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Report Date : |
18.04.2013 |
IDENTIFICATION DETAILS
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Name : |
ITALIA CERAMICS
PTY LTD |
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Formerly Known As : |
ITALIA CERAMIC SUPPLIES OF AUSTRALIA PTY. LTD. |
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Registered Office : |
55 Glynburn Road Glynde South Australia 5070 |
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Country : |
Australia |
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Date of Incorporation : |
05.07.1985 |
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Com. Reg. No.: |
008078340 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Import, wholesale and retail sales of ceramic, porcelain, mosaic, natural stone tiles. |
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No. of Employees : |
26 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
The Australian economy has experienced continuous growth and
features low unemployment, contained inflation, very low public debt, and a
strong and stable financial system. By 2012, Australia had experienced more
than 20 years of continued economic growth, averaging 3.5% a year. Demand for
resources and energy from Asia and especially China has grown rapidly, creating
a channel for resources investments and growth in commodity exports. The high
Australian dollar has hurt the manufacturing sector, while the services sector
is the largest part of the Australian economy, accounting for around three
quarters of GDP and four out of five jobs. Australia was comparatively
unaffected by the global financial crisis as the banking system has remained
strong and inflation is under control. Australia has benefited from a dramatic
surge in its terms of trade in recent years, stemming from rising global
commodity prices. Australia is a significant exporter of natural resources,
energy, and food. 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 is an open
market with minimal restrictions on imports of goods and services. The process
of opening up has increased productivity, stimulated growth, and made the
economy more flexible and dynamic. Australia plays an active role in the World
Trade Organization, APEC, the G20, and other trade forums. Australia has
bilateral free trade agreements (FTAs) with Chile, Malaysia, New Zealand,
Singapore, Thailand, and the US, has a regional FTA with ASEAN and New Zealand,
is negotiating agreements with China, India, Indonesia, Japan, and the Republic
of Korea, as well as with its Pacific neighbors and the Gulf Cooperation
Council countries, and is also working on the Trans-Pacific Partnership
Agreement with Brunei Darussalam, Canada, Chile, Malaysia, Mexico, New Zealand,
Peru, Singapore, the US, and Vietnam.
Source
: CIA
Verified Address
Subject name : ITALIA CERAMICS PTY LTD
Business address :
55 Glynburn Road
Town : Glynde
Province : South Australia
Zip/postal code : 5070
Country : Australia
Tel : +61 8 83362366
Fax : +61 8 83369016
Email : info@italiaceramics.com.au
Website : www.italiaceramics.com.au
Registered address
: 55 Glynburn Road
Town : Glynde
Province : South Australia
Zip/postal code : 5070
Country : Australia
Executive Summary
Date founded or
registered : 05/07/1985
Legal form : Australian
Proprietary Company
Chief executive : Vincenzo Anthony Vozzo
Issued & paid
up capital : AUD 10
Sales turnover : AUD 10,000,000 (Estimated
Non-consolidated 12 months, 30/06/2012)
Line of business :
Import, wholesale
and retail sales of ceramic, porcelain, mosaic, natural stone
tiles.
Staff employed : 26 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
: 05/07/1985
Legal form : Australian Proprietary Company
Registration no Australian Company Number:
008078340
Registered
authority : Australian Securities and
Investments Commission
Fiscal/ Tax no : Australian Business Number:
79728529796
Registry status : Live/Active
Previous name : The Subject was previously known as
ITALIA CERAMIC SUPPLIES OF
AUSTRALIA PTY. LTD. and changed to the current style on 28-12-1995.
Change of legal
form : None reported.
Key Management
Name : Vincenzo Anthony Vozzo
Designation : Managing Director
Name : Robert Giuseppe Vozzo
Designation : Marketing Manager
Appointments
Name : Pasquale Salvatore Antonio Vozzo
Designation : Director
Appointment date :
05/07/85
Address : 4 Trewren Avenue
Rostrevor, SA 5073
Australia
Biography : Born on 17-04-1938 in Roccella Ionica,
Italy.
Name : Vincenzo Anthony Vozzo
Designation : Director
Appointment date :
05/07/85
Address : 356 Montacute Road
Rostrevor, SA 5073
Australia
Biography : Born on 13-11-1961 in Adelaide, South
Australia, Australia.
Name : Rosa Maria Vozzo
Designation : Director and Company Secretary
Appointment date :
15/04/09
Address : 4 Trewren Avenue
Rostrevor, SA 5073
Australia
Biography : Born on 07-10-1942 in Adelaide, South
Australia, Australia.
Name : Robert Giuseppe Vozzo
Designation : Director and Company Secretary
Appointment date :
17/06/10
Address : 14 Swaine Avenue
Rose Park, SA 5067
Australia
Biography : Born on 06-05-1969 in Adelaide, South
Australia, Australia.
Staff employed :
26 employees
Composition
Authorized Capital
: AUD 10
No of shares : 10 Ordinary Shares
Share par value : AUD 1
Issued capital : AUD 10
Paid up capital : AUD 10
How listed : Full List
Composition
Shareholder name :
Rosa Maria Vozzo
Address : 4 Trewren Avenue
Rostrevor, SA 5073
Australia
No. of shares : 2 Ordinary Shares
% of shares : 20%
Shareholder name :
Pasquale Salvatore Antonio Vozzo
Address : 4 Trewren Avenue
Rostrevor, SA 5073
Australia
No. of shares : 8 Ordinary Shares
% of shares : 80%
Structure
Name : ITALIA CERAMICS SUPER PTY LTD
Affiliation type :
Associate
Address : 55 Glynburn Road
Glynde, SA 5070
Australia
Name : ITALIA CERAMIC SUPPLIES
(INTERNATIONAL) PTY. LTD.
Affiliation type :
Associate
Address : 55 Glynburn Road
Glynde, SA 5070
Australia
Name : ITALIA CERAMICS INTERNATIONAL SUPER
PTY LTD
Affiliation type :
Associate
Address : 55 Glynburn Road
Glynde, SA 5070
Australia
Name : P. & R. VOZZO NOMINEES PTY.
LTD.
Affiliation type :
Associate
Address : 4 Trewren Avenue
Rostrevor, SA 5073
Australia
Name : STONEWARE PRODUCTIONS PTY LTD
Affiliation type :
Associate
Address : 49-51 Barnett Avenue
Glynde, SA 5070
Australia
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 : 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 0.96 as of
15-04-2013
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 : 10,000,000
Comments : The estimated turnover was
provided by Mr. Bruno Mignone.
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 $12.5 million, and
-The company and any entities it controls have fewer than 50 employees
at the
end of the financial year.
Main activities : The Subject engages in import,
wholesale and retail sales of ceramic,
porcelain, mosaic, natural stone tiles.
Purchases
International : Malaysia,
China, India, Italy, Spain, Turkey
Sales
Local : Yes
International : No
exports.
Property & Assets
Premises : The
Subject operates from premises at the verified heading address
consisting of a
administrative office, warehouse and showroom.
Branches : None
reported.
Gross Domestic Products (GDP) & Economic
Overview
Central bank : Reserve
Bank of Australia
Reserve of foreign
exchange & gold : US$ 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 : 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 : 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, Credit 120 days after B/L
Sales Term
Local : Cash,
Prepayment, Credit 7 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.53.94 |
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1 |
Rs.82.76 |
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Euro |
1 |
Rs.71.04 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.