|
Report Date : |
04.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
BHP BILLITON MITSUI COAL PTY LTD |
|
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|
|
Registered Office : |
' |
|
|
|
|
Country : |
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|
|
|
|
Financials (as on) : |
30.06.2012 |
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Date of Incorporation : |
23.02.1962 |
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Legal Form : |
Australian
Proprietary Company |
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|
|
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Line of Business : |
Engages in open cut coal mining and exploration in |
|
|
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|
No. of Employees : |
46,370 |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
Payment Behaviour : |
Regular |
|
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Australia |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
AUSTRALIA - ECONOMIC OVERVIEW
Australia's abundant and diverse natural resources
attract high levels of foreign investment and include extensive reserves of
coal, iron ore, copper, gold, natural gas, uranium, and renewable energy
sources. A series of major investments, such as the US$40 billion Gorgon Liquid
Natural Gas project, will significantly expand the resources sector. Australia
also has a large services sector and is a significant exporter of natural
resources, energy, and food. Key tenets of Australia''s trade policy include
support for open trade and the successful culmination of the Doha Round of
multilateral trade negotiations, particularly for agriculture and services. The
Australian economy grew for 17 consecutive years before the global financial
crisis. Subsequently, the former RUDD government introduced a fiscal stimulus
package worth over US$50 billion to offset the effect of the slowing world
economy, while the Reserve Bank of Australia cut interest rates to historic
lows. These policies - and continued demand for commodities, especially from
China - helped the Australian economy rebound after just one quarter of
negative growth. The economy grew by 1.4% during 2009 - the best performance in
the OECD - by 2.7% in 2010, and by 1.8% in 2011. Unemployment, originally
expected to reach 8-10%, peaked at 5.7% in late 2009 and fell to 5.0% in 2011.
As a result of an improved economy, the budget deficit is expected to peak
below 4.2% of GDP and the government could return to budget surpluses as early
as 2015. Australia was one of the first advanced economies to raise interest
rates, with seven rate hikes between October 2009 and November 2010. The
GILLARD government is focused on raising Australia''s economic productivity to
ensure the sustainability of growth, and continues to manage the symbiotic, but
sometimes tense, economic relationship with China. Australia is engaged in the
Trans-Pacific Partnership talks and ongoing free trade agreement negotiations
with China, Japan, and Korea
|
Source
: CIA |
Verified Address
Subject
name : BHP
BILLITON MITSUI COAL PTY LTD
Business
address : Level 25, 12
Creek Street
Town :
Brisbane
Province
: Queensland
Zip/postal
code : 4000
Country
: Australia
Tel : +61 7 38352000
Fax : +61 7
33298932
Website
: www.bhpbilliton.com
Registered
address : 'Waterfront
Place' Level 20
1 Eagle Street
Town :
Brisbane
Province
: Queensland
Zip/postal
code : 4000
Country
: Australia
Executive Summary
Date
founded or registered : 23/02/1962
Legal
form : Australian
Proprietary Company
Chief
executive : Jill
Margaret Buckle
Issued
& paid up capital : AUD
168,372,130
Sales
turnover : USD 1,241,270,000 (Non-consolidated
12 months, 30/06/2011)
Net
income : USD
400,336,000 (Non-consolidated 12 months, 30/06/2011)
Total
fixed assets : USD
945,440,000 (Non-consolidated 12 months, 30/06/2011)
Line
of business : Open
cut coal mining and exploration in Queensland.
Staff
employed : 46,370
employees (BHP Billiton Group)
Country
risk : Country
risk is minimal
Operation
trend : Operational
trend is progressing
Management
experience : Management is
adequately experienced
Financial
performance : Financial
performance is very good
Organization
structure : Organizational
structure is stable
Detrimental
: No detrimental found
Payment
history : No payment
delays noted
Comments : Larger
credit can still be considered. The Subject is well positioned in the market
and the financial stability of the group is positive.
Registry Data
Registration
date : 23/02/1962
Legal
form : Australian
Proprietary Company
Registration
no Australian Company Number: 009713875
Registered
authority : Australian
Securities and Investments Commission
Fiscal/
Tax no : Australian Business Number: 34009713875
Registry
status : Live/Active
Previous
name : BHP
MITSUI COAL PTY. LTD.
THIESS DAMPIER MITSUI COAL PTY. LTD.
THIESS PEABODY MITSUI COAL PTY. LTD.
PEABODY COAL PTY. LTD. (initial)
Change
of legal form : None
reported.
