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Report No. : |
325675 |
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Report Date : |
08.06.2015 |
IDENTIFICATION DETAILS
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Name : |
USHA IMPORTS PTY LTD |
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Registered Office : |
38 Whittington Street Enfield, South Australia 5085 |
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Country : |
Australia |
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Date of Incorporation : |
11.11.2008 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
The subject operates in the import and distribution of spices, frozen goods, handicrafts and clothing. |
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No. of Employees : |
5 |
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 : |
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 – 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.
|
Source
: CIA |
REGISTERED NAME USHA IMPORTS PTY LTD
ADDRESS 38 Whittington St
ENFIELD, SA 5085
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Established |
2005 |
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Incorporated |
2008 |
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Line of Business |
Import and wholesale of food products. |
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Status |
Trading |
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Adverse Listings |
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For the last financial year ended 30 June 2014, the subject traded profitably
and recorded revenue of $2,500,000.
A similar result is forecast for the current financial year ending 30
June 2015.
In regards to asset backing the subject is noted to own the warehouse
located at the above listed trading address.
Enquiries in trade quarters revealed satisfaction from suppliers
contacted in dealing with the subject on a credit basis.
Company Type Australian
Proprietary Company
Incorporation
Date: 11 Nov 2008
Incorporation
State: South Australia
Registered Office 38
WHITTINGTON Street
ENFIELD,
South Australia 5085 Australia
Number
of Shares Issued: 120
Paid
Capital: 120
Shareholders GAURAV
ARORA
Number of Shares: 60
SUNAYANA ARORA
Number of Shares: 60
Directors ARORA,
SUNAYANA
Appointment Date: 11 Nov 2008
Date of Birth: 13 Dec 1981
Gender: Female
Address: 38 WHITTINGTON Street ENFIELD, South Australia 5085
Australia
Resident
Overseas: No
Secretary SUNAYANA
ARORA
Appointment
Date: 11 Nov 2008
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).
TRADING ADDRESS 39
Playfair Cres
PLAYFAIR,
SA 5108
TELEPHONE (618) 8285 3336
FACSIMILE (618)
8285 3337
WEBSITE www.ushaimports.com.au
EMAIL sales@ushaimports.com.au
BANK ANZ
BANKING GROUP
The subject was incorporated in South Australia on 11 November 2008
under the current style.
The subject was formed to incorporate an existing business that was
established in December 2005.
The subject operates in the import and distribution of spices, frozen goods, handicrafts and clothing.
The subject are a distributor of Indian/South east Asian food staples like wheat flour, basmati rice, salt, traditional cooking flours, spices, ready mixes, pickles, snacks, sweets, ready to eat curries, Indian utensils, ayurvedic items, religious/worship goods and frozen vegetables, roti parathas, naans, snacks and ready meals
Activities are conducted from premises located at the above listed trading address.
A search of of
on 3 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 General Manager Gaurav Arora, he advised that for the last financial year ended 30 June 2014, the subject traded profitably and recorded revenue of $2,500,000.
A similar result is forecast for the current financial year ending 30 June 2015.
For the year ended 30 June 2011 the subject recorded revenue of $1,500,000.
For the year ended 30 June 2009 the subject recorded revenue of $1,400,000.
For the year ended 30 June 2007 the subject recorded revenue of $700,000.
The subject maintains an overdraft facility with its bankers. This facility is not presently being used.
Further financial details pertaining to the subject were not released for the current enquiry.
In regards to asset backing the subject is noted to own the warehouse located at the above listed trading address.
Enquiries in trade quarters revealed satisfaction from suppliers
contacted in dealing with the subject on a credit basis.
1. A trade survey on the subject traced the following accounts:
(Pasram Foods) Purchases average $5,000 to $10,000 per month on 30 day terms. Payment is met in 30 days and the account is considered satisfactory, having been known over 2 years.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.90 |
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|
1 |
Rs.97.97 |
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Euro |
1 |
Rs.71.82 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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Report Prepared
by : |
VNT |
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.