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Report Date : |
24.09.2012 |
IDENTIFICATION DETAILS
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Name : |
MYER PTY LTD |
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Registered Office : |
800 Collins Street Docklands Victoria 3008 |
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Country : |
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Date of Incorporation : |
09.02.1928 |
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Com. Reg. No.: |
004143239 |
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Legal Form : |
Department store chain, retailing a broad range of merchandise including women's, men's and children's clothing, footwear and accessories; cosmetics and fragrance; homewares; electrical; furniture and bedding; toys; books and stationery; food and confectionery; and travel goods. |
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line of business
: |
Australian Proprietary Company |
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No. of Employees : |
13,000 employees (Myer Group) |
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
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
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.
|
Source
: CIA |
Verified Address
Subject name : MYER PTY LTD
Business address : 800 Collins Street
Town : Docklands
Province : Victoria
Zip/postal code : 3008
Country : Australia
Tel : +61 3 86676000
Fax : +61 3 96613770
Website : www.myer.com.au
Registered address : 800 Collins Street
Town : Docklands
Province : Victoria
Zip/postal code : 3008
Country : Australia
Postal address : P.O. Box 869J
Town : Melbourne
Province : Victoria
Zip/postal code : 3001
Country : Australia
Executive Summary
Date founded or registered :
09/02/1928
Legal form :
Australian Proprietary Company
Chief executive :
Bernard Joseph Brookes
Issued & paid up capital :
AUD 841,532,130
Sales turnover :
AUD 3,119,119,000 (Group-consolidated 12 months, 28/07/2012)
Net income :
AUD 141,067,000 (Group-consolidated 12 months, 28/07/2012)
Total fixed assets :
AUD 1,918,193,000 (Group-consolidated 12 months, 28/07/2012)
Line of business :
Department store chain, retailing a broad range of merchandise including
women's, men's and children's clothing,
footwear and accessories; cosmetics and fragrance; homewares; electrical;
furniture and bedding; toys; books and stationery; food and confectionery; and
travel goods.
Staff employed : 13,000 employees (Myer Group)
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 very good
Organization structure :
Organizational structure is consistent
Detrimental : No detrimental found
Payment history :
No payment delays noted
Credit amount suggestion : USD 4,000,000
Credit amount asked : Not described.
Comments :
Larger credit can still be considered. The Subject is well positioned in the
market and the financial stability of the group is positive.
Registry Data
Registration date :
09/02/1928
Legal form :
Australian Proprietary Company
Registration no Australian Company Number : 004143239
Registered authority :
Australian Securities and Investments Commission
Fiscal/ Tax no :
Australian Business Number: 83004143239
Registry status :
Live/Active
Previous name :
MYER LIMITED
MYER
STORES LIMITED
MYER SOUTHERN STORES LIMITED
MYER (BALLARAT)
LIMITED
THE
MYER EMPORIUM (BALLARAT) LIMITED
THE
MYER EMPORIUM (BALLARAT) PROPRIETARY
LIMITED
PATERSON POWELL PROPRIETARY LIMITED
PATERSON POWELL & SANDFORD PROPRIETARY
LIMITED (initial)
Change of legal form :
None reported.
Key Management
Name :
Bernard Joseph Brookes
Designation :
Managing Director
Name :
Mark Stephen Ashby
Designation :
Chief Financial Officer
Name :
Gregory James Travers
Designation :
Executive General Manager Business Services
Name :
Nick Abboud
Designation :
Executive General Manager Stores
Name :
Marion Joan Rodwell
Designation : General Counsel and Company Secretary
Appointments
Name :
Bernard Joseph Brookes
Designation :
Director
Appointment date :
02/06/06
Address :
14 Haven Place
Dural, NSW 2158
Australia
Biography : Born on 08-11-1959 in
Birmingham, United Kingdom.
