MIRA
INFORM REPORT
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Report Date : |
12.02.2012 |
IDENTIFICATION DETAILS
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Name : |
OTTER GROUP PTY LTD |
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Registered Office : |
1808 Princes Highway, Clayton, Victoria, 3168 |
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Country : |
Australia |
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Date of Incorporation : |
11.12.1951 |
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Com. Reg. No.: |
Company Number: 004295130 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Import & distribution of nails,
screws, wire products and sheet metal products. |
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No. of Employees : |
125 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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Maximum Credit Limit : |
USD 280,000 |
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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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 |
IDENTIFICATION DETAILS
Verified Address
Subject name : OTTER GROUP PTY LTD
Business address : 1808 Princes Highway
Town : Clayton
Province : Victoria
Zip/postal code : 3168
Country : Australia
Tel : +61 3 95381288
Fax : +61 3 95381234
Email : sales@otter.com.au
Website : www.otter.com.au
Registered address : 1808 Princes Highway
Town : Clayton
Province : Victoria
Zip/postal code : 3168
Country : Australia
SUMMARY DETAILS
Executive Summary
Date founded or registered :
11/12/1951
Legal form :
Australian Proprietary Company
Chief executive : Raymond John Otter
Issued & paid up capital :
AUD 23,300
Sales turnover : AUD 35,000,000 (Estimated
Non-consolidated 12 months, 30/06/2011)
Line of business :
Suppliers of common nails, gun nails, screws and wire and sheet metal
products. Staff employed : 125 employees
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 good
Organization structure : Organizational structure is stable
Detrimental : No
detrimental records found
Payment
history : No payment delays noted
Credit amount suggestion : USD 280,000
Credit amount asked : USD 100,000
STATUTORY DETAILS
Registry Data
Registration
date : 11/12/1951
Legal
form : Australian Proprietary Company
Registration
no Australian Company Number: 004295130
Registered
authority : Australian Securities and Investments
Commission
Fiscal/
Tax no : Australian Business Number: 90004295130
Registry
status : Live/Active
Previous
name :
OTTER NAILS PROPRIETARY LIMITED CEPCO
HARDWARE PROPRIETARY LIMITED HULSWIT AND WINSTON PROPRIETARY LIMITED HULSWIT
AND WINSTON LIMITED (initial)
Change of legal form : None reported.
MANAGEMENT / DIRECTORS
Key Management
Name : George Varelas
Designation : Chief Executive Officer
BOARD OF DIRECTORS/ OTHER APPOINTMENTS
Appointments
Name : Raymond John Otter
Designation : Chairman
Appointment
date : 04/05/77
Address : 11 Redleaf Way
Wheelers Hill, VIC 3150
Australia
Biography : Born on 28-07-1941 in Melbourne,
Victoria, Australia.
Name : Glenn Andrew Otter
Designation : Director and Company Secretary
Appointment
date : 10/11/05
Address : 65 Mary Street
Richmond, VIC 3121
Australia
Biography : Born on 22-03-1972 in Caulfield, Victoria, Australia.
Staff
employed : 125 employees
Key Advisors
Auditors : PITCHER
PARTNERS
15 William Street
Melbourne, VIC 3000
Australia
SHARE CAPITAL
Composition
Authorized
Capital : AUD 23,300
No
of shares : 2,650 Class A Shares / 9,000 Class B
Shares
Share
par value : AUD 2
Issued
capital : AUD 23,300
Paid up capital : AUD 23,300
OWNERSHIP / SHAREHOLDERS
How
listed : Full List
Composition
Shareholder
name : OTTER HOLDINGS AUSTRALIA PTY LTD
Address : 1808 Princes Highway
Clayton, VIC 3168
Australia
No.
of shares : 2,650 Class A Shares / 9,000 Class B
Shares
% of shares : 100%
RELATED COMPANIES &
CORPORATE AFFILIATIONS
Structure
Name : OTTER FENCING PROPRIETARY LIMITED
Affiliation
type :
Ultimate Holding Company
Address :
1808 Princes Highway
Clayton VIC 3168
Australia
Comments : Manufacturing
of Chain-Link fabric for security fencing and gates with the latest automated
machinery and can supply only or supply and install to suit a wide range of
fencing applications, including Tubular Panel fencing and gates.
