MIRA INFORM REPORT
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Report Date : |
10.08.2012 |
IDENTIFICATION DETAILS
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Name : |
CHEMCOLOUR INDUSTRIES AUSTRALIA PTY LIMITED |
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Formerly Known As : |
ARTURUS SOLUTIONS PTY LIMITED |
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Registered Office : |
19-25 Anne Street, St
Marys, New South Wales, Zip/postal code 2760 |
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Country : |
Australia |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
25.05.2007 |
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Com. Reg. No.: |
125602271 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Manufacturer and
distributor of speciality chemicals. |
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No. of Employees : |
32 employees |
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 : |
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 – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 : CHEMCOLOUR INDUSTRIES AUSTRALIA PTY
LIMITED
Business address : Monash Business Park
20-22 Gardiner Road
Town : Notting Hill
Province : Victoria
Zip/postal code : 3168
Country : Australia
Tel : +61 3 95380300
Fax : +61 3 95380333
Email : enquiry@chemcolour.com.au
Website : www.chemcolour.com
Registered address : 19-25 Anne Street
Town : St Marys
Province : New South Wales
Zip/postal code : 2760
Country : Australia
Postal address : P.O. Box 341
Town : Mt Waverly
Province : Victoria
Zip/postal code : 3149
Country : Australia
Executive Summary
Date founded or registered : 25/05/2007
Legal form : Australian
Proprietary Company
Chief executive : Colin Glazier
Issued & paid up capital
: AUD 2,500,000
Sales turnover : AUD 36,571,019 (Non-consolidated 12
months, 31/03/2011)
Net income : AUD -112,861
(Non-consolidated 12 months, 31/03/2011)
Total fixed assets : AUD 19,125,016 (Non-consolidated
12 months, 31/03/2011)
Line of business Manufacturer and
distributor of speciality chemicals.
Staff employed : 32 employees
Company Analysis
Country risk : Country risk is
minimal
Operation trend : Operational trend is
declining
Management experience : Management is modestly experienced
Financial performance : Financial performance is fair
Organization structure : Organizational
structure is stable
Detrimental : No detrimental records found
Payment history : No payment delays noted
Registry Data
Registration date : 25/05/2007
Legal form : Australian Proprietary Company
Registration no Australian Company number:
125602271
Registered authority : Australian Securities & Investments
Commission
Fiscal/ Tax no : Australian Business Number:
70125602271
Registry status : Live/Active
Previous name : ARTURUS SOLUTIONS PTY LIMITED
(initial)
Change of legal form : None reported.
Key Management
Name : Colin Glazier
Designation : Managing Director
Appointments
Name : Murray John Nancekivell
Designation : Director
Appointment date : 25/05/07
Address : 57 Victoria Avenue
Remuera,
Auckland 1050
New Zealand
Biography : Born on 06/04/1949 in New
Zealand.
Name : Paul Gardner
Designation : Director
Appointment date : 20/07/07
Address : 3 Venus Place
Half Moon
Bay, Auckland 2012
New
Zealand
Biography : Born on 01/07/1955 in
Auckland, New Zealand.
Name : Colin Glazier
Designation : Director
Appointment date : 20/07/07
Address : 7 Westbank Avenue
Emu
Plains, NSW 2750
Australia
Biography : Born on 08/12/1950 in
Parramatta, New South Wales, Australia.
