MIRA INFORM REPORT
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Report Date : |
16.06.2012 |
IDENTIFICATION DETAILS
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Name : |
ILUKA RESOURCES LIMITED |
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Formerly Known As : |
WESTRALIAN SANDS LIMITED |
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Registered Office : |
Level 23, 140 St Georges Terrace, |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
21.07.1954 |
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Com. Reg. No.: |
008675018 |
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Legal Form : |
Australian Public Company |
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Line of Business : |
Mineral sands exploration,
project development, operations and marketing. |
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No. of Employees : |
1,600 employees (Iluka
Group) |
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 : |
Good |
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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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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 : ILUKA RESOURCES LIMITED
Business address : Level 23, 140 St Georges Terrace
Town :
Province :
Zip/postal code : 6000
Country :
Tel : +61 8 93604700
Fax : +61 8 93604777
Website : www.iluka.com
Registered address : Level 23, 140 St Georges Terrace
Town :
Province :
Zip/postal code : 6000
Country :
Postal address : GPO
Town :
Province :
Zip/postal code : 6845
Country :
Executive Summary
Date founded or registered : 21/07/1954
Legal form : Australian Public
Company
Chief executive : David Alexander Robb
Issued & paid up capital
: AUD 114,000,000
Sales turnover : AUD 1,631,400,000 (Consolidated 12
months, 31/12/2011)
Net income : AUD 541,800,000
(Consolidated 12 months, 31/12/2011)
Total fixed assets : AUD 2,453,800,000
(Consolidated 12 months, 31/12/2011)
Line of business : Mineral sands exploration,
project development, operations and marketing.
Staff employed : 1,600 employees (Iluka
Group)
Company Analysis
Country risk : Country risk is
minimal
Operation trend : Operational trend is
booming
Management experience : Management is adequately experienced
Financial performance : Financial performance is very
good
Organization structure : Organizational structure is consistent
Detrimental : No detrimental records found
Payment history : No payment delays noted
Comments : Larger credit can still be considered.
Registry Data
Registration date : 21/07/1954
Legal form : Australian Public Company
Registration no Australian Company Number:
008675018
Registered authority : Australian Securities and Investments
Commission
Fiscal/ Tax no : Australian Business Number:
34008675018
Registry status : Live/Active
Previous name : WESTRALIAN SANDS LIMITED (initial)
Change of legal form : None reported.
Key Management
Name : David Alexander Robb
Designation : Managing Director
Name : Alan Tate
Designation : Chief Financial Officer
Name : Steve Wickham
Designation : General Manager, Australian Operations
Name : Hans Umlauff
Designation : General Manager, Project Management
Name : Christopher Cobb
Designation : General Manager for Sales and Marketing
Appointments
Name : George John Pizzey
Designation : Chairman
Appointment date : 07/11/05
Address : royal Domain Tower, Unit 2902
368 St
Kilda Road
Melbourne,
VIC 3004
Australia
Biography :
Born on 28/07/1945 in
Melbourne, Victoria, Australia.
Mr. George John Pizzey, BE
(Chem), FellDip (Management), FTSE,
FAICD, FAIM, has been
Non-Executive Independent Chairman of the
Board of Iluka Resources
Limited since May 19, 2010. He has been
on the Company's Board since
November 7, 2005. He is Member of
the Remuneration and
Nomination Committee of the Company. He
has experience in mining and
mineral processing. Mr. Pizzey was
Chairman of Alcoa of
Australia Limited and held a number of senior
executive positions at Alcoa
Inc (USA). He is Director of Alumina
Limited, Amcor Limited and
St. Vincent's Medical Research Institute.
He was formerly Chairman of
the London Metal Exchange UK and a
Director of WMC Resources
Limited and Ivanhoe Grammar School.
He has served as Director of
Alumina Limited (appointed June 2007)
and Amcor Limited (appointed
September 2003).
