MIRA INFORM REPORT

 

 

Report No. :

494567

Report Date :

06.03.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

AUSTRALIAN MERINO EXPORTS PTY LTD

 

 

Registered Office :

Unit 1 Geelong Accounting,Pty Ltd, 7 Retreat Road,Newtown Vic, 3220

 

 

Country :

Australia

 

 

Date of Incorporation :

27.05.2011

 

 

Legal Form :

Australian Proprietary Company

 

 

Line of Business :

The subject operates as Merino wool exporters.

 

 

No. of Employees :

15

 

 

RATING & COMMENTS

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

 

MIRA’s Rating :

A

 

Credit Rating

Explanation

Rating Comments

A

Acceptable Risk

Business dealings permissible with moderate risk of default

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

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

 

Company name

 

REGISTERED NAME                AUSTRALIAN MERINO EXPORTS PTY LTD

ACN: 151 148 435

ABN: 57 151 148 435

 

 

Summary Panel

 

Established

2007

 

Incorporated

2011

 

Line of Business

Wool exporters

Status

Trading

 

 

EXECUTIVE SUMMARY

 

Australian Merino Exports P/L

 

 

As at 30 June 2017

As at 30 June 2016

Change (%)

Revenue

$262,303,399.00

$174,951,837.00

49.93%

Profit b/tax

$835,749.00

$604,488.00

38.26%

Profit a/tax

$585,023.00

$423,142.00

38.26%

Net Profit Margin

0.22%

0.24%

-0.02%

 

During fiscal 2017, the subject recorded a deficiency in Net Cashflows from operating activities totalling $247,530.

 

As at 30 June 2017 the subject recorded Working Capital of $2,045,613 and a current ratio of 1.07 to 1 indicating satisfactory liquidity levels.

 

Net Assets totalled $2,102,336 as at 30 June 2017. Nil intangibles were recorded at this time.

 

 

CORPORATE SEARCH

 

Company Type             Australian Proprietary Company

 

Status                           Registered

 

Incorporation Date         27 May 2011

 

Incorporation State        VIC

 

Registered Office          UNIT 1 GEELONG ACCOUNTING

PTY LTD, 7 RETREAT ROAD

NEWTOWN VIC, 3220

 

 

Current Directors

 

Total: 2

Director Name               KELLY, CHRISTOPHER JOHN

Appointment Date         17 Aug 2011

Date of Birth                 17 Jul 1963

Place of Birth                MACARTHUR VIC

Gender                         MALE

Resident Overseas        N

Address                        1314 STEIGLITZ RD,

SUTHERLANDS CREEK VIC 3331

 

Director Name               THOMSON, JAMES RODERICK

Appointment Date         27 May 2011

Date of Birth                 10 Nov 1973

Place of Birth                ECHUCA VIC

Gender                         MALE

Resident Overseas        N

Address                        27 HIGHETT RD, HIGHTON VIC3216

 

 

Current Secretaries

 

Total: 1

Secretary Name             THOMSON, JAMES RODERICK

Appointment Date         27 May 2011

Date of Birth                 10 Nov 1973

Place of Birth                ECHUCA VIC

Address                        27 HIGHETT ROAD HIGHTON VIC, 3216

 

 

Company Shares

 

Total: 1000                               Amount: $1,000

Class                                        ORDINARY SHARES [ORD]

Number of Shares Issued          1000

Paid Capital                              $1,000.00

Total Amount Due and Payable $0.00

 

 

Current Shareholders

 

Shareholder Name         BARWON RURAL CONTRACTINGPTY LTD

ACN 108062399

Address                        UNIT 2, 228-236 PAKINGTON

STREET GEELONG WEST VIC,3218

Class                            ORD

Number Held                 300

Beneficially Held           N

Fully Paid                     Y

Jointly Held                   N

 

CJANDL P/L

Number Held                 300

 

