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Report No. : |
335853 |
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Report Date : |
12.08.2015 |
IDENTIFICATION DETAILS
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Name : |
GRIPWELL
AUSTRALIA PTY LTD |
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Registered Office : |
Unit
5, 72-74 Lower Gibbes Street, Chatswood, NSW 2067 |
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Country : |
Australia |
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Year of Establishment : |
1986 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Subject
is engaged in import and distribution of hardware and related products including
hand tools, security products, safety, garden supplies, camping and outdoor
equipment, automotive, marking and measuring, security and storage. |
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No. of Employee : |
15 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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Australia |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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
Following two decades of continuous growth, low unemployment, contained inflation, very low public debt, and a strong and stable financial system, Australia enters 2015 facing a range of growth constraints, principally driven by a sharp fall in global prices of key export commodities. Although demand for resources and energy from Asia and especially China has grown rapidly, creating a channel for resources investments and growth in commodity exports, sharp drops in current prices have already impacted growth. 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, although this trend could reverse or slow due to falling 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 entered into free trade agreements (FTAs) with the Republic of Korea and Japan, and concluded an FTA with China, in 2014, adding to existing FTAs with Chile, Malaysia, New Zealand, Singapore, Thailand, and the US, and a regional FTA with ASEAN and New Zealand. Australia continues to negotiate bilateral agreements with India and Indonesia, as well as larger agreements with its Pacific neighbors and the Gulf Cooperation Council countries, and an Asia-wide Regional Comprehensive Economic Partnership that includes the ten ASEAN countries and China, Japan, Korea, New Zealand and India. Australia is also working on the Trans-Pacific Partnership Agreement with Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the US, and Vietnam.
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Source
: CIA |
GRIPWELL
AUSTRALIA PTY LTD
ACN: 003 911 715
ABN: 23 003 911 715
Summary
Panel
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Established |
1986 |
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Incorporated
|
1990 |
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Line
of Business |
Distribution
of hardware and related supplies |
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Status |
Trading |
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Adverse
Listings |
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For
the last financial year ended 30 June 2015 the subject traded profitably and
recorded revenue in the order of $10,000,000.
On
a projected basis, improved results are forecast for the current financial year
ending 30 June 2016.
In
regards to asset backing the subjects Directors are noted to own the above
listed trading address through an associated entity.
Enquiries in trade quarters revealed satisfaction from suppliers
contacted in dealing with the subject on a credit basis.
Company
Type Australian Proprietary
Company
Incorporation State:
NSW
Incorporation Date: 11 DEC 1989
UNIT
5,
72-74
LOWER GIBBES STREET,
CHATSWOOD
NSW
2067
Total: 4
APNIT
SINGH RANA – Appointed: 01 OCT 1997
12
SIMPSON Street BELROSE, New South Wales
DOB:
22 NOV 1968
UPPINDER
SINGH BHATIA – Appointed: 01 OCT 1997
13
KELDIE Street FORESTVILLE, New South Wales
DOB:
24 NOV 1955
JAGJIT
SINGH RANA – Appointed: 16 JAN 1990
21
KENTHURST Road ST IVES, New South Wales
DOB:
15 AUG 1937
GULSHAN
JIT RANA – Appointed: 16 JAN 1990
21
KENTHURST Road ST IVES, New South Wales
DOB:
08 JUN 1948
Total: 1
GULSHAN
JIT RANA – Appointed: 16 JAN 1990
Total: 1
ORD
ORDINARY SHARES: 1000 –amount paid: $1,000
Total: 4
ORD
150 - UPPINDER SINGH BHATIA
ORD
150 - APNIT SINGH RANA
ORD
350 - GULSHAN JIT RANA
ORD
350 - JAGJIT SINGH RANA
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.
As
a result of PPS Reform a number of existing Commonwealth, State and Territory
personal property security registers will close. Interests registered on
existing security interest registers will be migrated to the national PPS
Register. Subsequently Registered Charges are no longer lodged with the
Australian Securities and Investments Commission (ASIC).
Please
contact us should you require a search of the PPSR.
TRADING
ADDRESS unit 5, 72 to 74 Gibbes St
CHATSWOOD,
NSW 2067
TELEPHONE (612) 9882 6011
FACSIMILE (612) 9882 6635
WEBSITE www.gripwell.com.au
BANK ANZ BANKING GROUP
EMPLOYEES 15
The
subject was incorporated in New South Wales on 11 December 1989 to commence
operations under the current style as a new venture.
The
subject operates in the import and distribution of hardware and related
products including hand tools, security products, safety, garden supplies,
camping and outdoor equipment, automotive, marking and measuring, security and
storage.
The
subject is a supplier to all the major Hardware and Home Improvement retailers
in Australia, New Zealand, Fiji and the Papua New Guinea.
A
search of of on 7 August 2015 failed 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 Director Upinda Bhattia he advised that
for the last financial year ended 30 June 2015 the subject traded profitably
and recorded revenue in the order of $10,000,000.
On
a projected basis, improved results are forecast for the current financial year
ending 30 June 2016.
Current
assets include stock on hand of just over $2,000,000 and receivables in the
order of $1,300,000.
The
subject maintains a financing facility with the ANZ Banking Group which is used
to assist in funding Working Capital requirements.
Current
liabilities include creditors in the order of $400,000.
In
regards to asset backing the subjects Directors are noted to own the above
listed trading address through an associated entity.
Enquiries in trade quarters revealed satisfaction from suppliers
contacted in dealing with the subject on a credit basis.
A
trade survey on the subject traced the following accounts:
1. (Transtar) Purchases average $30,000
per month on 30 day terms. Payment is met in 30 days and the account is
considered satisfactory having been known since 2000.
Trade
payment from further sources in the past 4 months have traced the following
data for the subject.
Total Owing: $14,372
Total Past Due: $7,612
Average
Late Payment Days: 20
All
Industries Late Payment Days: 7
Within
terms: $6,761
1
– 30 days past due: $4,664
31
– 60 days past due: $2,948
61
– 90 days past due: $0
91+
days: $0
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.17 |
|
|
1 |
Rs.99.84 |
|
Euro |
1 |
Rs.70.36 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
ASH |
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.