MIRA INFORM REPORT
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Report Date : |
10.03.2012 |
IDENTIFICATION DETAILS
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Correct Name : |
ARROWCREST GROUP PTY. LTD. |
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Formerly Known As : |
RUBERY, OWEN & KEMSLEY PROPRIETARY LIMITED |
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Registered Office : |
34 Burleigh
Avenue, Woodville North , South Australia, Zip/postal code 5012 |
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Country : |
Australia |
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Date of Incorporation : |
19.11.1946 |
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Com. Reg. No.: |
007521280 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Manufacturing of alloy and steel wheels |
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No. of Employees : |
200 |
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 450,000 |
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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 30th, 2011
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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 |
Verified Address
Subject name : ARROWCREST GROUP PTY. LTD.
Other style /
Business name : ROH AUTOMOTIVE / ROH WHEELS AUSTRALIA
Business address : 28 Sheffield Street
Town : Woodville North
Province : South Australia
Zip/postal code : 5012
Country : Australia
Tel : +61 8 84684140
Fax : +61 8 84684101
Email : sales@roh.com.au
Website : www.roh.com.au
Registered address : 34 Burleigh Avenue
Town : Woodville North
Province : South Australia
Zip/postal code : 5012
Country : Australia
Comments : The provided name ROH AUTOMOTIVE is not
a registered entity in
Australia. ROH AUTOMOTIVE is a business name owned by ARROWCREST GROUP
PTY. LTD.
Executive Summary
Date founded or registered : 19/11/1946
Legal form : Australian Proprietary Company
Chief executive :
Andrew William Gwinnett
Issued & paid up capital : AUD 810,000
Line of business :
Manufacturing of alloy and steel
wheels. The Subject is divided into 2 divisions which is ROH Automotive and ROH
Wheels Australia.
Staff employed : 200 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 450,000
Credit amount asked : Not described.
Comments : It is advisable to conduct business
dealing on prepayment or L/C basis for larger credit transaction than
suggested. Although the Subject seems well positioned in the market and
financially stable as the Subject is part of a well organized conglomerate however
without official financial information it would be difficult to grant a large
credit amount. Our suggestion of credit is based on years of establishment,
nature of business, ownership background, estimated turnover etc.
Registry Data
Registration date : 19/11/1946
Legal form : Australian Proprietary Company
Registration no Australian
Company Number: 007521280
Registered authority : Australian Securities & Investments
Commission
Fiscal/ Tax no : Australian Business Number: 71007521280
Registry status : Live/Active
Previous name : ROH INDUSTRIES PTY. LTD.
RUBERY, OWEN & KEMSLEY PROPRIETARY LIMITED (initial)
Change of legal form : None reported.
Other registration ROH AUTOMOTIVE is a business name owned by
the Subject
registered on 25/06/2010 under the business registration no: SA 0429616A.
ROH WHEELS
AUSTRALIA is a business name owned by the Subject under the business
registration no: VIC 1172045H / NT 57238B / NSW R1169609 / TAS 99368B /
QLD BN19153030 / WA BN11407621 / SA BN05034735.
Key Management
Name : Andrew William Gwinnett
Designation : Managing
Director
Name : Allen Elliott Bolaffi
Designation : Director
Name : William Hugh Laidlaw Davidson
Designation : Director
Appointments
Name : Andrew
William Gwinnett
Designation : Director
Appointment date : 27/04/72
Address : 229
Stanley Street
North Adelaide, SA 5006
Australia
Biography : Born
on 02-05-1944 in Staffordshire, United Kingdom.
Name : Allen
Elliott Bolaffi
Designation : Director and Company Secretary
Appointment date : 01/07/03
Address : 8
Penarth Avenue
Beaumont, SA 5066
Australia
Biography : Born
on 14-10-1956 in Adelaide, South Australia, Australia.
Name : William
Hugh Laidlaw Davidson
Designation : Director
Appointment date : 15/02/08
Address : 4
Church Avenue
Norwood, SA 5067
Australia
Biography : Born
on 28-04-1961 in North Adelaide, South Australia, Australia.
Staff employed : 200 employees
Composition
Authorized Capital : AUD 810,000
No of shares : 405,000 Ordinary Shares
Share par value : AUD 2
Issued capital : AUD 810,000
Paid up capital : AUD 810,000
How listed : Full List
Composition
Shareholder name : AROH CORPORATION PTY. LTD.
Address : 34 Burleigh Avenue
Woodville North, SA 5012
Australia
No. of shares : 300,000 Ordinary Shares
Shareholder name : G.C.F. INVESTMENTS PTY. LTD.
Address : 91 King William Street
Adelaide, SA 5000
Australia
No. of shares : 105,000 Ordinary Shares
Structure
Name G.C.F. INVESTMENTS PTY. LTD.
Affiliation type Ultimate Holding Company
Address 91 King William Street
Adelaide, SA 5000
Australia
Name AROH CORPORATION PTY. LTD.