Name : David Alexander Robb
Designation : Director
Appointment date : 18/10/06
Address : 43 Minora Road
Dalkeith, WA 6009
Australia
Biography
:
Born on 04/07/1954 in Melbourne, Victoria,
Australia.
Mr. David Alexander Robb, BSc, GradDip
(Personnel Administration),
FAIM, FAICD, has been Chief Executive
Officer, Managing Director
and Executive Director of Iluka Resources
Limited since October 18,
2006. Mr. Robb was previously Managing
Director of Wesfarmers
Energy as well as Executive Director of
Wesfarmers Limited. Prior to
joining Wesfarmers, he held senior
positions with British Petroleum in
Australia and overseas, including chief
executive responsibilities for a
national service business in the United
States for oil, chemicals,
consumer goods, marine and aviation
businesses in Malaysia and as
Director responsible for oil marketing
throughout South East Asia. He
served as Director of Consolidated Rutile
Limited from October 2006
to May 2009. He holds a Bachelor of
Science degree from the
University of Western Australia.
Name : Jennifer
Anne Seabrook
Designation : Director
Appointment date : 01/05/08
Address : 29 Airlie Street
Claremont, WA 6010
Australia
Biography
:
Born on 19/01/1957 in Katanning, Western
Australia, Australia.
Ms. Jennifer (Jenny) Anne Seabrook, BCom,
ACA, FAICD, has been
Non-Executive Independent Director of
Iluka Resources Limited since
May 1, 2009. She is Chairman of the Audit
and Risk Committee and
Member of the the Remuneration and
Nomination Committee of the
Company. She is Special Advisor to
Gresham Partners Limited. She
is also Non-Executive Director of the
Bank of Western Australia
Limited, M G Kailis Holdings Pty Limited,
IRESS Market Technology
Ltd and Australia Post. Ms. Seabrook is
Member of the Takeovers
Panel and Financial Advisory Group of the
Financial Services
Institute of Australia (FINSIA) and
Member of ASIC's External
Advisory Group. She was formerly Director
of West Australian
Newspapers Holdings Limited, BWA Managed
Investments Limited,
St. Andrew's Superannuation Services
Limited and Western Power.
She has served as Director of IRESS
Market Technology Limited
(appointed August 2008) and Amcor Limited
(appointed December
2011). She also acted as Director of West
Australian Newspaper
Holdings Limited (appointed February
2006, resigned December
2008). She holds a Bachelors degree in
Commerce from the
University of Western Australia.
Name : Wayne
Geoffrey Osborn
Designation : Director
Appointment date : 26/03/10
Address : 26B Fraser Road
Applecross,
WA 6153
Australia
Biography
:
Born on 14/09/1951 in Stawell, Victoria,
Australia.
Mr. Wayne Geoffrey Osborn, DipEng, MBA,
FTSE, MIE(Aust),
FAICD, has been Non-Executive Independent
Director of Iluka
Resources Limited since March 26, 2010.
Mr. Osborn is Chairman of
the Remuneration and Nomination Committee
of the Company. Mr.
Osborn is a former Managing Director of
Alcoa of Australia Limited.
He is a non-executive Director of
Leighton Holdings Limited and
Wesfarmers Limited, Chairman of Thiess
Pty Limited, Chairman of
the Australian Institute of Marine
Science, a Director of the
International Centre for Radio Astronomy
Research and a Trustee of
the Western Australian Museum. He was
formerly a Director of the
Australian Business Arts Foundation and
Vice President of the
Chamber of Commerce and Industry, Western
Australia. He has
served as Director of Leighton Holdings
Limited (appointed 6
November 2008) and Wesfarmers Limited
(appointed 24 March
2010).
Name : Stephen
John Turner
Designation : Director
Appointment date : 26/03/10
Address : Unit 7, 4 Billyard Avenue
Elizabeth Bay, NSW
2011
Australia
Biography
:
Born on 28/04/1961 in Gosford, New South
Wales, Australia.
