MIRA INFORM REPORT
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Report Date : |
01.08.2012 |
IDENTIFICATION DETAILS
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Name : |
AUSCOTT MARKETING PTY LTD |
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Registered Office : |
Level 3, 56 Pitt
Street, Sydney, New South Wales 2000 |
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Country : |
Australia |
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Date of Incorporation : |
26.07.1985 |
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Com. Reg. No.: |
002970667 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Marketing and distribution
of cotton, wheat, chekipeas, cotton feed etc. |
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No. of Employees
: |
250 employees
(Auscott 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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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 |
Verified Address
Subject name : AUSCOTT MARKETING PTY LTD
Business address : Level 3, 56 Pitt Street
Town : Sydney
Province : New South Wales
Zip/postal code : 2000
Country : Australia
Tel : +61 2 92954800
Fax : +61 2 92954888
Email : marketing@auscott.com.au.
Website : www.auscott.com.au
Registered address
: Level 3, 56 Pitt Street
Town : Sydney
Province : New South Wales
Zip/postal code : 2000
Country : Australia
Executive Summary
Date founded or
registered : 26/07/1985
Legal form : Australian
Proprietary Company
Chief executive : David Thomas William
Anthony
Issued & paid
up capital : AUD 250,000
Sales turnover : AUD 123,159,000
(Group Consolidated 12 months, 30/06/2011)
Line of business : Marketing and distribution
of cotton, wheat, chekipeas, cotton feed etc.
Staff employed : 250 employees
(Auscott Group)
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
asked : Not described.
Registry Data
Registration date :
26/07/1985
Legal form :
Australian Proprietary Company
Registration no
Australian Company number :
002970667
Registered
authority :
Australian Securities and Investments Commission
Fiscal/ Tax no :
Australian Business Number :
47002970667
Registry status :
Live/Active
Previous name :
TAPORU PTY LTD (initial)
Change of legal
form :
None reported.
Key Management
Name : David
Thomas William Anthony
Designation : Chief Executive
Officer
Appointments
Name : James
Walter Boswell
Designation : Director
Appointment date : 19/07/90
Address : 4911
Hillard Avenue
La Cañada Flintridge, CA 91011
United States
Biography : Born on
01-05-1952 in Phoenix, Arizona, United States.
Name : Richard
Sherman Railsback
Designation : Director
Appointment date : 16/08/93
Address : 4110 Forest
Hill Drive
La Cañada Flintridge, CA 91011
United States
Biography : Born on
01-02-1950 in Hanford, California, United States.
Name : David
Thomas William Anthony
Designation : Director
Appointment date : 20/04/00
Address : 50 Eastern
Road
Turramurra, NSW 2074
Australia
Biography : Born on
12-09-1953 in Sydney, New South Wales, Australia.
Name : Desmond
Raymond Boucher
Designation : Director and
Company Secretary
Appointment date : 25/08/03
Address : Unit 1, 155
Annandale Street
Annandale, NSW 2038
Australia
Biography : Born on
16-05-1952 in Pietermaritzburg, South Africa.
Name : Harvey
John Gaynor
Designation : Director
Appointment date : 21/03/12
Address : C/o
AUSCOTT LIMITED
"Midkin" Mungindi Road
Moree, NSW 2400
Australia
Biography : Born on
27-10-1964 in Sydney, New South Wales, Australia.
Name : Ashley
Gerard Power
Designation : Director
Appointment date : 21/03/12
Address : 61 Rowland
Road
Bowral, NSW 2576
Australia
Biography : Born on
09-03-1963 in Swan Hill, Victoria, Australia.
Name : Leane
Maree Ameneiro
Designation : Company
Secretary
Appointment date : 25/08/03
Address : 16 Ogilvie
Street
East Hills, NSW 2213
Australia
Biography : Born on 12-06-1965
in Marrickville, New South Wales, Australia.
Staff employed : 250 employees
(Auscott Group)
Auditors : ERNST &
YOUNG
321 Kent Street
Sydney, NSW 2000
Australia
Composition
Authorized Capital
: AUD 250,000
No of shares : 250,000 Ordinary
Shares
Share par value : AUD 1
Issued capital : AUD 250,000
Paid up capital : AUD 250,000
How listed : Full List
Composition
Shareholder name : AUSCOTT LIMITED
Address : Level 3, 56
Pitt Street
Sydney, NSW 2000
Australia
No. of shares : 250,000 Ordinary
Shares
% of shares : 100%
Structure
Name : J.G.
BOSWELL COMPANY
Affiliation type : Ultimate Holding
Company
Address : 101 West
Walnut Street
Pasadena, CA 91103
United States
Comments :
J.G. Boswell grows and mills cotton in California's San Joaquin Valley. The
secretive company is the country's largest cotton producer. About one-third of
its 150,000 California acres are devoted to cotton. It was once said that the
company produced enough cotton in one year to produce 840,000 pairs of boxer
shorts. Indeed, Boswell's customers include textile makers worldwide. The
company also grows tomatoes and a lot of them. One of the nation's largest
tomato growers, it produced some 1 million pounds of tomatoes in 2008.
