|
Report Date : |
13.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
NEW HORIZONS HOLIDAYS PTY LIMITED |
|
|
|
|
Formerly Known as : |
DIRECT RESERVATIONS
PTY LIMITED |
|
|
|
|
Registered Office : |
Level 1, 35-43 Grafton Street, Bondi Junction, New South Wales, Zip code 2022 |
|
|
|
|
Country : |
Australia |
|
|
|
|
Financials (as on) : |
31.12.2013 (Non - Consolidated) |
|
|
|
|
Date of Incorporation : |
23.03.1988 |
|
|
|
|
Com. Reg. No.: |
003480368 |
|
|
|
|
Legal Form : |
Australian Proprietary Company |
|
|
|
|
Line of Business : |
· provider of tour and related services in Australia. Subject product ranges includes Holiday Vacation Packages |
|
|
|
|
No of Employees : |
30 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
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 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
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 : NEW HORIZONS HOLIDAYS PTY LIMITED
Business address : Level 1, 74 Wittenoom Street
Town : East Perth
Province : Western Australia
Zip/postal code : 6004
Country : Australia
Tel : +61 8 92683777
Fax : +61 8 82673791
Email : travel@newhorizons.com.au
Website : www.newhorizons.com.au
Registered address : Level 1, 35-43 Grafton Street
Town : Bondi Junction
Province : New South Wales
Zip/postal code : 2022
Country : Australia
Executive Summary
Date founded or registered : 23/03/1988
Legal form : Australian
Proprietary Company
Chief executive : John Anthony Weeks
Issued & paid up capital
: AUD 191,100
Sales turnover : AUD 34,943,389 (Non-Consolidated 12
months, 31/12/2013)
Net income : AUD -15,896 (Non-Consolidated 12 months, 31/12/2013)
Total fixed assets : AUD 9,350,918
(Non-Consolidated 12 months, 31/12/2013)
Line of business : Provider of tour and
related services.
Staff employed : 30 employees
Credit Risk
Interpretation
Credit risk theory : Reasonable
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, profit after tax, total
assets, reserve, 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 adequately 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 : 23/03/1988
Legal form : Australian
Proprietary Company
Registration no Australian Company
Number: 003480368
Registered authority : Australian Securities and
Investments Commission
Fiscal/ Tax no : Australian Business
Number: 11003480368
Registry status : Live/Active
Previous name : VANATE PTY LTD, DIRECT
RESERVATIONS PTY. LIMITED
VANATE PTY. LIMITED (initial)
Change of legal form None reported
Key Management
Name : John Anthony Weeks
Designation : Managing Director
Appointments
Name : Michael Anthony Ness
Designation : Director
Appointment date : 21/11/91
Address : Rue De Rive 20 Nyon 1260
Switzerland
Biography : Born on 13-08-1945 in
Bedford, United Kingdom.
Name : John Anthony Weeks
Designation : Director
Appointment date : 06/02/01
Address : Unit 3, 1 Avenue Road
Mosman, NSW 2088, Australia
Biography : Born on 30-07-1949 in London,
United Kingdom.
Name : Christopher Evans
Designation : Director
Appointment date : 19/09/11
Address : 104 Coode Street
South
Perth, WA 6151
Australia
Biography : Born on 05-08-1968 in
Maesteg, United Kingdom.
Name : James John ODonnell (need
to add apostrophe)
Designation : Company Secretary
Appointment date : 30/08/02
Address : 46 Cambridge Street
Paddington,
NSW 2021
Australia
Biography : Born on 30-07-1968 in
Brisbane, Queensland, Australia.
Staff employed : 30 employees
Key Advisors
Auditors : KPMG
10 Shelley
Street
Sydney,
NSW 2000
Australia
Composition
Authorized Capital : AUD 191,100
No of shares : 191,100 Ordinary Shares
Share par value : AUD 1
Issued capital : AUD 191,100
Paid up capital : AUD 191,100
How listed : Full List
Composition
Shareholder name : TTC TRAVEL GROUP LIMITED
Address : Granary House,
The Grange
St Peter
Port, GY1 2QG
Guernsey
No. of shares : 191,100 Ordinary
Shares
% of shares : 100%
Structure
Name : THE TRAVEL CORPORATION
LTD
Affiliation type : Ultimate Holding Company
Address : British Virgin Islands
Comments : The Travel Corporation, through
its subsidiaries, operates tour and travel
agencies,
hotels, and leisure facilities. The company operates through travel
companies such as popular travel
companies as Trafalgar, Insight, Brendan, and
Contiki. The company also operates a chain of hotels.
Name : TTC TRAVEL GROUP
LIMITED
Affiliation type : Parent Company
Address : Granary House, The Grange
St Peter
Port, GY1 2QG
Guernsey
Name : THE TRAVEL CORPORATION
PTY LTD
Affiliation type : Sister Company
Address : Level 1, 35-43 Grafton
Street
Bondi Junction, NSW
2022
Australia
Name : CREATIVE
TOURS PTY LTD
Affiliation type : Associate
Address : Level 1, 35-43 Grafton Street
Bondi Junction, NSW
2022
Australia
Name : TRAFALGAR
TOURS (AUST) PTY LTD
Affiliation type : Associate
Address : Level
1, 35-43 Grafton Street
Bondi Junction, NSW
2022
Australia
Related
companies and corporate affiliations comments
Other companies of the Travel Corporation Group should be considered affiliated companies of the Subject.
Bank Details
Name of bank : The Australia and New Zealand
Banking Group Limited (ANZ Bank)
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 banker's 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
: Commercial Registry
Filings
Financial statement date : 31/12/13
Type of accounts : Full audited
Currency : Australia
Dollar (AUD)
Exchange rate : 1 USD = AUD
1.06 as of 12-05-2014
Summarized
Financial Information
Consolidation type : Non Consolidated Non Consolidated
Currency : Australia
Dollar (AUD) Australia
Dollar (AUD)
Denomination : (x1) One (x1) One
Date of financial year end : 31/12/13 31/12/12
Length of accounts : 12 months 12 months
Sale turnover / Income : 34,943,389 32,360,232
Gross profit : 2,071,627
2,266,334
Profit before tax : -13,249 439,123
Net income : -15,896
426,029
Non current assets : 1 1
Current assets : 9,350,917 10,466,823
Total assets : 9,350,918 10,466,824
Current liabilities : 6,086,854 7,157,348
Non current liabilities : 7,202 36,718
Total liabilities : 6,094,056 7,194,066
Share equity : 3,256,862 3,272,758
Retained earning : 3,065,762 3,081,658
Main activities : The Subject provides
tour and related services in Australia.
The
Subject is ultimately owned by The Travel Corporation Ltd, a global
travel
group with over 30 award-winning brands.
Product & services : Holiday vacation packages
Sales
Local : Yes
International : The Subject provides
holiday vacation packages to locations worldwide.
Property &
Assets
Premises : The Subject
operates from the verified heading address consisting of 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%
Sales Term
Local : Credit Card, Bank
Transfer
International : Credit Card, Telegraphic
Transfer
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.59.73 |
|
|
1 |
Rs.100.82 |
|
Euro |
1 |
Rs.82.22 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.