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Report Date : |
25.09.2012 |
IDENTIFICATION DETAILS
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Name : |
IMTRADE AUSTRALIA PTY LTD |
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Formerly Known As : |
AUSTRALIAN HOMES 4 SALE PTY LTD (initial) |
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Registered Office : |
Suite 22, 11 Preston Street Como Western Australia 6152 |
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Country : |
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Financials (as on) : |
30.06.2007 |
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Date of Incorporation : |
27.10.1999 |
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Com. Reg. No.: |
090151134 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Manufacturing, import and distribution of chemicals for the agricultural industry |
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No. of Employees : |
32 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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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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.
Source
: CIA
Verified Address
Subject name : IMTRADE AUSTRALIA PTY
LTD
Business address :
Suite 22, 11 Preston
Street
Town : Como
Province : Western
Australia
Zip/postal code : 6152
Country : Australia
Tel : +61 8
94190333
Fax : +61 8
94195426
Email : ross.rainbird@imtrade.com.au
Website : www.imtrade.com.au
Registered address
: Suite 22, 11 Preston
Street
Town : Como
Province : Western
Australia
Zip/postal code : 6152
Country : Australia
Postal address : P.O. Box 395
Town : Como
Province : Western
Australia
Zip/postal code : 6952
Country : Australia
Manufacturing
Facilities : 17 Ocean Street, Kwinana, Western
Australia 6167, Australia
Executive Summary
Date founded or
registered : 27/10/1999
Legal form : Australian
Proprietary Company
Chief executive : Ross Melville Rainbird
Issued & paid
up capital : AUD 10,299.10
Sales turnover : AUD 16,083,990
(Non-consolidated 12 months, 30/06/2007)
Net income : AUD 144,350
(Non-consolidated 12 months, 30/06/2007)
Total fixed assets
: AUD 14,336,302
(Non-consolidated 12 months, 30/06/2007)
Line of business :
Manufacturing, import
and distribution of chemicals for the agricultural industry.
Staff employed : 32 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
: 27/10/1999
Legal form : Australian Proprietary Company
Registration no Australian Company Number:
090151134
Registered
authority : Australian Securities and
Investments Commission
Fiscal/ Tax no : Australian Business
Number: 13090151134
Registry status : Live/Active
Previous name : IMTRADE AGROSCIENCES PTY LTD
HAMILTON CHEMICALS PTY LTD
AUSTRALIAN HOMES 4 SALE PTY LTD (initial)
Change of legal
form : None reported.
Key Management
Name : Ross Melville Rainbird
Designation : Managing
Director
Name : Jim Brussen
Designation : Sales
Manager
Name : Tremaine Lawless
Designation : Logistics
Manager
Appointments
Name : Ross Melville Rainbird
Designation : Director
and Company Secretary
Appointment date :
27/10/99
Address : 31 Fraser Road
Applecross, WA 6153
Australia
Biography : Born on 17-03-1954 in Albany, Western Australia,
Australia.
Name : Howard Richard Giles
Designation : Director
Appointment date :
30/11/05
Address : 35 Binalong Avenue
Allambie Heights, NSW 2100
Australia
Biography : Born on 26-01-1962 in London, United Kingdom.
Staff employed : 32
employees
Composition
Authorized Capital
: AUD 10,299.10
No of shares : 102,991 Ordinary Shares
Share par value : AUD 0.1
Issued capital : AUD 10,299.10
Paid up capital : AUD 10,299.10
How listed : Full
List
Composition
Shareholder name :
SWANCITY ENTERPRISES PTY LTD
Address : Suite 22, 11 Preston
Street
Como, WA 6152
Australia
No. of shares : 1,051 Ordinary Shares
Shareholder name :
Stirling Andrew Ross
Address : Unit 6, 30 Winchester Place
Ballajura, WA 6066
Australia
No. of shares : 100 Ordinary Shares
Shareholder name :
Carmela Danzi
Address : 245 Mary Street
Wanneroo, WA 6065
Australia
No. of shares : 100 Ordinary Shares
Shareholder name :
Jessie Eng-Li Ryan
Address : 76 Lockhart Street
Como, WA 6152
Australia
No. of shares : 100 Ordinary Shares
Shareholder name :
BECOT PTY. LTD.
Address : Suite 22, 11 Preston Street
Como, WA 6152
Australia
No. of shares : 96,385 Ordinary Shares
Shareholder name : HOWARD GILES INVESTMENTS PTY LIMITED
Address : 35 Binalong Avenue
Allambie Heights, NSW 2100
Australia
No. of shares : 5,255 Ordinary Shares
Structure
Name : BECOT PTY. LTD.
Affiliation type :
Parent Company
Address : Suite 22, 11 Preston Street
Como, WA 6152
Australia
Name : MT BARROW PTY LTD
Affiliation type :
Associate
Address : Suite 22, 11 Preston
Street
Como, WA 6152
Australia
Name : CHEMAG PTY LTD
Affiliation type :
Associate
Address : Suite 22, 11 Preston Street
Como, WA 6152
Australia
Name : CHEMFARM PTY LTD
Affiliation type :
Associate
Address : Suite 22, 11 Preston Street
Como, WA 6152
Australia
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 : Commercial
Registry Filings
Financial
statement date : 30/06/07
Type of accounts :
Full
audited
Currency : Australia
Dollar (AUD)
Exchange rate : 1 USD = AUD
0.96 as of 20-09-2012
Summarized Financial Information
Consolidation type
: Non
Consolidated Non
Consolidated
Currency : Australia
Dollar (AUD) Australia
Dollar (AUD)
Denomination : (x1) One (x1) One
Date of financial
year end : 30/06/07 30/06/06
Length of accounts
: 12 months 12 months
Sale turnover /
Income : 16,083,990
20,822,765
Profit before tax
: 154,105
45,886
Net income : 144,350 45,886
Non current assets
: 1,314,134 1,254,312
Current assets : 13,022,168 9,672,378
Inventories : 6,601,981
4,448,948
Total assets : 14,336,302
10,926,690
Current
liabilities :
5,920,909 5,684,364
Non current
liabilities : 6,468,579
5,066,103
Total liabilities
: 12,389,488 10,750,467
Share equity : 1,946,814 176,223
Retained earning :
-81,594 -225,945
Comments : The
Subject's latest financial information is not available with the Australian
Securities and
Investments Commission.
Main activities :
The Subject engages in manufacturing, import and distribution of chemicals
for the
agricultural industry.
Product &
services : Herbicides
Insecticides
Fungicides
Growth Regulators
Soil Fumigants
Vertebrate Poison
Purchases
International :
China, India
Sales
Local : Yes
International :
New Zealand, Papua New Guinea
Property & Assets
Premises : The Subject
operates from premises located at the verified heading
address consisting
of an administrative office.
Branches : In
addition, the Subject operates from production facilities located at:
17 Ocean Street
Kwinana, WA 6167
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$ 1.586
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 : 2009: 16.9%
2010: 20.4%
2011: 22.9%
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 : 2008: 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, 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
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.53.29 |
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1 |
Rs.86.43 |
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Euro |
1 |
Rs.68.95 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
|
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.