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Report No. : |
321173 |
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Report Date : |
12.05.2015 |
IDENTIFICATION DETAILS
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Name : |
PLATINUM BLASTING SERVICES PTY LTD |
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Registered Office : |
500 Queen Street Brisbane QLD, 4000 |
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Country : |
Australia |
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Date of Incorporation : |
10.06.2014 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Subject operates
in the supply of explosive and processing services to the mining industry |
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No. of Employee : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
-- |
NB |
New Business |
-- |
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Status : |
New business |
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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
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Australia |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
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 |
PLATINUM BLASTING
SERVICES PTY LTD
|
Established |
2014 |
|
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Incorporated |
2014 |
|
|
Line of Business |
Explosives and processing services to the mining industry. |
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Status |
Trading |
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Adverse Listings |
|
|
Details pertaining to the subject’s financial and trading position were unable to be obtained for the current enquiry.
The subject was set up as a joint venture between Smatchem Technologies in India and local Australian partners in September 2014.
Over the next two years, the subject plans to make an investment of around $28 million, through a mix of debt and equity.
Please note, should
contact with the CFO be established and further details forthcoming this report
will be updated and forwarded to your office.
Company Type Australian
Proprietary Company
Status Registered
Incorporation Date 10 Jun 2014
Incorporation State QLD
Registered Office 500 QUEEN STREET BRISBANE
QLD, 4000
Current Directors Total: 6
Director Name CHATTERJEE, TAPAN KUMAR
Appointment Date 11 Oct 2014
Date of Birth 01 Jan 1951
Place of Birth BURDWAN INDIA
Gender UNKNOWN
Resident Overseas Y
Address -
Document Number 7E6451560
Director Name SETH, PRAKASH WAZIRCHAND
Appointment Date 05 Sep 2014
Date of Birth 25 Sep 1947
Place of Birth MUMBAI INDIA
Gender MALE
Resident Overseas N
Address 10, 124 COWLES RD, MOSMAN
NSW 2088
Document Number 7E6356514
Director Name GALE, CLIFFORD MARTIN
Appointment Date 05 Sep 2014
Date of Birth 21 Jan 1964
Place of Birth RAMSGATE UNITED KINGDOM
Gender MALE
Resident Overseas N
Address 29 BARCOORAH ST, WESTLAKE
QLD 4074
Document Number 029061261
Director Name LINDGREN, CARL ANDERS
Appointment Date 10 Jun 2014
Date of Birth 09 Oct 1960
Place of Birth SOLNA SWEDEN
Gender UNKNOWN
Resident Overseas Y
Address -
Document Number 027304591
Director Name PATIL, SOMNATH
Appointment Date 10 Jun 2014
Date of Birth 03 Nov 1956
Place of Birth MUMBAI INDIA
Gender UNKNOWN
Resident Overseas Y
Address -
Document Number 027304591
Director Name MEHTA, SHAILESH CHIMANLAL
Appointment Date 10 Jun 2014
Date of Birth 11 Apr 1961
Place of Birth MUMBAI INDIA
Gender UNKNOWN
Resident Overseas Y
Address -
Document Number 027304591
Current Secretaries Total: 1
Secretary Name ZAMPECH, FIONA JEAN
Appointment Date 05 Sep 2014
Date of Birth 20 Oct 1979
Place of Birth BRISBANE QLD
Address 78 BELCLARE STREET THE GAP
QLD, 4061
Document Number 029061261
Company Shares Total: 88786 Amount: $6,862,802
Class CONVERTIBLE REDEEMABLE PREFERENCE SHARES [CRPS]
Number of Shares Issued 20160
Paid Capital $201.60
Total Amount Due and Payable $0.00
Class ORDINARY SHARES [ORD]
Number of Shares Issued 68626
Paid Capital $6,862,600.00
Total Amount Due and Payable $0.00
Current Shareholders
Shareholder Name CAJORY PTY LTD
ACN 166250746
Address 32 TURBOT STREET BRISBANE
QLD, 4000
Class CRPS
Number Held 4032
Beneficially Held N
Fully Paid Y
Jointly Held N
Document Number 7E6579669
Shareholder Name SOCHAR PTY LTD
ACN 166250755
Address 32 TURBOT STREET BRISBANE
QLD, 4000
Class CRPS
Number Held 4032
Beneficially Held N
Fully Paid Y
Jointly Held N
Document Number 7E6579669
Shareholder Name XEEN MACI PTY LTD
ACN 166250728
Address 32 TURBOT STREET BRISBANE
QLD, 4000
Class CRPS
Number Held 4032
Beneficially Held N
Fully Paid Y
Jointly Held N
Document Number 7E6579669
Shareholder Name SKALP PTY LTD
ACN 166250808
Address 32 TURBOT STREET BRISBANE
QLD, 4000
Class CRPS
Number Held 4032
Beneficially Held N
Fully Paid Y
Jointly Held N
Document Number 7E6579669
Shareholder Name FREELANCE INTERNATIONAL PTY LTD
ACN 166250791
Address 32 TURBOT STREET BRISBANE
QLD, 4000
Class CRPS
Number Held 4032
Beneficially Held N
Fully Paid Y
Jointly Held N
Document Number 7E6579669
Shareholder Name PHOENIX BLASTING SERVICES PTY. LTD.
