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Report Date : |
14.10.2013 |
IDENTIFICATION DETAILS
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Name : |
UNITED WOOL COMPANY PTY LTD |
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Registered Office : |
C/O Cd &
G Accountants Pty Ltd Level 2, 235
Ryrie Street, Geelong, Victoria, Zip/Postal Code 3220 |
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Country : |
Australia |
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Date of Incorporation : |
31.05.2013 |
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Com. Reg. No.: |
164061198 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
exporter of wool |
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No. of Employees : |
Directors are the only employees of
the Subject |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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---- |
NB |
New Business |
---- |
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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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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, 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 :
UNITED WOOL COMPANY PTY LTD
Business
address : 'Gate 4', 5-29 Frederick
Road
Town : Tottenham
Province : Victoria
Zip/postal
code : 3012
Country : Australia
Tel : +61 3 93153063
Registered
address : C/o CD & G ACCOUNTANTS
PTY LTD
Level 2, 235 Ryrie Street
Town : Geelong
Province : Victoria
Zip/postal
code : 3220
Country : Australia
Executive Summary
Date founded
or registered : 31/05/2013
Legal form : Australian
Proprietary Company
Chief
executive : Matthew
Hand
Issued &
paid up capital : AUD 78
Line of
business : Exporter
of wool.
Staff employed
: Directors are the
only employees of the Subject
Company Analysis
Country risk :
Country risk
is minimal
Operation
trend : Operational
trend is in start-up phase
Management
experience : Management is
inadequately experienced
Financial
performance : Financial
performance is undetermined
Organization
structure : Organizational
structure is acceptable
Detrimental : No
detrimental found
Payment
history : Payment
punctuality is undetermined
Registry Data
Registration
date : 31/05/13
Legal form : Australian
Proprietary Company
Registration
no Australian
Company Number: 164061198
Registered
authority : Australian
Securities and Investments Commission
Fiscal/ Tax no
: Australian Business Number: 84164061198
Registry
status : Live/Active
Previous name
: None reported.
Change of
legal form : None reported.
Key Management
Name : Matthew Hand
Designation : Managing Director
Appointments
Name : Matthew Hand
Designation : Director and Company Secretary
Appointment
date : 31/05/13
Address : 650 Pollocksford Road
Gnarwarre, VIC 3221
Australia
Biography : Born on 03-09-1970 in Hobart,
Tasmania, Australia.
Name : Andrew Ian Jackson
Designation : Director
Appointment
date : 12/09/13
Address : 73 Mahoneys Road
Riddells Creek, VIC 3431
Australia
Biography : Born on 10-05-1977 in Broken
Hill, New South Wales, Australia.
Name : Nigel Robert Rendell
Designation : Director
Appointment
date : 12/09/13
Address : 6 Trentwood Drive
Highton, VIC 3216
Australia
Biography : Born on 24-06-1978 in
Warrnambool, Victoria, Australia.
Staff employed
: Directors are the only
employees of the Subject
Composition
Authorized
Capital : AUD 78
No of shares : 78 Ordinary Shares
Share par
value : AUD 1
Issued capital
: AUD 78
Paid up
capital : AUD 78
How listed : Full List
Composition
Shareholder
name : GEELONG WOOL COMPANY PTY LTD
Address : C/o CD & G ACCOUNTANTS
PTY LTD
Level 2, 235 Ryrie Street
Geelong, VIC 3220
Australia
No. of shares
: 34 Ordinary Shares
Shareholder
name : JACKSON & DAUGHTERS PTY
LTD
Address : Melbourne, VIC 3000
Australia
No. of shares
: 22 Ordinary Shares
Shareholder
name : WOOLLY DAGS PTY LTD
Address : C/o CD & G ACCOUNTANTS
PTY LTD
Level 2, 235 Ryrie Street
Geelong, VIC 3220
Australia
No. of shares
: 22 Ordinary Shares
Structure
Related
companies and corporate affiliations comments
: None
reported.
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.
Comments : Due to the Subject’s recent
date of establishment, financial information is not available.
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 $12.5 million, and
-The
company and any entities it controls have fewer than 50 employees at the
end of
the financial year.
Main
activities : The
Subject engages in export of wool.
Product &
services : Wool
Purchases
Local : Yes
International
: None reported.
Sales
Local : None reported.
International
: Mainly to Asia
Property &
Assets
Premises : The Subject operates from the
verified heading address consisting of a
warehouse and administrative office.
Branches : None reported.
Gross Domestic
Products (GDP) & Economic Overview
Central bank :
Reserve
Bank of Australia
Reserve of
foreign exchange & gold : US$
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%
PAY
Purchase Term
Local : Bank transfer, Credit
30 days
Sales Term
International
: 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.
Investigation Note
Sources : Interviews and material
provided by the Subject
Other official and local business sources
NT HISTORY
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.16 |
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UK Pound |
1 |
Rs.97.77 |
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Euro |
1 |
Rs.82.78 |
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 |
|
---- |
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.