Key Management
Name :
Jill Margaret
Buckle
Designation
: Managing Director
Name :
Gideon Johannes
Oberholzer
Designation
: Director
Name :
Hubrecht van
Dalsen
Designation
: Director
Appointments
Name :
Jill
Margaret Buckle
Designation
: Director and
Company Secretary
Appointment
date : 12/04/99
Address
: 30 Tinarra Crescent
Kenmore Hills, QLD 4069
Australia
Biography
: Born on
05-03-1959 in Lismore, New South Wales, Australia.
Name :
Gideon
Johannes Oberholzer
Designation
: Director
Appointment
date : 16/12/08
Address
: 28
Addison Avenue
Bulimba, QLD 4171
Australia
Biography
: Born on
22-12-1967 in Empangeni, South Africa.
Name :
Hubrecht
van Dalsen
Designation
: Director
Appointment
date : 01/03/09
Address
: 21
Nolan Rise
Brookfield, QLD 4069
Australia
Biography
: Born on
28-11-1960 in Outjo, Namibia.
Name :
Michael
David Rosengren
Designation
: Director
Appointment
date : 01/05/11
Address
: 11
Jennings Court
Carindale, QLD 4152
Australia
Biography
: Born on
05-10-1962 in Melbourne, Victoria, Australia.
Name :
Jun
Konno
Designation
: Director
Appointment
date : 11/05/12
Address
: Japan
Biography
: Born on
14-07-1966 in Hokkaido, Japan.
Name :
David
Lyle Ruddell
Designation
: Alternate
Director
Appointment
date : 04/08/11
Address
: 48
Dennis Street
Indooroopilly, QLD 4068
Australia
Biography
: Born on
31-03-1969 in Melbourne, Victoria, Australia.
Name :
Colin
Robert Gilligan
Designation
: Alternate
Director
Appointment
date : 11/05/12
Address
: 'Lushington
4107'
205 King Arthur Terrace
Tennyson, QLD 4105
Australia
Biography
: Born on
24-10-1965 in Kensington, Johannesburg, South Africa.
Staff
employed : 46,370
employees (BHP Billiton Group)
Key Advisors
Auditors
: KPMG
'Riparian Plaza', Level 16,
71 Eagle Street
Brisbane, QLD 4000
Australia
Composition
Authorized
Capital : AUD 168,372,130
No of
shares : 48,140,000 Class A
Shares / 18,260,000 Class B Shares / 11,361,697 Class C
Shares / 6,424,368 Cumulative Redeemable Preference Shares
Share
par value : No par value
Issued
capital : AUD 168,372,130
Paid
up capital : AUD 168,372,130
How
listed : Full List
Composition
Shareholder
name : DAMPIER COAL (QUEENSLAND)
PROPRIETARY LIMITED
Address
: 'Waterfront Place',
Level 20
1 Eagle Street
Brisbane, QLD 4000
Australia
No. of
shares : 48,140,000 Class A
Shares / 18,260,000 Class B Shares / 948,852 Cumulative
Redeemable
Preference Shares
Shareholder
name : MITSUI & CO. (AUSTRALIA)
LTD.
Address
: 'Gateway Building',
Level 46
1 Macquarie Place
Sydney NSW 2000
Australia
No. of
shares : 136,888 Class C
Shares / 5,475,516 Cumulative Redeemable Preference Shares
Shareholder
name : MITSUI & CO., LTD.
Address
: 2-1 Ohtemachi
1-chome
Chiyoda-ku, Tokyo 100-0004
Japan
No. of
shares : 11,224,809 Class C
Shares
Structure
Name :
BHP BILLITON
LIMITED / BHP BILLITON PLC
Affiliation
type : Ultimate Holding
Company
Address
: BHP BILLITON
LIMITED
BHP Billiton Centre
180 Lonsdale Street
Melbourne, VIC 3000
Australia
BHP BILLITON PLC
Neathouse Place
London SW1V 1BH
United Kingdom
Comments : Bhp
Billiton Limited / Bhp Billiton PLC together with its subsidiaries, operates as
a diversified natural resources company worldwide. The company engages in the
exploration, development, and production of oil and gas; mining and refining of
bauxite into alumina, and smelting of alumina into aluminum metal; and mining
of copper, silver, lead, zinc, molybdenum, uranium, gold, diamonds, and
titanium minerals, as well as development of potash deposits. It also involves
in the mining and production of nickel products, manganese ore, and manganese
metal and alloys, as well as in the mining of iron ore, metallurgical coal, and
thermal coal. BHP Billiton Limited sells its copper, lead, and zinc
concentrates, and alumina to smelters; copper cathodes to wire rod mills, brass
mills, and casting plants; uranium oxide to electricity generating utilities;
rough diamonds to diamond buyers and diamond manufacturers; nickel products to
stainless steel, specialty alloy, foundry, chemicals, and refractory material
industries; metallurgical coal to steel producers; and energy coal to power
stations, power generators, and industrial users. The company, formerly known
as BHP Ltd. and changed its name to BHP Billiton Ltd. in July, 2001. It was
founded in 1885 and is headquartered in Melbourne, Australia. The company has a
dual listing in Australian Stock Exchange and London Stock Exchange.
