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Report Date : |
18.05.2013 |
IDENTIFICATION DETAILS
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Name : |
Smenco Pty Ltd |
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Registered Office : |
1 Longview Court, Thomastown, Victoria 3074 |
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Country : |
Australia |
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Date of Incorporation : |
04.06.2004 |
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Com. Reg. No.: |
109272602 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Import and Distribution of Welding Equipment
and Related Products. |
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No. of Employees : |
40 |
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 : |
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Australia |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
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.
Source
: CIA
Verified Address
Subject name : SMENCO PTY LTD
Other style / Business name : PERFECT WELDING PRODUCTS / FRONIUS / MESSER
CUTTING
SYSTEMS AUSTRALIA
Business address : 1 Longview Court
Town : Thomastown
Province : Victoria
Zip/postal code : 3074
Country : Australia
Tel : +61
3 94664060
Fax : +61
3 94642106
Email : pwp@smenco.com.au / fronius@smenco.com.au
Website : www.smenco.com.au
Registered address : 1 Longview Court
Town : Thomastown
Province : Victoria
Zip/postal code : 3074
Country : Australia
Executive Summary
Date founded or registered : 04/06/2004
Legal form : Australian
Proprietary Company
Chief executive : Anthony Paul Thomas England
Issued & paid up capital : AUD 1,295,092
Line of business : Import and distribution of welding equipment and
related products.
Staff employed : 40 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
undetermined
Organization structure : Organizational structure is stable
Detrimental : No
detrimental found
Payment history : No payment delays noted
Credit amount asked : Not described.
Registry Data
Registration date : 04/06/2004
Legal form : Australian
Proprietary Company
Registration no Australian Company Number: 109272602
Registered authority : Australian Securities and Investments Commission
Fiscal/ Tax no : Australian Business Number: 51109272602
Registry status : Live/Active
Previous name : None reported.
Change of legal form : None reported.
Key Management
Name : Anthony
Paul Thomas England
Designation : Managing
Director
Name : Vesna
England
Designation : Chief
Financial Officer
Appointments
Name : Anthony
Paul Thomas England
Designation : Director
and Company Secretary
Appointment date : 29/06/04
Address : 10
Arthur Streeton Place Diamond Creek, VIC 3089 Australia
Biography : Born
on 22-09-1962 in Melbourne, Victoria, Australia.
Name : Vesna
England
Designation : Director
Appointment date : 20/06/05
Address : 10
Arthur Streeton Place Diamond Creek, VIC 3089 Australia
Biography : Born
on 17-03-1960 in Melbourne, Victoria, Australia.
Name : Martin
Leslie Courtnay
Designation : Director
Appointment date : 20/06/05
Address : 27
Arbour Place Doonan, QLD 4562 Australia
Biography : Born
on 22-05-1965 in Preston, Victoria, Australia.
Staff employed : 40 employees
Composition
Authorized Capital : AUD 1,295,092
No of shares : 1,295,092 Ordinary Shares
Share par value : AUD 1
Issued capital : AUD 1,295,092
Paid up capital : AUD 1,295,092
How listed : Full
List
Composition
Shareholder name : Wendy O'Brien
Address : 51
Scott Street Mortlake, VIC 3272 Australia
No. of shares : 105,007 Ordinary Shares
Shareholder name : VEAK PTY LTD
Address : 10
Arthur Streeton Place Diamond Creek, VIC 3089 Australia
No. of shares : 980,070 Ordinary Shares
Shareholder name : T.R.A.M.A.N. INVESTMENTS PTY LTD
Address : 27
Arbour Place Doonan, QLD 4562 Australia
No. of shares : 210,015 Ordinary Shares
Structure
Name : PAUL
ENGLAND AND STAFF PTY. LTD.
Affiliation type : Ultimate Holding Company
Address : 313
Pascoe Vale Road Essendon, VIC 3040 Australia
Comments : PAUL
ENGLAND AND STAFF PTY. LTD. provides engineering services such as precision cutting and dynamic balancing of
rotating equipment for a variety of sectors.
Name : VEAK
PTY LTD
Affiliation type : Parent Company
Address : 10
Arthur Streeton Place Diamond Creek, VIC 3089 Australia
Comments : Investment
holding company.
Name : T.R.A.M.A.N.
INVESTMENTS PTY LTD
Affiliation type : Shareholder
Address : 27
Arbour Place Doonan, QLD 4562 Australia
Bank Details
Name of bank : National Australia Bank 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
Comments : The
representative contacted declined to provide any financial information
until the inquiring party details are
revealed.
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 $12.5 million, and -The company and
any entities it controls have fewer than 50 employees at the end of the
financial year.
Main activities : The
Subject is engages in import and distribution of welding equipment and related products.
Product & services : Welding equipment and products
Welding automation and robotic equipment
Wear protection products
Brand : Fronius
BÖHler Welding
Castolin Eutectic
ProArc
Kemper
BUG-O
Purchases
International : Germany, United States, Taiwan, China
Sales
Local : Yes
International : New Zealand
Property & Assets
Premises : Subject
operates from premises at the verified heading address consisting of a administrative office and warehouse.
Branches : In
addition, the Subject operates from branch offices located at:
Unit 1/1 Samantha
Place
Smeaton Grange,
NSW 2567
Australia Tel: +61
2 46470073
Fax: +61 2
98266701
Unit 1/1 Elayne
Street
Underwood, QLD
4119
Australia
Tel: +61 7
38081608
Fax: +61 7
32904109
Unit 2, 26 Ernest
Clark Road
Canning Vale, WA
6155
Australia
Tel: +61 8
92563229
Fax: +61 8
94564554
Gross Domestic Products (GDP) & Economic Overview
Central bank : Reserve Bank of Australia
Reserve of foreign exchange & gold : US$ 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: 1.8%
2010: 2.8%
2011: 3.4%
Public debt 2009:
16.9%
(General Government gross debt as 2010: 20.4%
a % GDP) : 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 76%
population :
Purchase Term
International : Prepayment, Telegraphic
transfer, Credit 30-60 days
Sales Term
Local : Prepayment,
Bank transfer, Credit 30-60 days
International : Prepayment, Telegraphic
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.54.89 |
|
|
1 |
Rs.83.66 |
|
Euro |
1 |
Rs.70.58 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
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 |
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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 |
|
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 |
|
<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.