MIRA INFORM REPORT
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Report Date : |
09.12.2011 |
IDENTIFICATION DETAILS
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Name : |
DTI GROUP LTD |
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Formerly Known As : |
UTS NAVIGATION SYSTEMS LTD |
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Registered Office : |
50 Affleck Road, Perth Airport , Western Australia Zip/postal code 6105 |
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Country : |
Australia |
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Date of Incorporation : |
08.06.1995 |
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Com. Reg. No.: |
069791091 |
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Legal Form : |
Unlisted Public Company |
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Line of Business : |
Designs, develops,
sells, and manages integrated video surveillance and vehicle tracking technology |
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No. of Employees : |
50 persons |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD
700,000 |
|
Status : |
Satisfactory |
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Payment
Behaviour : |
No Complaints |
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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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Australia |
a1 |
a1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Identification details
Verified Address
Subject name : DTI GROUP LTD
Other style / Business name : DIGITAL TECHNOLOGY INTERNATIONAL
Business address : 50 Affleck Road
Town : Perth Airport
Province : Western Australia
Zip/postal code : 6105
Country : Australia
Tel : +61 8 94791195
Fax : +61 8 94791190
Website : www.dti.com.au
Registered address : 50 Affleck Road
Town : Perth Airport
Province : Western Australia
Zip/postal code : 6105
Country : Australia
Summary details
Executive Summary
Date founded or
registered : 08/06/1995
Legal form : Unlisted Public Company
Chief executive : Richard Andrew Johnson
Issued & paid up
capital : AUD 10,053,700
Sales turnover : AUD 16,638,361 (Non-consolidated 12
months, 30/06/2011)
Net income : AUD 776,151 (Non-consolidated 12
months, 30/06/2011)
Total fixed assets : AUD 11,741,082 (Non-consolidated 12
months, 30/06/2011)
Line of business :
Designs, develops, sells, and manages
integrated video surveillance and
vehicle tracking technology.
Staff employed : 50 employees
Credit risk opinion
Company Analysis
Country
risk : Country risk is minimal
Operation
trend : Operational trend is progressing
Management
experience : Management is reasonably experienced
Financial
performance : Financial performance is fair
Organization
structure : Organizational structure is stable
Detrimental : No detrimental records found
Payment
history : No payment delays noted
Credit
amount suggestion : USD 700,000
Credit amount asked : USD 500,000
Comments : Larger credit can still be considered
not exceeding USD 1,200,000.
Statutory details
Registry Data
Registration date : 08/06/1995
Legal form : Unlisted Public Company
Registration no Australian
Company Number: 069791091
Registered authority : Australian Securities & Investments
Commission
Fiscal/ Tax no : Australian Business Number: 15069791091
Registry status : Live/Active
Previous name : The Subject was established on
08-06-1995 under the name UTS NAVIGATION SYSTEMS PTY LTD and changed its name to UTS NAVIGATION SYSTEMS LTD on
15-07-2004. UTS NAVIGATION SYSTEMS LTD then changed its name to the current
style on 08-12-2004.
Change of legal form : None reported.
Management / directors
Key Management
Name : Richard Andrew Johnson
Designation : Managing
Director
Name : Jeremy Grant Loftus
Designation : Chief
Financial Officer
Name : Keith Hughes
Designation : General
Manager - Australia
Name : Rick Gougeon
Designation : General
Manager - Americas
Name : Steve Donnohue
Designation : General
Manager - EMEA
Name : Jean-Michel Florent
Designation : General
Manager - Asia
Board of directors / other
appointments
|
Name :
Designation : Appointment
date : Address : |
Neil Edward Goodey Director 08/06/95 7 Barberry Court |
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|
Dianella, WA
6059 Australia |
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Biography : |
Born on 15-05-1969 in United Kingdom. |
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Neil has over 20 years
management and directorship experience in technology and mining service
companies. Neil was co-founder of DTI Group as well as a
number of other successful companies including UTS Geophysics. Neil is Managing
Director and cofounder of Corescan Pty Ltd. |
|
Name : |
Glyn Denison |
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Designation : |
Non-Executive Director |
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Appointment date : |
19/01/04 |
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Address : |
4 Clarendon Street Cottesloe, WA 6011 Australia |
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Biography : |
Born on 28-09-1952 in Perth, Western Australia, Australia. |
|
|
Glyn has over 20 years experience in the transit technology sector and
was a co-founder of ERG Limited. Glyn is a Director of OBJ Ltd. and consults with the business consulting firm of Evans & Peck
Ltd. Glyn’s qualifications include a B.Eng., Grad.Dip.B.A., and MIEAust. |
Name : Christopher John Morris
Designation : Chairman
Appointment date : 29/06/11
Address : 123 Beaconsfield Parade
Albert Park, VIC 3206
Australia
Biography : Born on 20-10-1947 in Melbourne, Victoria,
Australia.
