MIRA INFORM REPORT
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Report Date : |
24.04.2013 |
IDENTIFICATION DETAILS
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Name : |
ASR INVESTMENTS (AUSTRALIA) PTY LTD |
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Registered Office : |
C/o B M & Y, 230 Rokeby Road, Subiaco, Western Australia, Zip/postal code 6008 |
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Country : |
Australia |
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Date of Incorporation : |
19.01.2011 |
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Com. Reg. No.: |
148871596 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Import and retail sales of
floor tiles, wall tiles, bathroom tiles, and outdoor tiles |
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No. of Employees : |
03 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 : |
Slow but Correct |
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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
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 about 70% of GDP and 75% of 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.
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Source : CIA |
Verified Address
Subject name : ASR INVESTMENTS (AUSTRALIA) PTY LTD
Other style / Business name :
HOUSE OF CERAMICS
Business address : 267 Scarborough Beach Road
Town : Mount
Hawthorn
Province : Western
Australia
Zip/postal code : 6016
Country : Australia
Tel : +61 8 94433111
Fax : +61 8 94433053
Email : admin@houseofceramics.com.au
Website : www.houseofceramics.com.au
Registered address : C/o B M & Y
230 Rokeby Road
Town : Subiaco
Province : Western
Australia
Zip/postal code : 6008
Country : Australia
Executive Summary
Date founded or registered : 19/01/2011
Legal form : Australian
Proprietary Company
Chief executive : Anil Rajinder Nath Mehta
Issued & paid up capital
: AUD 2
Sales turnover : AUD 1,000,000 (Estimated
Non-consolidated 12 months, 30/06/2012)
Line of business : Import and retail sales of
floor tiles, wall tiles, bathroom tiles, and outdoor tiles.
Staff employed : 3
employees
Company Analysis
Country risk : Country risk is
minimal
Operation trend : Operational trend is in
start-up phase
Management experience : Management is modestly experienced
Financial performance : Financial performance is fair
Organization structure : Organizational structure is
acceptable
Detrimental : No detrimental found
Payment history : No payment delays noted
Registry Data
Registration date : 19/01/2011
Legal form : Australian
Proprietary Company
Registration no Australian Company
Number: 148871596
Registered authority : Australian Securities and
Investments Commission
Registry status : Live/Active
Previous name : None reported.
Change of legal form : None reported.
Other registration : HOUSE OF CERAMICS is a
business name owned by the Subject registered on
09/08/2004 under business registration no: BN10067875.
Key Management
Name : Anil Rajinder Nath Mehta
Designation : Managing Director
Appointments
Name : Anil Rajinder Nath
Mehta
Designation : Director
Appointment date : 19/01/11
Address : 14 Tulum Approach
Iluka, WA
6028
Australia
Biography : Born on 30-12-1964 in India.
Name : Anupama
Mehta
Designation : Director
Appointment date : 19/01/11
Address : 14 Tulum Approach
Iluka, WA
6028
Australia
Biography : Born on 17-09-1969 in India.
Staff employed : 3 employees
Composition
Authorized Capital : AUD 2
No of shares : 2 Ordinary Shares
Share par value : AUD 1
Issued capital : AUD 2
Paid up capital : AUD
2
How listed : Full List
Composition
Shareholder name : Anil Rajinder Nath Mehta
Address : 14 Tulum Approach
Iluka, WA
6028
Australia
No. of shares : 1 Ordinary Share
% of shares : 50%
Shareholder name : Anupama Mehta
Address : 14 Tulum Approach
Iluka, WA
6028
Australia
No. of shares : 1 Ordinary Share
% of shares : 50%
Structure
Related companies and
corporate affiliations comments :
None reported.
Bank Details
Name of bank : Bankwest
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
0.98 as of 23-04-2013
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 : 1,000,000
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 $12.5 million, and
-The
company and any entities it controls have fewer than 50 employees at the
end of the
financial year.
Main activities : The Subject engages in
import and retail sales of floor tiles, wall tiles,
bathroom tiles, and outdoor tiles.
Product & services :
· Porcelain Tiles
Polished
Porcelain Tiles
Glazed
Porcelain Tiles
Travertine
Tiles
Ceramic
Tiles
Natural
Stone
Mosaic
Tiles
Outdoor
Tiles
Purchases
International : Mainly from India, China
Sales
Local : Yes
International : No exports.
Property &
Assets
Premises : The Subject operates from
premises at the verified heading address
consisting of a showroom and administrative office.
Branches : None reported.
Central bank : Reserve Bank of Australia
Reserve of foreign exchange & gold : US$ 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 : Cash, Credit card
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
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.54.30 |
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UK Pound |
1 |
Rs.82.88 |
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Euro |
1 |
Rs.70.80 |
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.