Mr. Stephen John Turner, BCom, ACA, has
been Non-Executive
Independent Director of Iluka Resources
Limited since March 26,
2010. He is Member of the Audit and Risk
Committee of the
Company. Mr. Turner is Founder of the
London Stock Exchange
listed company, International Ferro
Metals Limited. He was Chief
Executive Officer of International Ferro
Metals Limited from 2002 to
2009 and continues as Non-Executive
Director of that Company. He
is also Director of South American Ferro
Metals Limited and
Chairman of Vantage Goldfields Limited.
Mr. Turner has had
responsibility for resource projects in
Australia, Africa and the Pacific
Islands. He was Founding Director of the
Australian subsidiary of
PSG Investment Group, a South African
investment bank. He is an
Australian Chartered Accountant. He has
also served as Director of
International Ferro Metals Limited
(appointed 26 January 2002),
Vantage Goldfields Limited (appointed 22
October 2009), South
American Ferro Metals Limited (appointed
11 November 2010), and
Timpetra Resources Limited (appointed May
2010).
Name : Gavin
Rezos
Designation : Director
Appointment date : 20/06/06
Address : 19 John Street
Cottesloe, WA 6011
Australia
Biography :
Born on 13/04/1961 in Perth,
Western Australia, Australia.
Mr. Gavin John Rezos, BA,
LLB, B.JURIS, MAICD, has been
Non-Executive Independent
Director of Iluka Resources Limited since
June 2006. He is Member of
the Audit and Risk Committee and the
Remuneration and Nomination
Committee of the Company. He has
Australian and international
investment banking experience and is
former Investment Banking
Director of the HSBC Group with regional
roles during his HSBC career
based in London, Sydney and Dubai.
Mr. Rezos has held Chief
Executive positions and executive
directorships of companies in
the healthcare and technology areas in
the UK, United States and
Singapore and was formerly
Non-Executive Director of
Amity Oil NL (Antares). He is Chairman of
Alexium International Group
Limited, a principal of Viaticus Capital
Pty Ltd and Director of
Rowing Australia. He is Director of Alexium
International Group Limited
(appointed March 2010) and DFS
International Holdings
Limited (appointed November 2008, resigned
30 August 2011). He holds a
Bachelors degree in Law and a
Bachelor of Arts degree in
International Politics from the University of
Western Australia.
Name : Cameron Wilson
Designation : Company Secretary
Appointment date : 08/12/04
Address : 46 Locke Crescent
East
Fremantle, WA 6158
Australia
Biography :
Born on 29/08/1966 in
Melbourne, Victoria, Australia.
Mr. Cameron Wilson, LLB,
GAICD, is General Manager of Corporate
Services and Company
Secretary of Iluka Resources Limited. Mr.
Wilson was appointed to the
position of Company Secretary when he
joined the Company in 2004.
Before joining Iluka, Mr. Wilson held a
range of legal and commercial
roles at WMC Resources Limited and
prior to that worked as
Solicitor with a legal practice. He has
specialised in mining,
corporate and general commercial law for most
of his professional career.
Staff employed : 1,600
employees (Iluka Group)
Key Advisors
Auditors : PRICEWATERHOUSECOOPERS
QV1
Building, Level 19-21
250 St
Georges Terrace
Perth, WA
6000
Australia
Composition
Authorized Capital : AUD 114,000,000
No of shares : 38,000,000 Ordinary Shares
Share par value : AUD 3
Issued capital : AUD 114,000,000
Paid up capital : AUD
114,000,000
How listed : Major Shareholders Only
Composition
Shareholder name : BLACKROCK INVESTMENT MANAGEMENT
(AUSTRALIA) LIMITED
Address : Level 18, 120 Collins
Street
Melbourne,
VIC 3000
Australia
% of shares : 10.60%
Shareholder name : FMR LLC AND FIL LIMITED
% of shares : 6.15%
Shareholder name : NATIONAL AUSTRALIA BANK LIMITED
Address : Level 34, 500 Bourke Street
Melbourne,
VIC 3000
Australia
% of shares : 5.16%
Shareholder name : M&G INVESTMENT MANAGEMENT LIMITED
Address : Laurence Pountney Hill
London,
EC4R 0HH
United
Kingdom
% of shares : 8.78%
Comments : The Subject was listed on the
Australian Stock Exchange (ASX) on the 30th of
June 1962.
