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Report Date : |
03.06.2013 |
IDENTIFICATION DETAILS
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Name : |
AC SOLAR WAREHOUSE PTY LTD |
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Registered Office : |
C/o WEDRAT CHARTERED ACCOUNTANTS, Unit 7, 15-17 Pease Street
Manunda Queensland 4870 |
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Country : |
Australia |
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Date of Incorporation : |
10.10.2011 |
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Com. Reg. No.: |
153655353 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Wholesalers of AC (Alternating current) solar power and
micro-inverter systems. |
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No. of Employees : |
5 employees including directors |
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
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Australia |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
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 : AC
SOLAR WAREHOUSE PTY LTD
Other style / Business name : AC SOLAR WAREHOUSE
Business address : Unit
9, 4 Tingira Street
Town : Cairns
Province : Queensland
Zip/postal code : 4870
Country : Australia
Tel : +61 7 40356646
Fax : +61
7 56361009
Email : info@acsolarwarehouse.com
Website :
www.acsolarwarehouse.com
Registered address : C/o
WEDRAT CHARTERED ACCOUNTANTS
Unit
7, 15-17 Pease Street
Town : Manunda
Province : Queensland
Zip/postal code : 4870
Country : Australia
Postal address : P.O.
Box 408
Town : Cairns
Province : Queensland
Zip/postal code : 4870
Country : Australia
Executive
Summary
Date founded or registered : 10/10/2011
Legal form : Australian
Proprietary Company
Chief executive : Grant
Charles Behrendorff
Issued & paid up capital : AUD 2
Sales turnover : AUD
200,000 (Estimated Non-Consolidated 9 months, 30/06/2012)
Line of business : Wholesalers
of AC (Alternating current) solar power and micro-inverter systems.
Staff employed : 5
employees including directors
Company
Analysis
Country risk : Country
risk is minimal
Operation trend : Operational
trend is in start-up phase
Management experience : Management
is modestly experienced
Financial performance :
Financial performance is
recovering
Organization structure : Organizational
structure is acceptable
Detrimental : No detrimental found
Payment history : No
payment delays noted
Registry
Data
Registration date : 10/10/2011
Legal form : Australian
Proprietary Company
Registration no Australian Company Number: 153655353
Registered authority : Australian
Securities and Investments Commission
Fiscal/ Tax no : Australian Business Number: 45153655353
Registry status : Live/Active
Previous name : None
reported.
Change of legal form : None
reported.
Other
registration : AC
SOLAR WAREHOUSE is a business name owned by the Subject registered on
19/12/2011 under business registration no: BN22291982.
Comments : The
Subject started commercial trading in March 2012.
Key
Management
Name : Grant
Charles Behrendorff
Designation : Managing
Director
Appointments
Name : Grant
Charles Behrendorff
Designation : Director
Appointment date : 10/10/11
Address : 3
Nell Close
Kanimbla, QLD 4870
Australia
Biography : Born
on 29/01/1967 in Townsville, Queensland, Australia.
Name : David
McDonald Smyth
Designation : Director
and Company Secretary
Appointment date : 10/10/11
Address : 7
Fitch Court
Stratford, QLD 4870
Australia
Biography : Born
on 02/03/1966 in Cairns, Queensland, Australia.
Staff employed : 5
employees including directors
Composition
Authorized Capital : AUD
2
No of shares : 2
Ordinary Shares
Share par value : AUD
1
Issued capital : AUD
2
Paid up capital : AUD
2
How listed : Full
List
Composition
Shareholder name : Toni
Behrendorff
Address : 3
Nell Close
Kanimbla, QLD 4870
Australia
No. of shares : 1
Ordinary Share
% of shares : 50%
Shareholder name : FRESH
SOLUTIONS PTY LTD
Address : C/o
WEDRAT CHARTERED ACCOUNTANTS
Unit 7, 15-17 Pease Street
Manunda, QLD 4870
Australia
No. of shares : 1
Ordinary Share
% of shares : 50%
Structure
Name : ENERGY
INNOVATIONS PTY LTD
Affiliation type : Associate
Address : Unit
9, 4 Tingira Street
Cairns, QLD 4870
Australia
Bank
Details
Name of bank : Bank
of Queensland
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 : Provided by the Subject
Financial statement date : 30/06/12
Type of accounts : Estimated
key figures
Currency : Australia
Dollar (AUD)
Exchange rate : 1
USD = AUD 1.04 as of 31-05-2013
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 : 9
months
Sale turnover / Income : 200,000
Comments
: The estimated
turnover was provided by Mr. Grant Charles Behrendorff. He further advised that
the Subject’s projected sales turnover for financial year end 30-06-2013 is AUD 2 million.
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 $12.5 million, and
-The company and any entities it
controls have fewer than 50 employees at the
end of the financial year.
Main
activities : The
Subject engages as wholesalers of AC (Alternating current) solar power and
micro-inverter systems.
The
Subject also offers engineering, technical, sales and after sales support.
Product & services : AC
Solar systems
Microinverters
Purchases
International : Taiwan,
China, United States, Thailand
Sales
Local : Yes
International : No
exports.
Property
& Assets
Premises
: The Subject
operates from premises at the verified heading address consisting of a
administrative office, warehouse and showroom.
Branches : None
reported.
Gross
Domestic Products (GDP) & Economic Overview
Central bank : Reserve
Bank of Australia
Reserve of foreign exchange & gold : US$ 43.879 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 : 2009:
1.8%
2010: 2.8%
2011: 3.4%
Unemployment rate : 2009:
5.6%
2010: 5.2%
2011: 5.1%
Public debt
(General Government gross debt as
a % GDP): 2009:
16.9%
2010: 20.4%
2011: 22.9%
Government bond ratings : Standard
& Poor's: AAA/Stable/A-1+
Moody's rating: Aaa
Moody's outlook: STA
Market value of publicly traded
shares: US$1.258
trillion
Largest
companies in the country : Commonwealth
Bank (Banking), BHP Billiton (Materials), Westpac Banking Group (Banking), Rio
Tinto (Materials), National Australia Bank (Banking), ANZ Banking (Banking),
Telstra (Telecommunications)
Trade
& Competitiveness Overview
Total exports : US$210.7
billion
Exports commodities : Coal,
iron ore, gold, meat, wool, alumina, wheat
Total imports : US$187.2
billion
Imports
commodities : Machinery
and transport equipment, computers and office machines, telecommunication
equipment and parts, crude oil and petroleum products
Export - major partners : Japan
18.9%, China 14.2%, South Korea 8%, US 6%, NZ 5.6%, India
5.5%,
UK 4.2%
Import - major partners : China
15.5%, US 12.8%, Japan 9.6%, Singapore 5.6%, Germany 5.2%,
UK
4.3%, Thailand 4.2%
FDI Inflows : 2008:
US$46,843 million
2009: US$25,716 million
2010: US$32,472 million
FDI Outflows : 2008:
US$33,604 million
2009: US$16,160 million
2010: US$26,431 million
Best countries for doing business : 10 out of 183 countries
Global competitiveness ranking : 20 (ranking by country on a basis of 142, the first is the
best)
Country
and Population Overview
Total population : 22.23
million
Total area : 7,692,024
km2
Capital : Canberra
Currency : Australian
dollars (AUD)
Internet users as % of total
population: 76%
Purchase
Term
International : Prepayment,
Telegraphic transfer, Credit 30 days
Sales
Term
Local : Prepayment,
Cash, Bank transfer, Credit 30 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 basedon 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.56.49 |
|
|
1 |
Rs.86.81 |
|
Euro |
1 |
Rs.73.68 |
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 |
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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 |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
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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.