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Report Date : |
16.05.2013 |
IDENTIFICATION DETAILS
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Name : |
STORAGE EQUIPMENT PTY LIMITED |
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Registered Office : |
C/O Gould Ralph Pty Limited, Level 42, Suncorp Place, 259 George Street, Sydney, New South Wales, Zip/Postal Code : 2000 |
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Country : |
Australia |
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Date of Incorporation : |
19.06.2009 |
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Com. Reg. No.: |
137783227 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Import and
sales of storage equipment |
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No. of Employees : |
Mr. Stephen Richard Heynes Pembshaw is the only director and employee of the Subject |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small Company |
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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 – March 31st 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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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
The Australian economy has experienced continuous growth and features low unemployment, contained inflation, very low public debt, and a strong and stable financial system. By 2012, Australia had experienced more than 20 years of continued economic growth, averaging 3.5% a year. Demand for resources and energy from Asia and especially China has grown rapidly, creating a channel for resources investments and growth in commodity exports. The high Australian dollar has hurt the manufacturing sector, while the services sector is the largest part of the Australian economy, accounting for about 70% of GDP and 75% of jobs. Australia was comparatively unaffected by the global financial crisis as the banking system has remained strong and inflation is under control. Australia has benefited from a dramatic surge in its terms of trade in recent years, stemming from rising global commodity prices. Australia is a significant exporter of natural resources, energy, and food. Australia's abundant and diverse natural resources attract high levels of foreign investment and include extensive reserves of coal, iron, 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 is an open market with minimal restrictions on imports of goods and services. The process of opening up has increased productivity, stimulated growth, and made the economy more flexible and dynamic. Australia plays an active role in the World Trade Organization, APEC, the G20, and other trade forums. Australia has bilateral free trade agreements (FTAs) with Chile, Malaysia, New Zealand, Singapore, Thailand, and the US, has a regional FTA with ASEAN and New Zealand, is negotiating agreements with China, India, Indonesia, Japan, and the Republic of Korea, as well as with its Pacific neighbors and the Gulf Cooperation Council countries, and is also working on the Trans-Pacific Partnership Agreement with Brunei Darussalam, Canada, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore, the US, and Vietnam.
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Source : CIA |
Verified Address
Subject name :
STORAGE EQUIPMENT PTY LIMITED
Business
address : 17 Doune Place
Town : Willetton
Province : Western Australia
Zip/postal
code : 6155
Country : Australia
Tel : +61 412552782
Registered
address : C/o GOULD RALPH PTY LIMITED
Level 42, Suncorp Place
259 George Street
Town : Sydney
Province : New South Wales
Zip/postal
code : 2000
Country : Australia
Comments : The Subject does not operate
from a physical office in Australia and all
correspondence is conducted through the Subject’s director
residential
premises verified above.
Executive Summary
Date founded
or registered : 19/06/2009
Legal form : Australian
Proprietary Company
Chief
executive : Stephen Richard Heynes Pembshaw
Issued &
paid up capital : AUD 1
Sales turnover
: AUD 500,000
(Estimated Non-Consolidated 12 months, 30/06/2012)
Line of
business : Import and
sales of storage equipment.
Staff employed
: Mr. Stephen
Richard Heynes Pembshaw is the only director and employee of the
Subject
Company Analysis
Country risk :
Country risk
is minimal
Operation
trend : Operational
trend is in start-up phase
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 : 19/06/2009
Legal form : Australian
Proprietary Company
Registration
no Australian
Company Number: 137783227
Registered
authority : Australian
Securities and Investments Commission
Fiscal/ Tax no
: Australian
Business Number: 90137783227
Registry
status : Live/Active
Previous name
: None reported.
Change of
legal form : None reported.
Key Management
Name : Stephen Richard Heynes
Pembshaw
Designation : Managing Director
Appointments
Name : Stephen Richard Heynes
Pembshaw
Designation : Director and Company Secretary
Appointment
date : 18/02/13
Address : 17 Doune Place
Willetton, WA 6155
Australia
Biography : Born on 19-07-1955 in
Adelaide, South Australia, Australia.
Staff employed
: Mr. Stephen Richard Heynes
Pembshaw is the only director and employee of the Subject
Composition
Authorized
Capital : AUD 1
No of shares : 1 Ordinary Share
Share par
value : AUD 1
Issued capital
: AUD 1
Paid up capital : AUD
1
How listed : Full List
Composition
Shareholder
name : Fiona Heynes-Brock
Address : Unit 8, 25 Boomerang Street
Kingscliff, NSW 2487
Australia
No. of shares
: 1 Ordinary Share
% of shares : 100%
Structure
Name : HIRACK PTY LIMITED
Affiliation
type : Associate
Address : Unit 8, 25 Boomerang
Street
Kingscliff, NSW 2487
Australia
Bank Details
Name of bank :
Bankwest
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 1.01 as of 15-05-2013
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 : 500,000
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 $12.5 million,
and
-The company and any entities it controls have fewer than 50
employees at the
end of the financial year.
Main
activities : The
Subject engages in import and sales of storage equipment.
Purchases
International
: China
Sales
Local : Yes
International
: No exports.
Property &
Assets
Premises : The Subject operates from
residential premises at the verified heading
address consisting of an administrative office.
Branches : None reported.
Central bank : Reserve Bank of Australia
Reserve of foreign exchange & gold : US$ 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 2009: 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 days
Sales Term
Local : 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
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.54.77 |
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UK Pound |
1 |
Rs.83.31 |
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Euro |
1 |
Rs.70.46 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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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 |
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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.