Name : WESTLIME
(WA) LIMITED
Affiliation type : Wholly-owned
Subsidiary
Address : Level 23, 140 St Georges Terrace
Perth, WA 6000
Australia
Name : ILMENITE
PROPRIETARY LIMITED
Affiliation type : Wholly-owned
Subsidiary
Address : Level 23, 140 St Georges Terrace
Perth, WA 6000
Australia
Name : WESTERN
MINERAL SANDS PROPRIETARY LIMITED
Affiliation type : Wholly-owned
Subsidiary
Address : Level 23, 140 St Georges Terrace
Perth, WA 6000
Australia
Name : ASSOCIATED
MINERALS CONSOLIDATED LTD
Affiliation type : Wholly-owned
Subsidiary
Address : Level 23, 140 St Georges Terrace
Perth, WA 6000
Australia
Name : ILUKA
CONSOLIDATED PTY LIMITED
Affiliation type : Wholly-owned
Subsidiary
Address : Level 23, 140 St Georges Terrace
Perth, WA 6000
Australia
Name : ILUKA
EXPLORATION PTY LIMITED
Affiliation type : Wholly-owned
Subsidiary
Address : Level 23, 140 St Georges Terrace
Perth, WA 6000
Australia
Name : ILUKA
RESOURCES INC.
Affiliation type : Wholly-owned
Subsidiary
Address : 1301 Riverplace Boulevard, Suite 2601
Jacksonville, Florida
32207
United States
Name : ILUKA
INTERNATIONAL (BRAZIL) PTY LTD
Affiliation type : Wholly-owned
Subsidiary
Address : Level 23, 140 St Georges Terrace
Perth, WA 6000
Australia
Name : ASHTON
COAL INTERESTS PTY. LIMITED
Affiliation type : Subsidiary
Address : Level 23, 140 St Georges Terrace
Perth, WA 6000
Australia
Name : BASIN
MINERALS HOLDINGS PTY LTD
Affiliation type : Wholly-owned
Subsidiary
Address : Level 23, 140 St Georges Terrace
Perth, WA 6000
Australia
Related
companies and corporate affiliations comments
Other companies of the Iluka Group should be considered affiliates of the Subject.
BANK & MORTGAGES
Bank Details
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 : None
reported.
Legal Fillings
Bankruptcy fillings : None reported.
Court judgements : None reported.
Tax liens : None reported.
Others : None reported.
Description
Source of financial statement
: Public Record Sources
Financial statement date : 31/12/11
Type of accounts : Full audited
Currency : Australia Dollar
(AUD)
Exchange rate : 1 USD = AUD 0.99 as of
16-06-2012
Summarized
Financial Information
Consolidation type : Consolidated Consolidated
Currency : Australia Dollar
(AUD) Australia Dollar (AUD)
Denomination : (x1) One (x1) One
Date of financial year end : 31/12/11 31/12/10
Length of accounts : 12 months 12 months
Sale turnover / Income : 1,631,400,000 964,100,000
Profit before tax : 760,700,000 39,900,000
Net income : 541,800,000 36,100,000
Non current assets : 1,500,300,000 1,544,000,000
Current assets 953,500,000 395,900,000
Inventories : 376,200,000 201,000,000
Total assets : 2,453,800,000 1,939,900,000
Current liabilities : 364,400,000 188,100,000
Non current liabilities : 554,700,000 627,200,000
Total liabilities : 919,100,000 815,300,000
Share equity 400,000 20,400,000
Retained earning : 416,300,000 -4,100,000
Comments : The consolidated
financial information above relates to the Subject and its subsidiaries.
