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Report No. : |
352801 |
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Report Date : |
07.12.2015 |
IDENTIFICATION DETAILS
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Name : |
PARSRAM FOODS PTY LTD |
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Registered Office : |
724 Curtin Ave E Pinkenba, Qld, 4008 |
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Country : |
Australia
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Date of Incorporation : |
30.01.2014 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
The subject operates in the import and distribution of food
ingredients and spices. |
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No. of Employees : |
25 |
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 |
REGISTERED NAME PARSRAM FOODS PTY LTD
ACN: 167 791 095
ABN: 39 167 791 095
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Summary Panel |
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Established |
1977 |
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Incorporated |
2014 |
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Line of Business |
Import and wholesale of food products |
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Status |
Trading |
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Chief Executive Officer |
Bhoomi Punj |
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Adverse Listings |
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The subject was formed to take over the assets and operations of the
associated entity Parsram Group Pty Ltd effective 1 July 2014.
For the last financial year ended 30 June 2015 the subject traded profitably
and recorded revenue of $10,000,000 to $12,000,000.
On a projected basis the subject expects to record revenue of close to
$15,000,000 for the current financial year ending 30 June 2016.
The subject maintains a financing facility with its bankers which has a
$2,000,000 ceiling limit.
In regards to asset backing the subjects Director is noted to own the
premises located at the above listed trading address.
Company Type Australian Proprietary Company
Status Registered
Incorporation Date 30 Jan 2014
Incorporation
State QLD
Registered Office 724 CURTIN AVE E PINKENBA
QLD, 4008
Current Directors Total: 1
Director Name PUNJ, BHOOMI PAL
Appointment Date 30 Jan 2014
Date of Birth 03 Jan 1973
Place of Birth NEW DELHI INDIA
Gender MALE
Resident Overseas N
Address 23 EDSON ST, KENMORE QLD
4069
Document Number 2E0181694
Current Secretaries Total: 1
Secretary Name PUNJ, ANITA
Appointment Date 30 Jan 2014
Date of Birth 18 Aug 1969
Place of Birth SINGAPORE
Address 58 EDSON STREET KENMORE
QLD, 4069
Document Number 7E5817073
Company Shares Total: 30000 Amount: $30,000
Class ORDINARY [ORD]
Number of Shares Issued 30000
Paid Capital $30,000.00
Total Amount Due and Payable $0.00
Document Number 7E5820820
Current Shareholders
Shareholder Name PUNJ INTERNATIONAL PTY. LTD.
ACN 067456651
ABN 13067456651
Address 724 CURTIN AVE E PINKENBA
QLD, 4008
Class ORD
Number Held 30000
Beneficially Held N
Fully Paid Y
Jointly Held N
Document Number 7E5820820
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).
TRADING ADDRESS 724
CURTIN AVE
E PINKENBA QLD,
4008
TELEPHONE (617)
3632 7400
(617)
3632 7433 (Direct Line)
FACSIMILE (617)
3632 7466
EMAIL foods@parsram.com
WEBSITE http://www.parsram.com/
ASSOCIATED ENTITY PARS-RAM
BROTHERS (AUSTRALIA) P/L
CAIRNS
COMMODITIES P/L
RADISA
TRADING P/L
PARSRAM
GROUP PTY LTD
BANK WESTPAC
BANKING CORPORATION
EMPLOYEES 25
The subject was incorporated in Queensland on 30 January 2014 under the
current style.
The subject was formed to take over the assets and operations of the
associated entity Parsram Group Pty Ltd effective 1 July 2014.
Group operations were founded in 1977.
The subject operates in the import and distribution of food ingredients
and spices.
The subject are exclusive importers and distributors for leading and
well-known Brands like Maggi (Nestle India), Aashirwaad (ITC Ltd), Tilda Rice,
Ashoka (ADF foods ltd), Gits Foods, Eastern Spices, Kawan Foods, Catch Spices,
Nanak’s frozen(Canada) and many other leading brands, our network covers entire
Australian ethnic retail and foodservice trade
Activities are conducted from premises located at the above listed
trading address.
A search of of on 30 November 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 Bhoomi Punj, he
advised that the subject was formed to take over the assets and operations of
the associated entity Parsram Group Pty Ltd effective 1 July 2014.
For the last financial year ended 30 June 2015 the subject traded
profitably and recorded revenue of $10,000,000 to $12,000,000.
On a projected basis the subject expects to record revenue of close to
$15,000,000 for the current financial year ending 30 June 2016.
Current assets include stock on hand of $2,000,000 to $1,600,000 and
receivables of $2,160,000.
The subject maintains a financing facility with its bankers which has a
$2,000,000 ceiling limit.
Current liabilities include creditors of $450,000.
In regards to asset backing the subjects Director is noted to own the
premises located at the above listed trading address.
A trade survey on the subject traced the following accounts:
1. (Carton Solutions)
Nominated supplier is yet to respond to correspondence despite chasing.
2. (03 9314 4422) Nominated
supplier failed to respond to correspondence despite chasing.
3. (Auschem) Nominated
supplier declined to provide a reference owing to company policy.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.84 |
|
|
1 |
Rs.101.04 |
|
Euro |
1 |
Rs.73.05 |
|
AUD |
1 |
Rs.48.85 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
HEE |
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Report Prepared by
: |
TPT |
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 |
-- |
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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.