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MIRA
INFORM REPORT
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Report No. : |
495416 |
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Report Date : |
08.03.2018 |
IDENTIFICATION DETAILS
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Name : |
MAHARAJAH STORES |
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Registered Office : |
Shop 2, 145 High Rd, Willetton WA 6155 |
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Country : |
Australia |
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Date of Incorporation : |
05.06.2007 |
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Legal Form : |
Proprietorship |
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Line of Business : |
The subject operates in the import retail and wholesale of Indian
groceries. |
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No. of Employees : |
6 |
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 : |
Slow but correct |
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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.
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 |
note
In absence of company financials, no credit limit could be recommended.
CORPORATE REPORT
REGISTERED NAME MAHARAJAH STORES
ABN 34 741 956 419
Summary Panel |
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Established |
2007 |
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Incorporated |
2007 |
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Line of Business |
Retail and wholesale of groceries |
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Status |
Trading |
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Proprietor |
SHOUKAT, MAHMOOD |
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EXECUTIVE SUMMARY
For the last financial year ended 30 June 2017 the subject traded
profitably and recorded revenue of $2,900,000.
On a projected basis, stable trading results are expected for the
current financial year ending 30 June 2018.
The subject maintains no overdraft facilities or external borrowings as
all operations are funded through the internal cashflows of the company.
CORPORATE SEARCH
Company Type Proprietorship
Registered State WA
Business Status Registered
Registered 5
June 2007
Renewal Date 05
Jun 2016
Principal Place of Business 2, 145 HIGH RD, WILLETTON WA 6155
Sole Proprietor: 1
Name SHOUKAT, MAHMOOD
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 Shop 2, 145 High Rd,
Willetton WA 6155
TELEPHONE (618) 9259 0958
MOBILE 0411
144 371
BANK ANZ
BANKING GROUP
EMPLOYEES 6
BACKGROUND
The subject was registered in Western Australia on 5 June 2007 to
commence operations under the current style as a new venture.
OPERATIONS
The subject operates in the import retail and wholesale of Indian
groceries.
Activities are conducted from premises located at the above listed
trading address.
ADVERSE
A search of records of on 2 March 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 interview conducted with Proprietor Mahmood Shoukat,
he advised that for the last financial year ended 30 June 2017 the subject
traded profitably and recorded revenue of $2,900,000.
On a projected basis, stable trading results are expected for the
current financial year ending 30 June 2018.
For the year ended 30 June 2015 the subject recorded revenue of
$3,020,000.
Current assets include stock on hand of $300,000.
The subject maintains no overdraft facilities or external borrowings as
all operations are funded through the internal cashflows of the company.
Further financial details were unable to be obtained for the current
enquiry.
TRADE SURVEY
The subject imports all requirements. A trade survey on the subject
traced the following accounts:
1. (Mainfreight) Nominated
supplier failed to respond to correspondence despite chasing.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 64.96 |
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1 |
INR 90.34 |
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Euro |
1 |
INR 80.75 |
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AUD |
1 |
INR 50.79 |
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
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Promoters
/ Management background
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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.