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Report Date : |
14.08.2013 |
IDENTIFICATION DETAILS
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Name : |
BALAMARA
RESOURCES LIMITED |
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Formerly Known As : |
SULTAN CORPORATION LIMITED |
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Registered Office : |
Level 1, 350 Hay Street Subiaco Western Australia 6008 |
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Country : |
Australia |
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Financials (as on) : |
31.12.2012 (Consolidated) |
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Date of Incorporation : |
16.08.1993 |
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Com. Reg. No.: |
061219985 |
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Legal Form : |
Listed Australian Public Company |
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Line of Business : |
Exploration stage of mineral products. |
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No. of Employees : |
5 employees (Full Time) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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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Status : |
Small Company |
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Payment Behaviour : |
Slow |
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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, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Australia |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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
The Australian economy has experienced continuous growth and
features low unemployment, contained inflation, very low public debt, and a
strong and stable financial system. By 2012, Australia had experienced more
than 20 years of continued economic growth, averaging 3.5% a year. Demand for
resources and energy from Asia and especially China has grown rapidly, creating
a channel for resources investments and growth in commodity exports. The high
Australian dollar has hurt the manufacturing sector, while the services sector
is the largest part of the Australian economy, accounting for about 70% of GDP
and 75% of jobs. Australia was comparatively unaffected by the global financial
crisis as the banking system has remained strong and inflation is under
control. Australia has benefited from a dramatic surge in its terms of trade in
recent years, stemming from rising global commodity prices. Australia is a
significant exporter of natural resources, energy, and food. Australia's abundant
and diverse natural resources attract high levels of foreign investment and
include extensive reserves of coal, iron, 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 is an open market with minimal restrictions on
imports of goods and services. The process of opening up has increased
productivity, stimulated growth, and made the economy more flexible and
dynamic. Australia plays an active role in the World Trade Organization, APEC,
the G20, and other trade forums. Australia has bilateral free trade agreements
(FTAs) with Chile, Malaysia, New Zealand, Singapore, Thailand, and the US, has
a regional FTA with ASEAN and New Zealand, is negotiating agreements with
China, India, Indonesia, Japan, and the Republic of Korea, as well as with its
Pacific neighbors and the Gulf Cooperation Council countries, and is also
working on the Trans-Pacific Partnership Agreement with Brunei Darussalam,
Canada, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore, the US, and
Vietnam.
Source
: CIA
Verified Address
Subject name : BALAMARA RESOURCES LIMITED
Business address :
Level 1, 350 Hay Street
Town : Subiaco
Province : Western Australia
Zip/postal code : 6008
Country : Australia
Tel : +61 8 63654519
Fax : +61 8 93886040
Email : enquiries@balamara.com.au
Website : www.balamara.com.au
Registered address
: Level 1, 350 Hay Street
Town : Subiaco
Province : Western Australia
Zip/postal code : 6008
Country : Australia
Postal address : P.O. Box 222
Town : Subiaco
Province : Western Australia
Zip/postal code : 6904
Country : Australia
Executive Summary
Date founded or
registered : 16/08/1993
Legal form : Listed Australian
Public Company
Chief executive : Michael Ralston
Issued & paid
up capital : AUD 66,860,247.18
Sales turnover : AUD 170,043
(Consolidated 12 months, 30/06/2012)
Net income : AUD -9,373,634
(Consolidated 12 months, 30/06/2012)
Total fixed assets
: AUD 5,973,160
(Consolidated 12 months, 30/06/2012)
Line of business :
Exploration stage of
mineral products.
Staff employed : 5 employees (Full Time)
Company Analysis
Country risk : Country risk is
minimal
Operation trend : Operational trend is
declining
Management
experience : Management is
modestly experienced
Financial
performance : Financial
performance is poor
Organization
structure : Organizational
structure is acceptable
Detrimental : No
detrimental found
Payment history : Payment punctuality is
undetermined
Credit amount
suggestion : Fully secured terms.
Credit amount
asked : Not described.
Comments : Caution is needed
in granting credit due to the Subject’s constant losses.
