MIRA INFORM REPORT
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Report Date : |
07.09.2012 |
IDENTIFICATION DETAILS
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Name : |
INGRAM MICRO PTY LTD |
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Formerly Known As : |
INGRAM MICRO AUSTRALIAN
HOLDCO II PTY LTD |
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Registered Office : |
61 Dunning Avenue,
Rosebery, New South Wales, Zip/postal code 2018 |
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Country : |
Australia |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
13.01.2005 |
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Com. Reg. No.: |
112487966 |
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Legal Form : |
Australian Proprietary
Company |
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Line of Business : |
Import and distribution of information
technology (“IT”) products |
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No. of Employees : |
15,500 employees (Ingram
Micro 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 : |
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
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 |
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.
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Source : CIA |
Verified Address
Subject name : INGRAM MICRO PTY LTD
Business address : 61 Dunning Avenue
Town : Rosebery
Province : New South Wales
Zip/postal code : 2018
Country : Australia
Tel : +61 2 93816000
Fax : +61 2 97014826
Website : www.ingrammicro.com.au
Registered address : 61 Dunning Avenue
Town : Rosebery
Province : New South Wales
Zip/postal code : 2018
Country : Australia
Executive Summary
Date founded or registered : 13/01/2005
Legal form : Australian
Proprietary Company
Chief executive : Robert Jay Miley
Issued & paid up capital
: AUD 204,363,001
Sales turnover : USD 36,328,701,000
(Group-consolidated 12 months, 31/12/2011)
Net income : USD 244,240,000
(Group-consolidated 12 months, 31/12/2011)
Total fixed assets : USD 9,146,516,000
(Group-consolidated 12 months, 31/12/2011)
Line of business : Import and distribution of
information technology (“IT”) products.
Staff employed : 15,500 employees (Ingram
Micro Group)
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
Registry Data
Registration date : 13/01/2005
Legal form : Australian
Proprietary Company
Registration no Australian Company
Number: 112487966
Registered authority : Australian Securities and
Investments Commission
Fiscal/ Tax no : Australian Business
Number: 45112487966
Registry status : Live/Active
Previous name : INGRAM MICRO AUSTRALIAN HOLDCO II
PTY LTD (initial)
Change of legal form : None reported.
Key Management
Name : Robert Jay Miley
Designation : Managing Director
Name : Etienne Choquet
Designation : Chief Financial Officer & Executive
Director
Name : David Lenz
Designation : Senior Director, Enterprise Technology Group
Name : Desmond Ling
Designation : Senior Director, Consumer, Components & Print
Appointments
Name : Stephen John Paine
Designation : Director
Appointment date : 31/10/06
Address : Le Grove Serviced
Apartments, M-206
32 Orange
Grove Road
Singapore
258354
Singapore
Biography : Born on 17-01-1958 in Sutton,
United Kingdom.
Name : Frank Adoranti
Designation : Director and Company Secretary
Appointment date : 30/10/08
Address : 5 Hogan Grove
Castle
Hill, NSW 2154
Australia
Biography : Born on 07-01-1965 in
Newcastle, New South Wales, Australia.
Name : Robert Jay Miley
Designation : Director
Appointment date : 11/11/08
Address : 30 Fletcher Street
Woollahra,
NSW 2025
Australia
Biography : Born
on 15-09-1970 in Orange County, California, United States.
Mr. Miley holds a bachelor's degree
in business economics from the
University of California, Santa
Barbara and an MBA from the
University of Southern California.
Name : Shailendra
Gupta
Designation : Director
Appointment date : 21/12/07
Address : 13
Tanjong Rhu Road
The Waterside #12-02, Block 3
Singapore 436897
Singapore
Biography : Born
on 17-09-1962 in Jodhpur, Rajasthan, India.
Mr.
Shailendra Gupta is Senior Executive Vice President and
President - Ingram Micro, Asia-Pacific
of Ingram Micro Inc., since
January 2008. Mr. Gupta served as
senior vice president, Ingram
Micro Asia-Pacific from August 2007
to January 2008. Prior to joining
Ingram Micro, Mr. Gupta spent nine
years with Tech Pacific Group,
starting in 1995 as managing director
of India, then in 2001 was
promoted to chief executive officer.
