|
Report Date : |
27.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
NUFARM LIMITED |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.07.2012 |
|
|
|
|
Date of Incorporation : |
27.01.2000 |
|
|
|
|
Legal Form : |
Australian Public Company |
|
|
|
|
Line of Business : |
Manufacturing and distribution of crop protection products
used by farmers to protect crops from damage caused by weeds, pests and
disease. |
|
|
|
|
No. of Employees : |
3026 |
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 |
|
Status : |
Good |
|
Payment Behaviour : |
No complaints |
|
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 |
|
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 : NUFARM LIMITED
Business
address : 103–105 Pipe Road
Town :
Laverton North
Province
: Victoria
Zip/postal
code : 3026
Country
: Australia
Tel : +61 3 92821000
Fax : +61 3 92821001
Website
: www.nufarm.com
Registered
address : 103-105 Pipe Road
Town :
Laverton North
Province
: Victoria
Zip/postal
code : 3026
Country
: Australia
Postal
address : P.O. Box 103
Town :
Laverton
Province
: Victoria
Zip/postal
code : 3028
Country
: Australia
Executive Summary
Date
founded or registered : 27/01/2000
Legal
form : Australian
Public Company
Chief
executive : Douglas
John Rathbone
Issued
& paid up capital : AUD
262,142,247
Sales
turnover : AUD
2,181,551,000 (Consolidated 12 months, 31/07/2012)
Net
income : AUD
72,822,000 (Consolidated 12 months, 31/07/2012)
Total
fixed assets : AUD
2,801,268,000 (Consolidated 12 months, 31/07/2012)
Line of business : Manufacturing
and distribution of crop protection products used by farmers to protect crops
from damage caused by weeds, pests and disease.
Staff
employed : 3,193
employees (Nufarm 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 consistent
Detrimental
: No detrimental found
Payment
history : No payment
delays noted
Comments
: Larger
credit can still be considered.
Registry Data
Registration
date : 27/01/2000
Legal
form : Australian
Public Company
Registration
no Australian Company Number: 091323312
Registered
authority : Australian
Securities & Investments Commission
Fiscal/
Tax no : Australian Business Number: 37091323312
Registry
status : Live/Active
Previous
name : None
reported.
Change
of legal form : None
reported.
Key Management
Name :
Douglas John
Rathbone
Designation
: Chief Executive Officer,
Managing Director, Executive Director
Name :
Brian Benson
Designation
: Group General Manager -
Agriculture
Name :
Rodney Heath
Designation
: Group General Manager -
Corporate Services, Company Secretary
Name :
David Pullan
Designation
: Group General Manager -
Operations
Name :
Robert Reis
Designation
: Group General Manager -
Corporate Strategy and External Affairs
Name :
Mike Pointon
Designation
: Group General Manager -
Innovation and Development
Name :
Bonita Croft
Designation
: Group General Manger -
HR & Organisation Development
Name :
Dale Mellody
Designation
: Group General Manager -
Supply Chain & Strategic Procurement
Name :
Paul Andrew
Binfield
Designation
: Chief Financial Officer
Name :
Greg Hunt
Designation
: Group General Manager -
Global Marketing & Business Development
Appointments
Name :
Douglas John
Rathbone
Designation
: Chief Executive Officer,
Managing Director, Executive Director
Appointment
date : 21/08/87
Address
: 38 Edward Street
Essendon, VIC 3040
Australia
Biography
: Born on 03-11-1945 in
Melbourne, Victoria, Australia.
Mr. Douglas (Doug) John Rathbone, AM, is Chief Executive,
Managing Director and Executive Director of Nufarm Limited.
Mr.
Rathbone joined the board in 1987. His background is
chemical
engineering and commerce and he has worked for Nufarm
Australia
Limited for 32 years. He was appointed Managing Director of
Nufarm
Australia in 1982 and Managing Director of the Company in
October
1999.