Affiliation type Parent Company
Address 34 Burleigh Avenue
Woodville North, SA 5012
Australia
Name NONFERRAL PTY LIMITED
Affiliation type Subsidiary
Address 23 Davis Road
Wetherill Park, Nsw 2164
Australia
Name JOHN SHEARER (HOLDINGS) LIMITED
Affiliation type Subsidiary
Address Share Street
Kilkenny, SA 5009
Australia
Name JOHN SHEARER LIMITED
Affiliation type Subsidiary
Address Share Street
Kilkenny, SA 5009
Australia
Name FLOCAST AUSTRALIA PTY. LTD.
Affiliation type Subsidiary
Address Factory 2, 105 Newlands Road
Coburg, VIC 3058
Australia
Name BROWNBUILT PTY LIMITED
Affiliation type Subsidiary
Address Lot 2, 1 Box Road
Caringbah, NSW 2229
Australia
Name KOCKUMS INDUSTRIES (AUSTRALIA) PTY LTD
Affiliation type Subsidiary
Address 188 Northbourne Road
Campbellfield, VIC 3061
Australia
Name TRISTAR STEERING AND SUSPENSION AUSTRALIA LIMITED
Affiliation type Subsidiary
Address 15 Carrington Road
Marrickville, NSW 2204
Australia
Name R.O.H. AUTO PRODUCTS PHILS. INC.
Affiliation type Associate
Address M Alvarez Avenue
Las Pinas, Metro Manila
Philippines
Bank Details
Name of bank : National Australia Bank Limited
Address : Australia
Account details : Current Account
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 Charges:
ASIC Charge Number: 128292
Date Registered: 05-08-1974
Date Created: 10-07-1974
Chargees Name: WESTPAC BANKING CORPORATION
Legal Fillings
Bankruptcy fillings : None reported.
Court judgements : None reported.
Tax liens : None reported.
Others : None reported.
Description
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.
The Subject meets
all the criteria to disclose it's financials however is still exempted to file
for their financial statement by Australian Securities & Investments
Commission.
On a separate
note, external sources states that the estimated annual turnover of the Group
is AUD 100 million to 120 million.
Main activities : The Subject is engaged is the
manufacturing of alloy and steel wheels. The Subject is divided into 2
divisions which is ROH Automotive and ROH Wheels Australia.
ROH Automotive
supplies original equipment alloy and steel wheels to Toyota, TRD, Mitsubishi,
Ralliart, HSV/Elfin/Walkinshaw and Suzuki. Contracts have been won with GMH,
Opel in Germany, Chevrolet in the USA, Nissan in Japan and Mexico, Honda,
Daihatsu, Isuzu, Toyota and Suzuki in Japan and Mitsubishi and Honda in
Thailand. ROH Automotive was established in 1946 at Woodville North by the
British manufacturer, The Owen Organisation and the international financier,
Tozer Kemsley and Milbourn Ltd of London. It was known as Rubery Owen &
Kemsley Pty Ltd and was changed to Rubery Owen Holdings Pty Ltd (ROH/Arrowcrest
Group Pty Ltd). Since then it has grown and advanced in both size and products
manufacturing various other automotive components including steel truck rims.
ROH Wheels
Australia is Australia's aftermarket wheel manufacturer. Through innovative
designs, world-class manufacturing techniques and unrivalled quality, ROH
Wheels Australia exports to Germany, Japan, New Zealand and the USA. The
manufacturing facility incorporates the most advanced techniques available,
ensuring that the Subject achieve and maintain engineering excellence. ROH
wheels are subjected to the most stringent testing regimes necessary, to comply
with the demanding specifications set by various testing authorities worldwide
including Australian Standard AS1638. The Subject has a large range of alloy
wheel styles and fitments for a range of vehicles in both the Australian and
International markets. The product range also includes steel wheels for trailers
and caravans, white and chrome steel wheels for 4WD passenger and commercial
vehicles and a range of products including steel and alloy truck rims for the
heavy-duty truck market.
Purchases
International : Asian countries
Sales
Local : Yes
International : Japan, Thailand, United States,
Germany, New Zealand, Mexico
Property & Assets
Premises : The Subject operates from premises
located at the verified heading
address consisting of production
facilities, warehouse, administrative office.
Branches : In addition, the Subject operates from branch locations located at:
63-73 Jedda Road
Prestons, NSW 2170
Australia
Tel: +61 2 98259339
188 Northbourne Road
Campbellfield, VIC 3061
Australia
Tel: +61 3 93051992
2/66 Kabi Circuit
Deception Bay, QLD 4508
Australia
Tel: +61 7 32032055
Unit 1/33 Alexandra Place
Bentley, WA 6102
Australia
Tel: +61 8 94517114
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: 4.0% 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 :
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%
Purchase Term
Local : Prepayment, Bank transfer, Credit 30-90
days
International : L/C, Prepayment, Telegraphic transfer,
Credit up to 120 days
Sales Term
Local : Prepayment, Bank transfer, Credit 30-90
days
International : L/C, Prepayment, Telegraphic transfer,
Credit up to 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.50.02 |
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UK Pound |
1 |
Rs.79.00 |
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Euro |
1 |
Rs.66.18 |
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.