|
Report Date : |
03.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
UPM RAFLATAC PTY LTD |
|
|
|
|
Registered Office : |
41-45
Mills Road, Braeside, Victoria 3195 |
|
|
|
|
Country : |
Australia. |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
08.05.1985 |
|
|
|
|
Legal Form : |
Australian
Proprietary Company |
|
|
|
|
Line of Business : |
Manufacturing and distribution of paper products. |
|
|
|
|
No. of Employees : |
74 |
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 : |
Satisfactory |
|
Payment Behaviour : |
Usually correct |
|
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 : UPM RAFLATAC PTY LTD
Business
address : 41-45 Mills Road
Town :
Braeside
Province
: Victoria
Zip/postal
code : 3195
Country
: Australia
Tel : +61 3 85861700
Fax : +61 3 85861770
Website
: www.upmraflatac.com
Registered
address : 41-45 Mills Road
Town :
Braeside
Province
: Victoria
Zip/postal
code : 3195
Country
: Australia
Executive Summary
Date
founded or registered : 08/05/1985
Legal
form : Australian
Proprietary Company
Chief
executive : Jouni
Komulainen
Issued
& paid up capital : AUD
17,000,000
Sales
turnover : AUD 60,886,824
(Non-consolidated 12 months, 31/12/2011)
Net
income : AUD
978,843 (Non-consolidated 12 months, 31/12/2011)
Total
fixed assets : AUD
41,586,011 (Non-consolidated 12 months, 31/12/2011)
Line
of business : Manufacturing
& distribution of paper products.
Staff
employed : 74
employees (Subject); 22,068 employees (UPM-Kymenne Group)
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 : 08/05/1985
Legal
form : Australia Company Number: 006406435
Registration
no Australian
Proprietary Company
Registered
authority : Australian
Securities and Investments Commission
Fiscal/
Tax no : Australia Business Number: 93006406435
Registry
status : Live/Active
Previous
name : RAFLATAC
OCEANIA PTY LTD
RAFLATAC (AUSTRALIA) PTY. LTD.
ADHESIVE PAPER SUPPLIES PTY. LTD.
SHEFTOLL PTY. LTD. (initial)
Change
of legal form : None
reported.
Key Management
Name :
Jouni Komulainen
Designation
: Managing Director
BOARD
OF DIRECTORS/ OTHER APPOINTMENTS
Appointments
Name :
Raul Ikonen
Designation
: Director
Appointment
date : 07/04/09
Address
: 999 Jianhe Lu, Green Valley Villas, House 30
Shanghai
200336
China
Biography
: Born on 10-06-1969 in Helsinki, Finland.
Name :
Jouni Komulainen
Designation
: Director
Appointment
date : 07/04/09
Address
: 452B Beach Road
Beaumaris,
VIC 3193
Australia
Biography
: Born on 10-04-1969 in Kajaani, Finland.
Name :
Weng Hairong
Designation
: Director
Appointment
date : 07/04/09
Address
: Apartment 301, No.15 Mei Long Shi Yi Cun
Xu Hui
District, Shanghai 200327
China
Biography
: Born on 29-07-1977 in Shanghai, China.
Name :
Cathy Peng
Designation
: Director
Appointment
date : 31/01/10
Address
: Room 2806, No.2, Lane 133, Guang Fu Xi Road
Shanghai
China
Biography
: Born on 26-10-1979 in Shanghai, China.
Staff employed
: 74 employees (Subject); 22,068 employees (UPM-Kymenne Group)
Key Advisors
Auditors
: PRICEWATERHOUSECOOPERS
Freshwater
Place
2
Southbank Boulevard
Southbank,
VIC 3006
Australia
Composition
Authorized
Capital : AUD 17,000,000
No of
shares : 17,000,000 Ordinary Shares
Share
par value : AUD 1
Issued
capital : AUD 17,000,000
Paid
up capital : AUD 17,000,000
OWNERSHIP
/ SHAREHOLDERS
How
listed : Full List
Composition
Shareholder
name : RAFLATAC OY
Address
: Tesomankatu 31
33310
Tampere
Finland
No. of
shares : 17,000,000 Ordinary Shares
% of
shares : 100%
Structure
Name :
UPM KYMMENE OYJ
Affiliation
type : Ultimate Holding Company
Address
: Eteläesplanadi 2
P.O.
