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Report Date : |
26.04.2013 |
IDENTIFICATION DETAILS
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Name : |
ALLFASTENERS PTY LTD |
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Formerly Known As : |
ALLFASTENERS PTY (initial) |
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Registered Office : |
15-17 Lambeck Drive Tullamarine Victoria 3043 |
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Country : |
Australia |
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Date of Incorporation : |
22.04.2005 |
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Com. Reg. No.: |
113948100 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Import & distribution of fasteners and related products. |
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No. of Employees : |
40 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
|
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 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.
Source
: CIA
Verified Address
Subject name : ALLFASTENERS PTY LTD
Business address :
15-17 Lambeck Drive
Town : Tullamarine
Province : Victoria
Zip/postal code : 3043
Country : Australia
Tel : +61 3 93300555
Fax : +61 3 93386434
Email : sales@allfasteners.com.au
Website : www.allfasteners.com.au
Registered address
: 15-17 Lambeck Drive
Town : Tullamarine
Province : Victoria
Zip/postal code : 3043
Country : Australia
Postal address : P.O. Box 1025
Town : Tullamarine
Province : Victoria
Zip/postal code : 3043
Country : Australia
Executive Summary
Date founded or
registered : 22/04/2005
Legal form Australian Proprietary Company
Chief executive : David John Strange
Issued & paid
up capital : AUD 3
Sales turnover : AUD 13,000,000 (Estimated
Non-consolidated 12 months, 30/06/2012)
Line of business :
Import &
distribution of fasteners and related products.
Staff employed : 40 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 good
Organization
structure : Organizational
structure is stable
Detrimental : No detrimental found
Payment history : No payment delays noted
Registry Data
Registration date
: 22/04/2005
Legal form : Australian
Proprietary Company
Registration no Australian Company
Number: 113948100
Registered
authority : Australian
Securities and Investments Commission
Fiscal/ Tax no : Australian Business
Number: 86766075300
Registry status : Live/Active
Previous name : ALLFASTENERS PTY
(initial)
Change of legal
form : None reported.
Key Management
Name : David John Strange
Designation : Managing Director
Appointments
Name : David John Strange
Designation : Director
Appointment date :
22/04/05
Address : 10 Aqueduct Lane
Diamond Creek, VIC 3089
Australia
Biography : Born on 25-09-1950 in
Frankston, Victoria, Australia.
Name : Michael Jonathan
Strange
Designation : Director and Company Secretary
Appointment date :
22/04/05
Address : 18 Monomeath Avenue
Diamond Creek, VIC 3089
Australia
Biography : Born on 10-06-1973 in Box
Hill, Victoria, Australia.
Name : James Bradley Strange
Designation : Director and Company Secretary
Appointment date :
22/04/05
Address : 14 Josephine Court
Plenty, VIC 3090
Australia
Biography : Born on 03-09-1971 in Box
Hill, Victoria, Australia.
Staff employed : 40 employees
Composition
Authorized Capital
: AUD 3
No of shares : 3 Ordinary Shares
Share par value : AUD 1
Issued capital : AUD 3
Paid up capital : AUD 3
How listed : Full List
Composition
Shareholder name :
David John Strange
Address : 10 Aqueduct Lane
Diamond Creek, VIC 3089
Australia
No. of shares : 1 Ordinary Share
Shareholder name :
Michael Jonathan Strange
Address : 18 Monomeath Avenue
Diamond Creek, VIC 3089
Australia
No. of shares : 1 Ordinary Share
Shareholder name : James Bradley Strange
Address : 14 Josephine Court
Plenty, VIC 3090
Australia
No. of shares : 1 Ordinary Share
Structure
Name : ALLFASTENERS (NSW) PTY
LTD
Affiliation type :
Associate
Address : 65 Atkins Road
Ermington, NSW 2115
Australia
Name : ALLFASTENERS
INVESTMENTS PTY LTD
Affiliation type :
Associate
Address : 15-17 Lambeck Drive
Tullamarine, VIC 3043
Australia
Name : ALLFASTENERS
CORPORATION PTY LTD
Affiliation type :
Associate
Address : 15-17 Lambeck Drive
Tullamarine, VIC 3043
Australia
Bank Details
Name of bank : National Australia Bank
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 0.97 as of
24-04-2013
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 : 13,000,000
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 $12.5 million, and
-The company and any entities it controls have fewer than 50 employees
at the
end of the financial year.
Main activities : The Subject engages in import and
distribution of fasteners and related
products.
The Subject's products are distributed to the building, construction and
manufacturing industries.
Product &
services : Anchors
Rivets
Screws
Collated Fasteners
Loose Nails
Threaded Fasteners
Security Fasteners
Drilling & Cutting
Abrasives
Sealants, Adhesives, Paints, Cleaners & Lubricants
HardwareHand Tools
Storage & Safety products
Purchases
International : Mainly from Europe, Asia
Sales
Local : Yes
International : New Zealand, Pacific Islands
Property & Assets
Premises : The Subject operates from premises at the
verified heading address
consisting of a warehouse and administrative office.
Branches : In addition, the Subject operates from
the following branch located at:
116 Churchill Road North
Dry Creek, SA 5094
Australia
Tel: +61 8 83598805
Gross Domestic Products (GDP) & Economic
Overview
Central bank : Reserve
Bank of Australia
Reserve of foreign
exchange & gold : US$ 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, L/C, Telegraphic transfer, D/P, Credit 30-120 days
Sales Term
Local :
Prepayment, Bank transfer, D/P, Credit 30-120 days
International :
Prepayment, Telegraphic transfer, D/P, Credit 30-120 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.54.17 |
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1 |
Rs.82.98 |
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Euro |
1 |
Rs.70.62 |
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.