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Report Date : |
16.08.2013 |
IDENTIFICATION DETAILS
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Name : |
H.K. METAL PRODUCTS PTY. LTD. |
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Formerly Known As : |
H.K.PRODUCTS FLOORING PTY. LTD. (initial) |
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Registered Office : |
5-7 Tarnard Drive Braeside Victoria 3195 |
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Country : |
Australia |
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Date of Incorporation : |
25.06.1969 |
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Com. Reg. No.: |
004779506 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Manufacturer and sale of steel and aluminum grating and related
products. |
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No. of Employees : |
7 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
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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.
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Source
: CIA |
Verified Address
Subject name : H.K.
METAL PRODUCTS PTY. LTD.
Business address : 5-7
Tarnard Drive
Town : Braeside
Province : Victoria
Zip/postal code : 3195
Country : Australia
Tel : +61
3 95800146
Fax : +61
3 95806529
Email : info@hkmetalproducts.com.au
Website : www.hkmetalproducts.com.au
Registered address : 5-7
Tarnard Drive
Town : Braeside
Province : Victoria
Zip/postal code : 3195
Country : Australia
Executive Summary
Date founded or registered : 25/06/1969
Legal form : Australian
Proprietary Company
Chief executive : Jeremy
Martin Cutts
Issued & paid up capital : AUD
21,500
Line of business : Manufacturer
and sale of steel and aluminum grating and related products.
Staff employed : 7
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 : 25/06/1969
Legal form : Australian
Proprietary Company
Registration no Australian Company Number: 004779506
Registered authority : Australian
Securities and Investments Commission
Fiscal/ Tax no : Australian
Business Number: 70004779506
Registry status : Live/Active
Previous name : H.K.PRODUCTS
FLOORING PTY. LTD. (initial)
Change of legal form : None
reported.
Key Management
Name : Jeremy
Martin Cutts
Designation : Managing
Director
Appointments
Name : Jeremy
Martin Cutts
Designation : Director
and Company Secretary
Appointment date : 10/10/00
Address : 8
Coolullah Avenue
South Yarra, VIC 3141
Australia
Biography : Born
on 17/11/1953 in Melbourne, Victoria, Australia.
Name : Robin Louise Cutts
Designation : Director
Appointment date : 05/12/01
Address : 8
Coolullah Avenue
South Yarra, VIC 3141
Australia
Biography : Born
on 18/08/1956 in Melbourne, Victoria, Australia.
Staff employed : 7 employees
Composition
Authorized Capital : AUD
21,500
No of shares : 21,500
Ordinary Shares
Share par value : AUD 1
Issued capital : AUD
21,500
Paid up capital : AUD
21,500
How listed : Full List
Composition
Shareholder name : SALISBURY
COVE PTY. LTD.
Address : 8
Coolullah Avenue
South Yarra, VIC 3141
Australia
No. of shares : 21,500
Ordinary Shares
% of shares : 100%
Structure
Related companies and corporate affiliations comments: None reported.
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
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 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 $12.5 million, and
-The company and any entities it controls
have fewer than 50 employees at the end of the financial year.
Main activities : The Subject engages in
manufacturing of steel and aluminium twistlock grating, steel handrailing
systems, domestic and industrial drainage grates.
Product & services : Aluminium
Twistlock
Twistlock
Drain Covers
Handrails
Twistlock Steel & Stairtreads
Purchases
International : Mainly
from China, India
Sales
Local :
Yes
International : None
reported.
Property &
Assets
Premises : The Subject operates from
premises at the verified heading address consisting of a production facility,
warehouse and an administrative office.
Branches : None
reported.
Gross Domestic
Products (GDP) & Economic Overview
Central bank : Reserve
Bank of Australia
Reserve of foreign exchange & gold : US$ 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 t 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,
Credit 30-90 days
Sales Term
Local : 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
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.51 |
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|
1 |
Rs.94.98 |
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Euro |
1 |
Rs.81.62 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.