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Report Date : |
31.12.2012 |
IDENTIFICATION DETAILS
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Name : |
ANZCHEM PTY
LIMITED |
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Formerly Known As : |
NEW ABF COMPANY
PTY LTD (initial) |
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Registered Office : |
'Building A',
Level 1 11 Talavera Road North Ryde New South Wales 2113 |
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Country : |
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Financials (as on) : |
31.08.2011 |
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Date of Incorporation : |
30.12.2002 |
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Com. Reg. No.: |
103260215 |
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Legal Form : |
Australian
Proprietary Company |
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Line of Business : |
Import &
distribution of pharmaceutical, veterinary, nutraceutical and food
ingredients products. |
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No. of Employees : |
20 employees |
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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
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Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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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 |
Source : CIA
Verified Address
Subject name : ANZCHEM PTY LIMITED
Business address :
Mills Waterfront Estate
19/52 Holker Street
Town : Silverwater
Province : New
South Wales
Zip/postal code : 2128
Country : Australia
Tel : +61 2 94752200
Fax : +61 2 94752211
Email : info@anzchem.com.au
Website : www.anzchem.com.au
Registered address
: 'Building A', Level 1
11 Talavera Road
Town : North Ryde
Province : New South Wales
Zip/postal code : 2113
Country : Australia
Headquarters 1 Braidwood Street Enfield, NSW 2136
Australia
Executive Summary
Date founded or
registered : 30/12/2002
Legal form : Australian Proprietary
Company
Chief executive : Manjit Singh
Issued & paid
up capital : AUD 50,000
Sales turnover : AUD 17,229,089 (Non-consolidated 12
months, 31/08/2011)
Net income : AUD 1,019,126
(Non-consolidated 12 months, 31/08/2011)
Total fixed assets
: AUD 8,457,095
(Non-consolidated 12 months, 31/08/2011)
Line of business :
Import &
distribution of pharmaceutical, veterinary, nutraceutical and food
ingredients products.
Staff employed : 20 employees (Subject); 106,243
employees (Associated British Foods 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 found
Payment history : No payment delays noted
Comments : Larger credit can
still be considered if guaranteed by Intermediate Holding
Company.
Registry Data
Registration date
: 30/12/2002
Legal form : Australian
Proprietary Company
Registration no Australia Company
Number: 103260215
Registered
authority : Australian
Securities and Investments Commission
Fiscal/ Tax no : Australia Business
Number: 27103260215
Registry status : Live/Active
Previous name : NEW ABF COMPANY PTY LTD
(initial)
Change of legal
form : None reported.
Key Management
Name : Manjit Singh
Designation : Managing Director
Appointments
Name : Shuvasis Rana Kayal
Designation : Director
Appointment date :
21/01/03
Address : 917 Winding Lane
Media, PA 19063
United States
Biography : Born on 07/02/1961 in
Calcutta, India.
Name : Manjit Singh
Designation : Director
Appointment date :
30/10/07
Address : 7A Bernard Place
Cherrybrook, NSW 2126
Australia
Biography : Born on 27-03-1955 in
Mombassa, Kenya.
Name : David Ross Wallace
Designation : Director
Appointment date :
28/07/11
Address : 5 Kentia Place
Alfords Point, NSW 2234
Australia
Biography : Born on 14/04/1966 in
Bankstown, New South Wales, Australia.
Name : Melanie Jean Jones
Designation : Director
Appointment date :
17/09/12
Address : 24 Fordham Drive
Matawan, NJ 07747
United States
Biography : Born on 18/05/1965 in
Gatesville, United States.
Name : Leslie Irwin Jackson
Designation : Company Secretary
Appointment date :
30/01/12
Address : Unit 54, 6 Wyargine Street
Mosman, NSW 2088
Australia
Biography : Born on 07/07/1946 in
Johannesburg, South Africa.
Staff employed : 20 employees (Subject); 106,243
employees (Associated British Foods Group)
Key Advisors
Auditors : KPMG
10 Shelley Street
Sydney, NSW 2000
Australia
Composition
Authorized Capital
: AUD 50,000
No of shares : 50,000 Ordinary
Shares
Share par value : AUD 1
Issued capital : AUD 50,000
Paid up capital : AUD 50,000
How listed : Full
List
Composition
Shareholder name :
SPI PHARMA INC.
Address : 40 Cape
Henlopen Drive
Lewes, DE 19958
United States
No. of shares : 50,000 Ordinary Shares
% of shares : 100%
Structure
Name : GARFIELD WESTON FOUNDATION
Affiliation type :
Ultimate Holding Company
Address : Weston Centre
10 Grosvenor Street
London W1K 4QY
United Kingdom
Comments : The W.
