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Report No. : |
325677 |
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Report Date : |
08.06.2015 |
IDENTIFICATION DETAILS
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Name : |
RAVI IMPORTS |
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Registered Office : |
7 Riverview Rd Essendon, Vic 3040 |
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Country : |
Australia |
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Date of Incorporation : |
08.06.1989 |
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Legal Form : |
Proprietorship |
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Line of Business : |
Subject operates in the import and distribution of food products. |
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No. of Employee : |
5 |
RATING & COMMENTS
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MIRAs 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 : |
Unknown |
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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 2014, Australia had experienced more than 20 years of continued economic growth, averaging more than 3% 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 |
RAVI IMPORTS
RN: 0914471S
ABN: 11 695 908 054
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Established |
1989 |
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Incorporated |
1989 |
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Line of Business |
Distribution of food products |
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Chief Executive
Officer |
ARORA, Aaron Lindsay |
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Adverse Listings |
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Details pertaining to the subjects financial position were unable to be obtained for the current enquiry.
Enquiries in trade quarters revealed satisfaction from suppliers contacted.
In regards to asset backing the Arora family is noted to own the above listed trading premises.
REGISTERED 8 June 1989
REGISTERED ADDRESS 7 Riverview Rd
ESSENDON, VIC 3040
PROPRIETOR ARORA, Aaron Lindsay
TRADING ADDRESS 27 Halley Cres
SOMERTON, VIC 3062
POSTAL ADDRESS PO Box 508
ESSENDEN, VIC 3040
TELEPHONE (613) 9308 6014
WAREHOUSE SOMERTON, VIC
BANK ANZ BANKING GROUP
EMPLOYEES 5
The subject was registered in Victoria on 9 June 1989 to commence operations as a new venture.
In 2012 Proprietor Aaron Arora took over the subject from his father Inder Arora.
The subject operates in the import and distribution of food products.
Activities are conducted from premises located at the above listed trading address.
A search of of on 2 June 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 Proprietor Aaron Arora, he confirmed the subjects search and operational details however declined to release any detailed financial information for the current enquiry.
The subject has been trading profitably and has recorded a 15% annual growth in revenue and a 10% annual growth in profit in recent years.
The subject maintains access to trade financing and overdraft facilities which are used to assist in funding working capital requirements.
In regards to asset backing the Arora family is advised to own the premises located at the above listed trading address.
A trade survey on the subject traced the following accounts:
(All India Foods) Purchases are of an undisclosed amount on 30 day terms. Payment met to terms and the account is considered satisfaction having been known over 10 years.
(Hindustan Import) Nominated supplier failed to respond to correspondence despite chasing.
(Nimco Food) Nominated supplier failed to respond to correspondence despite chasing.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.89 |
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|
1 |
Rs.97.98 |
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Euro |
1 |
Rs.71.82 |
INFORMATION DETAILS
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Analysis Done by
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RAS |
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Report Prepared
by : |
ANK |
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 SCs
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.