Mr. Bernie Brookes is the Chief Executive Officer, Managing Director
and Executive Director of Myer Holdings Ltd. He was appointed Managing Director
and CEO of the Company on 2 June 2006. In his role, he has been responsible for
the transition of the Company following the separation from the Coles Group and
for rebuilding the Myer business under new ownership. His Woolworths experience
also included a variety of general management positions in three states across
the Buying, IT, Marketing and Operations departments. He has also held various
roles as president and executive of various industry organisations including
Retail Traders Association in Queensland and Victoria and President of the
Queensland Grocery Association, and he has assisted on various charitable and
government ventures and committees. He has received multiple
awards, including Food Week Retail Executive of the Year, National Retail Association Food Industry Executive of the Year and Food Week Buyer of the Year for four years during the 1980s and 1990s. He is currently patron of the Australian Joe Berry Memorial Award and the Australian representative judge of the World Retail Awards. He holds Bachelor of Arts and Diploma of Education degrees from Macquarie University, Australia. He is a Member of the Advisory Board of First Unity Financial Group. He is also a director of the Advisory Board of the Salvation Army.
Name : Mark Stephen Ashby
Designation : Director
Appointment date : 30/06/11
Address : 1 Lakewood Court
MacLeod,
VIC 3085
Australia
Biography :
Born on 15-03-1960 in Melbourne, Victoria, Australia.
Mr. Ashby Mark has been Chief Financial Officer
of Myer Holdings Ltd since January 2008. In his role, he manages the financial
structure of Myer, including all the accounting aspects of the organisation as
well as statutory reporting. In addition, his responsibilities cover treasury
management, compliance, internal audit and the Financial Services division of
the business. He has held CFO positions since 1990 for both local and
international companies in retail, wholesale, technology and franchise industries.
Prior to joining Myer, he spent four years as the CFO of Mitre 10 Australia,
was the Finance Director of Motorola and worked as a Finance Director/CFO in
fashion retail and technology organisations. He is a member of the Australian
Institute of Company Directors.
Name : Gregory James
Travers
Designation : Director
Appointment date : 30/06/11
Address : 24 Scott Grove
Glen
Iris, VIC 3146
Australia
Biography : Born
on 24-07-1958 in Adelaide, South Australia, Australia.
Mr. Greg Travers has been Executive General
Manager – Business Services since November 2010, after being Director –
Strategic Planning and Human Resources of Myer Holdings Ltd since June 2006. In
his role, he oversees all aspects of Myer’s human resources including
organisational development, recruitment and training, employee relations, as
well as risk, safety and sustainability, corporate affairs, Myer’s program
office, various other service functions and the development of Myer‘s strategic
planning
framework. He has over 30 years of industry
experience including with WMC Resources Ltd, Pratt Group and BHP.
Name : Marion Joan Rodwell
Designation : Company Secretary
Appointment date : 02/04/08
Address : 168 Napier Street
South Melbourne, VIC 3205
Australia
Biography : Born on 28-01-1963 in Melbourne, Victoria, Australia.
Ms. Marion Rodwell has been Group General Counsel and Company Secretary of Myer Holdings Ltd since March 31, 2008. She manages the legal function of the Company, incorporating the provision of legal advice to the Company and the management of the legal group. In addition, she is Company Secretary of all companies in the Myer Group. She has corporate, commercial and governance experience, having held General Counsel and Company Secretary roles in the financial services, gaming and retail industries over many years. Previously, she held the role of General Counsel and Company Secretary of Tattersall’s and, prior to that, she was General Counsel and Company Secretary of IOOF. She was involved in the initial public offering of Tattersall’s in 2005 and has negotiated various joint venture and supply arrangements within Australia and internationally. She is a member of the Law Institute of Victoria and the Australian Corporate Lawyers Association. In 2010, she was awarded ACLA Australian Corporate Lawyer of the Year.
