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Report Date : |
03.12.2013 |
IDENTIFICATION DETAILS
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Name : |
KMIS PTY LTD |
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Formerly Known as: |
W.A.M.M. DISTRIBUTION SERVICES PTY
LTD |
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Registered Office : |
12 Jacaranda Drive,
Ballajura, Western Australia, Zip code 6066 |
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Country : |
Australia |
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Date of Incorporation : |
06.10.1992 |
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Com. Reg. No.: |
057674174 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
· Importer and wholesale distributor of ropes and cords Subject distributes its
products to the industrial, mining, hardware, canvas, marine and
manufacturing industries |
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No. of Employees : |
04 |
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 – September 30th, 2013
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Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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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 : KMIS PTY LTD
Other style / Business name :
WA ROPES & HARDWARE
Business address : 132 Beringarra Avenue
Town : Malaga
Province : Western
Australia
Zip/postal code : 6090
Country : Australia
Tel : +61 8 92498578
Fax : +61 8 92489469
Email : info@waropes.com.au
Website : www.waropes.com.au
Registered address : 12 Jacaranda Drive
Town : Ballajura
Province : Western
Australia
Zip/postal code : 6066
Country Australia
Executive Summary
Date founded or registered : 06/10/1992
Legal form : Australian
Proprietary Company
Chief executive : Kent Steven Mills
Issued & paid up capital
: AUD 2
Line of business : Import and wholesale
distribution of ropes and cords.
Staff employed : 4 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
undetermined
Organization structure : Organizational structure is stable
Detrimental : No detrimental found
Payment history : No payment delays noted
Registry Data
Registration date : 06/10/1992
Legal form : Australian
Proprietary Company
Registration no Australian Company
Number: 057674174
Registered authority : Australian Securities and
Investments Commission
Fiscal/ Tax no : Australian Business
Number: 40718858286
Registry status : Live/Active
Previous name : W.A.M.M. DISTRIBUTION
SERVICES PTY LTD
BARI PTY LTD (initial)
Change of legal form : None reported.
Other registration : WA ROPES & HARDWARE is a
business name owned by the Subject registered
on 22/12/2004 under business registration no: BN10164285.
Key Management
Name : Kent Steven Mills
Designation : Managing Director
Appointments
Name : Amanda Jane Mills
Designation : Director and Company Secretary
Appointment date : 01/08/96
Address : 12 Jacaranda Drive
Ballajura,
WA 6066
Australia
Biography : Born on 03-10-1965 in Perth,
Western Australia, Australia.
Name : Kent Steven Mills
Designation : Director
Appointment date : 01/08/96
Address : 12 Jacaranda Drive
Ballajura,
WA 6066
Australia
Biography : Born on 03-03-1964 in Perth,
Western Australia, Australia.
Staff employed : 4 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 : Kent Steven Mills
Address : 12 Jacaranda Drive
Ballajura,
WA 6066
Australia
No. of shares : 1 Ordinary Share
% of shares : 50%
Shareholder name : Amanda Jane Mills
Address : 12 Jacaranda Drive
Ballajura,
WA 6066
Australia
No. of shares : 1 Ordinary Share
% of shares : 50%
Structure
Related companies and corporate
affiliations comments : None reported.
Bank Details
Name of bank : Bankwest
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. Kent Steven Mills 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 $12.5 million, and
-The
company and any entities it controls have fewer than 50 employees at the
end of the
financial year.
Main activities : The Subject engages in import and wholesale
distribution of ropes and cords.
The
Subject distributes its products to the industrial, mining, hardware,
canvas,
marine and manufacturing industries.
Product & services : Ropes
Cords
Twines
Tie-down
nets
Coir door
mats
Rope nets
Ladders
Purchases
International : Taiwan, Malaysia, Germany,
United Kingdom, India
Sales
Local : Yes
International : No exports.
Property &
Assets
Premises : The Subject operates from the
verified heading address consisting of a
warehouse and an administrative office.
Branches : None reported.
Gross Domestic
Products (GDP) & Economic Overview
Central bank : Reserve
Bank of Australia
Reserve of foreign exchange
& gold : US$ 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 &
aming), 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%
PAY
Purchase Term
International : Telegraphic transfer, D/P,
Credit 30-60 days
Sales Term
Local : Bank transfer, Credit
30-60 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 |
|
US Dollar |
1 |
Rs.62.23 |
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UK Pound |
1 |
Rs.102.14 |
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Euro |
1 |
Rs.84.64 |
INFORMATION DETAILS
|
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.