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Report Date : |
24.05.2012 |
IDENTIFICATION DETAILS
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Name : |
A B C TISSUE PRODUCTS PTY LTD |
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Formerly Known As : |
A B C TISSUE PTY LTD (initial) |
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Registered Office : |
34-36 Redfern Street Wetherill Park New South Wales 2164 |
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Country : |
Australia |
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Financials (as on) : |
30.06.2011 (Consolidated) |
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Date of Incorporation : |
18.04.1986 |
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Com. Reg. No.: |
003085112 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Manufacturing and wholesale of tissue and related products. |
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No. of Employees : |
593 employees |
RATING & COMMENTS
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MIRAs Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Australia |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 : A B C TISSUE PRODUCTS
PTY LTD
Business address :
Town :
Province :
Zip/postal code : 2164
Country :
Tel : +61 2 87872222
Fax : +61 2
87872280
Website :
www.abctissue.com
Registered address
:
Town :
Province : New South Wales
Zip/postal code : 2164
Country : Australia
Executive Summary
Date founded or
registered : 18/04/1986
Legal form : Australian
Proprietary Company
Chief executive : Henry Kei Shing Ngai
Issued & paid
up capital : AUD 22,703,446
Sales turnover : AUD 348,120,845
(Consolidated 12 months, 30/06/2011)
Net income : AUD 31,801,711
(Consolidated 12 months, 30/06/2011)
Total fixed assets
: AUD 395,774,434
(Consolidated 12 months, 30/06/2011)
Line of business : Manufacturing and
wholesale of tissue and related products.
Staff employed :
593 employees
Company Analysis
Country risk : Country risk is
minimal
Operation trend : Operational trend is
progressing
Management
experience : Management is
adequately experienced
Financial
performance : Financial
performance is good
Organization
structure : Organizational
structure is consistent
Detrimental : No detrimental records found
Payment history : No payment delays noted
Registry Data
Registration date
: 18/04/1986
Legal form : Australian
Proprietary Company
Registration no Australian Company
Number: 003085112
Registered
authority : Australian
Securities and Investments Commission
Fiscal/ Tax no : Australian Business
Number: 33003085112
Registry status : Live/Active
Previous name : A B C TISSUE PTY LTD
(initial)
Change of legal
form : None reported.
Key Management
Name : Henry Kei Shing Ngai
Designation : Managing Director
Name : Chek Ming Ly
Designation : Director
Name : Sunny Siu Kei Ngai
Designation : Company Secretary
Appointments
Name : Chek Ming Ly
Designation : Director
Appointment date :
29/06/05
Address :
Biography : Born on 01-12-1956 in
Name : Henry Kei Shing Ngai
Designation : Director
Appointment date :
18/04/86
Address :
Biography : Born on 10-02-1946 in
Name : Sunny Siu Kei Ngai
Designation : Company Secretary
Appointment date :
12/11/91
Address :
Oatlands, NSW 2117
Biography : Born on 27-08-1969 in
Staff employed : 593 employees
Key Advisors
Auditors : ERNST & YOUNG
'Ernst & Young Centre'
Sydney, NSW 2000
Composition
Authorized Capital
: AUD 22,703,446
No of shares : 22,123,650 Ordinary Shares
Share par value : No par value
Issued capital : AUD 22,703,446
Paid up capital : AUD 22,703,446
How listed : Full
List
Composition
Shareholder name :
Bong Tran
Address : Unit 9, 9-13 Hill Street
Cabramatta, NSW 2166
Australia
No. of shares : 21,769 Ordinary shares
Shareholder name :
Leng Tran
Address : 13 The Grove
No. of shares : 47,934 Ordinary shares
Shareholder name :
Ratha Phyrum Ta
Address : C/o A B C TISSUE PRODUCTS
PTY LTD
No. of shares : 78,495 Ordinary shares
Shareholder name :
Chea Sieng Ly
Address :
No. of shares : 81,635 Ordinary shares
Shareholder name :
Siv Lang Ly
Address :
Canley Heights, NSW 2166
Australia
No. of shares : 104,660 Ordinary shares
Shareholder name :
Hour Sea Ly
Address : Unit 22, 9-13 Hill Street
Cabramatta, NSW 2166
Australia
No. of shares : 108,847 Ordinary shares
Shareholder name :
Tungi Tsai
Address : C/o CHAN LI MACHINERY CO.,
LTD.
No. 103 Wencheng Road
Taishan Hsiang
Taipei Hsien 243
No. of shares : 500,000 Ordinary shares
Shareholder name :
HONG KONG OVERSEAS INVESTMENT
LIMITED
Address : RM 1005-6, 1st Floor, Ha
Lung Building
25-29 Ko Shing Street
Sai Ying Pun
Hong Kong
No. of shares : 3,897,754 Ordinary shares
Shareholder name :
Chek Ming Ly
Address : 56 George Street
Canley Heights, NSW 2166
Australia
No. of shares : 317,693 Ordinary shares
Shareholder name :
Henry Kei Shing Ngai
Address : 5 Morre Place
Bossley Park, NSW 2176
Australia
No. of shares : 15,007,730 Ordinary shares
Comments : Other shareholders include:
Shareholder name: Terence Maxwell Leckie
Address: 76 The Appian Way, Mount
Vernon, NSW 2759, Australia
No. of shares: 10,000 Ordinary Shares
Shareholder name: Kenneth Wong Hon Ki
Address: Room 829 Wah Lok House Wah
Fu Estate, Aberdeen, Hong Kong
No. of shares: 10,466 Ordinary Shares
Shareholder name: Loretta Lau
Address: 39 Gollan Avenue Oatlands,
NSW 2117, Australia
No. of shares: 52,330 Ordinary Shares
Shareholder name: Anna Lai Chang Ngai
Address:
No. of shares: 489,646 Ordinary Shares
Shareholder name: Anny Lai Lai Ngai
Address:
No. of shares: 515,811 Ordinary Shares
Shareholder name: Sunny Siu Kei Ngai
Address: 39 Gollan Avenue Oatlands,
NSW 2117, Australia
No. of shares: 560,673 Ordinary Shares
Shareholder name: Sona Siou
Address: 5 Morre Place, Bossley
Park, NSW 2176, Australia
No. of shares: 104,660 Ordinary Shares
Shareholder name: Chek Houy Ly
Address: 42A Glen Logan Road.
