MIRA INFORM REPORT
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Report Date : |
28.05.2013 |
IDENTIFICATION DETAILS
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Name : |
HINDUSTAN IMPORTS & EXPORTS PTY. LIMITED |
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Registered Office : |
50 Greens
Road, Dandenong South, Victoria, Zip postal
code 3175 |
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Country : |
Australia |
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Date of Incorporation : |
11.02.1982 |
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Com. Reg. No.: |
005971979 |
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Legal Form : |
Australian
Proprietary Company |
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Line of Business : |
Import,
wholesale, retail and online sales of groceries products |
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No. of Employees : |
17 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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
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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 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 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 :
HINDUSTAN IMPORTS
& EXPORTS PTY. LIMITED
Other style /
Business name : HINDUSTAN IMPORTS
Business
address : 50 Greens
Road
Town : Dandenong
South
Province : Victoria
Zip/postal
code : 3175
Country : Australia
Tel : +61 3 97946640
Fax : +61 3
97068140
Email : enquiries@hindustan.com.au
Website : www.hindustan.com.au
Registered
address : 50 Greens Road
Town : Dandenong
South
Province : Victoria
Zip/postal
code : 3175
Country : Australia
Executive Summary
Date founded
or registered : 11/02/1982
Legal form : Australian Proprietary
Company
Chief
executive : Vincent
Alexander Sequeira
Issued &
paid up capital : AUD 2
Sales turnover
: AUD 8,000,000
(Estimated Non-Consolidated 12 months, 30/06/2012)
Line of
business : Import,
wholesale, retail and online sales of groceries products.
Staff employed
: 17 employees
Company Analysis
Country risk : Country risk is
minimal
Operation
trend : Operational
trend is steady
Management
experience : Management is
adequately experienced
Financial
performance : Financial
performance is fair
Organization
structure : Organizational
structure is stable
Detrimental : No
detrimental found
Payment
history : No payment
delays noted
Registry Data
Registration
date : 11/02/1982
Legal form : Australian Proprietary Company
Registration
no Australian Company Number:
005971979
Registered
authority : Australian Securities &
Investments Commission
Fiscal/ Tax no
: Australian Business Number:
91005971979
Registry
status : Live/Active
Previous name
: None reported.
Change of
legal form : None reported.
Other
registration : HINDUSTAN IMPORTS
is a business name owned by the Subject registered on
25/08/1988 under business registration no: 0876843F.
Key Management
Name : Vincent Alexander
Sequeira
Designation : Managing Director
Name : Gerrad Murray
Designation : Office Manager
Name : Kenneth Sequeira
Designation : Retail & Wholesale Manager
Name : Alex Sequeira
Designation : IT Manager
Appointments
Name : Vincent Alexander
Sequeira
Designation : Director and Company Secretary
Appointment
date : 12/02/82
Address : 20 Gregory Court
Keysborough, VIC 3173
Australia
Biography : Born on 12-12-1947 in India.
Staff employed
: 17 employees
Composition
Authorized
Capital : AUD 2
No of shares :
2 Ordinary Shares
Share par
value : AUD 1
Issued capital
: AUD 2
Paid up capital : AUD
2
How listed : Full List
Composition
Shareholder
name : Vincent Alexander Sequeira
Address : 20 Gregory Court
Keysborough, VIC 3173
Australia
No. of shares
: 2 Ordinary Shares
% of shares : 100%
Structure
Related
companies and corporate affiliations comments :
None reported.
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
Source of
financial statement : Provided by the
Subject
Financial
statement date : 30/06/12
Type of
accounts : Estimated
key figures
Currency : Australia Dollar
(AUD)
Exchange rate
: 1 USD = AUD 1.04
as of 27-05-2013
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 : 8,000,000
Comments : The estimated
turnover was provided by Mr. Vincent Alexander Sequeira.
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 $12.5 million,
and
-The company and any entities it controls have fewer than 50
employees at the
end of the financial year.
Main
activities : The
Subject is engages in import, wholesale, retail and online sales of groceries
products.
The Subject sells its products through a retail store and online
Product & services :
· Ahmed Brand
· Beans, Dhals & Lentils
· Bedekar Pickles
· Bolst's Brand
· Canned Fish
· Cereals
· Chinese Products
· Coconut Products
· Cooking Wine & Vinegar
· Corned Beef & Mutton
· Dried Fish
· Ferns Brand
· Fijian & Islander Products
· Flour
· Food Colours & Essences
· Food Service
· Food Supplements & Medicinal
· Fruit (Dried)
· Ghee & Oil
· Gits Brand
· Goan Products
· Haldiram's Brand
· Herbs (Dried)
· Hindustan
· Indian (Misc) Products
· Jam, Marmalade, Spreads
· Larich Brand
· Malaysian Products
· Mangal Brand
· Mauritian Products
· Nuts (Edible)
· Pachranga Pickles
· Pakistani (Misc) Products
· Papadums. Vadis. Vermicelli
· Parampara Brand
· Patak's Brand
· Priya Brand
· Rice
· Shan Brand
· Snacks - Hindustan Brand
· Snacks - Other Brands
· South African Products
· Spices. Blends & Seasoning
· Sri Lankan (Misc) Products
· Sugar & Jaggery
· Tamarind
· Tea & Coffee
Purchases
International
: India, Sri Lanka, South
Africa, Europe, Fiji, Malaysia, Pakistan, China, Brazil
Sales
Local : Yes
International
: New Zealand
Property &
Assets
Premises : The Subject operates from
premises at the verified heading address consisting of an
administrative office, warehouse and retail store.
Branches : None reported.
Intellectual
property : HACCP certified.
Central bank : Reserve Bank of Australia
Reserve of foreign exchange & gold : US$ 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, D/P, Credit 30-90 days
Sales Term
Local : Cash, Credit card, Bank
transfer, D/P, Credit 30-90 days
International
: Prepayment, Telegraphic
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.55.62 |
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UK Pound |
1 |
Rs.84.18 |
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Euro |
1 |
Rs.71.96 |
INFORMATION DETAILS
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Report Prepared
by : |
MNL |
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 |
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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.