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Report Date : |
07.03.2014 |
IDENTIFICATION DETAILS
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Name : |
MINEMET AUSTRALASIA PTY LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
10.09.2004 |
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Com. Reg. No.: |
110920931 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
engaged in
Sourcing, Import and Export of Scrap Metal (Including Copper, Brass,
Aluminium, Zinc, Stainless Steel, Ferrous) & Recyclable
Materials |
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No. of Employees : |
07 |
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 : |
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.
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Source : CIA |
Verified Address
Subject name : MINEMET AUSTRALASIA PTY LTD
Business address : Suite 6, 209 Toorak Road
Town : South Yarra
Province : Victoria
Zip/postal code : 3141
Country : Australia
Tel : +61 3 98268745
Fax : +61 3 98269586
Email : hmckee@minemet.com
Website : www.minemet.com
Registered address : Suite 6, 209 Toorak Road
Town : South Yarra
Province : Victoria
Zip/postal code : 3141
Country : Australia
Executive Summary
Date founded or registered : 10/09/2004
Legal form : Australian Proprietary Company
Chief executive : Hugh McKee
Issued & paid up capital : AUD 100
Line of business : Sourcing, import and export
of scrap metal.
Staff employed : 7 employees
Credit Risk Interpretation
Credit risk theory : Some indications of
financial and operational stress. More caution is
recommended
when considering granting credit. Smaller credits plus loan
guarantees
is an advantage. This is due to insufficient financial data. A strict
credit
control policy applies.
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
undetermined
Organization structure : Organizational structure is
acceptable
Detrimental : No detrimental found
Payment history : No payment delays noted
Registry Data
Registration date : 10/09/2004
Legal form : Australian Proprietary Company
Registration no Australian Company
Number: 110920931
Registered authority : Australian Securities and
Investments Commission
Fiscal/ Tax no : Australian
Business Number: 50110920931
Registry status : Live/Active
Previous name : None reported.
Change of legal form : None reported.
Key Management
Name : Hugh McKee
Designation : Managing Director
Appointments
Name : Hugh McKee
Designation : Director and Company Secretary
Appointment date : 10/09/04
Address : 1 Pascoe Street
Glen Iris, VIC 3146
Australia
Biography : Born on 04-03-1971 in Mount Isa, Queensland,
Australia.
Staff employed : 7 employees
Composition
Authorized Capital : AUD 100
No of shares : 100 Ordinary Shares
Share par value : AUD 1
Issued capital : AUD 100
Paid up capital : AUD 100
How listed : Full List
Composition
Shareholder name : Hugh McKee
Address : 1 Pascoe Street
Glen
Iris, VIC 3146
Australia
No. of shares : 100 Ordinary Shares
% of shares : 100%
Structure
Name : MINEMET TRADING PTE. LTD.
Affiliation type : Associate
Address : 4 Robinson Road
#08-01
The House of Eden
Singapore
048543
Singapore
Bank Details
Name of bank : National Australia Bank
Address : Australia
Account details : Current Account
Mortgages : None reported.
Legal Fillings
Bankruptcy fillings : None reported.
Court judgements : None reported.
Tax liens : None reported.
Others : None reported
Comments : The
representative contacted Mr. Hugh McKee declined to provide any financial
information until
the inquiring party details are revealed.
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 $12.5 million, and
-The company and
any entities it controls have fewer than 50 employees at the
end of the financial year.
Main activities : The Subject
engages in sourcing, import and export of scrap metal.
Product & services : -
- Scrap metals: Copper, Brass, Aluminium, Zinc, Stainless
Steel, Ferrous
- Recyclable materials
Purchases
International : Mainly from China,
India
Sales
Local : Yes
International : Mainly to China,
India
Property &
Assets
Premises : The Subject operates from the verified heading
address consisting of an
administrative office.
Branches : In addition, the Subject operates from a branch
office located in Sydney, Australia.
Gross Domestic
Products (GDP) & Economic Overview
Central bank : Reserve
Bank of Australia
Reserve of foreign exchange &
gold : US$ 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%
Purchase Term
International : Prepayment, L/C, Telegraphic
transfer, Credit 30-60 days
Sales Term
Local : Prepayment, Bank transfer, Credit 30-60 days
International : Prepayment, L/C, Telegraphic
transfer, Credit 30-60 days
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.61.32 |
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UK Pound |
1 |
Rs.102.54 |
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Euro |
1 |
Rs.84.19 |
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.