MIRA INFORM REPORT
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Report Date : |
16.02.2011 |
IDENTIFICATION DETAILS
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Name : |
KESTREL COAL SALES PTY LTD |
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Formerly Known As : |
Gordonstone Coal
sales P/L |
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Registered Office : |
Level 3 |
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Country : |
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Date of Incorporation : |
29.11.1983 |
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Legal Form : |
Proprietary Company |
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Line of Business : |
sales arm for the Kestrel Coal Mine |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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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 |
REGISTERED NAME
KESTREL COAL SALES PTY
LTD
ACN:010 486 307
ABN: 70 010 486
307
CORPORATE SEARCH
Incorporation Date: 29 NOV 1983
Registered Office
LEVEL 3 WEST TOWER,
QLD 4000
Current Directors Total: 3
PAUL THOMAS O'NEILL – Appointed: 24 JUN 2010
DOZB: 15 NOV 1973
MATTHEW WILLIAM HALLIDAY – Appointed: 01 FEB 2010
6A
DOB: 23 JUL 1976
ANTHONY DAVID MILLER – Appointed: 18 JAN 2008
DOB: 20 SEP 1955
Current Secretaries Total: 1
PAUL MATTHEW BORG – Appointed: 01 MAR 2009
Share Structure - Classes Total: 1
ORD ORDINARY - 2
Share capital
$2
Shareholders Total: 1
ORD 2 - PACIFIC COAL PTY LTD
BUSINESS STRUCTURE
TRADING ADDRESS Level 3
BRISBANE, QLD 4000
TELEPHONE (617) 3361 4200
HOLDING ENTITY
ULTIMATE HOLDING
ENTITY RIO TINTO LTD
BANK Not determined
EMPLOYEES Not determined
BACKGROUND
The subject was incorporated in
OPERATIONS
The subject is believed to operate as the sales arm for the
Kestrel Coal Mine in
Kestrel
Mine, located 40 km north east of Emerald in central
Rio
Tinto Coal
Activities are conducted from premises located at the above listed trading address.
ADVERSE
A search of 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 investigation contact with the subject’s principals was unable to be established. Despite messages being left, no reply has been received.
As a result details pertaining to the subjects operating trading and financial position were unable to be obtained for the current enquiry.
The subject is
believed to operate as the sales arm for the Kestrel Coal Mine in
Kestrel Mine, located 40 km north east of Emerald
in central
In December 2007it was announced that
$US991 million will be spent upgrading the Kestrel coal mine, north-east of
Emerald, that will extend the life of the mine to 2031, with production to
increase to an average of five-point-seven million tonnes a year.
The new long-wall should open in 2012 and
there will be an automated stockpile system and a seven kilometre conveyor to
the coal handling and preparation plant.
The group is a combination of two companies: Rio Tinto plc, based in theUK,
and Rio Tinto Limited, based in
For the year ended 31 December 2009 the Rio Tinto Group Rio Tinto Group recorded revenue of US$44,036,000,000 which resulted in a Net Income of US$5,335 million.
TRADE SURVEY
During the current investigation, contact with the subject’s principals was unable to be established.
Subsequently
details pertaining to the company’s suppliers were unable to be obtained and a
trade survey could not be conducted.
SUMMARY
The subject was incorporated in
The subject is believed
to operate as the sales arm for the Kestrel Coal Mine in
Kestrel Mine, located 40 km north east of
Emerald in central
Rio Tinto Coal
Details pertaining to the subjects operating trading and financial position were unable to be obtained for the current enquiry.
For the year ended 31 December 2009 the Rio Tinto Group Rio Tinto Group recorded revenue of US$44,036,000,000 which resulted in a Net Income of US$5,335 million for the year ended 31 December 2009.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.50 |
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1 |
Rs.73.07 |
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Euro |
1 |
Rs.61.63 |
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 |
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.