MIRA INFORM REPORT
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Report Date : |
06.07.2013 |
IDENTIFICATION DETAILS
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Name : |
AUSTKO PTY. LTD |
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Registered Office : |
7 Forest
Place, Templestowe, Victoria, Zip/postal code 3106 |
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Country : |
Australia |
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Date of Incorporation : |
22.09.1993 |
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Com. Reg. No.: |
061652480 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Import and
wholesale distribution of fashion apparels and fabrics. |
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No. of Employees : |
05 |
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 – March 31st 2013
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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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
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 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 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.
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Source : CIA |
Verified Address
Subject name :
AUSTKO PTY. LTD.
Business
address : 39 Keysborough Avenue
Town : Keysborough
Province : Victoria
Zip/postal
code : 3173
Country : Australia
Tel : +61 3 98429503
Fax : +61 3 97984944
Email : austkosales@gmail.com
Website : www.austko.com.au
Registered
address : 7 Forest Place
Town : Templestowe
Province : Victoria
Zip/postal
code : 3106
Country : Australia
Executive Summary
Date founded
or registered : 22/09/1993
Legal form : Australian
Proprietary Company
Chief
executive : Yong
Keun Park
Issued &
paid up capital : AUD 10
Line of
business : Import and
wholesale distribution of fashion apparels and fabrics.
Staff employed
: 5 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 undetermined
Organization
structure : Organizational
structure is stable
Detrimental : No detrimental found
Payment
history : No payment
delays noted
Registry Data
Registration
date : 22/09/1993
Legal form : Australian
Proprietary Company
Registration
no Australian
Company Number: 061652480
Registered
authority : Australian
Securities and Investments Commission
Fiscal/ Tax no
: Australian
Business Number: 87061652480
Registry
status : Live/Active
Previous name
: None reported.
Change of
legal form : None reported.
Key Management
Name : Yong Keun
Park
Designation : Managing Director
Appointments
Name : Yong Keun Park
Designation : Director and Company Secretary
Appointment
date : 22/09/93
Address : 7 Forest Place
Templestowe, VIC 3106
Australia
Biography : Born on 21-08-1954 in Seoul,
South Korea.
Staff employed
: 5 employees
Composition
Authorized
Capital : AUD 10
No of shares :
10 Ordinary Shares
Share par
value : AUD 1
Issued capital
: AUD 10
Paid up capital : AUD
10
How listed : Full List
Composition
Shareholder
name : Sun-I Park
Address : 7 Forest Place
Templestowe, VIC 3106
Australia
No. of shares
: 4 Ordinary Shares
Shareholder
name : Yong Keun Park
Address : 7 Forest Place
Templestowe, VIC 3106
Australia
No. of shares
: 6 Ordinary Shares
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
Comments : The representative
contacted Mr. Yong Keun Park declined to provide any
financial information until the inquiring party details
are revealed.
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 $12.5 million, and
-The company
and any entities it controls have fewer than 50 employees at the end of the
financial year.
Main
activities : The
Subject engages in import and wholesale distribution of fashion
apparels and fabrics.
Product &
services : Fabrics
Apparels: Dress, Blouses & Tops & Shirts, Women's Suits
& Blazers, Coats
& Jackets, Vests, Trousers, Skirts
Purchases
International
: Mainly from
China, Taiwan, South Korea, India
Sales
Local : Yes
International
: None
reported.
Property & Assets
Premises : The Subject
operates from premises at the verified heading address
consisting of a showroom, warehouse and administrative
office.
Branches : None reported.
Gross Domestic
Products (GDP) & Economic Overview
Central bank :
Reserve
Bank of Australia
Reserve of
foreign exchange & gold : US$
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
(General
Government gross debt as
a % GDP) :
2010: 20.4%
2011: 22.9%
2012: 24%
Government
bond ratings : Standard
& Poor's: AAA
Moody's rating: Aaa
Moody's outlook: STA
Market value
of publicly traded shares :
US$1.198 trillion
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)
Trade &
Competitiveness Overview
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)
Country and
Population Overview
Total
population : 22.68
million
Total area : 7,692,024
km2
Capital : Canberra
Currency : Australian
dollars (AUD)
Internet users
as % of total population : 79%
Purchase Term
International
: Prepayment,
Telegraphic transfer, Credit 30-90 days
Sales Term
Local : Cash,
Credit card, Prepayment, Credit 30-60 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.60.34 |
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UK Pound |
1 |
Rs.90.79 |
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Euro |
1 |
Rs.77.81 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.