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Report No. : |
328394 |
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Report Date : |
27.06.2015 |
IDENTIFICATION DETAILS
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Name : |
MAX SPICES PTY LTD |
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Registered Office : |
5 Thorne Avenue Pendle, Hill NSW, 2145 |
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Country : |
Australia |
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Year of Establishment : |
2005 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Subject is engaged in import and distribution of spices and food
ingredients |
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No. of Employee : |
4 |
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 : |
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 – March 31, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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
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 Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the US, and Vietnam.
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Source
: CIA |
MAX SPICES PTY LTD
Summary
Panel
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Established |
2005 |
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Incorporated |
2010 |
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Line of Business
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Import and distribution of food products |
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Status |
Trading |
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Chief Executive
Officer |
KAREKAR, SANJEEV PRAMOD |
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Adverse Listings |
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Details
pertaining to the subject’s financial and trading position were unable to be
obtained for the current enquiry.
In view of the
above the subject has been assigned with a rating of ‘NA 5’.
Company Type Australian
Proprietary Company
Status Registered
Incorporation Date 25 May
2010
Incorporation State NSW
Registered Office 5 THORNE
AVENUE PENDLE
HILL NSW, 2145
Total: 1
Director Name KAREKAR, SANJEEV PRAMOD
Appointment Date 25 May 2010
Date of Birth 21 Mar 1974
Place of Birth MUMBAI CHINA
Gender MALE
Veda File Number 316613693
Resident Overseas N
Address 2 BETH WAY, GLENWOOD NSW
2768
Document Number 1E6524096
Total: 150 Amount: $150,000
Class ORDINARY (ONE THOUSAND
DOLLAR SHARES) [ORD]
Number of Shares Issued 150
Paid Capital $150,000.00
Total Amount Due and Payable $0.00
Document Number 1E6524096
Shareholder Name BALAN MAHENDRAN,
SURESHKUMAR
Address 5 THORNE AVENUE PENDLE
HILL NSW, 2145
Class ORD
Number Held 105
Beneficially Held Y
Fully Paid Y
Jointly Held N
Document Number 1E6524096
Shareholder Name KAREKAR, SANJEEV PRAMOD
Address 2 BETH WAY GLENWOOD NSW,
2768
Class ORD
Number Held 45
Beneficially Held Y
Fully Paid Y
Jointly Held N
Document Number 1E6524096
Total: 1 Amount: $5,088
Action Date 02 Dec 2013
Amount $5,088.00
Creditor WORKERS COMPENSATION
NOMINAL I
Plaint Number 00321261/13/METN
Court Type Local Court
Role in Court Action Principal
Co-Borrower -
Status Outstanding
Status Date -
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 Unit 1, 150 Bungaree Rd
PENDLE
HILL, NSW 2145
TELEPHONE (612) 9604 9600
FACSIMILE (612) 9604 3673
MOBILE 0400 218 499
BANK ANZ
BANKING GROUP
EMPLOYEES 4
The subject was
incorporated in New South Wales on 25 May 2010 under the current style.
The subject was
formed to acquire the assets and operations of an existing business that were
established in 2005.
The subject operates in the import and distribution of spices and food
ingredients.
Activities are
conducted from leased premises located at the above listed trading address.
A search of of on
19 June 2015 traced the following litigation listed against the subject at that
date.
Court Actions Total: 1 Amount: $5,088
Action Date 02 Dec 2013
Amount $5,088.00
Creditor WORKERS COMPENSATION
NOMINAL I
Plaint Number 00321261/13/METN
Court Type Local Court
Role in Court Action Principal
Co-Borrower -
Status Outstanding
Status 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 General Manager Suresh, he
advised that the subject has been trading profitably, however declined to
release any detailed financial information for the current enquiry.
Subsequently
information in this regard was unable to be obtained.
It was advised
that the subject maintains no overdraft facilities or further external
borrowings as all operations are funded through the internal cashflows of the
company
A trade survey
on the subject traced the following accounts:
1. (Nimco Foods) Nominated supplier failed
to respond to correspondence despite chasing.
2. (Simplot) Nominated supplier declined
to provide a reference owing to company policy.
3. (Manildra) Nominated supplier failed to
respond to correspondence despite chasing.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.60 |
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UK Pound |
1 |
Rs.100.09 |
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Euro |
1 |
Rs.71.23 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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Report Prepared by
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ASH |
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 |
-- |
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.