|
Report Date : |
25.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
BANTEX PTY LTD |
|
|
|
|
Formerly Known As : |
SCANREX PTY LTD
(initial) |
|
|
|
|
Registered Office : |
20 Huntingwood Drive
Huntingwood New South Wales 2148 |
|
|
|
|
Country : |
Australia |
|
|
|
|
Financials (as on) : |
30.06.2012 (Consolidated) |
|
|
|
|
Date of Incorporation : |
28.04.1972 |
|
|
|
|
Com. Reg. No.: |
000994310 |
|
|
|
|
Legal Form : |
Australian Proprietary Company |
|
|
|
|
Line of Business : |
Manufacturer and
distributor of office supplies. |
|
|
|
|
No. of Employees : |
51 employees |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
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) |
|
Australia |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 : BANTEX PTY LTD
Business address :
20 Huntingwood Drive
Town : Huntingwood
Province : New South Wales
Zip/postal code : 2148
Country : Australia
Tel : +61 2 88115333
Fax : +61 2 96727722
Email : sales@bantex.com.au
Website : www.bantex.com.au
Registered address
: 20 Huntingwood Drive
Town : Huntingwood
Province : New South Wales
Zip/postal code : 2148
Country : Australia
Executive Summary
Date founded or
registered : 28/04/1972
Legal form : Australian
Proprietary Company
Chief executive : Michael Stathakis
Issued & paid
up capital : AUD 800,000
Sales turnover : AUD 21,635,444
(Consolidated 12 months, 30/06/2012)
Net income : AUD 313,745
(Consolidated 12 months, 30/06/2012)
Total fixed assets
: AUD 14,988,037
(Consolidated 12 months, 30/06/2012)
Line of business :
Manufacturer and
distributor of office supplies.
Staff employed : 51 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 good
Organization
structure : Organizational structure is stable
Detrimental : No detrimental found
Payment history : No payment delays noted
Registry Data
Registration date
: 28/04/1972
Legal form : Australian Proprietary Company
Registration no Australian Company Number: 000994310
Registered authority
: Australian Securities &
Investments Commission
Fiscal/ Tax no : Australian Business Number:
72000994310
Registry status : Live/Active
Previous name : SCANREX PTY LTD (initial)
Change of legal
form : None reported.
Key Management
Name : Michael Stathakis
Designation : Managing Director
Name : Eduardo Fuentealba
Designation : Joint Managing Director
Name : Narendra Charan
Designation : Financial Controller
Appointments
Name : Michael Stathakis
Designation : Director and Company Secretary
Appointment date :
17/08/01
Address : 3 Marshall Street
Kogarah, NSW 2217
Australia
Biography : Born on 18-02-1976 in Sydney, New South
Wales, Australia.
Name : Eduardo Fuentealba
Designation :
Director
Appointment date :
25/10/07
Address : 41 West Crescent
Hurstville Grove, NSW 2220
Australia
Biography : Born on 21-04-1956 in Chanco, Chile.
Staff employed :
51 employees
Key Advisors
Auditors : HARRIS & ASSOCIATES
Suite 1, Level 11
49-51 York Street
Sydney, NSW 2000
Australia
Composition
Authorized Capital
: AUD 800,000
No of shares : 800,000 Ordinary Shares
Share par value : AUD 1
Issued capital : AUD 800,000
Paid up capital : AUD 800,000
How listed : Full
List
Composition
Shareholder name :
AOW PTY. LIMITED
Address : 20 Huntingwood Drive
Huntingwood, NSW 2148
Australia
No. of shares : 800,000 Ordinary Shares
% of shares : 100%
Structure
Name : AOW PTY. LIMITED
Affiliation type :
Parent Company
Address : 20 Huntingwood Drive
Huntingwood, NSW 2148
Australia
Name : BEAUTONE SPECIALTIES AUSTRALIA PTY
LIMITED
Affiliation type :
Wholly-owned Subsidiary
Address : 20 Huntingwood Drive
Huntingwood, NSW 2148
Australia
Name : MAYER PLASTICS PTY LTD
Affiliation type :
Sister Company
Address : 20 Huntingwood Drive
Huntingwood, NSW 2148
Australia
Bank Details
Name of bank : Commonwealth Bank Of Australia
Address : Australia
Account details : Current Account
Name of bank : Westpac Banking Corporation
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 : Satisfied Charges:
ASIC Charge Number: 29360
Date Registered: 10-05-1989
Charge type: Both Fixed & Floating
Date Created: 17-04-1989
Chargees Name: COMMONWEALTH BANK OF AUSTRALIA
ASIC Charge Number: 29391
Date Registered: 26-09-1985
Charge type: Both Fixed & Floating
Date Created: 11-09-1985
Chargees Name: KENT (AUSTRALIA) PTY LTD
ASIC Charge Number: 29418
Date Registered: 12-02-1974
Date Created: 31-01-1974
Chargees Name: CBC HOLDINGS LTD
ASIC Charge Number: 816868
Date Registered: 20-08-2001
Charge type: Both Fixed & Floating
Date Created: 17-08-2001
Chargees Name: ORIX AUSTRALIA CORPORATION LIMITED
ASIC Charge Number: 872975
Date Registered: 03-07-2002
Charge type: Both Fixed & Floating
Date Created: 28-06-2002
Chargees Name: GE CAPITAL FINANCE PTY LTD
ASIC Charge Number: 1100617
Date Registered: 10-11-2004
Charge type: Both Fixed & Floating
Date Created: 06-10-2004
Chargees Name: AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED
Unsatisfied Charges:
ASIC Charge Number: 1928410
Date Registered: 16-02-2010
Charge type: Both Fixed & Floating
Date Created: 12-02-2010
Chargees Name: WESTPAC BANKING CORPORATION
Legal Fillings
Bankruptcy
fillings : None reported.
