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Report Date : |
21.03.2012 |
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Tel. No.: |
61 2 97270044 |
IDENTIFICATION DETAILS
|
Name : |
PROCHEM PIPELINE PRODUCTS PTY LTD |
|
|
|
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Registered Office : |
27 Lisbon
Street, Villawood, New South Wales 2163 |
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Country : |
Australia |
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Date of Incorporation : |
28.09.1960 |
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Com. Reg. No.: |
000337824 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Manufacturing, import & distribution of stainless steel piping products and instrumentation mechanical components. |
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No. of Employees : |
100 employees |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 400,000 |
|
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) |
|
Australia |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Verified Address
Subject name : PROCHEM
PIPELINE PRODUCTS PTY LTD
Business address :
27 Lisbon
Street
Town : Villawood
Province : New
South Wales
Zip/postal code : 2163
Country : Australia
Tel : +61
2 97270044
Fax : +61
2 97286766
Email : sydsales@prochem.com.au
Website : www.prochem.com.au
Registered address
: 27 Lisbon Street
Town : Villawood
Province : New
South Wales
Zip/postal code : 2163
Country : Australia
Executive Summary
Date founded or
registered : 28/09/1960
Legal form : Australian
Proprietary Company
Chief executive : Philip
Lawrence Richmond
Issued & paid
up capital : AUD
400
Sales turnover : AUD
50,000,000 (Estimated Non-consolidated 12 months, 30/06/2011)
Line of business : Manufacturing,
import & distribution of stainless steel piping products and instrumentation
mechanical components.
Staff employed : 100
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
400,000
Credit amount
asked : USD
150,000
Registry Data
Registration date
: 28/09/1960
Legal form : Australian
Proprietary Company
Registration no
Australian Company Number: 000337824
Registered authority : Australian
Securities and Investments Commission
Fiscal/ Tax no :
Australian Business Number: 74000337824
Registry status : Live/Active
Previous name : The
Subject was previously known as PROCHEM
MANUFACTURING PTY LTD
and changed to the current style on 01-07-2005.
Change of legal
form : None
reported.
Key Management
Name : Philip
Lawrence Richmond
Designation : Managing
Director
Name : Peter
John Winter
Designation : Marketing
Director
Name : Gerald
Levy
Designation : Chief
Financial Officer
Appointments
Name : Peter
John Winter
Designation : Director
Appointment date :
28/08/03
Address : 60A
Gunbower Road
Ardross, WA
6153
Australia
Biography : Born
on 18-09-1956 in Perth, Western Australia, Australia.
Name : Philip
Lawrence Richmond
Designation : Director
Appointment date :
28/08/03
Address : 4
Pacific Street
Caringbah South, NSW 2229
Australia
Biography : Born
on 23-01-1952 in Perth, Western Australia, Australia.
Name : Gerald
Levy
Designation : Company
Secretary
Appointment date :
28/08/03
Address : 11
Nicol Close
Kardinya, WA 6163
Australia
Biography : Born
on 19-02-1954 in Manchester, United Kingdom.
Staff employed : 100
employees
Composition
Authorized Capital
: AUD 400
No of shares : 200
Ordinary Shares
Share par value : AUD 2
Issued capital : AUD 400
Paid up capital : AUD 400
How listed : Full
List
Composition
Shareholder name :
PROCHEM
PIPELINE PRODUCTS (NSW) PTY LTD
Address : 27
Lisbon Street
Villawood, NSW 2163
Australia
No. of shares : 200
Ordinary Shares
% of shares : 100%
Structure
Name : PROCHEM
GROUP HOLDINGS PTY LTD
Affiliation type :
Ultimate
Holding Company
Address : 27
Lisbon Street
Villawood, NSW 2163
Australia
Name : PROCHEM
PIPELINE PRODUCTS (NSW) PTY LTD
Affiliation type :
Parent
Company
Address : 27
Lisbon Street
Villawood, NSW 2163
Australia
Name : PROCHEM
PIPELINE PRODUCTS (S) PTE. LTD.
