MIRA INFORM REPORT
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Report Date : |
22.09.2012 |
IDENTIFICATION DETAILS
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Name : |
J.G. BAYLISS & SON (AUST.) PTY. LTD. |
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Formerly Known As : |
PARADOR PTY. LTD. |
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Registered Office : |
C/O Gmk
Partners Pty Ltd, Level 27, |
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Country : |
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Date of Incorporation : |
20.11.1978 |
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Com. Reg. No.: |
005493774 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Import and
distribution of carpets & rugs |
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No. of Employees : |
25 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 - 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 :
J.G. BAYLISS
& SON (AUST.) PTY. LTD.
Other style /
Business name : BAYLISS
Business
address : 7-9 Marlo
Place
Town : Hallam
Province : Victoria
Zip/postal
code : 3803
Country : Australia
Tel : +61 3
97086664
Fax : +61 3
97086665
Email : enquiries@bayliss.net.au
Website : www.baylissrugs.com
Registered
address : C/o GMK PARTNERS
PTY LTD
Level 27, 150 Lonsdale Street
Town : Melbourne
Province : Victoria
Zip/postal
code : 3000
Country Australia
Executive Summary
Date founded
or registered : 20/11/1978
Legal form : Australian Proprietary
Company
Chief
executive : Daryl
Alan Bayliss
Issued &
paid up capital : AUD 12
Sales turnover
: AUD 8,000,000
(Estimated Non-consolidated 12 months, 30/06/2012)
Line of
business : Import and
distribution of carpets & rugs.
Staff employed
: 25 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 found
Payment
history : No payment
delays noted
Registry Data
Registration
date : 20/11/1978
Legal form : Australian Proprietary Company
Registration
no Australian Company Number:
005493774
Registered
authority : Australian Securities &
Investments Commission
Fiscal/ Tax no
: Australian
Business Number: 97289500719
Registry
status : Live/Active
Previous name
: PARADOR PTY. LTD. (initial)
Change of
legal form : None reported.
Other
registration : BAYLISS is a
business name owned by the Subject registered on 08/05/2002
under business registration no: VIC B1629447S.
Key Management
Name : Daryl Alan Bayliss
Designation : Managing
Director
Name : Jeffrey Paul Bayliss
Designation : Director
Name : David Gordon Bayliss
Designation : Director
Appointments
Name : Daryl Alan Bayliss
Designation : Director
Appointment
date : 26/06/00
Address : 111 Rowell Avenue
Camberwell, VIC 3124
Australia
Biography : Born on 10-11-1971 in
Melbourne, Victoria, Australia.
Name : Jeffrey Paul Bayliss
Designation : Director
Appointment
date : 26/06/00
Address : 12 Caithness Crescent
Glen Waverley, VIC 3150
Australia
Biography : Born on 02-04-1969 in Mount
Waverley, Victoria Australia.
Name : David Gordon Bayliss
Designation : Director and Company Secretary
Appointment
date : 26/06/00
Address : 17 Cawkwell Street
Malvern, VIC 3144
Australia
Biography : Born on 21-12-1967 in Malvern,
Victoria, Australia.
Staff employed : 25 employees
Composition
Authorized
Capital : AUD 12
No of shares :
12 Ordinary Shares
Share par
value : AUD 1
Issued capital
: AUD 12
Paid up capital : AUD
12
How listed : Full List
Composition
Shareholder
name : Margaret Anne Bayliss
Address : 11 Alvie Road
Mount Waverley, VIC 3149
Australia
No. of shares
: 6 Ordinary shares
% of shares : 50%
Shareholder
name : Gordon Alan Walker Bayliss
Address : 11 Alvie Road
Mount Waverley, VIC 3149
Australia
No. of shares
: 6 Ordinary shares
% of shares : 50%
Structure
Name : BAYLISS AGENCIES PTY LTD
Affiliation
type : Associate
Address 7-9 Marlo Place
Hallam, VIC 3803
Australia
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
Source of
financial statement : External Sources
Financial
statement date : 30/06/12
Type of
accounts : Estimated
key figures
Currency : Australia Dollar
(AUD)
Exchange rate
: 1 USD = AUD 0.96
as of 19-09-2012
Summarized Financial
Information
Consolidation
type : Non Consolidated
Currency : Australia Dollar
(AUD)
Denomination :
(x1) One
Date of
financial year end : 30/06/12
Length of
accounts : 12 months
Sale turnover
/ Income : 8,000,000
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 $12.5 million, and
-The company and any
entities it controls have fewer than 50 employees at the end of the financial
year
Main
activities : The
Subject is engaged in import and distribution of floor covering such as carpets
&
rugs.
Product & services :
Floor rugs
& mats handknotted
Indian wool
rugs
Machine made
wool & synthetic rugs
Synthetic
mattings
Purchases
International
: India
Sales
Local : Yes
International
: New Zealand, Singapore, Malaysia,
Canada, Poland, Taiwan, Saudi
Arabia, Spain, Belgium, Bahrain, Vietnam, Japan
Property &
Assets
Premises : The Subject operates from
premises located at the verified heading
address consisting of administrative office and warehouse.
Branches : In addition, the Subject
operates from showroom located at:
467 Church Street
Richmond, VIC 3121
Australia
Tel: +61 3 94299599
138 Arthur Street
Fortitude Valley, QLD 4006
Australia
Tel: +61 7 33584335
Central bank : Reserve Bank of Australia
Reserve of foreign exchange & gold : US$ 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 2009: 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
: Prepayment, Credit 30-60
days
Sales Term
Local : Prepayment, Cash,
Credit 30-60 days
International
: L/C, Prepayment, 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.53.91 |
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UK Pound |
1 |
Rs.87.60 |
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Euro |
1 |
Rs.70.01 |
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.