MIRA INFORM REPORT
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Report Date : |
15.12.2011 |
IDENTIFICATION DETAILS
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Name : |
HYDAC PTY LTD |
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Registered Office : |
C/O
Whiteside Andrews, Unit 1a, 88 Maroondah Highway, Ringwood , Victoria,
Zip/postal code 3134 |
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Country : |
Australia |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
10.02.1997 |
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Com. Reg. No.: |
077434390 |
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Legal Form : |
Australian
Proprietary Company |
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Line of Business : |
Distributor of
hydraulic equipment and machinery |
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No. of Employees : |
60 employees (Subject); 5,000 employees (Hydac Group) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 220,000 |
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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) |
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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 |
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 : HYDAC PTY LTD
Business address : 109-111 Dohertys Road
Town : Altona North
Province : Victoria
Zip/postal
code : 3025
Country : Australia
Tel : +61 3 92728900
Fax : +61 3 92728999
Email : info@hydac.com.au
Website : www.hydac.com.au
Registered address : C/o WHITESIDE ANDREWS
Unit 1A, 88 Maroondah Highway
Town : Ringwood
Province : Victoria
Zip/postal
code : 3134
Country : Australia
Postal
address : P.O. Box 224
Town : Altona
North
Province : Victoria
Zip/postal
code : 3025
Country : Australia
Summary details
Executive Summary
Date founded or
registered : 10/02/1997
Legal form : Australian Proprietary Company
Chief executive : Mark Graeme Keen
Issued & paid up
capital : AUD 500,000
Sales turnover : GBP 116,459,006 (Group consolidated 12
months, 31/12/2010)
Net income : GBP 10,030,216 (Group consolidated 12
months, 31/12/2010)
Total fixed assets : GBP 68,495,237 (Group consolidated 12
months, 31/12/2010)
Line of business : Distributor of hydraulic equipment and
machinery.
Staff employed : 60 employees (Subject); 5,000 employees
(Hydac Group
Credit risk opinion
Company Analysis
Country risk : Country risk is minimal
Operation trend : Operational trend is steady
Management experience : Management is adequately experienced
Financial performance : Financial performance is good
Organization structure : Organizational structure is stable
Detrimental : No detrimental records found
Payment history : No payment delays noted
Credit amount suggestion : USD 220,000
Credit amount asked : USD 10,000
Comments : Larger credit can still be considered.
Statutory details
Registry Data
Registration date : 10/02/1997
Legal form : Australian Proprietary Company
Registration no Australian
Company Number: 077434390
Registered authority : Australian Securities & Investments
Commission
Fiscal/ Tax no : Australian Business Number: 52077434390
Registry status : Live/Active
Previous name : None reported.
Change of legal form : None reported.
Management / directors
Key Management
Name : Mark Graeme Keen
Designation : Managing Director
Name : Craven Cheng
Designation : Financial Manager
Board of directors / other
appointments
Appointments
Name : Werner Dieter
Designation : Director
Appointment date : 11/07/97
Address : C/o HYDAC INTERNATIONAL GmbH Industriegebiet
66280 Sulzbach/Saar
Germany
Biography : Born on 23-09-1929 in Stuttgart, Germany.
Name : Gary Andrews
Designation : Director
Appointment date : 10/02/97
Address : 42 Durham Road
Surrey Hills, VIC 3127
Australia
Biography : Born on 31-08-1939 in Manangatang, Victoria, Australia.
Name : Graham Roy Whiteside
Designation : Director and Company Secretary
Appointment date : 10/02/97
Address : 117 Wonga Road
Ringwood North, VIC 3134
Australia
Biography : Born on 16-03-1946 in Melbourne, Victoria, Australia.
Name : Mark Graeme Keen
Designation : Director
Appointment date : 01/07/06
Address : 7 Riverside Quay
Southbank, VIC 3006
Australia
Biography : Born on 30-06-1958 in Sydney, New South Wales, Australia.
Staff employed : 60 employees (Subject); 5,000 employees (Hydac Group)
Share capital
Composition
Authorized Capital : AUD 500,000
No of shares : 500,000 Ordinary Shares
Share par value : AUD 1
Issued capital : AUD 500,000
Paid up capital : AUD 500,000
ownership / shareholders
How listed : Full List
Composition
Shareholder name : HYDAC LIMITED
Address : 5 Station Road
Beaconsfield HP9 1QL Buckinghamshire United Kingdom
No. of shares : 500,000 Ordinary Shares
% of shares : 100%
Related companies & corporate Affiliations
Structure
Name : HYDAC LIMITED
Affiliation type : Parent Company
Address : 5 Station Road
Beaconsfield HP9 1QL Buckinghamshire United Kingdom
Name : HYDAC INTERNATIONAL GMBH
Affiliation type : Sister Company
Address : Industriegebiet
66280 Sulzbach/Saar
Germany
Name : HYDAC TECHNOLOGY CORPORATION
Affiliation type : Sister Company
Address :
445 Windy Point Drive
Glendale Heights, IL 60139
United States
Name : HYDAC (INDIA) PRIVATE LIMITED
Affiliation type : Sister Company
Address : Hydac House, A-58, T. T. C. Industrial Area MIDC, Mahape
Navi Mumbai 400 701
Maharashtra
India
Name : HYDAC TECHNOLOGY SDN. BHD.
