MIRA INFORM REPORT
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Report Date : |
15.03.2013 |
IDENTIFICATION DETAILS
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Name : |
ACERACK AUSTRALIA PTY LTD |
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Registered Office : |
C/O Brennan Sloan Chartered
Accountants, 151 Walcott Street, Mount Lawley, Australia, Zip/Postal Code
6050 |
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Country : |
Australia |
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Date of Incorporation : |
24.03.2009 |
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Com. Reg. No.: |
136057513 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Wholesale distributors of storage
systems and equipment. |
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No. of Employees : |
04 |
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 : ACERACK AUSTRALIA PTY LTD
Business address : 5 Hanwell Way
Town : Bassendean
Province : Western Australia
Zip/postal code : 6054
Country : Australia
Tel : +61 8 93780500
Fax : +61 8 93770300
Email : sales@acerack.com.au
Website : www.acerack.com.au
Registered address : C/o BRENNAN SLOAN CHARTERED ACCOUNTANTS
151 Walcott Street
Town : Mount Lawley
Province : Western Australia
Zip/postal code : 6050
Country : Australia
Comments : The provided address 95-99 Daly
Street, Belmont, WA 6104, Australia belongs
to the Subject’s warehouse premise.
Executive Summary
Date founded or registered : 24/03/2009
Legal form : Australian
Proprietary Company
Chief executive : Christopher Ian Fudge
Issued & paid up capital
: AUD 1
Sales turnover : AUD 2,000,000 (Estimated
Non-consolidated 12 months, 30/06/2012)
Line of business : Wholesale distributors of
storage systems and equipment.
Staff employed : 4 employees
Company Analysis
Country risk : Country risk is
minimal
Operation trend : Operational trend is
steady
Management experience : Management is modestly 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 : 24/03/2009
Legal form : Australian
Proprietary Company
Registration no Australian Company
Number: 136057513
Registered authority : Australian Securities and
Investments Commission
Fiscal/ Tax no : Australian Business
Number: 11136057513
Registry status : Live/Active
Previous name : None reported.
Change of legal form : None reported.
Key Management
Name : Christopher Ian Fudge
Designation : Managing Director
Appointments
Name : Christopher Ian Fudge
Designation : Director and Company Secretary
Appointment date : 24/03/09
Address : 117 Castlecrag Drive
Kallaroo,
WA 6025
Australia
Biography : Born on 19-10-1959 in United
Kingdom.
Name : Ian Angus MacDonald
Designation : Director
Appointment date : 24/03/09
Address : 160 Victoria Avenue
Dalkeith,
WA 6009
Australia
Biography : Born on 05-10-1961 in Perth,
Western Australia, Australia.
Name : Andrew Brian Gordon
Designation : Director
Appointment date : 15/06/10
Address : 17 Yorna Road
Kalamunda,
WA 6076
Australia
Biography : Born on 29-07-1968 in Sydney,
New South Wales, Australia.
Staff employed : 4 employees
Composition
Authorized Capital : AUD 1
No of shares : 1 Ordinary Share
Share par value : AUD 1
Issued capital : AUD 1
Paid up capital : AUD
1
How listed : Full List
Composition
Shareholder name : APC GROUP PTY LTD
Address : 5 Hanwell Way
Bassendean,
WA 6054
Australia
No. of shares : 1
Ordinary Share
% of shares : 100%
Structure
Name : APC GROUP PTY LTD
Affiliation type : Parent Company
Address : 5 Hanwell Way
Bassendean,
WA 6054
Australia
Name : RACKMART PTY. LTD.
Affiliation type : Sister Company
Address : 241 Great Eastern Highway
Belmont,
WA 6054
Australia
Name : APC STORAGE SOLUTIONS
PTY LTD
Affiliation type : Sister Company
Address : 5 Hanwell Way
Bassendean,
WA 6054
Australia
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
Source of financial statement
: External Sources
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
11-03-2013
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 : 12 months
Sale turnover / Income : 2,000,000
Comments : The representative contacted
Mr. Andrew Brian Gordon 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 $12.5 million, and
-The company and any entities
it controls have fewer than 50 employees at the end of the financial year.
Main activities : The Subject is engaged in wholesale
distributors of storage systems and
equipment.
Product & services :
Pallet Racking
Racking Accessories
Longspan Shelving
Small Parts Storage
Cantilever Racking
Wire Shelving
Packing Benches
High Density Cabinets
Purchases
Local : Yes
International : China, India
Sales
Local : Yes
International : No exports.
Property &
Assets
Premises : The Subject operates from premises
located at the verified heading
address
consisting of an administrative office.
Branches : In addition, the Subject operates from a
warehouse located at:
95-99 Daly
Street
Belmont,
WA 6104
Australia
Central bank : Reserve Bank of Australia
Reserve of foreign exchange & gold : US$ 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
Local : Prepayment, Bank transfer, Credit
30-60 days
International : Prepayment, Telegraphic transfer, 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.54.44 |
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UK Pound |
1 |
Rs.81.33 |
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Euro |
1 |
Rs.70.50 |
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.