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Report Date : |
20.06.2013 |
IDENTIFICATION DETAILS
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Name : |
MIG PACKAGING PTY. LTD. |
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Formerly Known As : |
TALMINGEN PTY. LIMITED (initial) |
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Registered Office : |
256-258 Rex Road Campbellfield Victoria 3061 |
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Country : |
Australia |
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Date of Incorporation : |
18.06.1980 |
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Com. Reg. No.: |
005680188 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Provider of printing services and manufacturing of packaging boxes. |
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No. of Employees : |
15 employees |
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) |
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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 : MIG PACKAGING PTY. LTD.
Business address :
256-258 Rex Road
Town : Campbellfield
Province : Victoria
Zip/postal code : 3061
Country : Australia
Tel : +61 3 93053266
Fax : +61 3 93053174
Email : ian@migpackaging.com.au
Registered address
: 256-258 Rex Road
Town : Campbellfield
Province : Victoria
Zip/postal code : 3061
Country : Australia
Executive Summary
Date founded or
registered : 18/06/1980
Legal form : Australian
Proprietary Company
Chief executive : Ian John Gilligan
Issued & paid
up capital : AUD 2
Sales turnover : AUD 1,000,000 (Estimated
Non-Consolidated 12 months, 30/06/2012)
Line of business :
Provider of printing
services and manufacturing of packaging boxes.
Staff employed : 15 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 fair
Organization
structure : Organizational structure is stable
Detrimental : No detrimental found
Payment history : No payment delays noted
Registry Data
Registration date
: 18/06/1980
Legal form : Australian Proprietary Company
Registration no Australian Company Number:
005680188
Registered
authority : Australian Securities and
Investments Commission
Fiscal/ Tax no : Australian Business Number:
64005680188
Registry status : Live/Active
Previous name : TALMINGEN PTY. LIMITED (initial)
Change of legal
form : None reported.
Key Management
Name : Ian John Gilligan
Designation : Managing Director
Appointments
Name : Maree Gilligan
Designation : Director and Company Secretary
Appointment date :
18/06/80
Address : 6 Edward Street
Currie, TAS 7256
Australia
Biography : Born on 01-06-1950 in Melbourne,
Victoria, Australia.
Name : Ian John Gilligan
Designation : Director
Appointment date :
18/06/80
Address : 6 Edward Street
Currie, TAS 7256
Australia
Biography : Born on 11-03-1948 in Melbourne,
Victoria, Australia.
Staff employed :
15 employees
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 :
Maree Gilligan
Address : 6 Edward Street
Currie, TAS 7256
Australia
No. of shares : 1 Ordinary Share
% of shares : 50%
Shareholder name :
Ian John Gilligan
Address : 6 Edward Street
Currie, TAS 7256
Australia
No. of shares : 1 Ordinary Share
% of shares : 50%
Structure
Name : M.I.G. MANUFACTURING PTY. LTD.
Affiliation type :
Associate
Address : 256-258 Rex Road
Campbellfield, VIC 3061
Australia
Bank Details
Name of bank : National Australia Bank
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 1.08 as of
19-06-2013
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
: 12 months
Sale turnover /
Income : 1,000,000
Comments : The
estimated turnover was provided by Ms. Peta Hall.
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 $12.5 million, and
-The company and any entities it controls have fewer than 50 employees
at the
end of the financial year.
Main activities : The Subject engages as a provider
of printing services and manufacturing
of packaging boxes.
Purchases
Local : Yes
International : None reported.
Sales
Local : Yes
International : No exports.
Property & Assets
Premises : The Subject operates from
premises at the verified heading address
consisting of a printing and production facility, warehouse and
administrative office.
Branches : None reported.
Gross Domestic Products (GDP) & Economic
Overview
Central bank : Reserve
Bank of Australia
Reserve of foreign
exchange & gold : US$ 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%
Purchase Term
Local : Bank
transfer, Credit 30-90 days
Sales Term
Local : Bank
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.58.74 |
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|
1 |
Rs.91.99 |
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Euro |
1 |
Rs.78.70 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
|
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.