MIRA INFORM REPORT
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Report Date : |
24.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
NUFARM LIMITED |
|
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|
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Registered Office : |
103-105 Pipe Road, Laverton North Province Victoria Zip/postal 3026 |
|
|
|
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Country : |
Australia |
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|
|
|
Financials (as on) : |
31.01.2011 |
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|
|
|
Date of Incorporation : |
27.01.2000 |
|
|
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Com. Reg. No.: |
091323312 |
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Legal Form : |
Australian
Public Company |
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Line of Business : |
Manufacturer and sales of crop protection products used by farmers to protect crops from damage caused by weeds, pests and disease |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 11,500,000 |
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Status : |
Good |
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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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
Australia |
a1 |
a1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
Identification details
Verified Address
Subject name : NUFARM LIMITED
Business address : 103–105 Pipe Road
Town :Laverton
North Province : Victoria Zip/postal code : 3026
Country :
Tel : +61 3 92821000
Fax : +61 3 92821001
Website : www.nufarm.com
Registered address : 103-105 Pipe Road
Town :Laverton
North Province : Victoria Zip/postal code : 3026
Country :
Summary details
Executive Summary
Date
founded or registered : 27/01/2000
Legal
form : Australian
Public Company
Chief
executive : Douglas
John Rathbone
Issued
& paid up capital :
AUD 261,833,005
Sales
turnover : AUD
2,168,630,000 (Consolidated 12 months, 31/07/2010)
Net
income :
AUD -22,652,000 (Consolidated 12
months, 31/07/2010)
Total
fixed assets :
AUD 3,093,842,000 (Consolidated 12
months, 31/07/2010)
Line of
business : Manufacturer and sales of crop
protection products used by farmers to protect
crops from damage caused by
weeds, pests and disease.
Staff
employed : 3,195 (Nufarm 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 very good
Organization structure : Organizational structure is consistent
Detrimental : No detrimental records found
Payment history : No payment delays noted
Credit amount suggestion : USD 11,500,000
Credit amount asked : USD 900,000
Comments : Larger credit can still be considered.
Statutory details
Registry Data
Registration date : 27/01/2000
Legal form : Australian Public Company
Registration no : Australian Company Number: 091323312
Registered authority : Australian Securities & Investments Commission
Fiscal/ Tax no : Australian
Business Number : 37091323312
Registry status : Live/Active
Previous name : None reported.
Change of legal form : None reported.
Management / directors
Key Management
Name : Douglas
John Rathbone
Designation : Chief Executive, Managing Director, Executive Director
Name : Brian
Benson
Designation : Group General Manager - Agriculture
Name : Rodney
Heath
Designation : Group General Manager - Corporate Services, Company Secretary
Name : David
Pullan
Designation : Group General Manager - Operations
Name : Robert
Reis
Designation : Group General Manager - Corporate Strategy and External Affairs
Name : Mike
Pointon
Designation : Group General Manager - Innovation and Development
Name : Bonita
Croft
Designation : Group Executive HR & Organisation Development
Name : Dale
Mellody
Designation : Group General Manager - Global Marketing; President,
Name : Paul Binfield
Designation : Chief Financial Officer
Name : Nathan Morrison
Designation : Group Treasurer
Board of directors / other
appointments
Appointments
Name : Douglas
John Rathbone
Designation : Chief Executive, Managing Director, Executive Director
Appointment date : 21/08/87
Address :
Essendon, VIC 3040
Biography : Born
on 03-11-1945 in
Mr. Douglas
John Rathbone, AM is Chief Executive, Managing Director and Executive Director
of Nufarm Limited. His background is chemical engineering and commerce and he
has worked for Nufarm Australia Ltd for 37 years. Doug was appointed managing
director of Nufarm
Name : William
Bruce Goodfellow
Designation : Non-Executive Non-Independent Director
Appointment date : 15/02/91
Address :
1050
Biography : Born
on 30-11-1951 in
Dr. William
Bruce Goodfellow, Ph.D., serves as Non-Executive Non-Independent Director of Nufarm
Ltd. He joined the board representing the holders of the ‘C’ shares in 1991.
