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Report Date : |
28.01.2013 |
IDENTIFICATION DETAILS
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Name : |
S. & R. FASHIONS PTY. LTD. |
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Registered Office : |
C/o CHARLES PARSONS (HOLDINGS) PTY LTD, Level 4, 59 Goulburn Street,
Sydney, New South Wales, 2000 |
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Country : |
Australia |
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Date of Incorporation : |
28.04.2000 |
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Com. Reg. No.: |
092609866 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Design, import and wholesale distribution of apparel's and accessories. |
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No. of Employees : |
100 employees (Subject) |
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 (31.03.2012) |
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 : S.
& R. FASHIONS PTY. LTD.
Business address : 7
English Street
Town :
Essendon North
Province :
Victoria
Zip/postal code : 3041
Country :
Australia
Tel :
+61 3 93803600
Fax :
+61 3 93803601
Email :
receptionmelbourne@srfashions.com.au
Website :
www.srfashions.com.au
Registered address : C/o
CHARLES PARSONS (HOLDINGS) PTY LTD
Level 4, 59 Goulburn Street
Town : Sydney
Province :
New South Wales
Zip/postal code : 2000
Country :
Australia
Executive Summary
Date founded or registered :
28/04/2000
Legal form :
Australian Proprietary Company
Chief executive :
Charles William Parsons
Issued & paid up capital :
AUD 2
Line of business :
Design, import and wholesale distribution of apparel's and accessories.
Staff employed :
100 employees (Subject)
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
Credit amount asked :
Not described.
Registry Data
Registration date :
28/04/2000
Legal form :
Australian Proprietary Company
Registration no Australia Company Number :
092609866
Registered authority :
Australian Securities and Investments Commission
Fiscal/ Tax no :
Australia Business Number: 67092609866
Registry status :
Live/Active
Previous name :
None reported.
Change of legal form :
None reported.
Key Management
Name : Charles William Parsons
Designation :
Managing Director
Appointments
Name :
Peter King
Designation :
Director and Company Secretary
Appointment date :
24/02/09
Address :
30A Brighton Street
Harbord, NSW 2096
Australia
Biography :
Born on 01-06-1966 in Sydney, New South Wales, Australia.
Name :
Charles William Parsons
Designation :
Director
Appointment date :
20/09/07
Address : 53
Athena Avenue
St Ives, NSW 2075
Australia
Biography :
Born on 20-02-1978 in Sydney, New South Wales, Australia.
Staff employed : 100
employees (Subject)
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 :
CHARLES PARSONS (HOLDINGS) PTY LTD
Address :
Level 4, 59 Goulburn Street
Sydney, NSW 2000
Australia
No. of shares :
2 Ordinary Shares
% of shares :
100%
Structure
Name : CHARLES
PARSONS (HOLDINGS) PTY LTD
Affiliation type : Parent
Company
Address : Level 4, 59
Goulburn Street
Sydney, NSW 2000
Australia
Comments : Charles Parsons (Holdings) Pty Ltd. through
its subsidiaries engages in wholesale of textiles, piece goods and home
furnishings products.
Name : CHARLES
PARSONS & CO PTY LTD
Affiliation type : Sister
Company
Address : Level 4, 59
Goulburn Street
Sydney, NSW 2000
Australia
Name : CHARLES
PARSONS (NZ) LIMITED
Affiliation type : Sister
Company
Address : Harbourside
Business Park
525 Rosebank Road
Avondale, Auckland 1026
New Zealand
Name : CHARLES
PARSONS PACIFIC LIMITED
Affiliation type : Sister
Company
Address : Harbourside
Business Park
525 Rosebank Road
Avondale, Auckland 1026
New Zealand
Bank Details
Name of bank : HSBC Bank
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
Comments : The
Subject’s annual turnover is estimated to be between AUD 35 to 50 million.
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 $12.5 million, and
-The company and any entities it controls
have fewer than 50 employees at the end of the financial year.
The Subject meets all criteria to disclose
their financial information however is still exempted by the Australian
Securities & Investments Commission.
Main activities : The Subject is
engaged in design, import and wholesale distribution of apparel's and
accessories.
In 2006, the Subject was bought by Charles
Parsons Group and currently operates as a wholly owned subsidiary of Charles
Parsons (Holdings) Pty Ltd. The Charles Parsons Group is a privately owned
fabrics house established in 1915. The company provides fashion and apparel
fabrics, garments and soft furnishings, industrial and commercial textile solutions
and homeware products.
Product & services :
Women’s fashion apparel and accessories.
Purchases
International :
Asia, Turkey
Sales
Local :
Yes
International :
New Zealand
Property &
Assets
Premises : The Subject
operates from premises located at the verified heading address consisting of a
administrative office and warehouse.
Branches :
None reported.
Gross Domestic
Products (GDP) & Economic Overview
Central bank :
Reserve Bank of Australia
Reserve of foreign exchange & gold :
US$ 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 :
L/C, D/P, Prepayment, Telegraphic transfer, Credit 30-90 days
Sales Term
Local :
Prepayment, Bank transfer, Credit 30-90 days
International :
L/C, D/P, Prepayment, Telegraphic transfer, 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
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Indian Rupees |
|
US Dollar |
1 |
Rs.53.85 |
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|
1 |
Rs.85.25 |
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Euro |
1 |
Rs.71.72 |
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.