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Report Date : |
21.09.2013 |
IDENTIFICATION DETAILS
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Name : |
J.K. INTERNATIONAL PTY. LTD. |
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Registered Office : |
49 Suscatand Street Rocklea Queensland 4106 |
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Country : |
Australia |
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Date of Incorporation : |
28.03.1980 |
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Com. Reg. No.: |
010127750 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Import, export and wholesale distribution of food products and commodities. |
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No. of Employees : |
65 |
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
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Australia |
A1 |
A1 |
|
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 : J.K. INTERNATIONAL PTY. LTD.
Business address : 49 Suscatand Street
Town : Rocklea
Province : Queensland
Zip/postal code : 4106
Country : Australia
Tel : +61 7 32741023
Fax : +61 7 32741367
Email : jki@jki.com.au
Website : www.jki.com.au
Registered address : 49 Suscatand Street
Town : Rocklea
Province : Queensland
Zip/postal code : 4106
Country : Australia
Postal address : GPO Box 1981
Town : Brisbane
Province : Queensland
Zip/postal code : 4001
Country : Australia
Executive Summary
Date founded or registered : 28/03/1980
Legal form : Australian Proprietary Company
Chief executive : Suman Bala Mohan
Issued & paid up capital : AUD 50,000
Line of business : Import, export and wholesale distribution of food products and commodities.
Staff employed : 65 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 undetermined
Organization structure : Organizational structure is stable
Detrimental : No detrimental found
Payment history : No payment delays noted
Registry Data
Registration date : 28/03/1980
Legal form : Australian Proprietary Company
Registration no Australian Company Number: 010127750
Registered authority : Australian Securities and Investments Commission
Fiscal/ Tax no : Australian Business Number: 49010127750
Registry status : Live/Active
Previous name : None reported.
Change of legal form : None reported.
Key Management
Name : Suman Bala Mohan
Designation : Managing Director
Appointments
Name : Suman Bala Mohan
Designation : Director and Company Secretary
Appointment date : 25/08/80
Address : 55 Ham Road
Mansfield, QLD 4122
Australia
Biography : Born on 22-10-1954 in India.
Name : Jiwan Kumar Mohan
Designation : Director
Appointment date : 25/08/80
Address : 55 Ham Road
Mansfield, QLD 4122
Australia
Biography : Born on 13-12-1949 in India.
Staff employed : 65 employees
Key Advisors
Auditors : WILLIAM BUCK (QLD)
Level 21, 307 Queen Street
Brisbane, QLD 4000
Australia
Composition
Authorized Capital : AUD 50,000
No of shares : 50,000 Ordinary Shares
Share par value : AUD 1
Issued capital : AUD 50,000
Paid up capital : AUD 50,000
How listed : Full List
Composition
Shareholder name : J.K. PROPERTIES PTY. LTD.
Address : 49 Suscatand Street
Rocklea, QLD 4106
Australia
No. of shares : 50,000 Ordinary Shares
% of shares : 100%
Structure
Name : J.K. PROPERTIES PTY. LTD.
Affiliation type : Parent Company
Address : 49 Suscatand Street
Rocklea, QLD 4106
Australia
Name : J.K. MILLING PTY. LTD.
Affiliation type : Sister Company
Address : 49 Suscatand Street
Rocklea, QLD 4106
Australia
Name : J.K. SHIPPING PTY. LTD.
Affiliation type : Sister Company
Address : 49 Suscatand Street
Rocklea, QLD 4106
Australia
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
Comments : The representative contacted Mr. Jiwan Kumar Mohan declined to provide any
financial information until the inquiring party details are revealed.
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, export and wholesale distribution of food
products and commodities mainly agricultural commodities.
Product & services : Barley
Edible Oils
Prepacked Dhalls
Legumes
Peas
Spices
Beans
Fertilizers
Lentils
Pulses
Steel
Bird Seeds
Grains
Oats
Rice
Sugar
Dairy products
Food products
Pickles, Pastes
Chutneys
Masala
Grass Seeds
Ghee
Oil Seeds
Seeds
Wheat
Purchases
Local : Yes
International : Mainly from Asia, South America
Sales
Local : Yes
International : Worldwide
Key events : May 2, 2012
JK Milling vows to pay growers
BRISBANE pulse buyer JK Milling has assured the Victorian Farmers
Federation it will make long overdue payments to Wimmera growers.
Pulse growers have become anxious in recent weeks about slow payments
by JK Milling, which operates a packing plant at Horsham.
Some growers are believed to have been owed hundreds of thousands of
dollars.
VFF grains group president Andrew Weidemann said grains councillors
had a telephone hook-up yesterday with J.K. Milling director Rishi Mohan,
who gave the federation a "strong assurance they will meet their
obligations''.
"We're comfortable with what they told us,'' Mr Weidemann said.
"We know that some growers have been paid.''
Mr Mohan denied the payments to growers had been delayed a number of
weeks.
"It is nothing like that,'' he said.
"But if growers have a problem, please contact our Horsham operation.''
JK Milling is the processing subsidiary of holding company JK Properties,
owned by Jiwan Kumar Mohan and Suman Bala Mohan.
Their sons, Rishi, Sandeep and Ravi, are directors of JK Milling and a
number of associated companies.
There are a number of other subsidiaries in the JK Properties stable,
including JK International Pty Ltd, JK Shipping Pty Ltd and Granum Pty
Limited.
The JK group of companies make the Mohan family the biggest pulse
traders in Australia.
The Mohan family has been a major benefactor of the Hindu Mandir
Association of Queensland, paying for the association's temple in the
Brisbane suburb of Burbank in 2004.
Jiwan Mohan is patron of the Hindu association.
Mr Weidemann said a number of grain traders had gone into receivership
during the past 18 months.
"But the problem is decreasing in its intensity,'' he said.
Late last year, another Brisbane grain trader, Pars-Ram Brothers
(Australia) Pty Limited, was placed in receivership.
Property & Assets
Premises : The Subject operates from premises at 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 & 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
Local : Bank transfer, D/P, Credit 30-90 days
International : L/C, Telegraphic transfer, D/P, Credit 30-90 days
Sales Term
Local : Bank transfer, D/P, Credit 30-90 days
International : L/C, Telegraphic transfer, D/P, 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.62.24 |
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|
1 |
Rs.99.90 |
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Euro |
1 |
Rs.84.23 |
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 |
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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 |
-- |
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.