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Report Date : |
19.02.2013 |
IDENTIFICATION DETAILS
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Name : |
STRANDBAGS GROUP
PTY LIMITED |
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Formerly Known As : |
HANDBAGS INTERNATIONAL PTY LTD |
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Registered Office : |
South Tower, Level 1 2 Minna Close Belrose New South Wales 2085 |
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Country : |
Australia |
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Date of Incorporation : |
13.12.1983 |
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Com. Reg. No.: |
002696915 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Owns and operates a chain of retail store across Australia offering fashion handbags, wallets, backpacks and luggage's. |
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No. of Employees : |
600 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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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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
Australia's abundant and diverse natural resources attract high levels of foreign investment and include extensive reserves of coal, iron ore, 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 also has a large services sector and is a significant exporter of natural resources, energy, and food. Key tenets of Australia''s trade policy include support for open trade and the successful culmination of the Doha Round of multilateral trade negotiations, particularly for agriculture and services. The Australian economy grew for 17 consecutive years before the global financial crisis. Subsequently, the former RUDD government introduced a fiscal stimulus package worth over US$50 billion to offset the effect of the slowing world economy, while the Reserve Bank of Australia cut interest rates to historic lows. These policies - and continued demand for commodities, especially from China - helped the Australian economy rebound after just one quarter of negative growth. The economy grew by 1.4% during 2009 - the best performance in the OECD - by 2.7% in 2010, and by 1.8% in 2011. Unemployment, originally expected to reach 8-10%, peaked at 5.7% in late 2009 and fell to 5.0% in 2011. As a result of an improved economy, the budget deficit is expected to peak below 4.2% of GDP and the government could return to budget surpluses as early as 2015. Australia was one of the first advanced economies to raise interest rates, with seven rate hikes between October 2009 and November 2010. The GILLARD government is focused on raising Australia''s economic productivity to ensure the sustainability of growth, and continues to manage the symbiotic, but sometimes tense, economic relationship with China. Australia is engaged in the Trans-Pacific Partnership talks and ongoing free trade agreement negotiations with China, Japan, and Korea.
Source
: CIA
Verified Address
Subject name : STRANDBAGS GROUP PTY LIMITED
Business address :
South Tower, Level 1
2 Minna Close
Town : Belrose
Province : New South Wales
Zip/postal code : 2085
Country : Australia
Tel : +61 2 94797777
Fax : +61 2 94500679
Website : www.strandbags.com.au
Registered address
: South Tower, Level 1
2 Minna Close
Town : Belrose
Province : New South Wales
Zip/postal code : 2085
Country : Australia
Postal address : Locked Bag 77
Town : St.Ives
Province : New South Wales
Zip/postal code : 2075
Country : Australia
Executive Summary
Date founded or
registered : 13/12/1983
Legal form : Australian
Proprietary Company
Chief executive : Rory Lindsay Crawford
Issued & paid
up capital : AUD 8,117,864
Sales turnover : AUD 115,000,000 (Estimated
Non-consolidated 12 months, 30/06/2012)
Line of business :
Owns and operates a
chain of retail store across Australia offering fashion
handbags, wallets, backpacks and luggage's.
Staff employed : 600 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
: 13/12/1983
Legal form : Australian
Proprietary Company
Registration no Australia Company
Number: 002696915
Registered
authority : Australian
Securities and Investments Commission
Fiscal/ Tax no : Australia Business
Number: 52002696915
Registry status : Live/Active
Previous name : HANDBAGS INTERNATIONAL
PTY LTD
VIDOO PTY LTD (initial)
Change of legal
form : None reported.
Key Management
Name : Rory Lindsay Crawford
Designation : Chief Executive Officer
Name : Gregory
Benjamin Hayim
Designation : Chief Financial Officer
Appointments
Name : Raymond Stanley Philip
Davies
Designation : Director
Appointment date : 20/07/90
Address : Penthouse 8, St Johns Wood
Court
St Johns Wood Road, St John's Wood
London, NW8 8QT
United Kingdom
Biography : Born on 26-05-1942 in Cape
Town, South Africa.
Name : Rory Lindsay Crawford
Designation : Director
Appointment date :
01/01/09
Address : 40 Palmgrove Road
Avalon, NSW 2107
Australia
Biography : Born on 08-07-1960 in Cape
Town, South Africa.
Name : Gregory Benjamin Hayim
Designation : Director and Company Secretary
Appointment date :
31/07/12
Address : 9 Snape Street
Maroubra, NSW 2035
Australia
Biography : Born on 18-03-1965 in
Johannesburg, South Africa.
Name : Michael Lewis
Designation : Director
Appointment date :
20/07/90
Address : 11 Gloucester Gate
London NW1 4HG
United Kingdom
Biography : Born on 27-01-1959 in Cape
Town, South Africa.
Staff employed : 600 employees
Key Advisors
Auditors : DELOITTE TOUCHE TOHMATSU
225 George Street
Sydney, NSW 2000
Australia
Composition
Authorized Capital
: AUD 8,117,864
No of shares : 98,718,744 Ordinary Shares
Share par value : No par value
Issued capital : AUD 8,117,864
Paid up capital : AUD 8,117,864
How listed : Full
List
Composition
Shareholder name :
STRANDBAGS HOLDINGS PTY LTD
Address : South Tower, Level 1
2 Minna Close
Belrose, NSW 2085
Australia
No. of shares : 98,718,744 Ordinary Shares
% of shares : 100%
Structure
Name : OCEANA INTERNATIONAL NV
Affiliation type :
Ultimate Holding Company
Address : Henri Van Heurckstraat 15
2000 Antwerpen
Belgium
Name : STRANDBAGS HOLDINGS PTY LTD
Affiliation type :
Parent Company
Address : South Tower, Level 1
2 Minna Close
Belrose, NSW 2085
Australia
Name : BRADMAN'S STORES PTY. LIMITED
Affiliation type :
Sister Company
Address : South Tower, Level 1
2 Minna Close
Belrose, NSW 2085
Australia
Name : COLORADO BAG CO PTY. LTD.
