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Report Date : |
29.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
BRIGHTON-BEST INTERNATIONAL (AU) PTY LTD |
|
|
|
|
Registered Office : |
31-33 Canterbury Road, Braeside, Victoria 3195 |
|
|
|
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Country : |
Australia |
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|
|
|
Financials (as on) : |
31.12.2011 |
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|
|
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Date of Incorporation : |
24.08.2006 |
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|
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Com. Reg. No.: |
121404939 |
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Legal Form : |
Australian Proprietary Company |
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|
|
|
Line of Business : |
Engaged in import and wholesale distribution of fastener,
screw and bolt products. |
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No. of Employees : |
65 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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
|
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 |
|
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 : BRIGHTON-BEST
INTERNATIONAL (AU) PTY LTD
Business address : 31-33
Canterbury Road
Town : Braeside
Province : Victoria
Zip/postal code : 3195
Country : Australia
Tel : +61
3 85860244
Fax : +61
3 95877255
Email : vicsales@brightonbest.com.au
Website : www.brightonbest.com.au
Registered address : 31-33
Canterbury Road
Town : Braeside
Province : Victoria
Zip/postal code : 3195
Country : Australia
Executive
Summary
Date founded or registered : 24/08/2006
Legal form : Australian
Proprietary Company
Chief executive : Christopher
Ian van Cuylenburg
Issued & paid up capital : AUD 30,000,000
Sales turnover : AUD
13,168,151 (Non-Consolidated 12 months, 31/12/2011)
Net income : AUD
-1,841,848 (Non-Consolidated 12 months, 31/12/2011)
Total fixed assets : AUD
36,417,458 (Non-Consolidated 12 months, 31/12/2011)
Line of business : Import
and wholesale distribution of fastener, screw and bolt products.
Staff employed : 65
employees (Subject)
Country risk : Country
risk is minimal
Operation trend : Operational
trend is declining
Management experience : Management
is modestly experienced
Financial performance : Financial
performance is gradually declining
Organization structure : Organizational
structure is stable
Detrimental : No detrimental found
Payment history : No
payment delays noted
Registry
Data
Registration date : 24/08/2006
Legal form : Australian
Proprietary Company
Registration no Australia Company Number: 121404939
Registered authority : Australian
Securities & Investments Commission
Fiscal/ Tax no : Australia Business Number: 79121404939
Registry status : Live/Active
Previous name : TA
CHEN INTERNATIONAL PTY LTD (initial)
Change of legal form : None
reported.
Key
Management
Name : Christopher
Ian van Cuylenburg
Designation : Managing
Director
Appointments
Name : Peggy Hsieh
Designation : Director
Appointment date : 11/04/08
Address : C/o BRIGHTON-BEST INTERNATIONAL (US) INC.
Biography : Born on 04-04-1980 in Taiwan.
Name : Jun Xu
Designation : Director
Appointment date : 11/04/08
Address : 5855 Obispo Avenue
Long Beach
United States
Biography : Born on 21-02-1979 in China.
Name : Robert Shieh
Designation : Director
Appointment date : 24/08/06
Address : 5855 Obispo Avenue
Long Beach
United States
Biography : Born on 19-12-1952 in Taiwan.
Name : Li-Yun Hsieh
Designation : Director
Appointment date : 28/07/10
Address : No. 1-4, Ln. 132 Sec. 2
Funong Street
Tainan City
Taiwan
Biography : Born on 06-11-1951 in Tainan, Taiwan.
Name : Christopher Ian van Cuylenburg
Designation : Director
Appointment date : 28/07/10
Address : Unit 1A, 73A Banksia Street
Botany, NSW 2019
Australia
Biography : Born on 04-05-1950 in Singapore, Singapore.
Staff employed : 65 employees (Subject)
Key Advisors
Auditors : BENTLEYS
GPO Box 2266
Melbourne, VIC 3000
Australia
Composition
Authorized Capital : AUD
30,000,000
No of shares : 30,000,000
Ordinary Shares
Share par value : AUD
1
Issued capital : AUD
30,000,000
Paid up capital : AUD
30,000,000
How listed : Full List
Composition
Shareholder name : BRIGHTON-BEST INTERNATIONAL (TAIWAN) INC.
Address : No.122, Yi-Lin Road
Rende District
Tainan City 717
Taiwan
No. of shares : 30,000,000 Ordinary Shares
% of shares : 100%
Structure
Name : BRIGHTON-BEST INTERNATIONAL (TAIWAN) INC.
Affiliation type : Parent Company
Address : No.122, Yi-Lin Road
Rende District
Tainan City 717
Taiwan
Comments : Brighton-Best Internation (Taiwan) Inc. primarily
engages in the distribution of
socket screw products. Its products include finished hex
nuts, hex jam nuts,
heavy hex nuts, machine screw nuts, all metal lock nuts,
stainless steel hex and
lock nuts, and wing and tee nuts.
Brighton-Best Internation (Taiwan) Inc. is headquartered in
Tainan, Taiwan.
Name : BRIGHTON-BEST INTERNATIONAL (NZ) LIMITED
Affiliation type : Sister Company
Address : 28B Pavilion Drive
Airport Oaks
Auckland 2022
New Zealand
Name : BRIGHTON-BEST INTERNATIONAL (UK) LIMITED
Affiliation type : Sister Company
Address : Unit D1 Cradley Business Park
Overend Road, Cradley Heath
West Midlands B64 7DW
United Kingdom
Name : BRIGHTON-BEST INTERNATIONAL (US) INC.
