MIRA INFORM REPORT

Report Date :

21.04.2014

IDENTIFICATION DETAILS

Name :	STRANDBAGS GROUP PTY LIMITED

Formerly Known as :	HANDBAGS INTERNATIONAL PTY LTD

Registered Office :	South Tower, Level 1, 2 Minna Close, Belrose, New South Wales, Zip code 2085

Country :	Australia

Financials (as on) :	30.06.2013 (Non-Consolidated: Estimated Turnover )

Date of Incorporation :	13.12.1983

Com. Reg. No.:	002696915

Legal Form :	Australian Proprietary Company

Line of Business :	Subject owns and operates a chain of retail stores across Australia offering Fashion Handbags, Wallets, Backpacks, Business Cases, Luggage as well as Luggage Accessories

No of Employees :	1,500

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory

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 – March 31, 2014

Country Name

Previous Rating

(31.12.2013)

Current Rating

(31.03.2014)

Australia

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderate Low Risk	B1
Moderate Risk	B2
Moderate High Risk	C1
High Risk	C2
Very High Risk	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

IDENTIFICATION DETAILS

Verified Address

Subject name : STRANDBAGS GROUP PTY LIMITED

Other style / Business name : STRANDBAGS

Business address : South Tower, Level 1

2 Minna Close

Town : Belrose

Province : New South Wales

Zip/postal code : 2085

Country : Australia

Tel : +61 2 94797777

Fax : +61 2 94500679

Website : www.strandbags.com.au

Registered address : South Tower, Level 1

2 Minna Close

Town : Belrose

Province : New South Wales

Zip/postal code : 2085

Country : Australia

Postal address : Locked Bag 77

Town : St.Ives

Province : New South Wales

Zip/postal code : 2075

Country : Australia

SUMMARY DETAILS

Executive Summary

Date founded or registered : 13/12/1983

Legal form : Australian Proprietary Company

Chief executive : Rory Lindsay Crawford

Issued & paid up capital : AUD 8,117,864

Sales turnover : AUD 350,000,000 (Estimated Non-consolidated 12 months, 30/06/2013)

Line of business : Owns and operates a chain of retail stores across Australia offering Fashion

Handbags, Wallets, Backpacks, Business Cases, Luggage as well as Luggage Accessories

Staff employed : 1,500 employees

CREDIT RISK OPINION

Credit Risk Interpretation

Credit risk theory : Reasonable financial and operational base. Small credits may be considered with

some confidence that commitments will be sustained under normal circumstances. This is based on criterions such as years of establishment, number of employees, sales turnover, profit after tax, total assets, reserve, and

others. A cautious credit control policy applies.

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 good

Organization structure : Organizational structure is stable

Detrimental : No detrimental found

Payment history : No payment delays noted

STATUTORY DETAILS

Registry Data

Registration date : 13/12/1983

Legal form : Australian Proprietary Company

Registration no Australian Company Number: 002696915

Registered authority : Australian Securities and Investments Commission

Fiscal/ Tax no : Australian Business Number: 52002696915

Registry status : Live/Active

Previous name : HANDBAGS INTERNATIONAL PTY LTD

VIDOO PTY LTD (initial)

Change of legal form : None reported.

Other registration : The Subject owns the following business names:

· THE BAG SHOP WARRAWONG

· BRADMANS

· EQUIP

· STRANDBAGS

· BAGSTOP

· THE BAG SHOP LISMORE

· THE BAG SHOP BATEAU BAY

· THE BAG SHOP ARMIDALE