Registry Data
Registration date
: 16/08/1993
Legal form : Listed Australian Public
Company
Registration no Australian Company Number: 061219985
Registered
authority : Australian Securities and
Investments Commission
Fiscal/ Tax no : Australian Business
Number: 84061219985
Registry status : Live/Active
Previous name : SULTAN CORPORATION LIMITED
WYTOMIC LIMITED
QUADTEL LIMITED
QUADTEL NL
CALEDONIAN PACIFIC MINERALS N.L.
ASIA-PACIFIC MINERALS N.L. (initial)
Change of legal
form : None reported.
Key Management
Name : Michael Ralston
Designation : Managing Director
Name : Daniel Mark Kendall
Designation : Financial Controller
Name : Ellie Kempe
Designation : Administration Manager
Appointments
Name : Derek Lenartowicz
Designation : Director
Appointment date :
02/05/07
Address : 13 Kingsland Avenue
City Beach, WA 6015
Australia
Biography : Born on 30/05/1958 in Bedzin, Poland.
Mr. Lenartowicz has been with the company since the 2nd of May
2007 as an Executive Director, and recently appointed as Executive
Chairman from the 1st of August 2011. He brings to the company
extensive project development and mining experience, from previous
positions within major Australian resources companies at a senior
management level. As an executive chairman, he will focus primarily
on bringing new projects into the company and assisting with the
development of these projects moving forward. Mr Lenartowicz is a
mining engineer with significant experience in developing and
operating large scale resource projects such as Western Mining’s
flagship nickel operation at Mt Keith in Western Australia (1.7 million
tones of nickel). Prior to his engagement with Western Mining, he
held senior positions at North Limited and Dominion Mining. Most
recently, Mr. Lenartowicz was the Managing Director of View
Resources Limited.
Name : Milos
Bosnjakovic
Designation : Director
Appointment date :
02/06/09
Address : 30 Rossello Lane
Subiaco, WA 6008
Australia
Biography : Born on 01/03/1958 in Tuzla, Bosnia and
Herzegovina.
Mr. Bosnjakovic was co-founder of Sultan Corporation Limited which
became Balamara Resources, and has been with the Company as
Executive Director since the 2nd of June 2009. Prior to emigrating to
New Zealand in 1996, Mr. Bosnjakovic served as a lawyer in the
Government of former Yugoslavia. During his time in New Zealand,
he was the Managing Director of Globe Trade, a company whose
value tripled under his leadership. Currently, Mr. Bosnjakovic is the
Managing Director of the family run residential development company
MBL Construction, as well as the founder and Executive Chairman of
the building construction company MB Point Pty Ltd. He has
developed MBL Construction from ground level into a multimillion
dollar property development company, and has lead MB Point to
become one of the state’s most successful boutique residential
building companies which employees over 100 contractors and
permanent staff. Mr. Bosnjakovic possesses extensive knowledge in
project management and development, financial control, and contract
negotiation. As a former practising lawyer, he has a high level of
competency in all aspects of business law, and laws relating to
private and public companies. Thanks to considerable business
experience within Australia and overseas, Mr. Bosnjakovic has strong
managerial skills which often encompass the running of numerous
projects at one time. Extensive travel and ability to speak multiple
languages has helped him build a wide and influential business and
political network.
Name : Michael Ralston
Designation : Director
Appointment date :
28/02/11
Address : 20 Keans Avenue
Sorrento, WA 6020
Australia
Biography : Born on 22/04/1967 in Harare, Zimbabwe.
