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Report Date : |
16.06.2014 |
IDENTIFICATION DETAILS
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Name : |
GRIPWELL AUSTRALIA PTY. LIMITED |
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Registered Office : |
Unit 5, 72-74 Lower Gibbes Street, Chatswood, New South Wales 2067 |
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Country : |
Australia |
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Date of Incorporation : |
11.12.1989 |
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Com. Reg. No.: |
003911715 |
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Legal Form : |
Australian Proprietary Company, Limited by Shares |
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Line of Business : |
Subject is engaged in import and distribution of hand tools, automotive tools, marking and measuring, security and storage products, builders and painting tools |
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No of Employees : |
8 employees |
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 : |
Unknown |
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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 – March 31, 2014
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Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
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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 Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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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.
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Source
: CIA |
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Verified
Address |
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Subject
name GRIPWELL AUSTRALIA PTY. LIMITED Business
name / Other PRO-ACTIVE TOOLS INTERNATIONAL Unit 5, 72-74 Lower Gibbes Street Town Zip
/ Postal code 2067 Fax Website |
Registered
address Unit 5, 72-74 Lower Gibbes Street Zip
/ Postal code 2067 |
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Report
Summary |
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Date
registered 11/12/1989 Australian Proprietary Company, Limited by Shares Key
personnel Gulshan Jit Rana Line
of business The Subject’s business consist of import and distribution
of hand tools, automotive tools, marking and measuring, security and storage products,
builders and painting tools etc. Staff
employed 8 employees |
Paid-up
capital AUD1,000.00 AUD5,000,000.00 (Estimated Non-Consolidated 12 months,
30/06/2013) |
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Credit
risk theory Sufficient 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. Paid-up
capital AUD1,000.00 AUD5,000,000.00 (Estimated Non-Consolidated 12 months,
30/06/2013) |
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Subject’s
Credit Risk Analysis |
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Country
risk Country risk is minimal Operation
trend Operational trend is steady Management
experience Management is reasonably experienced Financial
performance Financial performance is fair |
Organisation
structure Organisational structure is stable Detrimental
No detrimental found Payment
history No payment delays noted Credit
amount requested Not described |
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Registry
Information |
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Date
registered 11/12/1989 Australian Proprietary Company, Limited by Shares Registration
number Australian Company Number: 003911715 Australian Securities and Investments Commission Australian Business Number: 23003911715 |
Statutory
status Active The Subject was previously known as CIPLY HOLDINGS PTY.
LIMITED. None reported. Other
registration PRO-ACTIVE TOOLS INTERNATIONAL is a business name owned by
the Subject registered on 27/09/1988 bearing registration number K6977345. |
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Key Personnel |
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Name Designation |
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Appointments |
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Name Title 01/10/97 Forestville, NSW 2087 Australia Name Title 01/10/97 Belrose, NSW 2085 Australia Name Title Appointment
date 16/01/90 St Ives, NSW 2075 Australia Name Title 16/01/90 St Ives, NSW 2075 Australia |
Staff
employed 8 employees |
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Composition |
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Authorized
capital AUD1,000.00 1,000 Ordinary Shares Share
par value AUD1.00 AUD1,000.00 |
Paid-up
capital AUD1,000.00 |
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Composition |
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How
listed Full list Shareholder
name Uppinder Singh Bhatia Address Forestville, NSW 2087 Australia 150 Ordinary Shares Shareholder
name Jagjit Singh Rana Address St Ives, NSW 2075 Australia 350 Ordinary Shares Shareholder
name Gulshan Jit Rana Address St Ives, NSW 2075 Australia 350 Ordinary Shares Shareholder
name Apnit Singh Rana Address Belrose, NSW 2085 Australia 150 Ordinary Shares |
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Structure |
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Remarks
on corporate affiliations and related companies None reported. |
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Bank
Details |
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Name
of bank Australia and New Zealand Banking Group Limited Address |
Comments |
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Mortgages |
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None reported. |
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Legal
Filings |
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Bankruptcy
filings None reported. Court
judgements None reported. |
Tax
liens None reported. Others |
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Description |
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Financial statement source |
Currency of financial statement |
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Concise Financial Data |
Consolidation style |
Non-Consolidated |
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Currency |
Australia
Dollar (AUD) |
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Date of financial year end |
30/06/13 |
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Length of financial
accounts |
12
months |
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Sales turnover / Revenue /
Income |
5,000,000.00 |
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Remarks |
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The estimated turnover was provided by Mr. Gulshan Jit
Rana.
- 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. |
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Operational
Details |
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Main
activities The Subject engages in import and distribution of hand
tools, automotive tools, marking and measuring, security and storage
products, builders and painting tools, garden tools, camping and outdoor
equipment etc.
Hand Tools Automotive Tools Marking and Measuring Tools Builders and Painting Tools Safety and Tie Down Tools Security and Storage Tools Garden Tools Camping/ Outdoor Tools |
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Purchases |
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Local |
International |
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Sales |
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Local |
International |
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Business
Facilities and Assets |
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Premises |
Branches |
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Gross
Domestic Products (GDP) and Economic Overview |
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Central bank |
Public debt (general Government gross debt as percentage (%) of
GDP) |
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Trade
and Competitiveness Overview |
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Total
exports US$263.9 billion Export
commodities Coal, iron ore, gold, meat, wool, alumina, wheat,
machinery and transport equipment Total
imports US$239.7 billion Import
commodities Machinery and transport equipment, computers and office
machines, telecommunication equipment
and parts; crude oil and petroleum products 10 out of 185 countries Global
competitiveness ranking |
Major export partners |
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Country
and Population Overview |
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Total population |
Currency |
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Purchases
Term |
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International |
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Sales
Term |
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Local |
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Trade
Reference / Payment Behaviour |
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Comments |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 59.47 |
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1 |
Rs. 100.93 |
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Euro |
1 |
Rs. 80.71 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
DPT |
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 |
-- |
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.