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Report Date : |
17.10.2014 |
IDENTIFICATION DETAILS
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Name : |
AUSTRALIAN WEAVING MILLS PTY LTD |
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Registered Office : |
41 Tasman Street Devonport Tasmania 7310 |
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Country : |
Australia |
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Financials (as on) : |
30.06.2012 |
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Date of Incorporation : |
02.07.1945 |
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Com. Reg. No.: |
004240386 |
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Legal Form : |
Australian Proprietary Company, Limited by Shares |
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Line of Business : |
Subject is an dormant company. [We tried to confirm / obtain the detailed activity but the same is
not available from any sources] |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
Dormant |
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Payment Behaviour : |
-- |
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Litigation : |
-- |
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 |
AUSTRALIAN
WEAVING MILLS PTY LTD
|
Verified
Address |
|
Subject
name Business
name / Other |
Registered
address |
|
Report
Summary |
|
Date
registered |
Paid-up
capital |
|
Subject’s
Credit Risk Analysis |
|
Country
risk |
Organisation
structure |
|
Registry
Information |
|
Date
registered |
Statutory
status |
|
Key
Personnel |
|
Name |
|
|
Appointments |
|
Name |
Staff
employed |
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Composition |
|
Authorized
capital |
Paid-up
capital |
|
Composition |
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How
listed |
|
|
Structure |
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Company
name |
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Bank
Details |
|
Name
of bank |
Comments |
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Mortgages |
|
None reported. |
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Legal
Filings |
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Bankruptcy
filings |
Tax
liens |
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Description |
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Financial
statement source |
Currency
of financial statement |
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Concise Financial Data |
Consolidation style |
Non-Consolidated |
Non-Consolidated |
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Currency |
Australia Dollar (AUD) |
Australia Dollar (AUD) |
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Date of financial year end |
30/06/12 |
30/06/11 |
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Length of financial
accounts |
12 months |
12 months |
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Sales turnover / Revenue /
Income |
29,135,935.00 |
34,094,280.00 |
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Gross profit |
3,817,975.00 |
7,919,083.00 |
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Profit / Loss before tax |
-2,518,766.00 |
223,272.00 |
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Net income / loss |
-2,518,766.00 |
223,272.00 |
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Non-current assets |
2,785,071.00 |
4,618,709.00 |
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Property, plant and
equipment |
2,410,071.00 |
4,243,709.00 |
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Current assets |
15,891,030.00 |
18,391,093.00 |
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Inventories |
9,457,250.00 |
12,180,510.00 |
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Cash and cash equivalents |
901,334.00 |
508,310.00 |
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Accounts receivable |
5,154,572.00 |
5,419,237.00 |
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Total assets |
18,676,101.00 |
23,009,802.00 |
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Current liabilities |
6,156,144.00 |
6,364,513.00 |
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Non-current liabilities |
13,495,036.00 |
5,381,681.00 |
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Accounts payable |
1,550,122.00 |
2,986,020.00 |
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Total liabilities |
19,651,180.00 |
11,746,194.00 |
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Share equity |
-975,079.00 |
11,263,608.00 |
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Retained earnings |
-20,400,255.00 |
-16,814,155.00 |
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Remarks |
|
The Subject business has been taken over by
an associated company AUSTRALIAN WEAVING PTY LTD under the Australian Company
Number: 164158589 and Australian Business Number: 22164158589 since 1st
January 2014. The Subject now is a dormant company. |
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Operational
Details |
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Main
activities |
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Purchases |
|
Local |
International |
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Sales |
|
Local |
International |
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Business
Facilities and Assets |
|
Premises |
Branches |
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Gross
Domestic Products (GDP) and Economic Overview |
|
Central
bank |
Public
debt (general Government gross debt as percentage (%) of GDP) |
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Trade
and Competitiveness Overview |
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Total
exports |
Major
export partners |
|
Country
and Population Overview |
|
Total
population |
Currency |
|
Purchases
Term |
|
Local |
International |
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Sales
Term |
|
Local |
International |
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Trade
Reference / Payment Behaviour |
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Comments |
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Investigation
Note |
|
Sources |
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For financial year end |
30/06/12 |
30/06/11 |
. |
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Profitability |
. |
. |
. |
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Gross profit (loss) margin (%) |
13.10 |
23.23 |
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Pre-tax profit (loss) margin (%) |
-8.64 |
-8.64 |
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Net profit (loss) margin (%) |
-8.64 |
0.65 |
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Earnings per share (currency based on financial statement) |
-144.06 |
12.77 |
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Return on Invested Capital |
. |
. |
. |
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Return on assets (%) |
-13.49 |
0.97 |
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Return on equity (%) |
258.31 |
1.98 |
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Liquidity |
. |
. |
. |
|
Current ratio |
2.58 |
2.89 |
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Quick ratio |
1.05 |
0.98 |
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Cash ratio |
0.06 |
0.03 |
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Accounts receivable turnover ratio (times) |
5.65 |
6.29 |
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Accounts payable turnover ratio (times) |
18.80 |
11.42 |
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Collection period (days) |
64.57 |
58.02 |
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Payment period (days) |
19.42 |
31.97 |
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Inventory turnover ratio (times) |
3.08 |
2.80 |
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Inventory conversion period (days) |
118.48 |
130.40 |
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Asset Management |
. |
. |
. |
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Fixed asset turnover ratio (times) |
12.09 |
8.03 |
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Asset turnover ratio (times) |
1.56 |
1.48 |
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Capital Structure and
Solvency |
. |
. |
. |
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Total debt to asset ratio (%) |
105.22 |
51.05 |
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Total debt to equity ratio (%) |
-2,015.34 |
104.28 |
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Non-current debt to equity ratio (%) |
-1,383.99 |
47.78 |
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.48 |
|
|
1 |
Rs.98.24 |
|
Euro |
1 |
Rs.78.66 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
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Report Prepared
by : |
NIS |
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 |
-- |
|
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.