MIRA INFORM REPORT
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Report Date : |
16.03.2013 |
IDENTIFICATION DETAILS
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Name : |
BED BATH 'N' TABLE PTY LTD |
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Formerly Known as: |
DEMCART
PROPRIETARY LIMITED |
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Registered Office : |
255 Burwood
Road, Hawthorn, Victoria, Zip/postal code 3122 |
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Country : |
Australia |
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Date of Incorporation : |
15.07.1976 |
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Com. Reg. No.: |
005216866 |
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Legal Form : |
Australian
Proprietary Company |
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Line of Business : |
Retailer and
wholesaler of home textiles and home decoration product |
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No. of Employees : |
300 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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 :
BED BATH 'N'
TABLE PTY LTD
Other style /
Business name : BED BATH N' TABLE
Business
address : 255 Burwood
Road
Town : Hawthorn
Province : Victoria
Zip/postal
code : 3122
Country : Australia
Tel : +61 3
88888192
Fax : +61 3
98191844
Registered
address : 255 Burwood Road
Town : Hawthorn
Province : Victoria
Zip/postal
code : 3122
Country : Australia
Executive Summary
Date founded
or registered : 15/07/1976
Legal form : Australian
Proprietary Company
Chief
executive : Jonathan
David Dempsey
Issued &
paid up capital : AUD 12
Sales turnover
: AUD 110,000,000
(Estimated Non-consolidated 12 months, 30/06/2012)
Line of
business : Retailer
and wholesaler of home textiles and home decoration products.
Staff employed
: 300 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 good
Organization
structure : Organizational
structure is stable
Detrimental : No
detrimental found
Payment
history : No payment
delays noted
Registry Data
Registration
date : 15/07/1976
Legal form : Australian
Proprietary Company
Registration
no Australia
Company Number: 005216866
Registered
authority : Australian
Securities and Investments Commission
Fiscal/ Tax no
: Australia
Business Number: 66005216866
Registry
status : Live/Active
Previous name
: DEMCART
PROPRIETARY LIMITED (initial)
Change of
legal form : None reported.
Other
registration : BED
BATH N' TABLE is a business name owned by the Subject registered on
25/06/2010 under business registration no: BN98510433.
Key Management
Name : Jonathan David Dempsey
Designation : Managing Director
Name : Matthew Martin
Designation : Financial Controller
BOARD OF DIRECTORS/ OTHER APPOINTMENTS
Appointments
Name : Jonathan David
Dempsey
Designation : Director and Company Secretary
Appointment
date : 15/05/92
Address : 15 Harcourt Street
Hawthorn East, VIC 3123
Australia
Biography : Born on 05/10/1961 in
Melbourne, Victoria, Australia.
Staff employed
: 300 employees
Composition
Authorized
Capital : AUD 12
No of shares :
6 Ordinary Shares / 5 Class
A Shares / 1 Class B Share
Share par
value : AUD 1
Issued capital
: AUD 12
Paid up
capital : AUD 12
How listed :
Full List
Composition
Shareholder
name : DOMESTIC TEXTILE CORPORATION
PTY. LTD.
Address : 255 Burwood Road
Hawthorn, VIC 3122
Australia
No. of shares
: 6 Ordinary Shares / 5 Class
A Shares / 1 Class B Share
% of shares : 100%
Structure
Name : THE DEMPSEY GROUP PTY.
LTD.
Affiliation
type : Ultimate
Holding Company
Address : 275 Burwood Road
Hawthorn, VIC 3122
Australia
Name : DOMESTIC TEXTILE
CORPORATION PTY. LTD.
Affiliation
type : Parent
Company
Address : 255 Burwood Road
Hawthorn, VIC 3122
Australia
Name : BED BATH N' TABLE NZ
PTY LIMITED
Affiliation
type : Associate
Address : C/o PKF GOLDSMITH FOX
LIMITED
67 Old Main North Road
Kaiapoi, Christchurch 7691
New Zealand
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 : 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 : 110,000,000
Comments : The representative contacted Mr. Matthew
Martin 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 $12.5 million, and
-The company
and any entities it controls have fewer than 50 employees at the
end of the
financial year.
The Subject meets all criteria to
disclose their financial information however
Main
activities : The
Subject is engaged in import, retail distribution and wholesale of home
textiles and home decoration products.
Product &
services : Towels
Linen
Rugs
Bedroom accessories: Manchester, cushions, pillows, pillowcases,
continental quilts
Bathroom accessories
Kitchen accessories
Brand : Morgan & Finch
Studio Collection
Purchases
International
: Mainly from India, China
Sales
Local : Yes
International
: No exports.
Property &
Assets
Premises : The Subject operates from
premises located at the verified heading
address consisting of a retail showroom and administrative
office.
Branches : In addition, the Subject
operates from clearance stores and retail stores
located in Australia.
Central bank : Reserve Bank of Australia
Reserve of foreign exchange & gold : US$ 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
International
: L/C, Telegraphic
transfer, D/P, Credit 30-120 days
Sales Term
Local : Cash, Credit card, Bank
transfer, Credit 30-120 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.54.16 |
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UK Pound |
1 |
Rs.81.74 |
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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.