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MIRA INFORM REPORT
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Report No. : |
491349 |
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Report Date : |
16.02.2018 |
IDENTIFICATION DETAILS
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Name : |
PARSRAM FOODS PTY LTD |
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Registered Office : |
724
Curtin Ave E Pinkenba,Qld, 4008 |
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Country : |
Australia |
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Date of Incorporation : |
30.01.2014 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
The subject operates in the
import and distribution of food ingredients and spices. |
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No. of Employees : |
33 |
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 : |
Satisfactory |
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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 (30.06.2017) |
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
PARSRAM FOODS PTY LTD
ACN: 167 791 095
ABN: 39 167 791 095
Summary
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Established |
1977 |
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Incorporated |
2014 |
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Line of Business |
Import and wholesale of food products |
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Status |
Trading |
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Chief Executive Officer |
Bhoomi Punj |
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Adverse Listings |
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EXECUTIVE
SUMMARY
The
subject was formed to take over the assets and operations of the associated entity
Parsram Group Pty Ltd effective 1 July 2014.
Current
financial details are yet to be provided for the current enquiry.
For
the year ended 30 June 2016 the subject traded profitably and recorded revenue of
$13,300,000. This compares to revenue of $12,200,000 for the previous
corresponding year.
The
subject was expected to record revenue of $14,500,000 for the last financial
year ending 30 June 2017.
In
regards to asset backing the subjects Director is noted to own the premises
located at the above listed trading address.
CORPORATE
SEARCH
Company Type Australian
Proprietary Company
Status
Registered
Incorporation
Date 30 Jan 2014
Incorporation
State QLD
Registered
Office 724 CURTIN AVE E PINKENBA
QLD, 4008
Current
Directors
Total:
1
Director
Name PUNJ, BHOOMI PAL
Appointment
Date 30 Jan 2014
Date
of Birth 03 Jan 1973
Place
of Birth NEW DELHI INDIA
Gender
MALE
Resident
Overseas N
Address
23 EDSON ST, KENMORE QLD
4069
Document
Number 2E0181694
Current
Secretaries
Total:
1
Secretary
Name PUNJ, ANITA
Appointment
Date 30 Jan 2014
Date
of Birth 18 Aug 1969
Place
of Birth SINGAPORE
Address
58 EDSON STREET KENMORE
QLD,
4069
Document
Number 7E5817073
Company
Shares Total: 30000 Amount: $30,000
Class
ORDINARY [ORD]
Number
of Shares Issued 30000
Paid
Capital $30,000.00
Total
Amount Due and Payable $0.00
Document
Number 7E5820820
Current
Shareholders
Shareholder
Name
ACN
067456651
ABN
13067456651
Address
724 CURTIN AVE E PINKENBA
QLD,
4008
Class
ORD
Number
Held 30000
Beneficially
Held N
Fully
Paid Y
Jointly
Held N
Document
Number 7E5820820
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 724 CURTIN AVE
E PINKENBA QLD, 4008
TELEPHONE (617) 3632 7400
(617)
3632 7433 (Direct Line)
FACSIMILE (617) 3632 7466
EMAIL foods@parsram.com
WEBSITE http://www.parsram.com/
HOLDING
ENTITY PUNJ
INTERNATIONAL PTY. LTD.
BANK WESTPAC
BANKING CORPORATION
EMPLOYEES 33
BACKGROUND
The subject was incorporated in
Queensland on 30 January 2014 under the current style.
The
subject was formed to take over the assets and operations of the associated
entity Parsram Group Pty Ltd effective 1 July 2014.
Group
operations were founded in 1977.
OPERATIONS
The subject operates in the
import and distribution of food ingredients and spices.
The subject are exclusive
importers and distributors for leading and well-known Brands like Maggi (Nestle
India), Aashirwaad (ITC Ltd), Tilda Rice, Ashoka (ADF foods ltd), Gits Foods,
Eastern Spices, Kawan Foods, Catch Spices, Nanak’s frozen(Canada) and many
other leading brands, our network covers entire Australian ethnic retail and
foodservice trade
Activities are conducted from
premises located at the above listed trading address.
ADVERSE
A search of records 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 Director Bhoomi Punj, he advised that the subject was formed to take over the assets and operations of the associated entity Parsram Group Pty Ltd effective 1 July 2014.
Mr Punj advised that he would forward a copy of the subjects 2017 financials to our office, however despite chasing these are yet to be received,
For the year ended 30 June 2016 the subject traded profitably and recorded revenue of $13,300,000. This compares to revenue of $12,200,000 for the previous corresponding year.
The subject was expected to record revenue of
$14,500,000 for the last financial year ending 30 June 2017.
The subject maintains a financing facility with its bankers which has a $2,000,000 ceiling limit.
In regards to asset backing the subjects Director is noted to own the premises located at the above listed trading address.
Please note should further financial details be provided this report will be updated and forwarded to your office.
TRADE SURVEY
A trade survey on the subject traced the following accounts:
1. (Carton Solutions) Nominated supplier is yet to respond to correspondence despite chasing.
2. (03 9314 4422) Nominated supplier failed to respond to correspondence despite chasing.
Trade
payment records from further sources in the past 4 months have traced the
following data for the subject.
Total Owing: $4,102
Total Past Due: $285
Average Late Payment Days: 4
All Industries Late Payment
Days: 9
-Within terms: $4,102
-1 – 30 days past due: $285
-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 64.92 |
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1 |
INR 89.55 |
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Euro |
1 |
INR 79.68 |
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AUD |
1 |
INR 51.15 |
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
·
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.