Shareholder Name         DEEP BLUE INTERNATIONAL INVESTMENT HOLDING LTD

Address                        LEVEL 5, DEVELOPMENT BANK

OF SAMOA BUILDING BEACH

ROAD APIA SAMOA

Class                            ORD

Number Held                 400

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 3, 204-218 Dryburgh St

                                                NORTH MELBOURNE, VIC 3031

 

TELEPHONE                             (03) 9329 0760

 

FACSIMILE                               (03) 9329 9751

 

HOLDING ENTITY                      DEEP BLUE INTERNATIONAL INVESTMENT HOLDING LTD - Samoa

                       

BANK                                       ANZ BANKING GROUP

                                               

EMPLOYEES                            15

 

 

BACKGROUND

 

The subject was incorporated in Victoria on 27 May 2011 AS Australian Merino Exporting P/L before adopting the current style on 5 August 2016.

 

The subject was formed to take over the assets and operations of Australian Merino Exports Pty Ltd (Now ACN: 131 891 668 Pty Ltd) in an internal restructure.

 

Operations were founded in 2007.

 

 

OPERATIONS

 

The subject operates as Merino wool exporters.

 

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

 

 

ADVERSE

                                               

A search of records of on 28 February 2018 failed to trace any litigation listed against the subject at that date.

 

 

FINANCES

 

Below is a summary of the subject’s income results for the past two financial years.

 

Australian Merino Exports P/L

 

 

As at 30 June 2017

As at 30 June 2016

Change (%)

Revenue

$262,303,399.00

$174,951,837.00

49.93%

Profit b/tax

$835,749.00

$604,488.00

38.26%

Profit a/tax

$585,023.00

$423,142.00

38.26%

Net Profit Margin

0.22%

0.24%

-0.02%

 

During fiscal 2017, the subject recorded a deficiency in Net Cashflows from operating activities totalling $247,530.

 

As at 30 June 2017 the subject recorded total current assets of $32,139,883. They included receivables of $8,279,489 and stock on hand of $21,392,458,,

 

Current liabilities at the same date totalled $30,094,270 and included creditors of $9,391,704 and financial liabilities ofo $20,681,658

 

As at 30 June 2017 the subject recorded Working Capital of $2,045,613 and a current ratio of 1.07 to 1 indicating satisfactory liquidity levels.

 

Net Assets totalled $2,102,336 as at 30 June 2017. At this date, the subject further recorded a Debt to Equity ratio of 14 to 1. Nil intangibles were recorded at this time.

 

Australian Merino Exports P/L

 

 

As at 30 June 2017

As at 30 June 2016

Change (%)

Revenue

$262,303,399.00

$174,951,837.00

49.93%

Profit b/tax

$835,749.00

$604,488.00

38.26%

Profit a/tax

$585,023.00

$423,142.00

38.26%

Net Profit Margin

0.22%

0.24%

-0.02%

Current Assets

$32,139,883.00

$32,759,797.00

-1.89%

Non Current Assets

$56,723.00

$52,944.00

7.14%

Total Assets

$32,196,606.00

$32,812,741.00

-1.88%

Current Liabilities

$30,094,270.00

$31,295,428.00

-3.84%

Non Current Liabilities

 

 

#DIV/0!

Total Liabilities

$30,094,270.00

$31,295,428.00

-3.84%

Net Assets

$2,102,336.00

$1,517,313.00

38.56%

Working Capital

$2,045,613.00

$1,464,369.00

39.69%

Current Ratio

1.07

1.05

2.02%

Debt to Equity

14.31

20.63

-30.60%

 

 

 

TRADE SURVEY

 

Trade payment records from further sources in the past 4 months have traced the following data for the subject. 

 

Total Owing: $398

Total Past Due: $0

Average Late Payment Days: 0

All Industries Late Payment Days: 10

 

Within terms: $398

1 – 30 days past due: $0

31 – 60 days past due: $0

61 – 90 days past due: $0

91+ days: $0

 

 

 

 

 

 

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 65.05

UK Pound

1

INR 89.70

Euro

1

INR 80.03

AUD

1

INR 50.49

 

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

PRI

 

 

Report Prepared by :

SYL

                                                


 

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)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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