|
Report Date : |
23.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
PACIFIC HOISTS PTY LTD |
|
|
|
|
Formerly Known As : |
RELDA INVESTMENTS PTY LTD (initial) |
|
|
|
|
Registered Office : |
C/O PRIESTLEY & MORRIS Level 7, 3 Horwood Place Parramatta New South Wales 2150 |
|
|
|
|
Country : |
Australia |
|
|
|
|
Date of Incorporation : |
27.06.1968 |
|
|
|
|
Com. Reg. No.: |
000631032 |
|
|
|
|
Legal Form : |
Australian Proprietary Company |
|
|
|
|
Line of Business : |
Import & distribution of lifting and material handling products. |
|
|
|
|
No. of Employees : |
28 employees |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
Usually Correct |
|
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
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
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
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.
Source
: CIA
Verified Address
Subject name : PACIFIC HOISTS PTY LTD
Business address :
24 Foundry Road
Town : Seven Hills
Province : New South Wales
Zip/postal code : 2147
Country : Australia
Tel : +61 2 88256900
Fax : +61 2 88256999
Website : www.pacifichoists.com.au
Registered address
: C/O PRIESTLEY & MORRIS
Level 7, 3 Horwood Place
Town : Parramatta
Province : New South Wales
Zip/postal code : 2150
Country : Australia
Executive Summary
Date founded or
registered : 27/06/1968
Legal form : Australian
Proprietary Company
Chief executive : Richard Crake
Issued & paid
up capital : AUD 157
Sales turnover : AUD 15,000,000
(Estimated Non-consolidated 12 months, 30/06/2012)
Line of business :
Import &
distribution of lifting and material handling products.
Staff employed : 28 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
: 27/06/1968
Legal form : Australian Proprietary Company
Registration no Australian Company Number:
000631032
Registered
authority : Australian Securities and
Investments Commission
Fiscal/ Tax no : Australian Business Number:
88000631032
Registry status : Live/Active
Previous name : RELDA INVESTMENTS PTY LTD (initial)
Change of legal
form : None reported.
Key Management
Name : Richard Crake
Designation : Managing Director
Name : Richard Lawson
Designation : Corporate Accounts Manager
Name : Karen Herbert
Designation : Human Resources Manager
Appointments
Name : Richard Crake
Designation : Director
Appointment date :
26/08/05
Address : 9 Lynwood Place
Castle Hill, NSW 2154
Australia
Biography : Born on 01-05-1959 in the United Kingdom.
Richard Crake is the Chief Executive Officer of Pacific Hoists since
2005. Richard Crake has worked 18 years with Unilever companies in
the UK, France and Australia.
Name : Graham Scott
Designation : Director
Appointment date :
17/09/08
Address : 27 Alexandra Circuit
Alexandra Hills, QLD 4161
Australia
Biography : Born on 02-07-1954 in Tapanui, New
Zealand.
Name : Karen Herbert
Designation : Director and Company Secretary
Appointment date :
08/12/09
Address : 24 Blacks Road
Arcadia, NSW 2159
Australia
Biography : Born on 29-03-1958 in Camperdown, New
South Wales, Australia.
Name : Patricia Ann Sutton
Designation : Director
Appointment date :
08/12/09
Address : 3 Jadchalm Street
West Pennant Hills, NSW 2125
Australia
Biography : Born on 03-12-1946 in Southall, United
Kingdom.
Staff employed :
28 employees
Composition
Authorized Capital
: AUD 157
No of shares : 151 Ordinary Shares / 6 Second
Redeemable Particpating Preference Shares
Share par value : AUD 1
Issued capital : AUD 157
Paid up capital : AUD 157
How listed : Full
List
Composition
Shareholder name :
MOUNTAIN SEA PTY. LTD.
Address : 24 Blacks Road
Arcadia, NSW 2159
Australia
No. of shares : 76 Ordinary Shares / 3 Second
Redeemable Particpating Preference Shares
Shareholder name :
MAYDENE PTY LTD
Address : 46 Grandview Crescent
Killcare, NSW 2257
Australia
No. of shares : 75 Ordinary Shares / 3 Second
Redeemable Particpating Preference Shares
Structure
Name : MOUNTAIN SEA PTY. LTD.
Affiliation type :
Parent Company
Address : 24 Blacks Road
Arcadia, NSW 2159
Australia
Name : MAYDENE PTY LTD
Affiliation type :
Shareholder
Address : 46 Grandview Crescent
Killcare NSW 2257
Australia
Name : PACIFIC HOISTS LIMITED
Affiliation type :
Wholly-owned Subsidiary
Address : 11 Druces Road
Manukau City, Auckland 2104
New Zealand
Name : PACIFIC HOISTS INDENT PTY LTD
Affiliation type :
Wholly-owned Subsidiary
Address : 24 Foundry Road
Seven Hills, NSW 2147
Australia
Name : SAFEPOUR PTY LTD
Affiliation type :
Associate
Address : 24 Foundry Road
Seven Hills, NSW 2147
Australia
Bank Details
Name of bank : St.George 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 0.96 as of
21-03-2013
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 : 15,000,000
Comments : 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 $12.5 million, and
-The company and any entities it controls have fewer than 50 employees
at the
end of the financial year.
Main activities : The Subject is engaged
in the import & distribution of lifting and material
handling products.
The Subject offers its products through a network of distributors
throughout
Australia, New Zealand, Papua New Guinea, and the Pacific Islands.
The Subject's head office and main warehouse is located at Seven Hills.
The Subject also has warehouses and offices in Brisbane, Perth and
Auckland.
Product &
services : Winches, hoists,
balancers, chainblocks, clamps and beams, skates and
rollers, and trolleys
Brand : Hitachi
J.D. Neuhaus
Vital
Inter Product
Akapp
Pacific Hoists
Merton
Kromer and Comeup
Purchases
International :
Japan, Netherlands, Taiwan, China, Europe
Sales
Local : Yes
International : New
Zealand, Papua New Guinea, and the Pacific Islands
Property & Assets
Premises : The Subject operates from head office
located at the verified heading
address consisting of a administrative office and warehouse.
Branches : In addition, the Subject operates from
branch offices located at:
Unit 1, 31 Colin Jamieson Drive
Welshpool, WA 6106
Australia
Tel: +61 8 62531000
Unit 5, 54 Nealdon Drive
Meadowbrook, QLD 4131
Australia
Tel: +61 7 31703800
Gross Domestic Products (GDP) & Economic
Overview
Central bank : Reserve
Bank of Australia
Reserve of foreign
exchange & gold : US$ 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 :
L/C, Telegraphic transfer, Document against payment, Credit 30-90 days
Sales Term
Local :
Prepayment, Document against payment, Credit 30-90 days
International :
L/C, Telegraphic transfer, Document against payment, 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.54.33 |
|
|
1 |
Rs.82.56 |
|
Euro |
1 |
Rs.70.10 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.