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Report Date : |
14.08.2013 |
IDENTIFICATION DETAILS
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Name : |
FLORES NOMINEES PTY. LTD. |
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Registered Office : |
12 Tom Roberts Glade, Diamond Creek, Victoria 3089 |
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Country : |
Australia |
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Date of Incorporation : |
01.10.1979 |
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Com. Reg. No.: |
005593091 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Import, distribution and small scope production of food ingredients, pigments, resins, industrial dyes, adhesives and other related products. |
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No. of Employees : |
24 employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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) |
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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, 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 : FLORES
NOMINEES PTY. LTD.
Other style / Business name : RAVENSWOOD
AUSTRALIA
Business address : 74
Bayfield Road East
Town : Bayswater
North
Province : Victoria
Zip/postal code : 3153
Country : Australia
Tel : +61
3 97207000
Fax : +61
3 97207051
Email :
enquiry@ravenswoodaus.com.au
Website : www.ravenswoodaus.com.au
Registered address : 12
Tom Roberts Glade
Town : Diamond
Creek
Province : Victoria
Zip/postal code : 3089
Country : Australia
Executive Summary
Date founded or registered : 01/10/1979
Legal form : Australian
Proprietary Company
Chief executive : Graeme
John Fox
Issued & paid up capital : AUD
33
Line of business :
Import, distribution
and small scope production of food ingredients, pigments, resins, industrial
dyes, adhesives and other related products.
Staff employed : 24
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 good
Organization structure : Organizational
structure is stable
Detrimental : No detrimental found
Payment history : No
payment delays noted
Registry Data
Registration date : 01/10/1979
Legal form : Australian
Proprietary Company
Registration no Australian Company Number: 005593091
Registered authority : Australian
Securities and Investments Commission
Fiscal/ Tax no : Australian
Business Number: 21094928997
Registry status : Live/Active
Previous name : None
reported.
Change of legal form : None
reported.
Other registration
: RAVENSWOOD
AUSTRALIA is a business name owned by the Subject registered on 09/11/1989
under business registration no: 0936461C.
Key Management
Name : Graeme John Fox
Designation : Managing Director
Appointments
Name : Graeme
John Fox
Designation : Director
and Company Secretary
Appointment date : 01/10/79
Address : 6
Cottonwood Court
Templestowe, VIC 3106
Australia
Biography : Born
on 19-07-1940 in Rushworth, Victoria, Australia.
Name : Norma
Frances Fox
Designation : Director
Appointment date : 01/10/79
Address : 6
Cottonwood Court
Templestowe, VIC 3106
Australia
Biography : Born
on 12-11-1942 in Warrnambool, Victoria, Australia.
Staff employed : 24
employees
Composition
Authorized Capital : AUD 33
No of shares : 33
Ordinary Shares
Share par value : AUD 1
Issued capital : AUD
33
Paid up capital : AUD 33
How listed : Full
List
Composition
Shareholder name : Graeme
John Fox
Address : 6
Cottonwood Court
Templestowe, VIC 3106
Australia
No. of shares : 27
Ordinary Shares
Shareholder name : Norma
Frances Fox
Address : 6
Cottonwood Court
Templestowe, VIC 3106
Australia
No. of shares : 6
Ordinary Shares
Structure
Name : TYMANT PTY. LIMITED
Affiliation type : Associate
Address : 74 Bayfield Road
East
Bayswater North, VIC 3153
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
Comments : The
representative contacted Mr. Glenn Fox advised that the Subject’s estimated
annual turnover is
between AUD 15 million to AUD 20 million.
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 $12.5 million, and
-The company and any entities it controls
have fewer than 50 employees at the
end of the financial year.
Main activities : The
Subject engages in import, distribution and small scope production of
food ingredients,
pigments, resins, industrial dyes, adhesives and other related products.
The Subject
provides its services mainly to the food, plastic, ink and paint,
textile,
pharmaceutical and nutraceutical industries.
Product & services : -
Food ingredients: Synthetic colours, natural colours, gums / hydrocolloids,
cellulose,
stabilizer systems, preservatives, sweeteners etc
- Industrial dyes
- Resins
- Pigments: Organic, inorganic and high
performance pigments
- Adhesives
- Pharmaceutical ingredients: Colourants,
celluloses, excipients, plant
extracts etc
- Food ingredients blending services
Purchases
International : Mainly
from Asia, Europe
Sales
Local : Yes
International : New
Zealand
Property &
Assets
Premises : The
Subject operates from premises at the verified heading address
consisting of a
blending facility, warehouse, laboratory and an administrative office.
Branches : None
reported.
Intellectual property :
ISO9000:2000 certified
HACCP certified
Gross Domestic
Products (GDP) & Economic Overview
Central bank : Reserve
Bank of Australia
Reserve of foreign exchange & gold : US$ 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,
Credit 30-90 days
International : Telegraphic
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.43 |
|
|
1 |
Rs.95.76 |
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Euro |
1 |
Rs.81.76 |
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 |
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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 |
---- |
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.