Name :
William Bruce
Goodfellow
Designation
: Non-Executive
Non-Independent Director
Appointment
date : 15/02/91
Address
: 531 Remuera Road
1050 Auckland
New Zealand
Biography
: Born on 30-11-1951 in
Auckland, New Zealand.
Dr. William Bruce Goodfellow, Ph.D., is Non-Executive
Non-Independent Director of Nufarm Limited since 1999. He
holds a
Doctorate in Philosophy in Chemical Engineering from the
University
of Auckland. Mr. Goodfellow joined the Board, representing
the
holders of the "C" shares, in 1991. Following the
conversion of the
"C" shares into ordinary shares, he was elected
Director in 1999. He
has experience in the chemical trading business and
financial and
commercial business management experience. He is Director of
Sulkem Co Ltd (Group), Refrigeration Engineering Co Ltd, SH
Lock
(NZ) Ltd and Cambridge Clothing Co Ltd.
Name :
Donald
Gordon McGauchie
Designation
: Non-Executive
Independent Chairman
Appointment
date : 19/12/03
Address
: 2400 Echuca
Serpentine Road
Prairie, VIC 3572
Australia
Biography
: Born on 11-02-1950 in
Bendigo, Victoria, Australia.
Mr. Donald (Don) Gordon McGauchie, AO, is Non-Executive
Independent Chairman of the Board of Nufarm Limited. He
joined the
board in 2003 and was appointed Chairman on July 13, 2010.
He has
a farming background and has been involved in agricultural
trade,
policy and market reform. He was President of the National
Farmers'
Federation from 1994 - 1998. He is past Director and
Chairman of
Telstra Limited, and is current Chairman of Australian
Agricultural
Company Limited. Other current non-executive directorships
include
James Hardie Industries, NV; Graincorp Limited; Reserve Bank
of
Australia; and Australian Wool Testing Authority Limited. He
is
Chairman of the Nomination Committee (effective 28 September
2010) and Member of the Remuneration Committee.
Name :
Garry Hounsell
Designation
: Non-Executive
Independent Director
Appointment
date : 01/10/04
Address
: 2 Merriwee Crescent
Toorak, VIC 3142
Australia
Biography
: Born on 21-11-1954 in
Junee, New South Wales, Australia.
Mr. Garry Arthur Hounsell is Non-Executive Independent
Director of
Nufarm Limited since October 2004. He has a Bachelor of
Business
(Accounting) from Swinburne University and is former senior
partner
with Ernst & Young and a former Australian country-managing
partner with Arthur Andersen. He has experience across a
range of
areas, relating to management and corporate finance and has
worked with some of Australia’s companies in consulting and
audit
roles, with a particular emphasis in the manufacturing sector.
He is
Chairman of Pan Aust Ltd and Director of Qantas Airways
Limited,
Orica Ltd and Dulux Group Ltd. In the past three years he
has been
Deputy Chairman of Mitchell Communication Group Ltd. He is
Chairman of the Audit Committee.
Name :
Anne Bernadette
Brennan
Designation
: Non-Executive Director
Appointment
date : 10/02/11
Address
: 7 Cairo Street
South Coogee, NSW 2034
Australia
Biography
: Born on 22-09-1960 in
Castlebar, County Mayo, Ireland.
Ms. Anne Bernadette Brennan is Non-Executive Director of
Nufarm
Limited since February 10, 2011. Ms. Brennan was formerly
Executive Finance Director for the Coates Group and Chief
Financial
Officer for CSR. She has experience in financial management,
treasury, audit, risk management, tax, investor relations
and ASX and
statutory reporting. Prior to her role at CSR, she was
partner in three
professional services firms: KPMG, Arthur Andersen and Ernst
&
Young, she currently holds non-executive directorships with
Myer
Limited, Charter Hall Group and Cuscal Limited and Argo
Investments Limited. She is also Director of the Australian
Ireland
Fund and Councillor of the Australian Institute of Company
Directors
(NSW). She holds a Bachelor of Commerce (Honours) degree
from
University College Galway. She is Fellow of the Institute of
Chartered
Accountants in Australia and Fellow of the Australian
Institute of
Company
Directors.