Name :
DAMPIER COAL
(QUEENSLAND) PROPRIETARY LIMITED
Affiliation
type : Parent Company
Address
: 'Waterfront Place',
Level 20
1 Eagle Street
Brisbane, QLD 4000
Australia
Name :
MITSUI & CO.,
LTD.
Affiliation
type : Minority Shareholder
Address
: 2-1 Ohtemachi 1-chome
Chiyoda-ku, Tokyo 100-0004
Japan
Comments : Mitsui
& Co., Ltd., together with its subsidiaries, operates as a general trading
company. It engages in the wholesale, retail, and processing of steel products;
domestic sales, export, and import of steel products for construction and other
steel products; mining and sale of iron ore; sales and trading of scrap,
ferroalloys, and non-ferrous material products; copper mining in Chile; scrap
metal recycling; and nickel and cobalt smelting. The company also engages in
sales of various plants, electric power facilities, and transportations;
manufacturing plant-related materials and equipment; designing, building, and
operation of water treatment plants; operation of LNG terminals and gas
distribution; operation and maintenance of power plants; freight car and
locomotive leasing and management; import and sale of automobiles and auto
parts; sale of trucks and buses; motorcycle retail finance; sales of
construction and mining equipment; and import and sales of helicopters, and
defense and aerospace products, as well as provision of auto parts logistics,
membership car sharing, shipping, and deepwater drilling services. In addition,
it is involved in the operation and leasing of chemical tankers; production and
sale of methanol, salt, industrial chemicals, anhydrous ammonia, fertilizers,
and agricultural products; export of electronic devices; sale of plastics and
chemicals; sales and trading of solvents and coatin materials; crop protection
business; phosphorous ore mining; exploration, development, and production of
oil, natural gas, and condensate; coal and uranium mining; sale of petroleum
products and crude oil. Further, the company engages in food and retail, real
estate, water supply, consumer services, information technology, logistics,
insurance, and financial businesses. It has operations primarily in the
Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company
was founded in 1947 and is headquartered in Tokyo, Japan.
Name :
MITSUI & CO.
(AUSTRALIA) LTD.
Affiliation
type : Minority Shareholder
Address
: 'Gateway Building',
Level 46
1 Macquarie Place
Sydney NSW 2000
Australia
Comments : Mitsui
& Co. (Australia) Ltd. engages in the development and export of minerals,
energy, and agricultural products in Australia. The company also promotes
telecommunications and forestry. It primarily exports minerals and energy to
Japan. Mitsui’s exports include coal, gas, iron ore, meat, aluminum, woodchips,
copper, and oil. The company is headquartered in Sydney, Australia. Mitsui
& Co (Australia) Ltd. is wholly owned by Mitsui & Co., Ltd., of Japan,
as of May 31,2004.
Name :
BHP BILLITON
ENERGY COAL SOUTH AFRICA PROPRIETARY LIMITED
Affiliation
type : Sister Company
Address
: South Africa
Comments
: Coal mining.
Name :
BHP BILLITON
PETROLEUM (AUSTRALIA) PTY LTD
Affiliation
type : Sister Company
Address
: BHP Billiton Centre
180 Lonsdale Street
Melbourne, VIC 3000
Australia
Comments
: Hydrocarbons
production.
Name :
BHP BILLITON MINERALS
PTY LTD
Affiliation
type : Sister Company
Address
: BHP Billiton Centre
180 Lonsdale Street
Melbourne, VIC 3000
Australia
Comments
: Iron ore, coal, silver,
lead and zinc mining.
