|
Report No. : |
353368 |
|
Report Date : |
12.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
LITTLEMAN TYRE TRADING |
|
|
|
|
Registered Office : |
14 Applebox Cct , Point Cook VIC 3030 |
|
|
|
|
Country : |
Australia
|
|
|
|
|
Date of Incorporation : |
16.01.2012 |
|
|
|
|
Legal Form : |
Proprietary Concern |
|
|
|
|
Line of Business : |
The subject operates in the import and distribution of Longmarch tyres
for commercial vehicle trucks and buses. |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow |
|
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 |
REGISTERED NAME LITTLEMAN TYRE TRADING
ABN: 74 758 247 643
|
Summary Panel |
||
|
Established |
2009 |
|
|
Registered |
2012 |
|
|
Line of Business
|
Distribution of tyres and export of scrap tyres |
|
|
Status |
Trading |
|
|
Proprietor |
Dennis Tan |
|
For the last financial year ended 30 June 2015 the subject recorded a
Loss on revenue of less than $50,000.
On a projected basis the subject expects to record revenue of $100,000
to $150,000 for the current financial year ending 30 June 2016.
The subject maintains overdraft facilities or external borrowings.
Status: Registered
– Proprietary Concern
Registration date: 16/01/2012
Renewal date: 16/01/2018
Address for service of documents: 14 Applebox Cct Point Cook VIC 3030
Principal place of business: Point Cook VIC 3030
Holder(s) details: Holder Name: CHIN HENG DENNIS TAN
Holder Type:
Proprietary Concern
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 14 Applebox Cct
Point Cook VIC 3030
TELEPHONE 0474
149 188
EMAIL dennistan@lmtyre.com.au
WEBSITE www.lmtyre.com.au
BANK Not
determined
EMPLOYEES 1
(proprietor)
The subject was registered in Victoria on16 January 2012.
The subject was formed to restructure the assets and operations of an
existing business that was founded in 2009.
The subject operates in the import and distribution of Longmarch tyres
for commercial vehicle trucks and buses.
The subject also operates in the export of scrap tyres and casings.
Activities are conducted from premises located at the above listed
trading address.
A search of 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 Proprietor Dennis Tan he
advised that for the last financial year ended 30 June 2015 the subject
recorded a Loss on revenue of less than $50,000.
The loss for the last financial year was attributable to low commodities
prices and higher competition as a result of a decline of the mining industry
in Australia.
ON a projected basis the subject expects to record revenue of $100,000
to $150,000 for the current financial year ending 30 June 2016.
The subject maintains overdraft facilities or external borrowings.
Further financial details were unable to be obtained for the current
enquiry.
Details pertaining to the subjects suppliers were not provided for the
current enquiry.
A trade survey on the subject was subsequently unable to be conducted.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.79 |
|
|
1 |
Rs.101.10 |
|
Euro |
1 |
Rs.73.10 |
|
AUD |
1 |
Rs.48.27 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
TPT |
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.