Affiliation type : Sister Company
Address : 16, Jalan Pengacara U1/48
Temasya Industrial Park
Shah Alam 40150
Selangor Darul Ehsan
Malaysia
Name : HYDAC TECHNOLOGY PTE LTD
Affiliation type : Sister Company
Address : 2A Second Chin Bee Road
Singapore 618781
Singapore
Name : HYDAC B.V.
Affiliation type : Sister Company
Address : Postbus 447
5700 AK Helmond
Vossenbeemd 109
5705 CL Helmond
Netherlands
Name : HYDAC FLUIDTEKNIK AB
Affiliation type : Sister Company
Address : Domnarvsgatan 29
163 53 Spånga
Sweden
Name : HYDAC TECHNOLOGY (PTY) LTD
Affiliation type : Sister Company
Address : 165 Van der Bijl Street
Edenvale 1614
Johannesburg
South Africa
Name :
HYDAC TECNOLOGIA LTDA
Affiliation type : Sister Company
Address : Estrada
Fukutaro Yida, 225
São Bernardo do Campo - SP - CEP
09852-060, brazil
Related companies
and corporate affiliations comments
Other companies of the Hydac Group should be considered affiliates of the Subject.
Bank & mortgages
Bank Details
Name of bank : Commonwealth
Bank Of Australia
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 : None
reported.
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 : 31/12/10
Type of accounts : Full audited
Currency : United Kingdom, Pound (GBP)
Exchange rate : 1 USD = GBP 0.64 as of 14-12-2011
Summarized Financial Information
Consolidation type : Group Consolidated Group
Consolidated
Currency : United Kingdom, Pound United Kingdom, Pound
(GBP) (GBP)
Denomination : (x1) One (x1) One
Date of financial year end : 31/12/10 31/12/09
Length of accounts : 12 months 12 months
Sale turnover / Income : 116,459,006 83,614,997
Gross profit : 42,560,819 30,590,750
Operating profit : 15,737,369 8,638,083
Profit before tax : 15,880,965 8,783,558
Net income : 10,030,216 6,516,515
Non current assets : 13,661,452 10,109,679
|
Current assets : |
54,833,785 |
44,658,136 |
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Inventories : |
16,441,590 |
13,157,029 |
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Total assets : |
68,495,237 |
54,767,815 |
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Current liabilities : |
14,569,477 |
8,612,103 |
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Non current
liabilities : |
262,649 |
256,350 |
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Total
liabilities : |
16,060,335 |
9,069,554 |
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Share equity : |
52,434,902 |
45,698,261 |
Comments : The group’s consolidated financial
information above relates to the Subject’s Parent Company
Hydac Limited and all its subsidiaries which include the Subject.
Operation details
Main activities : The Subject is engaged in import and
distribution of f hydraulic equipment and machinery, fluid systems, cooler
products etc.
Product & services : Hydraulic Filtration, Process Filter,
Filter Systems, Hydraulic Accumulators, Accumulator Hydraulic Oil Cooler,
Hydraulic Air Cooler, Hydraulic
Accessories, Hydraulics, Oil Condition Monitoring, Electronics, Pressure
Transducers, Hydraulic Particle Counters,
Hydraulic Power Units, Fluid Service, Oil & Gas Hydraulics, Offshore
Hydraulics, Bladder Accumulators, Piston Accumulators, Industrial Filters,
Temperature Sensor, Hydraulic Filter, Hydraulic Pumps, Oil Analysis, Solenoid Valves, Control Valves, Diapragm
Accumulators, Replacement Filter Element,
Hydraulic Fittings, Offline Filter, Hydraulic Cylinders, Oil Cooler, Air
Cooler, Hydraulic Engineering, Heat Exchanger,
Particle Counter, Particle Sensor, Hydraulic Power Unit, Mobile
Hydraulic Systems, Hydraulic Training, Hydraulic Courses
Purchases
International : Europe, United States, Asia
Sales
Local : Yes
International : New Zealand
Property & Assets
Premises : The Subject operates from premises located at the verified heading address consisting of
warehouse and administrative office.
Branches : In addition, the Subject operates from branch offices located at:
Unit 2, 26 Crockford Street
Banyo, QLD 4014
Australia
Tel: +61 7 36344500
Unit 1, 3 Bosci Road
Ingleburn, NSW 2565
Australia
Tel: +61 2 87955800
42 Millrose Drive
Malaga, WA 6090
Australia
Tel: +61 8 92417000
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 : Prepayment, Credit up to 90 days
International : L/C, Credit up to 90 days
Sales Term
Local : Prepayment, Credit up to 90 days
International : L/C, Credit up to 90 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.53.58 |
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UK Pound |
1 |
Rs.82.97 |
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Euro |
1 |
Rs.69.89 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<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.