Name :
Gordon Richard
Davis
Designation
: Non-Executive Director
Appointment
date : 31/05/11
Address
: 7 Gibney Street
Hawthorn, VIC 3122
Australia
Biography
: Born on 16-07-1956 in
Melbourne, Victoria, Australia.
Mr. Gordon R. Davis is Non-Executive Director of Nufarm
Limited
since May 31, 2011. He was Managing Director of Australian
agribusiness company AWB Limited between 2006 and 2010.
Prior to
this, he held various senior executive positions with Orica,
including
General Manager of Orica Mining Services (Australia, Asia)
and
General Manager of Incitec Fertilizers. He has also served
in a senior
capacity on various industry associations. He holds a
Bachelor of
Forest Science (Hons); and has completed a Master of
Agricultural
Science from the University of Tasmania and a Master of
Business
Administration from the University of Melbourne.
Name :
Peter Maxwell
Margin
Designation
: Non-Executive Director
Appointment
date : 03/10/11
Address
: 35 Service Street
Hampton, VIC 3188
Australia
Biography
: Born on 17-04-1960 in
Gosford, New South Wales, Australia.
Mr. Peter Maxwell Margin serves as Non-Executive Director of
Nufarm Ltd since October 3, 2011. He was Chief Executive of
Australasian food manufacturer Goodman Fielder between 2005
and
Apri l2011. Before this, he was Chief Executive Officer and
Chief
Operating Officer of National Foods Ltd. He currently serves
as a
non-executive director of Bega Cheese Ltd.
Name :
Rodney Heath
Designation
: Company Secretary
Appointment
date : 27/01/00
Address
: 6 Lockwood Avenue
Brighton East, VIC 3187
Australia
Biography
: Born on 10-03-1953 in
Auckland, New Zealand.
Mr. Rodney (Rod) Heath is Group Executive Corporate Services
and
Company Secretary of Nufarm Limited. He has a Bachelor of
Law
(LLB) and joined the Company in 1980, initially as Legal
Officer, later
becoming assistant Company Secretary. In 1989, he moved from
New Zealand to Australia to become Company Secretary of
Nufarm
Australia Ltd. In 2000, he was appointed Company Secretary
of the
Company.
Staff
employed : 3,193 employees
(Nufarm Group)
Key Advisors
Auditors
: KPMG
147 Collins Street
Melbourne, VIC 3000
Australia
Solicitors
: ARNOLD BLOCH LEIBLER
& CO
333 Collins Street
Melbourne, VIC 3000
Australia
SYLVIA
MILLER & ASSOCIATES
131
Orrong Road
Elsternwick,
VIC 3185
Australia
Composition
Authorized
Capital : AUD
262,142,247
No of
shares : 262,142,247
Ordinary Shares
Share
par value : AUD 1
Issued
capital : AUD
262,142,247
Paid
up capital : AUD
262,142,247
How
listed : Major
Shareholders Only
Composition
Shareholder
name : SUMITOMO
CHEMICAL COMPANY, LIMITED
Address
: Tokyo
Sumitomo Twin Building (East)
27-1, Shinkawa 2-chome
Chuo-ku, Tokyo 104-8260
Japan
No. of
shares : 60,210,136
Ordinary Shares
% of
shares : 23%
Shareholder
name : HSBC CUSTODY
NOMINEES (AUSTRALIA) LIMITED
Address
: 580
George Street
Sydney, NSW 2000
Australia
No. of
shares : 28,194,902
Ordinary Shares
% of
shares : 10.77%
Shareholder
name : NATIONAL
NOMINEES LIMITED
Address
: 23
Hunter Street
Sydney, NSW 2000
Australia
No. of
shares : 30,633,068
Ordinary Shares
% of
shares : 11.70%
Shareholder
name : JP MORGAN
NOMINEES AUSTRALIA LIMITED
Address
: Level
32, 225 George Street
Sydney, NSW 2000
Australia
No. of
shares : 28,305,190 Ordinary Shares
% of shares
: 10.81%
Shareholder
name : FALLS CREEK NO 2
PTY LTD
Address
: Unit 4,
31 Sabre Drive
Port Melbourne, VIC 3207
Australia
No. of
shares : 10,763,092
Ordinary Shares
% of
shares : 4.11%
Shareholder
name : AMALGAMATED
DAIRIES LIMITED
Address
: 40-42
Anzac Avenue
Auckland
New Zealand
No. of
shares : 14,430,798
Ordinary Shares
% of shares : 5.51%
Shareholder
name : CITICORP
NOMINEES PTY LIMITED
Address
: Level
5, 120 Collins Street
Melbourne, VIC 3000
Australia
No. of
shares : 9,642,798 Ordinary Shares
% of
shares : 3.68%
Comments :
The Subject is listed on the Australian Stock Exchange with the symbol 'NUF'.
