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Report Date : |
08.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
INDYA FOODS PTY LTD |
|
|
|
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Registered Office : |
Unit
1, 3-5 Graham Road, Clayton South, Victoria 3169 |
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|
|
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Country : |
Australia |
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Date of Incorporation : |
19.04.2006 |
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Com. Reg. No.: |
119324382 |
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|
|
|
Legal Form : |
Australian Proprietary Company |
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|
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Line of Business : |
Subject engages in import, marketing and distribution of Indian food products in Australia to cater for the South Asian descent. |
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No. of Employees |
25 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
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 |
|
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 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately 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 : INDYA FOODS PTY LTD
Business
address : Unit 1, 3-5 Graham Road
Town :
Clayton South
Province
: Victoria
Zip/postal
code : 3169
Country
: Australia
Tel : +61 3 95481122
Fax : +61 3 95481144
Email
: murali@indyafoods.com.au
Website
: www.indyafoods.com.au
Registered
address : Unit 1, 3-5 Graham Road
Town :
Clayton South
Province
: Victoria
Zip/postal
code : 3169
Country
: Australia
Executive
Summary
Date
founded or registered : 19/04/2006
Legal
form : Australian
Proprietary Company
Chief
executive : Murali
Metlapalli
Issued
& paid up capital : AUD 1,000
Line
of business : Importer,
marketer and distributor of Indian food products.
Staff
employed : 25
employees
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 stable
Detrimental
: No detrimental found
Payment
history : No payment
delays noted
Registry
Data
Registration
date : 19/04/2006
Legal
form : Australian
Proprietary Company
Registration
no Australian Company Number: 119324382
Registered
authority : Australian
Securities and Investments Commission
Fiscal/
Tax no : Australian Business Number: 64119324382
Registry
status : Live/Active
Previous
name : None
reported.
Change
of legal form : None
reported.
Key
Management
Name :
Murali Metlapalli
Designation
: Managing Director
Appointments
Name :
Saloman Raju
Kakumanu
Designation
: Director
Appointment
date : 19/04/06
Address
: 36 Crows Lane
Glen Waverley, VIC 3150
Australia
Biography
: Born on 05-01-1960 in
India.
Name :
Venkata Suresh
Konduru
Designation
: Director
Appointment
date : 19/04/06
Address
: 9 Douglas Court
Altona Meadows, VIC 3028
Australia
Biography
: Born on 15-08-1965 in
India.
Name :
Murali Metlapalli
Designation
: Director and Company
Secretary
Appointment
date : 19/04/06
Address
: Unit 77, 416A St
Kilda Road
Melbourne, VIC 3004
Australia
Biography
: Born on 20-02-1969 in
India.
Staff
employed : 25 employees
Composition
Authorized
Capital : AUD 1,000
No of
shares : 1,000
Ordinary Shares
Share
par value : AUD 1
Issued
capital : AUD
1,000
Paid
up capital : AUD
1,000
How
listed : Full
List
Composition
Shareholder
name : Murali Metlapalli
Address
: Unit
77, 416A St Kilda Road
Melbourne, VIC 3004
Australia
No. of
shares : 400
Ordinary Shares
% of
shares : 40%
Shareholder
name : Venkata Suresh
Konduru
Address
: 9
Douglas Court
Altona Meadows, VIC 3028
Australia
No. of
shares : 400
Ordinary Shares
% of
shares : 40%
Shareholder
name : Saloman Raju
Kakumanu
Address
: 36
Crows Lane
Glen Waverley, VIC 3150
Australia
No. of
shares : 200
Ordinary Shares
% of
shares : 20%
Structure
Related
companies and corporate : None
reported.
affiliations
comments
Bank
Details
Name
of bank : 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
Comments
: The representative contacted Mr. Murali Metlapalli advised that the Subject’s
annual
turnover is between AUD 12 million to AUD 15 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 $12.5 million, and
-The
company and any entities it controls have fewer than 50 employees at the
end of
the financial year.
Main activities
: The Subject
engages in import, marketing and distribution of Indian food
products in Australia to cater for the South Asian descent.
The Subject's products ranges from Indian groceries, spices
and healthcare
products.
Product
& services : Groceries and spices
products:
Cardamom, Saffron, Basmati Rice, Rose Water, Incense Sticks,
Sandalwood Soaps, Lentils, Variety of Dals, Pickles, Ready
to eat foods,
Frozen Foods and Vegetables, Indian Sweets, Tea, Pataks
Pickles and
Pastes, Papadums
Ayurvedic
Products:
Hair Care, Oral Care, Health Care, Skin Care, Home Care
& Foods
Others:
Indian Musical CDs and DVDs
Brand
: BAMBINO
BASMATI
BRITANNIA
DABUR
HALDIRAM'S
IDHAYAM
KAWAN
LEHAR
PILSBURY
PRESTIGE
PRIYA
TEZ
(RECON)
Purchases
International
: Malaysia, Canada, United
Arab Emirates, India
Sales
Local
: Yes
International
: No exports.
Property & Assets
Premises
: The Subject operates from premises at the verified heading address
consisting
of a warehouse and an administrative office.
Branches
: In addition, the Subject operates from the following branches located at:
20
Hallstrom Place
Wetherill
Park, NSW 2164
Australia
Tel:
+61 2 97562500
Unit
4, 25 Beafield Road
Para
Hills West, SA 5096
Australia
Tel:
+61 8 82584994
1/30 Hamilton
Street
Cannington,
WA 6107
Australia
Gross Domestic Products (GDP) &
Economic Overview
Central
bank : Reserve
Bank of Australia
Reserve
of foreign exchange & gold : US$
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
& 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
: Prepayment, Telegraphic transfer, D/P, Credit 30-90 days
Sales Term
Local
: Prepayment, Bank transfer, 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
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.03 |
|
|
1 |
Rs.101.96 |
|
Euro |
1 |
Rs.83.58 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
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|
Report Prepared
by : |
PDT |
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.