MIRA INFORM REPORT
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Report Date : |
25.04.2013 |
IDENTIFICATION DETAILS
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Name : |
SIGNORINO TILE GALLERY PTY. LTD |
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Registered Office : |
Level 18, 499 St Kilda Road,
Melbourne, Victoria, Zip/postal code 3004 |
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Country : |
Australia |
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Date of Incorporation : |
26.04.1996 |
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Com. Reg. No.: |
073770948 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Import, distribution and
retail sales of tiles and natural stone |
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No. of Employees : |
20 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 (31.03.2012) |
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 : SIGNORINO TILE GALLERY PTY. LTD.
Business address : 484 Church Street
Town : Richmond
Province : Victoria
Zip/postal code : 3121
Country : Australia
Tel : +61 3 94279100
Fax : +61 3 94297907
Email : info@signorino.com.au
Website : www.signorino.com.au
Registered address : Level 18, 499 St Kilda Road
Town : Melbourne
Province : Victoria
Zip/postal code : 3004
Country : Australia
Executive Summary
Date founded or registered : 26/04/1996
Legal form : Australian
Proprietary Company
Chief executive : Gianmichele Signorino
Issued & paid up capital
: AUD 2
Sales turnover : AUD 10,000,000 (Estimated
Non-consolidated 12 months, 30/06/2012)
Line of business : Import, distribution and
retail sales of tiles and natural stone.
Staff employed : 20 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 : 26/04/1996
Legal form : Australian
Proprietary Company
Registration no Australian Company
Number: 073770948
Registered authority : Australian Securities &
Investments Commission
Fiscal/ Tax no : Australian Business
Number: 75109955340
Registry status : Live/Active
Previous name : None reported.
Change of legal form : None reported
Key Management
Name : Gianmichele Signorino
Designation : Managing Director
Name : Franca Signorino
Designation : General Manager
Appointments
Name : Gianmichele Signorino
Designation : Director and Company Secretary
Appointment date : 26/04/96
Address : Unit 406, 150 Clarendon
Street
East
Melbourne, VIC 3002
Australia
Biography : Born on 18/02/1952 in Erba,
Italy.
Staff employed : 20 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 : Gianmichele Signorino
Address : Unit 406, 150 Clarendon
Street
East
Melbourne, VIC 3002
Australia
No. of shares : 2 Ordinary Shares
% of shares : 100%
Structure
Name : SIGNORINO CERAMICS
(BRUNSWICK) PTY. LTD.
Affiliation type : Associate
Address : 484 Church Street
Richmond,
VIC 3121
Australia
Name : SIGNORINO & SON
PTY. LIMITED
Affiliation type : Associate
Address : 484 Church Street
Richmond,
VIC 3121
Australia
Name : SIGNORINO CONTRACTING
PTY. LTD.
Affiliation type : Associate
Address : 484 Church Street
Richmond,
VIC 3121
Australia
Name : SIGNORINO & SON
CUSTODIAN PTY. LTD.
Affiliation type : Associate
Address : 484 Church Street
Richmond,
VIC 3121
Australia
Name : CERAMIC TILE
DISTRIBUTORS PTY. LTD.
Affiliation type Associate
Address : 484 Church Street
Richmond,
VIC 3121
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 : Unsatisfied Charges:
ASIC Charge Number: 627082
Date Registered: 14-01-1998
Charge type: Both Fixed &
Floating
Date Created: 22-12-1997
Chargees Name: AUSTRALIA AND
NEW ZEALAND BANKING GROUP LIMITED
ASIC Charge Number: 2198972
Date Registered: 06-07-2011
Charge type: Fixed
Date Created: 30-06-2011
Chargees Name: TOYOTA FINANCE
AUSTRALIA LTD
Legal fillings
Bankruptcy fillings : None reported.
Court judgements None reported.
Tax liens : None reported.
Others : None reported.
FINANCIAL DATA
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 0.98 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 : 10,000,000
Comments : The estimated turnover was
provided by Mr. Yen Lim.
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 $12.5 million, and
-The company and any entities
it controls have fewer than 50 employees at the end of the financial year.
Main activities : The Subject engages in import,
distribution and retail sales of tiles and natural stones.
Brand : SIGNORINO
Purchases
International : Italy, China, Spain,
Vietnam, Turkey, Malaysia
Sales
Local : 100% local
sales.
International : No exports.
Property &
Assets
Premises : The Subject
operates from premises at the verified heading address
consisting of a showroom and administrative office.
Branches : None reported.
Central bank : Reserve Bank of Australia
Reserve of foreign exchange & gold : US$ 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, D/P, Telegraphic
transfer, Credit 30-90 days
Sales Term
Local : Cash, Credit card, Bank
transfer, 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
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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.