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MIRA
INFORM REPORT
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Report No. : |
489002 |
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Report Date : |
05.02.2018 |
IDENTIFICATION DETAILS
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Name : |
R&G TEXTILES |
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Registered Office : |
101 Morgan Ave Melrose Park SA 5039 |
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Country : |
Australia |
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Date of Incorporation : |
23.04.2014 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
The subject is believed to operate in the distribution of textile
products including towels, bedlinen and kitchen towels. |
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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 : |
C |
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Credit Rating |
Explanation |
Rating Comments |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured 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 |
CORPORATE REPORT
REGISTERED NAME R&G TEXTILES
ABN: 60 781 753 343
CREDIT REQUEST
Summary Panel |
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Registered |
2014 |
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Line of Business |
Distribution of textile products |
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Status |
Not determined |
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Chief Executive Officer |
GHAZNA RAFI |
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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.
In view of the above the subject has been assigned with a rating of ‘NA
5’.
CORPORATE SEARCH
Company Type Australian
Proprietary Company
Status: Registered
Registration date: 23/04/2014
Renewal date: 23/04/2018
Address for service of documents: 101 Morgan
Ave Melrose Park SA 5039
Holder(s) details: Holder name: GHAZNA RAFI
Holder type: Person
Regulator: Australian Securities and
Investments Commission
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 18 Arnold St
KINGSWOOD
SOUTH SA 5062
TELEPHONE Not determined
BANK
Not determined
EMPLOYEES Not determined
BACKGROUND
The subject was registered in South Australia 23 April 2014 under the
current style
OPERATIONS
The subject is believed to operate in the distribution of textile
products including towels, bedlinen and kitchen towels.
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 or its
principal could not be established. The following number was traced for the
subject (08 8123 6610). Upon calling this number the line continued to ring out
without response. A further search of records failed to trace any additional
listed numbers for the subject.
As a result, details pertaining to the subjects operating trading and
financial position could not be obtained.
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 64.07 |
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1 |
INR 91.34 |
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Euro |
1 |
INR 80.03 |
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AUD |
1 |
INR 50.93 |
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
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Payment
record
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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.