Mr. Ralston was appointed to the board as a Non-Executive Director
on 1 March 2011, and quickly became Managing Diretor as of the 1st
of August 2011. Mike has been a Senior Executive Manager with
extensive international experience over the last 20 years, working in
both private and public companies in Australia, Africa and the United
Kingdom. He has spent the past 7 years living in Australia, and he is
now an Australian citizen, residing in Perth with his family. He has
worked as Chief Finance Officer for four junior ASX-listed resource
companies over that period, covering both senior management and
board roles. Mr Ralston has 15 years’ experience working in senior
corporate and finance roles across the world and has held both
executive management and Director positions with several ASX-listed
resource companies since his move to Australia. As CFO of
Kangaroo Resources, Mr Ralston was part of the management team
which helped drive the company in the space of two years from a $5
million shell company with minimal value or assets to a company with
a current market capitalisation of $600 million which is poised to
become one of Indonesia’s big coal producers. Mike is an
aggressive, ambitious and energetic driver of the business with a
strong delivery record and he is most suited to a dynamic growth
environment. He is a team player but is also entrepreneurial by
nature and he has wide commercial and management experience,
particularly in the mining sector. He can fulfil a wide scope of
executive management functions including general management,
financial management, corporate and strategy, reporting, fund
raising, business development, company secretarial and shareholder
relations.
Name : Michael Anthony Hale
Designation : Director
Appointment date :
12/04/11
Address : Unit 17, 38 Fielder Street
East Perth, WA 6004
Australia
Biography : Born on 24/03/1954 in Ayr, Queensland,
Australia.
Mr Hale was appointed as the Independent Non-Executive Director
on the 12th of April 2011. Michael is a former public servant within the
Cabinet Office for the state Government of Western Australia, with
strong public and administration skills and experience. His role at
Balamara is primarily with governance, strategy and other corporate
office affairs. He also plays a key role as an independent Director on
the board.
Name : Daniel Mark Kendall
Designation : Company Secretary
Appointment date :
11/01/13
Address : 55B Hamilton Street
Stirling, WA 6021
Australia
Biography : Born on 26/03/1987 in East Fremantle,
Western Australia, Australia.
Mr. Kendall is a Chartered Accountant with a background in finance
derived from his time in audit during his career at BDO Perth, along
with international experience working in London as a Financial
Controller within the Royal Bank of Scotland. His focus is on all
financial matters, including treasury, systems, procedures, budgeting
and forecasting, financial reporting and controls. His experience in
developing appropriate financial controls and cash management
within the Company is critical as Balamara grows into a larger and
more mature resource company over the medium term.
Staff employed : 5 employees (Full Time)
Key Advisors
Auditors : BDO AUDIT (WA) PTY LTD
38 Station Street
Subiaco, WA 6008
Australia
Composition
Authorized Capital
: AUD 66,860,247.18
No of shares : 286,020,913 Ordinary Shares
Share par value : No par value
Issued capital : AUD 66,860,247.18
Paid up capital : AUD 66,860,247.18
How listed : Major Shareholders Only
Composition
Shareholder name :
AMPLE SKILL LIMITED
Address : 2205, 22/F., Harbour Centre
25 Harbour Road
Wan Chai
Hong Kong
No. of shares : 115,422,279 Ordinary Shares
% of shares : 35.13%
Shareholder name :
MBL CONSTRUCTION PTY LTD
Address : 30 Rossello Lane
Subiaco, WA 6008
Australia
No. of shares : 16,613,810 Ordinary Shares
% of shares : 5.06%
Shareholder name :
Derek Lenartowicz
Address : 13 Kingsland Avenue
City Beach, WA 6015
Australia
No. of shares : 16,741,254 Ordinary Shares
% of shares : 5.10%
Comments : The Subject's shares are listed
on the Australian Securities Exchange (ASX).
Structure
Name : NORTH MINING DOO
Affiliation type :
Wholly-owned Subsidiary
Address : Dalmatinska 176
Podgorica 81000
Montenegro
Name : POLMETAL SP. Z O.O.
Affiliation type :
Subsidiary
Address : Ul Kopernika 4/6
40-064 Katowice
Poland
Name : GLOBAL MINERAL PROSPECTS SP. Z O.O.