Following the conversion of the ‘C’ shares into ordinary shares, he was elected
a director in 1999. He has a doctorate in chemical engineering and experience
in the chemical trading business and financial and commercial business
management experience. He is chairman of Refrigeration Engineering Co Ltd and a
director of Sanford Ltd, Sulkem Co Ltd, and Cambridge Clothing Co Ltd.
Name : John
Stocker
Designation : Non-Executive Independent Director
Appointment date : 08/10/98
Address :
Biography : Born
on 23-04-1945 in
Dr. John Wilcox
Stocker, Ph.D., AO, is Non-Executive Independent Director of Nufarm Limited. He
has a medical, scientific and management background and was formerly chief
scientist of the Commonwealth of Australia and formerly the chairman of CSIRO.
He is a principal of Foursight Associates Pty Ltd and is a director of Telstra
Corporation Ltd. In the past three years John has been chairman of Sigma
Pharmaceuticals Ltd (four years) and a director of Sigma Company Ltd (eight
years), Cambridge Antibody Technology Group plc (11 years) and Circadian
Technologies Ltd (12 years). He is a member of the audit committee.
Name : Donald
Gordon McGauchie
Designation : Non-Executive Independent Chairman of the Board
Appointment date : 19/12/03
Address :
Prairie, VIC 3572
Biography : Born
on 11-02-1950 in
Mr. Donald G. McGauchie, AO is Non-Executive Independent
Chairman of the Board of Nufarm Limited. He joined the board
in
2003
and was appointed chairman on 13 July 2010. He has wide
commercial
experience within the food processing, commodity trading, finance and
telecommunication sectors. He also has public policy experience, having
previously held several high-level advisory positions to the government
including the Prime Minister’s Supermarket to Asia Council, the Foreign Affairs
Council and the Trade Policy Advisory Council. Donald is chairman of Australian
Agricultural Company Ltd. He is a director of James Hardie Industries SE and
Graincorp Ltd. In the past three years Donald has been a director of Telstra
Ltd (11 years). Donald is chairman of the nomination committee (effective 28
September 2010) and a member of the remuneration committee.
Name : Garry
Hounsell
Designation : Non-Executive Independent Director
Appointment date : 01/10/04
Address :
Toorak, VIC 3142
Biography : Born
on 21-11-1954 in
Mr. Garry
Arthur Hounsell, CPA, is Non-Executive Independent Director of Nufarm Limited.
He has a bachelor of business (accounting) and is a former senior partner with
Ernst & Young and a former Australian country-managing partner with Arthur
Andersen. He has experience across a range of areas, relating to management and
corporate finance and has worked with some of Australian companies in
consulting and audit roles, with a particular emphasis in the manufacturing
sector. Garry is chairman of Pan Aust Ltd and deputy chairman of Mitchell
Communication Group Ltd and a director of Qantas Airways Ltd, Orica Ltd and
Dulux Group Ltd. He is chairman
of the audit committee.
Name : Robert
John Edgar
Designation : Non-Executive Independent Director
Appointment date : 01/07/09
Address :
Biography : Born
on 25-05-1946 in
Dr. Robert John Edgar is Non-Executive Independent Director
of Nufarm Limited. He joined the board on 1 June 2009. He holds a bachelor of
economics (hons) from
committee (effective 28 September 2010) and a member of the audit committee.
Name : Anne Bernadette Brennan Designation : Non-Executive Director Appointment date : 10/02/11
Address :
South Coogee, NSW 2034
Biography : Born
on 22-09-1960 in Castlebar,
Ms. Anne
Bernadette Brennan serves as Non-Executive Director of Nufarm Ltd on February
10, 2011. She has over 25 years in senior finance roles and in professional
accounting firms. She was formerly the Executive Finance Director for the
Coates Group and Chief Financial Officer for CSR. She has experience in
financial management, treasury, audit, risk management, tax, investor relations
and ASX and statutory reporting. She currently holds
non-executive
directorships with Myer Limited, Charter Hall Group and Cuscal Limited. She is
also a Director of the Australian Ireland Fund and a Councillor of the
Australian Institute of Company Directors (NSW).
