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Report Date : |
23.03.2013 |
IDENTIFICATION DETAILS
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Name : |
TECHWARE PTY LTD |
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|
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Registered Office : |
27
Richards Road, Hoppers Crossing, Victoria 3029 |
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Country : |
Australia |
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Date of Incorporation : |
19.02.2008 |
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Com. Reg. No.: |
129765135 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Engaged as distributor of fastening & safety products |
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No. of Employees : |
5 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 : |
Usually correct |
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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
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Australia |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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 : TECHWARE
PTY LTD
Business
address : 27 Richards
Road
Town :
Hoppers
Crossing
Province
: Victoria
Zip/postal
code : 3029
Country
: Australia
Tel : +61 3 93697000
Fax : +61 3
93697100
Email
: sales@techware.net.au
Website
: www.maxisafe.com.au
Registered
address : 27 Richards Road
Town :
Hoppers
Crossing
Province
: Victoria
Zip/postal
code : 3029
Country
: Australia
Postal
address : P.O. Box
4220
Town :
Hoppers
Crossing
Province
: Victoria
Zip/postal
code : 3029
Country
: Australia
Executive Summary
Date
founded or registered : 19/02/2008
Legal
form : Australian
Proprietary Company
Chief
executive : Adrian
Phillips
Issued
& paid up capital : AUD 2
Sales
turnover : AUD
3,000,000 (Estimated Non-consolidated 12 months, 30/06/2012)
Line
of business : Distributor
of fastening & safety products.
Staff
employed : 5
employees
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 acceptable
Detrimental
: No detrimental found
Payment
history : No payment
delays noted
Registry Data
Registration
date : 19/02/2008
Legal
form : Australian
Proprietary Company
Registration
no Australian Company Number: 129765135
Registered
authority : Australian
Securities and Investments Commission
Fiscal/
Tax no : Australian Business Number: 24129765135
Registry
status : Live/Active
Previous
name : None
reported.
Change
of legal form : None
reported.
Key Management
Name :
Adrian Phillips
Designation
: Managing Director
Name :
Paul Phillips
Designation
: Director
Appointments
Name :
Adrian Phillips
Designation
: Director
Appointment
date : 19/02/08
Address
: 4 Haveaux Street
Werribee, VIC 3030
Australia
Biography
: Born on 30-12-1977 in
Werribee, Victoria, Australia.
Name :
Paul Phillips
Designation
: Director and Company
Secretary
Appointment
date : 19/02/08
Address
: 6 Mulwala Court
Wyndham Vale, VIC 3024
Australia
Biography
: Born on 28-05-1976 in
Werribee, Victoria, Australia.
Staff
employed : 5 employees
Composition
Authorized
Capital : AUD 2
No of
shares : 2 Ordinary Shares
Share
par value : AUD 1
Issued
capital : AUD 2
Paid
up capital : AUD 2
How
listed : Full List
Composition
Shareholder
name : Adrian Phillips
Address
: 4 Haveaux Street
Werribee,
VIC 3030
Australia
No. of
shares : 1 Ordinary Share
% of
shares : 50%
Shareholder
name : Paul Phillips
Address
: 6 Mulwala Court
Wyndham
Vale, VIC 3024
Australia
No. of
shares : 1 Ordinary Share
% of
shares : 50%
Structure
Related
companies and corporate
affiliations
comments
: None
reported.
Bank Details
Name
of bank : Westpac Banking Corporation
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
: ASIC Charge Number: 2145189
Date
Registered: 15-03-2011
Charge
type: Fixed
Date
Created: 25-02-2011
Chargees
Name: TOYOTA FINANCE AUSTRALIA LTD
ASIC
Charge Number: 2175829
Date
Registered: 17-05-2011
Charge
type: Fixed
Date
Created: 12-04-2011
Chargees
Name: TOYOTA FINANCE AUSTRALIA LTD
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
0.96 as of 20-03-2013
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 : 3,000,000
Comments : The
estimated turnover was provided by Mr. Adrian Phillips. 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 $12.5
million, and
-The company and any entities it controls have fewer than 50
employees at the
end of the financial year.
Main
activities : The Subject is engaged as distributor of fastening & safety
products.
Product
& services : Protective handware
Eyeware,
headware, footware & breatheware
Staples
& staplers
Tackers
& hammer tackers
Brand
: MAXIFAST
MAXISAFE
Purchases
International
: China, Taiwan
Sales
Local
: Yes
International
: No exports.
Property & Assets
Premises
: The Subject operates from premises located at the verified heading
address
consisting of a administrative office and warehouse.
Branches
: None reported.
Gross Domestic Products (GDP) &
Economic Overview
Central
bank : Reserve
Bank of Australia
Reserve
of foreign exchange & gold : US$
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, 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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.33 |
|
|
1 |
Rs.82.55 |
|
Euro |
1 |
Rs.70.10 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.