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Report Date : |
27.05.2013 |
IDENTIFICATION DETAILS
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Name : |
WARILL
ENGINEERING SALES (AUST) PTY LTD |
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Registered Office : |
C/o LINDSAY BROWN & ASSOCIATES Level 1, 250 Bay Street Brighton Victoria 3186 |
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Country : |
Australia |
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Date of Incorporation : |
15.11.2007 |
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Com. Reg. No.: |
128475507 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Dormant company. The Subject was previously engaged as a manufacturer and distributor of foundry equipment. |
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No. of Employees : |
Nil |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
Dormant |
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Payment Behaviour : |
-- |
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Litigation : |
-- |
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 |
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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.
Source
: CIA
Verified Address
Subject name : WARILL ENGINEERING SALES (AUST) PTY
LTD
Business address :
16 Lanyon Street
Town : Dandenong
Province : Victoria
Zip/postal code : 3175
Country : Australia
Tel : +61 3 97948400
Fax : +61 3 97947232
Email : jenny@wesomega.com.au
/ info@warill.com.au
Website : www.warill.com.au
Registered address
: C/o LINDSAY BROWN & ASSOCIATES
Level 1, 250 Bay Street
Town : Brighton
Province : Victoria
Zip/postal code : 3186
Country : Australia
Comments : The representative contacted
advised that the business assets of the Subject
have been taken over by another entity WES OMEGA FOUNDRY MACHINERY
PTY LTD under the Australian Company Number: 158495679 since August 1,
2012. The Subject is now a dormant company and will soon be winding up.
The
directors of the Subject are also directors of the successor company WES
OMEGA FOUNDRY MACHINERY PTY LTD.
Executive Summary
Date founded or
registered : 15/11/2007
Legal form : Australian
Proprietary Company
Chief executive : Leslie Robert Craig
Issued & paid
up capital : AUD 350
Line of business :
Dormant company. The
Subject was previously engaged as a manufacturer and
distributor of foundry equipment.
Staff employed : Nil (Subject)
Company Analysis
Country risk : Country risk is
minimal
Operation trend : Operational trend is
stalled (dormant)
Management
experience : Management is
inadequately experienced
Financial
performance : Financial
performance is undetermined
Organization
structure : Organizational
structure is flawed
Detrimental : Serious
detrimental found
Payment history : Payment punctuality is
undetermined
Credit amount
suggestion : Fully secured terms.
Credit amount
asked : Not described.
Comments : It
is strictly advisable not to conduct any business dealings with the Subject due
to the Subject's dormant status.
The representative contacted advised that the business assets of the
Subject
have been taken over by another entity WES OMEGA FOUNDRY MACHINERY
PTY LTD under the Australian Company Number: 158495679 since August 1,
2012. The Subject is now a dormant company and will soon be winding up.
The
directors of the Subject are also directors of the successor company WES
OMEGA FOUNDRY MACHINERY PTY LTD.
Registry Data
Registration date
: 15/11/2007
Legal form : Australian Proprietary Company
Registration no Australian Company Number:
128475507
Registered
authority : Australian Securities and
Investments Commission
Fiscal/ Tax no : Australian Business
Number: 89128475507
Registry status : Dormant
Previous name : None reported.
Change of legal
form : None reported.
Key Management
Name : Leslie Robert Craig
Designation : Managing Director
Appointments
Name : Leslie Robert Craig
Designation : Director and Company Secretary
Appointment date :
15/11/07
Address : 58 Strickland Drive
Wheelers Hill, VIC 3150
Australia
Biography : Born on 24/03/1956 in
Melbourne, Victoria, Australia.
Name : Peter Dimopoulos
Designation : Director
Appointment date :
15/11/07
Address : 283 Victoria Road
Thornbury, VIC 3071
Australia
Biography : Born on 14/05/1971 in
Melbourne, Victoria, Australia.
Staff employed : Nil (Subject)
Composition
Authorized Capital
: AUD 350
No of shares : 350 Ordinary Shares
Share par value : AUD 1
Issued capital : AUD 350
Paid up capital : AUD 350
How listed : Full List
Composition
Shareholder name :
Leslie Robert Craig
Address : 58 Strickland Drive
Wheelers Hill, VIC 3150
Australia
No. of shares : 200 Ordinary Shares
Shareholder name :
Peter Dimopoulos
Address : 283 Victoria Road
Thornbury, VIC 3071
Australia
No. of shares : 150 Ordinary Shares
Structure
Name : WES OMEGA FOUNDRY
MACHINERY PTY LTD
Affiliation type :
Successor Company
Address : 16 Lanyon Street
Dandenong, VIC 3175
Australia
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
Comments : The Subject is a dormant company hence
financial information is not available
with Australian Securities & Investments Commission.
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 now a dormant
company. The Subject was previously
engaged as a manufacturer and distributor of foundry equipment.
Purchases
Local : None reported.
International : None reported.
Sales
Local : None reported.
International : None reported.
Key events : WES
Omega Foundry Machinery Pty Ltd - A new joint venture to benefit
the foundry
industry
Warill Engineering
Sales (Aust) Pty Ltd, (WES) as of August 1st, 2012 has
formed a joint
venture company with Omega Foundry Machinery Ltd based
in the UK.
The new company
will be known as WES Omega Foundry Machinery Pty
Ltd, which will be
based at the existing WES premises located in
Dandenong. The
company will be headed by Les Craig (Managing
Director) and Peter
Dimopoulos (Technical Director).
WES Omega will be
in a position to manufacture all the Omega product
range along with
the continuation of the existing WES equipment, WES
Omega will seek to
see the improvement and extension of the pre-existing
equipment range
servicing the foundry industry in Australia, New Zealand
and parts of
South-East Asia.
All correspondence
and communication with existing staff at WES will
remain the same.
Products such as
mould handling and reclamation will be significantly
bolstered by this
formation and it is planned to erect a pilot plant for the
testing of local
foundries sand by both thermal and secondary attrition
means.
With both
Companies long history of design and manufacture of Foundry
Equipment, WES
Omega seeks to further develop and improve its foundry
machinery and
reinforce its relationship with both existing and new
customers.
Source:
www.warill.com.au
Property & Assets
Premises : The
Subject was previously operating from premises at the verified heading
address consisting
of an administrative office, production facility and
warehouse however
the premises is now taken over by WES OMEGA
FOUNDRY MACHINERY
PTY LTD.
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
Local : None
International : None
Sales Term
Local : None
International : None
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.
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.55.61 |
|
|
1 |
Rs.83.98 |
|
Euro |
1 |
Rs.71.94 |
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 |
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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 |
|
-- |
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.