Staff employed : 13,000 employees (Myer Group)
Auditors : PRICEWATERHOUSECOOPERS
Level 19, Freshwater Place
2 Southbank Boulevard
Southbank, VIC 3006
Australia
Composition
Authorized Capital : AUD
841,532,130
No of shares :
26,465 Cumulative Non Participating Non Redeemable Preference Shares /
958,200 Ordinary Shares / 100 Redeemable A
Preference Shares / 8,410,000
Redeemable Preference Shares
Share par value : AUD 2
for Cumulative Non Participating Non Redeemable Preference Share /
AUD 0.5 for Ordinary Share / AUD 1 for
Redeemable A Preference Share / AUD
100 for Redeemable Preference Share
Issued capital : AUD
841,532,130
Paid up capital : AUD
841,532,130
How listed :
Full List
Composition
Shareholder name : MYER
GROUP PTY LTD
Address :
800 Collins Street
Docklands, VIC 3008
Australia
No. of shares : 26,465
Cumulative Non Participating Non Redeemable Preference Shares /
958,200 Ordinary Shares / 100 Redeemable A
Preference Shares / 5,910,000
Redeemable Preference Shares
Shareholder name : THE MYER
EMPORIUM PTY LTD
Address :
800 Collins Street
Docklands, VIC 3008
Australia
No. of shares :
2,500,000 Redeemable Preference Shares
Structure
Name :
MYER HOLDINGS LIMITED
Affiliation type :
Ultimate Holding Company
Address :
800 Collins Street
Docklands, VIC
3008
Australia
Comments : Myer Holdings Limited
engages in the operation of department stores in Australia.
The company offers approximately 600,000 product lines across 11 product categories comprising 2,400 brands. Its product categories include womenswear, menswear, youth fashion, childrenswear, intimate apparel, homewares, electrical goods, toys, fashion accessories, and general merchandise, as well as beauty, fragrance, and cosmetics. The company also provides retail customer loyalty programs. It operates approximately 67 stores under the MYER brand name. Myer Holdings Limited was founded in 1900 and is based in Docklands, Australia.
Name : MYER GROUP PTY LTD
Affiliation type : Parent Company
Address : 800 Collins Street
Docklands, VIC 3008
Australia
Name : THE MYER EMPORIUM PTY LTD
Affiliation type : Minority Shareholder
Address : 800 Collins Street
Docklands, VIC 3008
Australia
Name : MYER GROUP FINANCE LIMITED
Affiliation type : Sister Company
Address : 800 Collins Street
Docklands, VIC 3008
Australia
Name : MYER SOURCING ASIA LTD
Affiliation type : Sister Company
Address : 13/F Gloucester Tower, The Landmark
15 Queen’s Road
Central
Hong Kong
Name : MYER TRAVEL PTY LTD
Affiliation type : Sister Company
Address : 800 Collins Street
Docklands, VIC 3008
Australia
Name : BOOGIE & BOOGIE PTY LTD
Affiliation type : Sister Company
Address : Studio 5, 32 Ralph Street
Alexandria, NSW 2015
Australia
Name : WAREHOUSE SOLUTIONS PTY LTD
Affiliation type : Sister Company
Address : 800 Collins Street
Docklands, VIC 3008
Australia
Name : NB COLLINS PTY LTD
Affiliation type : Sister Company
Address : 800 Collins Street
Docklands, VIC 3008
Australia
Name : NB RUSSELL PTY LTD
Affiliation type : Sister Company
Address : 800 Collins Street
Docklands, VIC 3008
Australia
Related companies and corporate affiliations comments : Other companies of the Myer Group should be considered affiliates of the Subject.
