MIRA
INFORM REPORT
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Name :
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RIVERINA OILS & BIO ENERGY PTY LTD
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Registered Office :
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Unit 3, Level 1, 123 Whitehorse Road, Balwyn, Victoria 3103
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Country :
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Australia
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Date of Incorporation :
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12.02.2003
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Com. Reg. No.:
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Australian Company Number: 103697703
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Legal Form :
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Australian Proprietary Company, Limited by Shares
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Line of Business :
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The Subject owns and operates a state of the art
integrated oil seed crushing and refining plant with a crushing capacity of
500 tonnes of oil seeds per day.
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No. of Employees :
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70
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RATING
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STATUS
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PROPOSED CREDIT LINE
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26-40
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B
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Capability to overcome financial difficulties seems comparatively
below average.
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Small
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Status :
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Moderate
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Payment Behaviour :
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No complaints
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Litigation :
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Clear
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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
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Country Name
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Previous Rating
(31.03.2014)
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Current Rating
(01.06.2014)
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Australia
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A1
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A1
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Risk Category
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ECGC
Classification
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Insignificant
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A1
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Low
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A2
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Moderate
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B1
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High
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B2
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Very High
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C1
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Restricted
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C2
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Off-credit
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D
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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
CORPORATE DETAILS
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Verified
Address
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Subject name
RIVERINA OILS & BIO ENERGY PTY LTD
Business name / Other
RIVERINA OILS / SHERMAN EDIBLE OIL
Business address
Unit 3, Level 1
123 Whitehorse Road
Town
Balwyn
Province
Victoria
Zip / Postal code
3103
Country
Australia
Telephone
+61 3 94901700 / +61 3 98161900
Fax
+61 3 94991533
Email
info@riverinaoils.com.au
Website
www.riverinaoils.com.au
Remarks
The Subject's previous business address was Unit 1, 226 Upper Heidelberg
Road, Ivanhoe, VIC 3079, Australia.
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Registered address
C/O O'BRIEN BUSINESS CONSULTANTS PTY LTD
Suite 3, 50 Upper Heidelberg Road
Town
Ivanhoe
Province
Victoria
Zip / Postal code
3079
Country
Australia
Postal address
P.O. Box 498
Town
Ivanhoe
Province
Victoria
Zip / Postal code
3079
Country
Australia
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SUMMARY DETAILS
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Report
Summary
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Date registered
12/02/2003
Legal form
Australian Proprietary Company, Limited by Shares
Key personnel
Dhruv Deepak Saxena
Line of business
The Subject’s business consist of operation of an integrated oilseed crushing
and refining plant.
Staff employed
70 employees
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Paid-up capital
AUD 102,171,481.49
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CREDIT RISK OUTLOOK
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Credit
Risk Interpretation
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Credit risk theory
Some indications of financial and operational stress. More caution is
recommended when considering granting credit. Smaller credit plus loan
guarantees are an advantage, due to insufficient financial data. A strict
credit control policy applies.
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Subject’s
Credit Risk Analysis
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Country risk
Country risk is minimal
Operation trend
Operational trend is in start-up phase
Management experience
Management is modestly experienced
Financial performance
Financial performance is undetermined
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Organisation structure
Organisational structure is stable
Detrimental
No detrimental records found
Payment history
No payment delays noted
Credit amount requested
Not described.
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STATUTORY DETAILS
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Registry
Information
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Date registered
12/02/2003
Legal form
Australian Proprietary Company, Limited by Shares
Registration number
Australian Company Number: 103697703
Registered authority
Australian Securities and Investments Commission
Tax / VAT number
Australian Business Number: 25103697703
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Statutory status
Active
Previous name
None reported.
Change of legal form
None reported.
Other registration
The Subject owns the following business names:
RIVERINA OILS is a business name owned by the Subject
registered on 15/04/2010 under business registration no: B2273084E. RIVERINA
OILS is a business name owned by the Subject registered on 28/04/2010 under
business registration no: BN98498759. SHERMAN EDIBLE OIL is a business name
owned by the Subject registered on 15/01/1992 under business registration no:
1035587N.
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BOARD OF MANAGEMENT
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Key
Personnel
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Name
Dhruv Deepak Saxena
Designation
Managing Director
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BOARD OF DIRECTORS
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Appointments
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Name
Dhruv Deepak Saxena
Title
Director and Company Secretary
Appointment date
12/02/13
Address
19 Grey Street
Balwyn, VIC 3103
Australia
Biography
Born on 08-12-1952 in Allahabad, India.
Name
Satyanarayan Agarwal
Title
Director
Appointment date
20/08/07
Address
Unit 11, 3 Nandidurg Road
Bangalore, Karnataka 560046
India
Biography
Born on 15-01-1945 in Hissar, Haryana, India.
Name
Geeta Uppal
Title
Director
Appointment date
20/08/07
Address
Unit 841, 15th Main
III Block, Bangalore 560034
India
Biography
Born on 19-12-1957 in New Delhi, India.
