Source of
financial statement : External Sources
Financial
statement date : 30/06/11
Type of
accounts : Estimated
key figures
Currency : Australia Dollar
(AUD)
Exchange rate
: 1 USD = AUD 0.98
as of 03-09-2012
Summarized
Financial Information
Consolidation
type : Non Consolidated
Currency : Australia
Dollar (AUD)
Denomination :
(x1) One
Date of
financial year end : 30/06/11
Length of
accounts : 12 months
Sale turnover
/ Income : 25,000,000
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 $12.5 million, and
-The company
and any entities it controls have fewer than 50 employees at the end of the
financial year.
OPERATION DETAILS
Main
activities : The
Subject engages in production, printing and distribution of labels and
folding cartons.
The Subject
provides its products mainly to the fast moving consumer goods market.
Product & services :
· Printing services
· Labels
· Folding Cartons
· In Mould Labels (IML)
· Pressure Sensitive Labels
Purchases
International
: Asia
Sales
Local : Yes
International
: No exports
Property &
Assets
Premises : The Subject operates from
premises located at the verified heading
address consisting of an administrative office, warehouse
and production
facilities.
Branches : None reported.
Intellectual property : The Subject is ISO9001:2000 certified and HACCP Accredited.
Central bank : Reserve Bank of Australia
Reserve of foreign exchange & gold : US$ 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 2007: US$45,477 million
2008: US$46,722 million
2009: US$22,572 million
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
: Prepayment, Bank
transfer, Credit 30-90 days
Sales Term
Local : Prepayment, Bank
transfer, Credit 30-90 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.55.54 |
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UK Pound |
1 |
Rs.88.23 |
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Euro |
1 |
Rs.70.02 |
INFORMATION DETAILS
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Report Prepared
by : |
MNL |
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.