Garfield Weston Foundation is a private Canadian family foundation,
established in the
1950's by Willard Garfield Weston and his wife Reta. In 1924
Garfield inherited
his father's company and during his life established bakeries
and other
successful enterprises throughout Canada and in many parts of the
world. Today,
these businesses include the George Weston Limited and Loblaw
Companies Limited,
companies in food retailing, processing and distribution. The
founders believed
that as the funds are generated through the hard work and
success of these
Canadian companies, grants should be given in Canada for the
benefit of
Canadians. For three generations, the W. Garfield
Weston Foundation
has maintained a family tradition of supporting charitable
organizations
across Canada. Today the Foundation directs the majority of its
funds to projects
in the fields of land conservation, education, and science in
Canada's North.
Name : WITTINGTON INVESTMENTS LIMITED
Affiliation type :
Superior Holding Company
Address : Weston Centre
10 Grosvenor Street
London W1K 4QY
United Kingdom
Comments : Wittington
Investments Limited is a holding company, which through its
subsidiaries
processes and distributes food products. The company's subsidiaries
also operate
furniture and furnishing stores. Wittington Investments Limited was
incorporated in
1941 and is based in London, United Kingdom. The company
operates as a
subsidiary of Garfield Weston Foundation.
Wittington
Investments Limited is an unquoted British investment company. It is
79.2% owned by the
Garfield Weston Foundation, which is one of the UK's
largest
grant-making trusts, and 20.8% owned by members of the Weston family.
Wittington
Investments owns 54.5% of Associated British Foods, which is one of
the largest food
companies in the world, and is itself the parent company of
Primark, the
largest discount clothing chain in the UK and Ireland. Wittington
Investments also
owns London department store Fortnum & Mason and Heal's, a
UK chain of
homeware and furnishing department stores, It also owns De
Bijenkorf an
upscale department store in Holland. Associated British Foods also
own British Sugar
processor of all of the UK beet crop and producer of half the
UK consumption of
sugar.
Name : ASSOCIATED BRITISH FOODS PLC
Affiliation type :
Intermediate Holding Company
Address : Weston Centre
10 Grosvenor Street
London W1K 4QY
United Kingdom
Comments :
Associated British Foods plc operates as a diversified food, ingredients, and
retail
group worldwide.
The company operates through five segments: Grocery, Sugar,
Agriculture, Ingredients,
and Retail. The Grocery segment manufactures and sells
grocery products,
including hot beverages, sugar and sweeteners, vegetable oils,
bread and baked
goods, cereals, ethnic foods, herbs and spices, and meat
products to
retail, wholesale, and foodservice businesses. The Sugar segment
engages in growing
and processing sugar beet and sugar cane for sale to
industrial users.
The Agriculture segment manufactures animal feeds and other
products for the
agriculture sector, as well as offers technology and services to
the food, drink,
and animal feed sectors. The Ingredients segment manufactures
bakers’ yeast,
bakery ingredients, specialty proteins, enzymes, lipids, and yeast
extracts. The
Retail segment is involved in buying and merchandising clothing
and accessories
through the Primark and Penneys retail chains, which offer
womenswear,
lingerie, childrenswear, menswear, footwear, accessories, hosiery,
and homeware. The
company was founded in 1935 and is based in London, the
United Kingdom.
Associated British Foods plc is a subsidiary of Wittington
Investments
Limited.
Name : SPI PHARMA, INC.
Affiliation type :
Parent Company
Address : 40 Cape Henlopen Drive
Lewes, DE 19958
United States
Comments : SPI
Pharma, Inc. provides custom formulation solutions for pharmaceutical and
neutriceutical,
and animal health markets. The company offers excipients,
including
effervescent powders, fructose and maltose powders, liquid sorbitol,
lubricants, mannitol,
sorbitol, and specialty binders/buffers. It also offers antacid
actives, such as
coblend suspension products, DC powders, aluminum hydroxide
dried gels,
magnesium hydroxide pastes, magnesium hydroxide powders, and
vaccine support
products; and drug delivery systems and solutions. The company
offers its
products for application in solid dosage formulation, viscous
suspensions/blends,
DC chewing gum, effervescent systems,
chewable/quick-dissolve
tablets, and customized granulations. It sells its products
through
distributors in Americas, Europe, the Middle East, Africa, and the Asia
Pacific. The
company also engages in the distribution of pharmaceutical,
veterinary,
nutraceutical, and food ingredients to customers in Australia. SPI
Pharma, Inc. was formerly
known as SPCA Barcroft. The company was founded
in 1930 and is
based in Wilmington, Delaware. It has facilities in Lewes and New
Castle, Delaware;
Septemes, France; Grand Haven, Michigan; and Bengaluru,
India. SPI Pharma,
Inc operates as a subsidiary of Associated British Foods plc.
Name : AB MAURI MALAYSIA SDN. BHD.
Affiliation type :
Sister Company
Address : Lot 4185, Kg. Baru Balakong
43300 Balakong
Selangor Darul Ehsan
Malaysia
Related companies
and corporate
affiliations
comments : Other companies of the Associated British Foods Group should be
considered affiliates of the Subject.