Main activities :
The Subject engages in exploration, development, mining, and marketing
of mineral sands primarily in Australia and the United States. Subject also has
royalty over iron ore produced from specific parts of BHP Billiton's Mining
Area C in Western Australia.
The Subject principally produces zircon; titanium dioxide products
of rutile and synthetic rutile; and ilmenite.
The subject’s products are used in various consumer, lifestyle,
and industrial applications, including pigment production used in paints,
plastics, papers, titanium metal production, welding electrodes, floor and
wall tiles, sanitary ware, zirconium based chemicals, and zirconia
metal applications.
Its mining operations are located in Jacinth-Ambrosia, Eucla
Basin, South Australia; Perth Basin, Western Australia; Murray Basin, Victoria,
Australia; and Virginia, the United States.
Iluka Resources Limited was founded in 1954 and is based in Perth,
Australia.
Product &
services :
Titanium dioxide products: rutile, synthetic rutile, ilmenite
Zircon
Purchases
Local : Yes
International : Asian countries, Europe, United States
Sales
Local : Yes
International : Worldwide
Key events : 23 May 2012
Iluka Resources Limited: Iluka Says 1Q Zircon Sales Soft, But Sees
Higher 2012 Earnings
Australian mineral sands producer Iluka Resources Ltd. (ILU.AU)
Wednesday said its sales of zircon in the first three months of 2012 were soft,
but that the company continues to expect a considerable rise in earnings and
free cash flow this year and will likely maintain a "cash buffer"
until the current global economic turmoil eases.
In an address to shareholders, Managing Director David Robb said
global economic conditions remain challenging. While the company doesn't
publish revenue figures until its June quarter report, he confirmed
first-quarter zircon sales were weighed by global economic worries and the
cooling of the Chinese economy.
Shipment "timing issues" for Iluka's titanium
dioxide products also meant a substantial
volume of its first-quarter output wasn't shipped, he said, without elaborating.
Robb said there has been some signs
of improved economic traction in major economies like the U.S. and China, but
that European demand remains subdued and may be at risk of deteriorating
further if the sovereign debt crisis in the eurozone worsens.
"However, a positive sign is that European customer zircon
sand stocks are almost exhausted, which should now require replenishment,"
he said. "We still expect a material increase in earnings and free cash
flow in 2012," he said. "Iluka will maintain a prudent balance sheet.
This may entail a 'cash buffer' until the level of global turmoil
recedes," Robb said. Iluka is the world's largest zircon producer,
accounting for about a third of global market share, and one of the biggest
producers of titanium dioxide minerals. Zircon has a number of
applications, ncluding in ceramics,
while titanium dioxide is predominantly used for producing pigments. The two
mineral sands are Iluka's main products. Earlier this month, Iluka announced it
would reduce planned zircon output this year due to continued global economic
uncertainty, a move that will mean lower sales of the commodity for the full
year, and a rise in production costs. Still, Robb said zircon prices are
holding steady around US$2,400 a metric ton. Interest in bulk orders also
appears to be resuming, he said. Iluka's share price moved slightly higher
after Robb's remarks. It recently traded at A$13.32 a share, down 2.8% on
Tuesday's close but up 2.2% on its earlier session low. The price reached an
intraday high at A$13.49 a share. The ASX 200, meanwhile, was trading down
1.1%.
7 May 2012
Iluka Resources Limited : Iluka Resources To Cut Planned Zircon
Production This Year
Australian mineral sands producer Iluka Resources Ltd. (ILU.AU)
Tuesday said that it would reduce planned zircon output this year due to
continued global economic uncertainty, a move that will mean lower sales of the
commodity and a rise in production costs.