Chris attended his first
computer course in Melbourne in 1966 after completing high school. Following
this he worked for various computer companies mainly associated with
maintaining companies share registries until 1978 when he was a founding member
of Computershare Limited (established in 1978) and was appointed Chief
Executive Officer in 1990. Chris’ extensive knowledge of the securities
industry and its user requirements from both a national and international
perspective, coupled with his passion and long term strategic vision, has been
instrumental in developing Computershare into a global company that is unique
in its provision of a full range of solutions to meet the needs of listed
companies and their stakeholders.
In September 2010 he
relinquished his executive responsibilities at Computershare Limited and took
on the role of Non-Executive Chairman. Since then he has joined the board of
Web Firm and is Chairman of Car Parking Technologies. He is also on the board
of a number of private technology companies and owns a hotel group called the
Colonial Leisure Group which has 15 hotels in Perth
and Melbourne.
Name : Jeremy Philip King
Designation : Non-Executive Director
Appointment date : 29/06/11
Address : 8 St Leonards Avenue
West Leederville, WA 6007
Australia
Biography : Born on 11-05-1974 in Melbourne,
Victoria, Australia.
Jeremy is a corporate
lawyer with over 12 years experience in domestic and international law, as well
as in financial and corporate matters. He spent several years in London where
he worked with Allen & Overy LLP and Debevoise & Plimpton LLP. He has
extensive corporate experience, particularly in relation to cross-border
private equity, leveraged buy-out acquisitions and acting for banks,
financial institutions and corporate issuers in respect of various debt
and equity capital raisings. As a corporate advisor with Max Capital Pty
Limited, he regularly advises a wide range of listed public and private
companies in respect to capital raisings, investments, acquisitions and
corporate issues.
Name : Richard Andrew Johnson
Designation : Managing Director
Appointment date : 09/08/11
Address : 3 Vigors Court
Duncraig, WA 6023
Australia
Biography : Born on 29-12-1963 in Calgary, Canada.
Richard is a qualified
engineer and has over 17 years experience in the transit technology sector. In
2005 Richard joined DTI as General Manager and commenced the role as Chief
Executive Officer in October 2006. In June 2011 Richard joined the Board as
Managing Director. Prior to joining DTI, he held senior management positions
within ERG Limited which developed, supplied, and managed integrated fare
collection systems for the transit industry around the world. Richard’s
qualifications include a B.Sc (Eng), M.Eng.St., and an MBA.
Name : Jeremy Grant Loftus
Designation : Company Secretary
Appointment date : 01/01/11
Address : 15 Wexcombe Way
Aveley, WA 6069
Australia
Biography : Born on 30-11-1971 in Merredin, Western
Australia, Australia.
Jeremy has been qualified as a CPA for over 15 years and has over 10
years experience in senior financial roles. He joined DTI in 2009 as CFO and is
responsible for the management and administration of all aspects relating to
both internal and external financial accounting and reporting. Prior to DTI
Jeremy has gained experience working as CFO for several ASX listed companies
including Quickflix Ltd and Advance Healthcare Ltd. He has worked across varied
industries including electronics, online media, pharmaceutical and FMCG with
experience in both manufacture and wholesale environments.
Staff employed : 50 employees
Key advisors
Auditors : BDO
AUDIT (WA) PTY LTD
38 Station Street
Subiaco, WA 6008
Australia
Solicitors : HEWETT & LOVITT
Level 1, 849 Wellington Street
West Perth, WA 6005
Australia
Share capital
Composition
Authorized Capital : AUD 10,053,700
No of shares : 10,376,117 Ordinary Shares
Share par value : No par value
Issued capital : AUD 10,053,700
Paid up capital : AUD 10,053,700
ownership / shareholders
How listed : N/A
Composition
Ownership / Shareholding comment :
Unlisted Public Companies in Australia
are not required to disclosed their shareholding structure however the Subject
is believe to be controlled by the Board of Directors.
