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Report Date : |
29.03.2014 |
IDENTIFICATION DETAILS
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Name : |
BRIGHT IMPEX INTERNATIONAL PTY LTD |
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Registered Office : |
C/O Danber Accounting
Professionals Pty. Ltd., Level 1, 13
Scott Street, Dandenong, Victoria, Zip Code 3175 |
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Country : |
Australia |
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Date of Incorporation : |
15.04.2005 |
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Com. Reg. No.: |
113838814 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
· Importer and distributor of grocery and food products. · Importer of highest quality Indian Groceries Melbourne (SAI brand) Subject products ranges includes:- · Rice · Flour · Dhals / Lentils · Spices / Masalas · Oils/Ghee · Papad · Health & Beauty Products · Meat · Pooja Items |
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No. of Employees : |
04 employees
including directors |
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
|
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 :
BRIGHT IMPEX INTERNATIONAL
PTY LTD
Business
address : 10 Kempson Court
Town : Keysborough
Province : Victoria
Zip/postal
code : 3173
Country : Australia
Tel : +61 3 97018860 /
423070215 (Mobile No.)
Fax : +61 3 97018864
Website : www.saigroceries.com.au
Registered address
: C/o DANBER ACCOUNTING PROFESSIONALS
PTY. LTD.
Level 1, 13 Scott Street
Town : Dandenong
Province : Victoria
Zip/postal
code : 3175
Country Australia
Executive Summary
Date founded
or registered : 15/04/2005
Legal form : Australian
Proprietary Company
Chief
executive : Saseendra
Chowdary Amarneni
Issued &
paid up capital : AUD 100
Sales turnover
: AUD 1,000,000
(Estimated Non-Consolidated 12 months, 30/06/2013)
Line of
business : Import and
distribution of grocery and food products.
Staff employed
: 4 employees
including directors
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. A strict credit control policy
applies.
Company Analysis
Country risk : Country risk is
minimal
Operation
trend : Operational
trend is steady
Management
experience : Management is
modestly experienced
Financial
performance : Financial
performance is fair
Organization
structure : Organizational
structure is acceptable
Detrimental : No detrimental found
Payment
history : No payment
delays noted
Registry Data
Registration
date : 15/04/2005
Legal form : Australian
Proprietary Company
Registration
no Australian
Company Number: 113838814
Registered
authority : Australian
Securities and Investments Commission
Fiscal/ Tax no
: Australian
Business Number: 93113838814
Registry
status : Live/Active
Previous name
: None reported.
Change of
legal form : None reported.
Key Management
Name : Saseendra Chowdary
Amarneni
Designation : Managing Director
Appointments
Name : Saseendra Chowdary
Amarneni
Designation : Director and Company Secretary
Appointment
date : 15/04/05
Address : 6 Narrellan Drive
Keysborough, VIC 3173
Australia
Biography : Born on 09-08-1964 in India.
Name : Joseph Wenceslaus
Edwards
Designation : Director
Appointment
date : 15/04/05
Address : 8 Shell Court
Patterson Lakes, VIC 3197
Australia
Biography : Born on 28-09-1964 in India.
Staff employed
: 4 employees including
directors
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 : Saseendra Chowdary Amarneni
Address : 6 Narrellan Drive
Keysborough, VIC 3173
Australia
No. of shares
: 38 Ordinary Shares
Shareholder
name : Joseph Wenceslaus Edwards
Address : 8 Shell Court
Patterson Lakes, VIC 3197
Australia
No. of shares
: 37 Ordinary Shares
Shareholder
name : Venkata Hanumath Suryacharan
Addepalli
Address : India
No. of shares
: 12 Ordinary Shares
Shareholder
name : Ramachandra Rao Addepalli
Address : India
No. of shares
: 13 Ordinary Shares
Structure
Related
companies and corporate affiliations comments
: None
reported.
Bank Details
Name of bank : The Australia and New Zealand Banking
Group Limited
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 bankers 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 : 30/06/13
Type of
accounts : Estimated
key figures
Currency : Australia
Dollar (AUD)
Exchange rate
: 1
USD = AUD 1.08 as of 28-03-2014
Summarized Financial
Information
Consolidation
type : Non
Consolidated
Currency : Australia
Dollar (AUD)
Denomination : (x1) One
Date of
financial year end : 30/06/13
Length of
accounts : 12
months
Sale turnover
/ Income : 1,000,000
Comments :
The estimated turnover was provided by Mr. Saseendra
Chowdary Amarneni.
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 $12.5
million, and
-The company and any entities it controls have fewer than 50 employees
at the end of the financial year.
Main activities
: The Subject engages in
import and distribution of grocery and food products.
Subject is an importer of highest quality Indian Groceries Melbourne (SAI brand)
Product & services:
· Rice
· Flour
· Dhals / Lentils
· Spices / Masalas
· Papad
· Oils/Ghee
· Health & Beauty Products
· Meat
· Pooja Items
Purchases
International
: Mainly from India,
Singapore, Malaysia
Sales
Local : Yes
International
: No exports.
Property &
Assets
Premises : The Subject operates from the
verified heading address consisting of a
warehouse and an administrative office.
Branches : None reported.
Gross Domestic
Products (GDP) & Economic Overview
Central bank :
Reserve
Bank of Australia
Reserve of
foreign exchange & gold : US$
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, Credit 30-60 days
Sales Term
Local : Bank transfer,
Prepayment, Credit 30-60 days
Trade Reference/
Payment Behaviour
Comments : As local and international trade
references were not supplied, the Subjects
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.60.09 |
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UK Pound |
1 |
Rs.99.85 |
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Euro |
1 |
Rs.82.58 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
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.