Name : Gordon
Richard Davis
Designation : Director
Appointment date : 31/05/11
Address :
Hawthorn, VIC 3122
Biography : Born
on 16-07-1956 in
Gordon Davis
joined the Board in May, 2011. Gordon was Managing Director of major Australian
agribusiness company AWB Limited between 2006 and 2010. Prior to this, he held
various senior executive positions with Orica, including general manager of
Orica Mining Services (
Name : Rodney Heath
Designation : Company Secretary
Appointment date : 27/01/00
Address :
Biography : Born
on 10-03-1953 in
Mr. Rodney
Heath is Group General Manager - Corporate Services
and Company
Secretary of Nufarm Limited. He has a bachelor of law and joined the company in
1980, initially as legal officer, later becoming assistant company secretary.
In 1989, Rod moved from
Staff employed : 3,195
(Nufarm Group)
Key Advisors
Auditors : KPMG
Melbourne, VIC 3000
Solicitors : ARNOLD BLOCH LEIBLER & CO
Melbourne, VIC 3000
SYLVIA MILLER & ASSOCIATES
Elsternwick, VIC 3185
Share capital
Composition
Authorized Capital : AUD 261,833,005
No of shares : 261,833,005 Ordinary Shares
Share par value : AUD 1
Issued capital : AUD 261,833,005
Paid up capital : AUD 261,833,005
ownership / shareholders
How listed : Major Shareholders Only
Composition
Shareholder name : SUMITOMO CHEMICAL COMPANY, LIMITED
Address : Tokyo Sumitomo Twin Building (East)
27-1, Shinkawa 2-chome
Chuo-ku, Tokyo 104-8260
Japan
No. of shares : 52,355,146 Ordinary Shares
% of shares : 20%
Shareholder name : HSBC CUSTODY NOMINEES (AUSTRALIA) LIMITED
Address : 580 George Street
Sydney, NSW 2000
Australia
No. of shares : 36,193,532 Ordinary Shares
% of shares : 13.83%
Shareholder name : NATIONAL NOMINEES LIMITED
Address : 23 Hunter Street
Sydney, NSW 2000
Australia
No. of shares : 21,675,117 Ordinary Shares
% of shares : 8.28%
Shareholder name : JP MORGAN NOMINEES AUSTRALIA LIMITED
Address : Level 32, 225 George Street
Sydney, NSW 2000
Australia
No. of shares : 18,040,384 Ordinary Shares
% of shares : 6.89%
Shareholder name : FALLS CREEK NO 2 PTY LTD
Address : Unit 4, 31 Sabre Drive
Port Melbourne, VIC 3207
Australia
No. of shares : 15,216,590 Ordinary Shares
% of shares : 5.81%
Shareholder name : AMALGAMATED DAIRIES LIMITED
Address : 40-42 Anzac Avenue
Auckland
New Zealand
No. of shares : 14,330,798 Ordinary Shares
% of shares : 5.47%
Shareholder name : CITICORP NOMINEES PTY LIMITED
Address : Level 5, 120 Collins Street
Melbourne, VIC 3000
Australia
No. of shares : 9,877,116 Ordinary Shares
% of shares : 3.77%
Comments The Subject is listed on the Australian Stock Exchange with the symbol 'NUF'.
The Subject is owned by approximately 16,730 shareholders.
Related companies & corporate Affiliations
Structure
Name : NUFARM AUSTRALIA LTD
Affiliation type : Wholly-owned Subsidiary
Address : 103-105 Pipe Road
Laverton North, VIC 3026
Australia
Name : CROP CARE AUSTRALASIA PTY LTD
Affiliation type : Wholly-owned Subsidiary
Address : Portal North, 15/16 Metroplex Avenue
Murarrie, QLD 4172
Australia
Name : NUFARM S.A.
Affiliation type : Wholly-owned Subsidiary
Address : Edificio Panamericana Plaza
Tronador 4890 – Piso 14
(C1430DNN) Ciudad Autonoma de Buenos Aires Republica Argentina
Name : NUFARM DO BRASIL LTDA.
