MIRA INFORM REPORT
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Report Date : |
25.08.2012 |
IDENTIFICATION DETAILS
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Name : |
POWERS FASTENERS AUSTRALASIA PTY LTD |
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Formerly Known As : |
RAWL AUSTRALASIA PTY LTD |
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Registered Office : |
Factory 3, 205-233 Abbotts Road, Dandenong South, Victoria, Zip/postal code 3175 |
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Country : |
Australia |
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Date of Incorporation : |
16.11.1993 |
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Com. Reg. No.: |
062405378 |
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Legal Form : |
Australian Proprietary
Company |
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Line of Business : |
Distributors of anchoring and fastening products for concrete, masonry, and steel |
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No. of Employees : |
70 employees (Subject);
44,700 employees (Stanley Black & Decker Group) |
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 – 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 : POWERS FASTENERS AUSTRALASIA PTY
LTD
Business address : Factory 3, 205-233 Abbotts Road
Town : Dandenong South
Province : Victoria
Zip/postal code : 3175
Country : Australia
Tel : +61 3 87954600
Fax : +61 3 87875899
Email : info@powers.com.au
Website : www.powers.com.au
Registered address : Factory 3, 205-233 Abbotts Road
Town : Dandenong South
Province : Victoria
Zip/postal code : 3175
Country : Australia
Executive Summary
Date founded or registered : 16/11/1993
Legal form : Australian
Proprietary Company
Chief executive : Adrian Scott Davis
Issued & paid up capital
: AUD 4
Sales turnover : AUD 12,000,000 (Estimated
Non-consolidated 12 months, 30/06/2010)
Line of business : Distributors of anchoring
and fastening products for concrete, masonry, and
steel.
Staff employed : 70 employees (Subject); 44,700
employees (Stanley Black & Decker Group)
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 fair
Organization structure : Organizational structure is stable
Detrimental : No detrimental records found
Payment history : No payment delays noted
Comments : Credit can be
granted as the Subject is backed by a reputable company.
Registry Data
Registration date : 16/11/1993
Legal form : Australian Proprietary Company
Registration no Australian Company Number:
062405378
Registered authority : Australian Securities and Investments
Commission
Fiscal/ Tax no : Australian Business Number:
41212423119
Registry status : Live/Active
Previous name : The Subject was established under
the name ELECTROTEC INDUSTRIES PTY
LTD on
16-11-1993 and changed its name to RAWLPLUG AUSTRALIA PTY.
LTD. on
28-01-1994. RAWLPLUG AUSTRALIA PTY. LTD. then changed its
name to
RAWL AUSTRALASIA PTY LTD on 20-07-1995.
RAWL
AUSTRALASIA PTY LTD then adopted to the current style on 29-07-1998.
Change of legal form : None reported.
Key Management
Name : Adrian Scott Davis
Designation : Managing Director
Appointments
Name : Adrian Scott Davis
Designation : Director
Appointment date : 31/05/12
Address : 45 Gosford Court
Park
Orchards, VIC 3114
Australia
Biography : Born on 27-08-1971 in
Williamstown, Victoria, Australia.
Name : Michael Arthur Bartone
Designation : Director
Appointment date : 31/05/12
Address : 65 Ted's Court
Cheshire,
CT 06410
United
States
Biography : Born on 17-07-1959 in
Queens, United States.
Name : Craig Argyle Douglas
Designation : Director
Appointment date : 31/05/12
Address : 11 Summer Brook Lane
Cromwell,
CT 06416
United
States
Biography : Born on 17-02-1955 in
Alomogordo, United States.
Name : Jamie Alberto Ramirez
Alzate
Designation : Director
Appointment date : 11/06/12
Address : 485 Ridgewood Road
Key
Biscayne, FL 33149
United
States
Biography : Born on 21-02-1967 in Bogota,
Colombia.
Name : Valerie Margaret Hudson
Designation : Company Secretary
Appointment date : 31/05/12
Address : 6 Sunlander Way
Doreen, VIC 3754
Australia
Biography : Born on 12-12-1958 in Box Hill, Victoria,
Australia.
