MIRA INFORM REPORT
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Report Date : |
01.04.2013 |
IDENTIFICATION DETAILS
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Name : |
VLI CONVEYORS PTY LIMITED |
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Formerly Known as: |
PIT TOP CONVEYOR PRODUCTS
PTY LIMITED |
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Registered Office : |
8 Balook Drive, Beresfield,
New South Wales, Zip/postal code 2322 |
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Country : |
Australia |
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Financials (as on) : |
30.06.2010 |
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Date of Incorporation : |
23.09.1980 |
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Com. Reg. No.: |
001989895 |
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Legal Form : |
Australian Proprietary
Company |
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Line of Business : |
Distributor of conveyor and
mining products. |
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No. of Employees : |
130 employees |
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 : |
Usually Correct |
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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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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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 : VLI CONVEYORS PTY LIMITED
Business address : 8 Balook Drive
Town : Beresfield
Province : New South Wales
Zip/postal code : 2322
Country Australia
Tel : +61 2 49642300
Fax : +61 2 40286796
Email : enquiry@vli.com.au
Website : www.valleylongwall.com.au
Registered address : 8 Balook Drive
Town : Beresfield
Province : New South Wales
Zip/postal code : 2322
Country : Australia
Executive Summary
Date founded or registered : 23/09/1980
Legal form : Australian
Proprietary Company
Chief executive : Brett Laurence Lynch
Issued & paid up capital
: AUD 20,010
Sales turnover : AUD 42,073,000 (Non-Consolidated 12
months, 30/06/2010)
Net income : AUD 712,000
(Non-Consolidated 12 months, 30/06/2010)
Total fixed assets : AUD 29,237,000
(Non-Consolidated 12 months, 30/06/2010)
Line of business : Distributor of conveyor
and mining products.
Staff employed : 130 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 found
Payment history : No payment delays noted
Registry Data
Registration date : 23/09/1980
Legal form : Australian
Proprietary Company
Registration no Australian Company
Number: 001989895
Registered authority : Australian Securities and
Investments Commission
Fiscal/ Tax no : Australian Business
Number: 61001989895
Registry status : Live/Active
Previous name : PIT TOP CONVEYOR
PRODUCTS PTY LIMITED
PIT TOP
MINING PTY LTD
PITTOP
MINING & HARDWARE SUPPLIES PTY LTD (initial)
Change of legal form : None reported.
Key Management
Name : Brett Laurence Lynch
Designation : Chief Executive Officer
Name : Neil Robert Guest
Designation : Chief Financial Officer
Appointments
Name : Brett Laurence Lynch
Designation : Director
Appointment date : 31/10/08
Address : 2 Central Avenue
Ivanhoe,
VIC 3079
Australia
Biography : Born on 12/06/1963 in
Melbourne, Victoria, Australia.
Brett is Chief
Executive Officer and Managing Director of Valley
Longwall
International. Brett has over 20 years experience in the
international
mining industry. He has held various management roles
in
Australia coal mines with M.I.M Ltd and the mining services sectors
with Orica
Mining Services across the Asia pacific region.
Name : Pu Zhao Fan
Designation : Director
Appointment date : 30/05/11
Address : China
Biography : Born on 02/03/1982 in China.
Name : Neil Robert Guest
Designation : Company Secretary
Appointment date : 23/03/12
Address : Unit 13, 200-212 Hunter
Street
Newcastle,
NSW 2300
Australia
Biography : Born on 18/01/1955 in Sydney,
New South Wales, Australia.
Staff employed : 130 employees
Key Advisors
Auditors : PRICEWATERHOUSECOOPERS
Level 6,
26 Honeysuckle Drive
Newcastle,
NSW 2300
Australia
Composition
Authorized Capital : AUD 20,010
No of shares : 10,000 Class A Shares / 10,000 Class B Shares / 10 2nd Redeemable Preference Shares
Share par value : AUD 1
Issued capital : AUD 20,010
Paid up capital : AUD
20,010
How listed : Full List
Composition
Shareholder name : VALLEY LONGWALL INTERNATIONAL PTY LTD
Address : 8 Balook Drive
Beresfield,
NSW 2322
Australia
No. of shares : 10,000 Class A Shares / 10,000
Class B Shares / 10 2nd Redeemable Preference Shares
% of shares : 100%
Structure
Name : TAIYUAN HEAVY MACHINERY GROUP COAL
MACHINE CO., LTD.
