|
Report Date : |
11.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
ESR GROUP
HOLDINGS PTY LTD |
|
|
|
|
Registered Office : |
C/o TILBROOK RASHEED CHARTERED ACCOUNTANTS 13 Greenhill Road Wayville South Australia 5034 |
|
|
|
|
Country : |
Australia |
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|
|
|
Financials (as on) : |
30.06.2011 |
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|
|
|
Date of Incorporation : |
22.02.2005 |
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Com. Reg. No.: |
113065973 |
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|
|
Legal Form : |
Australian Proprietary Company |
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|
|
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Line of Business : |
Import, distribution and retail sales of home furnishings, renovation and building products. |
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|
|
|
No. of Employees : |
220 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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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
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, 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.
Source
: CIA
Verified Address
Subject name : ESR GROUP HOLDINGS PTY
LTD
Other style /
Business name : RECOLLECTIONS (EARLY SETTLER)
/ EARLY SETTLER
Business address :
164-168 Atlantic Drive
Town : Keysborough
Province : Victoria
Zip/postal code : 3173
Country : Australia
Tel : +61 3 97677700
Fax : +61 3
97677799
Website : www.earlysettler.com.au
Registered address
: C/o TILBROOK RASHEED
CHARTERED ACCOUNTANTS
13 Greenhill Road
Town : Wayville
Province : South Australia
Zip/postal code : 5034
Country : Australia
Comments : The provided
address 96 South Park Drive, Dandenong South, VIC 3175,
Australia is an old address of the Subject. The Subject moved to the
verified
address above since October 2011.
Executive Summary
Date founded or
registered : 22/02/2005
Legal form : Australian
Proprietary Company
Chief executive : Simon Anthony O'Mahoney
Issued & paid
up capital : AUD 14,295,824.33
Sales turnover : AUD 54,486,280
(Consolidated 12 months, 30/06/2011)
Net income : AUD 1,027,298
(Consolidated 12 months, 30/06/2011)
Total fixed assets
: AUD 21,764,240
(Consolidated 12 months, 30/06/2011)
Line of business :
Import, distribution
and retail sales of home furnishings, renovation and building
products.
Staff employed : 220 employees
Company Analysis
Country risk : Country risk is minimal
Operation trend : Operational trend is progressing
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
: 22/02/2005
Legal form : Australian Proprietary Company
Registration no Australian Company Number:
113065973
Registered authority
: Australian Securities and Investments
Commission
Fiscal/ Tax no : Australian Business Number:
73113065973
Registry status : Live/Active
Previous name : None reported.
Change of legal
form : None reported.
Other registration
: RECOLLECTIONS (EARLY SETTLER) is
a business name owned by the Subject
registered on 26/03/2012 under business registration no: BN98627515.
EARLY SETTLER is a business name owned by the Subject registered on
26/03/2012 under business registration no: BN98627517.
Key Management
Name : Simon Anthony O'Mahoney
Designation : Managing Director
Appointments
Name : Stephen Charles Alton Stone
Designation : Director
Appointment date :
22/02/05
Address : C/o ESR GROUP HOLDINGS PTY LTD
207-215 Grote Street
Adelaide, SA 5000
Australia
Biography : Born on 04-11-1958 in Adelaide, South
Australia, Australia.
Name : Stephen Charles Stuart Watts
Designation : Director and Company Secretary
Appointment date :
22/02/05
Address : 21 Wright Road
Crafers, SA 5152
Australia
Biography : Born on 09-04-1967 in Winnipeg, Canada.
Name : Simon Anthony O'Mahoney
Designation : Director
Appointment date :
07/03/05
Address : 37 Bradford Road
Mount Martha, VIC 3934
Australia
Biography : Born on 26-07-1970 in Melbourne, Victoria,
Australia.
Staff employed :
220 employees
Key Advisors
Auditors : ACCRU HARRIS ORCHARD
172 Fullarton Road
Dulwich, SA 5065
Australia
Composition
Authorized Capital
: AUD 14,295,824.33
No of shares : 14,840 Ordinary Shares
Share par value : No par value
Issued capital : AUD 14,295,824.33
Paid up capital : AUD 14,295,824.33
How listed : Full List
Composition
Shareholder name :
JUSTGUILD PTY. LTD.
