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Report Date : |
03.08.2013 |
IDENTIFICATION DETAILS
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Name : |
REITSEMA PACKAGING PTY LTD |
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Formerly Known As : |
REITSEMA PACKAGING (TAS) PTY LTD |
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Registered Office : |
C/o Camerons
Accountants & Advisors 46 Cameron Street Launceston Tasmania 7250 |
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Country : |
Australia |
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Date of Incorporation : |
22.03.1977 |
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Com. Reg. No.: |
009508392 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Import and distribution of packaging products. |
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No. of Employees : |
25 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 – March, 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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, 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 : REITSEMA
PACKAGING PTY LTD
Other style / Business name : REITSEMA
PACKAGING
Business address : 6
Trotters Lane
Town : Prospect
Province : Tasmania
Zip/postal code : 7250
Country : Australia
Tel : +61
3 63444001
Fax : +61
3 63445001
Email :
info@reitsema.com.au
Website : www.reitsema.com.au
Registered address :
C/o CAMERONS ACCOUNTANTS & ADVISORS
46 Cameron Street
Town : Launceston
Province : Tasmania
Zip/postal code : 7250
Country : Australia
Executive Summary
Date founded or registered : 22/03/1977
Legal form : Australian
Proprietary Company
Chief executive : Frans
Reginald Reitsema
Issued & paid up capital : AUD
4
Line of business : Import
and distribution of packaging products.
Staff employed : 25
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 undetermined
Organization structure : Organizational
structure is stable
Detrimental : No
detrimental found
Payment history : No
payment delays noted
Registry Data
Registration date : 22/03/1977
Legal form : Australian
Proprietary Company
Registration no Australian Company Number: 009508392
Registered authority : Australian
Securities and Investments Commission
Fiscal/ Tax no : Australian
Business Number: 96009508392
Registry status : Live/Active
Previous name : REITSEMA
PACKAGING (TAS) PTY LTD
REITSEMA HOLDINGS PTY LTD
G.E. & E.M. RANSON NOMINEES PTY. LTD.
(initial)
Change of legal form : None
reported.
Other registration
: REITSEMA
PACKAGING is a business name owned by the Subject registered on 15/12/1994 under
business registration number: 101120B.
Key Management
Name : Frans
Reginald Reitsema
Designation : Managing
Director
Appointments
Name : Frans
Reginald Reitsema
Designation : Director
and Company Secretary
Appointment date : 26/05/03
Address : 34
Frensham Place
Martin, WA 6110
Australia
Biography : Born
on 21/08/1961 in Melbourne, Victoria, Australia.
Name : Lukas
Alexander Reitsema
Designation : Director
Appointment date : 02/04/98
Address : 204
Freshwater Point Road
Legana, TAS 7277
Australia
Biography : Born
on 06/09/1967 in Launceston, Tasmania, Australia.
Staff employed : 25
employees
Composition
Authorized Capital : AUD 4
No of shares : 4
Ordinary Shares
Share par value : AUD 1
Issued capital : AUD 4
Paid up capital : AUD 4
How listed : Full
List
Composition
Shareholder name : Frans
Reginald Reitsema
Address : 34
Frensham Place
Martin, WA 6110
Australia
No. of shares : 2
Ordinary Share
% of shares : 50%
Shareholder name : Lukas
Alexander Reitsema
Address : 204
Freshwater Point Road
Legana, TAS 7277
Australia
No. of shares : 2
Ordinary Share
% of shares : 50%
Structure
Name : REITSEMA
HOLDINGS PTY LTD
Affiliation type : Associate
Address : 6
Trotters Lane
Prospect, TAS 7250
Australia
Name : REITSEMA
HOLDINGS (INTERNATIONAL) PTY LTD
Affiliation type : Associate
Address : 6
Trotters Lane
Prospect, TAS 7250
Australia
Name : REITSEMA
PACKAGING EMPLOYEE BENEFITS PTY. LTD.
Affiliation type : Associate
Address : 6
Trotters Lane
Prospect, TAS 7250
Australia
Bank Details
Name of bank : Commonwealth
Bank of Australia
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
Comments : The representative contacted
Mr. Frans Reginald Reitsema declined to provide any financial information until
the inquiring party details are revealed.
The Subject is classified as a small
proprietary company by the Australian Securities & Investments Commission
hence is not required to disclose theirfinancial 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 entitiesit 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 $12.5 million, and
-The company and any entities it controls
have fewer than 50 employees at the end of the financial year.
Main activities : The
Subject engages in import and distribution of packaging products.
The Subject supplies its products to industries
such as agriculture, food, retail, aquaculture, industrial and wholesale.
