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Report Date : |
25.03.2013 |
IDENTIFICATION DETAILS
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Name : |
PLASCORP PTY LTD |
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Formerly Known As : |
PLASTICOAT PTY LTD |
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Registered Office : |
C/o B WOODLANDS & ASSOCIATES 18 St Edmonds Road Prahran Victoria 3181 |
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Country : |
Australia |
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Date of Incorporation : |
01.03.2001 |
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Com. Reg. No.: |
096078527 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Manufacturer of industrial ducting and petrochemical composite hose, steel reinforcing mesh and bar etc. |
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No. of Employees : |
80 employees |
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 : |
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 (31.03.2011) |
Current Rating (30.06.2012) |
|
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.
Source
: CIA
Verified Address
Subject name : PLASCORP PTY LTD
Business address :
45 Chambers Road
Town : Altona North
Province : Victoria
Zip/postal code : 3025
Country : Australia
Tel : +61 3 93914011
Fax : +61 3 93913963
Email : sales@plascorp.com.au
Website : www.plascorp.com.au
Registered address
: C/o B WOODLANDS & ASSOCIATES
18 St Edmonds Road
Town : Prahran
Province : Victoria
Zip/postal code : 3181
Country : Australia
Postal address : P.O. Box 2
Town : Altona North
Province : Victoria
Zip/postal code : 3025
Country : Australia
Executive Summary
Date founded or
registered : 01/03/2001
Legal form : Australian
Proprietary Company
Chief executive : Jeffrey Goldberg
Issued & paid
up capital : AUD 1,039,475.52
Sales turnover : AUD 30,000,000
(Estimated Non-consolidated 12 months, 30/06/2012)
Line of business :
Manufacturer of
industrial ducting and petrochemical composite hose, steel
reinforcing mesh and bar etc.
Staff employed : 80 employees
Company Analysis
Country risk : Country risk is
minimal
Operation trend : Operational trend is
steady
Management
experience : Management is
reasonably 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
: 01/03/2001
Legal form : Australian
Proprietary Company
Registration no Australian Company
Number: 096078527
Registered
authority : Australian
Securities and Investments Commission
Fiscal/ Tax no : Australian Business
Number: 34096078527
Registry status : Live/Active
Previous name : The Subject was
established on 01-03-2001 under the name RINALE PTY. LTD
and changed its name to PLASTICOAT PTY LTD on 11-05-2001. The Subject
then changed to the current style on 25-06-2010.
Change of legal
form : None reported.
Key Management
Name : Jeffrey Goldberg
Designation : Joint Managing Director
Name : George Antonopoulos
Designation : Joint Managing Director
Name : Jakes Raubenheimer
Designation : National Sales Manager
Name : Glen Cooper
Designation : Market Manager
Appointments
Name : Jeffrey Goldberg
Designation : Director and Company Secretary
Appointment date : 04/05/01
Address : 25 Winston Way
Murrumbeena, VIC 3163
Australia
Biography : Born on 11/01/1958 in
Johannesburg, South Africa.
Name : George Antonopoulos
Designation : Director
Appointment date :
04/05/01
Address : 43 Woodville Park Drive
Hoppers Crossing, VIC 3029
Australia
Biography : Born on 20/06/1962 in
Melbourne, Victoria, Australia.
Name : Anthony Russell Cooper
Designation : Director
Appointment date :
08/03/01
Address : Unit 1, 10 Beach Road
Torquay, VIC 3228
Australia
Biography : Born on 19/05/1951 in
Manchester, United Kingdom.
