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Report Date : |
17.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
TVSN CHANNEL PTY
LTD |
|
|
|
|
Registered Office : |
431 Warringah
Road Frenchs Forest New South Wales 2086 |
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|
|
|
Country : |
Australia |
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|
|
|
Financials (as on) : |
30.06.2011 [We have checked with the official registry, as off today there is no
latest financial information filed by the subject. (17.06.2013)] |
|
|
|
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Date of Incorporation : |
15.11.2004 |
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Com. Reg. No.: |
111806958 |
|
|
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Legal Form : |
Australian
Proprietary Company |
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|
|
|
Line of Business : |
Retail of products via Television and online store. |
|
|
|
|
No. of Employees : |
148 employees |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow |
|
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
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
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 also has a large services sector and is a significant exporter of natural resources, energy, and food. Key tenets of Australia''s trade policy include support for open trade and the successful culmination of the Doha Round of multilateral trade negotiations, particularly for agriculture and services. The Australian economy grew for 17 consecutive years before the global financial crisis. Subsequently, the former RUDD government introduced a fiscal stimulus package worth over US$50 billion to offset the effect of the slowing world economy, while the Reserve Bank of Australia cut interest rates to historic lows. These policies - and continued demand for commodities, especially from China - helped the Australian economy rebound after just one quarter of negative growth. The economy grew by 1.4% during 2009 - the best performance in the OECD - by 2.7% in 2010, and by 1.8% in 2011. Unemployment, originally expected to reach 8-10%, peaked at 5.7% in late 2009 and fell to 5.0% in 2011. As a result of an improved economy, the budget deficit is expected to peak below 4.2% of GDP and the government could return to budget surpluses as early as 2015. Australia was one of the first advanced economies to raise interest rates, with seven rate hikes between October 2009 and November 2010. The GILLARD government is focused on raising Australia''s economic productivity to ensure the sustainability of growth, and continues to manage the symbiotic, but sometimes tense, economic relationship with China. Australia is engaged in the Trans-Pacific Partnership talks and ongoing free trade agreement negotiations with China, Japan, and Korea.
Source
: CIA
Verified Address
Subject name : TVSN CHANNEL PTY LTD
Business address :
431 Warringah Road
Town : Frenchs Forest
Province : New South Wales
Zip/postal code : 2086
Country : Australia
Tel : +61 2 81986000
Fax : +61 2 81986012
Website : www.itvsn.com.au
Registered address
: 431 Warringah Road
Town : Frenchs Forest
Province : New South Wales
Zip/postal code : 2086
Country : Australia
Postal address : Locked Bag 5012
Town : Frenchs Forest
Province : New South Wales
Zip/postal code : 2086
Country : Australia
Executive Summary
Date founded or
registered : 15/11/2004
Legal form : Australian
Proprietary Company
Chief executive : Christopher Robert Shaw
Issued & paid
up capital : AUD 11,765
Sales turnover : AUD 74,049,913 (Non-consolidated 12
months, 30/06/2011)
Net income : AUD 4,185,092
(Non-consolidated 12 months, 30/06/2011)
Total fixed assets
: AUD 22,191,756
(Non-consolidated 12 months, 30/06/2011)
Line of business :
Retail of products
via Television and online store.
Staff employed : 148 employees
Company Analysis
Country risk : Country risk is
minimal
Operation trend : Operational trend is
declining
Management
experience : Management is
modestly experienced
Financial
performance : Financial
performance is recovering
Organization
structure : Organizational
structure is acceptable
Detrimental : Some detrimental records found
Payment history : No payment delays noted
Comments : It is
advisable to conduct business dealing on prepayment or L/C basis due to the
Subject's recent
date of establishment.
Registry Data
Registration date
: 15/11/2004
Legal form : Australian Proprietary Company
Registration no Australian Company Number:
111806958
Registered
authority : Australian Securities and
Investments Commission
Fiscal/ Tax no : Australian Business Number:
96111806958
Registry status : Live/Active
Previous name : None reported.
Change of legal
form : None reported.
Key Management
Name : Christopher Robert Shaw
Designation : Managing Director
Name : Sinay Dionne
Designation : General Manager
Appointments
Name : Christopher Robert Shaw
Designation : Director
Appointment date :
17/11/04
Address : 73 Muston Street
Mosman, NSW 2088
Australia
Biography : Born on 29-01-1949 in Durban, South
Africa.
Name : Steven John Hodgson
Designation :
Company Secretary
Appointment date :
17/11/04
Address : 19 Baringa Road
Northbridge, NSW 2063
Australia
Biography : Born on 11-11-1963 in York, United
Kingdom.
Name : Robert Thane Ewing
Designation :
Company Secretary
Appointment date :
08/03/05
Address : Unit 3, 107 Badajoz Road
North Ryde, NSW 2113
Australia
Biography : Born on 05-10-1938 in Sydney, New South
Wales, Australia.
