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MIRA INFORM REPORT
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Report No. : |
502211 |
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Report Date : |
13.04.2018 |
IDENTIFICATION DETAILS
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Name : |
CUSTOM FLUIDPOWER
PL |
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Registered Office : |
14 Gross Street, Carrington NSW, 2294 |
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Country : |
Australia |
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Financials (as on) : |
30.06.2017 |
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Date of Incorporation : |
15.12.1999 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
·
The subject operates as one of the largest hydraulic, pneumatic,
electronic, and instrumentation solution providers in Australia. They supply
a wide range of products to suit all fluid power requirements. ·
Subject offers
hydraulic, pneumatic, filtration and lubrication product sales along with
complete system design, installation and commissioning, and service and
repairs. |
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No. of Employees : |
159 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January
2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Good |
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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
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Country Name |
Previous
Rating (30.09.2017) |
Current Rating (31.12.2017) |
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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 Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 2018 facing a range of growth constraints, principally driven by the
sharp fall in global prices of key export commodities. Demand for resources and
energy from Asia and especially China has stalled and sharp drops in current
prices have 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 benefited from a dramatic surge in its terms of trade in
recent years, although this trend has reversed 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 WTO, APEC, the G20, and other trade forums.
Australia’s free trade agreement (FTA) with China entered into force in 2015,
adding to existing FTAs with the Republic of Korea, Japan, 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 10 ASEAN countries and China, Japan, Korea, New
Zealand and India.
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Source
: CIA |
CORPORATE
REPORT
NAME GIVEN SUN HYDRAULIC
CATRIDGES AUSTRALIA
SPECIAL NOTE A search of failed to trace any registered entity under
the given style.
Further investigations revealed that the
correct entity is Custom Fluidpower P/L which trades as Hydraulic cartridges
Australia.
REGISTERED NAME CUSTOM FLUIDPOWER PL
ACN 090926659
ABN 61090926659
Summary
Panel
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Incorporated |
1999 |
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Line of Business |
DISTRIBUTION OF HYDRAULIC PORDUCTS |
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Status |
Trading |
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EXECUTIVE
SUMMARY
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Custom Fluidpower P/L |
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As at 30 June 2017 |
As at 30 June 2016 |
Change (%) |
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Sales |
$54,754,251.00 |
$51,272,753.00 |
6.79% |
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Profit b/tax |
$3,151,003.00 |
$12,200.00 |
25727.89% |
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Profit a/tax |
$3,151,003.00 |
$12,200.00 |
25727.89% |
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Net Profit Margin |
5.75% |
0.02% |
5.73% |
During fiscal 2017, the subject recorded Net Cashflows from operating
activities totalling $3,163,161.
As at 30 June 2017 the subject recorded Working Capital of $12,889,428 and
a current ratio of 2.61 to 1 indicating sound liquidity levels.
Net Assets totalled $20,064,481 as at 30 June 2017. After deducting
intangibles of $555,060 this results in Net Worth of $19,509,421.