Mr. Gupta joined Ingram Micro in
2004 as chief operating officer of
Ingram Micro Asia-Pacific when
Ingram Micro acquired Tech Pacific.
Prior to Tech Pacific, Mr. Gupta
spent ten years with Godrej &
Boyce Manufacturing Co. Ltd., India, a
diversified Indian conglomerate,
where he held managerial positions
including manufacturing plant
responsibility.
Staff employed : 15,500 employees (Ingram Micro
Group)
Composition
Authorized Capital : AUD 204,363,001
No of shares : 10,700,001 Ordinary Shares
Share par value : No par value
Issued capital : AUD 204,363,001
Paid up capital : AUD
204,363,001
How listed : Full List
Composition
Shareholder name : INGRAM MICRO HOLDINGS (AUSTRALIA) PTY
LIMITED
Address : 61 Dunning Avenue
Rosebery,
NSW 2018
Australia
No. of shares : 10,700,001 Ordinary Shares
% of shares : 100%
Structure
Name : INGRAM MICRO INC.
Affiliation type : Ultimate Holding Company
Address : 1600 E. St. Andrew Place
Santa Ana,
California 92705
United
States
Comments : Ingram Micro Inc. distributes information technology (IT) products and supply chain solutions
worldwide. The company offers IT
peripheral products, including printers, scanners, displays, projectors,
monitors, panels, mass storage, and tape; large format LCD and plasma displays,
enclosures, mounts, media players, content software, content creation, and
content hosting; cell phones, digital cameras, digital video disc players, game
consoles, televisions, audio, media management, and home control; barcode/card
printers, AIDC scanners and software, and wireless infrastructure products; IP video
surveillance, security alarm systems, fire alarm systems, and access control
smart cards and printers; processors, motherboards, hard drives, and memory;
and paper, carrying cases, anti-glare screens, and ink and toner supplies. It
also provides various systems, such as rack, tower, and blade servers;
desktops; portable personal computers and tablets; and personal digital
assistants, as well as business application software, operating system
software, entertainment software, middleware, developer software tools,
security and storage software, and virtualization software. The company’s
networking products comprise switches, hubs, routers, wireless local and wide
area networks, network interface cards, cellular data cards, network-attached
storage, and storage area networks; voice over Internet protocol,
communications, modems, phone systems, and video/audio conferencing; and
firewalls, virtual private networks, intrusion detection, and authentication
devices and appliances. In addition, it provides supply chain, integration,
technical and training support, financial and credit, marketing, business
intelligence, e-commerce, reseller community hosting, managed, cloud, and mobility activation services. The company sells its products
and services to resellers through sales representatives. Ingram Micro Inc. was
founded in 1979 and is headquartered in Santa Ana, California.
Name : INGRAM MICRO HOLDINGS (AUSTRALIA)
PTY LIMITED
Affiliation type : Parent
Company
Address : 61 Dunning Avenue
Rosebery,
NSW 2018
Australia
Name : INGRAM MICRO (N.Z.) LIMITED
Affiliation type : Sister
Company
Address : 78 Apollo Drive
Rosedale,
Auckland 0632
New
Zealand
Name : INGRAM MICRO AUSTRALIA PTY LTD
Affiliation type : Sister
Company
Address : 61 Dunning Avenue
Rosebery,
NSW 2018
Australia
Name : TECH PACIFIC HOLDINGS (NZ) LIMITED
Affiliation type : Sister
Company
Address : 78 Apollo Drive
Rosedale,
Auckland 0632
New
Zealand
Related companies and corporate affiliations comments
Other companies of the Ingram
Micro Group should be considered affiliates of the Subject.
