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Report Date : |
12.01.2013 |
IDENTIFICATION DETAILS
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Name : |
ADVANCED INDUSTRIAL PRODUCTS PTY. LTD. |
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Registered Office : |
C/o Merrotts Chartered Accountants, Level 6, 241 Adelaide Street,
Brisbane, Queensland 4000 |
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Country : |
Australia |
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Date of Incorporation : |
10.02.1994 |
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Com. Reg. No.: |
063484355 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Import and wholesale distribution of hoses, fittings and valves. |
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No. of Employees : |
30 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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
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.
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Source : CIA |
Verified Address
Subject name :
ADVANCED INDUSTRIAL PRODUCTS PTY. LTD.
Business address : 55
Bernoulli Street
Town :
Darra
Province :
Queensland
Zip/postal code : 4076
Country :
Australia
Tel :
+61 7 37139900
Fax :
+61 7 37139999
Registered address : C/o
MERROTTS CHARTERED ACCOUNTANTS
Level 6, 241 Adelaide Street
Town :
Brisbane
Province :
Queensland
Zip/postal code : 4000
Country :
Australia
Executive Summary
Date founded or registered :
10/02/1994
Legal form :
Australian Proprietary Company
Chief executive :
Michael William Loakes
Issued & paid up capital :
AUD 2
Sales turnover :
AUD 5,000,000 (Estimated Non-consolidated 12 months, 30/06/2012)
Line of business :
Import and wholesale distribution of hoses, fittings and valves.
Staff employed :
30 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 fair
Organization structure :
Organizational structure is stable
Detrimental : No detrimental found
Payment history :
No payment delays noted
Registry Data
Registration date :
10/02/1994
Legal form :
Australian Proprietary Company
Registration no Australia Company Number :
063484355
Registered authority :
Australian Securities and Investments Commission
Fiscal/ Tax no : Australia Business Number:
41767018024
Registry status :
Live/Active
Previous name :
AUSTRAL INDUSTRIAL PRODUCTS PTY. LTD.
M.R.L. ENTERPRISES PTY LTD (initial)
Change of legal form :
None reported.
Key Management
Name :
Michael William Loakes
Designation :
Managing Director
Appointments
Name :
Michael William Loakes
Designation :
Director
Appointment date :
11/02/94
Address :
265 Holloway Road
Chambers
Flat, QLD 4133
Australia
Biography :
Born on 25-05-1950 in United Kingdom.
Name :
Robert Derek Loakes
Designation :
Director and Company Secretary
Appointment date :
11/02/94
Address : 20
Woodland Street
Ashgrove, QLD 4060
Australia
Biography :
Born on 12-05-1951 in United Kingdom.
Staff employed : 30
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 :
Jointly held by Carolyn M Loakes & Michael William Loakes
Address :
Carolyn M Loakes & Michael William Loakes
265
Holloway Road
Chambers Flat, QLD 4133
Australia
No. of shares :
1 Ordinary Share
% of shares :
50%
Shareholder name :
Jointly held by Canice M Loakes & Robert Derek Loakes
Address :
Canice M Loakes & Robert Derek Loakes
20 Woodland Street
Ashgrove, QLD 4060
Australia
No. of shares :
1 Ordinary Share
% of shares :
50%
Structure
Name :
ADVANCED INDUSTRIAL PRODUCTS (NSW) PTY LTD
Affiliation type :
Associate
Address :
21 Ormsby Place
Wetherill Park, NSW 2164
Australia
Name :
ADVANCED INDUSTRIAL PRODUCTS (AUST) PTY LTD
Affiliation type :
Associate
Address :
55 Bernoulli Street
Darra, QLD 4076
Australia
Bank Details
Name of bank :
National Australia Bank
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 0.95 as of 10-01-2013
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 :
5,000,000
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 $12.5 million, and -The company and any entities it controls have
fewer than 50 employees at the end of the financial year.
Main activities : The Subject is engaged in
import and wholesale distribution of hoses, fittings and valves.
Purchases
International :
Mainly from Asia
Sales
Local :
Yes
International :
New Zealand
Property &
Assets
Premises : The Subject operates from
premises located at the verified heading address consisting of a warehouse and administrative office.
Branches :
None reported.
Gross Domestic
Products (GDP) & Economic Overview
Central bank :
Reserve Bank of Australia
Reserve of foreign exchange & gold :
US$ 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 :
Prepayment, Telegraphic transfer, D/P, Credit 30-90 days
Sales Term
Local :
Prepayment, Bank transfer, D/P, Credit 30-90 days
International :
Prepayment, Telegraphic transfer, D/P, 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.54.54 |
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UK Pound |
1 |
Rs.88.05 |
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Euro |
1 |
Rs.72.29 |
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.