MIRA INFORM REPORT
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Report Date : |
06.03.2013 |
IDENTIFICATION DETAILS
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Name : |
SSR TECHNOLOGIES AUST PTY LTD |
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Formerly Known as: |
SRS TECHNOLOGIES PTY LTD |
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Registered Office : |
Unit 113, 7 Hoyle Avenue,
Castle Hill, South Wales, Zip/postal code 2154 |
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Country : |
Australia |
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Date of Incorporation : |
24.11.2011 |
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Com. Reg. No.: |
154441504 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Sales, service and support
on IT & engineering solutions. |
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No. of Employees : |
03 employees (Full Time) |
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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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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
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.
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Source : CIA |
Verified Address
Subject name : SSR TECHNOLOGIES AUST PTY LTD
Business address : Unit 113, 7 Hoyle Avenue
Town : Castle Hill
Province : New South Wales
Zip/postal code : 2154
Country : Australia
Tel : +61
2 98940055
Fax : +61 2 98941155
Email : info@ssrtech.com.au
Website : www.ssrtech.com.au
Registered address : Unit 113, 7 Hoyle Avenue
Town : Castle Hill
Province : New South Wales
Zip/postal code : 2154
Country : Australia
Postal address : P.O. Box 712
Town : Kings Langley
Province : New South Wales
Zip/postal code : 2147
Country : Australia
Executive Summary
Date founded or registered : 24/11/2011
Legal form : Australian
Proprietary Company
Chief executive : Ranjan Fernando
Issued & paid up capital
: AUD 20
Sales turnover : AUD 450,000 (Estimated
Non-consolidated 7 months, 30/06/2012)
Line of business : Sales, service and support
on IT & engineering solutions.
Staff employed : 3 employees (Full Time)
Company Analysis
Country risk Country risk is
minimal
Operation trend : Operational trend is in
start-up phase
Management experience : Management is inadequately experienced
Financial performance : Financial performance is poor
Organization structure : Organizational structure is
acceptable
Detrimental : No detrimental found
Payment history : No
payment delays noted
Credit amount suggestion : Fully secured terms.
Credit amount asked : Not described.
Comments : It is strictly
advisable to conduct business dealing on prepayment or L/C basis
due
to the Subject recent date of establishment.
Registry Data
Registration date : 24/11/2011
Legal form : Australian
Proprietary Company
Registration no Australia Company
Number: 154441504
Registered authority : Australian Securities and
Investments Commission
Fiscal/ Tax no : Australia Business
Number: 66154441504
Registry status : Live/Active
Previous name : SRS TECHNOLOGIES PTY LTD
(initial)
Change of legal form : None reported.
Key Management
Name : Ranjan Fernando
Designation : Managing Director
Appointments
Name : Anne Malinthi Kumarie
Fernando
Designation : Director and Company Secretary
Appointment date : 24/11/11
Address : 25 Willowtree Avenue
Glenwood,
NSW 2768
Australia
Biography : Born on 15/08/1973 in Sri
Lanka.
Name : Ranjan Fernando
Designation : Director and Company Secretary
Appointment date : 24/11/11
Address : 25 Willowtree Avenue
Glenwood,
NSW 2768
Australia
Biography : Born on 15/10/1973 in Sri
Lanka.
Staff employed : 3 employees (Full Time)
Composition
Authorized Capital : AUD 20
No of shares : 20 Ordinary Shares
Share par value : AUD 1
Issued capital : AUD 20
Paid up capital : AUD
20
How listed : Full List
Composition
Shareholder name : Ranjan Fernando
Address : 25 Willowtree Avenue
Glenwood,
NSW 2768
Australia
No. of shares : 10 Ordinary Shares
% of shares : 50%
Shareholder name : Anne Malinthi Kumarie Fernando
Address : 25
Willowtree Avenue
Glenwood,
NSW 2768
Australia
No. of shares : 10 Ordinary Shares
% of shares : 50%
Structure
Related companies and
corporate affiliations comments : None reported.
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
: 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 0.98 as of
01-03-2013
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 : 7 months
Sale turnover / Income : 450,000
Comments : The estimated
turnover was provided by Mr. Ranjan Fernando. He further
advised
that the Subject projected sales turnover for financial year end 30-06-2013 is
AUD 600,000.
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 $12.5 million, and
-The company and any entities
it controls have fewer than 50 employees at the end of the financial year.
Main activities : The Subject
is engaged in providing sales, service and support to Point of
Sale industry and to small – medium
businesses in IT & engineering solutions.
The Subject also design,
install and support all windows based computer systems, including website
design, remote access, online and offline backup and recovery.
Product & services :
The Subject's services are as
follows:
- IT Solutions
Network Plan Design
Internetworking -
installation of LANs, WANs, Wireless and Intranets
Networking of Hardware -
including cabling, hubs, switches, routers, and
firewalls
Internet Security
Networking of Windows-based
operating systems
Virtual Private Network (VPN)
setup, Terminal Server products, and
Outlook Exchange Server
Servers, Workstations &
IP Printers
Fixing & Troubleshooting
Computers
Computer Support Services
Computer Service &
Maintenance
Upgrading Workstations &
Servers
Web Services
Data Recovery & Backup
VoIP Phone Systems
Website Design &
implementation
Computer Virus & Spyware
Removal
Remote Access
Provide Fast Internet
Connections
-Point of Sale
Touch Screen Terminals
Cash Drawers
POS Receipt Printers
POS Scanners
Receipt Paper Rolls
Printer Ribbons
Repair Terminals &
Printers
Ongoing Support
Purchases
International : Taiwan
Sales
Local : Yes
International : No exports.
Property &
Assets
Premises : The Subject operates from the
verified heading address consisting of a
administrative office and warehouse.
Branches : None reported.
Central bank : Reserve Bank of Australia
Reserve of foreign exchange & gold : US$ 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 2009: 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, Telegraphic transfer,
Credit 30 days
Sales Term
Local : Prepayment, Bank
transfer, Credit 30 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.54.65 |
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UK Pound |
1 |
Rs.82.66 |
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Euro |
1 |
Rs.71.21 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.