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Report Date : |
16.04.2014 |
IDENTIFICATION DETAILS
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Name : |
GLOBAL FOODS
GROUP PTY. LTD. |
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Formerly Known As: |
GALAXY
IMPORTS (NSW) PTY LTD |
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Registered Office : |
114 Christina
Road Villawood New South Wales 2163 |
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Country : |
Australia |
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Date of Incorporation : |
26.03.2007 |
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Com. Reg. No.: |
124595777 |
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Legal Form : |
Australian
Proprietary Company |
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Line of Business : |
Import,
processing and wholesale distribution of food and grocery products |
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No. of Employees |
50 |
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 : |
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.
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
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Source
: CIA |
Verified Address
Subject name :
GLOBAL FOODS GROUP PTY. LTD.
Other style /
Business name : GLOBAL FOODS GROUP /
FRESH4YOU / FRESH HARVEST FOODS
Business
address : 114 Christina
Road
Town : Villawood
Province : New South Wales
Zip/postal code : 2163
Country : Australia
Tel : +61 2 97235066
Fax : +61 2 97235044
Email : sales@grgroup.com.au
Website : www.gfgroup.com.au
Registered
address : 114 Christina
Road
Town : Villawood
Province : New South Wales
Zip/postal code : 2163
Country : Australia
Executive Summary
Date founded
or registered : 26/03/2007
Legal form : Australian
Proprietary Company
Chief
executive : Costa
Christou
Issued &
paid up capital : AUD 3
Line of
business : Import,
processing and wholesale distribution of food and grocery products.
Staff employed
: 50 employees
Country risk :
Country risk
is minimal
Operation
trend : Operational
trend is steady
Management
experience : Management is
modestly 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 : 26/03/07
Legal form : Australian Proprietary Company
Registration
no Australian Company Number: 124595777
Registered
authority : Australian
Securities and Investments Commission
Fiscal/ Tax no
: Australian
Business Number: 26124595777
Registry
status :
Live/Active
Previous name
: GALAXY
IMPORTS (NSW) PTY LTD
GADOLINIUM PTY LIMITED (initial)
Change of
legal form : None
reported.
Other
registration : The
Subject owns the following business names:
GLOBAL FOODS GROUP is a business name owned by the Subject registered
on 1/12/2008 under business registration no: BN98399588.
FRESH4YOU is a business name owned by the Subject registered on
2/12/2008
under business registration no: BN98399763.
FRESH HARVEST FOODS is a business name owned by the Subject registered
on 1/07/2010 under business registration no: BN98511664.
Key Management
Name : Costa
Christou
Designation : Managing Director
BOARD OF DIRECTORS/
OTHER APPOINTMENTS
Appointments
Name : Gabriel Christou
Designation : Director
Appointment
date : 26/03/07
Address : 40 Baroona Road
Northbridge, NSW 2063
Australia
Biography : Born on 13-01-1942 in Cyprus.
Name : George Vasili
Designation : Director and Company Secretary
Appointment
date : 26/03/07
Address : 10 Viret Street
Hunters Hill, NSW 2110
Australia
Biography : Born on 03-01-1948 in Cyprus.
Name : Nick Vasili
Designation : Director
Appointment
date : 26/03/07
Address : 1 Clarke Street
Vaucluse, NSW 2030
Australia
Biography : Born on 28-01-1948 in
Cyprus.
Staff employed
: 50 employees
Composition
Authorized
Capital : AUD 3
No of shares :
3 Ordinary Shares
Share par
value : AUD 1
Issued capital
: AUD 3
Paid up
capital : AUD 3
How listed : Full List
Composition
Shareholder
name : Nick Vasili
Address : 1 Clarke Street
Vaucluse, NSW 2030
Australia
No. of shares
: 1 Ordinary Share
Shareholder
name : George Vasili
Address : 10 Viret Street
Hunters Hill, NSW 2110
Australia
No. of shares
: 1 Ordinary Share
Shareholder
name : Gabriel Christou
Address : 40 Baroona Road
Northbridge, NSW 2063
Australia
No. of shares
: 1 Ordinary Share
Structure
Related
companies and corporate
affiliations
comments :
None reported.
Bank Details
Name of bank :
The 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 : 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 $12.5 million, and
-The company and any entities it controls have fewer than 50 employees
at the
end of the financial year.
Main
activities : The Subject engages in
import, processing and wholesale distribution of
food and grocery products.
The Subject's customers include major supermarkets in Australia such
as Woolworths,
Coles and Franklins.
Product & services : Grocery products
Cleaning products
Cheese
Olives
Pasta
Spices
Sweets
Antipasto
Nuts
Beans, grains and pulses
Dried fruits
Oils & Vinegars
Coffee
Purchases
Local : Yes
International
: Worldwide: India, Greece, Bulgaria, Denmark, Switzerland, Turkey, Iran,
India,
Thailand, USA
Sales
Local : Yes
International
: New Zealand
Property & Assets
Premises : The
Subject operates from the verified heading address consisting of an
administrative
office and warehouse.
Branches :
None reported.
Gross Domestic Products (GDP) &
Economic Overview
Central bank :
Reserve
Bank of Australia
Reserve of
foreign exchange & gold : US$
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)
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
Local :
Prepayment, D/P, Bank transfer, Credit 30-90 days
International
: L/C, Prepayment, D/P, Telegraphic transfer, Credit 30-90 days
Sales Term
Local :
Prepayment, D/P, Bank transfer, Credit 30-90 days
International
: L/C, Prepayment, 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
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.26 |
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1 |
Rs.101.71 |
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Euro |
1 |
Rs.83.27 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
NIS |
RATING EXPLANATIONS
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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 |
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-- |
NB |
New Business |
-- |
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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.