CORPORATE
SEARCH
Company Type Australian Proprietary Company
Status Registered
Incorporation Date 15 Dec 1999
Incorporation State NSW
Registered Office 14 Gross Street
Carrington NSW, 2294
Current Directors Total: 3
Director Name MCCARTHY, PHILLIP JAMES
Appointment Date 25 Jul 2003
Date of Birth 27 Jul 1947
Place of Birth THE ENTRANCE NSW
Gender MALE
Resident Overseas N
Address 1, 6 BENELONG CRS, BELLEVUE
HILL NSW 2023
Director Name RADALJ, BRIAN
Appointment Date 15 Dec 1999
Date of Birth 19 Nov 1952
Place of Birth MIDLAND WA
Gender MALE
Resident Overseas N
Address 50 JARRAH CL, HAY WA 6333
Director Name DE IULIIS, GUISEPPE NUNZIO
Appointment Date 15 Dec 1999
Date of Birth 25 Mar 1949
Place of Birth GAMBERAIE ITALY
Gender MALE
Resident Overseas N
Address 0 LOVEDALE RD, KEINBAH NSW2320
Current Secretaries Total: 1
Secretary Name EBRILL, DAVID LINDSAY
Appointment Date 26 May 2009
Date of Birth 14 Jan 1958
Place of Birth MEREWETHER NSW
Address 198A SCENIC DRIVE
MEREWETHER HEIGHTS NSW, 2291
Current Other Officers Total: 1
Officer Role Appointed Auditor
Officer Name MCEWAN, IAN EDWARD
Appointment Date 31 May 2001
Date of Birth -
Address SUITE 1, 91 FREDERICK STREET
MEREWETHER NSW, 2291
Company Shares Total: 1826000 Amount:
$1,917,002
Class E SHARES [E]
Number of Shares Issued 26000
Paid Capital $117,002.00
Total Amount Due and Payable $0.00
Class ORDINARY SHARES [ORD]
Number of Shares Issued 1800000
Paid Capital $1,800,000.00
Total Amount Due and Payable $0.00
Current Shareholders
Shareholder Name GLEESON, SHANE
Address BULL CREEK ROAD
ROSSMOYNE WA, 6148
Class E
Number Held 2000
Beneficially Held Y
Fully Paid Y
Jointly Held N
Shareholder Name NOLAN, ROBERT
Address 22 MAHOGANY DRIVE ALBANY
CREEK QLD, 4035
Class E
Number Held 12000
Beneficially Held Y
Fully Paid Y
Jointly Held N
Shareholder Name MCCARTHY BELLEVUE PTYLIMITED
ACN 140003050
Address UNIT 1, 6 BENELONG CRESCENT
BELLEVUE HILL NSW, 2023
Class E
Number Held 12000
Beneficially Held N
Fully Paid Y
Jointly Held N
Shareholder Name RADALJ, BRIAN
Address 4 GODBOLD CLOSE SHELLEY
WA, 6148
Class ORD
Number Held 2
Beneficially Held Y
Fully Paid Y
Jointly Held N
Shareholder Name DE IULIIS, GUISEPPE NUNZIO
Address LOVEDALE ROAD KEINBAH NSW, 2320
Class ORD
Number Held 4
Beneficially Held Y
Fully Paid Y
Jointly Held N
Shareholder Name RADALJ, BRIAN
Address 4 GODBOLD CLOSE SHELLEY
WA, 6148
Class ORD
Number Held 449998
Beneficially Held N
Fully Paid Y
Jointly Held Y
Shareholder Name RADALJ, LINLEY
Address 4 GODBOLD CLOSE SHELLEY
WA, 6148
Class ORD
Number Held 449998
Beneficially Held N
Fully Paid Y
Jointly Held Y
Shareholder Name DE IULIIS INVESTMENTS PTYLTD
ACN 104092784
Number Held 1259996
Beneficially Held N
Fully Paid Y
Address 14 GROSS STREET
CARRINGTON NSW, 2294
Class ORD
Shareholder Name D. & L. SYSTEMS PTY. LIMITED
ACN 003488104
ABN 26003488104
Address 198A SCENIC DRIVE
MEREWETHER HEIGHTS NSW, 2291
Class ORD
Number Held 45000
Beneficially Held N
Fully Paid Y
Jointly Held N
Shareholder Name EBRILL, DAVID LINDSAY
Address 198A SCENIC DRIVE
MEREWETHER HEIGHTS NSW, 2291
Class ORD
Number Held 45000
Beneficially Held Y
Fully Paid Y
Jointly Held N
SECURITY
INTERESTS
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).
BUSINESS STRUCTURE
TRADING ADDRESS 14 GROSS STREET
CARRINGTON NSW, 2294
POSTAL ADDRESS PO BOX 230 CARRINGTON NSW 2294
TELEPHONE (612)
4953 5777
WEBSITE https://sunsales.com.au
BRANCHES BRISBANE,
QLD
GLADSTONE, QLD
MACKAY, QLD
MELBBOURNE VIC
NEWCASTLE, NSW
PERTH WA
PORT HEDLAND, SA
SINGLETON NSW
BANK NATIONAL
AUSTRALIA BANK
EMPLOYEES 159
BACKGROUND
The subject was incorporated in New South Wales on 15 December 1999
before adopting the current style on 7 March 2000.