The Subject is owned by approximately 13,540 shareholders.
Structure
Name :
NUFARM AUSTRALIA
LTD
Affiliation
type : Wholly-owned
Subsidiary
Address
: 103-105 Pipe Road
Laverton North, VIC 3026
Australia
Name :
CROP CARE
AUSTRALASIA PTY LTD
Affiliation
type : Wholly-owned
Subsidiary
Address
: Portal North, 15/16
Metroplex Avenue
Murarrie, QLD 4172
Australia
Name :
NUFARM S.A.
Affiliation
type : Wholly-owned
Subsidiary
Address
: Edificio
Panamericana Plaza
Tronador 4890 – Piso 14
(C1430DNN) Ciudad
Autonoma de Buenos Aires
Republica Argentina
Name :
NUFARM DO BRAZIL
LTDA.
Affiliation
type : Wholly-owned
Subsidiary
Address
: Rua Samuel Morse,
74
15ş andar, Cj. 152. Brooklin
Săo Paulo-SP. Cep: 04.576-060
Brazil
Name :
NUFARM CHEMICAL
(SHANGHAI) CO., LTD.
Affiliation
type : Wholly-owned
Subsidiary
Address
: 17N, International
Shipping & Finance Building
720 Pudong Ave
Shanghai 200120
China
Name :
NUFARM ASIA SDN
BHD
Affiliation
type : Wholly-owned
Subsidiary
Address
: L2.03 Wisma BU8
No. 11, Lebuh Bandar Utama
Bandar Utama, 47800 Petaling Jaya
Selangor Darul Ehsan
Malaysia
Name :
CROPLANDS
EQUIPMENT LTD
Affiliation
type : Wholly-owned
Subsidiary
Address
: 1422 Omahu Road
Hastings 4120
New Zealand
Name :
NUFARM ESPAŃA
S.A.
Affiliation
type : Wholly-owned
Subsidiary
Address
: C/ Balmes, 200, 1o
4a
Barcelona 08006
Spain
Name :
NUFARM UK LTD
Affiliation
type : Wholly-owned
Subsidiary
Address
: Wyke Lane
Wyke
Bradford
West Yorkshire BD12 9EJ
United Kingdom
Name :
NUFARM AMERICAS
INC.
