|
Report No. : |
337499 |
|
Report Date : |
26.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
TANTRA IMPORTS PTY LTD |
|
|
|
|
Registered Office : |
'Springetts Arcade'
Suite 106, 37 Wingecarribee Street, Bowral, Nsw 2576 |
|
|
|
|
Country : |
Australia |
|
|
|
|
Year of Establishment : |
2006 |
|
|
|
|
Legal Form : |
Australian Proprietary Company |
|
|
|
|
Line of Business : |
Subject is import and wholesale of mirrors and mirrored furniture |
|
|
|
|
No. of Employee : |
15 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No complaints |
|
|
|
|
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) |
|
Australia |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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.
|
Source
: CIA |
NAME
GIVEN TANTRA IMPEX
SPECIAL NOTE A search of failed to
trace any registered company under the current style. It was later revealed
that the correct legal name is Tantra Imports Pty Ltd. The following report was
subsequently conducted on this entity.
TANTRA IMPORTS PTY
LTD
ACN: 119 822 212
ABN: 90 119 822
212
|
Summary Panel |
||
|
Established |
2006 |
|
|
Incorporated |
2006 |
|
|
Line of Business
|
FURNITURE IMPORT AND WHOLESALE |
|
|
Status |
TRADING |
|
For the last financial
year ended 30 June 2015 the subject traded profitably and recorded revenue of
$1,500,000 to $2,000,000.
On a projected
basis, similar results are forecast for the current financial year ending 30
June 2016.
The subject
maintains no overdraft facilities or further external borrowings as all
operations are funded through the internal cashflows of the company.
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: QLD
Incorporation
Date: 23 MAY 2006
Registered
Office
'SPRINGETTS
ARCADE' SUITE 106,
37 WINGECARRIBEE
STREET,
BOWRAL
NSW 2576
Total: 2
PETER WILLIAM SMYTH
– Appointed: 23 MAY 2006
102 JOADJA
Crescent BOWRAL, New South Wales
DOB: 30 JUN 1967
TARANVIR SINGH –
Appointed: 23 MAY 2006
7 INVERNESS
Place BOWRAL, New South Wales
DOB: 07 MAY 1965
Total: 1
TARANVIR SINGH –
Appointed: 23 MAY 2006
Total: 1
ORD ORDINARY
SHARES: 20 – amount paid: $20
Total: 2
ORD 14 -
TARANVIR SINGH
ORD 6 - PETER
WILLIAM SMYTH
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 29 Priestly St
MITTAGONG,
NSW 2575
POSTAL ADDRESS PO Box 2539
Bowral NSW 2576
TELEPHONE (612) 4871 2488
FACSIMILE (612) 4871 2788
TRADING STYLE TANTRA MIRRORS
EMAIL enquiries@tantramirrors.com.au
WEBSITE www.tantramirrors.com.au
BANK NATONAL AUSTRALIA
BANK
WESTPAC BANK
EMPLOYEES 15
The subject was incorporated in Queensland on 23 May 2006 as Starstrike P/L changing name to the current style on 28 August 2008.
The subject operates in the import and
wholesale of mirrors and mirrored furniture.
The subject supply major retail
stores, interior designers, decorators and building developers.
Activities are
conducted from premises located at the above listed trading address.
A search of of
on 7 November 2012 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 the subjects Administration Manager she advised that
for the last financial year ended 30 June 2015 the subject traded profitably
and recorded revenue of $1,500,000 to $2,000,000.
On a projected
basis, similar results are forecast for the current financial year ending 30
June 2016.
Current assets
include stock on hand of $200,000 to $300,000.
The subject
maintains no overdraft facilities or further external borrowings as all
operations are funded through the internal cashflows of the company.
Further details
pertaining to the subject’s financial position were unable to be obtained for
the current enquiry.
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. (Pedemonts Furniture Removal) Nominated
supplier is yet to respond to correspondence.
2. (Highland Glass) Purchases average $500
per month on 30 day terms. Payment is met in 30 days and the account is
considered satisfactory having been known since 2010.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.71 |
|
|
1 |
Rs.105.10 |
|
Euro |
1 |
Rs.77.11 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ASH |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>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 |
|
-- |
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.