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Report No. : |
355868 |
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Report Date : |
21.12.2015 |
IDENTIFICATION DETAILS
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Name : |
TEMPO HOLIDAYS P/L |
|
|
|
|
Registered Office : |
'Cox
& Kings House', 72 Market Street South Melbourne Vic, 3205 |
|
|
|
|
Country : |
Australia |
|
|
|
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Date of Incorporation : |
1989 |
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|
|
|
Legal Form : |
Australian Proprietary Company |
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|
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Line of Business : |
Subject operates as specialist travel wholesalers with
travel arrangements in more than 40 countries. |
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|
|
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No. of Employee : |
65 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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|
|
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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) |
|
Australia |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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 |
TEMPO HOLIDAYS P/L
ACN 007331213
ABN 51007331213
Summary
Panel
|
||
|
Established |
1990 |
|
|
Incorporated |
1989 |
|
|
Line of Business |
Wholesale Travel agents |
|
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Status |
Trading |
|
For the
last financial year ended 30 June 2015 the subject traded profitably and
recorded revenue of $54,000,000.
On a
projected basis a similar result is forecast for the current financial year
ending 30 June 2016.
The
subject maintains no overdraft facilities as all operations are funded through
the internal cashflows of the company.
Company Type Australian
Proprietary Company
Status
Registered
Incorporation
Date 09 Nov 1989
Incorporation
State VIC
Registered
Office 'COX &
KINGS HOUSE', 72
MARKET STREET SOUTH
MELBOURNE VIC, 3205
Current
Directors Total: 2
Director
Name TULLY, PATRICK HENRY
Appointment
Date 07 Nov 2008
Date
of Birth 25 Apr 1967
Place
of Birth NEW DEHLI INDIA
Gender
MALE
Resident
Overseas N
Address
33 PRINCE EDWARD RD,
SEAFORTH
NSW 2092
Document
Number 7E2582495
Director
Name KERKAR, AJAY AJIT
Appointment
Date 07 Nov 2008
Date
of Birth 19 Jun 1963
Place
of Birth MUMBAI INDIA
Gender
UNKNOWN
Resident
Overseas Y
Address
-
Document
Number 1E4929904
Current
Secretaries Total: 1
Secretary
Name METCALFE, ANDREW WILLIAM
Appointment
Date 06 Dec 2013
Date
of Birth 03 Jun 1964
Place
of Birth DENILIQUIN NSW
Address
39 HAMILTON STREET SEDDON
VIC,
3011
Document
Number 028820238
Company
Shares Total: 117000 Amount: $117,000
Class
ORDINARY SHARES [ORD1]
Number
of Shares Issued 117000
Paid
Capital $117,000.00
Total
Amount Due and Payable $0.00
Document
Number 1E4929954
Current
Shareholders
Shareholder
Name PROMETHEON AUSTRALIA PTYLTD
ACN
608577126
ABN
94608577126
Address
LEVEL 1, 72 MARKET STREET
SOUTH
MELBOURNE VIC, 3205
Class
ORD1
Number
Held 117000
Beneficially
Held Y
Fully
Paid Y
Jointly Held N
Document Number
2E2856664
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 72 MARKET STREET
SOUTH
MELBOURNE VIC, 3205
TELEPHONE (613) 9646 0277
FACSIMILE (613) 9699 3190
EMAIL accounts@tempoholidays.com.au
WEBSITE www.tempoholidays.com.au
CONTROLLED
ENTITY TEMPO HOLIDAYS NZ LTD
HOLDING
ENTITY PROMETHEON
AUSTRALI P/L
ULTOMATE
HOLDING
ENTITY COX AND
KINGS LTD – India
BANK NATIONAL
AUSTRALIA BANK
EMPLOYEES 65
The subject was
incorporated in Victoria on 9 November 1989 as Telrock Pty Ltd changing name to
Ya’lla Tours Pty Ltd changing name to Accent Holidays P/L before adopting the
current style on331 October 2001.
The subject started
in 1990 with just three destinations. Under the name Ya’lla Tours.
In 1991 the Product
range expands to include Spain, Portugal and Morocco.
In 1993 Alitalia
becomes Ya’lla’s first partner airline. The company purchases SM Tours, a
Middle East wholesaler.
In 1994 further
expansion of product range includes the first Italy brochure. Ya’lla opens an
office in Sydney.
In 2001 Ya’lla
changes its name to Tempo Holidays. Continuing to expand, the company moves to
larger premises in Port Melbourne and is a finalist in the National Tourism
Industry Awards (NTIA) for Best Wholesaler.
2002 Tempo purchases
a state-of-the-art, web-enabled CRS and begins implementation. The company is
an NTIA finalist again.
2003 Tempo becomes
the first Australian wholesaler to deploy a fully integrated online booking
engine. The company wins the National Tourism Industry Award for Best International
Wholesaler.
2004 Tempo wins the
Best International Wholesaler award for the second year running.
2007 Tempo achieves
a record year of turnover as more than 40,000 passengers travel on its tours.
The company continues its international expansion with a new sales and
marketing operation in London.
2008 Tempo opens an
office in Jordan and becomes a part of the Cox & Kings group. It is
selected as a finalist in Port Phillip Council’s Small Business Awards.
2009 The company launches a new reservation system and online booking engine called Temptation, significantly improving communication and booking confirmations with both customers and suppliers.
The subject operates as specialist travel wholesalers with travel arrangements in more than 40 countries across Europe, the Middle East, Asia, North Africa and Latin America.
The subject specialises in fully independent holidays and organised group tours with a large selection of hotels, tours and sightseeing options.
The global group has opened highly successful offshore offices in Britain, New Zealand and the Middle East, and is committed to further international expansion.
The subject is a licensed travel agent, and an approved participant of the AFTA Travel Accreditation Scheme (ATAS). The Company is also a member of the Council of Australian Tour Operators (CATO), the Eastern Mediterranean Tourism Association and the Council of Australian Tour Operators. It is an affiliate member of the International Air Transport Association.
The subject is part of a family of trusted travel brands, including Bentours, MasterChef Travel, Explore Worldwide & Cox and Kings.
The group enjoys strategic alliances with some of the travel industry’s leading organisations, including Singapore Airlines, Emirates, Etihad Airways and LAN Airlines.Activities are conducted from premises located at the above listed trading address.
A search of of on 18 December 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 the subject’s financial controller, he advised that
for the last financial year ended 30 June 2015 the subject traded profitably
and recorded revenue of $54,000,000.
On a projected basis
a similar result is forecast for the current financial year ending 30 June
2016.
The subject maintains
no overdraft facilities as all operations are funded through the internal
cashflows of the company.
Further financial
details were unable to be obtained for the current enquiry.
Details
pertaining to the subject’s suppliers are yet to be provided.
Trade
payment from further sources in the past 4 months have traced the following
data for the subject.
Total Owing: $1,676
Total Past Due: $0
Average Late Payment Days: 7
-
Within terms: $1,676
-
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.66.42 |
|
|
1 |
Rs.99.17 |
|
Euro |
1 |
Rs.72.14 |
|
AUD |
1 |
Rs.47.49 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
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Report Prepared
by : |
ANK |
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.