MIRA INFORM REPORT
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Report Date : |
27.01.2014 |
IDENTIFICATION DETAILS
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Name : |
RHINO RACK AUSTRALIA PTY LIMITED |
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Registered Office : |
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Country : |
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Date of Incorporation : |
15.11.2006 |
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Com. Reg. No.: |
122680639 |
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Legal Form : |
Australian Proprietary
Company |
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Line of Business : |
Engaged in designing, manufacturing & distribution of
motor vehicle roof rack systems and accessories |
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No. of Employees : |
100 |
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 – 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.
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Source : CIA |
Verified Address
Subject name : RHINO RACK AUSTRALIA
PTY LIMITED
Other style / Business name :
RHINO-RACK WA / ROOF RACK CITY / RHINO
RACK
Business address : 3 Pike Street
Town : Rydalmere
Province : New South Wales
Zip/postal code : 2116
Country : Australia
Tel : +61 2 96384744
Fax : +61 2 96384822
Email : dale@rhinorack.com.au
Website : www.rhinorack.com.au
Registered address : 3 Pike Street
Town : Rydalmere
Province : New South Wales
Zip/postal code : 2116
Country : Australia
Executive Summary
Date founded or registered : 15/11/2006
Legal form : Australian
Proprietary Company
Chief executive : Richard Oswald Cropley
Issued & paid up capital
: AUD 2
Line of business : Design, manufacturing
& distribution of motor vehicle roof rack systems and
accessories.
Staff employed : 100 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 good
Organisation structure : Organisational structure is stable
Detrimental : No detrimental found
Payment history : No payment delays noted
Registry Data
Registration date : 15/11/2006
Legal form : Australian Proprietary
Company
Registration no Australian Company Number:
122680639
Registered authority : Australian Securities and Investments
Commission
Fiscal/ Tax no : Australian Business Number:
63122680639
Registry status : Live/Active
Previous name : None reported.
Change of legal form : None reported.
Other registration : RHINO-RACK WA is a business name owned
by the Subject registered on
25/11/2003
under business registration no: BN09890221.
ROOF RACK
CITY is a business name owned by the Subject registered on
07/03/2008
under business registration no: BN20693473.
RHINO RACK
is a business name owned by the Subject registered on
13/03/1992
under business registration no: M5574611.
Key Management
Name : Richard Oswald Cropley
Designation : Managing Director
Name : Dale Fisher
Designation : Chief Financial Officer
Appointments
Name : Richard Oswald Cropley
Designation : Director and Company Secretary
Appointment date : 15/11/06
Address : 5 Berrilee Street
Turramurra,
NSW 2074
Australia
Biography : Born on 26-08-1956 in Sydney,
New South Wales, Australia.
Staff employed : 100 employees
Composition
Authorized Capital : AUD 2
No of shares : 2 Ordinary Shares
Share par value : AUD 1
Issued capital : AUD 2
Paid up capital : AUD 2
How listed : Full List
Composition
Shareholder name : CROPLEY HOLDINGS PTY LTD
Address : 3 Pike Street
Rydalmere,
NSW 2116
Australia
No. of shares : 2 Ordinary Shares
% of shares : 100%
Structure
Name : CROPLEY NOMINEES PTY LIMITED
Affiliation type : Ultimate Holding Company
Address : 3 Pike Street
Rydalmere,
NSW 2116
Australia
Name : CROPLEY HOLDINGS PTY
LTD
Affiliation type : Parent Company
Address : 3 Pike Street
Rydalmere,
NSW 2116
Australia
Name : RHINO-RACK USA LLC
Affiliation type : Sister Company
Address : 14600 East 35th Place,
Suite H
Aurora, CO
80111
United
States
Name : CROPLEY INVESTMENTS PTY
LTD
Affiliation type : Sister Company
Address : 3 Pike Street
Rydalmere,
NSW 2116
Australia
Name : RHINO-RACK NEW ZEALAND
LIMITED
Affiliation type : Sister Company
Address : 120 Tirangi Road
Rongotai,
Wellington 6022
New
Zealand
Bank Details
Name of bank : National Australia 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
Comments : The representative contacted Mr.
Dale Fisher advised that the Subject’s annual
turnover is between AUD 30 million to 40 million.
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 $12.5 million, and
-The
company and any entities it controls have fewer than 50 employees at the
end of the financial year.
PERATION DETAILS
Main activities : The Subject engages in design,
manufacturing & distribution of motor
vehicle roof rack systems and accessories.
Product & services :
Motor vehicle Roof Racks
Roof Rack Parts
Roof top luggage boxes
Bike Carriers
Ladder Carriers
Conduit Carriers
Camping Chair
Load Securing products
Shade Awnings
Brackets
Fitting Kits
Ladders & Steps
Alloy Trays
Water Accessories:
Canoe & Kayak Carriers
Boat Loader
Fishing Rod Carriers
Water Accessories
Snow Accessories:
Ski & Snowboard Carriers
Ski Boxes
Ski & Snowboard Carrier
Accessories
Luggage Carriers:
Roof Luggage Boxes
Luggage Bags
Pioneer Trays
Steel Mesh Trays
Load Securing Products:
Tie Down Straps
Ratchet Straps
Ladder Locks & Cables
Jack & Shovel Holders
Jerry Can Holders
Spare Wheel Holders
Spare Parts:
Roof Rack Bar Parts
Height Spacers
Keys & Locks
False Gutters
Nuts & Bolts
Washers & Plug Kits
Brand : RHINO RACK
Purchases
International : Mainly from China
Sales
Local : Yes
International : North America, Europe, New
Zealand
Property &
Assets
Premises : The Subject operates from the
verified heading address consisting of a
production facility, warehouse and an administrative office.
Branches : In addition, the Subject operates
from a branch office located at:
43A
Raymond Avenue
Bayswater,
WA 6053
Australia
Tel: +61 8
92717777
Fax: +61 8
92710848
Gross Domestic
Products (GDP) & Economic Overview
Central bank : Reserve
Bank of Australia
Reserve of foreign exchange
& gold : US$ 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
Local : Bank transfer,
Prepayment, D/P, Credit 30-90 days
International : Telegraphic transfer,
Prepayment, D/P, Credit 30-90 days
Sales Term
Local : Bank transfer,
Prepayment, D/P, Credit 30-90 days
International : L/C, Telegraphic transfer,
Prepayment, D/P, 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.18 |
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UK Pound |
1 |
Rs.103.38 |
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Euro |
1 |
Rs.85.09 |
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.