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Report Date : |
18.06.2013 |
IDENTIFICATION DETAILS
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Name : |
MULFORD PLASTICS PTY LTD |
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Registered Office : |
Unit 22, |
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Country : |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
10.10.1946 |
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Com. Reg. No.: |
000057170 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Manufacturing and wholesale distribution of plastic products such as plastic sheet and films. |
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No. of Employees : |
48 employees |
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 : MULFORD
PLASTICS PTY LTD
Other style / Business name : MULFORD
ENGINEERING PLASTICS
Business address : Unit
22, Slough Business Park
Holker Street
Town : Silverwater
Province : New
South Wales
Zip/postal code : 2128
Country : Australia
Tel : +61
2 99118111
Fax : +61
2 99118112
Email : info@mulford.com.au
Website : www.mulfordplastics.com
Registered address : Unit
22, Slough Business Park
Holker Street
Town : Silverwater
Province : New
South Wales
Zip/postal code : 2128
Country : Australia
Executive Summary
Date founded or registered : 10/10/1946
Legal form : Australian
Proprietary Company
Chief executive : Pericles
Pericleous
Issued & paid up capital : AUD
1,480,340
Sales turnover : AUD 33,118,380 (Non-consolidated 12
months, 31/12/2012)
Net income : AUD
-281,041 (Non-consolidated 12 months, 31/12/2012)
Total fixed assets : AUD
24,064,689 (Non-consolidated 12 months, 31/12/2012)
Line of business :
Manufacturing and
wholesale distribution of plastic products such as plastic sheet and films.
Staff employed : 48 employees (Subject)
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 : 10/10/1946
Legal form : Australian
Proprietary Company
Registration no Australian Company Number: 000057170
Registered authority : Australian
Securities and Investments Commission
Fiscal/ Tax no : Australian Business Number: 86000057170
Registry status : Live/Active
Previous name : None
reported.
Change of legal form : None
reported.
Other registration
: MULFORD
ENGINEERING PLASTICS is a business name owned by the Subject registered on 18/04/2007
under business registration no: B2002582H.
Key Management
Name : Pericles
Pericleous
Designation : Managing
Director
Appointments
Name : Pericles
Pericleous
Designation : Director
and Company Secretary
Appointment date : 20/06/05
Address : 25
Agnes Street
Strathfield, NSW 2135
Australia
Biography : Born
on 11-02-1967 in Cyprus, Greece.
Name : Seg
Min Nga
Designation : Director
Appointment date : 04/03/05
Address : 42
Jalan Beran 1
Taman Tasek, Johor
Bahru
Johor Darul Takzim
Malaysia
Biography : Born
on 07-08-1961 in Johor, Malaysia
Name : Ian
Grant
Designation : Director
Appointment date :
29/11/10
Address : 158
Kaniere Place
Half Moon Bat, Auckland 2012
New Zealand
Biography : Born
on 06-07-1949 in Christchurch, New Zealand.
Staff employed : 48 employees (Subject)
Key Advisors
Auditors : WESTON
WOODLEY & ROBERTSON
Level 16 124-130 Pitt Street
Sydney, NSW 2000
Australia
Composition
Authorized Capital : AUD
1,480,340
No of shares : 740,170
Ordinary Shares
Share par value : AUD 2
Issued capital : AUD
1,480,340
Paid up capital : AUD
1,480,340
How listed : Full
List
Composition
Shareholder name : MULFORD
HOLDINGS PTY LTD
Address : Unit
22, Slough Business Park
Holker Street
Silverwater, NSW 2128
Australia
No. of shares : 740,170
Ordinary Shares
% of shares : 100%
Structure
Name : ROYALPLAST
INTERNATIONAL PTE LTD
Affiliation type : Ultimate
Holding Company
Address : Keck
Seng Tower
#16-01, 133 Cecil Street
Singapore 069535
Singapore
Comments : Distribution of plastic sheets and
high tech films and manufacturing of fiberglass products with operations
throughout Australia, New Zealand and Asia.