Staff employed :
148 employees
Key Advisors
Auditors : ERNST & YOUNG
Ernst & Young Centre
680 George Street
Sydney, NSW 2000
Australia
Composition
Authorized Capital
: AUD 11,765
No of shares : 11,765 Ordinary Shares
Share par value : AUD 1
Issued capital : AUD 11,765
Paid up capital : AUD 11,765
How listed : Full
List
Composition
Shareholder name :
DIRECT GROUP PTY LIMITED
Address : 431 Warringah Road
Frenchs Forest, NSW 2086
Australia
No. of shares : 11,765 Ordinary Shares
% of shares : 100%
Structure
Name : DIRECT GROUP PTY
LIMITED
Affiliation type :
Parent Company
Address : 431 Warringah Road
Frenchs Forest, NSW 2086
Australia
Comments : Direct
Group Pty Ltd is a holding company comprising 3 businesses - Direct
Marketing, Direct
Selling and Direct Television. The company owns TVSN and
Expo Channel in Australia,
along with a range of other related business.
Name : ENTERTAINMENT MASTERS
PTY LIMITED
Affiliation type :
Sister Company
Address : 431 Warringah Road
Frenchs Forest, NSW 2086
Australia
Name : INNOVATIONS DIRECT PTY.
LIMITED
Affiliation type :
Sister Company
Address : 431 Warringah Road
Frenchs Forest, NSW 2086
Australia
Name : GAIAM PTY LIMITED
Affiliation type :
Sister Company
Address : 431 Warringah Road
Frenchs Forest, NSW 2086
Australia
Name : DAMART AUSTRALIA PTY
LIMITED
Affiliation type :
Sister Company
Address : 431 Warringah Road
Frenchs Forest, NSW 2086
Australia
Bank Details
Name of bank : Commonwealth Bank of 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 : Commercial
Registry Filings
Financial statement
date : 30/06/11
Type of accounts :
Full audited
Currency : Australia Dollar
(AUD)
Exchange rate : 1 USD = AUD 0.97 as of
22-02-2013
Summarized Financial Information
Consolidation type
: Non
Consolidated Non
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 : 74,049,913 70,249,991
Gross profit : 28,224,031
24,843,633
Profit before tax
:
3,362,629 2,695,361
Net income : 4,185,092
2,695,361
Non current assets
: 8,256,627 7,458,288
Current assets : 13,935,129 13,897,585
Inventories : 5,898,534
5,810,656
Total assets : 22,191,756
21,355,873
Current
liabilities : 21,448,162
24,412,871
Non current
liabilities : 914,365 1,298,865
Total liabilities
: 22,362,527 25,711,736
Share equity :
-170,771
-4,355,863
Retained earning :
-182,536 -4,367,628
[We have checked with the official registry, as off
today there is no latest financial information filed by the subject.
(17.06.2013)]
Main activities : The Subject engages in retail of products via
television (Channel 176) and
online store.
The Subject is Australia’s only 24 hour shopping channel. TVSN reaches
over 1.5 million homes across Australia. The channel produces over 60
hours of original live Australian content per week. Subject also offers
shopping via its website and catalogues (www.tvsn.com.au is Australia’s
largest retail transactional website of it’s type).
The Subject is a wholly owned subsidiary of Direct Group Pty Ltd.
Direct Group Pty Ltd is a holding company comprising 3 businesses -
Direct Marketing, Direct Selling and Direct Television.
Direct Marketing
The Group’s original business unit, Innovations, has since expanded to
include an additional five brands - Damart, Fox Collection, Victoria
Hill,
Entertainment Masters and Gaiam. Each brand offers unique product
ranges servicing different customer demographics through their
Australian
and New Zealand websites supported by catalogues, emails, online
promotions and other marketing activities.
Direct Television
The TVSN and EXPO channels broadcast 24 hour shopping content on the
Foxtel, Austar and Optus subscription TV services in Australia, as well
as a
live stream to their in-house websites. TVSN provides live TV shopping,
showcasing a wide variety of merchandise in beauty, health, homewares,
jewellery, fashion and electrical. EXPO’s business model is to sell
airtime
to external Direct Response TV advertisers in 30 second, 4 minute and
half
hour formats.
Direct Selling
HomeCare works through a network of over 1,500 commissioned agents
distributing catalogues direct to households throughout Australia and
New
Zealand. Customer orders are entered by distributors online, allowing an
accurate mapping of the customer database to support future distributor
activity.
The Direct Group operates primarily in Australia and New Zealand,
specialising in home shopping.
Product &
services : Jewellery
Beauty products
Health products
Kitchenware
Electronic products
Homewares products
Textile
Purchases
International :
Asia, Europe, United States
Sales
Local : Yes
International : No
exports.
Property & Assets
Premises : The
Subject operates from head office located at the verified heading
address consisting
of administrative office.
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: 76.00%
Purchase Term
Local :
Prepayment, Bank transfer, Credit 30-90 days
International :
Prepayment, Telegraphic transfer, Credit 30-90 days
Sales Term
Local : Credit
card
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.57.74 |
|
|
1 |
Rs.90.64 |
|
Euro |
1 |
Rs.77.02 |
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.