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Report Date : |
28.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
EC2 PTY LTD |
|
|
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Registered Office : |
C/o ESTEEM
ACCOUNTING & TAX SERVICES Suite E1, 118 Railway
Street, West Perth, Western Australia, 6005 |
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Country : |
Australia |
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Date of Incorporation : |
17.03.2006 |
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Com. Reg. No.: |
118851586 |
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Legal Form : |
Australian
Proprietary Company |
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Line of Business : |
Importer and distributor of lighting products for
industrial, commercial and residential use. |
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No. of Employees : |
6 employees
including directors |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
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 : EC2 PTY LTD
Other style /
Business name : EC2 TECHNOLOGY
Business address :
Unit 2, 50 Tulloch Way
Town : Canning
Vale
Province : Western
Australia
Zip/postal code : 6155
Country : Australia
Tel : +61 8
94565227
Fax : +61 8
61611074
Email : osupport@ec2tech.com.au
Website : www.ec2tech.com.au
Registered address
: C/o ESTEEM ACCOUNTING
& TAX SERVICES
Suite E1, 118 Railway Street
Town : West Perth
Province : Western
Australia
Zip/postal code : 6005
Country : Australia
Executive Summary
Date founded or registered : 17/03/2006
Legal form : Australian
Proprietary Company
Chief executive : Albert Wong
Issued & paid up capital :
AUD 60,000
Sales turnover : AUD 1,000,000
(Estimated Non-Consolidated 12 months, 30/06/2013)
Line of business : Importer and distributor
of lighting products for industrial, commercial and
residential use.
Staff employed : 6 employees
including directors
Company Analysis
Country risk : Country risk is
minimal
Operation trend : Operational trend is
steady
Management experience : Management is modestly experienced
Financial performance : Financial performance is fair
Organization structure : Organizational structure is
acceptable
Detrimental : No detrimental found
Payment history : No payment delays noted
Registry Data
Registration date : 17/03/2006
Legal form : Australian
Proprietary Company
Registration no Australian Company
Number: 118851586
Registered authority : Australian Securities and Investments
Commission
Fiscal/ Tax no : Australian Business
Number: 15118851586
Registry status : Live/Active
Previous name : None reported.
Change of legal form : None reported.
Other registration : EC2 TECHNOLOGY is a business
name owned by the Subject registered on
09/08/2011 under business registration no: BN11927173.
Key Management
Name : Albert Wong
Designation : Managing Director
Name : James Ping Young
Designation : Joint Managing Director
Appointments
Name : Albert Wong
Designation : Director and Company Secretary
Appointment date : 17/03/06
Address : 3 Rodinga Close
Rossmoyne, WA 6148
Australia
Biography : Born on 30-12-1971 in Sibu,
Sarawak, Malaysia.
Name : James Ping Young
Designation : Director
Appointment date : 17/03/06
Address : 76 Florence Road
Nedlands, WA 6009
Australia
Biography : Born on 25-06-1972 in
Changhua County, Taiwan.
Staff employed : 6 employees including
directors
Composition
Authorized Capital : AUD 60,000
No of shares : 600,000 Ordinary Shares
Share par value : AUD 0.1
Issued capital : AUD 60,000
Paid up capital : AUD 60,000
How listed : Full List
Composition
Shareholder name : Albert Wong
Address : 3 Rodinga Close
Rossmoyne, WA 6148
Australia
No. of shares : 300,000 Ordinary Shares
% of shares : 50%
Shareholder name : James Ping Young
Address : 76 Florence Road
Nedlands, WA 6009
Australia
No. of shares : 300,000 Ordinary Shares
% of shares : 50%
Structure
Related companies and corporate
affiliations comments: None
reported.
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
Source of financial statement : Provided
by the Subject
Financial statement date : 30/06/13
Type of accounts : Estimated
key figures
Currency : Australia
Dollar (AUD)
Exchange rate : 1
USD = AUD 1.12 as of 23-12-2013
Summarized
Financial Information
Consolidation type : Non
Consolidated
Currency : Australia
Dollar (AUD)
Denomination : x1)
One
Date of financial year end : 30/06/13
Length of accounts : 12
months
Sale turnover / Income : 1,000,000
Comments : The
estimated turnover was provided by Mr. Albert Wong.
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 $12.5 million, and
-The company and any
entities it controls have fewer than 50 employees at the
end of the financial year.
Main activities : The Subject engages as
importer and distributor of lighting products for industrial, commercial and
residential use.
Brand
: AMKO
SOLARA
EPOCH LIGHTING
UNISTAR OPTO
Purchases
International : Malaysia,
Taiwan, China
Sales
Local : Yes
International : No
exports.
Property &
Assets
Premises : The Subject
operates from the verified heading address consisting of a warehouse and an
administrative office.
Branches : None
reported.
Gross Domestic Products (GDP) & Economic
Overview
Central bank : Reserve
Bank of Australia
Reserve of foreign
exchange & gold : US$ 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 2010:
20.4%
(General
Government gross debt as 2011:
22.9%
a % GDP) 2012:
24%
Government bond
ratings : Standard
& Poor's: AAA
Moody's rating: Aaa
Moody's outlook: STA
Market value of publicly traded US$1.198
trillion
shares
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)
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)
Total population : 22.68
million
Total area : 7,692,024
km2
Capital : Canberra
Currency : Australian
dollars (AUD)
Internet users as % of total 79%
population
Purchase Term
International : Telegraphic
transfer, Credit 30-60 days
Sales Term
Local : Bank
transfer, Prepayment, Cheque, Credit 30 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.62.06 |
|
|
1 |
Rs.102.03 |
|
Euro |
1 |
Rs.85.27 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
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 |
|
<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.