Affiliation
type : Wholly-owned Subsidiary
Address
: 150 Harvester
Drive, Suite 200
Burr Ridge, IL 60527
United States of America
Related
companies and corporate
affiliations
comments
: Other companies of the Nufarm 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
: ASIC
Charge Number: 2052021
Date
Registered: 27-09-2010
Charge
type: Both
Fixed & Floating
Date
Created: 27-09-2010
Chargees
Name: NATIONAL
AUSTRALIA BANK LIMITED
ASIC
Charge Number: 2052039
Date
Registered: 27-09-2010
Charge
type: Both
Fixed & Floating
Date
Created: 27-09-2010
Chargees
Name: NATIONAL
AUSTRALIA BANK LIMITED
ASIC
Charge Number: 2151149
Date
Registered: 23-03-2011
Charge
type: Both
Fixed & Floating
Date
Created: 15-03-2011
Chargees
Name: NATIONAL
AUSTRALIA BANK LIMITED
ASIC
Charge Number: 2210573
Date
Registered: 27-07-2011
Charge
type: Both
Fixed & Floating
Date
Created: 16-05-2011
Chargees
Name: NATIONAL
AUSTRALIA BANK LIMITED
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 : 31/07/12
Type
of accounts : Full
audited
Currency
: Australia
Dollar (AUD)
Exchange
rate : 1
USD = AUD 0.96 as of 27-09-2012
Summarized Financial Information
Consolidation
type : Consolidated
Consolidated
Currency
: Australia
Dollar (AUD) Australia
Dollar (AUD)
Denomination
: (x1)
One (x1)
One
Date
of financial year end : 31/07/12
31/07/11
Length
of accounts : 12
months 12
months
Sale turnover
/ Income : 2,181,551,000 2,083,589,000
Gross
profit : 610,894,000
561,946,000
Operating
profit : 144,972,000
28,089,000
Profit
before tax : 110,323,000
-32,548,000
Net
income : 72,822,000
-49,529,000
Non
current assets : 1,326,537,000
1,322,838,000
Current
assets : 1,474,731,000
1,514,998,000
Inventories
: 515,254,000
541,679,000
Total
assets : 2,801,268,000
2,837,836,000
Current
liabilities : 807,057,000
1,135,230,000
Non
current liabilities : 517,409,000
138,488,000
Total
liabilities : 1,324,466,000
1,273,718,000
Share
equity : 1,476,802,000
1,564,118,000
Reserve
: -326,915,000
-193,210,000
Retained
earning : 496,663,000
451,472,000
Comments : The
consolidated financial information above relates to the Subject and all its
consolidated subsidiaries.
Main
activities : The
Subject engages in manufacturing and distribution of agricultural chemicals used
by farmers to protect crops from damage caused by weeds, pests and disease.
Subject has production and marketing operations throughout the world and sells
products worldwide. The major markets include Australasia, Europe, North
America and South America. Subject is also a breeder and marketer of high
quality seeds with a focus on corn, sunflower and canola.
The Subject is listed on the Australian Stock Exchange
(symbol NUF) and is the largest manufacturer of crop protection products in
Australia.
Product & services : Agricultural chemicals
Specialty chemicals
Glyphosate
Diuron Insecticides
Plant nutrition
Herbicides
Fungicides
Seeds and seed treatment
Fertilisers
Brand
: NUFARM
NUTURF
Purchases
Local
: Yes
International
: Worldwide
Sales
Local
: Yes
International
: Worldwide
Key
events : 24
September 2012
Nufarm announces assignment of corporate debt rating from
Moody’s
Investor Services
Nufarm today announces that Moody’s Investor Services has
assigned
Nufarm a corporate rating of 'Ba2' with a stable outlook.
21 September 2012
Nufarm announces proposed Offering of Senior Unsecured Notes
Nufarm Limited today announced the intention of its
wholly-owned
subsidiary, Nufarm Australia Ltd, to offer, subject to
market and other
conditions, US$300 million aggregate principal amount of
Senior
Unsecured Notes (the "Notes"). The Notes will only
be offered to qualified institutional buyers in the United States pursuant to
Rule 144A under the United States Securities Act of 1933, as amended (the
"Securities Act"), and to certain persons outside the United States
in offshore transactions in reliance on Regulation S under the Securities Act.