Name
Abhishek Agarwal
Title
Director
Appointment date
05/10/09
Address
123E 54th Street
Apartment 9B, New York, NY 10022
United States
Biography
Born on 16-12-1976 in Mathura, India.
Name
Rodolfo Junco De La Vega Mendez
Title
Director
Appointment date
25/03/10
Address
Real De Palma #403
Colonia Del Valle, San Pedro
Garza Garcia, Nuevo Leon
Mexico
Biography
Born on 06-02-1979 in Monterry, Nuevo Leon, Mexico.
Name
Hian Siang Chan
Title
Director
Appointment date
30/06/11
Address
No 11 Third Avenue
Singapore 266584
Singapore
Biography
Born on 03-07-1957 in Singapore, Singapore.
Name
Chung Neng Woon
Title
Director
Appointment date
30/06/11
Address
D-0-3A Kiaramas Ayuria
9 Jalan Kiara 7
Bukit Kiara
Kuala Lumpur 50480
Malaysia
Biography
Born on 24-11-1960 in Batu Pahat, Johor Darul Takzim, Malaysia.
Name
Tjendana Wira
Title
Alternate Director
Appointment date
02/12/11
Address
Taman Alfa Indah, B-18/12 RT013/007
Joglo Embangan, Jakarta Barat
Indonesia
Biography
Born on 19-07-1962 in Jakarta, Indonesia.
Name
Ravi Uppal
Title
Alternate Director
Appointment date
02/12/11
Address
841, 15Th Main, 3Rd Block
Koramangla, Bangalore 560038
India
Biography
Born on 09-05-1952 in Jalandhar, India.
Name
Siddhartha Agarwal
Title
Alternate Director
Appointment date
02/12/11
Address
11/3 Nandidurg Road
Bangalore 560046
India
Biography
Born on 29-04-1975 in Bangalore, India.
Name
Joel Tat Chang
Title
Director
Appointment date
14/05/14
Address
Room 810-811, 8th Floor
141 Des Voeux Road
Central
Hong Kong
Biography
Born on 27-04-1968 in Hong Kong.
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Staff employed
70 employees
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SHARE CAPITAL
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Composition
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Authorized capital
AUD 102,171,481.49
Number / Type of shares
7,500,000 Class D Preference Shares / 16,000,000 Class N Preference Shares /
20,000,000 Class P Preference Shares / 10,000,000 Class Q Preference Shares /
4,932,481,435 Ordinary Shares
Share par value
No Par Value
Issued capital
AUD102,171,481.49
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Paid-up capital
AUD 102,171,481.49
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OWNERSHIP / SHAREHOLDERS
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Composition
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Shareholder name
RIVERINA OILS & BIO ENERGY (SINGAPORE) PTE LTD
Address
#09-01 Forum 583 Orchard Road
Singapore 238884
Singapore
Number / Type of shares
7,500,000 Class D Preference Shares / 16,000,000 Class N Preference Shares /
20,000,000 Class P Preference Shares / 10,000,000 Class Q Preference Shares /
4,914,319,286 Ordinary Shares
Shareholder name
PJ OVERSEAS PTE. LTD.
Address
29, Changi South Avenue 2
#03-00, Abv Industrial Building
Singapore 486444
Singapore
Number / Type of shares
18,162,139 Ordinary Shares
Shareholder name
ASIAWIDE AGRI HOLDINGS PTE LTD
Address
15 Beach Road
#05-11, Beach Centre
Singapore 189677
Singapore
Number / Type of shares
10 Ordinary Shares
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CORPORATE
AFFILIATIONS AND RELATED COMPANIES
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Structure
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Company name
RIVERINA OILS & BIO ENERGY (SINGAPORE) PTE LTD
Affiliation type
Parent Company
Country of business
#09-01 Forum 583 Orchard Road
Singapore, 238884
Singapore
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BANK AND MORTGAGES
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Bank
Details
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Name of bank
State Bank of India
Address
Australia
Name of bank
Axis Bank
Address
Australia
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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.
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Legal
Filings
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Bankruptcy filings
None reported.
Court judgements
None reported.
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Tax liens
None reported.
Others
None reported.
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FINANCIAL STATISTICS
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Remarks
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The representative contacted
Ms. Sai Li 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.
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BUSINESS DETAILS
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Operational
Details
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Main activities
The Subject owns and operates a state of the art integrated oil seed crushing
and refining plant with a crushing capacity of 500 tonnes of oil seeds per
day.
The plant can produce 200 tonnes of refined vegetable oil and 300 tonnes of
vegetable protein meal per day for the poultry, dairy and animal feed
industries.
The plant started commercial operations in February 2013.
Products and services
Refined vegetable oil
Vegetable protein meal
Biodiesel
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Purchases
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International
The Subject sources its product(s) / material(s) from countries such as
Belgium and Turkey.
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Sales
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Local
The Subject sells its product(s) locally.
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International
The Subject exports its product(s) to countries in Asia.
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Key events
22 July, 2013
Oilseeds refinery hoses down sale rumours
The country's second largest oilseed crushing and refining plant has denied
rumours its up for sale, less than five months into production.
