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Report No. : |
313218 |
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Report Date : |
21.03.2015 |
IDENTIFICATION DETAILS
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Name : |
HALI RETAIL STORES PTY LTD |
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Registered Office : |
18/499 St Kilda
Road, Melbourne, Victoria 3004
Australia |
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Country : |
South Africa |
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Date of Incorporation : |
19.01.1995 |
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Com. Reg. No.: |
067 883 185 |
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Legal Form : |
Australian
Proprietary Company |
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Line of Business : |
Engaged in the import and distribution of Contemporary and Traditional Handmade Rugs as well as Handmade carpets |
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No of Employees : |
18 |
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
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 |
HALI RETAIL STORES
PTY LTD
ACN: 067 883 185
ABN: 88 359 474 651 (THE HALI RETAIL STORES UNIT TRUST)
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Established |
1995 |
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Incorporated |
1995 |
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Line of Business |
Engaged in the import
and distribution of Contemporary and Traditional
Handmade Rugs as well as Handmade carpets |
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Chief Executive Officer |
SWART, IAN CONRAD |
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Adverse Listings |
Nil |
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The subject was formed to restructure and existing partnership.
The subject has been trading profitably and is experiencing some growth in operations.
Enquiries in trade quarters revealed satisfaction from one supplier contacted.
Company Type Australian Proprietary
Company
Incorporation
Date: 19 Jan 1995
Incorporation
State: Victoria
Registered Office 18/499 ST KILDA
Road
MELBOURNE,
Victoria 3004 Australia
Number of Shares
Issued: 3
Paid Capital: 3
Shareholders IAN CONRAD SWART
Number
of Shares: 2
GINA SONIA SWART
Number of Shares: 1
Directors SWART, GINA SONIA
Appointment Date: 19 Jan 1995
Date of Birth: 02 Nov 1960
Gender: Female
Address: 5 GRONG GRONG Court TOORAK, Victoria 3142 Australia
Resident Overseas: No
SWART, IAN CONRAD
Appointment Date: 19 Jan 1995
Date of Birth: 07 Oct 1949
Gender: Male
Address: 5 GRONG GRONG Court TOORAK, Victoria 3142 Australia
Resident Overseas: No
Secretary IAN CONRAD SWART
Appointment
Date: 19 Jan 1995
SECURITY INTERESTS 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.
RICHMOND,
VIC 3121
TELEPHONE (613) 9509 7200
WEBSITE www.hali.com.au
BRANCHES The subject maintains a total of 6 stores across Australia.
BANK NATIONAL
AUSTRALIA BANK
EMPLOYEES 18
The subject was incorporated in Victoria on 19 January 1995 to commence operations under the current style.
The subject was formed to incorporate an existing partnership founded by
the Directors.
Engaged in the import
and distribution of Contemporary and Traditional
Handmade Rugs as well as Handmade carpets
in Australia.
All rugs
are woven on traditional looms using hand spun wool. The collection includes
contemporary Himalayan, modern Handtufted, contemporary Shalimar rugs, Moghul, Aubusson, Amritsar, Art Nouveau, William Morris and Frank Lloyd
Wright inspired carpets.
The subject
is also the principal Rug suppliers to Robertsons Furniture & Design, David
Jones, Domo Collections and Berkowitz Furniture.
Activities are conducted from leased premises located at the above listed trading address.
Product details :
· Handmade rugs
· Handmade carpets
A search of we 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 the subject’s financial controller, Margarita, she advised that the subject has been trading profitably however declined to release any financial details for the current enquiry.
On a projected basis the subject expects to record a growth in operations for the current financial year ending 30 June 2015.
For the year ended 30 June 2008 the subject recorded revenue of $6,000,000.
Enquiries in trade quarters revealed satisfaction from one supplier contacted.
The subject is noted to operate in its capacity on behalf of the Hali Retail Stores Unit Trust. Unsecured creditors are placed at maximum risk when dealing with a trustee company.
The subject imports most products. A trade survey on the subject traced the following accounts:
(Proactive Customs) Purchases average $10,000 to $15,000 per month on 21 day terms. Payment is met in 21 days and the account is considered satisfactory, having been known over 5 years.
(TNT) Nominated supplier declined to provide a reference owing to company policy.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.49 |
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UK Pound |
1 |
Rs.92.26 |
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Euro |
1 |
Rs.66.80 |
INFORMATION DETAILS
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Analysis Done by
: |
SUB |
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Report Prepared
by : |
MNL |
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.