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Report No. : |
349025 |
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Report Date : |
16.11.2015 |
IDENTIFICATION DETAILS
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Name : |
SPAGRICON
AUSTRALIA P/L |
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Registered Office : |
'3965' Level 39, 385 Bourke Street Melbourne Vic, 3000 |
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Country : |
Australia |
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Date of Incorporation : |
01.11.2013 |
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Legal Form : |
Private company |
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Line of Business : |
Subject operates in the export and distribution of agro commodities including Cotton, Pulses, Whole & Ground Spices, Grains. |
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No. of Employee : |
1 (active Director) |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the US, and Vietnam.
|
Source
: CIA |
SPAGRICON AUSTRALIA P/L
ACN 166572247
ABN 90166572247
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Established |
2013 |
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Incorporated |
2013 |
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Line of Business |
Commodities trading |
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Status |
Trading |
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Chief Executive Officer |
Jiger Kotecha |
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Adverse Listings |
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For the 7 months
ended 30 June 2015 the subject traded profitably and recorded revenue of
$700,000.
On a projected
basis the subject expects to record revenue of $2,500,000 for the current
financial year ending 30 June 2016. For the current financial year to date
revenue has totalled $1,500,000.
The subject
carries no stock on hand.
Company Type Australian
Proprietary Company
Status Registered
Incorporation Date 01 Nov 2013
Incorporation State NSW
Registered Office '3965' LEVEL 39, 385 BOURKE
STREET MELBOURNE VIC, 3000
Current Directors Total: 1
Director Name KOTECHA, JIGER
Appointment Date 01 Nov 2013
Date of Birth 12 May 1985
Place of Birth VALSAD INDIA
Gender MALE
Resident Overseas N
Address 1310, 8 WATERVIEW WK,
DOCKLANDS VIC 3008
Document Number 7E6003961
Company Shares Total: 50000 Amount: $50,000
Class ORDINARY [ORD]
Number of Shares Issued 50000
Paid Capital $50,000.00
Total Amount Due and Payable $0.00
Document Number 7E7114134
Current Shareholders
Shareholder Name KOTECHA, JIGER
Address '52', 313 HARRIS STREET
PYRMONT NSW, 2009
Class ORD
Number Held 50000
Beneficially Held Y
Fully Paid Y
Jointly Held N
Document Number
7E7114134
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 LEVEL 39, 385 BOURKE
STREET MELBOURNE VIC, 3000
TELEPHONE (613) 9994 6944
MOBILE 0468 835 135
EMAIL info@spagricon.com.au
WEBSITE www.spagricon.com.au
ASSOCIATED
ENTITIES SPEGRICON - INDIA
BANK COMMONWEALTH
BANK OF AUSTRLAIA
EMPLOYEES 1 (active Director)
The subject was
incorporated in New South Wales on 1 November 2013 under the current style.
Operations
commenced as a new venture in December 2014.
The subject operates in the export and
distribution of agro commodities including Cotton, Pulses, Whole & Ground Spices, Grains, from
India, China, North America and Australia.
Activities are
conducted from premises located at the above listed trading address.
A search of of on 6 November 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 Director Jiger Kotecha he advised that for the
7 months ended 30 June 2015 the subject traded profitably and recorded revenue
of $700,000.
On a projected
basis the subject expects to record revenue of $2,500,000 for the current financial
year ending 30 June 2016. For the current financial year to date revenue has
totalled $1,500,000.
The subject
carries no stock on hand. Current assets include receivables of $100,000.
The subject
maintains access to financing facilities with its bankers which are used to
assist in funding working capital requirements.
Current
liabilities include creditors of $100,000.
Further
financial details were unable to be obtained for the current enquiry.
Enquiries in
trade quarters revealed satisfaction from one supplier contacted in dealing
with the subject on a credit basis.
A trade survey
on the subject traced the following accounts:
1.
(Associated
Grain) Purchases average $200,000 per month on 14 day terms. Payment is met in 14
days and the account is considered satisfactory having been known since April
2015.
2.
(Qld
Cotton) Nominated supplier declined to provide a reference owing to company
policy.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.14 |
|
|
1 |
Rs.100.55 |
|
Euro |
1 |
Rs.71.26 |
INFORMATION DETAILS
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Analysis Done by
: |
HNA |
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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 |
-- |
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.