|
Report Date : |
28.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
GRIPWELL AUSTRALIA PTY. LIMITED |
|
|
|
|
Formerly Known As : |
CIPLY HOLDINGS PTY. LIMITED (initial) |
|
|
|
|
Registered Office : |
Unit 5, 72- |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
11.12.1989 |
|
|
|
|
Com. Reg. No.: |
003911715 |
|
|
|
|
Legal Form : |
Australian Proprietary Company |
|
|
|
|
Line of Business : |
Import and distribution of hand tools, automotive tools, marking and
measuring, security and storage products, builders and painting tools. |
|
|
|
|
No. of Employees : |
8 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 |
|
Payment Behaviour : |
No Complaints |
|
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 |
|
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 : GRIPWELL
AUSTRALIA PTY. LIMITED
Other style / Business name : PRO-ACTIVE
TOOLS INTERNATIONAL
Business address : Unit
5, 72-74 Lower Gibbes Street
Town : Chatswood
Province : New
South Wales
Zip/postal code : 2067
Country : Australia
Tel : +61
2 98826011
Fax : +61
2 98826635
Website : www.gripwell.com.au
Registered address : Unit
5, 72-74 Lower Gibbes Street
Town : Chatswood
Province : New
South Wales
Zip/postal code : 2067
Country : Australia
Executive Summary
Date founded or registered : 11/12/1989
Legal form : Australian
Proprietary Company
Chief executive : Gulshan
Jit Rana
Issued & paid up capital : AUD
1,000
Sales turnover : AUD
5,000,000 (Estimated Non-Consolidated 12 months, 30/06/2012)
Line of business : Import
and distribution of hand tools, automotive tools, marking and measuring,
security and
storage products, builders and painting tools.
Staff employed : 8
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 fair
Organization structure : Organizational
structure is stable
Detrimental : No detrimental found
Payment history : No
payment delays noted
Registry Data
Registration date : 11/12/1989
Legal form : Australian
Proprietary Company
Registration no Australian Company Number: 003911715
Registered authority : Australian
Securities & Investments Commission
Fiscal/ Tax no : Australian
Business Number: 23003911715
Registry status : Live/Active
Previous name : CIPLY
HOLDINGS PTY. LIMITED (initial)
Change of legal form : None
reported.
Other registration
: PRO-ACTIVE
TOOLS INTERNATIONAL is a business name owned by the Subject registered on
27/09/1988 under business registration no: K6977345.
Key Management
Name : Gulshan
Jit Rana
Designation : Managing
Director
Name : Jagjit
Singh Rana
Designation : Director
Appointments
Name : Uppinder
Singh Bhatia
Designation : Director
Appointment date : 01/10/97
Address : 13
Keldie Street
Forestville, NSW 2087
Australia
Biography : Born
on 24-11-1955 in New Delhi, India.
Name : Apnit
Singh Rana
Designation : Director
Appointment date : 01/10/97
Address : 12
Simpson Street
Belrose, NSW 2085
Australia
Biography : Born
on 22-11-1968 in Jalandhar, India.
Name : Gulshan
Jit Rana
Designation : Director
and Company Secretary
Appointment date : 16/01/90
Address : 21-25
Kenthurst Road
St Ives, NSW 2075
Australia
Biography : Born
on 08-06-1948 in New Delhi, India.
Name : Jagjit
Singh Rana
Designation : Director
Appointment date : 16/01/90
Address : 21-25
Kenthurst Road
St Ives, NSW 2075
Australia
Biography : Born
on 15-08-1937 in Phullarwan, India.
Staff employed : 8
employees
Composition
Authorized Capital : AUD
1,000
No of shares : 1,000
Ordinary Shares
Share par value : AUD 1
Issued capital : AUD
1,000
Paid up capital : AUD
1,000
How listed : Full
List
Composition
Shareholder name : Uppinder
Singh Bhatia
Address : 13
Keldie Street
Forestville, NSW 2087
Australia
No. of shares : 150
Ordinary Shares
Shareholder name : Jagjit
Singh Rana
Address : 21-25 Kenthurst Road
St Ives, NSW 2075
Australia
No. of shares : 350
Ordinary Shares
Shareholder name : Gulshan
Jit Rana
Address : 21-25
Kenthurst Road
St Ives, NSW 2075
Australia
No. of shares : 350
Ordinary Shares
Shareholder name : Apnit Singh
Rana
Address : 12
Simpson Street
Belrose, NSW 2085
Australia
No. of shares : 150
Ordinary Shares
Structure
Related companies and corporate affiliations comments: None reported.
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 : Unsatisfied
charge details:
ASIC Charge Number: 143422
Date Registered: 23-03-1990
Charge type: Both
Fixed & Floating
Date Created: 16-03-1990
Chargees Name: AUSTRALIA
AND NEW ZEALAND BANKING GROUP LIMITED
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 25-06-2013
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 : 5,000,000
Comments : The
estimated turnover was provided by Mr. Gulshan Jit Rana.
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 $12.5 million, and
-The company and any entities it controls
have fewer than 50 employees at the
end of the financial year.
Main activities : The Subject engages in
import and distribution of hand tools, automotive tools, marking and measuring,
security and storage products, builders and painting tools, garden tools,
camping and outdoor equipment.
Purchases
International : Mainly
from China, Taiwan, India
Sales
Local : Yes
International : No
exports.
Property &
Assets
Premises : The Subject
operates from premises at the verified heading address consisting of a
administrative office and warehouse.
Branches : None
reported.
Gross Domestic
Products (GDP) & Economic Overview
Central bank : Reserve
Bank of Australia
Reserve of foreign exchange & gold : US$ 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,
Credit 30-60 days
Sales Term
Local : Prepayment,
Bank transfer, Credit 30-60 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.60.59 |
|
|
1 |
Rs.92.92 |
|
Euro |
1 |
Rs.78.94 |
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.