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Report Date : |
27.07.2013 |
IDENTIFICATION DETAILS
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Name : |
QUEENSLAND TOOL & MACHINERY DISTRIBUTORS
PTY. LTD. |
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Formerly Known as: |
STONEMERE PTY. LTD. |
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Registered Office : |
C/O Franich Crow Oberg, Suite B, Level 4, |
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Country : |
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Financials (as on) : |
30.09.2012 |
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Date of Incorporation : |
10.10.1985 |
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Com. Reg. No.: |
010602687 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Importers and distributors of hand tools, air tools
and automotive products |
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No. of Employees : |
10 |
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 – 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, 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 : QUEENSLAND TOOL & MACHINERY
DISTRIBUTORS PTY. LTD.
Business address : 21 Keller Crescent
Town : Carrara
Province : Queensland
Zip/postal code : 4211
Country : Australia
Tel : +61 7 55307066
Fax : +61 7 55307350
Email : sales@fragram.com
Website : www.fragram.com
Registered address : C/o FRANICH CROW OBERG
Suite B,
Level 4
52
Davenport Street
Town : Southport
Province : Queensland
Zip/postal code : 4215
Country : Australia
Postal address : P.O. Box 2160
Town : Nerang East
Province : Queensland
Zip/postal code : 4211
Country : Australia
Executive Summary
Date founded or registered : 10/10/1985
Legal form : Australian
Proprietary Company
Chief executive : Alan Conway Vacy-Lyle
Issued & paid up capital
: AUD 1,100,000
Sales turnover : USD 210,183,000 (Group-Consolidated
12 months, 30/09/2012)
Net income : USD 6,592,000
(Group-Consolidated 12 months, 30/09/2012)
Total fixed assets : USD 143,113,000
(Group-Consolidated 12 months, 30/09/2012)
Line of business : Importers and distributors
of hand tools, air tools and automotive products.
Staff employed : 10 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 good
Organization structure : Organizational
structure is stable
Detrimental : No detrimental found
Payment history : No payment delays noted
Registry Data
Registration date : 10/10/1985
Legal form : Australian Proprietary Company
Registration no Australian Company Number:
010602687
Registered authority : Australian Securities and Investments
Commission
Fiscal/ Tax no : Australian Business Number:
11010602687
Registry status : Live/Active
Previous name : STONEMERE PTY. LTD. (initial)
Change of legal form : None reported.
Key Management
Name : Alan Conway Vacy-Lyle
Designation : Managing Director
Name : Alan Foran
Designation : Sales Manager
Appointments
Name : Alan Conway Vacy-Lyle
Designation : Director and Company Secretary
Appointment date : 01/10/86
Address : Unit 1, 12 Handel Avenue
Worongary,
QLD 4213
Australia
Biography : Born on 01/05/1956 in Durban,
South Africa.
Name : Grant Vacy-Lyle
Designation : Director
Appointment date : 16/07/01
Address : 25 City Road
London
EC1Y 1AA
United
Kingdom
Biography : Born on 17-02-1960 in Durban,
South Africa.
Staff employed : 10 employees
Composition
Authorized Capital : AUD 1,100,000
No of shares : 1,100,000 Ordinary Shares
Share par value : AUD 1
Issued capital : AUD 1,100,000
Paid up capital : AUD 1,100,000
How listed : Full List
Composition
Shareholder name : MARSHALL MONTEAGLE PLC
Address : 15 Union Street
St. Helier
Jersey JE1
1FG
Channel
Islands
No. of shares : 550,001 Ordinary Shares
Shareholder name : Jointly held by John Jay Franich, Alan
Conway Vacy-Lyle & Gail Marion
Vacy-Lyle
Address : John Jay Franich
7 Surch
Court
Southport,
QLD 4215
Australia
Alan
Conway Vacy-Lyle & Gail Marion Vacy-Lyle
Unit 1, 12
Handel Avenue
Worongary,
QLD 4213
Australia
No. of shares : 549,999 Ordinary Shares
Structure
Name : MARSHALL MONTEAGLE PLC
Affiliation type : Parent Company
Address : 15 Union Street
St. Helier
Jersey JE1
1FG
Channel
Islands
Comments : Marshall
Monteagle PLC, through its subsidiaries, engages in the importation and
distribution of hand tools, machinery,
and non-perishable food products. It also
owns and manages multi-tenanted rent
producing properties in the United States
and South Africa; provides
consultancy and management, warehousing, and
other services; and is involved in
coffee roasting business. The company has
operations in Europe, Australia, the
United States, and South Africa. Marshall
Monteagle PLC, formerly known as
Marshall Monteagle Holdings SA, is based in
St. Helier, Channel Islands.