Name : OTTER HOLDINGS AUSTRALIA PTY LTD
Affiliation
type :
Parent Company
Address :
1808 Princes Highway
Clayton VIC 3168
Australia
BANK & MORTGAGES
Bank Details
Name
of bank : Westpac Banking Corporation
Address :
Australia
Account
details :
Current Account
Name
of bank : National Australia Bank 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 : Satisfied
Charges:
ASIC
Charge Number: 69115
Date
Registered: 13-03-1986
Charge
type: Fixed
Date
Created: 26-02-1986
Chargees
Name: GE FINANCE AUSTRALASIA PTY LTD
ASIC
Charge Number: 69132
Date
Registered: 29-05-1986
Charge
type: Fixed
Date
Created: 12-05-1986
Chargees
Name: GE FINANCE AUSTRALASIA PTY LTD
ASIC
Charge Number: 320268
Date
Registered: 22-11-1991
Charge
type: Both Fixed & Floating
Date
Created: 06-11-1991
Chargees
Name: WESTPAC BANKING CORPORATION
ASIC
Charge Number: 437818
Date
Registered: 09-05-1994
Charge
type: Both Fixed & Floating
Date
Created: 30-03-1994
Chargees
Name: NATIONAL AUSTRALIA BANK LIMITED
ASIC
Charge Number: 726205
Date
Registered: 01-12-1999
Charge
type: Fixed
Date
Created: 15-10-1999
Chargees
Name: DONOVAN, BERYL FLORENCE
Legal Fillings
Bankruptcy
fillings : None reported.
Court
judgements : None reported.
Tax
liens : None reported.
Others : None reported
FINANCIAL DATA
Description
Source
of financial statement : External Sources
Financial
statement date : 30/06/11
Type
of accounts : Estimated key figures
Currency : Australia Dollar (AUD)
Exchange
rate : 1 USD = AUD 0.93 as of 09-02-2012
Summarized Financial
Information
Consolidation type : Non
Consolidated
Currency : Australia
Dollar (AUD)
Denomination : (x1)
One
Date of financial year end:
30/06/11
Length of accounts : 12
months
Sale turnover / Income : 35,000,000
Comments : 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 $12.5 million, and
-The
company and any entities it controls have fewer than 50 employees at the end of
the financial year.
OPERATION DETAILS
Main activities : The Subject is engaged in import &
distribution of nails, screws, wire products and sheet metal products.
The
Subject products are distributed via
leading hardware and industrial outlets throughout Australia.
Product
& services : Nails
Screws
Wire products
Sheet metal
Brand : OTTER, TITAN, SCREWFIX, NATIONAL
Purchases
International : China,
Taiwan, India, Indonesia
Sales
Local : Yes
International : Pacific
Islands
Property &
Assets
Premises :
The Subject operates from premises
located at the verified heading address consisting of administrative office and
warehouse.
Branches : None reported.
SUMMARIZED COUNTRY RISK
Gross Domestic
Products (GDP) & Economic Overview
Central
bank : Reserve Bank of Australia
Reserve
of foreign exchange & gold : US$ 43.879 billion
Gross
domestic product - GDP : US$ 1.448 trillion
GPP
(Purchasing power parity) : 918.529 billion of International
dollars
GDP
per capita - current prices : US$ 64,351
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%
Public
debt
(General
Government gross debt as a % GDP)
:
2008: 11.6%
2009: 17.6%
2010: 22.3%
Government
bond ratingsStandard & 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 Westpac Banking Group (Major Banks), BHP Billiton
(Diversified Metals & Mining), Commonwealth Bank (Major Banks), National
Australia Bank (Major Banks), ANZ Banking (Major Banks), Telstra
(Telecommunications services), Wesfarmers (Food Retail)
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$46,722 million
2009: US$22,572 million
2010: US$32,472 million
FDI
Outflows : 2008: US$32,819 million
2009: US$18,426 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 : 76.00%
PAYMENT HISTORY
Purchase Term
International : Prepayment,
Telegraphic transfer, Credit 30-60 days
Sales Term
Local : Prepayment, Credit 30-60 days
International : Prepayment,
Telegraphic transfer, 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
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.64 |
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1 |
Rs.78.35 |
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Euro |
1 |
Rs.65.79 |
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.