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Report Date : |
01.12.2012 |
IDENTIFICATION DETAILS
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Name : |
DTI GROUP LTD |
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Registered Office : |
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Country : |
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Financials (as on) : |
30.06.2012 |
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Date of Incorporation : |
08.06.1995 |
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Reg. No.: |
069791091 |
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Legal Form : |
Unlisted Public Company |
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Line of Business : |
Design, development,
sales and management of integrated video Surveillance and vehicle tracking
technology. |
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No. of Employees : |
60 |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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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 |
Australia - ECONOMIC OVERVIEW
Australia's abundant and diverse natural resources attract high levels of foreign investment and include extensive reserves of coal, iron ore, copper, gold, natural gas, uranium, and renewable energy sources. A series of major investments, such as the US$40 billion Gorgon Liquid Natural Gas project, will significantly expand the resources sector. Australia also has a large services sector and is a significant exporter of natural resources, energy, and food. Key tenets of Australia''s trade policy include support for open trade and the successful culmination of the Doha Round of multilateral trade negotiations, particularly for agriculture and services. The Australian economy grew for 17 consecutive years before the global financial crisis. Subsequently, the former RUDD government introduced a fiscal stimulus package worth over US$50 billion to offset the effect of the slowing world economy, while the Reserve Bank of Australia cut interest rates to historic lows. These policies - and continued demand for commodities, especially from China - helped the Australian economy rebound after just one quarter of negative growth. The economy grew by 1.4% during 2009 - the best performance in the OECD - by 2.7% in 2010, and by 1.8% in 2011. Unemployment, originally expected to reach 8-10%, peaked at 5.7% in late 2009 and fell to 5.0% in 2011. As a result of an improved economy, the budget deficit is expected to peak below 4.2% of GDP and the government could return to budget surpluses as early as 2015. Australia was one of the first advanced economies to raise interest rates, with seven rate hikes between October 2009 and November 2010. The GILLARD government is focused on raising Australia''s economic productivity to ensure the sustainability of growth, and continues to manage the symbiotic, but sometimes tense, economic relationship with China. Australia is engaged in the Trans-Pacific Partnership talks and ongoing free trade agreement negotiations with China, Japan, and Korea.
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Source : CIA |
Verified Address
Subject name : DTI GROUP LTD
Other style /
Business name : DIGITAL TECHNOLOGY
INTERNATIONAL
Business address : 50 Affleck Road
Town : Perth
Airport
Province : Western
Australia
Zip/postal code : 6105
Country : Australia
Tel : +61
8 94791195
Fax : +61
8 94791190
Email :
dti@dti.com.au
Website :
www.dti.com.au
Registered address
: 50 Affleck Road
Town : Perth
Airport
Province : Western
Australia
Zip/postal code : 6105
Country : Australia
Executive Summary
Date founded or
registered : 08/06/1995
Legal form : Unlisted
Public Company
Chief executive : Richard Andrew Johnson
Issued & paid
up capital : AUD 10,053,700
Sales turnover : AUD 14,762,644
(Consolidated 12 months, 30/06/2012)
Net income : AUD -227,115
(Consolidated 12 months, 30/06/2012)
Total fixed assets
: AUD 11,751,331
(Consolidated 12 months, 30/06/2012)
Line of business : Design, development,
sales and management of integrated video
Surveillance and vehicle
tracking technology.
Staff employed : 60 employees
Company Analysis
Country risk : Country risk is
minimal
Operation trend : Operational trend is declining
Management
experience : Management is
reasonably experienced
Financial
performance : Financial
performance is fair
Organization
structure : Organizational
structure is stable
Detrimental : No detrimental found
Payment history : No payment delays noted
Credit amount
suggestion : USD 600,000
Credit amount
asked : Not described.
Registry Data
Registration date :
08/06/1995
Legal form :
Unlisted Public Company
Registration no
Australian Company Number :
069791091
Registered
authority :
Australian Securities & Investments Commission
Fiscal/ Tax no :
Australian Business Number :
15069791091
Registry status :
Live/Active
Previous name :
The Subject was established on 08-06-1995 under the
name UTS NAVIGATION SYSTEMS PTY LTD and changed its name to UTS
NAVIGATION SYSTEMS
LTD on 15-07-2004. UTS NAVIGATION SYSTEMS LTD then changed its name to
the current style on 08-12-2004.
Change of legal
form :
None reported.
Key Management
Name :
Richard Andrew Johnson
Designation :
Chief Executive Officer
Name :
Bruce Douthwaite Mitchell
Designation :
Chief Financial Officer
Name :
Bruce Were
Designation :
Chief Operating Officer
Name :
Rick Gougeon
Designation :
General Manager – America
Name :
Steve Donnohue
Designation :
General Manager – EMEA
Name :
Jean-Michel Florent
Designation :
General Manager – Asia
Appointments
Name :
Neil Edward Goodey
Designation :
Director
Appointment date :
08/06/95
Address :
7 Barberry Court
Dianella, WA 6059
Australia
Biography :
Born on 15-05-1969 in United Kingdom.