Affiliation type : Wholly-owned Subsidiary Address : Rua Samuel Morse, 74
15º andar, Cj. 152. Brooklin
São Paulo-SP. Cep: 04.576-060
Brazil
Name : NUFARM CHEMICAL (SHANGHAI) CO., LTD.
Affiliation type : Wholly-owned Subsidiary
Address : 17N, International Shipping & Finance Building
720 Pudong Ave
Shanghai 200120
China
Name : NUFARM ASIA SDN BHD
Affiliation type : Wholly-owned Subsidiary
Address : L2.03 Wisma BU8
No. 11, Lebuh Bandar Utama
Bandar Utama, 47800 Petaling Jaya
Selangor Darul Ehsan
Malaysia
Name : CROPLANDS EQUIPMENT LTD
Affiliation type : Wholly-owned Subsidiary
Address : 1422 Omahu Road
Hastings 4120
New Zealand
Name : NUFARM ESPAÑA S.A.
Affiliation type : Wholly-owned Subsidiary
Address : C/ Balmes, 200, 1o 4a
Barcelona 08006
Spain
Name : NUFARM UK LTD
Affiliation type : Wholly-owned Subsidiary
Address : Wyke Lane
Wyke
Bradford
West Yorkshire BD12 9EJ United Kingdom
Name : NUFARM AMERICAS INC.
Affiliation type : Wholly-owned Subsidiary
Address : 150 Harvester Drive, Suite 200
Burr Ridge, IL 60527
United States of America
Related companies and corporate affiliations comments
Other companies of the Nufarm Group should be considered affiliates of the Subject. We are unable to list all the associated companies within the group therefore we have enclosed an attachment to this report.
Bank & mortgages
Bank Details
Name of bank : National Australia Bank Limited
Address :
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 : ASIC Charge Number: 2052021
Date
Registered: 27-09-2010
Charge type: Both Fixed & Floating
Date Created: 27-09-2010
Chargees Name: NATIONAL AUSTRALIA BANK LIMITED
ASIC Charge Number: 2052039
Date Registered: 27-09-2010
Charge type: Both Fixed & Floating
Date Created: 27-09-2010
Chargees Name: NATIONAL AUSTRALIA BANK LIMITED
ASIC Charge Number: 2151149
Date Registered: 23-03-2011
Charge type: Both Fixed & Floating
Date Created: 15-03-2011
Chargees Name: NATIONAL AUSTRALIA BANK LIMITED
ASIC Charge Number: 2210573
Date Registered: 27-07-2011
Charge type: Both Fixed & Floating
Date Created: 16-05-2011
Chargees Name: NATIONAL AUSTRALIA BANK LIMITED
On 15 December
2010, the company executed a $900 million 12 month secured financing facility
with four major financial institutions. The amount drawn down under the
facility was $798 million. This amount was used to repay borrowings under the
previous negative pledge financing arrangement.
The key aspects of the facility are as follows:
a) a separate
$300 million receivables securitisation facility that will be used to repay
debt under the 15 December facility;
b) a fixed and
floating charge over all assets of the Australian,
c) compliance
with covenants of a type normally associated with facilities of this kind.
The group has
agreed that the maximum net indebtedness, including this facility and all other
drawn banking facilities, will not exceed $1.1 billion and that off balance
sheet leasing obligations will remain below agreed levels. Total net debt at 31
January 2011 was $649.2 million (2010: $1,031.6 million).
Legal Fillings
Bankruptcy fillings :
None reported.
Court judgements :
None reported.
Tax liens : None reported.
