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Report No. : |
317614 |
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Report Date : |
21.04.2015 |
IDENTIFICATION DETAILS
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Name : |
MINEMET AUSTRALASIA PTY LTD |
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Registered Office : |
3/643 Newcastle Street Leederville, Western Australia 6007 |
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Country : |
Australia |
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Date of Incorporation : |
10.09.2004 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
The subject operates as a steel trading and recycling company. |
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No of Employees : |
7 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Australia |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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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 2014, Australia had experienced more than 20 years of continued economic growth, averaging more than 3% 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.
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Source
: CIA |
MINEMET AUSTRALASIA
PTY LTD
ACN: 110 920 931
ABN: 50 110 920
931
Summary
Panel
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Established |
2004 |
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Incorporated |
2004 |
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Line of Business
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Steel trading |
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Status |
Trading |
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Chief Executive
Officer |
Hugh McKee |
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Adverse Listings |
Nil |
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Company Type Australian
Proprietary Company
Incorporation Date: 10 Sep 2004
Incorporation State: Western Australia
Registered Office 3/643 NEWCASTLE Street
LEEDERVILLE, Western Australia
6007 Australia
Charges Date Registered: 21 Apr 2005
Chargee Name: 006 434 162 HSBC
BANK AUSTRALI
Charge Type: Fixed and floating
charge
ASIC Charge No: 1152395
Number of Shares Issued: 100
Paid Capital: 100
Shareholders Shareholder Name: HUGH MCKEE
Number of Shares: 90
PETER SHELDON
Number of Shares: 10
Directors MCKEE, HUGH
Appointment Date: 10 Sep 2004
Date of Birth: 04 Mar 1971
Gender: Male
Address: 1 PASCOE Street GLEN
IRIS, Victoria 3146 Australia
Resident Overseas: No
Secretary HUGH MCKEE
Appointment Date: 10 Sep 2004
SECURITY INTERESTS Effective
30 January 2012 the Personal Property Securities Register (PPSR) was introduced to give the different
Commonwealth, State and Territory laws and registers regarding security
interests in personal property under one national system.
TRADING ADDRESS unit
6, 209 Toorak Rd
SOUTH
YARRA, VIC 3141
TELEPHONE (613) 9826 8745
FACSIMLE (613) 9826 9586
WEBSITE http://www.minemet.com/
EMAIL trading@minemet.com
CONTROLLED
ENTITY MINEMET TRADING PTE
LTD
BANK HSBC
BANK
EMPLOYEES 7
The subject was incorporated
in Western Australia on 10 September 2004 to commence operations under the
current style.
The subject was
previously part of the Pechiney/Alcan Group before being taken over by the
subject.
The subject operates
as a steel trading and recycling company.
The subject can supply a range of primary and secondary metals that meet international standards including LME Grade A and Isri Specifications.
Metals
traded include copper, brass, aluminium, zinc, stainless steel, ferrous and specialty
items.
Activities are
conducted from premises located at the above listed trading address.
A search of of on 15 April 2015failed to trace any litigation listed
against the subject at that date.
The subject is not
required to lodge financial statements with the Australian Securities and
Investments Commission.
During the
current interview conducted with the subjects Financial Controller, he
confirmed the subjects search and operational details however declined to
release any details pertaining to the subjects financial or trading position as
a matter of company policy.
Details in this
regard were subsequently unable to be obtained for the current enquiry.
Previous
investigations have revealed that for the year ended 30 June 2011 the subject
recorded revenue of more than $55,000,000.
The subject
maintains a financing facility with the HSBC which is secured by a registered
charge and is used to assist in funding Working capital requirements.
Details
pertaining to the subjects suppliers were not released for the current enquiry.
A trade survey
was subsequently unable to be conducted.
Trade payment from
further sources in the past 4 months have traced the following data for the
subject.
Total Owing: $5,085
Total Past Due: $0
Average Late Payment Days: 0
All Industries Late Payment Days: 9
-
Within
terms: $5,085
-
1 – 30
days past due: $0
-
31 – 60
days past due: $0
-
61 – 90
days past due: $0
-
91+
days: $0
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 62.56 |
|
|
1 |
Rs. 93.56 |
|
Euro |
1 |
Rs. 67.49 |
INFORMATION DETAILS
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Analysis Done by
: |
KRN |
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Report Prepared
by : |
DPT |
RATING EXPLANATIONS
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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.