Name : Robin
Zimmerman Weyand
Designation : Company Secretary
Appointment date : 31/05/12
Address : 3 Briarwood Farm Court
Reisterstown, MD 21136
United States
Biography : Born on 26-09-1963 in Harrisburg, Pennsylvania,
United States.
Staff employed : 70 employees (Subject); 44,700 employees (Stanley Black & Decker
Group)
Composition
Authorized Capital : AUD 4
No of shares : 2 Class A Ordinary Shares / 2
Class B Ordinary Shares
Share par value : AUD 1
Issued capital : AUD 4
Paid up capital : AUD
4
How listed : Full List
Composition
Shareholder name : BLACK & DECKER HOLDINGS (AUSTRALIA)
PTY. LTD.
Address : 82 Taryn Drive
Epping,
VIC 3076
Australia
No. of shares : 2 Class A Ordinary Shares / 2
Class B Ordinary Shares
% of shares : 100%
Structure
Name : STANLEY BLACK & DECKER, INC.
Affiliation type : Ultimate Holding Company
Address : 1000 Stanley Drive
New
Britain, CT 06053
United
States
Comments : Stanley Black & Decker, Inc. provides
power and hand tools, mechanical access
solutions, and electronic security and
monitoring systems primarily in the United
States, Europe, Latin America, and
Canada. The company’s Construction &
Do-It-Yourself segment offers
professional corded and cordless electric power
tools and equipment, such as drills,
impact wrenches and drivers, grinders, saws,
routers, and sanders; consumer corded
and cordless power tools, lawn and
garden products, and home products;
and hand tools, fasteners, and storage
products. This segment sells its
products to professional end users, distributors,
and retailers. Its Security segment
provides electronic security systems; electronic
security services, such as alarm
monitoring, video surveillance, fire alarm
monitoring, systems integration, and
system maintenance; healthcare solutions
comprising medical carts and
cabinets, asset tracking, infant and pediatric
protection, patient protection,
wander and fall management, and emergency call
products;
and automatic doors, residential and commercial hardware, locking
mechanisms,
electronic keyless entry systems, keying systems, and tubular and
mortise
door locksets. This segment sells its products directly, as well as through
retailers
and third party distributors. The company’s Industrial segment offers
hand
tools, power tools, and engineered storage solution products; engineered
fasteners;
and custom pipe handling machinery, joint welding and coating
machinery,
weld inspection services, and hydraulic tools and accessories. This
segment
sells its products to the automotive, manufacturing, aerospace, and
natural gas
pipeline industries through third party distributors and direct sales
forces.
The company was formerly known as The Stanley Works and changed its
name to
Stanley Black & Decker, Inc. in March 2010. Stanley Black & Decker,
Inc. was
founded in 1843 and is headquartered in New Britain, Connecticut.
Name : BLACK & DECKER HOLDINGS
(AUSTRALIA) PTY. LTD.
Affiliation type : Parent
Company
Address : 82 Taryn Drive
Epping,
VIC 3076
Australia
Name : BLACK & DECKER (AUSTRALIA) PTY.
LTD.
Affiliation type : Sister
Company
Address : 82 Taryn Drive
Epping,
VIC 3076
Australia
Name : BLACK & DECKER DISTRIBUTION PTY. LTD.
Affiliation type : Sister
Company
Address : 82 Taryn Drive
Epping,
VIC 3076
Australia
Name : THE STANLEY WORKS PTY. LTD.
Affiliation type : Sister
Company
Address : 82 Taryn Drive
Epping,
VIC 3076
Australia
Related companies and corporate affiliations comments
Other companies of the
Stanley Black & Decker Group should be considered affiliates of the
Subject.
Bank Details
Name of bank : Australia And New Zealand Banking
Group Limited
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
ASIC Charge Number: 459657
Date Registered: 28-09-1994
Charge type: Both Fixed &
Floating
Date Created: 24-08-1994
Chargee Name: AUSTRALIA AND
NEW ZEALAND BANKING GROUP
ASIC Charge Number: 913597
Date Registered: 02-01-2003
Charge type: Both Fixed &
Floating
Date Created: 19-12-2002
Chargee Name: NATIONAL
AUSTRALIA BANK LIMITED
Legal Fillings
Bankruptcy fillings : None reported.
Court judgements : None reported.
Tax liens : None reported.