Affiliation type :
Sister Company
Address : South Tower, Level 1
2 Minna Close
Belrose, NSW 2085
Australia
Name : HANDBAGS INTERNATIONAL PTY LIMITED
Affiliation type :
Sister Company
Address : South Tower, Level 1
2 Minna Close
Belrose, NSW 2085
Australia
Related companies
and corporate
affiliations
comments: Other companies of the Strandbags Group should be considered affiliates
of the
Subject.
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 : External Sources
Financial
statement date : 30/06/12
Type of accounts :
Estimated key figures
Currency : Australia Dollar
(AUD)
Exchange rate : 1 USD = AUD 0.97 as of
18-02-2013
Summarized Financial Information
Consolidation type
: Non Consolidated
Currency : Australia Dollar
(AUD)
Denomination : (x1) One
Date of financial
year end : 30/06/12
Length of accounts
: 12 months
Sale turnover /
Income : 115,000,000
Comments : 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 $12.5 million, and
-The company and any entities it controls have fewer than 50 employees
at the
end of the financial year.
Main activities : The Subject owns and operates a chain of retail
store across Australia
offering fashion handbags, wallets, backpacks and luggage's.
The Subject is ultimately owned by Oceana International NV.
Product &
services : The Subject's product falls under the following categories:
Handbags
Totes, Shoulders and Hobos, Across Body, Evening, Backpack
Luggage
Soft & Hard Suitcases, Duffles Wheeled & Non-Wheeled, Cabin
&
Computer
Business
Attaches, Briefcases, Computer Bags, Mobile Offices
Wallets
Ladies & Men Wallets
Backpacks
Wheeled and Computer Backpacks
Brand : KARDASHIAN KOLLECTION
MARIKAI
BLUEBIRD
GUESS
COLORADO
LANZA
FLYLITE
LUCCA
SAMSONITE
ANTLER
Purchases
International :
Mainly from India, China, Thailand, Turkey
Sales
Local : Yes
International : New
Zealand, South Africa, Middle-East
Property & Assets
Premises : The
Subject operates from the verified heading address consisting of an
administrative
office.
Branches : In
addition, the Group operates from over 350 stores located throughout
Australia, New
Zealand, the Middle East and recently South Africa.
Furthermore, the
Group operates from a 8,500 square meter distribution
centre located at:
1 Kellet Close
Erskine Park, NSW
2759
Australia
Gross Domestic Products (GDP) & Economic
Overview
Central bank : Reserve
Bank of Australia
Reserve of foreign
exchange & gold : US$ 43.879
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 : 2009:
1.8%
2010: 2.8%
2011: 3.4%
Unemployment rate
: 2009: 5.6%
2010: 5.2%
2011: 5.1%
Public debt
(General Government
gross debt as
a % GDP): 2009:
16.9%
2010: 20.4%
2011: 22.9%
Government bond
ratings : Standard
& Poor's: AAA/Stable/A-1+
Moody's rating: Aaa
Moody's outlook: STA
Market value of
publicly traded
shares: US$1.258
trillion
Largest companies in the country : Commonwealth
Bank (Banking), BHP Billiton (Materials), Westpac Banking Group (Banking), Rio
Tinto (Materials), National Australia Bank (Banking), ANZ Banking (Banking),
Telstra (Telecommunications)
Trade & Competitiveness Overview
Total exports : US$210.7 billion
Exports
commodities : Coal, iron ore, gold,
meat, wool, alumina, wheat
Total imports : US$187.2 billion
Imports
commodities : Machinery and transport
equipment, computers and office machines,
telecommunication equipment and parts, crude oil and petroleum products
Export - major
partners : Japan 18.9%, China 14.2%, South Korea 8%, US 6%, NZ 5.6%, India
5.5%, UK 4.2%
Import - major
partners : China 15.5%, US 12.8%, Japan 9.6%, Singapore 5.6%, Germany 5.2%,
UK 4.3%, Thailand
4.2%
FDI Inflows : 2008: US$46,843 million
2009: US$25,716 million
2010: US$32,472 million
FDI Outflows : 2008: US$33,604 million
2009: US$16,160 million
2010: US$26,431 million
Best countries for
doing business : 10 out of 183 countries
Global competitiveness
ranking : 20 (ranking by country on a basis of 142, the first is the best)
Country and Population Overview
Total population : 22.23 million
Total area : 7,692,024 km2
Capital : Canberra
Currency : Australian dollars (AUD)
Internet users as
% of total
population: 76%
Purchase Term
International :
L/C, D/P, Telegraphic transfer, Prepayment, Credit 30-120 days
Sales Term
Local : Cash,
Credit card
International :
Prepayment, Telegraphic transfer, D/P, Credit 30-120 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.54.29 |
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|
1 |
Rs.84.09 |
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Euro |
1 |
Rs.72.44 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
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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.