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Report Date : |
08.02.2014 |
IDENTIFICATION DETAILS
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Name : |
SHANN AUSTRALIA PTY LTD |
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Formerly Known as: |
SHANN ACCESSORIES PTY. LTD. |
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Registered Office : |
Unit 2, |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
19.11.1987 |
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Com. Reg. No.: |
006884457 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Subject engages in import and wholesale distribution of fabrics, leather and furniture, clothing and sail making materials and related accessories. Subject products are used by manufacturers of sails, furniture, bedding, blinds, curtains, footwear and clothing products. |
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No. of Employees : |
110 |
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 – december 01, 2013
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Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
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Australia |
A1 |
A1 |
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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 : SHANN AUSTRALIA PTY LTD
Business address : Unit 2, 23 Bell Street
Town : Preston
Province Victoria
Zip/postal code : 3072
Country : Australia
Tel : +61 3 84800800
Fax : +61 3 84800829
Email : enquiry@shann.com.au
Website : www.shann.com.au
Registered address : Unit 2, 23 Bell Street
Town : Preston
Province : Victoria
Zip/postal code : 3072
Country : Australia
Postal address : P.O. Box 8093
Town : Northland Centre
Province : Victoria
Zip/postal code : 3072
Country : Australia
Executive Summary
Date founded or registered : 19/11/1987
Legal form : Australian
Proprietary Company
Chief executive : Martin James O'Shannassy
Issued & paid up capital
: AUD 1,000
Sales turnover : AUD 35,000,000 (Estimated
Non-Consolidated 12 months, 31/12/2013)
Line of business : Import
and wholesale distribution of fabrics, leather and furniture, clothing and sail
making materials and related accessories.
Staff employed : 110 employees
Credit Risk
Interpretation
Credit risk rating : SATISFACTORY
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 and others. A
cautious credit control policy
applies.
Company Analysis
Country risk : Country risk is
minimal
Operation trend : Operational trend is
progressing
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
Credit amount asked : Not described
Registry Data
Registration date : 19/11/1987
Legal form : Australian
Proprietary Company
Registration no Australian Company number:
006884457
Registered authority : Australian Securities and
Investments Commission
Fiscal/ Tax no : Australian Business
Number: 22593246084
Registry status : Live/Active
Previous name : SHANN ACCESSORIES PTY.
LTD.
TANNER WOODS PTY. LTD. (initial)
Change of legal form : None reported.
Other registration : PARKINSON & MANN is a
business name owned by the Subject registered on
15/01/2008 under business registration no: BN10970162.
Key Management
Name : Martin James
O'Shannassy
Designation : Managing Director
Name : Natalie McLeod
Designation : Financial Controller
Appointments
Name : Philip John O'Shannassy
Designation : Director and Company Secretary
Appointment date : 04/12/87
Address : 172-178 Berringa Road
Park
Orchards, VIC 3114
Australia
Biography : Born on 02-08-1957 in
Melbourne, Victoria, Australia.
Name : Wayne Seivers
Designation : Director
Appointment date : 04/12/87
Address : Unit
47, 400 Victoria Parade
East
Melbourne, VIC 3002
Australia
Biography : Born on 09-10-1949 in
Melbourne, Victoria, Australia.
Name : Kevin John Matherson
Designation : Director
Appointment date : 04/12/87
Address : 267 High Street
Templestowe Lower, VIC 3107
Australia
Biography : Born on 20-07-1959 in
Willaura, Victoria, Australia.
Name : Martin James
O'Shannassy
Designation : Director
Appointment date : 23/02/96
Address : Unit 5305, 1-7 Queens
Bridge Street
Southbank,
VIC 3006
Australia
Biography : Born on 23-07-1962 in
Richmond, Victoria, Australia.
Staff employed : 110 employees
Composition
Authorized Capital : AUD 1,000
No of shares : 10,000 Ordinary Shares
Share par value : AUD 0.1
Issued capital : AUD 1,000
Paid up capital : AUD 1,000
How listed : Full List
Composition
Shareholder name : DANBRAE PTY. LTD.
Address : C/o KEATING & COMPANY
PTY LTD
Level 10,
379 Collins Street
Melbourne,
VIC 3000
Australia
No. of shares : 660 Ordinary Shares
Shareholder name : Catherine O'Shannassy
Address : Unit 3, 1A Hughenden Road
St Kilda
East, VIC 3183
Australia
No. of shares : 200 Ordinary Shares
Shareholder name : Mary O'Shannassy
Address : 27 Russell Street
Camberwell,
VIC 3124
Australia
No. of shares : 1,110 Ordinary Shares
Shareholder name : Michael O'Shannassy
Address : P.O. Box 2064
Nuku'alofa
Tonga
No. of shares : 200 Ordinary Shares
Shareholder name : Malinda O'Shannassy
Address : 38 Kyarra Road
Glen Iris,
VIC 3146
Australia
No. of shares : 200 Ordinary Shares
Shareholder name : P.J. & J.A. PTY. LTD.
