|
Report Date : |
31.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
COMPOSITE MATERIALS ENGINEERING PTY. LTD. |
|
|
|
|
Registered Office : |
29 Stud Road, Bayswater Victoria 3153 |
|
|
|
|
Country : |
Australia |
|
|
|
|
Date of Incorporation : |
19.12.1988 |
|
|
|
|
Com. Reg. No.: |
007128289 |
|
|
|
|
Legal Form : |
Australian Proprietary Company |
|
|
|
|
Line of Business : |
Formulate, manufacture and compression mould long glass fiber composite materials. |
|
|
|
|
No. of Employees : |
50 employees |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
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 : COMPOSITE
MATERIALS ENGINEERING PTY. LTD.
Business address : Unit 1,
37 Hosie Street
Town : Bayswater
Province : Victoria
Zip/postal code : 3153
Country : Australia
Tel : +61
3 97294999
Fax : +61
3 97295197
Email : cme@composite.com.au
Website : www.composite.com.au
Registered address : 29 Stud
Road
Town : Bayswater
Province : Victoria
Zip/postal code : 3153
Country : Australia
Executive Summary
Date founded or registered : 19/12/1988
Legal form : Australian
Proprietary Company
Chief executive : Brian
Joseph Hughes
Issued & paid up capital : AUD
31,032
Line of business : Formulate,
manufacture and compression mould long glass fiber composite
materials.
Staff employed : 50
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 : 19/12/1988
Legal form : Australian
Proprietary Company
Registration no Australian Company Number: 007128289
Registered authority : Australian
Securities and Investments Commission
Fiscal/ Tax no : Australian Business Number: 23007128289
Registry status : Live/Active
Previous name : 321ST
P. & C. NOMINEES PTY. LTD. (initial)
Change of legal form : None
reported.
Key Management
Name : Brian
Joseph Hughes
Designation : Managing
Director
Name : Michael
Lewis
Designation : General
Manager
Appointments
Name : Brian
Joseph Hughes
Designation : Director
and Company Secretary
Appointment date : 14/03/89
Address : 2
Williamson Avenue
Strathmore, VIC 3041
Australia
Biography : Born
on 28-10-1957 in Kyneton, Victoria, Australia.
Staff employed : 50
employees
Composition
Authorized Capital : AUD
31,032
No of shares : 10 A
Class Ordinary Shares / 10 B Class Ordinary Shares / 10 C Class Ordinary
Shares / 31,002
Ordinary Shares
Share par value : AUD 1
Issued capital : AUD
31,032
Paid up capital : AUD
31,032
How listed : Full List
Composition
Shareholder name : WILLIAMSON
HUGHES PTY. LTD.
Address : 2
Williamson Avenue
Strathmore, VIC 3041
Australia
No. of shares : 10 A
Class Ordinary Shares / 10 B Class Ordinary Shares / 10 C Class Ordinary
Shares / 31,002
Ordinary Shares
% of shares : 100%
Structure
Name : WILLIAMSON
HUGHES PTY. LTD.
Affiliation type : Parent Company
Address : 2 Williamson
Avenue
Strathmore, VIC 3041
Australia
Name : BARRINGTON ROOF
TILES PTY LTD
Affiliation type : Sister Company
Address : 29 Stud Road
Bayswater, VIC 3153
Australia
Name : CME COATINGS
PTY LTD
Affiliation type : Associate
Address : 15-17 Antonella
Court
Dandenong South,
VIC 3175
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
Comments : The representative contacted
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 $12.5 million, and
-The company and any entities it controls
have fewer than 50 employees at the end of the financial year.
Main activities : The Subject formulate, manufacture
and compression mould long glass fiber composite materials for the automotive, building
and construction, food processing, electrical, electronic and
telecommunications applications.
Product & services : Automotive
Industry
-Wheel tubs
-Under body noise shields
-Seat frames
-Battery trays
-Load floors
-Body panels
-Under engine covers
-Reinforcement beams
Building and Construction
-Roof tiles
-Shower bases
-Computer access flooring systems
-Exterior door panels
Food Processing
-Starch trays
-Storage and container systems
Electrical, Electronic and
Telecommunications Applications
-Enclosures
-Switchgear components
-Circuit boards
-Busbar support insulators
-Antenna ‘radomes’ or shrouds
-Insulating panels
Purchases
Local : Yes
International : Asia,
Europe
Sales
Local : Yes
International : Asia,
Europe
Property &
Assets
Premises : The Subject operates from
premises at the verified heading address consisting a production facility,
warehouse and administrative office.
Branches : In
addition, the Subject operates from branch office located at:
29 Stud Road
Bayswater, VIC 3153
Australia
Tel: +61 3 87204999
Fax: +61 3 97206870
Gross Domestic
Products (GDP) & Economic Overview
Central bank : Reserve
Bank of Australia
Reserve of foreign exchange & gold : US$ 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 : Prepayment, L/C,
D/P, Telegraphic transfer, Credit 30-90 days
Sales Term
Local : Prepayment,
D/P, Bank transfer, Credit 30-90 days
International : Prepayment, L/C,
D/P, 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.59.83 |
|
|
1 |
Rs.91.76 |
|
Euro |
1 |
Rs.79.33 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.