Box 380
FI-00101
Helsinki
Finland
Comments
: UPM-Kymmene Oyj manufactures and
sells printing and writing papers. It
operates in Energy, Pulp, Forest and Timber, Paper, Label,
Plywood, and Other
Operations. The company offers magazine papers, newsprint
and fine papers,
and specialty papers to publishers, retailers, printers,
distributors, and paper
converters. It is also involved in the generation of
electricity through hydro,
nuclear, and condensing power generation assets with total
generating capacity
of approximately 1,714 MW in the Nordic and central European
energy markets;
and electricity distribution activities. In addition, the
company produces renewable
biofuels; provides pulp products consisting of northern
softwood and hardwood
pulp, and eucalyptus pulp; manages owned forests, as well as
offers forest
services for private forest owners; and manufactures sawn
pine and spruce
timber and further processed products for the construction
and joinery industries.
Further, it provides self-adhesive label materials used for
product and information
labeling in food and beverage, retail and logistics, and
personal and home care
industries; plywood and veneer products to building,
construction, transport,
furniture, parquet, and other industries under the WISA
brand; and UPM ProFi, a
wood-plastic composite product for various end uses. The
company has
operations in the European Union countries, North and South
America, and Asia.
UPM-Kymmene Oyj was founded in 1995 and is headquartered in
Helsinki,
Finland.
Name :
RAFLATAC OY
Affiliation
type : Parent Company
Address
: Tesomankatu 31
33310
Tampere
Finland
Comments
: UPM Raflatac Oy supplies pressure sensitive labelstock products and
self-adhesive
label materials for product and information labeling internationally. It
also
develops and manufactures radio frequency identification (RFID) tags and
inlays.
The company was incorporated in 1996 and is based in Tampere, Finland.
UPM
Raflatac Oy operates as a subsidiary of UPM-Kymmene Oyj.
Name :
UPM RAFLATAC NZ LTD
Affiliation
type : Sister Company
Address
: 77D Carbine Road, Mt Wellington 1060
PO Box
12-125 Penrose
1064
Auckland
New
Zealand
Name :
UPM RAFLATAC CO., LTD.
Affiliation
type : Sister Company
Address
: 470 Moo 5 T. Phraeksamai
10280
Bangkok
Thailand
Name :
UPM-KYMMENE INDIA PVT. LTD.
Affiliation
type : Sister Company
Address
: C-45/1, T.T.C. Industrial Area, Pawane
Off
Thane-Belapur Road, Turbhe
400705
Navi Mumbai
India
Related
companies and corporate
affiliations
comments
:
Other companies of the Upm-Kymenne Group should be considered affiliated
companies
of the Subject.
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 : 31/12/11
Type
of accounts : Full
audited
Currency
: Australia
Dollar (AUD)
Exchange
rate : 1
USD = AUD 0.95 as of 02-04-2013
Summarized Financial Information
Consolidation
type : Non Consolidated Non Consolidated Group Consolidated
Currency
: Australia
Dollar (AUD) Australia Dollar (AUD) Euro (EUR)
Denomination
: (x1) One (x1) One (x1) One
Date
of financial year end : 31/12/11 31/12/10 31/12/12
Length
of accounts : 12 months 12 months 12 months
Sale
turnover / Income : 60,886,824 67,211,068 10,438,000,000
Profit
before tax : 1,498,313
5,662,308 -1,406,000,000
Net
income : 978,843
3,934,382 -1,254,000,000
Non
current assets : 2,908,504
3,754,664 9,043,000,000
Current
assets : 38,677,507
36,379,334 3,850,000,000
Inventories
: 14,916,861
18,118,059 1,377,000,000
Total
assets : 41,586,011
40,133,998 12,893,000,000
Current
liabilities : 14,261,510
13,614,390 2,029,000,000
Non
current liabilities : 27,526
201,476 4,943,000,000
Total
liabilities : 14,289,036
13,815,866 6,972,000,000
Share
equity : 27,296,975
26,318,132 5,921,000,000
Retained
earning : 9,245,475 8,266,632 3,520,000,000
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 UPM Kymmene Oyj and all its subsidiaries which
includes
the Subject.
