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Report Date : |
15.01.2014 |
IDENTIFICATION DETAILS
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Name : |
LS COLLECTIONS AUSTRALIA PTY LTD |
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Registered Office : |
C/o J P SUNDERLAND & CO Unit 1, 23A Rodd Street Birrong New South Wales 2143 |
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Country : |
Australia |
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Date of Incorporation : |
12.04.2010 |
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Com. Reg. No.: |
143063209 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Import & distribution of home furnishing products and accessories |
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No. of Employees : |
2 full-time employees & 5 part-time employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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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 – September 30, 2013
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Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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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 : LS COLLECTIONS AUSTRALIA PTY LTD
Other style / Business name : LAZY SUSAN AUSTRALIA
Business address : Unit 1, 10 George Young Street
Town : Auburn
Province : New South Wales
Zip/postal code : 2144
Country : Australia
Tel : +61 2 96451243 / +61 2 82035707
Fax : +61 2 84580772
Email : info@lscollections.com.au
Website : www.lscollections.com.au / www.lazysusanaustralia.com.au
Registered address : C/o J P SUNDERLAND & CO
Unit 1, 23A Rodd Street
Town : Birrong
Province : New South Wales
Zip/postal code : 2143
Country : Australia
Executive Summary
Date founded or registered : 12/04/2010
Legal form : Australian Proprietary Company
Chief executive : Glenn John Ford
Issued & paid up capital : AUD 1,000
Sales turnover : AUD 749,741 (Non-Consolidated 12 months, 30/06/2012)
Net income : AUD -110,928 (Non-Consolidated 12 months, 30/06/2012)
Total fixed assets : AUD 615,711 (Non-Consolidated 12 months, 30/06/2012)
Line of business : Import & distribution of home furnishing products and accessories.
Staff employed : 2 full-time employees & 5 part-time employees
Company Analysis
Country risk : Country risk is minimal
Operation trend : Operational trend is in start up phase
Management experience : Management is modestly experienced
Financial performance : Financial performance is gradually declining
Organization structure : Organizational structure is stable
Detrimental : No detrimental found
Payment history : No payment delays noted
Credit amount suggestion : Fully Secured Terms.
Credit amount asked : Not Described.
Comments : Caution is needed in granting credit due to the Subject’s share equity deficit.
Registry Data
Registration date : 12/04/2010
Legal form : Australian Proprietary Company
Registration no Australian Company Number: 143063209
Registered authority : Australian Securities And Investments Commission
Fiscal/ Tax no : Australian Business Number: 16143063209
Registry status : Live/Active
Previous name : None reported.
Change of legal form : None reported.
Other registration : LAZY SUSAN AUSTRALIA is a business name owned by the Subject registered
on 14/04/2010 under business registration no: BN98496105.
Key Management
Name : Glenn John Ford
Designation : Managing Director
Appointments
Name : Glenn John Ford
Designation : Director and Company Secretary
Appointment date : 12/04/10
Address : Unit 11, 2 Charles Street
Carlingford, NSW 2118
Australia
Biography : Born on 21-07-1969 in Sydney, New South Wales, Australia.
Staff employed : 2 full-time employees & 5 part-time employees
Composition
Authorized Capital : AUD 1,000
No of shares : 1,000 Ordinary Shares
Share par value : AUD 1
Issued capital : AUD 1,000
Paid up capital : AUD 1,000
How listed : Full List
Composition
Shareholder name : Glenn John Ford
Address : Unit 11, 2 Charles Street
Carlingford, NSW 2118
Australia
No. of shares : 210 Ordinary Shares
Shareholder name : JAPAN GREEN STAMP CO LTD
Address : Shin Tokyo Building 3-3-1 Marinouchi
Chiyoda-ku, Tokyo 100-0005
Japan
No. of shares : 590 Ordinary Shares
Shareholder name : LAZY SUSAN USA,INC
Address : Level 18, 777 Third Avenue
New York NY 10017
United States of America
No. of shares : 200 Ordinary Shares
Structure
Name : JAPAN GREEN STAMP CO., LTD.
Affiliation type : Parent Company
Address : Shin Tokyo Building 3-3-1 Marinouchi
Chiyoda-ku, Tokyo 100-0005
Japan
Comments : Japan Green Stamp Co., Ltd. is Japan’s premier loyalty program operator and
provides a wide range of in-lane and on-line services to retailers, banks and
airlines. It was founded in 1961 and serves more than 17 million of the estimated
49 million Japanese households (approximately 35% of the market) and
approximately 23,000 retail stores throughout Japan.
Name : LAZY SUSAN USA,INC
Affiliation type : Shareholder
Address : Level 18, 777 Third Avenue
New York NY 10017
United States of America
Bank Details
Name of bank : St.George Bank
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 : Commercial Registry Filings
Financial statement date : 30/06/12
Type of accounts : Full audited
Currency : Australia Dollar (AUD)
Exchange rate : 1 USD = AUD 1.
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 : 30/06/12 30/06/11
Length of accounts : 12 months 12 months
Sale turnover / Income : 749,741 615,358
Gross profit : 357,660 246,927
Profit before tax : -110,928 -45,622
Net income : -110,928 -45,622
Non current assets : 55,426 19,841
Current assets : 560,285 447,589
Inventories : 476,481 295,926
Total assets : 615,711 467,430
Current liabilities : 144,255 152,849
Non current liabilities : 646,663 378,860
Total liabilities : 790,918 531,709
Share equity : -175,207 -64,279
Retained earning : -176,207 -65,279
Main activities : The Subject engages in import & distribution of home furnishing products
and accessories.
Product & services : Home furnishing products:
Vases, Jars & Vessels
Frames
Ornamental accessories
Votives
Hurricanes
Candleholder
Furniture products
Bowls & Trays
Frames
Mirrors & Wall Art
Boxes & Bins
Home lighting products
Cushions
Pet Bowls
Pet Beds
Brand : LAZY SUSAN
JACK BOW WOW
LS STYLE
Purchases
International : United States, India, China, Indonesia, Philippines and Vietnam
Sales
Local : Yes
International : New Zealand
Property & Assets
Premises : The Subject operates from the verified heading address consisting of an
administrative office showroom and warehouse.
Branches : None reported.
Other property : Total NBV of property, plant and equipment as of 30-06-2012 was AUD 24,007
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
International : Prepayment, Telegraphic transfer
Sales Term
Local : Cash, Credit card, Bank transfer
International : Prepayment, Telegraphic transfer
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.61.52 |
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|
1 |
Rs.101.48 |
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Euro |
1 |
Rs.84.11 |
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 |
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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 |
-- |
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.