|
Report Date : |
03.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
SABI FOODS INTERNATIONAL (AUST) PTY. LTD. |
|
|
|
|
Registered Office : |
31-35 Letcon Drive, Dandenong South, Victoria, 3175 |
|
|
|
|
Country : |
Australia |
|
|
|
|
Date of Incorporation : |
16.07.1998 |
|
|
|
|
Com. Reg. No.: |
083441687 |
|
|
|
|
Legal Form : |
Australian Proprietary Company |
|
|
|
|
Line of Business : |
Import and distribution of food products. |
|
|
|
|
No. of Employees : |
20 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
No complaints |
|
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Australia |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 : SABI
FOODS INTERNATIONAL (AUST) PTY. LTD.
Business address : 31-35
Letcon Drive
Town : Dandenong
South
Province : Victoria
Zip/postal code : 3175
Country : Australia
Tel : +61
3 97676666
Fax : +61
3 97676677
Email : sabifood@sabifood.com
Website :
www.sabifood.com
Registered address : 31-35
Letcon Drive
Town : Dandenong
South
Province : Victoria
Zip/postal code : 3175
Country : Australia
Executive Summary
Date founded or registered : 16/07/1998
Legal form : Australian
Proprietary Company
Chief executive : Uvaraja
Hariramakrishnan
Issued & paid up capital : AUD
932,002
Sales turnover : AUD
20,000,000 (Estimated Non-Consolidated 12 months, 30/06/2013)
Line of business : Import
and distribution of food products.
Staff employed : 20
employees
Company Analysis
Country risk : Country
risk is minimal
Operation trend : Operational
trend is steady
Management experience : Management
is reasonably 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 : 16/07/1998
Legal form : Australian
Proprietary Company
Registration no Australian
Company Number: 083441687
Registered authority : Australian
Securities and Investments Commission
Fiscal/ Tax no : Australian
Business Number: 31083441687
Registry status : Live/Active
Previous name : None
reported.
Change of legal form : None
reported.
Key Management
Name : Uvaraja
Hariramakrishnan
Designation : Managing
Director
Appointments
Name : Nallathambi
Baskaran
Designation : Director
Appointment date : 16/07/98
Address : 90
Corporation Road
#02-19 Lakeholmz
Singapore 649824
Singapore
Biography : Born
on 12-06-1953 in India.
Name : Anjula
Baskaran
Designation : Director
Appointment date : 16/07/98
Address : 90
Corporation Road
#02-19 Lakeholmz
Singapore 649824
Singapore
Biography : Born
on 16-09-1956 in India.
Name : Sabitha
Uvaraja
Designation : Director
Appointment date : 12/12/01
Address : 29
Shoalwater Drive
Waterways, VIC 3195
Australia
Biography : Born
on 17-08-1980 in India.
Name :
Uvaraja Hariramakrishnan
Designation : Director
and Company Secretary
Appointment date : 19/05/03
Address : 29
Shoalwater Drive
Biography : Born
on 08-08-1973 in India.
Name : Saravanan
Baskaran
Designation : Director
Appointment date : 15/03/13
Address : 90
Corporation Road
#02-19 Lakeholmz
Singapore 649824
Singapore
Biography : Born
on 16-04-1985 in India.
Staff employed : 20
employees
Composition
Authorized Capital : AUD
932,002
No of shares : 932,002
Ordinary Shares
Share par value : AUD
1
Issued capital : AUD
932,002
Paid up capital : AUD
932,002
How listed : Full
List
Composition
Shareholder name : Nallathambi
Baskaran
Address : 90
Corporation Road
#02-19 Lakeholmz
Singapore 649824
Singapore
No. of shares : 100,001
Ordinary Shares
Shareholder name : Anjula
Baskaran
Address :
90 Corporation Road
#02-19 Lakeholmz
Singapore 649824
Singapore
No. of shares : 80,001
Ordinary Shares
Shareholder name : Sabitha
Uvaraja
Address : 29
Shoalwater Drive
Waterways, VIC 3195
Australia
No. of shares : 100,000
Ordinary Shares
Shareholder name :
Saravanan Baskaran
Address : 90
Corporation Road
#02-19 Lakeholmz
Singapore 649824
Singapore
No. of shares : 100,000
Ordinary Shares
Shareholder name : SABI
FOOD INDUSTRIES (M) SDN. BHD.