Product & services : LDPE
and HDPE Bags
Wicketted Bags for automatic packing
Pallet Liners and Covers
RP™ Display Liners
RP™ System Carton Liners
Mulch Films – Plain and Co-Extruded
Pallet Wrap and Pallet Netting
PP Strapping
Multi Wall Paper Sacks
Thermoformed Fruit Containers
Checkout Bags – Plain and Printed
Produce Rolls
Patch Handle Fashion Bags
Soft Loop Handle Bags
Paper Fashion Bags
Car Litter Bags
PP Flower Sleeves
Gold and Silver Metallised Boards
Absorbent Pads – Air Freight Approved
Vacuum Pouches – Plain and Printed
BOPP Sheeting and Rewind
Gel Packs
PP Disposable Overcoats
Rubber and Cotton Gloves
Hand and Machine Stretch Film – Cast and
Blown
Heat Shrink Pallet Covers
Pallet Covers Perforated on Rolls
Recycled Films for ground cover
Zip Lock Bags
Plain and Printed Rewind
Low Slip Bags and Films
Garbage Bags – On Rolls, Loose Packed or
Individual Folded
Purchases
International : Mainly
from Asia, Europe
Sales
Local : Yes
International : No
exports.
Property &
Assets
Premises : The Subject operates from
premises at the verified heading address consisting a warehouse and
administrative office.
Branches : In
addition, the Subject operates from the following branch office located at:
17 Orchard Road
Maddington, WA 6109
Australia
Tel: +61 8 92516900
Gross Domestic
Products (GDP) & Economic Overview
Central bank : Reserve
Bank of Australia
Reserve of foreign exchange & gold : US$ 46.714 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 : 2010:
2.8%
2011: 3.4%
2012: 2.7%
Unemployment rate : 2010:
5.2%
2011: 5.1%
2012: 5.2%
Public debt
(General Government gross debt as
a % GDP): 2010: 20.4%
2011: 22.9%
2012: 24%
Government bond ratings : Standard
& Poor's: AAA
Moody's rating: Aaa
Moody's outlook: STA
Market value of publicly traded
shares:
US$1.198 trillion
Largest companies in the country : Qantas
Airways (Airline),Coca-Cola Amatil (Beverages), CSL (Biotechs),
Brambles (Business & Personal
Services),Crown Ltd (Casinos &
Gaming), Amcor (Containers & Packaging),Suncorp-Metway (Diversified
Insurance), BHP Billiton (Diversified Metals & Mining),Newcrest Mining
(Diversified Metals & Mining), Orica (Diversified Metals & Mining),
Iluka
Resources(Diversified Metals & Mining),
Origin Energy (Electric Utilities),
AGL Energy (Electric Utilities), Wesfarmers
(Food Retail), Woolworths
(Food Retail), Metcash (Food Retail),
Macquarie Group (Investment
services), AMP (Investment services),
Challenger Ltd (Investment
services), Fortescue Metals Group (Iron
& Steel), Bluescope Steel (Iron & Steel), Commonwealth Bank (Major
Banks), Westpac Banking Group
(Major Banks), National Australia Bank
(Major Banks), ANZ (Major Banks), Woodside Petroleum (Oil & Gas
Operations), Santos (Oil & Gas
Operations), Caltex Australia (Oil & Gas
Operations), WorleyParsons (Oil
Services & Equipment), Toll Holdings
(Other Transportation), Transurban
Group (Other Transportation), QBE Insurance
Group (Property & Casualty Insurance), Insurance Australia Group (Property
& Casualty Insurance), QR National (Railroads), Westfield Group (Real
Estate), Stockland Australia (Real Estate), Westfield Retail Trust (Real
Estate), Lend Lease (Real Estate), CFS Retail Property Trust (Real Estate),
Goodman Group (Real Estate), Bendigo & Adelaide Bank (Regional Banks), Bank
of Queensland (Regional Banks), Incitec Pivot (Specialized Chemicals), Telstra
(Telecommunications Services)
Trade &
Competitiveness Overview
Total exports : US$263.9
billion
Exports
commodities : Coal,
iron ore, gold, meat, wool, alumina, wheat, machinery and transport equipment
Total imports : US$239.7
billion
Imports
commodities : Machinery
and transport equipment, computers and office machines, telecommunication
equipment and parts; crude oil and petroleum products
Export - major partners : China
27.4%, Japan 19.2%, South Korea 8.9%, India 5.8%
Import - major partners : China
18.5%, US 11.4%, Japan 7.9%, Singapore 6.3%, Germany 4.7%
FDI Inflows : 2009:
US$26,554 million
2010: US$35,556
million
2011: US$41,317
million
FDI Outflows : 2009:
US$16,693 million
2010: US$12,791 million
2011: US$19,999 million
Best countries for doing business : 10
out of 185 countries
Global competitiveness ranking : 20
(ranking by country on a basis of 144, the first is the best)
Country and
Population Overview
Total population : 22.68
million
Total area : 7,692,024
km2
Capital : Canberra
Currency : Australian
dollars (AUD)
Internet users as % of total
population: 79%
Purchase Term
International : Telegraphic
transfer, D/P, Credit 30-90 days
Sales Term
Local : Bank transfer, Prepayment, 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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.80 |
|
|
1 |
Rs.91.95 |
|
Euro |
1 |
Rs.80.36 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
RATING EXPLANATIONS
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
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.