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Report No. : |
346733 |
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Report Date : |
29.10.2015 |
IDENTIFICATION DETAILS
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Name : |
SHANN AUSTRALIA PTY. LIMITED |
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Formerly Known As : |
TANNER WOODS PTY LTD |
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Registered Office : |
2 Unit 1, 73 Gower St, Preston, VIC 3072 |
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Country : |
Australia |
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Date of Incorporation : |
19.11.1987 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Subject operates in the distribution of fashion accessories,
furnishings and canvas print fabrics. |
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No. of Employee : |
105 |
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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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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 |
SHANN AUSTRALIA PTY. LIMITED
ACN: 006 884 457
ABN: 22 593 246 084 (Shann Accessories Unit Trust)
Summary
Panel
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Established |
1950’s |
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Incorporated |
1987 |
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Line of Business |
Distribution of fashion accessories |
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Status |
Trading |
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Chief Executive Officer |
O’SHANNASSY, Martin James |
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Adverse Listings |
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Current
financial details could not be obtained for the current enquiry.
For the financial
year ended 31 December 2013 the subject traded profitably and recorded revenue
of $32,000,000.
The subject was
expecting to trade profitably and record revenue of $34,500,000 for the last
financial year ending 31 December 2014.
Enquiries in trade
quarters revealed satisfaction from suppliers in dealing with the subject on a
credit basis.
Company Type Australian Proprietary
Company
INCORPORATED 19
November 1987
REGISTERED ADDRESS 2Unit
1, 73 Gower St
PRESTON,
VIC 3072
SHARECAPITAL $1000
SHARES ISSUED 10,000
Shareholder Name DANBRAE PTY. LTD.
ACN 006863118
Address LEVEL 10 KEATING & COMPANY
PTY LTD, 379 COLLINS STREET
MELBOURNE VIC, 3000
Class ORD
Number Held 660
Beneficially Held N
Fully Paid Y
Jointly Held N
Document Number 028870234
Shareholder Name O'SHANNASSY, CATHERINE
Address UNIT 3, 1A HUGHENDEN ROAD
ST KILDA EAST VIC, 3183
Class ORD
Number Held 200
Beneficially Held Y
Fully Paid Y
Jointly Held N
Document Number 028870234
Shareholder Name O'SHANNASSY, MARY
Address 27 RUSSELL STREET
CAMBERWELL VIC, 3124
Class ORD
Number Held 310
Beneficially Held Y
Fully Paid Y
Jointly Held N
Document Number 028870234
Shareholder Name O'SHANNASSY, MARY
Address 27 RUSSELL STREET
CAMBERWELL VIC, 3124
Class ORD
Number Held 800
Beneficially Held N
Fully Paid Y
Jointly Held N
Document Number 028870234
Shareholder Name O'SHANNASSY, MICHAEL
Address PO BOX 2064 NUKU'ALOFA
TONGA
Class ORD
Number Held 200
Beneficially Held Y
Fully Paid Y
Jointly Held N
Shareholder Name O'SHANNASSY, MALINDA Beneficially Held N
Address 38 KYARRA ROAD GLEN IRIS
VIC, 3146
Class ORD
Number Held 200
Fully Paid Y
Jointly Held N
Document Number 028870234
Shareholder Name P.J. & J.A. PTY. LTD.
ACN 006208699
Address 'MILLAR PARTNERS', 312
WAVERLEY ROAD MALVERN
EAST VIC, 3145
Class ORD
Number Held 2020
Beneficially Held N
Fully Paid Y
Jointly Held N
Document Number 028870234
Shareholder Name SEOSH PTY. LTD.
ACN 006208671
Address MARIN ACCOUNTANTS, 37 PARK
STREET SOUTH MELBOURNE
VIC, 3205
Class ORD
Number Held 2400
Beneficially Held N
Fully Paid Y
Jointly Held N
Document Number 028870234
Shareholder Name CALVEEN PTY. LTD.