The $100 million plant at Wagga Wagga in south-west NSW began processing
canola in February this year for the domestic and overseas bulk canola oil
markets.
DD Saxina, managing director of Riverina Oils and BioEnergy (ROBE), says the
business is not for sale, but admits there has been interest in the site.
"A company like us is a very major and attractive asset and therefore
there will always be people who will be interested in either a joint venture
with a company like us.
"The issue is there are people who are nibbling, but as I said I think
it is very premature."
Mr Saxine says if the decision was left to him, he'd like to continue expanding
production over the next three years, rather than sell the plant on its
potential.
But he says the shareholders' interests will always be a priority.
"Business is business, if someone walks in with a very attractive
cheque, we are a group of shareholders and I am the custodian of that wealth
for them.
"If I and the shareholders am convinced that that's a generally good
deal, then anything is on the table."
The plant is currently operating at 75 per cent capacity and ROBE expects to
crush in excess of 160,000 tonnes of canola seed next year.
Source: www.abc.net.au
14 December, 2012
$90m plant turns out first run of oil
THE Riverina Oils and Bio Energy Pty Ltd (ROBE) oilseed plant this week began
producing its first oil more than five years after the $90 million project
was first announced.
The plant has entered the first phase of oil production ahead of full-scale
commercial production in the coming months.
"You build a plant then you get into the commission phase," Wagga
mayor Rod Kendall said.
"This will be the first oil produced in the commission phase then you
move into full production."
The plant is touted as the icon of the Bomen industrial hub and a job of
"state significance".
It is also expected to underpin farming in the region, particularly the
production of canola.
"It will be ideal right now with canola," Wagga councillor Julian
McLaren said.
It is believed there is already significant seed stored on site.
The initial plans for the plant were to use 160,000 tonnes of oil seeds a
year and produce 25,000 tonnes of edible oil, 100,000 tonnes of meal and 75
million litres of biodiesel.
The project has been plagued by delays and financial woes and has run well
past the expected late 2011 start date.
ROBE managing director DD Saxena in June said issues with steel had
contributed to delays and cost overruns.
"The construction efficiency has been very poor," he said.
Source: www.dailyadvertiser.com.au
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Business
Facilities and Assets
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Premises
The Subject operates from the verified heading address consisting of an
administrative office.
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Branches
In addition, the Subject operates from a plant located at:
177 Trahairs Road
Bomen, Wagga Wagga
NSW 2650
Australia
Tel: +61 2 59423300
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SUMMARIZED COUNTRY RISK
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Gross
Domestic Products (GDP) and Economic Overview
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Central bank
Reserve Bank of Australia
Reserve of foreign exchange and gold
US$ 46.714 billion
Gross domestic product (GDP)
US$ 1.586 trillion
Purchasing power parity (GPP)
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%
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Public debt (general Government gross debt as percentage (%) of
GDP)
2010: 20.4%
2011: 22.9%
2012: 24%
Government bond ratings
Standard & Poor's: AAA
Moody's rating: Aaa
Moody's outlook: STA
Market value of publicly traded shares
US$1.198 trillion
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Trade
and Competitiveness Overview
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Total exports
US$263.9 billion
Export commodities
Coal, iron ore, gold, meat, wool, alumina, wheat, machinery and transport
equipment
Total imports
US$239.7 billion
Import commodities
Machinery and transport equipment, computers and office machines,
telecommunication equipment and parts; crude oil and petroleum products
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)
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Major export partners
China 27.4%, Japan 19.2%, South Korea 8.9%, India 5.8%
Major import 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
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Country
and Population Overview
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Total population
22.68 million
Total area
7,692,024 km2
Capital
Canberra
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Currency
Australian dollars (AUD)
Internet users as percentage (%) of total population
79%
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PAYMENT OUTLOOK
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Purchases
Term
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International
L/C, Telegraphic transfer, D/P, Credit 30-90 days
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Sales
Term
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Local
Prepayment, Bank transfer, D/P, Credit 30-90 days
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International
L/C, Telegraphic transfer, D/P, Credit 30-90 days
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Trade
Reference / Payment Behaviour
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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.
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Investigation
Note
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Sources
Interviews and material provided by the Subject
Other official and local business sources
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Currency
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Unit
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Indian Rupees
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US Dollar
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1
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Rs.61.62
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UK Pound
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1
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Rs.99.12
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Euro
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1
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Rs.78.89
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Analysis Done by
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SUB
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Report Prepared
by :
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PDT
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RATING
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STATUS
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PROPOSED CREDIT LINE
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>86
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Aaa
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Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums
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Unlimited
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71-85
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Aa
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Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums
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Large
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56-70
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A
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Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums
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Fairly Large
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41-55
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Ba
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Overall operation is considered normal. Capable to meet normal
commitments.
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Satisfactory
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26-40
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B
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Capability to
overcome financial difficulties seems comparatively below average.
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Small
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11-25
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Ca
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Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity
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Limited with
full security
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<10
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C
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Absolute credit risk exists. Caution needed to be exercised
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Credit not recommended
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--
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NB
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New Business
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--
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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.
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