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Report Date : |
11.10.2013 |
IDENTIFICATION DETAILS
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Name : |
KRANNICH SOLAR PTY LTD |
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Registered Office : |
C/O Jones Louros & Associates Pty Ltd, Suite 2, 70 Lincoln Road, Essendon, Victoria, Zip/Postal Code 3040 |
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Country : |
Australia |
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Date of Incorporation : |
14.12.2011 |
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Com. Reg. No.: |
154785207 |
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Legal Form : |
Australian
Proprietary Company |
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Line of Business : |
importer and distributor of solar products such as :- · Solar Modules · Inverters · Mounting Systems · Data loggers and displays · Accessories · Planning and design, technical support and product trainings services |
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No. of Employees : |
09 employees
including directors |
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 : |
Slow but Correct |
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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.
|
Source : CIA |
Verified Address
Subject name : KRANNICH SOLAR PTY LTD
Business
address : 96 Lambeck Drive
Town : Tullamarine
Province : Victoria
Zip/postal
code : 3043
Country : Australia
Tel : +61 3 93395100
Fax : +61 3 93395199
Email : info@au.krannich-solar.com
Website : www.krannich-solar.com.au
Registered
address : C/o JONES LOUROS &
ASSOCIATES PTY LTD
Suite 2, 70 Lincoln Road
Town : Essendon
Province : Victoria
Zip/postal
code : 3040
Country : Australia
Executive Summary
Date founded
or registered : 14/12/2011
Legal form : Australian
Proprietary Company
Chief
executive : Christopher
Homann
Issued &
paid up capital : AUD 25,000
Sales turnover
: AUD 2,000,000
(Estimated Non-Consolidated 12 months, 30/06/2013)
Line of
business : Import and
distribution of solar products.
Staff employed
: 9 employees
including directors
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
Comments : Larger credit can
be considered if guaranteed by Ultimate Holding Company.
Registry Data
Registration
date : 14/12/2011
Legal form :
Australian Proprietary
Company
Registration
no Australian
Company Number: 154785207
Registered
authority : Australian
Securities and Investments Commission
Fiscal/ Tax no
: Australian
Business Number: 20154785207
Registry
status : Live/Active
Previous name
: None reported.
Change of
legal form : None reported.
Key Management
Name : Christopher
Homann
Designation : Managing Director
Appointments
Name : Sven
Olaf Fleischmann
Designation : Director and Company Secretary
Appointment
date : 14/12/11
Address : 53 The Outlook
Bilgola, NSW 2107
Australia
Biography : Born on 16-03-1967 in Germany.
Name : Christopher Homann
Designation : Director
Appointment
date : 07/03/12
Address : Am Keverbach 6
D-56330 Kobern-Gondorf
Germany
Biography : Born on 23-11-1983 in Germany.
Staff employed
: 9 employees including
directors
Composition
Authorized
Capital : AUD 25,000
No of shares : 25,000 Ordinary Shares
Share par
value : AUD 1
Issued capital
: AUD 25,000
Paid up
capital : AUD 25,000
How listed : Full List
Composition
Shareholder
name : KRANNICH SOLAR AUSTRALIEN
INTERNATIONAL GMBH
Address : Heimsheimer Straße 65/1
D-71263 Weil der Stadt / Hausen
Germany
No. of shares
: 25,000 Ordinary Shares
% of shares : 100%
Structure
Name : KRANNICH SOLAR GMBH
& CO. KG
Affiliation
type : Ultimate
Holding Company
Address : Heimsheimer Straße 65/1
D-71263 Weil der Stadt / Hausen
Germany
Comments : Krannich Solar GmbH & Co.
KG plans and installs photovoltaic systems. It offers
delivery programs and consulting services. The company also
distributes solar
panels, mounting systems, solar modules, inverters for
grid-connected systems
and stand-alone systems, charge controllers, batteries, and
accessories through
its delivery programs. Krannich Solar GmbH & Co. KG was
formerly known as
Krannich Solartechnik and changed its
name to Krannich Solar GmbH & Co. KG
in 2006. The company was founded in 1995 and is based in Weil Der
Stadt,
Germany. Krannich Solar GmbH & Co. KG has locations in Munich,
Germany;
Hainesport, New Jersey; Torino, Italy; Valencia, Spain; Seoul,
Korea; and
Kalochori Thessaloniki, Greece.
Name : KRANNICH SOLAR
AUSTRALIEN INTERNATIONAL GMBH
Affiliation
type : Parent
Company
Address : Heimsheimer Straße 65/1
D-71263 Weil der Stadt / Hausen
Germany
Name : KRANNICH SOLAR INC
Affiliation
type : Sister
Company
Address : 7000 Commerce Parkway,
Suite A
Mount Laurel, NJ 08054
United States
Name : KRANNICH SOLAR AG
Affiliation
type : Sister
Company
Address : Bodenäckerstrasse 1
8957 Spreitenbach
Switzerland
Name : KRANNICH SOLAR LIMITED
Affiliation
type : Sister
Company
Address : Unit 49, Suttons Business
Park
Sutton Park
Avenue
Reading RG6 1AZ
Berkshire
United Kingdom
Related companies and corporate affiliations comments
Other
companies of the Krannich Solar Group should be considered affiliates of the
Subject.
