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Report Date : |
05.09.2013 |
IDENTIFICATION DETAILS
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Name : |
MACSIM FASTENINGS PTY LTD |
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Registered Office : |
10 Wonderland Drive Eastern Creek New South Wales 2766 |
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Country : |
Australia |
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Financials (as on) : |
30.06.2013 |
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Date of Incorporation : |
05.09.1946 |
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Com. Reg. No.: |
BN98612559. |
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Legal Form : |
Australian
Proprietary Company |
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Line of Business : |
Import
and distribution of fasteners, drilling and anchoring systems. |
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No. of Employees : |
120 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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
|
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
Subject name :
MACSIM FASTENINGS PTY LTD
Other style / Business name :
ECLIPSE FASTENERS (AUST)
Business address :
10 Wonderland Drive
Town :
Eastern Creek
Province :
New South Wales
Zip/postal code :
2766
Country :
Australia
Tel :
+61 2 98812400
Fax :
+61 2 98812444
Email :
info@macsim.com.au
Website :
www.macsim.com.au
Registered address :
10 Wonderland Drive
Town :
Eastern Creek
Province :
New South Wales
Zip/postal code :
2766
Country :
Australia
Postal address :
P.O. Box 6684
Town :
Wetherill Park
Province :
New South Wales
Zip/postal code :
2164
Country :
Australia
Executive Summary
Date founded or registered :
05/09/1946
Legal form :
Australian Proprietary Company
Chief executive :
Fraser Mackay-Sim
Issued & paid up capital :
AUD 7,980
Sales turnover :
AUD 28,000,000 (Estimated Non-Consolidated 12 months, 30/06/2013)
Line of business :
Import and distribution of fasteners, drilling and anchoring systems.
Staff employed :
120 employees
Company Analysis
Country risk :
Country risk is minimal
Operation trend :
Operational trend is steady
Management experience :
Management is extremely experienced
Financial performance :
Financial performance is good
Organization structure :
Organizational structure is consistent
Detrimental : No
detrimental found
Payment history :
No payment delays noted
Registry Data
Registration date :
05/09/1946
Legal form :
Australian Proprietary Company
Registration no Australian Company Number : 000056119
Registered authority :
Australian Securities and Investments Commission
Fiscal/ Tax no :
Australian Business Number: 30000056119
Registry status :
Live/Active
Previous name :
MACSIM DISTRIBUTORS PTY LTD (initial)
Change of legal form :
None reported.
Other registration :
ECLIPSE FASTENERS (AUST) is a business name owned by the Subject registered on
04/01/2012 under business registration no: BN98612559.
Key Management
Name :
Fraser Mackay-Sim
Designation :
Managing Director
Name :
Victor D'Morias
Designation :
Chief Financial Officer
Appointments
Name :
Kay Beverley Mackay-Sim
Designation :
Director and Company Secretary
Appointment date :
04/11/91
Address :
128 Kangaroo Point Road
Kangaroo Point, NSW 2224
Australia
Biography :
Born on 13-09-1947 in Glen Innes, New South Wales, Australia.
Name :
Fraser Mackay-Sim
Designation :
Director
Appointment date :
29/11/82
Address :
128 Kangaroo Point Road
Kangaroo Point, NSW 2224
Australia
Biography :
Born on 12-06-1947 in Sydney, New South Wales, Australia.
Staff employed : 120
employees
Key Advisors
Auditors :
I.K. O'BRIEN & CO
Suite 1004, Level 10
83 Mount Street
North Sydney, NSW 2060
Australia
Composition
Authorized Capital : AUD
7,980
No of shares :
3,990 Ordinary Shares
Share par value : AUD
2
Issued capital : AUD
7,980
Paid up capital : AUD
7,980
How listed :
Full List
Composition
Shareholder name : Kay
Beverley Mackay-Sim
Address :
128 Kangaroo Point Road
Kangaroo Point, NSW 2224
Australia
No. of shares :
1,005 Ordinary Shares
Shareholder name : Fraser Mackay-Sim
Address :
128 Kangaroo Point Road
Kangaroo Point, NSW 2224
Australia
No. of shares :
2,985 Ordinary Shares
Structure
Name :
MACSIM PROPERTIES PTY. LTD.
Affiliation type :
Associate
Address : 10
Wonderland Drive
Eastern Creek, NSW 2766
Australia
Name :
MASBOLT FASTENERS PTY LTD
Affiliation type :
Associate
Address : 10
Wonderland Drive
Eastern Creek, NSW 2766
Australia
Name :
MACSIM FASTENINGS (NZ) PTY LIMITED
Affiliation type :
Associate
Address : 5
Fisher Crescent
Mt Wellington, Auckland 1060
New Zealand
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 1.09 as of 04-09-2013
Summarized Financial
Information
Consolidation type : Non
Consolidated Non Consolidated
Currency : Australia
Dollar (AUD) Australia
Dollar (AUD)
Denomination : (x1)
One (x1)
One
Date of financial year end : 30/06/13
30/06/12
Length of accounts : 12
months 12
months
Sale turnover / Income : 28,000,000
28,000,000
Comments :
The estimated turnover was provided by Mr. Victor D'Morias.
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 $12.5 million,
and
-The company and any entities it controls have fewer than 50 employees
at the end of the financial year.
Main activities :
The Subject engages in import and distribution of fasteners, drilling and
anchoring systems.
Product & services :
Anchoring Systems
Drilling
Systems
Screws
Rivets
Bolts & Nuts
Nails
Silicone & Adhesives
Brand :
Macsim
Eclipse
Purchases
International :
Mainly from Taiwan, China
Sales
Local :
Yes
International :
New Zealand, Fiji
Property & Assets
Premises : The
Subject operates from premises at the verified heading address
consisting
of a warehouse and an administrative office.
Branches : In
addition, the Subject operates from branch offices located:
20 Orchardleigh Street
Yennora, NSW 2161
Australia
Tel: +61 2 96324006
29 Metrolink Circuit West
Campbellfield, VIC 3061
Australia
Tel: +61 3
94957400
41 Bunya
Street
Eagle Farm,
QLD 4009
Australia
Tel: +61 7
32685668
7 Hasp
Street
Seventeen
Mile Rocks, QLD 4073
Australia
Tel: +61 7
32791033
4/13-19
Civil Road
Garbutt,
QLD 4814
Australia
Tel: +61 7
47282344
42
Prosperity Avenue
Wangara, WA
6065
Australia
Tel: +61 8
93083800
4/53
Stanbel Road
Salisbury
Plain, SA 5019
Australia
Tel: +61 8
82860410
Gross Domestic Products
(GDP) & Economic Overview
Central bank :
Reserve Bank of Australia
Reserve of foreign exchange & gold :
US$ 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 & Gaming),
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)
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%
Purchase Term
International :
Telegraphic transfer, 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. 67.03 |
|
|
1 |
Rs. 104.32 |
|
Euro |
1 |
Rs. 88.24 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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 |
|
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 |
|
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 |
|
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.