MIRA
INFORM REPORT
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Report No. : |
307215 |
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Report Date : |
13.02.2015 |
IDENTIFICATION DETAILS
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Name : |
RIP CURL PROPRIETARY LIMITED |
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Registered Office : |
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Country : |
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Financials (as on) : |
30-06-2014 |
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Date of Incorporation : |
28.07.1970 |
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Com. Reg. No.: |
004838064 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Holding Company of a group which Manufactures of Clothing and
Accessories for Surfers. |
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No. of Employees : |
1,367 (Group) |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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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 – December 31, 2014
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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
The Australian economy has
experienced continuous growth and features low unemployment, contained
inflation, very low public debt, and a strong and stable financial system. By
2012, Australia had experienced more than 20 years of continued economic growth,
averaging 3.5% a year. Demand for resources and energy from Asia and especially
China has grown rapidly, creating a channel for resources investments and
growth in commodity exports. The high Australian dollar has hurt the
manufacturing sector, while 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, stemming
from rising 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 has bilateral free trade agreements (FTAs) with Chile,
Malaysia, New Zealand, Singapore, Thailand, and the US, has a regional FTA with
ASEAN and New Zealand, is negotiating agreements with China, India, Indonesia,
Japan, and the Republic of Korea, as well as with its Pacific neighbors and the
Gulf Cooperation Council countries, and is also working on the Trans-Pacific
Partnership Agreement with Brunei Darussalam, Canada, Chile, Malaysia, Mexico,
New Zealand, Peru, Singapore, the US, and Vietnam.
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Source
: CIA |
IDENTIFICATION
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Subject name: |
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Address: |
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Town: |
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State/province: |
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Zip/postal code: |
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Country: |
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Telephone: |
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Fax: |
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Website: |
EXECUTIVE SUMMARY
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Legal form: |
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Main activities: |
Holding company of
a group which manufactures clothing and accessories for surfers. |
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Employees: |
REGISTRY DATA
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Date registered: |
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Legal form: |
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Registration no: |
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Registry auth. |
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Tax number: |
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Registry status: |
LEGAL FILINGS
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Court judgements: |
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Tax liens: |
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Other: |
MANAGEMENT & STAFF
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Name: |
Michael Philip Daly |
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Job
title: |
Director and Company Secretary |
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No of employees |
BOARD OF DIRECTORS/ OTHER APPOINTMENTS
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Torquay, VIC
3228 Australia |
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Birth Place: Swan Hill, Victoria |
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Name: |
Michael Philip Daly |
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Board function: |
Director and Company Secretary |
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Date appointed: |
01/03/2005 |
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Address: |
Unit 2 22 Ewing Blyth Drive Barwon Heads, VIC 3227 Australia |
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Biography: |
Born: 07/05/1972 Birth Place: Melbourne, Victoria |
SHARE
CAPITAL
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Authorised: |
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Number/type: |
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Issued: |
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Paid-up: |
Shareholders/Owners
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Torquay, VIC
3228 Australia |
CORPORATE AFFILIATIONS
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Torquay, VIC
3228 Australia |
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A list of major affiliated
companies is attached to this report. |
FINANCIAL ACCOUNTS
OPERATIONS & HISTORY
PROPERTY
& ASSETS
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The Subject principally operates from premises located
at the heading address, consisting of administrative offices. |
PAYMENTS
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As trade references
were not supplied, the Subject's payment track record history CANNOT BE
ACCURATELY DETERMINED, but payments are believed to be PROMPT. |
INVESTIGATIVE
NOTES
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Interviews and material provided by the Subject Other official and
local business sources |
ATTACHMENTS
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Group consolidated financial statements List of
affiliated companies |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.43 |
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1 |
Rs.95.02 |
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Euro |
1 |
Rs.70.63 |
INFORMATION DETAILS
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Analysis Done by
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RAS |
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Report Prepared
by : |
NIT |
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.