Staff employed : 32 employees
Key Advisors
Auditors : KPMG
147
Collins Street
Melbourne,
VIC 3000
Australia
Composition
Authorized Capital : AUD 2,500,000
No of shares : 2,500,000 Ordinary Shares
Share par value : AUD 1
Issued capital : AUD 2,500,000
Paid up capital : AUD
2,500,000
How listed : Full List
Composition
Shareholder name : CHEMCOLOUR INDUSTRIES (NZ) LIMITED
Address : 24 Poland Road
Wairau
Valley
North
Shore 0627
New
Zealand
No. of shares : 2,500,000 Ordinary Shares
% of shares : 100%
Structure
Name : CHEMCOLOUR INDUSTRIES
(NZ) LIMITED
Affiliation type Parent Company
Address : 24 Poland Road
Wairau
Valley
North
Shore 0627
New
Zealand
Bank Details
Name of bank : HSBC Bank 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
Description
Source of financial statement
: Commercial Registry Filings
Financial statement date : 31/03/11
Type of accounts : Full audited
Currency : Australia Dollar
(AUD)
Exchange rate : 1 USD = AUD 0.95 as of
08-08-2012
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 : 31/03/11 31/03/10
Length of accounts : 12 months 12 months
Sale turnover / Income : 36,571,019
32,781,972
Gross profit : 7,482,377 8,401,955
Operating profit : 266,845
2,048,959
Profit before tax : -311,729 1,887,117
Net income : -112,861 1,321,386
Non current assets : 4,880,770 4,904,103
Current assets : 14,244,246 11,750,481
Inventories : 5,882,716 4,918,212
Total assets : 19,125,016 16,654,584
Current liabilities : 12,805,863 10,084,062
Non current liabilities : 413,744
552,252
Total liabilities : 13,219,607 10,636,314
Share equity : 5,905,409 6,018,270
Retained earning : 3,405,409 3,518,270
Main activities : The Subject is engaged as
manufacturer and distributor of speciality chemicals.
Product & services :
Surfactants, biocides, waxes,
Emulsifiers for road construction,
Plasticisers, TEA, DEA,
Hydrocarbon and Gum Resins
Floculents, Glycerol
MonoOleate, Sorbitan MonoOleate
Cable filling compounds,
Chlorowax, Impact modifers, Latex foaming agents, Plasticisers, Polyols,
Stabilisers
Antisapstains, Biocides,
Formulated herbicides, fungicides and insecticides, Preservatives, Surfactants
Chem-metal paint driers ,
Esters, Plasticisers, Surfactants, Chlorowax
Specialty syntan and
auxiliary chemicals
Defoamers, Wax Emulsions,
Chelating resins
Stearic Acids, Surfactants,
Fatty Acids, Ethoxylates, TEA, DEA
Ethoxylated Products, Fatty
acid esters, Metal working lubricants,
Surfactants, Wax emulsions
and other wax products
Textile backing foaming agents,
stabilisers, softeners, acetic acid
Brand :
· CLARIANT
· EKA
· ELIOKEM
· KAMSONS
· SMIT AND ZOON
· FIRESTOP
· CMMP
· OLEON
· PAN CENTURY
· PAN CENTURY SURFACTANTS
· STEPHENSON
· ELIOKEM/APAR
· BLACKBURN
· MICHELMAN
· NORTHWEST ADHESIVE
· UPL
· COLOR-CHEM (UK)
· FIRESTOP
· NOVOZYMES
· SANITIZED AG
· EVONIK
· NIPA
· ENDURA
· NOCIL
· CIL
Purchases
Local : Yes
International : Asia, Europe
Sales
Local : Yes
International : Asia, Europe
Property &
Assets
Premises : The Subject operates from premises
located at the verified heading
address consisting
of an administrative office and applications laboratories.
Branches : In
addition, the Subject operates from a production facilities located at:
19-25 Anne
Street
St Marys,
NSW 2760
Australia
Phone: +61
2 88018100
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)
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%
Purchase Term
International : L/C, Prepayment, Telegraphic transfer, D/P,
Credit 30-90 days
Sales Term
Local : Prepayment, Bank transfer, D/P,
Credit 30-90 days
International : L/C, Prepayment, 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.55.17 |
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UK Pound |
1 |
Rs.86.43 |
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Euro |
1 |
Rs.68.27 |
INFORMATION DETAILS
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Report Prepared
by : |
MNL |
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.