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Report Date : |
26.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
SIMBA TOWELS PTY LTD |
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|
|
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Registered Office : |
C/o VAN DER ROSS & ASSOCIATES, Unit 1, 653-657 Mountain Highway,
Bayswater, Victoria 3153 |
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Country : |
Australia |
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|
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Date of Incorporation : |
11.04.2005 |
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Com. Reg. No.: |
113762959 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Import and distributor of towel and textile products for the promotional,
corporate, resort, healthcare and hospitality markets. |
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No. of Employees : |
7 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 |
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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 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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 : SIMBA
TOWELS PTY LTD
Business address : Bayswater
Business Park
Unit 12, 52 Corporate
Boulevard
Town : Bayswater
Province : Victoria
Zip/postal code : 3153
Country : Australia
Tel : +61
3 97294955
Fax : +61
3 97298669
Email : miles@simbatex.com.au
Website : www.simbatowels.com.au
Registered address : C/o VAN DER
ROSS & ASSOCIATES
Unit 1, 653-657
Mountain Highway
Town : Bayswater
Province : Victoria
Zip/postal code : 3153
Country : Australia
Postal address : P.O.
Box 713
Town : Bayswater
Province : Victoria
Zip/postal code : 3153
Country : Australia
Executive Summary
Date founded or registered : 11/04/2005
Legal form : Australian
Proprietary Company
Chief executive : Mary
Iles
Issued & paid up capital : AUD
100
Line of business : Import and distributor
of towel and textile products for the promotional, corporate, resort,
healthcare and hospitality markets.
Staff employed : 7
employees
Company Analysis
Country risk : Country
risk is minimal
Operation trend : Operational trend is steady
Management experience : Management
is reasonably experienced
Financial performance : Financial
performance is undetermined
Organisation structure : Organisational
structure is stable
Detrimental : No
detrimental found
Payment history : No
payment delays noted
Registry Data
Registration date : 11/04/2005
Legal form : Australian
Proprietary Company
Registration no Australian Company Number: 113762959
Registered authority :
Australian Securities and
Investments Commission
Fiscal/ Tax no : Australian
Business Number: 58113762959
Registry status : Live/Active
Previous name : None
reported.
Change of legal form : None
reported.
Key Management
Name : Mary
Iles
Designation : General
Manager
Appointments
Name : Anil
Harjivan Somaia
Designation : Director
and Company Secretary
Appointment date : 11/04/05
Address : 4
Lillypilly Lane
Kilsyth, VIC 3137
Australia
Biography : Born
on 09-01-1936 in Lushoto, Tanzania.
Name : Ashok
Harjivan Somaia
Designation : Director
and Company Secretary
Appointment date : 11/04/05
Address : 47
Kwinana Street
Glen Waverley, VIC 3150
Australia
Biography : Born
on 07-07-1947 in Tanga, Tanzania.
Name : Kamal
Anil Somaia
Designation : Director
and Company Secretary
Appointment date : 11/04/05
Address : 4
Lillypilly Lane
Kilsyth, VIC 3137
Australia
Biography : Born
on 22-07-1968 in London, United Kingdom.
Name : Mehul
Ashok Somaia
Designation : Director
and Company Secretary
Appointment date : 11/04/05
Address : 47
Kwinana Street
Glen Waverley, VIC
3150
Australia
Biography : Born
on 28-11-1978 in Tanga, Tanzania.
Staff employed : 7 employees
Composition
Authorized Capital : AUD 100
No of shares : 100
Ordinary Shares
Share par value : AUD 1
Issued capital : AUD
100
Paid up capital : AUD
100
How listed : Full
List
Composition
Shareholder name : A.H.
SOMAIA PTY. LTD.
Address : 45
Holloway Drive
Bayswater, VIC 3153
Australia
No. of shares : 50
Ordinary Shares
% of shares : 50%
Shareholder name : ASHOK H.
SOMAIA PTY. LTD.
Address : 45
Holloway Drive
Bayswater, VIC 3153
Australia
No. of shares : 25
Ordinary Shares
% of shares : 25%
Shareholder name : Mehul
Ashok Somaia
Address : 47
Kwinana Street
Glen Waverley, VIC 3150
Australia
No. of shares : 25
Ordinary Shares
% of shares : 25%
Structure
Name : ASHOK
H. SOMAIA PTY. LTD.
Affiliation type : Shareholder
Address : 45
Holloway Drive
Bayswater, VIC 3153
Australia
Name : A.H.
SOMAIA PTY. LTD.
Affiliation type : Shareholder
Address : 45
Holloway Drive
Bayswater, VIC 3153
Australia
Name : SIMBA
TEXTILE MILLS PTY. LTD.
Affiliation type : Associate
Address : 45
Holloway Drive
Bayswater, VIC 3153
Australia
Name : KANGAROO
KIDS EDUCATION LIMITED
Affiliation type : Associate
Address : Office
No. 301, Mamta House
231, S.V. Road, Bandra (W)
Mumbai 400050
Maharashtra
India
Name : MAHONEY
& SOMAIA PTY. LTD.
Affiliation type : Associate
Address : 45
Holloway Drive
Bayswater, VIC 3153
Australia
Name : DOMTEX
AUSTRALIA PTY LTD
Affiliation type : Associate
Address : 45
Holloway Drive
Bayswater, VIC
3153
Australia
Name : SIMBA
USA LLC
Affiliation type : Associate
Address : 99
Lake Park Drive
Morehead, KY 40351-7984
United States
Name : KANGAROO
KIDS AUSTRALIA PTY. LTD.
Affiliation type : Associate
Address : 45
Holloway Drive
Bayswater, VIC 3153
Australia
Name : SOMAIA
GROUP PTY LTD
Affiliation type : Associate
Address : 45
Holloway Drive
Bayswater, VIC
3153
Australia
Name : SOMAIA
BROS PTY LIMITED
Affiliation type : Associate
Address : 45
Holloway Drive
Bayswater, VIC 3153
Australia
Related companies and corporate affiliations comments: Other companies of the Simba and Somaia Group should be considered affiliatesof the Subject.
Bank Details
Name of bank : Australia
And New Zealand Banking Group 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 Ms. Mary Iles 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 $12.5 million,
and
-The company and any entities it controls have fewer than 50 employees
at the end of the financial year.
Main activities : The Subject engages in import and
distribution of towel and textile productsfor the promotional, corporate,
resort, healthcare and hospitality markets.
Brand : Simba
Towels
Purchases
International : India,
Pakistan, China
Sales
Local : Yes
International : None
reported.
Property &
Assets
Premises : The Subject operates from
premises at the verified heading address consisting of a warehouse and administrative
office.
Branches : None
reported.
Gross Domestic
Products (GDP) & Economic Overview
Central bank : Reserve
Bank of Australia
Reserve of foreign exchange & gold : US$ 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
International : Telegraphic
transfer, Prepayment, Credit 30-90 days
Sales Term
Local : Prepayment,
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.59.70 |
|
|
1 |
Rs.92.25 |
|
Euro |
1 |
Rs.78.38 |
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.