Boswell's other smaller
crops include wheat, sunflowers, and safflowers. Chairman emeritus James
G. Boswell II died in 2009 at the age of 86.
Name : AUSCOTT
LIMITED
Affiliation type : Parent Company
Address : Level 3, 56
Pitt Street
Sydney NSW 2000
Australia
Comments :
Auscott Limited is a fully integrated producer, processor and marketer of cotton
as well as a producer of wheat and other crops, mostly grown in rotation with
cotton. The company developed its operations over three valleys in New South
Wales ensuring geographical diversification which is so important in spreading
the risk on crop management. Auscott operates a total of five gins in the
Gwydir, Macquarie and Namoi Valleys, processing cotton for other growers as
well as its own crop. It was the first processor to undertake custom ginning of
cotton purchased by independent merchants.
Name : AUSCOTT
PROPERTIES LIMITED
Affiliation type : Sister Company
Address : Level 3, 56
Pitt Street
Sydney NSW 2000
Australia
Name : AUSCOTT
GROUP FINANCE PTY LIMITED
Affiliation type : Sister Company
Address : Level 3, 56
Pitt Street
Sydney NSW 2000
Australia
Bank Details
Name of bank : National Australia
Bank
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.
Description
Source of
financial statement : External
Sources
Financial
statement date : 30/06/11
Type of accounts : Key figures
Currency : Australia
Dollar (AUD)
Exchange rate : 1 USD = AUD 0.95 as
of 31-07-2012
Summarized Financial Information
Consolidation type
: Group Consolidated
Currency : Australia
Dollar (AUD)
Denomination : (x1) One
Date of financial
year end : 30/06/11
Length of accounts
: 12 months
Sale turnover /
Income : 123,159,000
Comments :
The group’s consolidated key financial information above relates to the Subject’s
Parent Company Auscott Limited and all its subsidiaries which include the
Subject.
Main activities :
The Subject is the marketing arm for the Auscott Limited group operations in
Australia. The Subject is engaged in marketing and distribution of cotton,
wheat, chekipeas, cotton feed etc.
Purchases
Local : Yes
International : None reported.
Sales
International : Asia
Property & Assets
Premises : The Subject operates
from premises located at the verified heading
address consisting of an administrative office.
Branches : In addition,
the Subject operates from group branch offices located at:
Artarmon Office
Unit 4, 43 Herbert Street
Artarmon, NSW 2064
Australia
Telephone: +61 2 94390514
Fax: +61 2 94398559
Narrabri Office
Wee Waa Road
Narrabri, NSW 2390
Australia
Telephone: +61 2 67991400
Fax: +61 2 67991488
Moree Office
"Midkin" Mungindi Road
Moree, NSW 2400
Australia
Telephone: +61 2 67591700
Fax: +61 2 67591788
Warren Office
Oxley Highway
Warren, NSW 2824
Australia
Telephone: +61 2 68837306
Facsimile: +61 2 68474399
Trangie Office
Mitchell Highway
Trangie, NSW 2824
page 11 / 15
Australia
Telephone: +61 429 916118
Fax: +61 2 68474399
Gross Domestic Products (GDP) & Economic
Overview
Central bank :
Reserve Bank of Australia
Reserve of foreign
exchange & gold : US$ 43.879
billion
Gross domestic
product - GDP : US$ 1.586
trillion
GPP (Purchasing
power parity) : 954.296
billion of International dollars
GDP per capita -
current prices : US$ 68,916
GDP - composition
by sector : agriculture:
4%
industry: 25.6%
services: 70.4%
Inflation :
2009: 1.8%
2010: 2.8%
2011: 3.4%
Unemployment rate : 2009: 5.6%
2010: 5.2%
2011: 5.1%
Public debt
(General
Government gross debt
as a % GDP)
: 2009: 16.9%
2010: 20.4%
2011: 22.9%
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 :
Westpac Banking Group (Major Banks), BHP Billiton (Diversified Metals &
Mining), Commonwealth Bank (Major Banks), National Australia Bank (Major
Banks), ANZ Banking (Major Banks), Telstra (Telecommunications services),
Wesfarmers (Food Retail)
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 : 2008: US$46,843 million
2009: US$25,716 million
2010: US$32,472 million
FDI Outflows : 2008:
US$33,604 million
2009: US$16,160 million
2010: US$26,431 million
Best countries for
doing business : 10 out of 183
countries
Global
competitiveness ranking : 20
(ranking by country on a basis of 142, 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 : 76%
PAYMENT HISTORY
Purchase Term
Local :
Prepayment, Bank transfer, D/P, Credit 30-90 days
Sales Term
Local :
Prepayment, Bank transfer, D/P, Credit 30-90 days
International : L/C,
Telegraphic transfer, D/P, Credit 30-90 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.55.81 |
|
|
1 |
Rs.87.67 |
|
Euro |
1 |
Rs.68.45 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.