Affiliation type : Sister Company
Address : 5855 Obispo Avenue
Long Beach, CA 90805
United States
Comments : Brighton-Best International, Inc. distributes
socket screw products. It offers
stainless steel products, socket products, anchors, flat
washers, square washers,
bolts, flange screws, coupling nuts, studs, construction
screws, square bolts,
square nuts, cap screws, timber bolts, hex nuts, structural
bolts, and heavy hex
nuts. The company sells its products through distributors in
the United States and
internationally. Brighton-Best International, Inc. was
formerly known as
Brighton-Best Socket Screw Mfg. Inc. and changed its name to
Brighton-Best
International, Inc. in 2008. The company was founded in 1965
and is based in
Long Beach, California with distribution centers and
locations in the United
States, the United Kingdom, Canada, Brazil, Mexico, New
Zealand, Argentina,
and Australia.
Name : BRIGHTON-BEST INTERNATIONAL (CANADA) INC
Affiliation type : Sister Company
Address : 2100 Codlin Cres
Toronto, Ontario M9W 7J2
Canada
Related companies and corporate
affiliations comments
: Other companies of the Brighton-Best Group should be
considered affiliated
companies of the Subject.
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 : Commercial Registry Filings
Financial statement date : 31/12/11
Type of accounts : Full
audited
Currency : Australia Dollar (AUD)
Exchange rate : 1
USD = AUD 0.95 as of 25-03-2013
Summarized
Financial Information
Consolidation type : Non
Consolidated Non
Consolidated
Currency : Australia
Dollar (AUD) Australia
Dollar (AUD)
Denomination :
(x1) One (x1)
One
Date of financial year end : 31/12/11 31/12/10
Length of accounts : 12
months 12
months
Sale turnover / Income : 13,168,151
11,736,100
Gross profit : 5,266,035
5,279,562
Profit before tax : -2,574,294
-1,119,079
Net income : -1,841,848
-807,420
Non current assets : 11,150,425
10,132,182
Current assets : 25,267,033
19,272,770
Inventories : 19,328,879
14,500,603
Total assets : 36,417,458
29,404,952
Current liabilities : 2,502,316
9,294,344
Non current liabilities : 5,013,687
4,911,370
Total liabilities : 7,516,003
14,205,714
Share equity : 28,901,455
15,199,238
Retained earning : -1,098,545
743,303
Main activities : The Subject is engaged in import and
wholesale distribution of fastener,
screw and bolt products.
The Subject is ultimately owned by Brighton-Best
International (Taiwan)
Inc.
Brighton-Best Internation (Taiwan) Inc. primarily engages in
the distribution
of socket screw products. Its products include finished hex
nuts, hex jam
nuts, heavy hex nuts, machine screw nuts, all metal lock
nuts, stainless
steel hex and lock nuts, and wing and tee nuts.
Product & services : Socket Products:
Socket Cap Screws
Flat Socket Cap Screws
Button Socket Cap Screws
Set Screws
Shoulder Bolts
Low Head Socket Caps / Pipe Plugs
Dowel Pins
Square Head Set Screws
Hex Keys
Metric Socket Products
Metric Set Screws
Metric Dowel Pins / Keys
Cap Screws / Machine Bolts Products:
Grade 2 Hex Cap Screws
Hex Bolts
Grade 5 Hex Cap Screws
Grade 8 Hex Cap Screws
Stainless Hex Cap Screws
Tap Bolts
Hex Lag Screws
Structural Bolts
Structural Nuts
Assorted Bolts
Carriage Bolts
Metric Hex Heads
Screws Products:
Machine Screws
Stainless Steel Machine Screws
Construction Screws
Stainless Steel Self-Tapping Screws
Self-Tapping Screws
Nut Products:
Hex Nuts
Heavy Hex Nuts
Stainless Hex Nuts
Hex Jam Nuts / Machine Screw Nuts
Nylon Insert Locknuts
Stainless Locknuts
All Metal Locknuts
Assorted Nuts
Metric Nuts
Washer Products:
Flat Washers
Assorted Washers
Split Lock Washers
Threaded Products
Anchor Products
Brand : BRIGHTON-BEST
Purchases
International : Taiwan
Sales
Local : Yes
Property
& Assets
Premises : The Subject operates from premises located at the
verified heading
address consisting of a warehouse and administrative office.
Branches : In addition, the Subject operates from the
following branches located at:
11 Stradbroke St
Heathwood, Queensland 4110
Australia
Tel: +61 7 33721890
Unit 3, 420 Victoria Road
Malaga, Western Australia 6090
Australia
Tel: +61 8 62406800
6 Shale Place
Eastern Creek, New South Wales 2766
Australia
Tel: +61 2 88180900
Other property : Total NBV of property, plant and equipment
as of 31-12-2011 was AUD
9,686,362.
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, Prepayment, D/P, Telegraphic transfer,
Credit 30-60 days
Sales
Term
Local : Prepayment, D/P, 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.54.38 |
|
|
1 |
Rs.82.32 |
|
Euro |
1 |
Rs.69.54 |
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.