MIRA INFORM REPORT
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Report Date : |
12.09.2012 |
IDENTIFICATION DETAILS
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Name : |
ANDATECH CORPORATION PTY LTD |
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Registered Office : |
C/O Walker & Co., Suite 8, 950 Main Road, Eltham, Victoria, Zip/Postal Code 3095 |
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Country : |
Australia |
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Date of Incorporation : |
15.02.2008 |
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Com. Reg. No.: |
129721320 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Import and distribution of safety,
lifestyle and wellness products |
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No. of Employees : |
11 employees |
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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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 : ANDATECH CORPORATION PTY LTD
Business address : Unit 7, 2-6 Apollo Court
Town : Blackburn
Province : Victoria
Zip/postal code : 3130
Country : Australia
Tel : +61 3 88770700
Fax : +61 3 98787162
Email : andatech@andatech.com.au
Website : www.andatech.com.au
Registered address : C/o WALKER & CO.
Suite 8, 950 Main Road
Town : Eltham
Province : Victoria
Zip/postal code : 3095
Country : Australia
Executive Summary
Date founded or registered : 15/02/2008
Legal form : Australian
Proprietary Company
Chief executive : Irwandy Tan
Issued & paid up capital
: AUD 100
Sales turnover : AUD 2,000,000 (Estimated
Non-consolidated 12 months, 30/06/2011)
Line of business : Import and distribution of
safety, lifestyle and wellness products.
Staff employed : 11 employees
Company Analysis
Country risk : Country risk is
minimal
Operation trend : Operational trend is
steady
Management experience : Management is modestly experienced
Financial performance : Financial performance is fair
Organization structure : Organizational structure is stable
Detrimental : No
detrimental records found
Payment history : No payment delays noted
Registry Data
Registration date : 15/02/2008
Legal form : Australian Proprietary Company
Registration no Australian Company Number:
129721320
Registered authority : Australian Securities and Investments
Commission
Fiscal/ Tax no : Australian Business Number:
91464733063
Registry status : Live/Active
Previous name : None reported.
Change of legal form : None reported.
Key Management
Name : Irwandy Tan
Designation : Managing Director
Name : I-Chih Hung
Designation : Financial Manager
Appointments
Name : Irwandy Tan
Designation : Director and Company Secretary
Appointment date : 15/02/08
Address : 51 McClares Road
Vermont,
VIC 3133
Australia
Biography : Born on 04-08-1975 in
Indonesia.
Staff employed : 11 employees
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 : Irwandy Tan
Address : 51 McClares Road
Vermont, VIC 3133
Australia
No. of shares : 100 Ordinary Shares
% of shares : 100%
Structure
Name : OZINNOVATIONS AUSTRALIA
PTY LTD
Affiliation type : Associate
Address : Unit 7, 2-6 Apollo Court
Blackburn,
VIC 3130
Australia
Bank Details
Name of bank : Commonwealth Bank of Australia
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 0.97 as of
10-09-2012
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 : 2,000,000
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 $12.5 million, and
-The company and any entities it controls
have fewer than 50 employees at the end of the financial year.
Main activities : The Subject engages in import and
distribution of safety, lifestyle and wellness products.
Product & services :
· Breathalyzers
· Juicers
· Dehumifidiers
· Humidifiers
· Air purifiers
· Drug Testing Kits
· Saliva Drug Test
· Ergoarm
· Oral Irrigator
· Lighting
· Solowheel
Brand : IWell, Gadgetco, Ionmax, Juicebuddy
and AlcoSense
Purchases
International : Vietnam, China, South Korea,
Hong Kong
Sales
Local : Yes
International : No exports.
Property &
Assets
Premises : The Subject operates from
premises located at the verified heading
address consisting of an administrative office and warehouse.
Branches : None reported.
Central bank : Reserve Bank of Australia
Reserve of foreign exchange & gold : US$ 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, Credit 30-60 days
Sales Term
Local : Prepayment, Bank
transfer, Credit 30-60 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.88.85 |
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Euro |
1 |
Rs.70.85 |
INFORMATION DETAILS
|
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.