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MIRA INFORM REPORT
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Report No. : |
489108 |
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Report Date : |
05.02.2018 |
IDENTIFICATION DETAILS
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Name : |
PARAGON OIL GROUP P/L |
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Registered Office : |
Duncan
mcphail & co pty, ltd, 15 lyall street south, Perth wa, 6151 |
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Country : |
Australia |
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Date of Incorporation : |
14.12.2011 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
·
The
subject operates in the supply of bulk oil and petroleum products. ·
The
subject provides integrated, tailored solutions for bulk oil supply,
production and marketing to customers throughout Australasia. |
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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 (30.06.2017) |
Current Rating (30.09.2017) |
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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 and address
PARAGON OIL GROUP P/L
ACN 154787676
ABN 12154787676
Summary
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Incorporated
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2011 |
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Line
of Business |
Supply of bulk oil and petroleum |
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Status |
Trading |
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Chief
Executive Officer |
MATTHEWS, JUSTIN GEOFFREY |
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Adverse
Listings |
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EXECUTIVE
SUMMARY
Details
pertaining to the subjects operating trading and financial position could not be
obtained for the current enquiry.
CORPORATE SEARCH
Company Type Australian
Proprietary Company
Status Registered
Incorporation Date 14 Dec 2011
Incorporation State WA
Registered Office
DUNCAN MCPHAIL & CO PTY
LTD, 15 LYALL STREET SOUTH
PERTH WA, 6151
Current Directors
Total: 1
Director Name MATTHEWS, JUSTIN GEOFFREY
Appointment Date 14 Dec 2011
Date of Birth 09 Nov 1971
Place of Birth SUBIACO WA
Gender MALE
Resident Overseas N
Address 3 SALADIN ST, SWANBOURNEWA 6010
Current Secretaries
Total: 1
Secretary Name MATTHEWS, JUSTIN GEOFFREY
Appointment Date 14 Dec 2011
Date of Birth 09 Nov 1971
Place of Birth SUBIACO WA
Address 3 SALADIN STREET
SWANBOURNE WA, 6010
Company Shares
Total: 100 Amount: $100
Class ORDINARY [ORD]
Number of Shares Issued 100
Paid Capital $100.00
Total Amount Due and Payable $0.00
Current Shareholders
Shareholder Name MATTHEWS, JUSTIN GEOFFREY
Address 3 SALADIN STREET
SWANBOURNE WA, 6010
Class ORD
Number Held 100
Beneficially Held N
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 Level 1, 229
Stirling Hwy
CLAREMONT
WA 6010
POSTAL
ADDRESS PO BOX 469
CLAREMONT
WA 6910
TELEPHONE (618) 9386 6514
WEBSITE www.paragonoilgroup.com
BANK Not
determined
EMPLOYEES Not determined
BACKGROUND
The subject was incorporated in
Western Australia on 14 December 2011 before adopting the current style on 26
July 2013.
OPERATIONS
The subject
operates in the supply of bulk oil and petroleum products.
The subject provides
integrated, tailored solutions for bulk oil supply, production and marketing to
customers throughout Australasia.
Activities are conducted from premises located at the above listed trading address.
ADVERSE
A search of records
of on 31 January 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
investigation contact with the subject’s financial controller was unable to be
established. Despite messages being left, no reply has been received.
As a result,
details pertaining to the subjects operating trading and financial position
could not be obtained for the current enquiry.
TRADE
SURVEY
Trade payment
records from further sources in the past 4 months have traced the following
data for the subject.
Total Owing: $894
Total Past Due:
$894
Average Late
Payment Days: 15
Industry average
late payment days: 9
Within terms: $0
1 – 30 days past
due: $894
31 – 60 days past
due: $0
61 – 90 days past
due: $0
91+ days: $0
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.08 |
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1 |
INR 91.34 |
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Euro |
1 |
INR 80.03 |
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AUD |
1 |
INR 50.88 |
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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VAR |
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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
·
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
·
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.