Name :
BHP BILLITON
ENERGY COAL AUSTRALIA PTY LTD
Affiliation
type : Sister Company
Address
: BHP Billiton Centre
180 Lonsdale Street
Melbourne, VIC 3000
Australia
Comments
: Holding company.
Name :
BHP BILLITON
MARKETING ASIA PTE LTD
Affiliation
type : Sister Company
Address
: 10 Marina Boulevard,
#50-01
Marina Bay Financial Centre, Tower 2
Singapore 018983
Singapore
Name :
BHP COAL PTY
LIMITED
Affiliation
type : Sister Company
Address
: 'Waterfront Place',
Level 20
1 Eagle Street
Brisbane, QLD 4000
Australia
Comments
: Holding company and
coal mining.
Related
companies and corporate
affiliations
comments
: Other companies of the BHP Billiton Group should be
considered affiliates of the Subject.
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 : Commercial
Registry Filings
Financial
statement date : 30/06/11
Type
of accounts : Full
audited
Currency
: US
Dollar (USD)
Consolidation
type : Non Consolidated Non Consolidated Group Consolidated
Currency
: US
Dollar (USD) US Dollar (USD) US Dollar (USD)
Denomination
: (x1) One (x1) One (x1) One
Date
of financial year end : 30/06/11 30/06/10 30/06/12
Length
of accounts : 12 months 12 months 12 months
Operating
profit : 23,752,000,000
Profit
before tax : 527,064,000
364,297,000 23,022,000,000
Net
income : 400,336,000
243,970,000 15,532,000,000
Non
current assets : 348,671,000
283,916,000 108,822,000,000
Current
assets : 596,769,000 236,451,000 20,451,000,000
Inventories
: 40,665,000
60,770,000 6,233,000,000
Total
assets : 945,440,000
520,367,000 129,273,000,000
Current
liabilities : 140,373,000
127,762,000 22,034,000,000
Non
current liabilities : 74,771,000
67,394,000 40,154,000,000
Total
liabilities : 215,144,000
195,156,000 62,188,000,000
Share
equity : 730,296,000
325,211,000 67,085,000,000
Retained
earning : 635,782,000
235,446,000 62,236,000,000
Comments
: The
non-consolidated financial information above relates to the Subject only. The
group’s consolidated financial information above relates to the Subject’s
Ultimate
Holding Company Bhp Billiton Limited / Bhp Billiton PLC and all its
subsidiaries
which include the Subject.
Main
activities : The Subject
engages in open cut coal mining and exploration in Queensland.
The Subject operates 2 mines in the Bowen Basin: South
Walker Creek Mine and Poitrel Mine. South Walker Creek Mine is located on the
eastern flank of the Bowen Basin, 35 kilometres west of the town of Nebo and
132 kilometres west of the Hay Point port facilities. Poitrel Mine is situated
south-east of the town of Moranbah and began open-cut operations in October
2006.
The Subject is 80% owned by BHP Billiton Limited.
BHP Billiton Ltd., together with its subsidiaries, operates
as a diversified natural resources company worldwide.
BHP Billiton Limited is the world's largest mining company
measured by
2011 revenues and was the world's third-largest company
measured by market capitalisation.
Product
& services : Coal
Purchases
International
: Worldwide
Sales
Local
: Yes
International
: Worldwide
Property & Assets
Premises : The
Subject operates from premises located at the verified heading address
consisting of administrative office.
Branches
: In addition, the
Subject operates from 2 mines in the Bowen Basin: South
Walker Creek Mine and Poitrel Mine.
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$
1.586 trillion
GPP
(Purchasing power parity) : 954.296
billion of International dollars
GDP per
capita - current prices : US$
68,916
GDP -
composition by sector : agriculture:
4%
industry: 25.6%
services: 70.4%
Inflation
: 2009:
1.8%
2010: 2.8%
2011: 3.4%
Unemployment
rate : 2009:
5.6%
2010: 5.2%
2011: 5.1%
Public
debt
(General
Government gross debt as
a %
GDP)
: 2009: 16.9%
2010: 20.4%
2011: 22.9%
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 : 2008: US$46,843
million
2009: US$25,716 million
2010: US$32,472 million
FDI
Outflows : 2008: US$33,604
million
2009: US$16,160 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%
Purchase Term
International
: L/C, D/P, Credit up to 120 days
Sales Term
Local
: Bank transfer, D/P, Credit up to 120 days
International
: L/C, D/P, 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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.33 |
|
|
1 |
Rs.84.30 |
|
Euro |
1 |
Rs.67.44 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.