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MIRA INFORM REPORT
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Report No. : |
496291 |
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Report Date : |
14.03.2018 |
IDENTIFICATION DETAILS
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Name : |
SYDNEY ESSENTIAL
OIL CO. PL |
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Registered Office : |
39 Melverton Drive Hallam VIC, 3803 |
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Country : |
Australia |
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Date of Incorporation : |
24.07.2014 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
The subject operates in the wholesale of aromatherapy oils and soaps. |
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No. of Employees : |
2 70 to 80 - Group |
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 |
CORPORATE
REPORT
REGISTERED NAME SYDNEY ESSENTIAL
OIL CO. PL
ACN 600890248
ABN 16600890248
Summary
Panel
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Established |
1997 |
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Incorporated |
2014 |
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Line of Business |
Distribution of essential oils |
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Status |
Trading |
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EXECUTIVE
SUMMARY
For the last financial year ended 30 June 2017 the subject traded profitably
and recorded revenue of $12,000,000 to $13,000,000.
On a projected basis, stable results are forecast for the current
financial year ending 30 June 2018.
The subject maintains access to group financing facilities which are
used to assist in funding working capital requirements.
CORPORATE
SEARCH
Company Type Australian Proprietary Company
Status Registered
Incorporation Date 24 Jul 2014
Incorporation State VIC
Registered Office 39 Melverton Drive Hallam VIC, 3803
Current Directors Total: 2
Director Name PEARCE, JESSICA SUMMER
Appointment Date 17 Jan 2017
Date of Birth 16 Nov 1979
Place of Birth BALLARAT VIC
Gender FEMALE
Resident Overseas N
Address 10, 553 WHITEHORSE RD,
SURREY HILLS VIC 3127
Director Name FERGEUS, JOHN JAMES
Appointment Date 24 Jul 2014
Date of Birth 28 Jan 1953
Place of Birth MELBOURNE VIC
Gender MALE
Resident Overseas N
Address 39 MELVERTON DR, HALLAM VIC3803
Current Secretaries Total: 1
Secretary Name FERGEUS, JOHN JAMES
Appointment Date 24 Jul 2014
Date of Birth 28 Jan 1953
Place of Birth MELBOURNE VIC
Address 39 MELVERTON DRIVE HALLAMVIC, 3803
Company Shares Total: 120 Amount: $120
Class ORDINARY [ORD]
Number of Shares Issued 120
Paid Capital $120.00
Total Amount Due and Payable $0.00
Current Shareholders
Shareholder Name AUSTRALIAN BOTANICAL
PRODUCTS PTY. LTD.
ACN 006782529
ABN 45006782529
Address INNATE FINANCIAL SERVICES
GROUP PTY LTD OFFICES 9, 19-
23 ARABIN STREET KEILOR VIC,
3036
Class ORD
Number Held 120
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 68
Melverton Dr
HALLAM,
VIC 3803
TELEPHONE (613)
9709 4800
FACSIMILE (613)
9796 4966
WEBSITE www.seoc.com.au
HOLDING ENTITY AUSTRALIAN BOTANICAL PRODUCTS PTY. LTD.
BANK COMMONWEALTH
BANK OF AUSTRALIA
EMPLOYEES 2
70
to 80 - group
BACKGROUND
The subject was incorporated in Victoria on 24 July 2014 adopting the
current style on 8 December 2014.
In December 2014 the subject was utilised to acquire the assets and
operations of an existing business under the name Sydney Essential Oil Co P/L.
The subject was originally founded in 1997 by Michael Samperi and Daniel
Galea.
OPERATIONS
The subject operates in the wholesale of aromatherapy oils and soaps.
Activities are conducted from premises located at the above listed trading
address.
ADVERSE
A search of records of on 8 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 Financial Controller Phil
Paulie, he advised that for the last financial year ended 30 June 2017 the
subject traded profitably and recorded revenue of $12,000,000 to $13,000,000.
On a projected basis, stable results are forecast for the current
financial year ending 30 June 2018.
For the future financial year ending 30 June 2019 the subject expects to
record trading growth.
Current assets include stock on hand of $2,400,000.
The subject maintains access to group financing facilities which are
used to assist in funding working capital requirements.
Further financial details could not be obtained for the current enquiry.
TRADE SURVEY
A trade survey on the subject traced the following accounts:
1.
(Ingredients Plus) Purchases average $5,000 to
$10,000 per month on 30 day terms. Payment is met in
30 days and the account is considered
satisfactory having been known since 2006.
2. (Oz Staff Holdings)
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:
$3,310
Total Past Due:
$2,945
Average Late
Payment Days: 51
All Industries
Late Payment Days: 10
Within terms: $365
1 – 30 days past due: $0
31 – 60 days past due: $1,704
61 – 90 days past due: $1,241
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 64.95 |
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1 |
INR 90.23 |
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Euro |
1 |
INR 80.09 |
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AUD |
1 |
INR 51.18 |
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
·
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.