Affiliation type : Ultimate Holding Company
Address : No. 25 Dianzi Street
Taiyuan
Economy & Technological Development Zone
Taiyuan
030032
Shanxi
China
Name : VALLEY LONGWALL INTERNATIONAL PTY
LTD
Affiliation type : Parent
Company
Address : 8 Balook Drive
Beresfield,
NSW 2322
Australia
Name : VLI DRILLING PTY LIMITED
Affiliation type : Sister
Company
Address : 24 Wallarah Road
Muswellbrook,
NSW 2333
Australia
Name : VLI DIESEL PTY LIMITED
Affiliation type : Sister
Company
Address : 8 Balook Drive
Beresfield, NSW 2322
Australia
Name : VLI DIESEL HIRE PTY LIMITED
Affiliation type : Sister
Company
Address : 8 Balook Drive
Beresfield,
NSW 2322
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 : 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 : 30/06/10
Type of accounts : Full audited
Currency : Australia Dollar
(AUD)
Exchange rate : 1 USD = AUD 0.96 as of
27-03-2013
Summarized
Financial Information
Consolidation type : Non
Consolidated Non
Consolidated
Currency : Australia
Dollar (AUD) Australia Dollar
(AUD)
Denomination : (x1)
One (x1)
One
Date of financial year end : 30/06/10
30/06/09
Length of accounts : 12
months 12
months
Sale turnover / Income : 42,073,000 47,314,000
Profit before tax : 1,147,000 2,154,000
Net income : 712,000 1,481,000
Non current assets : 4,346,000 1,105,000
Current assets : 24,891,000 24,844,000
Inventories : 11,825,000 6,786,000
Total assets : 29,237,000 25,949,000
Current liabilities : 12,810,000 10,278,000
Non current liabilities : 44,000 0
Total liabilities : 12,854,000 10,278,000
Share equity : 16,383,000 15,671,000
Retained earning : 16,363,000 15,651,000
Comments : The Subject's latest financial
information was not filed with the Australian Securities and
Investments Commission.
Main activities : The Subject is engaged as a
distributor of conveyor and mining products.
Product & services :
· Idlers & Frames
Conveyor Belting
Conveyor Pulleys &
Lagging
Belt Cleaning Products
& Fasteners
Under Ground Mining
Products
Bucket Elevator Products
Modular Conveyors
Engineered Ancillary
Products
Service & Support
Purchases
International : Mainly from Asia, Europe
Sales
Local : Yes
International : New Zealand, Pacific Islands
Property &
Assets
Premises : The Subject operates from
premises located at the verified heading
address consisting of an administrative office.
Branches : In addition, the Subject
operates from branch offices located at:
12-14
Martin Drive
Tomago,
NSW 2322
Australia
Tel: +61 2
4964 8787
3
Investigator Drive
Unanderra,
NSW 2526
Australia
Tel: +61 2
4220 9400
1/78 Lock
Avenue
Werribee,
VIC 3030
Australia
Tel: +61 3
8742 6930
Building
3, 836 Boundary Road
Coopers
Plains, QLD 4108
Australia
Tel: +61 7
3276 7000
Hospital
Road
Emerald,
QLD 4720
Australia
Tel: +61 7
4987 5500
Unit 9/10
Dooley Street
North
Rockhampton, QLD 4677
Australia
Tel: +61 7
4921 4677
48-50 Len
Shield Street
Paget, QLD
4740
Australia
Tel: +61 7
4952 7200
13-15
Tarzan Street
Mt. St
John, QLD 4818
Australia
Tel: +61 7
4952 7200
5 Temperly
Close
Welshpool,
WA 6106
Australia
Tel: +61 8
9452 6600
2 Brooks
Way
Kalgoorlie,
WA 6430
Australia
Tel: +61 8
9021 2102
1530
Lambert Road
Karratha
WA 6714
Australia
Tel: +61 8 9144 2411
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 2009: 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 : Prepayment, L/C,
Telegraphic transfer, D/P, Credit 30-90 days
Sales Term
Local : Prepayment,
Bank transfer, D/P, Credit 30-90 days
International : Prepayment, L/C, Telegraphic
transfer, D/P, 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 source
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.54.39 |
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UK Pound |
1 |
Rs.82.32 |
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Euro |
1 |
Rs.69.54 |
INFORMATION DETAILS
|
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.