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Report No. : |
344858 |
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Report Date : |
12.10.2015 |
IDENTIFICATION DETAILS
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Name : |
NATIONAL RESOURCES PTY LTD |
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Registered Office : |
Unit 2, 4
Gateway Dr, Carrum Downs, VIC 3201 |
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Country : |
Australia |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
10.11.1989 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Subject is engaged in import and distribution of a range of commercial
and industrial products including rolled aluminium, light gauge aluminium
products, label films and flexible packaging, packaging raw materials,
pharmaceutical packaging foils and films and pvc resins, hoses and medical
tubing. |
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No. of Employee : |
7 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 250270.9 |
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Status : |
Satisfactory |
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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
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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, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the US, and Vietnam.
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Source
: CIA |
NATIONAL RESOURCES
PTY LTD
ACN: 007 331 606
ABN: 40 007 331
606
Summary
Panel
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Established |
27 years |
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Incorporated |
1989 |
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Line of Business |
Import and distribution of commercial and industrial products |
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Status |
Trading |
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Chief Executive Officer |
LEON EDMUND COX |
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Adverse Listings |
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As at 31 December 2014 |
As at 31 December 2013 |
Change (%) |
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Revenue |
$28,234,824.00 |
$26,295,702.00 |
7.37% |
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Profit b/tax |
$634,018.00 |
$105,980.00 |
498.24% |
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Profit a/tax |
$438,798.00 |
$64,528.00 |
580.01% |
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Net Profit Margin |
1.55% |
0.25% |
1.31% |
During fiscal 2014, the subject recorded a deficiency in Net Cashflows
from operating activities totalling $53,554.
As at 31 December 2014 the subject recorded Working Capital of $5,005,418
and a current ratio of 1.51 to 1 indicating satisfactory liquidity levels.
Net Assets totalled $5,176,061 as at 31 December 2014.
Company Type Australian
Proprietary Company
Incorporation
State: VIC
Incorporation
Date: 10 NOV 1989
Registered
Office
UNIT 2, 4
Gateway Dr
CARRUM DOWNS,
VIC 3201
Total: 1
LEON EDMUND COX
– Appointed: 18 DEC 1989
464 BENTONS Road
MOOROODUC, Victoria 3933
DOB: 04 NOV 1953
Total: 1
LEON EDMUND COX
– DOB: 18 DEC 1989
Total: 1
ORD ORDINARY:
10000 – Amount paid: $100
Total: 2
ORD 5250 –
NATRES INVESTMENTS P/L
ORD 2850 – JALLA
P/L
ORD 1900 -
STEVEN COX P/L
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
2, 4 Gateway Drive
CARRUM
DOWNS, VIC 3201
TELEPHONE (613) 9708 2595
FACSIMILE (613) 9708 2640
EMAIL natres@nationalresources.com.au
WEBSITE www.nationalresources.com.au
HOLDING ENTITY NATRES
INVESTMENTS P/L
BANK NATIONAL
AUSTRALIA BANK
EMPLOYEES 7
The subject was
incorporated in Victoria on 10 November 1989 as Wolowa P/L before adopting the
current style on 11 January 1990.
Operations have been
established for 27 years.
The subject operates in the import and distribution of a range of
commercial and industrial products including rolled aluminium, light gauge
aluminium products, label films and flexible packaging, packaging raw
materials, pharmaceutical packaging foils and films and pvc resins, hoses and
medical tubing.
Activities are
conducted from premises located at the above listed trading address.
A search of of
on 12 October 2015 failed to trace any litigation listed against the subject at
that date.
For the financial year ended 31 December 2014 the subject recorded
revenue of $28,234,824, which resulted in an operating profit before tax of
$634,018 and an operating profit after tax of $438,798 representing a Net
Profit Margin of 1.55%.
Below is a summary of the subject’s income results for the past two
financial years.
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National Resources Pty Ltd |
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As at 31 December 2014 |
As at 31 December 2013 |
Change (%) |
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Revenue |
$28,234,824.00 |
$26,295,702.00 |
7.37% |
|
Profit b/tax |
$634,018.00 |
$105,980.00 |
498.24% |
|
Profit a/tax |
$438,798.00 |
$64,528.00 |
580.01% |
|
Net Profit Margin |
1.55% |
0.25% |
1.31% |
During fiscal 2014, the subject recorded a deficiency in Net Cashflows
from operating activities totalling $53,554.
As at 31 December 2014 the subject recorded total current assets of
$14,778,479. They included cash of $444,061, receivables of $9,105,336 and
inventories of $5,112,724.
Current liabilities at the same date totalled $9,773,061 and included
payables of $4,151,393 and interest bearing liabilities of $5,449,229.
As at 31 December 2014 the subject recorded Working Capital of $5,005,418
and a current ratio of 1.51 to 1 indicating satisfactory liquidity levels.
Net Assets totalled $5,176,061 as at 31 December 2014. At this date, the
subject further recorded a Debt to Equity ratio of 1.9 to 1.
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National Resources Pty Ltd |
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As at 31 December 2014 |
As at 31 December 2013 |
Change (%) |
|
Revenue |
$28,234,824.00 |
$26,295,702.00 |
7.37% |
|
Profit b/tax |
$634,018.00 |
$105,980.00 |
498.24% |
|
Profit a/tax |
$438,798.00 |
$64,528.00 |
580.01% |
|
Net Profit Margin |
1.55% |
0.25% |
1.31% |
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Current Assets |
$14,778,479.00 |
$13,542,501.00 |
9.13% |
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Non Current Assets |
$406,866.00 |
$640,290.00 |
-36.46% |
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Total Assets |
$15,185,345.00 |
$14,182,791.00 |
7.07% |
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Current Liabilities |
$9,773,061.00 |
$9,079,423.00 |
7.64% |
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Non Current Liabilities |
$236,223.00 |
$281,105.00 |
-15.97% |
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Total Liabilities |
$10,009,284.00 |
$9,360,528.00 |
6.93% |
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Net Assets |
$5,176,061.00 |
$4,822,263.00 |
7.34% |
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Working Capital |
$5,005,418.00 |
$4,463,078.00 |
12.15% |
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Current Ratio |
1.51 |
1.49 |
1.38% |
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Debt to Equity |
1.93 |
1.94 |
-0.38% |
During the current investigation, contact with the subject’s principals 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.64.78 |
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|
1 |
Rs.99.54 |
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Euro |
1 |
Rs.73.08 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
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 |
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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.