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Report Date : |
06.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
ULTIMATE
INTERNATIONAL PTY LTD |
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|
|
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Registered Office : |
C/O William
Buck (Nsw) Pty Limited Level 29, 66
Goulburn Street, Sydney, New South Wales, Zip Code 2000 |
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Country : |
Australia |
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Date of Incorporation : |
23.05.2007 |
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Com. Reg. No.: |
125569593 |
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Legal Form : |
Australian
Proprietary Company |
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Line of Business : |
engaged as importer and wholesaler of discount, variety, gift shop and general merchandise. |
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No of Employees : |
20 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Australia |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
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.
|
Source : CIA |
Verified Address
Subject name :
ULTIMATE INTERNATIONAL PTY
LTD
Business
address : 7-9 Underwood Road
Town : Homebush
Province : New South Wales
Zip/postal
code : 2140
Country : Australia
Tel : +61 2 87489999
Fax : +61 2 87489988
Email : jack@uipl.com.au
Website : www.uipl.com.au
Registered
address : C/o WILLIAM BUCK (NSW) PTY
LIMITED
Level 29, 66 Goulburn Street
Town : Sydney
Province : New South Wales
Zip/postal
code : 2000
Country : Australia
Operating address : Unit 2/172 Silverwater Road, Silverwater , Australia
Executive Summary
Date founded
or registered : 23/05/2007
Legal form : Australian
Proprietary Company
Chief
executive : Jaikishen
Tolani
Issued &
paid up capital : AUD 2
Line of business
: Importer and
wholesaler of discount, variety, gift shop and general merchandise.
Staff employed
: 20 employees
Credit Risk
Interpretation
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 and others. A cautious 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 stable
Detrimental : No detrimental found
Payment
history : No payment
delays noted
Registry Data
Registration
date : 23/05/2007
Legal form : Australian
Proprietary Company
Registration
no Australian Company
Number: 125569593
Registered
authority : Australian
Securities and Investments Commission
Fiscal/ Tax no
: Australian
Business Number: 72125569593
Registry
status : Live/Active
Previous name
: None reported.
Change of
legal form : None reported.
Key Management
Name : Jaikishen Tolani
Designation : Managing Director
Name : Chandru Tolani
Designation : Joint Managing Director
Appointments
Name : Jaikishen Tolani
Designation : Director
Appointment
date : 28/08/09
Address : 10 South Street
Strathfield, NSW 2135
Australia
Biography : Born on 30-09-1949 in Bombay,
India.
Name : Chandru Tolani
Designation : Director
Appointment
date : 28/08/09
Address : Unit 2, 360 Victoria Place
Drummoyne, NSW 2047
Australia
Biography : Born on 08-12-1951 in Bombay,
India.
Staff employed
: 20 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 : DEVABE PTY. LIMITED
Address : 7-9 Underwood Road
Homebush, NSW 2140
Australia
No. of shares
: 1 Ordinary Share
% of shares : 50%
Shareholder
name : FOCEGA PTY. LIMITED
Address : 7-9 Underwood Road
Homebush, NSW 2140
Australia
No. of shares
: 1 Ordinary Share
% of shares : 50%
Structure
Name : CHANDRU INTERNATIONAL
PTY LTD
Affiliation
type : Associate
Address : 7-9 Underwood Road
Homebush, NSW 2140, Australia
Bank Details
Name of bank : Commonwealth Bank of Australia
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
Comments : The representative contacted
Mr. Jaikishen Tolani 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 $12.5 million,
and
-The company and any entities it controls have fewer than 50
employees at the
end of the financial year.
Main activities : The Subject engages as
importer and wholesaler of discount, variety, gift
shop and general merchandise.
Product &
services : -
Recreation & Leisure
Sports & Leisure
Toys
Craft
Barbeque
- Stationery & Party
Stationery
Party
- Christmas Ideas
- Pet Products
Pet Care
Pet Toys
- Pharmacy Products
- TV Promo Lines
- Newsagency Supplies
- Electrical/Lighting
Electrical Accessories
Batteries
Lighting
Consumer Electronics
- Parallel Imports
- Apparel and Gifts
Fashion Accessories
Apparel
Giftware
- Slider
- Fragrances
- Watches & Clocks
Other Watches
Clocks
Wall Clocks
Table Clocks
Watches - Ladies
Leather Strap
Other
Metal Strap
Watches - Mens
Other
Leather Strap
Metal Strap
- Home
Bath
Food
Furniture
Bed & Manchester
Kitchen
Cookware
Mugs and Cups
Cutlery & Utensils
Disposables
Bakeware
Cleaning
Accessories
Luggage &
Bags
Laundry
Cleaning
Home Decor
Umbrellas
Other
Cosmetics
Gardening
- Auto &
Hardware
Hardware &
Gardening
Auto
Accessories
Household
Appliances
Purchases
International
: China, India, Taiwan,
Hong Kong, United Kingdom, United States, Japan, Indonesia
Sales
Local : Yes
International
: New Zealand, Pacific
Islands
Property &
Assets
Premises : The Subject operates from premises
at the verified heading address
consisting of a warehouse and an administrative office.
Branches : None reported.
Gross Domestic
Products (GDP) & Economic Overview
Central bank : Reserve
Bank of Australia
Reserve of foreign exchange & gold : US$ 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
& Poors: AAA
Moodys rating: Aaa
Moodys 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 : Telegraphic transfer, Prepayment, D/P, Credit 30-90 days
Sales Term
Local : Bank transfer, Credit
card, Prepayment, Credit 30-60 days
International
: Telegraphic 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.60.05 |
|
|
1 |
Rs.101.32 |
|
Euro |
1 |
Rs.83.34 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
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Report Prepared
by : |
MNL |
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 |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
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.