Address : C/o TILBROOK RASHEED
CHARTERED ACCOUNTANTS
13 Greenhill Road
Wayville, SA 5034
Australia
No. of shares : 4,783 Ordinary Shares
Shareholder name :
Stephen Charles Alton Stone
Address : C/o ESR GROUP HOLDINGS PTY
LTD
207-215 Grote Street
Adelaide, SA 5000
Australia
No. of shares : 6,329 Ordinary Shares
Shareholder name :
Bernard Grant Mundy
Address : Unit 1, 59 The Esplanade
South Perth, WA 6151
Australia
No. of shares : 354 Ordinary Shares
Shareholder name :
Simon Anthony O'Mahoney
Address : 37 Bradford Road
Mount Martha, VIC 3934
Australia
No. of shares : 1,074 Ordinary Shares
Shareholder name :
Timothy Keith Copas
Address : 52 Commercial Road
Hyde Park, SA 5061
Australia
No. of shares : 2,300 Ordinary Shares
Structure
Name : JUSTGUILD PTY. LTD.
Affiliation type :
Shareholder
Address : C/o TILBROOK RASHEED CHARTERED
ACCOUNTANTS
13 Greenhill Road
Wayville, SA 5034
Australia
Name : PRIMELAND PTY. LTD.
Affiliation type :
Subsidiary
Address : 164-168 Atlantic Drive
Keysborough, VIC 3173
Australia
Name : ESR GROUP (NZ) LIMITED
Affiliation type :
Associate
Address : 40 Richard Pearse Drive
Mangere, Manukau 2022
New Zealand
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.
Description
Source of
financial statement : Commercial
Registry Filings
Financial
statement date : 30/06/11
Type of accounts :
Full audited
Currency : Australia
Dollar (AUD)
Exchange rate : 1
USD = AUD 1.09 as of 09-07-2013
Summarized Financial Information
Consolidation type
: Consolidated Consolidated
Currency : Australia Dollar
(AUD) Australia Dollar (AUD)
Denomination : (x1) One (x1) One
Date of financial
year end : 30/06/11 30/06/10
Length of accounts
: 12 months 12 months
Sale turnover /
Income : 54,486,280 48,799,219
Profit before tax
: 1,339,353 1,757,337
Net income : 1,027,298 1,388,513
Non current assets
: 5,858,249 4,674,652
Current assets : 15,905,991 14,299,598
Inventories : 12,502,802 11,809,541
Total assets : 21,764,240 18,974,250
Current
liabilities : 9,528,362
9,518,302
Non current
liabilities : 4,149,649 2,221,032
Total liabilities
: 13,678,011
11,739,334
Share equity : 8,086,229 7,234,916
Retained earning :
-6,019,487 -6,872,259
Comments : The consolidated financial information
above relates to the Subject and its
subsidiary.
Main activities : The Subject engages in
import, distribution and retail sales of home
furnishings, renovation and building products.
The Subject operates through 27 RECOLLECTIONS (EARLY SETTLER)
and EARLY SETTLER stores located across Australia.
The Subject provides an extensive range of furniture, homewares and
interior design accessories through its stores.
Product & services : - Timber furniture
- Homewares: Kitchen cabinets, dining room furniture, lounge room
furniture, bedroom furniture, home office furniture, outdoors and garden
furniture, tables and chairs etc
- Domestic lighting
- Bathroom products: mirrors, bench tops, bathtubs, tapware, basins,
bathroom accessories etc
- Architectural hardware
- Home renovation and building products
Brand : RECOLLECTIONS (EARLY SETTLER)
EARLY SETTLER
Purchases
International : Mainly from Asia
Sales
Local : Yes
International : New Zealand
Property & Assets
Premises : The Subject operates from
premises at the verified heading address
consisting of a warehouse and administrative office.
Branches : In addition, the Subject operates through 27 RECOLLECTIONS
(EARLY
SETTLER) and EARLY SETTLER stores located across Australia.
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, Credit 30-90 days
International : L/C, Telegraphic transfer, Credit 30-90 days
Sales Term
Local : Cash, Credit card
International : 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.60.13 |
|
|
1 |
Rs.89.52 |
|
Euro |
1 |
Rs.76.89 |
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.