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Report Date : |
07.05.2013 |
IDENTIFICATION DETAILS
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Name : |
WORLDWIDE ENERGY AND MANUFACTURING AUSTRALIA PTY LTD |
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Registered Office : |
Unit 33, 92 Larbert Street Acacia Ridge Queensland 4110 |
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Country : |
Australia |
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Date of Incorporation : |
26.07.2012 |
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Com. Reg. No.: |
159663322 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Distribution and installation of solar panels. |
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No. of Employees : |
5 employees |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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---- |
NB |
New Business |
---- |
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Status : |
New Business |
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Payment Behaviour : |
Unknown |
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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 – March, 31st, 2013
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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Australia |
A2 |
A2 |
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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 : WORLDWIDE
ENERGY AND MANUFACTURING AUSTRALIA PTY LTD
Other style / Business name : AUSTRALIAN
SOLAR PANEL
Business address : Unit
4, 29 Bellrick Street
Town : Acacia
Ridge
Province : Queensland
Zip/postal code : 4110
Country : Australia
Tel : +61
7 31620075
Fax : +61
7 33196991
Email : info@australiansolarpanel.com.au
Website : www.australiansolarpanel.com.au
Registered address : Unit
33, 92 Larbert Street
Town : Acacia
Ridge
Province : Queensland
Zip/postal code : 4110
Country : Australia
Executive Summary
Date founded or registered : 26/07/2012
Legal form : Australian
Proprietary Company
Chief executive : Nikunjkumar
Chimanlal Patel
Issued & paid up capital : AUD
100
Line of business : Distribution
and installation of solar panels.
Staff employed : 5
employees
Company Analysis
Country risk : Country
risk is minimal
Operation trend : Operational
trend is in start-up phase
Management experience : Management
is inadequately experienced
Financial performance : Financial
performance is undetermined
Organization structure : Organizational
structure is acceptable
Detrimental : No
detrimental found
Payment history : No
payment delays noted
Credit amount suggestion : Fully
secured terms.
Registry Data
Registration date : 26/07/2012
Legal form : Australian
Proprietary Company
Registration no Australian Company Number: 159663322
Registered authority : Australian
Securities and Investments Commission
Fiscal/ Tax no : Australian Business Number: 88159663322
Registry status : Live/Active
Previous name : None
reported.
Change of legal form : None
reported.
Other registration
: AUSTRALIAN
SOLAR PANEL is a business name owned by the Subject registered on 01/08/2012.
Key Management
Name : Nikunjkumar
Chimanlal Patel
Designation : Managing
Director
Appointments
Name : Nikunjkumar
Chimanlal Patel
Designation : Director
and Company Secretary
Appointment date : 26/07/12
Address : Unit
33, 92 Larbert Street
Acacia Ridge, QLD 4110
Australia
Biography : Born
on 04/01/1981 in Vijapur, India.
Staff employed : 5
employees
Composition
Authorized Capital : AUD
100
No of shares : 10,000
Ordinary Shares
Share par value :
AUD 0.01
Issued capital :
AUD 100
Paid up capital : AUD
100
How listed : Full
List
Composition
Shareholder name : Nikunjkumar
Chimanlal Patel
Address : Unit
33, 92 Larbert Street
Acacia Ridge, QLD 4110
Australia
No. of shares : 10,000
Ordinary Shares
% of shares : 100%
Related companies and corporate affiliations comments: None reported.
Bank Details
Name of bank : Commonwealth
Bank of Australia
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
Comments : Due to
the Subject’s recent date of establishment, financial information is not
available.
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 $12.5 million, and
-The company and any entities it controls
have fewer than 50 employees at the end of the financial year.
Main activities : The
Subject engages in distribution and installation of solar panels.
Product & services : Products
- Black Panel Series Modules
- Silver Series Solar Panels
Services
-Installation services
- Technical support to installers, dealers
and distributors for scoping and
planning installations.
Purchases
International : China
Sales
Local : Yes
International : No
exports.
Property &
Assets
Premises : The Subject
operates from premises at the verified heading address consisting of a
warehouse and administrative office.
Branches : None
reported.
Gross Domestic
Products (GDP) & Economic Overview
Central bank : Reserve
Bank of Australia
Reserve of foreign exchange & gold : US$ 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,
Cash, Bank transfer, 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.53.95 |
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1 |
Rs.84.03 |
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Euro |
1 |
Rs.70.72 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
---- |
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.