Affiliation type :
Subsidiary
Address : Ul Kopernika 4/6
40-064 Katowice
Poland
Name : ISABELLA MINERALS PTY LTD
Affiliation type :
Wholly-owned Subsidiary
Address : Level 1, 350 Hay Street
Subiaco, WA 6008
Australia
Name : BALKAN MINING PTY LTD
Affiliation type :
Wholly-owned Subsidiary
Address : Level 1, 350 Hay Street
Subiaco, WA 6008
Australia
Name : POLISH INVESTMENTS PTY LTD
Affiliation type :
Wholly-owned Subsidiary
Address : Level 1, 350 Hay Street
Subiaco, WA 6008
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 : Public Record Sources
Financial
statement date : 30/06/12
Type of accounts :
Full audited
Currency : Australia
Dollar (AUD)
Exchange rate : 1 USD = AUD 1.09 as of
13-08-2013
Summarized Financial Information
Consolidation type
: Consolidated Consolidated Consolidated
Currency : Australia Dollar
(AUD) Australia Dollar (AUD) Australia Dollar (AUD)
Denomination : (x1) One (x1) One (x1) One
Date of financial
year end : 31/12/12 30/06/12 30/06/11
Length of accounts
: 6 months 12 months 12 months
Sale turnover /
Income : 17,309 170,043 194,659
Profit before tax
: -3,173,229 -9,373,634 -2,945,263
Net income : -3,173,229 -9,373,634 -2,945,263
Non current assets
: 7,267,117 3,695,159 3,616,507
Current assets : 2,191,686 2,278,001 5,479,287
Total assets : 9,458,803 5,973,160 9,095,794
Current
liabilities : 958,971
412,874 717,757
Non current
liabilities : 8,653 0 0
Total liabilities
: 967,624 412,874 717,757
Share equity : 8,491,179 5,560,286 8,378,037
Reserve : 4,490,477 4,257,133 594,023
Retained earning :
-51,560,530 -48,408,793 -39,093,897
Comments : The consolidated
financial information above relates to the Subject and its
subsidiaries.
Main activities : The Subject
engages in exploration and production of minerals mainly
copper, zinc, lead, silver and gold. However, production for any of the
Subject's projects is yet to begin.
The Subject has 6 mineral exploration projects; Monty Project in
Montenegro, Bogdan Project in Poland, Elsienora And Peelwood Projects
in New South Wales, Australia, RSC Project and Varesh Project in Bosnia
& Herzegovina.
During the fiscal year ended June 30, 2012, the Subject changed its
primary focus from the New South Wales, Australia Projects consisting of
Elsienora and Peelwood, to its Central European projects in Montenegro
and Poland.
- Monty Project (100% owned by the Subject)
Zinc-Lead-Copper-Silver Deposit In Montenegro
The Monty Project is in the eastern part of Montenegro located near to
the
town of Mojkovac and approximately 100km from the capital city of
Podgorica. Mojkovac is linked by rail and road between Podgorica and
Belgrade, Serbia.
The Subject received a 25 year exploration and mining lease of the Monty
Project in late 2010 on favorable acquisition terms. Subject has
completed
drilling in late 2011 for metallurgical samples and work is currently
underway on the feasibility study as the company is targeting to bring
Monty into production in early 2014 subject to funding.
Monty Project Highlights include:
- 9.2 Million Tonnes of Zinc, Lead, Copper and Gold Mineralisation;
- Monty Project contains 5 Large Already Defined Deposits;
Current Monty Project Status: In exploration drilling stage.
- Bogdan Project (85% owned by the Subject)
Highly Prospective Base Metals Exploration Project In Poland
Located in the Lower Silesia region of South-Western Poland, Bogdan is a
tenement of approximately 42 square kilometers bordering the significant
area of established copper/silver mines owned and operated by KGHM
Polska Miedz, one of the largest copper producers in Europe.
In September 2011, the Subject acquired an 85 % ownership in “Polmetal”
a local polish company holding the Bogdan tenement in accordance with
an investment agreement.
Historically this area sits in a region that has produced over 20
million
tonnes of copper over the past 40 years, most of it produced by KGHM.
The area is defined by a large fault system that runs south-east and a
vast
tabular mineralised zone is associated with this fault, covering an area
of
some 200-300 square kilometres. KGHM have developed a mature,
end-to-end mining and smelting operation in this region since the 1960’s
that has built it into one of the largest listed companies on the Warsaw
Stock Exchange.