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 : 30/06/13
Type of
accounts : Estimated
key figures
Currency : Australia
Dollar (AUD)
Exchange rate
: 1
USD = AUD 1.06 as of 08-10-2013
Summarized
Financial Information
Consolidation
type : Non
Consolidated
Currency : Australia
Dollar (AUD)
Denomination :
(x1)
One
Date of
financial year end : 30/06/13
Length of
accounts : 12
months
Sale turnover
/ Income :
2,000,000
Comments : The estimated
turnover was provided by Mr. Christopher Homann.
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 $12.5 million,
and
-The company and any entities it controls have fewer than 50
employees at the
end of the financial year.
Main activities : The
Subject engages in import and distribution of solar products. The Subject is
the Australian
member of the Krannich Solar Group based in Germany.
Krannich Solar Group has been a
strong partner to PV installers since 1995, offering everything that drives
forward the energy transformation; in-depth advisory services, effective
logistics and one of Europe's leading product and system range for solar power
generation. With a growing market share, the company is among Europe's top
system providers in the solar power industry. The group is represented by 23
companies in 15 countries worldwide.
Product & services :
· Solar Modules
· Inverters
· Mounting Systems
· Data loggers and displays
· Accessories
· Planning and design, technical support and product trainings services
Brand :
· AXITEC
· FRONIUS
· LUXOR
· SOLAREDGE
· TIGO
Purchases
International
: China, United States,
Germany, South Korea, Israel
Sales
Local : Yes
International
: Thailand, New Zealand,
Japan
Property &
Assets
Premises : The Subject operates from the
verified heading address consisting of a
warehouse and an administrative office.
Branches : None reported.
Gross Domestic
Products (GDP) & Economic Overview
Central bank :
Reserve
Bank of Australia
Reserve of
foreign exchange & gold : US$
46.714 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 : 2010:
2.8%
2011: 3.4%
2012: 2.7%
Unemployment
rate : 2010:
5.2%
2011: 5.1%
2012: 5.2%
Public debt
(General
Government gross debt as
a % GDP) 2010:
20.4%
2011: 22.9%
2012: 24%
Government
bond ratings : Standard
& Poor's: AAA
Moody's rating: Aaa
Moody's outlook: STA
Market value
of publicly traded shares : US$1.198
trillion
Largest
companies in the country : Qantas
Airways (Airline),Coca-Cola Amatil (Beverages), CSL (Biotechs),
Brambles (Business & Personal
Services),Crown Ltd (Casinos &
aming), Amcor (Containers & Packaging),Suncorp-Metway (Diversified
Insurance), BHP Billiton (Diversified Metals & Mining),Newcrest Mining
(Diversified Metals & Mining), Orica (Diversified Metals & Mining),
Iluka Resources (Diversified Metals & Mining), Origin Energy (Electric
Utilities), AGL Energy (Electric Utilities), Wesfarmers (Food Retail),
Woolworths (Food Retail), Metcash (Food Retail), Macquarie Group (Investment
services), AMP (Investment services), Challenger Ltd (Investment services), Fortescue
Metals Group (Iron & Steel), Bluescope Steel (Iron & Steel),
Commonwealth Bank (Major Banks), Westpac Banking Group (Major Banks), National
Australia Bank (Major Banks), ANZ (Major Banks), Woodside Petroleum (Oil &
Gas Operations), Santos (Oil & Gas Operations), Caltex Australia (Oil &
Gas Operations), WorleyParsons (Oil Services & Equipment), Toll Holdings
(Other Transportation), Transurban Group (Other Transportation), QBE Insurance
Group (Property & Casualty Insurance), Insurance Australia Group (Property
& Casualty Insurance), QR National (Railroads), Westfield Group (Real
Estate), Stockland Australia (Real Estate), Westfield Retail Trust (Real
Estate), Lend Lease (Real Estate), CFS Retail Property Trust (Real Estate),
Goodman Group (Real Estate), Bendigo & Adelaide Bank (Regional Banks), Bank
of Queensland (Regional Banks), Incitec Pivot (Specialized Chemicals), Telstra
(Telecommunications Services)
Trade &
Competitiveness Overview
Total exports
: US$263.9
billion
Exports
commodities : Coal, iron ore,
gold, meat, wool, alumina, wheat, machinery and transport
equipment
Total imports
: US$239.7
billion
Imports
commodities : Machinery and
transport equipment, computers and office machines,
telecommunication equipment and parts; crude oil and petroleum
products
Export - major
partners : China 27.4%, Japan
19.2%, South Korea 8.9%, India 5.8%
Import - major
partners : China 18.5%, US
11.4%, Japan 7.9%, Singapore 6.3%, Germany 4.7%
FDI Inflows : 2009: US$26,554
million
2010: US$35,556 million
2011: US$41,317 million
FDI Outflows :
2009: US$16,693
million
2010: US$12,791 million
2011: US$19,999 million
Best countries
for doing business : 10 out of 185 countries
Global
competitiveness ranking : 20 (ranking by country on a basis of 144, the first
is the best)
Country and
Population Overview
Total
population : 22.68
million
Total area : 7,692,024 km2
Capital : Canberra
Currency : Australian
dollars (AUD)
Internet users
as % of total
Population 79%
PAPAYMENT HISTORY
Purchase Term
International
: Telegraphic transfer,
D/P, Credit 30-90 days
Sales Term
Local : Bank transfer,
Prepayment, Credit 30-90 days
International
: Telegraphic transfer,
Credit 30-90 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.62.14 |
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UK Pound |
1 |
Rs.99.02 |
|
Euro |
1 |
Rs.83.87 |
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 |
|
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 |
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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.