MIRA INFORM REPORT
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Report Date : |
03.04.2013 |
IDENTIFICATION DETAILS
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Name : |
NET SECURITY WHOLESALERS PTY LTD |
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Registered Office : |
246 Brighton Road, Somerton
Park, Australia, Zip/postal code 5044 |
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Country : |
Australia |
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Date of Incorporation : |
04.08.1998 |
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Com. Reg. No.: |
083730250 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Import and wholesale
distribution of electronic security products |
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No. of Employees : |
12 |
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 : |
Slow |
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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 (31.03.2012) |
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.
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Source : CIA |
Verified Address
Subject name : NET SECURITY
WHOLESALERS PTY LTD
Other style / Business name :
NETDIGITAL SURVEILLANCE
Business address : 4 Commercial Street
Town : Marleston
Province : South Australia
Zip/postal code : 5033
Country : Australia
Tel : +61 8 83714166
Fax : +61 8 83714566
Email : sales@netsecurity.com.au
Website : www.netsecurity.com.au
Registered address : 246 Brighton Road
Town : Somerton
Park
Province : South Australia
Zip/postal code : 5044
Country : Australia
Executive Summary
Date founded or registered : 04/08/1998
Legal form : Australian
Proprietary Company
Chief executive : Daniel Peter Willgoose
Issued & paid up capital
: AUD 50
Sales turnover : AUD 2,000,000 (Estimated
Non-Consolidated 12 months, 30/06/2012)
Line of business : Import and wholesale
distribution of electronic security products.
Staff employed : 12 employees
Company Analysis
Country risk : Country risk is
minimal
Operation trend : Operational trend is
steady
Management experience : Management is reasonably 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 : 04/08/1998
Legal form : Australian Proprietary Company
Registration no Australia Company Number: 083730250
Registered authority : Australian Securities and Investments
Commission
Fiscal/ Tax no : Australia Business Number:
94083730250
Registry status : Live/Active
Previous name : None reported.
Change of legal form : None reported.
Other registration : NETDIGITAL SURVEILLANCE is a business
name owned by the Subject registered on
2/05/2002 under business registration no: BN04064902.
Key Management
Name : Daniel Peter Willgoose
Designation : Managing Director
Appointments
Name : Daniel Peter Willgoose
Designation : Director
Appointment date : 04/08/98
Address : 4 Kiley Road
Aldgate,
SA 5154
Australia
Biography : Born on 06-03-1963 in Mount
Gambier, South Australia, Australia.
Name : Paul Jonathon Garnaut
Designation : Director and Company Secretary
Appointment date : 04/08/98
Address : 'Lot D', Darby Lane
Hahndorf,
SA 5245
Australia
Biography : Born on 29-05-1970 in
Adelaide, South Australia, Australia.
Staff employed : 12 employees
Composition
Authorized Capital : AUD 50
No of shares : 5,000 Ordinary Shares
Share par value : AUD 0.01
Issued capital : AUD 50
Paid up capital : AUD
50
How listed : Full List
Composition
Shareholder name : Daniel Peter Willgoose
Address : 4 Kiley Road
Aldgate,
SA 5154
Australia
No. of shares : 2,500 Ordinary Shares
% of shares : 50%
Shareholder name : Paul Jonathon Garnaut
Address : 'Lot D', Darby Lane
Hahndorf,
SA 5245
Australia
No. of shares : 2,500 Ordinary Shares
% of shares : 50%
Structure
Name : NET SECURITY INVESTMENTS PTY LTD
Affiliation type : Associate
Address :
4 Commercial Street
Marleston,
SA 5033
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
: Provided by the Subject
Financial statement date : 30/06/12
Type of accounts : Estimated key figures
Currency : Australia Dollar
(AUD)
Exchange rate : 1 USD = AUD 0.95 as of
02-04-2013
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 : 2,000,000
Comments : The estimated
turnover was provided by Ms. Lee Dickie.
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 $12.5 million, and
-The company and any entities
it controls have fewer than 50 employees at the end of the financial year.
Main activities : The Subject engages in import and
wholesale distribution of electronic security products.
Product & services : -
Intercom products
- Access control products:
Controllers, codepads & proximity readers,
electric strikes & locks,
FOBs & proximity cards and switches
- CCTV/IP video surveillance
products: Cameras, lenses, digital video
recorders, LCD/TFT monitors,
switchers & processors, camera brackets &
housings, LCD monitor
brackets and amplifiers & distributors
- Alarm Intrusion detection
systems: Alarm panels & kits, intrusion
detectors, fire detectors,
GSMs, GPRS and STUs, keypads, reed switches,
and sirens & strobes
- Others: Batteries, cable,
conduit & duct, enclosures, fixings, fasteners,
tapes, leads, plugs,
connectors, power supplies, UPS, RF equipment,
timers & relays and hand
tools
Purchases
International : Taiwan, South Korea, China
Sales
Local : Yes
International : No exports.
Property &
Assets
Premises : The Subject operates from premises at the
verified heading address
consisting of a warehouse and administrative office.
Branches : None reported.
Central bank : Reserve Bank of Australia
Reserve of foreign exchange & gold : US$ 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, 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.54.33 |
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UK Pound |
1 |
Rs.82.72 |
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Euro |
1 |
Rs.69.82 |
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.