Court judgements :
None reported.
Tax liens : None reported.
Others : None reported.
Description
Source of financial
statement : Commercial Registry Filings
Financial
statement date : 30/06/12
Type of accounts : Full audited
Currency : Australia
Dollar (AUD)
Exchange rate : 1 USD = AUD 0.95 as of
22-01-2013
Summarized Financial Information
Consolidation type
: Consolidated Consolidated
Currency : Australia Dollar
(AUD) Australia Dollar
(AUD)
Denomination : (x1) One (x1) One
Date of financial
year end : 30/06/12 30/06/11
Length of accounts
: 12 months 12 months
Sale turnover /
Income : 21,635,444 22,272,314
Gross profit : 8,833,111 9,388,570
Profit before tax
: 531,853 1,868,493
Net income : 313,745 1,275,280
Non current assets
: 6,686,604 5,428,001
Current assets : 8,301,433 8,344,162
Inventories : 3,639,389 3,823,780
Total assets : 14,988,037 13,772,163
Current
liabilities : 7,124,854 5,020,824
Non current
liabilities : 287,331 389,232
Total liabilities
: 7,412,185
5,410,056
Share equity : 7,575,852 8,362,107
Retained earning :
6,056,596 6,842,851
Comments : The
consolidated financial information above relates to the Subject and its only
subsidiary
Beautone Specialties Australia Pty Limited.
Main activities : The Subject is engaged in
manufacturing and distribution of office supplies.
Product & services : Office Products
-Binders, Folders
& Clipboards
-Binder
Accessories
-Display &
Presentation Books
-Paper Storage
-Cases,
Compendiums & Bags
-Tapes, Adhesives
& Metal Fasteners
-Rulers, Erasers
& Writing Accessories
-Staplers &
Punches
Filing Products
-Binders, Folders
& Clipboards
-Binder
Accessories
-Cases,
Compendiums & Bags
-Display &
Presentatin Books
-Expanding &
Box Files
Cutting Products
& Machines
-Shredders
-Guillotines
-Trimmers
-Paper Folders
-Scissors
-Sharpeners
Removable Adhesive
Notes
-Removable Self
Adhesive Notes
-Flags &
Accessories
-Pre-Printed
Message Notes & Flags
Writing
Instruments
-Pens
-Markers &
Highlighters
Adhesive Products
-Indexing Tabs
-Shelving &
Label Holders
-Pockets
-Self Laminating
Products
-Scrapbooking
Products
Scrapbook Products
-Keepbox &
Memento Files
-Binders and
Gusset Files
-Project Files,
Pockets & Albums
Technical Drawing
Products
-Drawing Boards
& Accessories
-Compasses &
Drawinig Sets
-Protractors, Set
Squares and Stencils
-Rulers
-Scissors,
Scalpels & Cutting Mats
Presentation &
Display Products
-Document Holders
-Desk Stands &
Wall Units
Digital
Presentation & Meeting Technology
-Digital display
products
-Business,
Conference, Education, Government
Enviro-Friendly
Filing
-Binders, Folders
-Binder
Accessories
Enviro-Friendly
Desk Stationery
-Stapler,
Hole-punch, Tape dispenser
Brand : Bantex,
Beautone, Zebra, Linex, Tarifold, Ecoboard, Ecoboard office, 3L,
Stickon notes,
Ledah, Legacy Crafters, Paper Show
Purchases
International :
Mainly Asia, Europe
Sales
Local : Yes
International :
The Subject exports its products to over 70 countries worldwide
Property & Assets
Premises : The Subject
operates from premises located at the verified heading
address consisting
of a production facilities, warehouse and administrative
office.
Branches : In
addition, the Subject operates from branch facilities located at:
95-101 Wetherill
Street North
Silverwater, NSW
2128
Australia
Tel: +61 2
96471555
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
Local :
Prepayment, D/P, Credit up to 90 days
International :
L/C, Prepayment, D/P, Credit up to 90 days
Sales Term
Local :
Prepayment, D/P, Credit up to 90 days
International :
L/C, Prepayment, D/P, Credit up to 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.53.85 |
|
|
1 |
Rs.85.25 |
|
Euro |
1 |
Rs.71.72 |
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 |
|
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 |
|
-- |
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.