MIRA INFORM REPORT
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Report Date : |
05.11.2014 |
IDENTIFICATION DETAILS
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Name : |
TEMPO HOLIDAYS PTY LTD |
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Registered Office : |
‘Cox & Kings House’, 72 Market Street, South Melbourne, Victoria,
3205 |
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Country : |
Australia |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
09.11.1989 |
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Com. Reg. No.: |
007331213 |
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Legal Form : |
Australian Proprietary Company, Limited by Shares |
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Line of Business : |
The Subject operates as a wholesale travel agent. |
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No of Employees : |
83 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Australia |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
CORPORATE
DETAILS
|
Verified Address |
|
Subject
name |
Registered
address |
SUMMARY
DETAILS
|
Report Summary |
|
Date
registered |
Paid-up
capital |
|
Subject’s Credit
Risk Analysis |
|
Country
risk |
Organization
structure |
STATUTORY
DETAILS
|
Registry
Information |
|
Date
registered |
Statutory
status |
BOARD
OF MANAGEMENT
|
Key Personnel |
|
Name |
|
BOARD
OF DIRECTORS
|
Appointments |
|
Name |
Staff
employed |
|
Other
Appointments |
|
Auditor |
|
SHARE
CAPITAL
|
Composition |
|
Authorized
capital |
Paid-up
capital |
OWNERSHIP
/ SHAREHOLDERS
|
Composition |
|
Shareholder
name |
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CORPORATE
AFFILIATIONS AND RELATED COMPANIES
|
Structure |
|
Company
name |
Remarks
on corporate affiliations and related companies |
BANK
AND MORTGAGES
|
Bank Details |
|
Name
of bank |
Comments |
|
Mortgages |
|
None reported. |
|
|
Legal Filings |
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Bankruptcy
filings |
Tax
liens |
FINANCIAL
STATISTICS
|
Description |
|
Financial
statement source |
Currency
of financial statement |
|
Concise Financial Data |
Consolidation style |
Non Consolidated |
Non Consolidated |
Group Consolidated |
|
|
Currency |
Australia Dollar
(AUD) |
Australia Dollar
(AUD) |
India, Rupee (INR) |
|
|
Date of financial year end |
31/03/13 |
30/06/12 |
31/03/14 |
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|
Length of financial accounts |
9 months |
12 months |
12 months |
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|
Sales turnover / Revenue / Income |
31,546,625.00 |
55,541,233.00 |
23,506,600,000.00 |
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Profit / Loss before tax |
1,999,174.00 |
5,665,155.00 |
6,133,400,000.00 |
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Net income / loss |
974,245.00 |
4,501,883.00 |
4,490,600,000.00 |
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Non-current assets |
367,125.00 |
2,521,877.00 |
67,126,800,000.00 |
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Property, plant and equipment |
292,827.00 |
468,620.00 |
22,882,200,000.00 |
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Current assets |
38,992,557.00 |
34,225,246.00 |
37,680,700,000.00 |
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Inventories |
|
|
199,100,000.00 |
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Cash and cash equivalents |
19,149,025.00 |
29,080,220.00 |
13,786,300,000.00 |
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Accounts receivable |
5,520,460.00 |
941,713.00 |
11,355,800,000.00 |
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Total assets |
39,359,682.00 |
36,747,123.00 |
104,807,500,000.00 |
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Current liabilities |
21,220,885.00 |
19,635,027.00 |
30,713,800,000.00 |
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Non-current liabilities |
108,750.00 |
56,292.00 |
48,339,200,000.00 |
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Accounts payable |
20,925,825.00 |
19,314,006.00 |
5,427,700,000.00 |
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Total liabilities |
21,329,635.00 |
19,691,319.00 |
79,053,000,000.00 |
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Share equity |
18,030,047.00 |
17,055,804.00 |
25,754,500,000.00 |
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Retained earnings |
17,913,048.00 |
16,938,803.00 |
16,866,500,000.00 |
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Remarks |
|
The non-consolidated financial information
above relates to the Subject only. The Subject has changed its financial
reporting period to 31 March 2013 to be aligned with that of its ultimate
parent entity. |
BUSINESS
DETAILS
|
Operational
Details |
|
Main
activities |
|
Purchases |
|
Local |
International |
|
Sales |
|
Local |
International |
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Business
Facilities and Assets |
|
Premises |
Branches |
SUMMARIZED
COUNTRY RISK
|
Gross Domestic
Products (GDP) and Economic Overview |
|
Central
bank |
Public
debt (general Government gross debt as percentage (%) of GDP) |
|
Trade and
Competitiveness Overview |
|
Total
exports |
Major
export partners |
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Country and
Population Overview |
|
Total
population |
Currency |
PAYMENT
OUTLOOK
|
Sales Term |
|
Local |
|
|
Trade Reference
/ Payment Behaviour |
|
Comments |
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|
Investigation
Note |
|
Sources |
KEY
FINANCIAL RATIOS
|
For financial year end |
31/03/13 |
30/06/12 |
. |
|
Profitability |
. |
. |
. |
|
Pre-tax profit
(loss) margin (%) |
6.34 |
10.20 |
|
|
Net profit (loss)
margin (%) |
3.09 |
8.11 |
|
|
Earnings per share (currency
based on financial statement) |
8.33 |
38.48 |
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Return on Invested Capital |
. |
. |
. |
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Return on assets (%) |
2.48 |
12.25 |
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Return on equity (%) |
5.40 |
26.40 |
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Liquidity |
. |
. |
. |
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Current ratio |
1.84 |
1.74 |
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Quick ratio |
1.84 |
1.74 |
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Cash ratio |
0.49 |
0.85 |
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Accounts receivable
turnover ratio (times) |
5.71 |
58.98 |
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Accounts payable
turnover ratio (times) |
1.51 |
2.88 |
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Asset Management |
. |
. |
. |
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Fixed asset turnover
ratio (times) |
107.73 |
118.52 |
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Asset turnover ratio
(times) |
0.80 |
1.51 |
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Capital Structure and Solvency |
. |
. |
. |
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Total debt to asset
ratio (%) |
54.19 |
53.59 |
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Total debt to equity
ratio (%) |
118.30 |
115.45 |
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Non-current debt to
equity ratio (%) |
0.60 |
0.33 |
|
ATTACHMENT
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.41 |
|
|
1 |
Rs.98.06 |
|
Euro |
1 |
Rs.76.67 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
TPT |
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 |
|
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 |
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-- |
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.