Others : None reported.
financials
Description
Source of financial statement : Public
Record Sources
Financial statement date : 31/01/11
Type of accounts : Full audited
Currency :
Exchange rate : 1 USD = AUD 1.02 as of 23-09-2011
Summarized Financial Information
|
Consolidation
type : |
Consolidated |
Consolidated |
Consolidated |
|
Currency : |
Australia Dollar ( AUD) |
Australia Dollar (AUD) |
Australia Dollar (AUD) |
|
Denomination : |
(x1) One |
(x1) One |
(x1) One |
|
Date of
financial year end : |
31/01/11 |
31/07/10 |
31/07/09 |
|
Length of
accounts : |
6 months |
12 months |
12 months |
|
|
900,588,000 |
2,168,630,000 |
2,677,083,000 |
|
Gross profit : |
235,344,000 |
469,913,000 |
555,637,000 |
|
Operating profit : |
30,719,000 |
66,170,000 |
151,464,000 |
|
Profit before
tax : |
1,800,000 |
12,717,000 |
58,957,000 |
|
Net income : |
4,381,000 |
-22,652,000 |
80,542,000 |
|
Non current
assets : |
1,373,443,000 |
1,448,545,000 |
1,533,169,000 |
|
Current assets : |
1,881,806,000 |
1,645,297,000 |
1,718,428,000 |
|
Inventories : |
646,002,000 |
553,432,000 |
797,383,000 |
|
Total assets : |
3,255,249,000 |
3,093,842,000 |
3,251,597,000 |
|
Current
liabilities : |
1,474,181,000 |
1,227,690,000 |
1,092,316,000 |
|
Non current
liabilities : |
111,561,000 |
116,261,000 |
527,342,000 |
|
Total
liabilities : |
1,585,742,000 |
1,343,951,000 |
1,619,658,000 |
|
Share equity : |
1,669,507,000 |
1,749,891,000 |
1,631,939,000 |
|
Reserve : |
-151,547,000 |
-71,704,000 |
-13,006,000 |
|
Retained earning : |
514,576,000 |
515,242,000 |
584,348,000 |
Comments : The consolidated financial information
above relates to the Subject and all its consolidated subsidiaries.
The Subject announced that they will report fiscal year 2011 results on Sep 28, 2011
Operation details
Main activities :
The Subject operates as manufacture and
supplier of agricultural chemicals used by farmers to protect crops from damage
caused by weeds, pests and disease. Subject has production and marketing
operations throughout the world and sells products worldwide. The major markets
include Australasia, Europe, North America and
Product & services : Agricultural chemicals
Specialty chemicals
Glyphosate
Diuron
Insecticides
Plant nutrition
Herbicides
Fungicides
Seeds and seed treatment
Fertilisers
Brand : NUFARM NUTURF
Purchases
Local : Yes
International : Worldwide
Sales
Local : Yes
International : Worldwide
Key events : 23 Sep 2011 Nufarm Step-up Securities
Update
Nufarm Limited
confirmed today that it will 'step up' the Nufarm Step-up Securities (NSS).
This will result in the interest margin attached to the NSS being stepped up by
2.0%, with the new interest margin being set at 3.9%, from the next
distribution date as at November 24, 2011. No other terms
will be adjusted and there are no further step-up dates.
12 Sep 2011 Nufarm settles receivables dispute
Nufarm Limited
announced today that it has executed a binding settlement agreement in relation
to a long-running dispute relating to a past receivable.
23 Aug 2011
Documentation executed on securitisation facility Nufarm Limited confirms that
the principal transaction documentation associated with a $300 million trade
receivable securitisation facility has now been executed. Details of the
facility were disclosed in a company announcement on August 9, 2011.
10 Aug
2011 Nufarm and Rabobank agree final terms on $300m Global
Securitisation Facility
Nufarm Limited and Rabobank have agreed structure and terms on a
$300 million trade receivable securitisation facility, representing an
important first step in the refinancing of Nufarm's total debt facilities.
Transaction documentation associated with the facility is expected to be
executed during the course of next week.
04 Jul 2011 Nufarm appoints new CFO
Nufarm Limited announced today that Paul Binfield has been
appointed
Chief Financial Officer.
15 Jun 2011 Disputed receivable update
In an
announcement on May 26, 2011, Nufarm advised that an ongoing dispute relating
to a claim was the subject of confidential discussions aimed at reaching a
compromise between the parties.
31 May 2011 Nufarm appoints new non-executive director
Nufarm Limited
today announced the appointment of Gordon Davis as a non-executive director of
the company. Mr Davis' nomination was approved by a meeting of the Nufarm Board
today and his appointment takes immediate effect.
