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Report Date : |
11.09.2013 |
IDENTIFICATION DETAILS
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Name : |
OSTINDO INTERNATIONAL PTY. LTD. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
03.06.1985 |
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Legal Form : |
Import and distribution of food products. |
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Line of Business : |
Australian Proprietary Company |
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No. of Employees : |
40 |
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) |
|
Australia |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
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 : OSTINDO
INTERNATIONAL PTY. LTD.
Business address : 30-36
David Lee Road
Town : Hallam
Province : Victoria
Zip/postal code : 3803
Country : Australia
Tel : +61
3 97035777
Fax : +61
3 97035788
Email : abul@ostindo.com.au
Website: www.maharajahschoice.com
Registered address : 30-36
David Lee Road
Town :
Hallam
Province :
Victoria
Zip/postal code : 3803
Country :
Australia
Postal address : P.O.
Box 5035
Town :
Hallam
Province :
Victoria
Zip/postal code : 3803
Country :
Australia
Date founded or registered :
03/06/1985
Legal form :
Australian Proprietary Company
Chief executive :
Abul Hasnat
Issued & paid up capital :
AUD 518,948
Sales turnover :
AUD 13,000,000 (Estimated Non-Consolidated 12 months, 30/06/2013)
Line of business :
Import and distribution of food products.
Staff employed :
40 employees
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 :
03/06/1985
Legal form :
Australian Proprietary Company
Registration no Australian
Company Number :
006424022
Registered authority :
Australian Securities and Investments Commission
Fiscal/ Tax no :
Australian Business Number: 53006424022
Registry status :
Live/Active
Previous name :
SAMOA NINE PTY. LTD. (initial)
Change of legal form :
None reported.
Key Management
Name : Abul Hasnat
Designation : Managing
Director
Name : Moss Pellen
Designation : Commercial
Manager
Appointments
Name :
Abul Hasnat
Designation :
Director and Company Secretary
Appointment date :
25/06/85
Address :
316 Gallaghers Road
Glen
Waverley, VIC 3150
Australia
Biography :
Born on 11-01-1942 in India.
Name : Dean
Abul Hasnat
Designation :
Director
Appointment date :
10/01/07
Address : 5
Foy Avenue
Chelsea, VIC 3196
Australia
Biography :
Born on 05-06-1976 in Melbourne, Victoria, Australia.
Staff employed : 40
employees
Composition
Authorized Capital : AUD
518,948
No of shares :
518,948 Ordinary Shares
Share par value : AUD
1
Issued capital : AUD
518,948
Paid up capital : AUD
518,948
How listed :
Full List
Composition
Shareholder name : OSTINDO
INVESTMENTS PTY LTD
Address :
30-36 David Lee Road
Hallam, VIC 3803
Australia
No. of shares :
518,948 Ordinary Shares
% of shares :
100%
Structure
Name :
OSTINDO INVESTMENTS PTY LTD
Affiliation type :
Parent Company
Address : 30-36 David Lee Road
Hallam, VIC 3803
Australia
Name : OSTINDO AUSTRALIA PTY. LIMITED
Affiliation type :
Sister Company
Address :
30-36 David Lee Road
Hallam, VIC 3803
Australia
Name :
OSTINDO QUEENSLAND PTY. LTD.
Affiliation type :
Sister Company
Address :
30-36 David Lee Road
Hallam, VIC 3803
Australia
Name :
OSTINDO AUSTRALIA EXPORTS PTY LTD
Affiliation type :
Sister Company
Address :
30-36 David Lee Road
Hallam, VIC 3803
Australia
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 06-09-2013
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 :
13,000,000
Comments :
The estimated turnover was provided by Mr. Moss Pellen.
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 $12.5 million, and
-The company and any entities it controls
have fewer than 50 employees at the
end of the financial year.
Main activities :
The Subject engages in import and distribution of food products mainly
from
India.
The
Subject distributes its products to major supermarkets, Asian stores
and
restaurants across Australia.
Product & services :
Pappadams
Curry pastes
Chutneys
Pickles
Indian herbs and spices
Snacks
Ready
to eat meals
Rice
Beans
Flour
Ghee
Combo
meals
Indian soups
Indian desserts
Simmer sauces
Instant mixes
Brand : MAHARAJAH'S CHOICE
Purchases
International : India,
Pakistan, Philippines
Sales
Local : Yes
International : No
exports.
Property &
Assets
Premises : The
Subject operates from premises at the verified heading address
consisting of an
administrative office and warehouse.
Branches : None
reported.
Intellectual property : HACCP
certified
Gross Domestic Products (GDP) & Economic Overview
Central bank : Reserve
Bank of Australia
Reserve of foreign exchange & gold : US$ 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 euipment
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, D/P, Credit 30-90 days
Sales Term
Local : Bank
transfer, Prepayment, 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.64.22 |
|
|
1 |
Rs.100.83 |
|
Euro |
1 |
Rs.85.21 |
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.