Main
activities : The Subject
engages in manufacturing and distribution of paper products.
The Subject is part of UPM Kymmene Oyj (UPM) which is a
global paper
and forest products company. The Company operates in three
business
segments.
The Energy and Pulp segment includes business areas Energy,
which
generates low-emission energy for the Nordic and Central
European
energy markets; Pulp, which produces chemical pulp for the
global market,
and Forest and Timber, producing sawn timber products.
The Paper segment offers a range of papers, including
magazine papers
and newsprint as well as fine and specialty papers.
The Engineered materials segment includes business areas
Label, which
provides self-adhesive label materials for product and
information labeling,
and Plywood, which offers WISA plywood and veneer, mainly
for
construction and transport equipment.
UPM’s activities are centered in the European Union
countries and North
and South America, and Asia with production facilities in 15
countries.
Product & services : Labelstock products: high quality
film and paper-based label material
Labelling solutions: self-adhesive labels for various
products such as
beverages, food, logistics and transport, tyres, retail
information labelling
etc.
Brand
: UPM Raflatac
Purchases
International
: Mainly from associated companies located in China, Malaysia, Thailand
Sales
Local
: Yes
International
: Inter company export to Asia.
Key
events : 14 December 2010
UPM RAFLATAC ACHIEVES ISO 14001 CERTIFICATION FOR
LABELSTOCK MANUFACTURING IN AUSTRALIA
UPM Raflatac has received ISO 14001:2004 Environmental
Management
Systems certification for its labelstock manufacturing
facility in Melbourne,
Australia.
The certification represents a significant step toward
achieving one of the
company’s major goals for its facilities worldwide:
developing
Environmental Management Systems (EMS) which operate in
accordance
with an internationally recognized standard. This means that
the Victoria
site joins the ranks of other UPM Raflatac facilities in the
United States,
South Africa, Europe and China in setting the label
industry’s standard for
excellence in environmental performance.
“UPM Raflatac has long been a leader in environmental
sustainability,
making critical investments to reduce the production of
waste, ensure the
responsible use of raw materials and promote recycling
within the
organization,” says Nicholas Rodgers, responsible for the
ISO
certifications at UPM Raflatac Oceania.
From the company’s early work in pioneering the use of
solvent-free
adhesives and silicones, to the new RafCycle program for the
reduction of
waste going to landfill, UPM Raflatac has moved beyond
incremental
improvements in the company’s processes and practices and
embedded
environmental sustainability into its business.
The ISO 14001 certification covers the manufacture and
slitting of
self-adhesive paper and film labelstock. The factory will be
reassessed
annually to ensure that it is achieving its targets and
continually improving
its environmental performance. ISO 14001 certification
requires that an
organization identifies and controls the environmental
aspects and impacts
of its activities, products or services, continually
improves its environmental
performance, and implements a systematic approach to setting
and
measuring the achievement of its environmental objectives
and targets.
The certificate is awarded by the British Standards
Institution (BSI).
Source: www.upmraflatac.com
Property & Assets
Premises
: The Subject operates from premises at the verified heading address
consisting
of production facility, administrative office and warehouse.
Branches
: In addition, the Subject operates from branch offices located at:
3
White Avenue
Athol
Park, South Australia 5012
Australia
Tel:
+61 3 85861377
Fax:
+61 3 85863844
2/18
Nevilles Street
Underwood,
Queensland 4119
Australia
Tel:
+61 7 38905040
Fax:
+61 7 38905030
Level
13, 124 Walker Street
North
Sydney, New South Wales 2060
Australia
Tel:
+61 2 93345000
Fax:
+61 2 93345001
Other property
: Total NBV of property, plant and equipment as of 31-12-2011 was AUD
2,459,954.
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, Telegraphic transfer, Credit up to 180 days
Sales Term
Local
: Prepayment, Cash against document, Credit up to 120 days
International
: Credit 60-90 days, L/C
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.54.33 |
|
|
1 |
Rs.82.72 |
|
Euro |
1 |
Rs.69.81 |
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.