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Report No. : |
344915 |
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Report Date : |
17.10.2015 |
IDENTIFICATION DETAILS
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Name : |
ELK ACCESSORIES PTY. LTD. |
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Registered Office : |
Unit 6, 240 Sydney Road, Coburg, VIC 3058 |
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Country : |
Australia |
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Year of Establishment : |
2004 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Subject is retailer of fashion accessories and apparel. |
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No. of Employee : |
45 (Estimated) |
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, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the US, and Vietnam.
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Source
: CIA |
ELK ACCESSORIES
PTY. LTD.
IDENTIFICATION
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Remarks: |
The Subject's registered address is: Unit 6, 240 Sydney
Road Coburg, VIC 3058 Australia |
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EXECUTIVE SUMMARY
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Date established: |
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REGISTRY DATA
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Key Facts |
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Date established: |
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Date registered: |
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Registration no: |
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Registry auth.: |
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LEGAL FILINGS
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Bankruptcy filings: |
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Court judgements: |
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Tax liens: |
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Other: |
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MANAGEMENT & STAFF
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No of employees |
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BOARD OF DIRECTORS / OTHER
APPOINTMENTS
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Rosanna, VIC
3084 Australia |
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Birth Place:
Melbourne, Victoria |
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SHARE CAPITAL
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Composition |
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Authorised: |
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Issued: |
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Paid-up: |
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Shareholders/Owners
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Rosanna, VIC
3084 Australia |
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CORPORATE AFFILIATIONS
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The Trustee for THE GROVER TRUST (ABN: 81 815 705
159) should be considered an affiliate of the Subject. |
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FINANCIAL ACCOUNTS
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Required to
file: |
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Source: |
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Private Companies in Australia are not
required to file accounts unless classified as "Large", which at the
moment means that two out of the following three conditions are met: - The company
has a sales turnover of over AUD 25,000,000; - The company
has total assets of over AUD 12,500,000; - The company
employs 50 people or more. The Subject does
not meet the criteria of being a large proprietary company. The respondents
contacted at the company declined to disclose any details on grounds of
confidentiality. |
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OPERATIONS & HISTORY
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Full
description: |
The Subject is engaged in design,
distribution and retail of contemporary designed clothing, handbags,
jewellery, wallets, shoes, homewares and leather goods. |
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Products/services: |
Tops Skirts Dresses Pants &
Jeans Jackets Knitwear Somn Sleepwear Scarves, Gloves
& Hats JEWELLERY: Necklaces Bracelets &
Bangles Rings Brooches Earrings Silver Jewellery FOOTWEAR: Boots Derbys Sandals Slippers Sneakers Flats ACCESSORIES: Wallets &
Accessories Toiletry Bags Document Holders Leather Bags Silver Cufflinks Somn Sleepwear |
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Export: |
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Elk kicking goals
overseas but determined to keep grounded in Preston March 6, 2015 AS PRESTON
fashion accessory company Elk continues to expand into overseas markets, its
owners say the company’s feet are firmly planted in Preston. The husband and
wife team behind Elk, Marnie Goding and Adam Koniaras, said the company was
firmly rooted in Preston, despite their success in other countries. “We’re Preston
diehards,” Ms Goding said. “We’ve made a
very considered decision to stay in Preston, and we’ve got a very loyal
clientele here who have grown up with us really. “It suits our
needs, we’re close to the city and our staff — for the most part — are north
of the river.” Elk, founded in
2004, now has more than 1000 stockists worldwide of its accessories, apparel
and leather goods, and continues to work towards expanding in the American
market and launching into the UK market in coming years. “We’re focusing
on America at the moment, it’s been a few years since launching there in 2012
and we’re doing really well, but we’re still so small compared to the size of
the market,” Ms Goding said. While America
was the current focus, Ms Goding said the company anticipated launching into
the UK market next year. Elk will this
week launch Equinox, its winter 2015 collection. |
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PROPERTY & ASSETS
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The Subject principally operates from premises
located at the heading address, consisting of a warehouse and administrative
offices. |
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PAYMENTS
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Local: |
Credits 14-30 days |
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Imports: |
Credits 30 days net |
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Local: |
Credits 14-30 days |
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Exports: |
Credits 30 days net |
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As trade references were not supplied, the
Subject's payment track record history CANNOT BE ACCURATELY DETERMINED. |
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INVESTIGATIVE
NOTES
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Sources: |
Interviews and material provided by the
Subject Official and local business sources |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.64.97 |
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1 |
Rs.100.55 |
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Euro |
1 |
Rs.73.99 |
INFORMATION DETAILS
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Analysis Done by
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HEE |
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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.