Current Bogdan Project Stage: In exploration drilling stage.
- RSC Project (Bosnia & Herzegovina)
Highly Prospective Concession Secured Adjacent To Large Operating
Zinc-Lead Mine In Montenegro
In March 2013 Balamara was awarded the RSC Project; a highly
prospective exploration concession in the Balkans region which is
strategically located immediately adjacent to the currently operating
Suplja
Stijena zinc-lead mine in north-western Montenegro. The Suplja Stijena
mine has significant resources and reserves of zinc, lead and copper
with
some gold and silver. Balamara won this tender ahead of significant local
competition, including from Suplja Stijena itself, which reflects both
the
prospectivity of the concession and the high level of interest in it
within the
industry. There was no acquisition fee for the Project, with exception
to the
standard concession fees applicable.
The concession area – known locally as the
RAJKOVICI-SELIŠTE- CELEBICI ore field, which Balamara will abbreviate to
“RSC Project” (“RSC” or the “Project”) – comprises an extensive area of
over 50sqkm, and is located immediately across the Montenegrin border in
the Srpska Republic, which is part of Bosnia-Herzegovina. Balamara owns
80% of local subsidiary “Western Mining” d.o.o which has been awarded
the rights to explore the RSC Project.
Current RSC Project Status:
Under the terms of the concession agreement, Balamara is obliged to plan
an initial exploration programme with a view to commencing activities
shortly thereafter.It is likely that drilling may commence within the
RSC
Project during 2H 2013.
- Varesh Project (Bosnia-Herzegovina)
In 2012 Balamara Resources acquired its second advanced Zinc-Silver
Project in the Balkans region, located close to its existing Montenegro
(Monty) Project.
The acquisition of the new Varesh Project – which is located in
Bosnia-Herzegovina just ~30km north of the capital city Sarajevo, and
close to existing infrastructure including roads, rail, power and water
– adds
further momentum to the Company’s strategy of consolidating several
quality base metal projects across the region.
Together with the Monty Project, the Company now has a significant
pipeline of near-production assets in Central Europe, providing a strong
foundation for the Company’s growth ambitions, including its aim to
become a significant supplier of quality base metal concentrates from
this
region.
Current Varesh Project Stage: Not Started
- Peelwood Project in New South Wales, Australia (100% owned by the
Subject)
Copper – Zinc Project In New South Wales, Australia
Balamara Resources Limited is 100% owner of the six exploration licences
(EL’s) located in the Lachlan Fold Belt of eastern New South Wales,
Australia.
The seven exploration licenses are:
EL2934 – Peelwood North
EL2934 – Peelwood South
EL6081 – Single Tree Hill
EL6082 – Junction Point
EL6767 – Elsienora
EL6831 – Black Springs
EL6955 – Mount Costigan
All tenements form a contiguous package that is located from around
50-80
kilometres (km) south of the City of Bathurst in eastern New South
Wales.
Balamara’s main asset at Peelwood is the Peelwood North deposit
(formerly known as John Fardy).
In addition, the Peelwood Copper-Zinc project has several historical
mines
and prospects with zinc-rich volcanic-hosed sulphide-style
mineralization.
Each of these old mines or prospects has the potential for similar style
of
mineralization to that at Peelwood North deposits.
Current Peelwood Project Stage: Exploration drilling stage
- Elsienora Project(New South Wales, Australia)
The Elsienora Project lies mainly within EL6767 and covers an area
37km2. It is contiguous with and immediately to the south of EL6082 and
contains the extensions of the historical Elsienora prospects. The
geology
consists of Ordovician sediments, volcanic and intrusive in addition to
the
Late Silurian and Early Devonian sediments and volcanics of the Peelwood
area.
Current Elsienora Project Stage: Exploration drilling stage
Purchases
International : The Subject has
mineral exploration projects in Australia, Montenegro,
Poland and Bosnia and Herzegovina.
Sales
Local : None
reported.