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 : Commercial
Registry Filings
Financial
statement date : 31/08/11
Type of accounts :
Full audited
Currency : Australia Dollar
(AUD)
Exchange rate : 1 USD = AUD 0.96 as of
28-12-2012
Summarized Financial Information
Consolidation type
: Non Consolidated Non Consolidated
Group Consolidated
Currency : Australia Dollar
(AUD) Australia Dollar (AUD) United Kingdom, Pound (GBP)
Denomination : (x1) One (x1) One (x1) One
Date of financial
year end : 31/08/11 31/08/10 15/09/12
Length of accounts
: 12 months 12 months 12 months
Sale turnover /
Income : 17,229,089 13,693,402 12,252,000,000
Gross profit : 3,918,562 3,132,124
Operating profit :
1,544,054 1,287,503 873,000,000
Profit before tax
: 1,480,041 1,276,234 761,000,000
Net income : 1,019,126 889,986 583,000,000
Non current assets
: 280,506 224,826 6,971,000,000
Current assets : 8,176,589 6,938,237 3,269,000,000
Inventories : 3,795,875 3,222,942 1,500,000,000
Total assets : 8,457,095 7,163,063 10,240,000,000
Current liabilities
: 3,325,308 3,087,958 2,588,000,000
Non current
liabilities : 88,813 70,257 1,431,000,000
Total liabilities
: 3,414,121 3,158,215 4,019,000,000
Share equity : 5,042,974 4,004,848 6,221,000,000
Reserve : -35,000 -54,000
Retained earning :
5,027,974 4,008,848 5,099,000,000
Comments : The
non-consolidated financial information above relates to the Subject only.
The group’s
consolidated financial information above relates to the Subject’s
Intermediate
Holding Company Associated British Foods PLC and all its
subsidiaries which
include the Subject.
Main activities : The Subject is engaged in import &
distribution of pharmaceutical,
veterinary,
nutraceutical and food ingredients products.
The Subject was
formed as the regional office for SPI Pharma Inc. based in
United States of
America.
The Subject is a
wholly owned subsidiary of SPI Pharma Inc. which is
engaged in custom
formulation solutions for pharmaceutical and
nutraceutical
manufacturers.
SPI Pharma, Inc.
provides custom formulation solutions for pharmaceutical
and
neutriceutical, and animal health markets. The company offers
excipients,
including effervescent powders, fructose and maltose powders,
liquid sorbitol,
lubricants, mannitol, sorbitol, and specialty binders/buffers. It
also offers
antacid actives, such as coblend suspension products, DC
powders, aluminum
hydroxide dried gels, magnesium hydroxide pastes,
magnesium
hydroxide powders, and vaccine support products; and drug
delivery systems
and solutions.
It sells its
products through distributors in Americas, Europe, the Middle
East, Africa, and
the Asia Pacific. The company also engages in the
distribution of
pharmaceutical, veterinary, nutraceutical, and food
ingredients to
customers in Australia. SPI Pharma, Inc. was formerly known
as SPCA Barcroft.
The company was founded in 1930 and is based in
Wilmington,
Delaware. It has facilities in Lewes and New Castle, Delaware;
Septemes, France;
Grand Haven, Michigan; and Bengaluru, India.
Product & services : Pharmaceutical
ingredients: Active Pharmaceutical Ingredient, Excipients,
Drug Delivery
System
Food Ingredients:
Antioxidants, Bulking Agents – Maltodextrin, Dextrose,
Colours – Natural
& Artificial, Emulsifiers, Fibres, Flavours – Natural,
Nature Identical
& Artificial, Fruits and Vegetables Products - IQF, Puree,
Juice
Concentrates, Freeze Dried, Extracts., Hydrocollids, Preservatives –
Natural &
Synthetic, Proteins – Animal & Vegetable, Starches, Sweeteners
– Natural &
Synthetic, Vegetable Oils
Nutraceutical and
functional ingredients: Amino Acids, Antioxidants,
Bioflavonoids,
Carbohydrates, Co Enzyme Q10, Dietary Fibres, Dietary
Supplements,
Extracts, Fat Substitutes, Fruit & Vegetable Products – IQF,
Puree, Juice Concentrates,
Freeze Dried, Extracts., Functional lipids, Joint
Health
Ingredients, Minerals, Nutritive oils . Vegetable and Marine, Plant &
Herbal Extract,
Prebiotics, Probiotics, Proteins – Vegetable and Animal,
Sugar Substitutes,
Sweeteners, Vitamins
Animal health
ingredients: Amino Acids, Antioxidants, Emulsifiers, Nutritive
oils – Vegetable
and Marine Source, Proteins – Animal & Vegetable,
Starches,
Veterinary raw materials
Purchases
International :
Asia, Europe, United States
Sales
Local : Yes
International :
Asia, Europe, United States
Property & Assets
Premises : The
Subject operates from premises located at the verified heading
address consisting
of an administrative office and warehouse.
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
International :
L/C, Telegraphic 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.54.85 |
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1 |
Rs.88.39 |
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Euro |
1 |
Rs.72.63 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
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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 |
-- |
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.