The Perth-based company expects to produce around 430,000 metric
tons of zircon, less than the 500,000 tons it forecast in February and a
further drop from the 601,000 it produced last year, it said in a statement.
Sales of zircon for the year are expected to total around 400,000 tons, rather
than the 450,000 previously forecast.
The company left its guidance for production and sales of titanium
dioxide unchanged.
Iluka is the world's largest zircon producer, with about a third
of global market share, and one of the biggest producers of titanium
dioxide minerals. Zircon has a number of
applications, including in ceramics.
Titanium
dioxide is predominantly used to produce pigments.
Iluka had previously cautioned that demand for zircon was likely
to be soft for the first quarter or two of 2012. It said that sales volumes
improved in April following a weak first quarter, but large euro-zone countries
facing austerity measures have shown increasing weakness even as the U.S. and
China showed signs of improved economic traction. The adjustment to zircon
output will be achieved mainly through mining lower-grade ore at Iluka's
Jacinth-Ambrosia operation in South Australia and processing less zircon-rich
concentrate at its Narngulu and Hamilton mineral separation plants, Iluka said.
Lower zircon output is expected to raise unit cash costs for production to
roughly A$700 a ton of zircon, rutile and synthetic rutile, from previous
guidance of about A$650/ton. But Iluka said revenue per ton it expects to
receive will still mean a material increase in margins over 2011.
16 January 2012
Iluka Resources: Revenues jump by 75%, but I’m steering clear luka
Resources Limited (ASX:ILU) revenues are growing quickly, but lower zircon
production and sales levels in 2012 is the warning sign that this may be as
good as it gets.
Iluka Limited released its quarterly production report on 12
January 2012. The 75 per cent increase in revenues from $874.4m to $1,536.7m
was mainly thanks to an 83 per cent increase in zircon and titanium dioxide
prices.
Full year 2011 sales revenue per tonne of zircon/rutile and synthetic
rutile (Z/R/SR) was A$1,480/tonne compared with A$809/ tonne in 2010. This was
partially offset by a higher Australian/US Dollar exchange rate (2011 average
was 103.2 cents compared with 2010 average of 92 cents).
Full year cash costs of production are estimated at A$537/tonne,
which compares favourably with 2010 costs of A$539/tonne.
The company Iluka is one of the world’s largest producers of
mineral sands products.
The company engages in the exploration, mining, concentration, and
separation of mineral sands.
It produces and sells titanium based products (ilmenite, rutile
and synthetic rutile) and zircon. The company’s products are used in a range of
consumer, lifestyle, and industrial applications, including pigment production
used in paints, plastics, papers, titanium metal production, welding
electrodes, floor and wall tiles, sanitary ware, zirconium based chemicals, and
zirconia metal applications.
Property &
Assets
Premises :
The Subject operates from
premises located at the verified heading address consisting of an
administrative office.
Branches : In addition, the
Subject operates from branch offices located at:
South West, Western Australia
PO Box 96
Capel, WA 6271
Australia
Tel: +61 8 93604700
Mid West – Narngulu, Western Australia
PO Box 84
Geraldton, WA 6531
Australia
Tel: +61 8 93604700
Murray Basin, Victoria
Locked Bag 1001
Hamilton, VIC 3300
Australia
Tel: +61 3 55512300
Adelaide , South Australia
11 Dequetteville Terrace
Kent Town, SA 5067
Australia
Tel: +61 8 83002000
Central bank : Reserve Bank of Australia
Reserve of foreign exchange & gold : US$ 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
Local : Prepayment, Bank
transfer, D/P, Credit 30-120 days
International : L/C, Prepayment, Telegraphic
transfer, D/P, Credit 30-120 days
Sales Term
Local : Prepayment, Bank
transfer, D/P, Credit 30-120 days
International : L/C, Prepayment, Telegraphic
transfer, D/P, Credit 30-120 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.55.76 |
|
UK Pound |
1 |
Rs.86.69 |
|
Euro |
1 |
Rs.70.44 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.