Bossley Park, NSW 2176, Australia
No. of shares: 138,847 Ordinary shares
Structure
Name : HONG KONG OVERSEAS
INVESTMENT LIMITED
Affiliation type : Shareholder
Address : RM 1005-6, 1st Floor, Ha
Lung Building
25-29 Ko Shing Street
Sai Ying Pun
Hong Kong
Name : QUEENSLAND TISSUE PRODUCTS
PTY LTD
Affiliation type :
Wholly-owned Subsidiary
Address :
Carole Park, QLD 4300
Name : A.B.C. PAPER &
PAPER MILLS PTY. LIMITED
Affiliation type :
Wholly-owned Subsidiary
Address :
Wetherill Park, NSW 2164
Australia
Name : PACIFIC DISTRIBUTOR PTY
LTD
Affiliation type :
Wholly-owned Subsidiary
Address : 34-36 Redfern Street
Wetherill Park, NSW 2164
Australia
Name : ABC TISSUE PRODUCTS
(QLD) PTY LTD
Affiliation type :
Wholly-owned Subsidiary
Address : 34-36 Redfern Street
Wetherill Park, NSW 2164
Australia
Comments : Dormant.
Name : ABC TISSUE PRODUCTS
(VIC) PTY LTD
Affiliation type :
Wholly-owned Subsidiary
Address : 34-36 Redfern Street
Wetherill Park, NSW 2164
Australia
Comments : Dormant.
Name : AUSTRALIA RECYCLING PTY
LTD
Affiliation type :
Wholly-owned Subsidiary
Address : 34-36 Redfern Street
Comments : Dormant.
Name : ABC TISSUE PRODUCTS
(NZ) LIMITED
Affiliation type : Associate
Address : 44 Noel Burnside Road
Wiri, Auckland 2025
New Zealand
Bank Details
Name of bank : National
Australia Bank Limited
Address : Australia
Account details : Current Account
Name of bank : Westpac Banking Corporation Limited
Address : Australia
Account details : Current Account
Name of bank : Commonwealth Bank of Australia
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 : 30/06/11
Type of accounts :
Full audited
Currency :
Exchange rate : 1 USD = AUD 1.03 as of
23-05-2012
Summarized Financial Information
Consolidation type
: Consolidated Consolidated
Currency :
Denomination : (x1) One (x1) One
Date of financial
year end : 30/06/11 30/06/10
Length of accounts
: 12 months 12 months
Sale turnover /
Income : 348,120,845
307,024,271
Gross profit : 127,735,581 111,156,164
Operating profit :
49,017,597 35,095,296
Profit before tax
: 43,590,438 36,151,059
Net income : 31,801,711 25,324,569
Non current assets
: 187,219,310 201,766,818
Current assets : 208,555,124 160,836,135
Inventories : 108,334,353 97,084,130
Total assets : 395,774,434 362,602,953
Current
liabilities :
157,969,158 153,846,902
Non current
liabilities : 94,293,914 97,026,400
Total liabilities
: 252,263,072 250,873,302
Share equity : 143,511,362 111,729,651
Reserve : 27,198,712 27,198,712
Retained earning :
94,740,209 62,938,498
Comments : The consolidated
financial information above relates to the Subject and its
subsidiaries.
Main activities : The Subject engages in manufacturing
and wholesale of tissue and related
products.
Product &
services : Serviettes
Toilet tissues
Facial tissues
Dispensers
Hand towels
Hand cleanser systems
Foam Soap
Brand : ABC
Purchases
International :
Sales
Local : Yes
International :
Worldwide
Property & Assets
Premises : The
Subject operates from premises located at the verified heading
address consisting
of production facilities, warehouse and administrative office.
Branches : None
reported.
Gross Domestic Products (GDP) & Economic
Overview
Central bank : Reserve
Bank of
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%
2011: 3.0%
Unemployment rate
: 2008: 4.2%
2009: 5.6%
2010: 5.2%
2011: 5.0%
Public debt
(General
Government gross debt as
a % GDP): 2008:
11.6%
2009: 17.6%
2010: 22.3%
2011: 24.1%
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%,
5.5%,
Import - major
partners :
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, D/P, Bank transfer, Prepayment, Credit 30-120 days
International :
L/C, D/P, Telegraphic transfer, Prepayment, Credit 30-120 days
Sales Term
Local :
Prepayment, D/P, Bank transfer, Prepayment, Credit 30-120 days
International :
L/C, D/P, Telegraphic transfer, Prepayment, 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.55.93 |
|
|
1 |
Rs.88.15 |
|
Euro |
1 |
Rs.70.88 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
RATING EXPLANATIONS
|
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 |
|
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 SCs 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.