Bank Details
Name of bank : Westpac Bank
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 : US Dollar (USD)
Consolidation type : Group Consolidated Group Consolidated
Currency : US Dollar (USD) US Dollar (USD)
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 : 36,328,701,000 34,588,984,000
Gross profit : 1,908,282,000 1,892,291,000
Operating profit : 458,646,000 484,433,000
Profit before tax : 387,871,000 438,061,000
Net income : 244,240,000 318,060,000
Non current assets : 528,114,000 493,944,000
Current assets : 8,618,402,000 8,590,088,000
Inventories : 2,942,164,000
2,914,525,000
Total assets : 9,146,516,000
9,084,032,000
Current liabilities 5,509,875,000 5,235,186,000
Non current liabilities : 363,864,000 607,664,000
Total liabilities : 5,873,739,000 5,842,850,000
Share equity : 3,272,777,000 3,241,182,000
Retained earning : 2,444,995,000 2,200,755,000
Comments : The group’s consolidated
financial information above relates to the Subject’s Ultimate
Holding
Company Ingram Micro Inc. and all its subsidiaries which include the Subject.
Main activities : The Subject engages in import and
distribution of information technology (“IT”) products.
The Subject also provides resellers with support in sales, technical pre-sales, professional services, marketing, logistics, and vendor engagement.
The Subject is ultimately owned by Ingram Micro Inc. based in United States of America.
Ingram Micro Inc., a Fortune 100 company, is the world’s largest technology distributor and a leading technology sales, marketing and logistics company for the IT industry worldwide. As a vital link in the technology value chain, Ingram Micro creates sales and profitability opportunities for vendors and resellers through unique marketing programs, outsourced logistics services, technical support, financial services and product aggregation and distribution.
Ingram Micro Inc. supports global operations through an extensive sales and distribution network throughout North America, Europe, Middle East and Africa (EMEA), Latin America and Asia-Pacific:
- Local sales offices and/or representatives in 26 countries
- 105 distribution centers worldwide
- Representing more than 1,300 vendors
- Serving more than 190,000 resellers in approximately 145 countries
- Providing support through approximately 15,500 world-wide associates
- The only global broad-based IT distributor in Asia
Product & services : - IT Peripherals: Server, printers, scanners, displays, projectors, monitors, panels, digital
signage products, cell phones, digital cameras, digital video disc players, game consoles, televisions, barcode/card printers, AIDC scanners, AIDC software, Internet protocol video surveillance, security alarm systems, fire alarm systems, access control smart card, desktops; portable personal, computers and tablets
- Software products: business application software, operating system software, entertainment software, middleware, developer software tools, security software (firewalls, intrusion detection, and encryption), storage software and virtualization software
- Networking products: switches, hubs, routers, wireless local area networks, wireless wide area networks, network interface cards, cellular data cards, network-attached storage and storage area networks
- Communication products incorporate Voice over Internet Protocol (or VoIP), communications, modems, phone systems and video/audio conferencing
- Network security hardware includes firewalls, Virtual Private Networks (or VPNs), intrusion detection, and authentication devices and appliances.
Brand : Ingram Micro,
Hewlett-Packard
Purchases
International : Worldwide
Sales
Local : Yes
International : Pacific Islands
Property &
Assets
Premises : The Subject operates from
premises located at the verified heading
address consisting of an administrative office and warehouse.
Branches : In addition, the Subject operates from branch
offices and distribution centres
located at:
Level 2, 39 Sherwood Road
Toowong, QLD 4066
Australia
Level 1, 436 Johnston Street
Abbotsford, VIC 3067
Australia
Unit 7, Rear 443 Scarborough Beach Road
Osborne Park, WA 6017
Australia
22-24 Wonderland Drive
Eastern Creek, NSW 2766
Australia
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
International : L/C, Telegraphic transfer, D/P,
Prepayment, Credit 30-120 days
Sales Term
Local : Prepayment, Bank
transfer, D/P, Credit 30-120 days
International : L/C, Telegraphic transfer, D/P,
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
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.97 |
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UK Pound |
1 |
Rs.89.02 |
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Euro |
1 |
Rs.70.61 |
INFORMATION DETAILS
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Report Prepared
by : |
MNL |
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.