MIRA INFORM REPORT
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Report Date : |
15.09.2012 |
IDENTIFICATION DETAILS
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Name : |
MECO AUSTRALIA PTY. LIMITED |
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Registered Office : |
C/O Bdj Partners,
Level 13, |
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Country : |
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Date of Incorporation : |
28.07.1994 |
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Com. Reg. No.: |
065846915 |
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Legal Form : |
Australian Proprietary
Company |
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Line of Business : |
Import and distribution of
bathroom products |
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No. of Employees : |
20 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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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'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 : MECO AUSTRALIA PTY. LIMITED
Business address : 30 Stennett Road
Town : Ingleburn
Province : New South Wales
Zip/postal code : 2565
Country : Australia
Tel : +61 2 96186999
Fax : +61 2 96186444
Email : sales@meco.com.au
Website : www.meco.com.au
Registered address : C/o BDJ PARTNERS
Level 13, 122 Arthur Street
Town : North Sydney
Province : New South Wales
Zip/postal code : 2060
Country : Australia
Postal address : P.O. Box 923
Town : Ingleburn
Province : New South Wales
Zip/postal code : 2565
Country : Australia
Executive Summary
Date founded or registered : 28/07/1994
Legal form : Australian
Proprietary Company
Chief executive : Nicholas Dimitri Kroopin
Issued & paid up capital
: AUD 1,000
Sales turnover : AUD
6,000,000 (Estimated non-consolidated 12 months, 30/06/2011)
Line of business : Import and distribution of
bathroom products.
Staff employed : 20
employees
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 fair
Organization structure : Organizational structure is stable
Detrimental : No detrimental records found
Payment history : No payment delays noted
Registry Data
Registration date : 28/07/1994
Legal form : Australian Proprietary Company
Registration no Australian Company Number:
065846915
Registered authority : Australian Securities and Investments
Commission
Fiscal/ Tax no : Australian Business Number:
38065846915
Registry status : Live/Active
Previous name : None reported.
Change of legal form : None reported.
Key Management
Name : Nicholas Dimitri Kroopin
Designation : Managing Director
Appointments
Name : Nicholas Dimitri
Kroopin
Designation : Director and Company Secretary
Appointment date : 28/07/94
Address : 1 Werrington Street
Burradoo,
NSW 2576
Australia
Biography : Born on 09-09-1959 in
Canberra, Australian Capital Territory, Australia.
Name : Alan David Millward
Designation : Company Secretary
Appointment date : 21/05/12
Address : 83-85 Old Wingello Road
Bundanoon, NSW 2578, Australia
Biography : Born on 01-06-1942 in Sydney,
New South Wales, Australia.
Staff employed : 20 employees
Composition
Authorized Capital : AUD 1,000
No of shares : 1,000 Ordinary Shares
Share par value : AUD 1
Issued capital : AUD 1,000
Paid up capital AUD
1,000
How listed : Full List
Composition
Shareholder name : Nicholas Dimitri Kroopin
Address : 1 Werrington Street
Burradoo,
NSW 2576
Australia
No. of shares : 1,000 Ordinary Shares
% of shares : 100%
Structure
Related companies and
corporate affiliations comments : None reported.
Bank Details
Name of bank : Westpac Banking Corporation
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 0.95 as of
13-09-2012
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 : 6,000,000
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 $12.5
million, and
-The company and any entities it controls have fewer than 50
employees at the end of the financial year.
Main activities : The Subject engages in import and
distribution of bathroom products.
Product & services :
· Toilet suites
· Tapware: Bath and shower tapware
· Basins
· Bathtubs
· Bathroom accessories
Purchases
International : Europe, Asia
Sales
Local : Yes
International : No exports.
Property &
Assets
Premises : The Subject operates from premises
located at the verified heading
address consisting of administrative office and warehouse.
Branches : None reported.
Central bank : Reserve Bank of Australia
Reserve of foreign exchange & gold : US$ 43.879 billion
Gross domestic product – GDP : US$ 1.448 trillion
GPP (Purchasing power parity) : 918.529 billion of International dollars
GDP per capita - current prices : US$ 64,351
GDP - composition by sector : agriculture: 4.1% industry: 26% services: 70%
Inflation : 2008: 4.4%
2009: 1.8%
2010: 2.8%
2011: 3.0%
Unemployment rate 2008: 4.2 %
2009: 5.6 %
2010:5.2 %
2011: 5.0%
Public debt
(General Government gross
debt as a % GDP) 2008: 11.6%
2009: 17.6%
2010: 22.3 %
2011: 24.1%
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 :
Westpac Banking Group (Major Banks),
BHP Billiton (Diversified Metals & Mining), Commonwealth Bank (Major
Banks), National Australia Bank (Major Banks), ANZ Banking (Major Banks),
Telstra (Telecommunications services), Wesfarmers (Food Retail)
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$46,722 million
2009: US$22,572 million
2010: US$32,472 million
FDI Outflows 2008: US$32,819 million
2009: US$18,426 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
: 76.00%
Purchase Term
International : Prepayment, Telegraphic transfer,
Credit 30-90 days
Sales Term
Local : Prepayment, Bank
transfer, Cash, 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.54.73 |
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UK Pound |
1 |
Rs.88.61 |
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Euro |
1 |
Rs.71.34 |
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.