Neil has over 20 years management and directorship experience in
technology and mining service companies. Neil was co-founder of DTI Group as
well as a number of other successful companies including UTS Geophysics. Neil
is Managing Director and cofounder of Core scan Pty Ltd.
Name :
Glyn Denison
Designation :
Director
Appointment date :
19/01/04
Address :
4 Clarendon Street
Cottesloe, WA 6011
Australia
Biography :
Born on 28-09-1952 in Perth, Western Australia,
Australia.
Glyn has over 20 years experience in the transit technology sector and
was a co-founder of ERG Limited. Glyn is a Director of OBJ Ltd. and consults
with the business consulting firm of Evans & Peck Ltd. Glyn’s
qualifications include a B.Eng., Grad.Dip.B.A., and MIEAust.
Name :
Christopher John Morris
Designation :
Director
Appointment date :
29/06/11
Address :
Unit 10, 123 Beaconsfield Parade
Albert Park, VIC 3206
Australia
Biography :
Born on 20-10-1947 in Melbourne, Victoria, Australia.
Chris attended his first computer course in Melbourne in 1966 after
completing high school. Following this he worked for various computer companies
mainly associated with maintaining companies share registries until 1978 when
he was a founding member of Computershare Limited (established in 1978) and was
appointed Chief Executive Officer in 1990. Chris’ extensive knowledge of the
securities industry and its user requirements from both a national and
international perspective, coupled with his passion and long term strategic
vision, has been instrumental in developing Computershare into a global company
that is unique in its provision of a full range of solutions to meet the needs
of listed companies and their stakeholders.
In September 2010 he relinquished his executive responsibilities at
Computershare Limited and took on the role of Non-Executive Chairman. Since then
he has joined the board of Web Firm and is Chairman of Car Parking
Technologies. He is also on the board of
a number of private technology companies and owns a hotel group called
the Colonial Leisure Group which has 15 hotels in Perth and Melbourne.
Name :
Jeremy Philip King
Designation :
Director
Appointment date :
29/06/11
Address :
8 St Leonards Avenue
West Leederville, WA 6007
Australia
Biography :
Born on 11-05-1974 in Melbourne, Victoria, Australia.
Jeremy is a corporate lawyer with over 12 years experience in domestic
and international law, as well as in financial and corporate matters. He spent
several years in London where he worked with Allen & Overy LLP and
Debevoise & Plimpton LLP. He has extensive
corporate experience, particularly in relation to cross-border private
equity, leveraged buy-out acquisitions and acting for banks, financial
institutions and corporate issuers in respect of various debt and equity
capital raisings. As a corporate advisor with Max Capital Pty Limited, he
regularly advises a wide range of listed public and private companies in
respect to capital raisings, investments, acquisitions and corporate issues.
Name :
Richard Andrew Johnson
Designation :
Director
Appointment date :
09/08/11
Address :
3 Vigors Court
Duncraig, WA 6023
Australia
Biography :
Born on 29-12-1963 in Calgary, Canada.
Richard is a qualified engineer and has over 17 years experience in the
transit technology sector. In 2005 Richard joined DTI as General Manager and
commenced the role as Chief Executive Officer in October 2006. In June 2011
Richard joined the Board as Managing Director. Prior to joining DTI, he held
senior management positions within ERG
Limited which developed, supplied, and managed integrated fare collection
systems for the transit industry around the world. Richard’s qualifications
include a B.Sc (Eng), M.Eng.St., and an MBA.
Name :
Bruce Douthwaite Mitchell
Designation :
Company Secretary
Appointment date :
27/05/12
Address :
20 Langley Way
Booragoon, WA 6154
Australia
Biography :
Born on 13-04-1967 in Pietermaritzburg, South Africa.
Bruce has been a qualified Chartered Accountant for almost 20 years and
has over 15 years experience in senior financial roles. He joined DTI in 2012
as CFO and is responsible for the management and administration of all aspects
relating to both internal and external financial accounting and reporting.
Prior to DTI Bruce gained
experience working as a Financial Director for several South Africa
based companies. He has worked across varied industries including IT and
manufacturing.
Staff employed :
60 employees
Key Advisors
Auditors :
BDO AUDIT (WA) PTY LTD
38 Station Street
Subiaco, WA 6008
Australia
HORWATH AUDIT (WA)
128 Hay Street
Subiaco, WA 6008
Australia
Solicitors :
HEWETT & LOVITT
Level 1, 849 Wellington Street
West Perth, WA 6005
Australia
Composition
Authorized Capital
:
AUD 10,053,700
No of shares :
10,376,117 Ordinary Shares
Share par value : No par
value
Issued capital :
AUD 10,053,700
Paid up capital :
AUD 10,053,700
How listed :
N/A
Composition
Ownership / Shareholding comment :
Unlisted Public Companies in Australia are not required to disclosed their
shareholding structure however the Subject is believe to be controlled by the
Board of Directors.