Name : MULFORD
INTERNATIONAL PTE LTD
Affiliation type : Intermediate
Holding Company
Address : 133
Cecil Street
#16-01 Keck Seng Tower
Singapore 069535
Singapore
Name : MULFORD
HOLDINGS PTY LTD
Affiliation type : Parent
Company
Address : Unit
22, Slough Business Park
Holker Street
Silverwater, NSW 2128
Australia
Comments : Mulford Holdings Pty Ltd is a
foreign owned proprietary company that acts as a holding company for the
Mulford Plastics business in Australia and New Zealand.
Mulford Plastics manufactures and
distributes plastic, fibreglass and roofing products and is part of the Mulford
International group of companies which operates across Australia, New Zealand
and Asia.
Name : MULFORD
PLASTICS (NZ) LIMITED
Affiliation type : Sister
Company
Address : 5
Arthur Brown Place
Mount Wellington, Auckland 1060
New Zealand
Name : PT.
MULFORD INDONESIA
Affiliation type : Sister
Company
Address : JI.
Raya Pegangsaan Dua No. 98A
Jakarta Utara
14250 Jakarta
Indonesia
Related companies and corporate affiliations comments : Other companies
of the Mulford Group should be
considered
affiliates of the Subject.
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
Source of financial statement : Commercial
Registry Filings
Financial statement date : 31/12/12
Type of accounts : Full
audited
Currency : Australia
Dollar (AUD)
Exchange rate : 1 USD = AUD 1.04 as of 18-06-2013
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 : 31/12/12
31/12/11
Length of accounts : 12
months 12
months
Profit before tax : -362,195
637,065
Net income : -281,041
433,385
Non current assets : 1,533,611
1,658,332
Current assets : 22,531,078 23,148,885
Inventories : 6,640,976
6,820,068
Total assets : 24,064,689
24,807,217
Current liabilities : 8,705,401
9,114,697
Non current liabilities : 4,872,466 4,924,657
Total liabilities : 13,577,867
14,039,354
Share equity : 10,486,822
10,767,863
Reserve : 541,781
541,781
Retained earning : 8,464,701
8,745,742
Main activities : The Subject engages in manufacturing
and wholesale distribution of plastic products such as plastic sheets and films
products used in building and construction, corporate signage, shop-fitting,
engineering, mass transportation, digital printing industries etc.
The Subject is ultimately
owned by Royalplast International Pte Ltd based in Singapore.
Royalplast International Pte Ltd engages in
distribution of plastic sheets and high tech films and manufacturing of
fiberglass products with operations throughout Australia, New Zealand and Asia.
Product & services : Acrylic
sheets
Aluminium Composite Panel
Fibreglass Roofing Products
High Impact Polystyrene
Polyethylene
Ralloy Pvc
Pvc Foam
Nylon
Foamboards
Environmental Boards
Tekra Polyester
Prismatic Lighting
Brand : MULFORD
Purchases
International : Mainly
from Asian countries
Sales
Local : Yes
International : Asia,
Oceania
Property &
Assets
Premises : The Subject operates from
premises located at the verified heading address consisting of production facilities,
warehouse and administrative office.
Branches : In
addition, the Subject operates from branches located at:
6 – 8 Pambula Street
Regency Park, South Australia 5010
Australia
Tel: +61 8 84449666
Fax:+61 8 84449600
Unit 5 / 65 Balham Road
Archerfield, Queensland 4108
Australia
Tel: +61 7 37174700
Fax:+61 7 37174777
303 Frankston-Dandenong Road
Dandenong South, Victoria 3175
Australia
Tel: +61 3 87918000
Fax:+61 3 87918088
30 Broadmeadow Rd
Broadmeadow, New South Wales 2292
Australia
Tel: +61 2 49408922
Fax:+61 2 49408362
145 Balcatta Road
Balcatta, Western Australia 6021
Australia
Tel: +61 8 92406655
Fax:+61 8 92408877
Other property : Total
NBV of property, plant and equipment as of 31-12-2012 was AUD 1,437,297.
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 : L/C,
Prepayment, Telegraphic transfer, Credit 30-90 days
Sales Term
Local : Prepayment, Bank transfer, Credit
30-90 days
International : L/C,
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.57.73 |
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|
1 |
Rs.90.61 |
|
Euro |
1 |
Rs.76.96 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
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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.