Bank Details
Name of bank :
National Australia Bank 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 :
Satisfied Charges:
ASIC Charge Number : 80367
Date Registered: 25-05-1984
Charge type: Floating
Date Created: 19-04-1984
Chargees Name: PERPETUAL TRUSTEES VICTORIA
LIMITED
ASIC Charge Number: 83604
Date Registered: 20-11-1967
Date Created: 08-11-1967
Chargees Name: PERPETUAL TRUSTEES VICTORIA
LIMITED
ASIC Charge Number: 1321498
Date Registered: 05-07-2006
Charge type: Both Fixed & Floating
Date Created: 03-07-2006
Chargees Name: NATIONAL AUSTRALIA BANK
LIMITED
ASIC Charge Number: 1321500
Date Registered: 05-07-2006
Charge type: Both Fixed & Floating
Date Created: 30-06-2006
Chargees Name: NATIONAL AUSTRALIA BANK
LIMITED
ASIC Charge Number: 1321502
Date Registered: 05-07-2006
Charge type: Both Fixed & Floating
Date Created: 30-06-2006
Chargees Name: NATIONAL AUSTRALIA BANK
LIMITED
Bankruptcy fillings : None reported.
Court judgements : None
reported.
Tax liens :
None reported
Others : None reported.
Description
Source of financial
statement : Public Record Sources
Financial statement
date : 28/07/12
Type of accounts : Full audited
Currency : Australia
Dollar (AUD)
Exchange rate : 1 USD = AUD 0.96 as
of 21-09-2012
Summarized Financial Information
Consolidation type : Group Consolidated Group Consolidated
Currency : Australia
Dollar (AUD) Australia Dollar (AUD)
Denomination : (x1) One (x1) One
Date of financial
year end : 28/07/12 30/07/11
Length of accounts : 12 months 12 months
Sale turnover /
Income : 3,119,119,000 3,158,774,000
Gross profit : 1,288,421,000 1,271,630,000
Profit before tax : 204,868,000 224,657,000
Net income : 141,067,000 159,665,000
Non current assets : 1,476,721,000 1,531,211,000
Current assets : 441,472,000 442,920,000
Inventories : 385,702,000 381,261,000
Total assets : 1,918,193,000 1,974,132,000
Current liabilities :
502,869,000 548,360,000
Non current
liabilities : 537,644,000 564,442,000
Total liabilities : 1,040,513,000 1,112,802,000
Share equity : 877,680,000 861,330,000
Retained earning : 363,357,000 349,396,000
Comments : The group’s
consolidated financial information above relates to the Subject’s
Ultimate Holding Company Myer Holdings
Limited and all its subsidiaries which
Include the Subject.
Main activities : The Subject is
engaged in operation of Myer department stores in Australia. It offers
womenswear, menswear, youth fashion, childrens wear, beauty, fragrance and
cosmetics, homewares, electrical goods, toys, fashion accessories and general
merchandise products.
The Subject has stores in Western Australia,
South Australia, Queensland, New South Wales, Australian Capital Territory,
Victoria, and Tasmania in Australia.
The Subject operates as a subsidiary of Myer
Group Pty. Ltd. and is ultimately owned by Myer Holdings Limited, a public
listed company on Australia Stock Exchange.
Myer is Australia’s largest department store
group and offers more than 600,000 product lines comprising 2,400 brands
sourced from over 800 suppliers globally. Myer Holdings Limited operates 67
stores across Australia with a turnover in excess of AUD 3 billion in 2011.
Product & services :
Womenswear
Menswear
Youth fashion
Childrens wear
Intimate apparel
Beauty, fragrance and cosmetics
Homewares
Electrical goods
Toys
Fashion accessories
General merchandise
Brand :
Myer
Purchases
International :
Worldwide
Sales
Local :
Yes
International :
No exports.
Key events :
Myer to Close Department Store in Tuggeranong in Canberra 16 December 2011 Myer announced that it will close
its department store in Tuggeranong in Canberra as the company's data suggests
residents are shopping at the Canberra
City store. Myer will not renew the lease at its Tuggeranong store, and it is
likely to close by May 2012. The company would redeploy all permanent employees
with new positions at the Canberra City and Belconnen stores.
