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Report No. : |
356514 |
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Report Date : |
23.12.2015 |
IDENTIFICATION DETAILS
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Name : |
EMBLEM FOODS AUSTRALIA P/L |
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Registered Office : |
243 Peel Street North Melbourne Vic, 3051 |
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Country : |
Australia |
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Date of Incorporation : |
09.04.2014 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Distribution of seafood |
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Employees: |
5 |
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 |
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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) |
|
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.
|
Source
: CIA |
REGISTERED NAME EMBLEM FOODS
AUSTRALIA P/L
T/as
Frank Mason and Associates
ACN 169020124
ABN 78827152412
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Established |
1987 |
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Incorporated |
2014 |
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Line of Business |
Distribution of seafood |
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Status |
Trading |
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Chief Executive Officer |
Frank Mason |
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Adverse Listings |
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For the last financial year ended 30 June 2015 the subject recorded
revenue $10,000,000 and traded profitably.
The subject maintains no overdraft facilities as all operations are able
to be funded through the internal cashflows of the company.
The subject is noted to operate in its capacity on behalf of the Emblem
Food Australia Unit trust. Unsecured creditors are placed at maximum risk when
dealing with a trustee company.
Company Type Australian Proprietary Company
Status Registered
Incorporation Date 09 Apr 2014
Incorporation State VIC
Registered Office 243 PEEL STREET NORTH
MELBOURNE VIC,
3051
Start Date 09 Apr
2014
Current Directors Total: 3
Director Name PATTISON, ANTHONY JOSEPH
Appointment Date 09 Apr 2014
Date of Birth 30 Mar 1948
Place of Birth MELBOURNE VIC
Gender MALE
Resident Overseas N
Address 243 PEEL ST, NORTH
MELBOURNE VIC 3051
Document Number 2E0421821
Director Name MASON, FRANCIS ROY
Appointment Date 09 Apr 2014
Date of Birth 10 Feb 1947
Place of Birth MELBOURNE VIC
Gender MALE
Resident Overseas N
Address 243 PEEL ST, NORTH
MELBOURNE VIC 3051
Document Number 2E0421821
Director Name LONG, GERARD JOSEPH
Appointment Date 09 Apr 2014
Date of Birth 25 Jun 1961
Place of Birth MELBOURNE VIC
Gender MALE
Resident Overseas N
Address 243 PEEL ST, NORTH
MELBOURNE VIC 3051
Document Number 2E0421821
Current Secretaries Total: 3
Secretary Name LONG, GERARD JOSEPH
Appointment Date 09 Apr 2014
Date of Birth 25 Jun 1961
Place of Birth MELBOURNE VIC
Address 243 PEEL STREET NORTH
MELBOURNE VIC, 3051
Document Number 2E0421821
Secretary Name MASON, FRANCIS ROY
Appointment Date 09 Apr 2014
Date of Birth 10 Feb 1947
Place of Birth MELBOURNE VIC
Address 243 PEEL STREET NORTH
MELBOURNE VIC, 3051
Document Number 2E0421821
Secretary Name PATTISON, ANTHONY JOSEPH
Appointment Date 09 Apr 2014
Date of Birth 30 Mar 1948
Place of Birth MELBOURNE VIC
Address 243 PEEL STREET NORTH
MELBOURNE VIC, 3051
Document Number 2E0421821
Company Shares Total: 100 Amount: $100
Class ORDINARY [ORD]
Number of Shares Issued 100
Paid Capital $100.00
Total Amount Due and Payable $0.00
Document Number 2E0421821
Current Shareholders
Shareholder Name G.J. & B.M. LONG PTY LTD
ACN 169005823
Address 1 KELVIN GROVE THORNBURY
VIC, 3071
Class ORD
Number Held 50
Beneficially Held N
Fully Paid Y
Jointly Held N
Document Number 2E0421821
Shareholder Name JAMES JOSEPH PTY LTD
ACN 085603452
ABN 15085603452
Address 243 PEEL STREET NORTH
MELBOURNE VIC, 3051
Class ORD
Number Held 25
Beneficially Held N
Fully Paid Y
Jointly Held N
Document Number 2E0421821
Shareholder Name EMBLEM FOODS PTY. LTD.
ACN 007095874
Number Held 25
Beneficially Held N
ABN 16007095874
Address 243 PEEL STREET NORTH
MELBOURNE VIC, 3051
Class ORD
Fully Paid Y
Jointly Held N
Document Number 2E0421821
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 243 Peel St
NORTH
MELBOURNE, VIC 3051
POSTAL ADDRESS PO Box 66
NORTH
MELBOURNE, VIC 3051
TELEPHONE (613)
9328 2211
FACSIMILE (613)
9328 3350
WEBSITE www.frankmason.com.au
TRADING NAME FRANK MADDEN
AND ASSOCIATES
BANK WESTPAC
BANKING CORPORATION
EMPLOYEES 5
The subject was incorporated in Victoria on 9 April 2014 under the
current style.
The subject was formed to take over and restructure the assets and
operations of an existing business that was founded in 1987.
The subject operates as seafood traders involved in the import and
export of a range of seafood products.
Activities are conducted from premises located at the above listed
trading address.
A search of of on 23 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 subjects Director Frank
Mason he advised that for the last financial year ended 30 June 2015 the
subject recorded revenue $10,000,000 and traded profitably.
For the year ended 30 June 2013 the subject recorded revenue of
$10,000,000.This compares to revenue of just over $5,000,000 for the previous
corresponding year ended 30 June 2012.
Current assets include stock on hand of $250,000 to $500,000.
The subject maintains no overdraft facilities as all operations are able
to be funded through the internal cashflows of the company.
Fixed assets are nominal and comprise mainly of furniture, fixtures and
fittings.
The subject is noted to operate in its capacity on behalf of the Emblem
Food Australia Unit trust. Unsecured creditors are placed at maximum risk when
dealing with a trustee company.
A trade survey on the subject traced the following accounts:
1. (Katos and Sons)
Nominated supplier failed to respond to correspondence despite chasing.
2. (Mitchelson Fisheries)
Nominated supplier failed to respond to correspondence despite chasing.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.20 |
|
UK Pound |
1 |
Rs.98.29 |
|
Euro |
1 |
Rs.72.41 |
|
AUD |
1 |
Rs.47.83 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
SANS |
RATING EXPLANATIONS
|
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 |
|
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 |
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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 |
|
<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.