MIRA INFORM REPORT
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Report Date : |
08.07.2013 |
IDENTIFICATION DETAILS
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Name : |
DOEN PACIFIC PTY LTD |
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Registered Office : |
33 Venture
Way, Braeside, Victoria, Zip/postal code 3195 |
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Country : |
Australia |
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Date of Incorporation : |
20.01.2003 |
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Com. Reg. No.: |
103431429 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Design,
manufacturing and distribution of water jet propulsion systems |
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No. of Employees : |
20 |
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 :
DOEN PACIFIC PTY LTD
Business
address : 33 Venture Way
Town : Braeside
Province : Victoria
Zip/postal
code : 3195
Country : Australia
Tel : +61 3 95873944
Fax : +61 3 95873179
Email : info@doen.com
Website : www.doen.com
Registered
address : 33 Venture Way
Town : Braeside
Province : Victoria
Zip/postal
code : 3195
Country : Australia
Executive Summary
Date founded
or registered : 20/01/2003
Legal form : Australian Proprietary
Company
Chief
executive : Mark
Dominic Peters
Issued &
paid up capital : AUD 4
Sales turnover
: AUD 7,000,000
(Estimated Non-Consolidated 12 months, 30/06/2012)
Line of
business : Design,
manufacturing and distribution of water jet propulsion systems.
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 : 20/01/2003
Legal form : Australian
Proprietary Company
Registration
no Australian
Company Number:103431429
Registered
authority : Australian
Securities and Investments Commission
Fiscal/ Tax no
: Australian
Business Number: 84103431429
Registry
status : Live/Active
Previous name
: None reported.
Change of
legal form : None reported.
Key Management
Name : Mark
Dominic Peters
Designation : Managing Director
Appointments
Name : Mark Dominic Peters
Designation : Director and Company Secretary
Appointment
date : 20/01/03
Address : 9 Scotsburn Grove
Toorak, VIC 3142
Australia
Biography : Born on 06-10-1949 in
Melbourne, Victoria, Australia.
Name : Frank Udvary
Designation : Director
Appointment
date : 20/01/03
Address : 3 Tennyson Street
Sandringham, VIC 3191
Australia
Biography : Born on 04-05-1943 in
Budapest, Hungary.
Name : Michael Richard
Lonergan
Designation : Director
Appointment
date : 20/01/03
Address : 76 The Esplanade
Brighton, VIC 3186
Australia
Biography : Born on 25-11-1948 in
Melbourne, Victoria, Australia.
Name : Timothy Peter Udvary
Designation : Director
Appointment
date : 20/01/03
Address : 56 Downshire Road
Elsternwick, VIC 3185
Australia
Biography : Born on 06-07-1967 in
Melbourne, Victoria, Australia.
Staff employed
: 20 employees
Composition
Authorized
Capital : AUD 4
No of shares : 4 Ordinary Shares
Share par
value : AUD 1
Issued capital
: AUD 4
Paid up capital : AUD
4
How listed : Full List
Composition
Shareholder
name : PACIFIC JETS PTY.
LTD.
Address : 33 Venture Way
Braeside, VIC 3195
Australia
No. of shares
: 2 Ordinary
Shares
% of shares : 50%
Shareholder
name : DOEN MARINE PTY.
LTD.
Address : 33 Venture Way
Braeside, VIC 3195
Australia
No. of shares
: 2 Ordinary
Shares
% of shares : 50%
RELATED COMPANIES & CORPORATE
Structure
Name : PACIFIC
JETS PTY. LTD.
Affiliation
type : Shareholder
Address : 33 Venture Way
Braeside, VIC 3195
Australia
Name : DOEN MARINE PTY. LTD.
Affiliation
type : Shareholder
Address 33 Venture Way
Braeside, VIC 3195
Australia
Name : DOEN PACIFIC (VIC) PTY
LTD
Affiliation
type : Associate
Address : 33 Venture Way
Braeside, VIC 3195
Australia
Name : DOEN PACIFIC HOLDINGS
PTY LTD
Affiliation
type : Associate
Address : 33 Venture Way
Braeside, VIC 3195
Australia
Bank Details
Name of bank :
National Australia
Bank Limited
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 1.09 as of 04-07-2013
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 : 7,000,000
Comments : The representative
contacted Mr. Michael Richard Lonergan 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 design, manufacturing and distribution of water jet
propulsion systems.
Product & services
: Water jet Propulsion
Systems
Brand : DOEN
Purchases
Local : Yes
International
: Mainly from
United States, Europe
Sales
Local : Yes
International
: Asia, Europe,
North America, South America, Middle East
Key events : 29 October, 2012
Doen Pacific Trade and Technical Press Release
Doen Pacific as one of only 5 marine waterjet manufacturers in the
world
matching engines to 4,000kW, and CSIC, one of the two largest
shipbuilding conglomerates in China, together with its Member
WMMP,
have jointly signed a license agreement for the manufacture and
sale of
WMMP DOEN Waterjets in China.
The signing ceremony took place on October 29, in Wuhan, China,
and
was attended by representatives of each company, headed by Mr. He
Jiwu,
Board Chairman and President Wuhan Marine Machinery Plant; Mr. Wu
Jing, Vice Executive General Manager China Shipbuilding &
Offshore
International Co. Ltd, as the Technology Import channel for CSIC;
Mr. Mark
Peters, Director Doen Pacific Pty. Ltd; and Mr. Timothy Udvary,
Director
and Chief Engineer Doen Pacific Pty. Ltd.
"China's burgeoning growth in shipbuilding capacity during
recent years
has stimulated the rapid development of the marine diesel engine
market,
and in turn the requirement for waterjet ropulsion. Doen Pacific
are
delighted to have formed this strategic partnership with CSIC and
WMMP,
and have every confidence this agreement will enhance Doen's
presence
in this region," said Mr. Peters.
The local manufacturing of the Doen Waterjet range is a key
element in this
joint strategy, and with WMMP having state of the art
manufacturing,
testing, and workshop facilities in Wuhan makes them an ideal
partner for
Doen Pacific in targeting the Chinese waterjet market, and
complements
their existing propulsion products.
"I am very confident this partnership is the right choice for
both parties, and
the CSIC Group looks forward to adding the Waterjet to the range
of
propulsion products currently manufactured by WMMP," said Mr.
He Jiwu.
Doen's latest range of 13 waterjet models, covering 100kW to
4,000kW will
be manufactured and branded WMMP DOEN in China, and the Director's
decision to license its waterjet technology is a landmark
decision.
The roll out of this Indigenous waterjet program in China will
help negate
the total reliance upon imported products. One thing is certain,
as prices
are reduced for waterjets the market will greatly expand. Doen
expects the
first waterjets to be produced in the coming months.
Source: www.doen.com
Property &
Assets
Premises : The Subject
operates from premises at the verified heading address
consisting of a production facility, 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
Local : Bank
transfer, D/P, Credit 30-90 days
International
: L/C,
Telegraphic transfer, D/P, Credit 30-90 days
Sales Term
Local : Bank
transfer, D/P, Credit 30-90 days
International
: L/C,
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.60.34 |
|
UK Pound |
1 |
Rs.90.79 |
|
Euro |
1 |
Rs.77.81 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
|
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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.