ACN 159504104
ABN 87159504104
Address '- 10' UNIT A, 112-124 COWLES
ROAD MOSMAN NSW, 2088
Class ORD
Number Held 12552
Beneficially Held Y
Fully Paid Y
Jointly Held N
Document Number 7E6740436
Shareholder Name XEEN MACI PTY LTD
ACN 166250728
Number Held 335
Beneficially Held N
Fully Paid Y
Address 32 TURBOT STREET BRISBANE
QLD, 4000
Class ORD
Jointly Held N
Document Number 7E6740436
Shareholder Name CAJORY PTY LTD
ACN 166250746
Address 32 TURBOT STREET BRISBANE
QLD, 4000
Class ORD
Number Held 335
Beneficially Held N
Fully Paid Y
Jointly Held N
Document Number 7E6740436
Shareholder Name SOCHAR PTY LTD
ACN 166250755
Address 32 TURBOT STREET BRISBANE
QLD, 4000
Class ORD
Number Held 335
Beneficially Held N
Fully Paid Y
Jointly Held N
Document Number 7E6740436
Shareholder Name FREELANCE INTERNATIONAL PTY LTD
ACN 166250791
Address 32 TURBOT STREET BRISBANE
QLD, 4000
Class ORD
Number Held 335
Beneficially Held N
Fully Paid Y
Jointly Held N
Document Number 7E6740436
Shareholder Name SKALP PTY LTD
ACN 166250808
Address 32 TURBOT STREET BRISBANE
QLD, 4000
Class ORD
Number Held 335
Beneficially Held N
Fully Paid Y
Jointly Held N
Document Number 7E6740436
Shareholder Name SMARTCHEN TECHNOLOGIES LIMITED
Address DEEPAK COMPLEX OPP GOLF
COURSE SHASTRING, 1006 AR
YERWADA PUNE
MAHARASHTRA 41 INDIA
Class ORD
Number Held 54399
Beneficially Held N
Fully Paid Y
Jointly Held N
Document Number 7E6740436
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 500 Queen St
BRISBANE,
QLD 4000
TELEPHONE 1300 65 67 60
EMAIL enquiry@platinumblasting.com
WEBSITE www.platinumblasting.com
HOLDING ENTITY SMARTCHEM TECHNOLOGIES LIMITED – India
BANK Not
determined
EMPLOYEES Not determined
The subject was
incorporated in Queensland on 10 June 2014 before adopting the current style on
5 September 2014.
The subject was set
up as a joint venture between Smatchem Technologies in India and local
Australian partners in September 2014.
The subject
operates in the supply of explosive and processing services to the mining
industry.
The subject offers
a full suite of services covering all
customer requirements from explosives supply and logistics support, through to
full design, down the hole loading and shot firing services
Activities are
conducted from premises located at the above listed trading address.
A search of of on 6
May 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 Manager Peter Howe, he warded all queries pertaining
to the subject to CFO Fiona. Contact with Fiona is yet to be established for
the current enquiry. Upon calling it has been advised that she is not in the
office. Messages have been left, however a reply is yet to be received.
As a result,
details pertaining to the subject’s financial and trading position were unable
to be obtained for the current enquiry.
The subject was set
up as a joint venture between Smatchem Technologies in India and local
Australian partners in September 2014.
Over the next two
years, the subject plans to make an investment of around $28 million, through a
mix of debt and equity.
Please note, should
contact with the CFO be established and further details forthcoming this report
will be updated and forwarded to your office.
During the current
investigation, contact with the subjects CFO was unable to be established.
Subsequently
details pertaining to the company’s suppliers were unable to be obtained and a
trade survey could not be conducted.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.85 |
|
|
1 |
Rs.98.47 |
|
Euro |
1 |
Rs.71.51 |
INFORMATION DETAILS
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Analysis Done by
: |
SUB |
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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 |
|
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 |
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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 |
|
<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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.