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MIRA INFORM REPORT
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Report No. : |
495656 |
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Report Date : |
08.03.2018 |
IDENTIFICATION DETAILS
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Name : |
WORLDPOLY P/L |
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Registered Office : |
Level 8 Essentia, Accounting Group, 488-490, Bourke Street Melbournevic, 3000 |
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Country : |
Australia |
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Date of Incorporation : |
06.04.2000 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
The subject operates in the import and supply of polyethylene pipe welding equipment |
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No. of Employees : |
10 |
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.
ECGC Country Risk Classification List
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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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
REGISTERED NAME WORLDPOLY P/L
ACN
092362260
ABN
56092362260
Summary
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Established |
Over
70 years |
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Incorporated |
2000 |
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Line of Business |
DISTRIBUTION
OF pew WELDING equipment |
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Status |
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Chief Executive Officer |
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EXECUTIVE
SUMMARY
For
the last financial year ended 30 June 2017 the subject traded profitably and
recorded revenue of $4,000,000.
Stable
trading results are forecast for the current financial year ending 30 June
2018.
The
subject maintains access to financing facilities with its bankers which are
used to assist in funding working capital requirements.
CORPORATE
SEARCH
Company Type Australian Proprietary Company
Status Registered
Incorporation Date 06 Apr 2000
Incorporation State VIC
Registered Office
LEVEL 8 ESSENTIA
ACCOUNTING GROUP, 488-490
BOURKE STREET MELBOURNEVIC, 3000
Current Directors
Total: 1
Director Name HALL, ROBERT
Appointment Date 06 Apr 2000
Date of Birth 24 Jan 1953
Place of Birth MELBOURNE VIC
Gender MALE
Resident Overseas N
Address 11 CORNISH RD, LYSTERFIELD
VIC 3156
Current Secretaries
Total: 2
Secretary Name HALL, ROBERT
Appointment Date 06 Apr 2000
Date of Birth 24 Jan 1953
Place of Birth MELBOURNE VIC
Address 11 CORNISH ROAD
LYSTERFIELD VIC, 3156
Secretary Name HALL, KATHY
Appointment Date 11 Nov 2010
Date of Birth 07 Oct 1955
Place of Birth MELBOURNE VIC
Address 11 CORNISH ROAD
LYSTERFIELD VIC, 3156
Company Shares Total: 12 Amount: $12
Class ORDINARY SHARES [ORD]
Number of Shares Issued 12
Paid Capital $12.00
Total Amount Due and Payable $0.00
Current Shareholders
Shareholder Name HALL, ROBERT
Address 11 CORNISH ROAD
LYSTERFIELD VIC, 3156
Class ORD
Number Held 12
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 11 Cornish Rd
LYSTERFIELD,
VIC 3156
TELEPHONE (613) 9759 7880
FACSIMILE (613) 9759 7876
WEBSITE http://www.worldpoly.com
BANK COMMONWEALTH
BANK OF AUSTRALIA
EMPLOYEES 10
BACKGROUND
The
subject was incorporated in Victoria on 6 April 2000 as World Wide Poly Pty
Ltd, before adopting the current style on 30 May 2000.
Operations
have been established for over 70years.
OPERATIONS
The subject operates in the import
and supply of polyethylene pipe welding equipment
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 the subject’s financial controller he
advised that for the last financial year ended 30 June 2017 the subject traded
profitably and recorded revenue of $4,000,000.
Stable
trading results are forecast for the current financial year ending 30 June
2018.
The
subject maintains access to financing facilities with its bankers which are
used to assist in funding working capital requirements.
Further
financial details were not released 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: $248
Total Past Due: $0
Average Late Payment Days: 0
All Industries Late Payment Days: 10
Within
terms: $248
1
– 30 days past due: $0
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 64.96 |
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1 |
INR 90.34 |
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Euro |
1 |
INR 80.75 |
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AUD |
1 |
INR 50.83 |
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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NIY |
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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
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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.