If successful, Nufarm intends to apply the net proceeds to repay existing
indebtedness outstanding under the A$625 million Australian revolving bank
facility entered into in November 2011. Concurrent with this, US$250 million of
the commitments under the A$625 million Australian revolving bank facility
would be cancelled.
1 August 2012
Nufarm to Pay A$43.5 Million to Settle Shareholder Suits
Nufarm Ltd., (NUF) Australia’s biggest supplier of farm chemicals, agreed to
pay A$43.5 million ($46 million) to settle shareholder lawsuits that accused
the company of providing misleading profit forecasts in 2010. The settlement
agreement, reached today 14 months before a scheduled trial, must be approved
by a judge before becoming final, Melbourne-based BNufarm said in a statement
today. One group lawsuit alleged a forecast provided on March 2, 2010, of
earnings between A$110 million to A$130 million was deceptive. The suit was
filed Jan. 14, 2011, in a federal court in Melbourne by Slater & Gordon
Ltd. (SGH) on behalf of Australian and international institutional and retail
shareholders and followed a Dec. 24, 2010, lawsuit filed by Maurice Blackburn
Lawyers. Nufarm cut its 2010 financial year forecast to between A$55 million
and A$65 million on July 14 of that year, less than four months after its
initial outlook, saying adverse weather in Australia, Europe and North America
reduced demand for crop- protection products. The shares fell 28 percent the
next day, the biggest decline in 16 years.
“We are pleased to put this matter behind us,” Nufarm
Chairman Donald McGauchie said in today’s statement.
12 July 2012
Nufarm and Sumitomo Chemical enter into distribution
contract in Italy Nufarm Limited (“Nufarm”) and Sumitomo Chemical Company
Limited (“Sumitomo Chemical”) announced today that Nufarm Italia has signed a
non-exclusive distribution contract with Sumitomo Chemical Italia. The new
arrangements will take effect from August 1, 2012. This new collaboration will
enable Sumitomo Chemical Italia to enlarge their distribution with access to
all Nufarm Italia's crop protection portfolio for crop uses in Italy, except
for seed treatment, while Nufarm’s revenues of branded product sales in Italy
will grow further with the benefit of this additional support from Sumitomo
Chemical Italia which has a large sales organisation and broad access to
distribution within the Italian market.
History
: Nufarm
was established in Melbourne, Australia in the mid 1950s. Founder,
Max Fremder, began selling phenoxy herbicides to
professional spray applicators in regional Victoria and quickly established a
reputation for excellent customer service and good quality products. The
company moved to its present head office location at Laverton North in 1972,
with the corporate headquarters located adjacent to Nufarm's largest
manufacturing facility.
From the mid 1980s until early 2000, Nufarm was a subsidiary
of New Zealand based Fernz Corporation. The Nufarm crop protection business
continued to grow and expand during that period, with a number of overseas
locations established throughout the 1990s.
In 2000, Fernz migrated the incorporation of the company
from New Zealand to Australia and changed the group's name to Nufarm Limited.
Since that time, the company has focused on building a global platform for its
core crop protection business and has divested various industrial and specialty
chemical businesses.
Various acquisitions and solid organic growth have seen the
business rapidly expand. Nufarm is now ranked the 9th largest crop protection
company in the world, with a clear leadership position in Australia and
substantial operations in North and South America, Europe, New Zealand and
Asia.
Property & Assets
Premises : The
Subject operates from group headquarters located at the verified heading
address consisting of production facilities, warehouse and administrative
office.
Branches : In
addition, the Subject has manufacturing plants in 14 countries worldwide.
SUMMARIZED COUNTRY RISK
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
Local
: Cash against
document, Prepayment, Credit up to 120 days
International
: L/C, Telegraphic
transfer, Credit up to 120 days
Sales Term
Local
: Cash against
document, Prepayment, Credit up to 120 days
International
: L/C, Prepayment, 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.53.57 |
|
|
1 |
Rs.86.60 |
|
Euro |
1 |
Rs.68.93 |
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.