Staff employed : 80 employees
Composition
Authorized Capital
: AUD 1,039,475.52
No of shares : 89,750 Ordinary Shares
Share par value : No par value
Issued capital : AUD 1,039,475.52
Paid up capital : AUD 1,039,475.52
How listed : Full
List
Composition
Shareholder name :
JACSIE PTY LTD
Address : C/o B WOODLANDS &
ASSOCIATES
18 St Edmonds Road
Prahran, VIC 3181
Australia
No. of shares : 10,000 Ordinary Shares
Shareholder name :
Rozelle Joffee
Address : 3B Glenview Street
Gordon, NSW 2072
Australia
No. of shares : 9,000 Ordinary Shares
Shareholder name :
Irene Goldberg
Address : 3B Glenview Street
Gordon, NSW 2072
Australia
No. of shares : 1,400 Ordinary Shares
Shareholder name : IDAM DISTRIBUTORS PTY LTD
Address : 34 Ragless Street
St Marys, SA 5042
Australia
No. of shares : 1,171 Ordinary Shares
Shareholder name :
Joy-Ann Goldberg
Address : 25 Winston Way
Murrumbeena, VIC 3163
Australia
No. of shares : 14,937 Ordinary Shares
Shareholder name :
Noula Antonopolous
Address : 43 Woodville Park Drive
Hoppers Crossing, VIC 3029
Australia
No. of shares : 14,937 Ordinary Shares
Shareholder name :
Anthony Russell Cooper
Address : Unit 1, 10 Beach Road
Torquay, VIC 3228
Australia
No. of shares : 22,966 Ordinary Shares
Shareholder name :
TURNLEY ENTERPRISES PTY LTD
Address : 83 Park Terrace
Salisbury, SA 5108
Australia
No. of shares : 8,975 Ordinary Shares
Shareholder name :
Jointly held by Jeffrey Goldberg, Joy-Ann
Goldberg & Nicky Goldberg
Address : Jeffrey Goldberg, Joy-Ann
Goldberg & Nicky Goldberg
25 Winston Way
Murrumbeena, VIC 3163
Australia
No. of shares : 571 Ordinary Shares
Shareholder name :
Jointly held by Karen Banks, Peter
Banks, Patricia Tyquin & Suzanne Tyquin
Address : Karen Banks, Peter Banks,
Patricia Tyquin & Suzanne Tyquin
4 Jonathan Road
Gisborne, VIC 3437
Australia
No. of shares : 1,795 Ordinary Shares
Ownership /
Shareholding comment : Other shareholder include the following:
Shareholder name: M TURNLEY INVESTMENTS PTY LTD
Address: 83 Park Terrace,
Salisbury, SA 5108, Australia
No. of shares: 3,998 Ordinary Shares
Structure
Related companies and
corporate affiliations comments : None reported.
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 : 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 : 30,000,000
Comments : The estimated
turnover was provided by Mr. Jeffrey Goldberg.
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 $12.5 million, and
-The company and any entities it controls have fewer than 50 employees
at the
end of the financial year.
Main activities : The Subject
is engaged as manufacturer of industrial ducting and
petrochemical composite hose, steel reinforcing mesh and bar, mine
ventilation ducting, PVC pipes and fitting, galvanised steel conduit and
electrical cable cover.
Product &
services : Plasticoat
- Industrial ducting and petro-chemical composite hose
Reomaster
- Steel reinforcing mesh and bar
Minemaster
- Mine ventilation ducting
Pipemaster
- PVC pipes and fittings, Metcon
Galvanised steel conduit, electrical cable cover
Purchases
International :
Malaysia, Taiwan, China
Sales
Local : Yes
International :
United Arab Emirates, South Africa, New Zealand
Property & Assets
Premises : The Subject operates from premises
located at the verified heading
address consisting of a production facilities, warehouse and
administrative
office.
Branches : In addition, the Subject operates from
branch office and warehouse located
at:
32 Clune Street
Bassendean, WA 6054
Australia
Tel: +61 8 93798922
45 Holland Street
Northgate, QLD 4013
Australia
Tel: +61 7 32669988
Gross Domestic Products (GDP) & Economic
Overview
Central bank : Reserve
Bank of Australia
Reserve of foreign
exchange & gold : US$ 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 :
Credit 30 days, Payment once B/L presented
Sales Term
Local : Credit 30
days
International :
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.33 |
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|
1 |
Rs.82.56 |
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Euro |
1 |
Rs.70.10 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
|
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 |
|
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 |
-- |
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.