Others : None reported.
NANCIAL DATA
Description
Source of financial statement
: Provided by the Subject
Financial statement date : 30/06/10
Type of accounts : Estimated key figures
Currency : Australia
Dollar (AUD)
Exchange rate : 1 USD = AUD 0.96 as of
24-08-2012
Summarized
Financial Information
Consolidation type : Non Consolidated
Currency : Australia
Dollar (AUD)
Denomination : (x1) One
Date of financial year end : 30/06/10
Length of accounts : 12 months
Sale turnover / Income : 12,000,000
Comments : Group consolidated figures
can’t be included as the Subject has yet to be
consolidated into the Stanley Black & Decker, Inc.
consolidated financial
statement due to the recent acquisition.
The Subject is classified as a small proprietary company by the Australian Securities & Investments Commission hence is not required to disclose their financial statement.
A proprietary company is defined as small for a financial year if
it satisfies at least two of the following:
- The consolidated revenue for the financial year of the company
and any entities it controls is less than $25 million;
-The value of the consolidated gross assets at the end of the
financial year of the company and any entities it controls is less than $12.5
million, and
-The company and any entities it controls have fewer than 50
employees at the end of the financial year
The estimated turnover was provided
by Mr. Brad Howarth.
Main activities : The Subject's main activities are
distribution of anchoring and fastening
products for concrete, masonry, and
steel.
The Subject is ultimately owned by
Stanley Black & Decker, Inc..
Stanley Black & Decker, Inc.
provides power and hand tools, mechanical
access solutions, and electronic
security and monitoring systems primarily
in the United States, Europe, Latin
America, and Canada.
The company’s Construction & Do-It-Yourself
segment offers professional
corded and cordless electric power
tools and equipment, such as drills,
impact wrenches and drivers,
grinders, saws, routers, and sanders;
consumer corded and cordless power
tools, lawn and garden products, and
home products; and hand tools,
fasteners, and storage products. This
segment sells its products to
professional end users, distributors, and
retailers.
Its Security segment provides
electronic security systems; electronic
security services, such as alarm monitoring,
video surveillance, fire alarm
monitoring, systems integration, and
system maintenance; healthcare
solutions comprising medical carts
and cabinets, asset tracking, infant and
pediatric protection, patient
protection, wander and fall management, and
emergency call products; and
automatic doors, residential and commercial
hardware, locking mechanisms,
electronic keyless entry systems, keying
systems, and tubular and mortise door
locksets. This segment sells its
products directly, as well as through
retailers and third party distributors.
The
company’s Industrial segment offers hand tools, power tools, and
engineered
storage solution products; engineered fasteners; and custom
pipe
handling machinery, joint welding and coating machinery, weld
inspection
services, and hydraulic tools and accessories. This segment
sells its
products to the automotive, manufacturing, aerospace, and natural
gas
pipeline industries through third party distributors and direct sales
forces.
Stanley
Black & Decker, Inc. was founded in 1843 and is
headquartered
in New Britain, Connecticut.
Product & services :
· Bolt fixings
· Cavity, plasterboard and hollow fixings
· High load bolt fixings
· Light duty fixings
· Masonry nails / purlin clips / wedge nuts
· Rubber nuts
· Spike fixings
· Through bolt
· Screws and rivets
· Powder and gas actuated fastening systems
· Adhesive fastening solution
Purchases
International : Mainly from Taiwan, China,
Japan, South Africa, Germany.
Sales
Local : Yes
International : Pacific Islands
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:
11 Smeaton
Grange Road
Smeaton Grange,
NSW 2567
Australia
Tel: +61 2
46347600
Unit 2, 67
Colebard Street West
Acacia
Ridge, QLD 4110
Australia
Tel: +61 7
37122600
5 Stirling
Street
Thebarton,
SA 5031
Australia
Tel: +61 8
81613000
27
Creative Street
Wangara,
WA 6065
Australia
Tel: +61 8
94089600
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 Credit 30-60 days
Sales Term
Local : Cash against document,
Credit 30-60 days
International : Prepayment, Credit 30-60 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.55.38 |
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UK Pound |
1 |
Rs.87.80 |
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Euro |
1 |
Rs.69.48 |
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.