Address : C/o KEATING & COMPANY
PTY LTD
Level 10, 379 Collins Street
Melbourne, VIC 3000
Australia
No. of shares : 2,020 Ordinary Shares
Shareholder name : SEOSH PTY. LTD.
Address : C/o MARIN ACCOUNTANTS PTY LTD
37 Park Street
South Melbourne, VIC
3205
Australia
No. of shares : 2,400 Ordinary Shares
Shareholder name : CALVEEN PTY. LTD.
Address : Black Rock, VIC 3193
Australia
No. of shares : 1,540 Ordinary Shares
Shareholder name : SHAKESPEARE ENTERPRISES PTY LTD
Address : C/o MARIN ACCOUNTANTS PTY LTD
37 Park Street
South Melbourne, VIC
3205
Australia
No. of shares : 770 Ordinary Shares
Shareholder name : SMYCO INVESTMENTS PTY LTD
Address : Geelong, VIC 3220, Australia
No. of shares : 200 Ordinary Shares
Ownership
/ Shareholding comment : Other
shareholders include:
Shareholder name: TERMAR PTY. LTD.
Address: Southbank,
VIC 3006
Australia
No. of shares: 700 Ordinary Shares
Structure
Name : SHANN NZ LIMITED
Affiliation type : Wholly-owned Subsidiary
Address : 14 Saunders Place
Avondale,
Auckland 1026
New Zealand
Bank Details
Name of bank : Bank of Melbourne
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 : 31/12/13
Type of accounts Estimated key figures
Currency : Australia Dollar
(AUD)
Exchange rate : 1 USD = AUD 1.12 as of
07-02-2014
Summarized
Financial Information
Consolidation type : Non Consolidated Non Consolidated
Currency : Australia Dollar
(AUD) Australia Dollar
(AUD)
Denomination : (x1) One (x1) One
Date of financial year end : 31/12/13 31/12/12
Length of accounts : 12 months 12 months
Sale turnover / Income : 35,000,000 33,000,000
Comments :
The estimated turnover was
provided by Ms. Natalie McLeod.
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 $12.5 million, and
-The company and any entities
it controls have fewer than 50 employees at the end of the financial year.
Main activities : The Subject engages in import and
wholesale distribution of fabrics, leather
and furniture, clothing and sail making materials and related
accessories.
The Subject products are used by manufacturers of sails,
furniture,
bedding, blinds, curtains, footwear and clothing products.
Product & services :
· Industrial Fabrics
Furnishing
Fabrics
Upholstery
Leathers
Fasteners
Accessories
Adhesives
Cardboard
& Backtacking
Clips
& Joiners
Nails
& Staples
Needles
& Thread
Springs
& Wire
Glues,
Silicone & Adhesive Sprays
Tools
Machinery
Cardboard
& Backtacking
Foam
& Cushions
Furniture
accessories
Zip
Sailcloth
Sailmaking
hardware
Purchases
International : Europe, United States and Asia
Sales
Local : Yes
International : New Zealand
Property &
Assets
Premises : The Subject operates from the
verified heading address consisting of a
warehouse and an administrative office.
Branches : In addition, the Subject operates
from branches located at:
11
Marieanne Place
Minchinbury,
NSW 2770
Australia
Tel: +61 2
98327000
14-20
Conmurra Avenue
Edwardstown,
SA 5039
Australia
Tel: +61 8
82777733
Unit 1,
223-225 Ewing Road
Woodridge,
QLD 4114
Australia
Tel: +61 7
38087277
24
Collingwood Street
Osborne
Park, WA 6017
Australia
Tel: +61 8
92444433
Gross Domestic
Products (GDP) & Economic Overview
Central bank : Reserve
Bank of Australia
Reserve of foreign exchange
& gold : US$ 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 &
aming), 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%
PAY
Purchase Term
International : Telegraphic transfer,
Prepayment, D/P, Credit 30-90 days
Sales Term
Local : Bank transfer,
Prepayment, D/P, Credit 30-90 days
International : 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
Other
official and local business sources
NT HISTORY
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
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US Dollar |
1 |
Rs.62.32 |
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UK Pound |
1 |
Rs.101.78 |
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Euro |
1 |
Rs.84.68 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.