MIRA INFORM REPORT

Report No. :	307815
Report Date :	26.02.2015

IDENTIFICATION DETAILS

Name :	C-COR BROADBAND AUSTRALIA PTY LTD
Registered Office :	2 Anzed Court, Mulgrave, Victoria, 3170
Country :	Australia
Year of Establishment :	1993
Com. Reg. No.:	101599848
Legal Form :	Australian Proprietary Company
Line of Business :	Subject is supplier of products and services to all major Australian Telcos and MSOs (Telstra, Optus, Foxtel, iiNet, TransACT) as well as majority of electrical wholesalers, including Middendorp, Lawrence & Hanson, AWM and others.
No. of Employee :	42

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 :	Unknown
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

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
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

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.

Source : CIA

IDENTIFICATION
Given
Subject name:	C COR BROADBAND AUSTRALIA PTY LIMITED
Address:	2 ANZED COURT MULGRAVE, VICTORIA AUSTRALIA 3170
Country:	Australia
Company name and address
Name:	C-COR BROADBAND AUSTRALIA PTY LTD
Address:	2 Anzed Court
Town:	Mulgrave
State/province:	Victoria
Zip/postal code:	3170
Country:	Australia
Telephone:	+61 (3) 85420600
Fax:	+61 (3) 85420629
Email:	sales@c-cor.com.au
Website:	www.c-cor.com.au
EXECUTIVE SUMMARY
Date established:	1993
Legal form:	Australian Proprietary Company
Share capital	100 ORD shares
Main activities:	Supplier of products and services to all major Australian Telcos and MSOs (Telstra, Optus, Foxtel, iiNet, TransACT) as well as majority of electrical wholesalers, including Middendorp, Lawrence & Hanson, AWM and others.
Employees:	42 (estimated)
REGISTRY DATA
Key Facts
Date established:	1993
Date registered:	26-08-2002
Legal form:	Australian Proprietary Company
Registration no:	ACN: 101599848
Registry auth.	Australian Securities and Investments Commission
Tax number:	ABN: 22101599848
Registry status:	Live/Active
LEGAL FILINGS
Bankruptcy filings:	None
Court judgements:	None
Tax liens:	None
Other:	None
MANAGEMENT & STAFF
Key Managers
Name:	John Michael Goddard
Job title:	Director
Name:	Keith Kwok Kay Siu
Job title:	Director and Company Secretary
Staff
No of employees	42 (estimated)
BOARD OF DIRECTORS / OTHER APPOINTMENTS
Appointments
Name:	John Michael Goddard
Board function:	Director
Date appointed:	17-09-2002
Address:	224 Murrumbeena Road Murrumbeena, Vic 3163 Australia
Biography:	Born: 17-10-1953 Birth Place: Melbourne, Vic
Name:	Keith Kwok Kay Siu
Board function:	Director
Date appointed:	03-05-2006
Address:	6 Honeypot Close Knoxfield, Vic 3180 Australia
Biography:	Born: 23-01-1970 Birth Place: Hong Kong
SHARE CAPITAL
Composition
Authorised:	AUD 100
Number/type:	100 ordinary shares
Share value:	AUD 1
Issued:	100 ordinary shares
Paid-up:	AUD 100
Shareholders/Owners
How Listed	Full List
Composition
Name:	LINDCON HOLDINGS PTY. LTD.
No. of shares:	55 ordinary shares
% of shares:	55%
Address:	Trustee of John Goodard Family Trust Unit 7, 265 Pakington Street Newtown, Vic 3220 Australia
Name:	C-CORNERSTONE PTY LTD
No. of shares:	45 ordinary shares
% of shares:	45%
Address:	6 Honeypot Close Knoxfield, Vic 3180 Australia
CORPORATE AFFILIATIONS
Structure
Name:	LINDCON HOLDINGS PTY. LTD.
Affiliation type:	Parent Company
Address:	Trustee of John Goodard Family Trust Unit 7, 265 Pakington Street Newtown, Vic 3220 Australia
Name:	C-CORNERSTONE PTY LTD
Affiliation type:	Shareholder
Address:	6 Honeypot Close Knoxfield, VIC 3180 Australia
FINANCIAL ACCOUNTS
Description
Required to file:	No
Source:	N/A
Comments	Private Companies in Australia are not required to file accounts unless classified as "Large", which at the moment means that two out of the following three conditions are met: - The company has a sales turnover of over AUD 25,000,000 - The company has total assets of over AUD 12,500,000 - The company employs 50 people or more. The Subject does not meet the criteria of being a large proprietary company.
OPERATIONS & HISTORY
Activities
Full description:	The Subject operates as supplier of products and services to all major Australian Telcos and MSOs (TELSTRA, OPTUS, FOXTEL, IINET, TRANSACT) as well as majority of electrical wholesalers, including MIDDENDORP, LAWRENCE & HANSON and AWM.
PROPERTY & ASSETS
Premises	The Subject principally operates from premises located at the heading address, consisting of administrative offices.
Branches	The Company also operates from branch offices in Karachi, Pakistan.
PAYMENTS
Debt Collections / Judgements	No negative information was found.
Payment Experience
Payment behaviour:	As trade references were not supplied, the Subject's payment track record history CANNOT BE ACCURATELY DETERMINED.
INVESTIGATIVE NOTES
Sources:		Interviews and material provided by the Subject Other official and local business sources

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.04
UK Pound	1	Rs.96.02
Euro	1	Rs.70.42

INFORMATION DETAILS

Analysis Done by :	DIV
Report Prepared by :	ASH

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%)

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