Related companies & corporate Affiliations
Structure
Name : VIRTUAL OBSERVER PTY LTD
Affiliation
type :
Associate
Address :
50 Affleck Road
Perth Airport, WA 6105
Australia
Name : CORESCAN PTY LTD
Affiliation
type :
Associate
Address :
Unit 13, 28 Belmont Avenue
Belmont, WA 6104
Australia
Bank & mortgages
Bank Details
Name of bank : Westpac Banking Corporation
Address : Australia
Account details : Current Account
Comments : It is generally not the policy of local
banks to provide credit status information to non related parties, however
interested parties would be advised to consult first with the Subject if
banker's references are required.
Mortgages
Satisfied Charge
Details
ASIC Charge Number: 808186
Date Registered: 04-07-2001
Charge type: Both Fixed & Floating
Date Created: 02-06-2001
Chargees Name: COMMONWEALTH BANK OF AUSTRALIA
ASIC Charge Number: 1308268
Date Registered: 02-06-2006
Charge type: Both Fixed & Floating
Date Created: 02-06-2006
Chargees Name: PENDULUM CAPITAL PTY LIMITED
ASIC Charge Number: 1779354
Date Registered: 21-04-2009
Charge type: Both Fixed & Floating
Date Created: 15-04-2009
Chargees Name: PENDULUM INVESTMENTS PTY LIMITED
ASIC Charge Number: 1807040
Date Registered: 30-06-2009
Charge type: Both Fixed & Floating
Date Created: 16-06-2009
Chargees Name: WESTPAC BANKING CORPORATION
ASIC Charge Number: 1900689
Date Registered: 23-12-2009
Charge type: Both Fixed & Floating
Date Created: 21-12-2009
Chargees Name: PENDULUM INVESTMENTS PTY LIMITED
ASIC Charge Number: 1916580
Date Registered: 21-01-2010
Charge type: Both Fixed & Floating
Date Created: 20-01-2010
Chargees Name: PENDULUM INVESTMENTS PTY LIMITED
ASIC Charge Number: 2054196
Date Registered: 30-09-2010
Charge type: Both Fixed & Floating
Date Created: 30-09-2010
Chargees Name: BERMUDA COMMERCIAL BANK LIMITED
Legal Fillings
Bankruptcy fillings : None reported.
Court judgements : None reported.
Tax liens : None reported.
Others : None reported.
financial data
Description
Source of financial statement : Commercial
Registry Filings
Financial statement date : 30/06/11
Type of accounts : Full audited
Currency : Australia Dollar (AUD)
Exchange rate : 1 USD = AUD 0.98 as of 12-05-2011
Summarized Financial Information
|
Consolidation
type : |
Non Consolidated |
Non Consolidated |
|
Currency : |
Australia Dollar
(AUD) |
Australia Dollar
(AUD) |
|
Denomination : |
(x1) One |
(x1) One |
|
Date
of financial year end : |
30/06/11 |
30/06/10 |
|
Length
of accounts : |
12 months |
12 months |
|
Sale turnover /
Income : |
16,638,361 |
10,240,855 |
|
Profit before
tax : |
565,151 |
12,092 |
|
Net income : |
776,151 |
162,092 |
|
Non current
assets : |
3,089,495 |
1,436,151 |
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Current assets : |
8,651,587 |
5,204,966 |
|
Inventories : |
1,367,136 |
1,943,172 |
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Total assets : |
11,741,082 |
6,641,117 |
|
Current
liabilities : |
4,286,308 |
3,609,060 |
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Non current
liabilities : |
60,403 |
2,327,835 |
|
Total
liabilities : |
4,346,711 |
5,936,895 |
|
Share equity : |
7,394,371 |
704,222 |
|
Reserve : |
1,118,376 |
34,278 |
|
Retained earning : |
-2,676,486 |
-3,452,637 |
Operation details
Main activities
The Subject is engaged in design,
development, sales and management of integrated video surveillance and vehicle
tracking technology specially developed for use in the public transport sector
including bus, rail, taxi and law enforcement operations.
The Subject’s
integrated solution incorporates proprietary hardware and software technology
which enables high quality digital video, audio and vehicle location
information to be captured, stored, retrieved and reviewed across a fleet of
transit vehicles.