ACN 006863145
Address MORRISH BUSINESS SERVICES
PTY LTD, 309 KOOYONG ROAD
ELSTERNWICK VIC, 3185
Class ORD
Number Held 1540
Beneficially Held N
Fully Paid Y
Jointly Held N
Document Number 028870234
Shareholder Name SHAKESPEARE ENTERPRISESPTY LTD
ACN 113685224
Address 35 SHAKESPEARE GROVE
HAWTHORN VIC, 3122
Class ORD
Number Held 770
Beneficially Held N
Fully Paid Y
Jointly Held N
Document Number 028870234
Shareholder Name SMYCO INVESTMENTS PTY LTD
ACN 086513288
ABN 49086513288
Address 55 COOKSON STREET
CAMBERWELL VIC, 3124
Class ORD
Number Held 200
Beneficially Held N
Fully Paid Y
Jointly Held N
Document Number 028870234
Shareholder Name TERMAR PTY. LTD.
ACN 062083292
Address UNIT 4905, 1 QUEENSBRIDGE
SQUARE SOUTHBANK VIC, 3006
Class ORD
Number Held 700
Beneficially Held N
Fully Paid Y
Jointly Held N
Document Number 2E0420279
DIRECTORS
O’SHANNASSY, Martin James
4905, 1 Queensbridge Sq
SOUTH MELBOURNE, VIC 3205
O’SHANNASSY, Philip John
2, 44 Oliver ST
RINGWOOD, VIC 3134
SEIVERS, Wayne
47, 400 Victoria Pde
EAST MELBOURNE, VIC 3002
MATTHERSON, Kevin John
267 High St
TEMPLESTOWE LOWER, VIC 3107
SECRETARY
O’SHANNASSY, Philip John
172 Berringa Rd
PARK ORCHARDS, VIC 3114
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
1, 17 Gower St
PRESTON,
VIC 3072
TELEPHONE (613) 8480 0800
FACSIMILE (613)
8480 0829
CONTROLLED ENTITY SHANN NZ LTD – New Zealand
WEBSITE www.shann.com.au
EMAIL accounts@shann.com.au
BRANCHES MINCHINBURY,
NSW 2770
WOODRIDGE,
QLD 4114
BURLEIGH,
QLD 4220
EDWARDSTOWN,
SA 5039
OSBORNE
PARK, WA
BANK BANK
OF MELBOURNE
EMPLOYEES 105
The subject was
incorporated in Victoria on 19 November 1987 as Tanner Woods Pty Ltd, adopting
the current style on 24 February 1988.
The subject has origins, which date back to
the 1950’s, with the late Frank O’Shannassy selling threads from the family
home.
In 1987 the O'Shannassy family and some of the key executives purchased
the company making it 100% Australian owned.
The subject operates in the distribution of fashion accessories,
furnishings and canvas print fabrics.
Products include industrial fabrics, digital printing supplies window
furnishings, marine, marine supplies, caravan supplies, bedding etc.
Activities are
conducted from premises located at the above listed trading address.
A search of of on 23 October 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 investigation contact with Financial Controller Natalie McLeod was
unable to be established. Despite messages being left, a reply is yet to be
received.
Further
investigations revealed that for the year ended 31 December 2013 the subject
traded profitably and recorded revenue of $32,000,000.
The subject was
expecting to trade profitably and record revenue of $34,500,000 for the last
financial year ended 31 December 2014.
For the year ended 31 December 2008, the subject traded profitably and
recorded revenue of $32.4 million. This compares to revenue of $27 million for
the previous corresponding year ended 31 December 2007.
Current assets
in November 2014 included stock on hand valued at $9,000,000 and receivables of
$6,000,000.
The subject
maintains access to financing facilities which are used to assist in funding
working capital requirements.
Current
liabilities in November 2014 included creditors of $4,000,000.
Enquiries in
trade quarters revealed satisfaction from suppliers in dealing with the subject
on a credit basis.
Trade payment from
further sources in the past 4 months have traced the following data for the
subject.
Total Owing: $1,889
Total Past Due: $0
Average Late Payment Days: 0
Within terms:
$1,889
1 – 30 days past
due: $0
31 – 60 days
past due: $0
61 – 90 days
past due: $0
91+ days: $0
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.04 |
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|
1 |
Rs.99.58 |
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Euro |
1 |
Rs.71.75 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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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.