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MIRA INFORM REPORT
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Report No. : |
510567 |
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Report Date : |
29.05.2018 |
IDENTIFICATION DETAILS
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Name : |
ESS EARTH SCIENCES P/L |
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Registered Office : |
141 Palmer Street, Richmond Vic, 3121 |
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Country : |
Australia |
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Date of Incorporation : |
18.06.1982 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
The Subject operates in the distribution of monitoring
systems in the fields of seismology, geotechnical Engineering, hydrology,
oceanography, air quality, and other environmental monitoring applications. |
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No. of Employees : |
29 |
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 is growing at a slower pace and sharp drops in export 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 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 ESS
EARTH SCIENCES P/L
ACN 006058395
ABN 50006058395
Summary
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Established |
1982 |
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Incorporated |
1982 |
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Line of Business |
Distribution of scientific equipment |
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Status |
Trading |
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Chief Executive Officer |
COOKES, COLIN STUART |
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Adverse Listings |
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EXECUTIVE
SUMMARY
Current financial details were subsequently unable to be
obtained.
The subject was expecting to record revenue of $5,700,000
for the last financial year ended 30 June 2017.
The group generates revenue in the order of $11,000,000.
The subject maintains access to financing facilities with
its bankers.
CORPORATE SEARCH
Company Type Australian
Proprietary Company
Status Registered
Incorporation Date 18
Jun 1982
Incorporation State VIC
Registered Office
141 PALMER STREET
RICHMOND VIC, 3121
Current Directors Total: 1
Director Name COOKES, COLIN STUART
Appointment Date 06 Apr 1990
Date of Birth 29 Sep 1954
Place of Birth MELBOURNE VIC
Gender MALE
Resident Overseas N
Address 401, 401 ST KILDA RD,
MELBOURNE VIC 3004
Document Number 7E5878246
Current Secretaries Total: 3
Secretary Name COVERDALE, RAYMOND
HERBERT
Appointment Date 16 Jul 2001
Date of Birth 05 Jan 1952
Place of Birth MELBOURNE VIC
Address 16 HANBURY COURT
KEYSBOROUGH VIC, 3173
Secretary Name COOKES, ANDREW DAVID
Appointment Date 25 Aug 1999
Date of Birth 29 Jul 1953
Place of Birth MELBOURNE VIC
Address 13 ELMIE TERRACE MOUNT
MARTHA VIC, 3934
Secretary Name TRAILOVIC, SANYA
Appointment Date 31 Mar 2014
Date of Birth 12 Mar 1972
Place of Birth KIKINDA SERBIA
Address 6 TEOFILO DRIVE LYSTERFIELD
VIC, 3156
Current Other Organisation Officers
Officer Role Appointed Auditor
Officer Name MANN JUDD
ACN 037023966
Appointment Date 25 Jun 1990
Address LEVEL 32 NAURU HOUSE, 80
COLLINS STREET MELBOURNE
VIC, 3000
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 COOKES, COLIN STUART
Address UNIT 401 LEVEL 4, 401 ST KILDA
ROAD MELBOURNE VIC, 3004
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 141
PALMER STREET
RICHMOND
VIC, 3121
POSTAL ADDRESS PO
Box 318
Samford
QLD 4520
TELEPHONE (613)
8420 8999
FACSIMILE (613)
8420 8900
EMAIL sanya.trailovic@esands.com
WEBSITE www.essearth.com
ASSOCIATED ENTITIES ESS
WEATHERTEH P/L
ESS
WETHERTECH HOLDINGS
ESS
EARTH SCIENCES HOLDINGS
THE
STUART GROUP P/L
BANK ANZ
BANKING GROUP
EMPLOYEES 29
BACKGROUND
The subject
was incorporated in Victoria on 18 June 1982 as Twenty-Seventh Troban P/L
changing name to Sencom Australia P/L changing name to Consen P/L before
adopting the current style on 4 April 2014.
The subject was formed to restructure the assets and
operations of a group that was established in 1982.
OPERATIONS
The subject operates in the distribution of monitoring
systems in the fields of seismology, geotechnical Engineering, hydrology,
oceanography, air quality, and other environmental monitoring applications.
ESS Earth Sciences and our sister company ESS Weathertech
were born from Environmental Systems & Services (ES&S).
ES&S provided weather radars and satellite data reception systems to
meteorological authorities in the Asia Pacific region, including the
Australian Bureau of Meteorology. ESS Weathertech continues to provide the best
meteorological products from around the world to the Asia-Pacific region and
beyond.
The ESS Earth Sciences operational groups are
broadly divided into the Seismology Research Centre, Mindata
Australia, and Geosystems Australia – businesses that ES&S acquired in
the early 2000’s.
Products and services are used by top
tier organisations in Australia and around the world: from universities
and government scientific organisations; major players in the oil, gas and
mineral resource sectors; water resource authorities; to major road and
civil contractors.
Activities are conducted from LEASED premises located at the
above listed trading address.
ADVERSE
A search of records of on 21 May 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 Sanya Trailovic, she confirmed the subjects search and
operational details however declined to release any financial details for the
current enquiry.
Current financial details were subsequently unable to be
obtained.
The subject was expecting to record revenue of $5,700,000
for the last financial year ended 30 June 2017.
For the year ended 30 June 2016 the subject traded profitably
and recorded revenue of $5,200,000. This compares to revenue of $4,000,000 for
the previous corresponding year ended 30 June 2015.
The group generates revenue in the order of $11,000,000.
The subject maintains access to financing facilities with its
bankers.
TRADE SURVEY
The subject imports most
products. A trade survey on the subject traced the following accounts:
1. (ITM)
Nominated supplier failed to respond to correspondence despite chasing.
2. (Applied Automation) Purchases average
$10,000 to $20,000, per month on 30 day terms. Payment is met in 30 days and
the account is considered satisfactory having been known since 2010.
3. (Element 14)
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 67.44 |
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1 |
INR 89.89 |
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Euro |
1 |
INR 70.00 |
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AUD |
1 |
INR 51.01 |
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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VAR |
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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.