FINANCIAL
National Australia Bank Limited Acquires Stake In Myer Holdings Limited
Monday, 12 Dec 2011
Myer Holdings Limited announced that National Australia Bank Limited and
its associated entities have acquired 30,005,960 ordinary shares in the
Company, which represents 5.143% of the voting power.
Myer Holdings Limited Announces Holding Interest Of Schroder Investment
Management Australia Limited
Monday, 26 Sep 2011
Myer Holdings Limited announced that Schroder Investment Management
Australia Limited has ceased to be substantial shareholder of the Company.
Earlier, Schroder Investment Management Australia Limited had 5.14% interest in
voting power of the Company.
Myer Holdings Limited Announces FY 2011 Final Dividend
Wednesday, 14 Sep 2011
Myer Holdings Limited announced a final dividend of AUD 0.115 per share
for the year ended June 30, 2011 (2010: AUD 0.115 per share). The record date
is September 30, 2011 and the dividend will be paid on November 16, 2011.
Myer Holdings Limited Announces Holding Interest Of Harris Associates
L.P.
Tuesday, 2 Aug 2011
Myer Holdings Limited announced that Harris Associates L.P. has an
interest of 29,585,800 ordinary shares, which represents 5.08% of voting power
in the Company.
Myer Holdings Limited Reconfirms FY 2011 NPAT Guidance
Wednesday, 13 Jul 2011 07:22pm EDT
Myer Holdings Limited announced that it expect net profit after tax (NPAT)
for fiscal 2011 to be up to 5% below last year's NPAT of AUD 169 million. Myer
Holdings Limited Announces Holding Interest Of The Capital Group Companies,
Inc.
Wednesday, 18 May 2011
Myer Holdings Limited announced that The Capital Group Companies, Inc.
has ceased to be substantial shareholder of the Company. Earlier, The Capital
Group Companies, Inc. had an interest of 5.26% of voting power in the Company.
Myer Holdings Limited Announces Voting Power Of BT Investment Management
Limited
Wednesday, 16 Feb 2011
Myer Holdings Limited announced that BT Investment Management Limited is
holding 30,002,877 ordinary shares, representing 5.15% of the voting power in
the Company.
Myer Holdings Limited To Acquire 65% Stake In Sass & Bide
Sunday, 6 Feb 2011
Myer Holdings Limited (Myer) announced that it will acquire a 65% stake in sass & bide (sass & bide), one of Australia's women's fashion brands, for AUD 42.25 million. Myer will have exclusive department store rights to distribute this designer brand, as well as benefiting from the expansion of both sass & bide's standalone store network, and its domestic and international wholesale businesses. It is planned that sass & bide will be
launched in approximately 30 Myer stores over the next 18 months. The transaction is expected to complete in April 2011, and is subject to customary transaction conditions being satisfied.
Myer Holdings Limited Issues H1 2011 NPAT Guidance; Lowers FY 2011
NPAT Guidance
Sunday, 6 Feb 2011
Myer Holdings Limited announced that in November 2010, Myer stated that net profit after tax (NPAT) for fiscal 2011 was anticipated to grow between five and 10% assuming no further deterioration of trading conditions. Its preliminary expectation for NPAT for the first half of 2011 is in the range of AUD 106 to AUD 109 million. Allowing for the continuation of the subdued consumer environment, the Company now expect the fiscal 2011 NPAT to be up to 5% less than last year compared with proforma NPAT of AUD 169 million in fiscal 2010.
Property & Assets
Premises : The Subject operates from head
office located at the verified heading address consisting of administrative
office.
Branches : In addition, the Subject operates from 67 department stores located at across Australia.
Gross Domestic
Products (GDP) & Economic Overview
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%
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 : 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 :
L/C, Prepayment, Telegraphic transfer, Credit up to 120 days
Sales Term
Local :
Cash, Credit card
Trade Reference/
Payment Behavior
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
Powered by
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.91 |
|
UK Pound |
1 |
Rs.87.60 |
|
Euro |
1 |
Rs.70.01 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
NB |
New Business |
---- |
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.