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MIRA INFORM REPORT
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Report No. : |
502003 |
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Report Date : |
25.04.2018 |
IDENTIFICATION DETAILS
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Name : |
SABINSA AUSTRALIA P/L |
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Registered Office : |
Level 8, 76-80 Clarence, Street Sydney Nsw, 2000 |
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Country : |
Australia |
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Date of Incorporation : |
07.10.2004 |
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Legal Form : |
Australian Proprietary
Company |
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Line of Business : |
The subject operates as an importer, supplier and marketer
of herbal extracts, cosmeceuticals, minerals, dietary supplements and
specialty fine chemicals for the nutritional, cosmetic, pharmaceutical and
food industries |
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No. of Employees : |
Not available |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
B |
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Credit Rating |
Explanation |
Rating Comments |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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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
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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 |
Company
NAME
SABINSA AUSTRALIA P/L
ACN
111273619
ABN
28111273619
Summary
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Established |
2004 |
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Incorporated |
2004 |
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Line of Business |
Importer, supplier
and marketer of herbal extracts, cosmeceuticals, minerals, dietary supplements
and specialty fine chemicals |
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Status |
Trading |
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Chief Executive Officer |
TILYARD, ERIC JOHN |
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Adverse Listings |
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EXECUTIVE
SUMMARY
Details
pertaining to the subject’s financial and trading position were unable to be
obtained for the current enquiry.
CORPORATE
SEARCH
Company Type Australian Proprietary Company
Status Registered
Incorporation Date 07
Oct 2004
Incorporation State NSW
Registered
Office
LEVEL 8, 76-80 CLARENCE
STREET SYDNEY NSW, 2000
Current Directors
Total: 3
Director Name TILYARD, ERIC JOHN
Appointment Date 01 Mar 2011
Date of Birth 18 May 1938
Place of Birth WELLINGTON NEW ZEALAND
Gender MALE
Resident Overseas N
Address 2, 183 BROUGHAM ST,
WOOLLOOMOOLOO NSW 2011
Director Name VENUGOPALAN, PARIYANGOTNEDUMPULLY
Appointment Date 07 Oct 2004
Date of Birth 15 Oct 1951
Place of Birth KERALA INDIA
Gender UNKNOWN
Resident Overseas Y
Director Name MUHAMMED, MAJEED
Appointment Date 07 Oct 2004
Date of Birth 25 Sep 1948
Place of Birth KERALA INDIA
Gender UNKNOWN
File Number -
Resident Overseas Y
Company Shares Total: 265700 Amount: $265,700
Class ORDINARY [ORD]
Number of Shares Issued 265700
Paid Capital $265,700.00
Total Amount Due and Payable $0.00
Current Shareholders
Shareholder Name SAMI LABS INDIA
Address 19/1 & 19/2 1 MAIN 2 PHASE
PEENYA INDUST RIAL AREA
BANGALORE 560 058 INDIA
Class ORD
Number Held 265700
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 suite 101, Level 1
100 William St
WOOLLOOMOOLOO NSW
2011
TELEPHONE (612) 9356 2211
FACSIMILE (612) 9356 2308
WEBSITE http://www.sabinsa.com.au
HOLDING ENTITY SAMI
LABS INDIA
BANK Not determined
EMPLOYEES Not determined
BACKGROUND
The subject was incorporated in New South Wales on 7 October 2004 under the current style as a new venture.
Group operations were founded in India in 1988 by Muhammed Majeed.
OPERATIONS
The subject operates as an importer, supplier and marketer of herbal extracts, cosmeceuticals, minerals, dietary supplements and specialty fine chemicals for the nutritional, cosmetic, pharmaceutical and food industries.
The subject purchases a majority of its product from its holding entity in India.
The group manufactures and markets phytonutrients and standardized herbal extracts, specialty fine chemicals, and organic intermediates used in the nutritional, pharmaceutical and food industries. Today, Sabinsa manufactures over 100 such plant-derived products.
The group also provides custom manufacturing from lab scale to pilot / semi-commercial scale, and process development. The group has a research and development facility near Princeton, NJ and three manufacturing facilities in and around Bangalore, India
ADVERSE
A search of of on 17 April 2018 failed to trace any litigation listed against the subject at that date.
FINANCES
The subject is not required to lodge financial statements with the Australian Securities and Investments Commission.
During the current interview conducted with the subjects financial Controller Anna Marie, she declined to confirm or release any details pertaining to the subject unless the source of the enquiry was release.
As a result current financial and trading details could not be obtained for the current enquiry.
Investigations reveal that SamiDirect, the direct selling arm of Sami Group in India, is growing at the rate of 25-30 per cent on a year-on-year basis and are aiming to clock a turnover of Rs 100 crores in the next two years.
Please note, should further details pertaining to the subject of the enquiry be provided this report will be reinvestigated updated and forwarded to your office.
TRADE SURVEY
Details pertaining to the subjects suppliers were not provided for the current enquiry.
A trade survey on the subject was subsequently unable to 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 66.36 |
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1 |
INR 92.51 |
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Euro |
1 |
INR 81.05 |
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AUD |
1 |
INR 50.63 |
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 : |
KET |
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
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Company
background and operations size
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Promoters
/ Management background
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Payment
record
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Litigation
against the subject
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Industry
scenario / competitor analysis
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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.