|
Report Date : |
22.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
AUSCOTT MARKETING PTY LTD |
|
|
|
|
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 : |
26.07.1885 |
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Com. Reg. No.: |
002970667 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
The Subject is engaged in marketing and distribution of cotton, wheat,
chickpeas, cotton feed etc. |
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No. of Employees : |
250
employees (Auscott Group) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
|
Without Financials |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 (31.03.2012) |
Current Rating (30.06.2012) |
|
New Zealand |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
|
Off-credit |
D |
NEW ZEALAND - ECONOMIC OVERVIEW
Over the past 20 years the government has transformed New
Zealand from an agrarian economy dependent on concessionary British market
access to a more industrialized, free market economy that can compete globally.
This dynamic growth has boosted real incomes - but left behind some at the
bottom of the ladder - and broadened and deepened the technological
capabilities of the industrial sector. Per capita income rose for ten
consecutive years until 2007 in purchasing power parity terms, but fell in
2008-09. Debt-driven consumer spending drove robust growth in the first half of
the decade, helping fuel a large balance of payments deficit that posed a
challenge for economic managers. Inflationary pressures caused the central bank
to raise its key rate steadily from January 2004 until it was among the highest
in the OECD in 2007-08; international capital inflows attracted to the high
rates further strengthened the currency and housing market, however,
aggravating the current account deficit. The economy fell into recession before
the start of the global financial crisis and contracted for five consecutive
quarters in 2008-09. In line with global peers, the central bank cut interest
rates aggressively and the government developed fiscal stimulus measures. The
economy posted a 2% decline in 2009, but pulled out of recession late in the
year, and achieved 1.7% growth in 2010 and 2% in 2011. Nevertheless, key trade
sectors remain vulnerable to weak external demand. The government plans to
raise productivity growth and develop infrastructure, while reining in
government spending.
|
Source : CIA |
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, chickpeas, cotton feed etc.
Staff
employed :
250 employees (Auscott Group)
Company Analysis
Country
risk :
Country risk is minimal
Operation
trend :
Operational trend is steady
Management
experience : Management is
adequately experienced
Financial
performance : Group
financial performance is good
Organization
structure : Organizational
structure is stable
Detrimental
: No detrimental found
Payment
history : No
payment delays noted
Registry Data
Registration
date :
26/07/1985
Legal
form :
Australian Proprietary Company
Registration
no Australian Company number :
002970667
Registered
authority :
Australian Securities and Investments Commissions
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)
Key Advisors
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
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 18-12-2012
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, chickpeas,
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
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 :
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
: 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.55.08 |
|
UK Pound |
1 |
Rs.89.53 |
|
Euro |
1 |
Rs.72.77 |
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.