Address : No.
8, Taman Perindustrian Tampoi Jaya
Jalan Bayu 2/3, Off Jalan Tampoi
81200 Johor Bahru
Johor Darul Takzim
Malaysia
No. of shares : 244,000
Ordinary Shares
Shareholder name : SABI
FOOD INDUSTRIES (S) PTE. LTD.
Address : 59
Quality Road
Singapore 618817
Singapore
No. of shares : 308,000
Ordinary Shares
Structure
Name : SABI
FOOD INDUSTRIES (M) SDN. BHD.
Affiliation type : Shareholder
Address : No.
8, Taman Perindustrian Tampoi Jaya
Jalan Bayu 2/3, Off Jalan Tampoi
81200 Johor Bahru
Johor Darul Takzim
Malaysia
Name : SABI
FOOD INDUSTRIES (S) PTE. LTD.
Affiliation type : Shareholder
Address : 59
Quality Road
Singapore 618817
Singapore
Name : SABI
FOODS EXPORT PTY. LTD.
Affiliation type : Associate
Address : 31-35
Letcon Drive
Dandenong South, VIC 3175
Australia
Name : SABI
FOODS (INDIA) PRIVATE LIMITED
Affiliation type : Associate
Address : Survey
No;95/2, Pudunelli Village
Sohandi Road, Kammavarpalayam (PO)
Kanchipuram 631502
Tamil Nadu
India
Bank Details
Name of bank : Commonwealth
Bank of Australia
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 bankers 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 1.08 as of 28-03-2014
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 : 20,000,000
Comments : The
estimated turnover was provided by Mr. Gota Hewawithana.
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 $12.5 million, and
-The company and any entities it controls
have fewer than 50 employees at the end of the financial year.
Main activities : The
Subject engages in import and distribution of food products.
Product & services :
Bakery products
Chaats
Chutney & Sauces
Curry
Flour
Frozen goods
Ghee
Indian Chinese food products
Instant mixes
Khakara
Lentils
Nuts
Oil
Pastes
Pickles
Ready to eat products
Rice
Snacks
Spices & Herbs
Sweets
Brand : PATTU
FRUIZY
MILLER
CHING'S
SMITH & JONES
DAAWAT
MANIARR'S
BIKAJI
SAKTHI
MANGAL
GARDEN
QBB
RUCHI
SAFFOLA
ZAFRAN
Purchases
International : Mainly
from India, Singapore, Malaysia
Sales
Local : Yes
International : No
exports.
Property &
Assets
Premises : The
Subject operates from the verified heading address consisting of a warehouse
and an administrative office.
Branches : In
addition, the Subject operates from branch located at:
Unit 11, 57- 61 Pine Road
Yennora, NSW 2161
Australia
Gross Domestic
Products (GDP) & Economic Overview
Central bank : Reserve
Bank of Australia
Reserve of foreign exchange & gold : US$ 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: 2010:
20.4%
(General Government gross debt as 2011:
22.9%
a % GDP) 2012:
24%
Government bond ratings : Standard
& Poors: AAA
Moodys rating: Aaa
Moodys outlook: STA
Market value of publicly traded: US$1.198
trillion
shares
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)
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%
Purchase Term
International : Telegraphic
transfer, Prepayment, D/P, Credit 30-90 days
Sales Term
Local : Bank
transfer, Prepayment, D/P, Credit 30-90 days
Trade Reference/
Payment Behaviour
Comments : As
local and international trade references were not supplied, the Subjects
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.59.65 |
|
|
1 |
Rs.99.21 |
|
Euro |
1 |
Rs.82.39 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NNA |
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.