MIRA INFORM REPORT
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Report Date : |
10.07.2013 |
IDENTIFICATION DETAILS
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Name : |
LOWDON PTY LTD |
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Registered Office : |
C/O Bacchus Associates Pty Limited,
The Cooperage, Suite 9, Level 2, 56 Bowman Street, Pyrmont, New South Wales,
Zip/Postal Code 2009 |
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Country : |
Australia |
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Date of Incorporation : |
17.09.1981 |
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Com. Reg. No.: |
002266953 |
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Legal Form : |
Australian
Proprietary Company |
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Line of Business : |
Importer and
distributor of natural stone products and various types of tiles. |
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No. of Employees : |
09 |
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 :
LOWDON PTY LTD
Other style /
Business name : ARTISTIC STONE / STONE
AND TILES BARGAIN WAREHOUSE
Business
address : 99
Silverwater Road
Town : Silverwater
Province : New South Wales
Zip/postal
code : 2128
Country : Australia
Tel : +61 2
97486995
Fax : +61 2
96481901
Email : info@artisticstone.com.au
Website : www.artisticstone.com.au
Registered
address : C/O BACCHUS
ASSOCIATES PTY LIMITED
The Cooperage, Suite 9, Level 2
56 Bowman Street
Town : Pyrmont
Province : New South Wales
Zip/postal
code : 2009
Country : Australia
Executive Summary
Date founded
or registered : 17/09/1981
Legal form : Australian
Proprietary Company
Chief
executive : Peter
Maniscalco
Issued &
paid up capital : AUD 8
Line of
business : Import and
distribution of natural stone products and various types of tiles.
Staff employed
: 9 employees
Company Analysis
Country risk :
Country risk
is minimal
Operation
trend : Operational
trend is steady
Management
experience : Management is
adequately 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 : 17/09/1981
Legal form : Australian
Proprietary Company
Registration
no Australian
Company Number: 002266953
Registered
authority : Australian
Securities and Investments Commission
Fiscal/ Tax no
: Australian
Business Number: 91002266953
Registry
status : Live/Active
Previous name
: None reported.
Change of
legal form : None reported.
Other
registration : ARTISTIC
STONE is a business name owned by the Subject registered on
15/01/1998 under business registration no: U5165834.
STONE AND TILES BARGAIN WAREHOUSE is a business name owned by the
Subject registered on 26/09/2006 under business registration no:
BN98246411.
Key Management
Name : Peter Maniscalco
Designation : Managing Director
Appointments
Name : Peter Maniscalco
Designation : Director and Company Secretary
Appointment
date : 12/11/98
Address : 2 Francis Street
Hunters Hill, NSW 2110
Australia
Biography : Born on 22-10-1950 in
Poggioreale, Italy.
Staff employed
: 9 employees
Composition
Authorized
Capital : AUD 8
No of shares :
2 Class A Ordinary Shares /
2 Class C Ordinary Shares
Share par
value : AUD 2
Issued capital
: AUD 8
Paid up capital : AUD
8
How listed : Full List
Shareholder
name : Peter Maniscalco
Address : 2 Francis
Street
Hunters Hill, NSW 2110
Australia
No. of shares
: 1 Class A
Ordinary Share
Shareholder
name : Maria Maniscalco
Address : 2 Francis
Street
Hunters Hill, NSW 2110
Australia
No. of shares
: 1 Class A
Ordinary Share
Shareholder
name : Roberto
Maniscalco
Address : 7 Ingham Avenue
Five Dock, NSW 2046
Australia
No. of shares
: 1 Class C
Ordinary Share
Shareholder
name : Deborah Smith
Address : 2329 Ensenada
Way
San Mateo, CA 94403
United States
No. of shares
: 1 Class C Ordinary
Share
Structure
Name : ARTISTIC STONE PRIVATE
LIMITED
Affiliation
type : Associate
Address : India
Comments : Dormant.
Name : ARTISTIC STONE GALLERY,
INC.
Affiliation
type : Associate
Address : 3575 Haven Avenue
Menlo Park, CA 94025
United States
Comments : Import & distribution of
natural stone mosaics and various types of tiles.
Bank Details
Name of bank : Australia and New Zealand Banking
Group 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.
FINANCIAL DATA
Description
Comments : The representative contacted
Mr. Peter Maniscalco 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 $12.5 million,
and
-The company and any entities it controls have fewer than 50 employees
at the
end of the financial year.
Main
activities : The
Subject engages in import, retail sales and distribution of natural stone
products and various types of tiles.
Product & services :
· Natural stone mosaics
· Tiles: Glass, marble, mosaics, porcelain tiles
· Medallions
· Travertine
· Landscaping Stones
· Bathroom Sinks
· Bathtubs
· Pebbles
· Slate and marble mosaics
Brand :
Artistic Stone
Purchases
International
: China, Turkey, Indonesia
Sales
Local : Yes
International
: No exports.
Property &
Assets
Premises : The Subject operates from
premises at the verified heading address
consisting of a showroom, warehouse and administrative
office.
Branches : None reported.
Gross Domestic
Products (GDP) & Economic Overview
Central bank :
Reserve
Bank of Australia
Reserve of
foreign exchange & gold : US$
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, Prepayment, Bank
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.75 |
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UK Pound |
1 |
Rs.89.91 |
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Euro |
1 |
Rs.77.43 |
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.