OPERATIONS
The subject operates as one of the largest hydraulic, pneumatic, electronic, and instrumentation
solution providers in Australia. They supply a wide range of products to suit
all fluid power requirements.
Custom Fluidpower offers hydraulic,
pneumatic, filtration and lubrication product sales along with complete system
design, installation and commissioning, and service and repairs.
The subject are wholly Australian owned and
provides services Australia wide with branches in Brisbane QLD, Gladstone QLD,
Mackay QLD, Melbourne VIC, Perth WA, Port Hedland WA, Newcastle NSW and
Singleton NSW.
Activities are conducted from premises located at the above listed
trading address.
ADVERSE
A search of records of on 6 April 2018 failed to trace any litigation
listed against the subject at that date.
FINANCES
Below is a summary of the subject’s income results for the past two financial
years.
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Custom Fluidpower P/L |
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As at 30 June 2017 |
As at 30 June 2016 |
Change (%) |
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Sales |
$54,754,251.00 |
$51,272,753.00 |
6.79% |
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Profit b/tax |
$3,151,003.00 |
$12,200.00 |
25727.89% |
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Profit a/tax |
$3,151,003.00 |
$12,200.00 |
25727.89% |
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Net Profit Margin |
5.75% |
0.02% |
5.73% |
During fiscal 2017, the subject recorded Net Cashflows from operating
activities totalling $3,163,161.
As at 30 June 2017 the subject recorded total current assets of $20,913,274.
They included cash of $2,787,827, receivables of $10,633,857 and inventories of
$6,985,482.
Current liabilities at the same date totalled $8,023,846 and included
payables of $6,081,212 and provisions of $1,550,591.
As at 30 June 2017 the subject recorded Working Capital of $12,889,428
and a current ratio of 2.61 to 1 indicating sound liquidity levels.
Net Assets totalled $20,064,481 as at 30 June 2017. At this date, the
subject further recorded a Debt to Equity ratio of 0.45 to 1 showing low levels
of gearing. After deducting intangibles of $555,060 this results in Net Worth
of $19,509,421.
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Custom Fluidpower P/L |
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As at 30 June 2017 |
As at 30 June 2016 |
Change (%) |
|
Sales |
$54,754,251.00 |
$51,272,753.00 |
6.79% |
|
Profit b/tax |
$3,151,003.00 |
$12,200.00 |
25727.89% |
|
Profit a/tax |
$3,151,003.00 |
$12,200.00 |
25727.89% |
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Net Profit Margin |
5.75% |
0.02% |
5.73% |
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Current Assets |
$20,913,274.00 |
$17,990,422.00 |
16.25% |
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Non Current Assets |
$8,103,846.00 |
$8,338,297.00 |
-2.81% |
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Total Assets |
$29,017,120.00 |
$26,328,719.00 |
10.21% |
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Current Liabilities |
$8,023,846.00 |
$6,434,898.00 |
24.69% |
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Non Current Liabilities |
$928,793.00 |
$2,356,263.00 |
-60.58% |
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Total Liabilities |
$8,952,639.00 |
$8,791,161.00 |
1.84% |
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Net Assets |
$20,064,481.00 |
$17,537,558.00 |
14.41% |
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Working Capital |
$12,889,428.00 |
$11,555,524.00 |
11.54% |
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Current Ratio |
2.61 |
2.80 |
-6.77% |
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Debt to Equity |
0.45 |
0.50 |
-10.99% |
TRADE
SURVEY
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 |
INR 65.35 |
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1 |
INR 92.70 |
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Euro |
1 |
INR 80.80 |
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AUD |
1 |
INR 50.73 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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PRI |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.