Name : SHANGHAI TOOL EXPORTS
CORPORATION LIMITED
Affiliation type : Sister Company
Address : 15 Union Street
St. Helier
Jersey JE1
1FG
Channel
Islands
Comments : Incorporated in Jersey and
operating internationally.
Name : L & G TOOL AND
MACHINERY DISTRIBUTORS LIMITED
Affiliation type : Sister Company
Address : 6 Kyalami Road
Westmead,
Pinetown, 3610
KwaZulu
Natal
South Africa
Comments : Import and distribution of hand
tools and machinery.
Name : QTM PROPERTY HOLDINGS
PTY LTD
Affiliation type : Sister Company
Address : 21 Keller Crescent
Carrara,
QLD 4211
Australia
Comments : Property holding.
Name : FRAGRAM TOOLS AUSTRALIA
PTY LTD
Affiliation type : Associate
Address : 21 Keller Crescent
Carrara,
QLD 4211
Australia
Related companies and corporate affiliations comments
Other companies of the
Monteagle Group should be considered affiliates of the Subject
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
Source of financial statement
: Public Record Sources
Financial statement date : 30/09/12
Type of accounts : Full audited
Currency : US
Dollar (USD)
Consolidation type : Group Consolidated
Group Consolidated
Currency : US
Dollar (USD) US
Dollar (USD)
Denomination : (x1) One (x1) One
Date of financial year end : 30/09/12 30/09/11
Length of accounts : 12 months 12 months
Sale turnover / Income : 210,183,000 196,391,000
Operating profit : 8,650,000 10,703,000
Profit before tax : 9,263,000 10,145,000
Net income 6,592,000 7,353,000
Non current assets : 57,562,000 57,677,000
Current assets : 85,551,000 72,132,000
Inventories : 28,249,000
25,521,000
Total assets : 143,113,000
129,809,000
Current liabilities : 47,829,000 43,380,000
Non current liabilities : 19,572,000 16,050,000
Total liabilities : 67,401,000 59,430,000
Share equity : 75,712,000
70,379,000
Retained earning : 28,859,000 26,422,000
Comments : The group’s consolidated
financial information above relates to the Subject’s
Parent /
Ultimate Holding Company Marshall Monteagle PLC and all its
subsidiaries
which include the Subject.
Main activities : The Subject engages as an importer
and distributor of hand tools, air tools
and automotive products.
The
Subject operates as a subsidiary of Marshall Monteagle PLC.
Marshall
Monteagle PLC, through its subsidiaries, engages in the
importation
and distribution of hand tools, machinery, and non-perishable
food
products. It also owns and manages multi-tenanted rent producing
properties
in the United States and South Africa; provides consultancy and
management,
warehousing, and other services; and is involved in coffee
roasting
business. The company has operations in Europe, Australia, the
United
States, and South Africa. Marshall Monteagle PLC, formerly known
as
Marshall Monteagle Holdings SA, is based in St. Helier, Channel
Islands.
Product & services :
· Tool Kits & Storage
Socket Sets & Accessories
Spanners & Spanner Sets
Pliers & Wrenches
Scewdrivers & Fastening
Drilling & Boring
Riveters
Cutting & Sawing products
Caulking Guns
Painting Equipment
Measuring Products
Automotive & Lifting products
Tube Cutters & Benders
Abrasives & Grinding products
Protective Shield
Padlocks & Staplers
Welding Equipment
Fragram Air Tools
Puma Air Tools
Brand
· PUMA
FRAGRAM
Purchases
International : China, Taiwan, South Africa, United States
Sales
Local : Yes
International : New Zealand
Property &
Assets
Premises : The Subject operates from premises at the
verified heading address
consisting
of a administrative office, retail store and warehouse.
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 &
aming), 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 : Prepayment, Cash, Bank
transfer, Credit 30-90 days
International : 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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.91 |
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UK Pound |
1 |
Rs.90.68 |
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Euro |
1 |
Rs.78.22 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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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 |
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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 |
|
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.