International : None reported.
Property & Assets
Premises : The Subject
operates from premises at the verified heading address
consisting of an administrative office.
Branches : None reported.
Gross Domestic Products (GDP) & Economic
Overview
Central bank : Reserve
Bank of Australia
Reserve of foreign
exchange & gold : US$ 46.714
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 : 2010:
2.8%
2011: 3.4%
2012: 2.7%
Unemployment rate
: 2010: 5.2%
2011: 5.1%
2012: 5.2%
Public debt
(General
Government gross debt as
a % GDP): 2010:
20.4%
2011: 22.9%
2012: 24%
Government bond
ratings : Standard
& Poor's: AAA
Moody's rating: Aaa
Moody's outlook: STA
Market value of
publicly traded
shares: US$1.198
trillion
Largest companies
in the country : Qantas Airways (Airline),Coca-Cola
Amatil (Beverages), CSL (Biotechs),
Brambles (Business & Personal Services),Crown Ltd (Casinos &
Gaming), Amcor (Containers & Packaging),Suncorp-Metway (Diversified
Insurance), BHP Billiton (Diversified Metals & Mining),Newcrest Mining (Diversified
Metals & Mining), Orica (Diversified Metals & Mining), Iluka
Resources(Diversified Metals & Mining), Origin Energy (Electric
Utilities),
AGL Energy (Electric Utilities), Wesfarmers (Food Retail), Woolworths
(Food Retail), Metcash (Food Retail), Macquarie Group (Investment services),
AMP (Investment services), Challenger Ltd (Investment services), Fortescue
Metals Group (Iron & Steel), Bluescope Steel (Iron & Steel),
Commonwealth Bank (Major Banks), Westpac Banking Group
(Major Banks), National Australia Bank (Major Banks), ANZ (Major Banks),
Woodside Petroleum (Oil & Gas Operations), Santos (Oil & Gas
Operations), Caltex Australia (Oil & Gas Operations), WorleyParsons
(Oil
Services & Equipment), Toll Holdings (Other Transportation),
Transurban
Group (Other Transportation), QBE Insurance Group (Property &
Casualty Insurance), Insurance Australia Group (Property & Casualty
Insurance), QR National (Railroads), Westfield Group (Real Estate), Stockland
Australia (Real Estate), Westfield Retail Trust (Real Estate), Lend Lease (Real
Estate), CFS Retail Property Trust (Real Estate), Goodman Group (Real Estate),
Bendigo & Adelaide Bank (Regional Banks), Bank of Queensland (Regional
Banks), Incitec Pivot (Specialized Chemicals), Telstra (Telecommunications Services)
Trade & Competitiveness Overview
Total exports : US$263.9
billion
Exports commodities : Coal,
iron ore, gold, meat, wool, alumina, wheat, machinery and transport equipment
Total imports : US$239.7
billion
Imports
commodities : Machinery
and transport equipment, computers and office machines,
telecommunication equipment and parts; crude oil and petroleum products
Export - major
partners : China
27.4%, Japan 19.2%, South Korea 8.9%, India 5.8%
Import - major
partners : China
18.5%, US 11.4%, Japan 7.9%, Singapore 6.3%, Germany 4.7%
FDI Inflows : 2009:
US$26,554 million
2010: US$35,556 million
2011: US$41,317 million
FDI Outflows : 2009:
US$16,693 million
2010: US$12,791 million
2011: US$19,999 million
Best countries for
doing business : 10 out of 185
countries
Global
competitiveness ranking : 20
(ranking by country on a basis of 144, the first is the best)
Country and Population Overview
Total population :
22.68 million
Total area : 7,692,024 km2
Capital : Canberra
Currency : Australian
dollars (AUD)
Internet users as
% of total
population: 79%
Purchase Term
Local : Bank transfer, Credit 30-90 days
International : Telegraphic transfer, Credit 30-90 days
Sales Term
Local : None
International : None
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.
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.61.43 |
|
|
1 |
Rs.95.07 |
|
Euro |
1 |
Rs.81.77 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.