Structure
Name :
VIRTUAL OBSERVER PTY LTD
Affiliation type :
Wholly-owned Subsidiary
Address :
50 Affleck Road
Perth Airport, WA 6105
Australia
Name :
DTI EMEA LIMITED
Affiliation type :
Wholly-owned Subsidiary
Address :
Hill House
1 Little New Street
London EC4A 3TR
United Kingdom
Name :
CORESCAN PTY LTD
Affiliation type :
Associate
Address :
Unit 13, 28 Belmont Avenue
Belmont, WA 6104
Australia
Bank Details
Name of bank :
Westpac Banking Corporation
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 :
Satisfied Charge Details:
ASIC Charge Number: 808186
Date Registered: 04-07-2001
Charge type: Both Fixed & Floating
Date Created: 02-06-2001
Chargees Name: COMMONWEALTH BANK OF AUSTRALIA
ASIC Charge Number: 1308268
Date Registered: 02-06-2006
Charge type: Both Fixed & Floating
Date Created: 02-06-2006
Chargees Name: PENDULUM CAPITAL PTY LIMITED
ASIC Charge Number: 1779354
Date Registered: 21-04-2009
Charge type: Both Fixed & Floating
Date Created: 15-04-2009
Chargees Name: PENDULUM INVESTMENTS PTY LIMITED
ASIC Charge Number: 1807040
Date Registered: 30-06-2009
Charge type: Both Fixed & Floating
Date Created: 16-06-2009
Chargees Name: WESTPAC BANKING
CORPORATION
ASIC Charge Number: 1900689
Date Registered: 23-12-2009
Charge type: Both Fixed & Floating
Date Created: 21-12-2009
Chargees Name: PENDULUM INVESTMENTS PTY LIMITED
ASIC Charge Number: 1916580
Date Registered: 21-01-2010
Charge type: Both Fixed & Floating
Date Created: 20-01-2010
Chargees Name: PENDULUM INVESTMENTS PTY LIMITED
ASIC Charge Number: 2054196
Date Registered: 30-09-2010
Charge type: Both Fixed & Floating
Date Created: 30-09-2010
Chargees Name: BERMUDA COMMERCIAL BANK LIMITED
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 :
30/06/12
Type of accounts : Full
audited
Currency :
Australia Dollar (AUD)
Exchange rate :
1 USD = AUD 0.96 as of 28-11-2012
Summarized Financial Information
Consolidation type
:
Consolidated Consolidated
Currency :
Australia Dollar (AUD) Australia Dollar
(AUD)
Denomination :
(x1) One (x1) One
Date of financial
year end :
30/06/12 30/06/11
Length of accounts
:
12 months 12 months
Sale turnover /
Income :
14,762,644 16,638,361
Profit before tax :
-426,992 565,151
Net income :
-227,115 776,151
Non current assets
:
4,077,676 3,089,495
Current assets :
7,673,655 8,651,587
Inventories :
2,516,626 1,367,136
Total assets :
11,751,331 11,741,082
Current
liabilities :
4,264,623 4,286,308
Non current liabilities
:
34,556 60,403
Total liabilities :
4,299,179 4,346,711
Share equity :
7,452,152 7,394,371
Reserve :
1,153,272 1,118,376
Retained earning :
-2,903,601 -2,676,486
Comments : The
consolidated financial information above relates to the Subject and all its
subsidiaries.
Main activities :
The Subject is engaged in design, development, sales and management of
integrated video surveillance and vehicle tracking technology specially
developed for use in the public transport sector including bus, rail, taxi and
law enforcement operations.
The Subject’s integrated solution incorporates proprietary hardware and
software technology which enables high quality digital video, audio and vehicle
location information to be captured, stored, retrieved and reviewed across a
fleet of transit vehicles.
Product &
services :
Bus Solutions
-Mobile Digital Recorder (MDR5 series)
-CCTV Investigation Software
-Surveillance Management System
Rail Solutions
-Integrated Rail Communication, Passenger Information and Video
Surveillance System
-DRU System Server
-Video Surveillance Recording
-Train Data Recorder (TDR)
-Passenger Emergency Intercom
-Driver Display Unit
-External Destination Indicator
-CCTV Investigation Software
-Surveillance Management System
-Automated Camera Maintenance System
-Fleet Data Management System (FDMS)
-Vehicle Location System
-Vehicle Data Recorder
Taxi Solutions
-In Car Video
-Software and Data, Vehicle Interface Modules
-Driver Duress
-Camera Coverage & Picture Quality
Purchases
International :
Taiwan, China, United States, United Kingdom
Sales
Local :
Yes
International :
United Kingdom, United States, United Arab Emirates, South Africa, Netherlands
Property & Assets
Premises :
The Subject operates from premises located at the verified heading address
consisting of a production facility, warehouse and administrative office.
Branches :
None reported.
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 :
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 :
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%
Purchase Term
Local :
Credit 30-60 days, Prepayment
International :
Credit 45 days, Prepayment
Sales Term
Local :
Credit 30 days
International : Credit 30-45 days
Trade Reference/ Payment
Behavior
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.54.52 |
|
|
1 |
Rs.87.48 |
|
Euro |
1 |
Rs.70.89 |
INFORMATION DETAILS
|
Report
Prepared by : |
SDA |
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.