MIRA INFORM REPORT

Report No. :	504627
Report Date :	26.04.2018

IDENTIFICATION DETAILS

Name :	ELMSTOCK TEA COMPANY PL
Registered Office :	Unit 14, 8 Booth Place, Balcatta Wa, 6021
Country :	Australia
Date of Incorporation :	23.05.1989
Legal Form :	Australian Proprietary Company
Line of Business :	The subject operates in the import and sale of premium quality teas, sourced from all the world's major tea growing countries and regions
No. of Employees :	Not available

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

B

Credit Rating	Explanation	Rating Comments
B	Medium Risk	Business dealings permissible on a regular monitoring basis

Status :	Moderate
Payment Behaviour :	Unknown
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

Country Name	Previous Rating (30.09.2017)	Current Rating (31.12.2017)
Australia	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
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.

Source : CIA

NOTE

In absence of financials, no credit limit could be recommended.

REGISTERED NAME

ELMSTOCK TEA COMPANY P/L

ACN 009390621

ABN 34009390621

Summary
Established	1979
Incorporated	1989
Line of Business	Distribution of tea.
Status	Trading
Chief Executive Officer	NIGEL WHITE
Adverse Listings	Nil

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 23 May 1989

Incorporation State WA

Registered Office

UNIT 14, 8 BOOTH PLACE

BALCATTA WA, 6021

Current Directors

Total: 2

Director Name WHITE, HILARY WILTON

Appointment Date 30 Dec 1995

Date of Birth 24 Apr 1946

Place of Birth KANDY SRI LANKA

Gender MALE

Resident Overseas N

Address 160 EMPIRE AVE, WEMBLEY

DOWNS WA 6019

Director Name WHITE, NIGEL GEORGE

Appointment Date 01 Feb 1992

Date of Birth 12 May 1971

Place of Birth SRI LANKA

Gender MALE

Resident Overseas N

Address 160 EMPIRE AVE, WEMBLEY

DOWNS WA 6019

Current Secretaries

Total: 1

Secretary Name WHITE, HILARY WILTONGEORGE

Appointment Date 29 May 1989

Date of Birth 24 Apr 1946

Place of Birth KANDY SRI LANKA

Address 160 EMPIRE AVENUE WEMBLEY

DOWNS WA, 6019

Company Shares Total: 4 Amount: $4

Class ORDINARY SHARES [ORD]

Number of Shares Issued 4

Paid Capital $4.00

Total Amount Due and Payable $0.00

Current Shareholders

Shareholder Name WHITE, HILARY WILTONGEORGE

Address 160 EMPIRE AVENUE WEMBLEY

DOWNS WA, 6019

Class ORD

Number Held 2

Beneficially Held Y

Fully Paid Y

Jointly Held N

Shareholder Name WHITE, NIGEL GEORGE

Address 92 TELFORD CRESCENT

STIRLING WA, 6021

Class ORD

Number Held 2

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 UNIT 14, 8 BOOTH PLACE

BALCATTA WA, 6021

TELEPHONE (618) 9240 4237

WEBSITE www.elmstocktea.com.au

BANK Not determined

EMPLOYEES Not determined

BACKGROUND

The subject was incorporated in Western Australia on 23 May 1989 before adopting the current style on 28 March 1994.

Operations were founded in 1979

OPERATIONS

The subject operates in the import and sale of premium quality teas, sourced from all the world's major tea growing countries and regions.

Fruit and herbal infusions are a growing part of our business and are imported from leading producers in Europe.

Activities are conducted from premises located at the above listed trading address.

ADVERSE

A search of of on 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 investigation contact with the subjects Directors could not be established. It was advised that they are overseas and are not due to return for 2 weeks.

As a result, details pertaining to the subject’s financial and trading position could not be obtained for the current enquiry.

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

Currency	Unit	Indian Rupees
US Dollar	1	INR 66.7
UK Pound	1	INR 93.14
Euro	1	INR 81.43
AUD	1	INR 50.61

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	NIS
Report Prepared by :	KET

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
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)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.