Product &
services
Bus Solutions
-Mobile Digital Recorder (MDR5 series)
-CCTV Investigation Software
-Surveillance Management System
Rail Solutions
-Integrated Rail Communication, Passenger Information and Video
Surveillance System
-DRU System Server
-Video Surveillance Recording
-Train Data Recorder (TDR)
-Passenger Emergency Intercom
-Driver Display Unit
-External Destination Indicator
-CCTV Investigation Software
-Surveillance Management System
-Automated Camera Maintenance System
-Fleet Data Management System (FDMS)
-Vehicle Location System
-Vehicle Data Recorder
Taxi Solutions
-In Car Video
-Software and Data, Vehicle Interface Modules
-Driver Duress
-Camera Coverage & Picture Quality
Purchases
International : Taiwan, China, United States, United Kingdom
Sales
Local : Yes
International : United Kingdom, United States, United Arab Emirates, South Africa, Netherlands
Property & Assets
Premises : The Subject operates from premises located at the verified heading address consisting of
production facilities, warehouse and administrative office.
Branches : None reported.
property : Total NBV of property, plant and equipment as of 30-06-2011 was AUD 302,813.
Summarized country risk
Central bank : Reserve Bank of Australia
Reserve of foreign exchange & gold : US$ 41.385 billion
Gross domestic product – GDP : US$ 1.235 trillion
GPP (Purchasing power parity) : 918.529 billion of International dollars
GDP per capita - current prices : US$ 55,590
GDP - composition by sector : agriculture: 4.1% industry: 26% services: 70%
Inflation : 2008: 4.4%
2009: 1.8%
2010: 2.8%
Unemployment rate 2008: 4.2 %
2009: 5.6 %
2007:5.2 %
Public debt
(General Government gross
debt as a % GDP) 2008: 11.6%
2009: 17.6%
2010: 22.3 %
Government bond
ratings Standard
& Poor's: AAA-/Stable/A-1+
Moody's rating: Aaa
Moody's outlook: STA
Market value of publicly traded shares US$ 1.258 trillion
Largest
companies in the country : Commonwealth Bank (Banking), BHP
Billiton (Materials), Westpac Banking Group (Banking), Rio Tinto (Materials),
National Australia Bank (Banking), ANZ Banking (Banking), Telstra
(Telecommunications)
Trade & Competitiveness Overview
Total exports US$210.7
billion
Exports commodities coal,
iron ore, gold, meat, wool, alumina, wheat
Total imports US$187.2
billion
Imports commodities machinery and
transport equipment, computers and office machines, telecommunication equipment
and parts, crude oil and petroleum products
Export - major partners Japan 18.9%, China 14.2%, South Korea 8%, US 6%, NZ 5.6%, India
5.5%, UK 4.2%
Import - major partners China 15.5%, US 12.8%, Japan 9.6%, Singapore 5.6%, Germany
5.2%, UK 4.3%, Thailand 4.2%
FDI Inflows 2007: US$45,477 million
2008: US$46,722 million
2009: US$22,572 million
FDI Outflows 2007: US$16,822 million
2008: US$32,819 million
2009: US$ 18,426 million
Best countries for doing business : 10
out of 183 countries
Global competitiveness ranking : 16
(ranking by country on a basis of 133, the first is the best)
Country and Population Overview
Total population :
22.23 million
Total area :
7,692,024 km2
Capital : Canberra
Currency : Australian Dollars (AUD)
Internet
users as % of total population
: 74.00%
Payment history
Purchase Term
Local : Credit 30-60 days, Prepayment
International : Credit 45 days, Prepayment
Sales Term
Local : Credit 30 days
International : Credit 30-45 days
Trade Reference/ Payment Behaviour
Comments : As local and international trade
references were not supplied, the Subject's payment track record history cannot
be appropriately determined but based on our research, payments are believed to
be met without delay.
Investigation Note
Sources : Interviews and material provided by the
Subject
: Other
official and local business sources
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.78 |
|
UK Pound |
1 |
Rs.81.32 |
|
Euro |
1 |
Rs.69.42 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
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NB |
New Business |
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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 and their relative weights (as indicated through
%) are as follows:
Financial condition
(40%) Ownership background
(20%) Payment record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.