MIRA INFORM REPORT
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Report Date : |
08.09.2012 |
IDENTIFICATION DETAILS
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Name : |
CROCI AUSTRALIA PTY LTD |
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Formerly Known As : |
AUSTRALIAN PROFILE INDUSTRIES
PTY. LTD. |
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Registered Office : |
C/O Steven Vincini & Co, 80 Sydney Road, Coburg, Victoria, Zip/Postal Code 3058 |
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Country : |
Australia |
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Date of Incorporation : |
29.03.1993 |
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Com. Reg. No.: |
059529887 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Manufacturing and
distribution of window shutter and accessories. |
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No. of Employees : |
80 employees (Australia
operations) |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 220,000 |
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Status : |
Moderate |
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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 : CROCI AUSTRALIA PTY LTD
Business address : 88 Derby Street
Town : Pascoe Vale
Province : Victoria
Zip/postal code : 3044
Country : Australia
Tel : +61 3 93544777
Fax : +61 3 93541944
Email : geoff@croci.com.au
Website : www.croci.com
/ www.eurotecwindowshutters.com.au
Registered address : C/o STEVEN VINCINI & CO
80 Sydney
Road
Town : Coburg
Province : Victoria
Zip/postal code : 3058
Country : Australia
Executive Summary
Date founded or registered : 29/03/1993
Legal form : Australian
Proprietary Company
Chief executive : Benedetto Geoffrey
Tarquini
Issued & paid up capital
: AUD 100
Line of business : Manufacturing and
distribution of window shutter and accessories.
Staff employed : 80 employees (Australia
operations)
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
Credit amount suggestion : USD 220,000
Credit amount asked : USD 300,000
Registry Data
Registration date : 29/03/1993
Legal form : Australian Proprietary Company
Registration no Australian Company Number:
059529887
Registered authority : Australian Securities and Investments
Commission
Fiscal/ Tax no : Australian Business Number:
61059529887
Registry status : Live/Active
Previous name : AUSTRALIAN PROFILE INDUSTRIES PTY.
LTD. (initial)
Change of legal form : None reported.
Key Management
Name : Benedetto Geoffrey
Tarquini
Designation : Managing Director
Appointments
Name : Benedetto Geoffrey
Tarquini
Designation Director and Company Secretary
Appointment date : 29/03/93
Address : 27 Sylvan Grove
Pascoe
Vale, VIC 3044
Australia
Biography : Born on 01-09-1960 in
Melbourne, Victoria, Australia.
Name : Cesare Croci
Designation : Director
Appointment date : 31/03/10
Address : Italy
Biography : Born on 17-12-1969 in Forli,
Italy.
Staff employed : 80 employees (Australia operations)
Key Advisors
Auditors : AGOSTINELLI PERLEN
Level 2,
200 Lygon Street
Carlton,
VIC 3053
Australia
Composition
Authorized
Capital : AUD 100
No of shares : 100 Ordinary Shares
Share par value : AUD 1
Issued capital : AUD 100
Paid up capital : AUD
100
How listed : Full List
Composition
Shareholder name : CROCI INTERNATIONAL S.A.
Address : 3, rue des Bains
L-1212
Luxembourg
Luxembourg
No. of shares : 50 Ordinary Shares
% of shares : 50%
Shareholder name : BENMEL PTY. LTD.
Address : 88 Derby Street
Pascoe
Vale, VIC 3044
Australia
No. of shares : 50 Ordinary Shares
% of shares : 50%
Structure
Name : CROCI INTERNATIONAL S A
Affiliation type : Shareholder
Address : 3, rue des Bains
L-1212
Luxembourg
Luxembourg
Name : BENMEL PTY. LTD.
Affiliation type : Shareholder
Address : 88 Derby Street
Pascoe
Vale, VIC 3044
Australia
Comments : Manufacture of domestic and commercial
roller shutters, security window roller shutters, extruded
aluminium
roller shutters, shop front security roller shutters, grilles and security
doors, security roller grilles including see through polycarbonate roller
shutters, expanding steel security trellis doors, mobile steel trellis doors,
retractable folding arm awnings and removable steel security bars.
Name : CROCI S.P.A.
Affiliation type : Associate
Address : Via Emilia 732
47032
Bertinoro (FC)
Italy
Bank Details
Name of bank : Australia
and New Zealand Banking Group 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 : 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 $12.5
million, and
-The company and any entities
it controls have fewer than 50 employees at the end of the financial year.
Main activities : The Subject engages in
manufacturing and distribution of window shutter and
accessories.
Product & services :
· Profiles
· Aluminium box pelmet
· Motors
· Aluminium extrusions
· Full range of roller shutter components
Purchases
International : Italy, China, Germany
Sales
Local : Yes
International : New Zealand, Vanuatu, Singapore
Property &
Assets
Premises : The Subject operates from premises
located at the verified heading address consisting of an
production facilities, warehouse and administrative office.
Branches : In addition, the Subject operates from
warehouse located in Western
Australia and South Australia.
Central bank : Reserve Bank of Australia
Reserve of foreign exchange & gold : US$ 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, Telegraphic transfer, D/P,
Credit 30-90 days
Sales Term
Local : Prepayment, Bank transfer, D/P, Credit 30-90 days
International : Prepayment, Telegraphic transfer, D/P,
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.55.52 |
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UK Pound |
1 |
Rs.88.49 |
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Euro |
1 |
Rs.70.20 |
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.