26 May 2011 Receivables dispute
As disclosed in
Nufarm's relevant financial statements, the company and a major supplier have
been in dispute about certain claims referable to the 2009, 2010 and 2011
financial years.
20 May 2011 Fatality at Laverton manufacturing site
Nufarm Limited
said today that it is co-operating with the relevant authorities to fully
investigate the circumstances surrounding yesterday's death of a worker at the
company's Laverton North manufacturing site.
10 May 2011 Doug Rathbone share sale to Sumitomo
Nufarm
Limited's Chief Executive Officer, Doug Rathbone, has informed the company that
he and associated entities have sold 4.5 million Nufarm shares to Sumitomo
Chemical Company (Sumitomo) in an on-market transfer executed before the
opening of trading on the Australian Stock Exchange today.
23 Mar 2011 Nufarm confirms interim profit guidance and
announces CFO
transition
Following a
meeting of Nufarm Limited's Audit Committee today, the company has confirmed
that its operating profit result (net profit after tax before material items)
for the six month period to January 31, 2011, will be slightly above the
previous $10 million to $20 million guidance provided by the company.
The final
accounts for the interim period will be considered by a Nufarm Board meeting on
Monday, March 28, before being released later that day. The company also
announced today that Nufarm Limited's Chief Financial Officer, Kevin Martin,
has advised the company that he is stepping down from his position at the end
of March.
15 Mar 2011
Nufarm and Sumitomo Chemical execute a framework agreement for new product
development Nufarm Limited and Sumitomo Chemical Company Limited have
entered
into a
framework agreement to cooperate on the development of new formulations and
mixtures of crop protection products from both companies.
25 Feb 2011 Group Treasurer announced
Nufarm Limited today announced the appointment of a new
Group
Treasurer.
Nathan Morrison
– who joins the company from PwC - will commence in this new senior finance
position (reporting to Chief Financial Officer, Kevin Martin) in late March.
10 Feb 2011 Nufarm appoints new non-executive director
Nufarm Limited
today announced the appointment of Anne Brennan as a non-executive director of
the company. Ms Brennan's nomination was approved by a meeting of the Nufarm
Board today and her appointment takes immediate effect.
17 Jan 2011 Company Announcement re Second Class Action Proceeding
Earlier this afternoon, applicants represented by Maurice Blackburn served a
class action proceeding on Nufarm Limited. The proceeding was filed on
24 December
2010 but was not served on Nufarm Limited until today. Nufarm Limited denies
any and all allegations of wrongdoing, and will defend the proceedings
vigorously.
17 Jan 2011 Company Announcement re Class Action Proceedings
Late on Friday
14 January, applicants represented by Slater & Gordon filed and served
class action proceedings on Nufarm Limited.
Nufarm Limited
denies any and all allegations of wrongdoing, and will defend the proceedings
vigorously.
History : Nufarm was established in
The company moved to its present head office location at
Laverton North in
1972, with the
corporate headquarters located adjacent to Nufarm's largest manufacturing
facility.
From the mid
1980s until early 2000, Nufarm was a subsidiary of
In 2000, Fernz
migrated the incorporation of the company from
Various
acquisitions and solid organic growth have seen the business rapidly expand.
Nufarm is now ranked the 9th largest crop protection company in the world, with
a clear leadership position in
Property & Assets
Premises : The Subject operates from group
headquarters located at the verified heading address consisting of production
facilities, warehouse and administrative office.
Branches : In addition, the Subject has
manufacturing plants in 14 countries worldwide.
Summarized country risk
Gross Domestic
Products (GDP) & Economic Overview
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%
2010 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 Services)
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%,
5.5%,
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 : Cash against document, Prepayment,
Credit up to 120 days
International : L/C,
Telegraphic transfer, Credit up to 120 days
Sales Term
Local : Cash against document, Prepayment,
Credit up to 120 days
International : L/C,
Prepayment, Credit up to 120 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
:
Official and local business sources
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.62 |
|
UK Pound |
1 |
Rs.76.68 |
|
Euro |
1 |
Rs.66.47 |
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 |
|
---- |
NB |
New Business |
---- |
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.