Affiliation type :
Associate
Address : 69
Joo Koon Circle
Singapore 629084
Singapore
Name : PROCHEM
(THAI) CO., LTD.
Affiliation type :
Associate
Address : 111/6
Moo 4, Tambol map Yang Porn
Plauk Daeng, Rayong
Thailand
Name : PROCHEM
PIPELINE PRODUCTS (WA) PTY LIMITED
Affiliation type :
Associate
Address : 6
Forge Street
Welshpool, WA 6106
Australia
Name : PROCHEM
PTY LTD
Affiliation type :
Associate
Address : 27
Lisbon Street
Villawood, NSW 2163
Australia
Bank Details
Name of bank : Australia
And New Zealand Banking Group 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 : ASIC
Charge Number: 10551
Date Registered: 20-05-1985
Charge type: Floating
Date Created: 01-05-1985
Chargees Name: DWF NOMINEES
PTY LIMITED
ASIC Charge
Number: 607581
Date Registered: 01-09-1997
Charge type: Both
Fixed & Floating
Date Created: 12-08-1997
Chargees Name: WESTPAC
BANKING CORPORATION
Legal Fillings
Bankruptcy
fillings : None
reported.
Court judgements :
None
reported.
Tax liens : None
reported.
Others : None
reported.
Description
Source of
financial statement : Provided
by the Subject
Financial
statement date : 30/06/11
Type of accounts :
Estimated
key figures
Currency : Australia
Dollar (AUD)
Exchange rate : 1
USD = AUD 0.95 as of 20-03-2012
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 : 50,000,000
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 $12.5 million, and
-The company and any entities it controls have fewer than 50 employees
at the
end of the financial year.
The Subject meet requirements to disclose its financial information
however the
Subject is still exempted to do so by the Australian Securities and
Investments
Commission.
Main activities : The Subject is engaged in manufacturing,
import & distribution of stainless
steel piping
products and instrumentation mechanical components.
The Subject is the
sole Australian distributor of products from:
1) BSM Valves.
2) Actuator
Technology Company (ATC)
3) Pacson Valves
4) Anderson
Greenwood Primary Isolation Valves
Product & services : - Stainless steel
piping products such as tubes, pipes, flanges, fittings,
valves, hoses,
piping accessories
- Mechanical
stainless steel instrumentation products
- Hydraulic
fittings
Brand : Prochem, Pacson, The Actuator Technology
Company, BSM, Anderson
Greenwood
Instrumentation, Tube-Mac Industries, Circor's Instrumentation
Product
Purchases
International :
Worldwide
Sales
Local : Yes
International :
Singapore
Property & Assets
Premises : The Subject operates from premises located
at the verified heading
address consisting
of production facilities, administrative office and
warehouse.
Branches : In addition, the Subject operates from
branch offices located at:
6 Forge Street
Welshpool, WA 6106
Australia
Tel: +61 8 9458
7777
91 Orsmond Street
Hindmarsh, SA 5007
Australia
Tel: +61 8 8241 7633
5-15 Ventura Place
Dandenong South,
VIC 3175
Australia
Tel: +61 3 9799
2244
96-98 Central
Avenue
Derwent Park, TAS
7009
Australia
Tel: +61 3 6272
8828
63 Radley Street
Virginia, QLD 4014
Australia
Tel: +61 7 3265
2711
Gross Domestic Products (GDP) & Economic
Overview
Central bank : Reserve
Bank of Australia
Reserve of foreign
exchange & gold : US$
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:
4.0%
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
International : L/C, Prepayment,
Telegraphic transfer, Credit 30-90 days
Sales Term
Local : Prepayment,
Bank transfer, Credit 30-90 days
International : Prepayment, L/C,
Telegraphic transfer, 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.50.25 |
|
|
1 |
Rs.79.76 |
|
Euro |
1 |
Rs.66.52 |
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.