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Report Date : |
22.08.2013 |
IDENTIFICATION DETAILS
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Name : |
MAXITRANS AUSTRALIA PTY LTD |
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Formerly Known As : |
FREIGHTER INDUSTRIES PTY LTD |
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Registered Office : |
346 Boundary Road,
Derrimut, Victoria, Zip/postal code 3030 |
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Country : |
Australia |
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Financials (as on) : |
30.06.2012 |
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Date of Incorporation : |
24.12.1997 |
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Com. Reg. No.: |
081151699 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Manufacturer and distributor of trailing transport equipment and solutions |
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No. of Employees : |
660 employees (Subject) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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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
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 : MAXITRANS AUSTRALIA PTY
LTD
Other style / Business name : BULK TRANSFER SYSTEMS / AZMEB GLOBAL
TRAILERS
Business address : 346 Boundary Road
Town : Derrimut
Province : Victoria
Zip/postal code : 3030
Country : Australia
Tel : +61 3 83681100
Fax : +61
3 83681112
Email : enquiries@maxitrans.com.au
Website : www.maxitrans.com.au
Registered address : 346 Boundary Road
Town : Derrimut
Province : Victoria
Zip/postal code : 3030
Country : Australia
Executive Summary
Date founded or registered : 24/12/1997
Legal form : Australian Proprietary Company
Chief executive : Michael Alan Brockhoff
Issued & paid up capital : AUD 2
Sales turnover : AUD 276,767,000 (Group-Consolidated 12 months, 30/06/2012)
Net income : AUD 12,522,000 (Group-Consolidated 12 months, 30/06/2012)
Total fixed assets : AUD 184,237,000 (Group-Consolidated 12 months, 30/06/2012)
Line of business : Manufacture and distribution of trailing transport equipment and solutions.
Staff employed : 660 employees (Subject)
Company Analysis
Country risk : Country risk is minimal
Operation trend : Operational trend is progressing
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 : 24/12/1997
Legal form : Australian
Proprietary Company
Registration no Australian Company
Number: 081151699
Registered authority : Australian Securities and
Investments Commission
Fiscal/ Tax no : Australian Business
Number: 95081151699
Registry status : Live/Active
Previous name : FREIGHTER INDUSTRIES PTY
LTD
MAXI-CUBE BUSINESS HOLDINGS PTY LTD (initial)
Change of legal form : None reported.
Other registration : BULK TRANSFER SYSTEMS is a
business name owned by the Subject
registered on 16/06/2012.
AZMEB GLOBAL TRAILERS is a business name owned by the Subject
registered on 30/06/2012.
Key Management
Name : Michael Alan Brockhoff
Designation : Managing Director
Name : Campbell Ross Richards
Designation : Chief Financial Officer
Name : Ian Else
Designation : Group Human Resources Manager
Appointments
Name : Michael Alan Brockhoff
Designation : Director
Appointment date : 07/07/00
Address : 16 Newbay Crescent
Brighton, VIC 3186
Australia
Biography : Born on 24-05-1953 in Melbourne, Victoria, Australia.
Mr. Michael Alan Brockhoff is Chief Executive Officer, Managing
Director and Executive Director of Maxitrans Industries Ltd. He has
thirty-four years experience in the road transport industry. He is
Member of the Nomination Committee of the Company.
Name : Campbell Ross Richards
Designation : Director
Appointment date : 24/06/13
Address : 8 Renwick Street
Glen Iris, VIC 3146
Australia
Biography : Born on 12/12/1966 in Melbourne, Victoria, Australia.
Mr. Campbell Richards is Chief Financial Officer and Company
Secretary of Maxitrans Industries Ltd effective June 24, 2013. Mr.
Richards has a Bachelor of Business in Accountancy and is a
qualified Chartered Accountant. He brings with him over 16 years
experience in corporate finance and a background in mergers and
acquisitions with a number of companies. Mr. Richards started his
career at Coopers & Lybrand and KPMG as a taxation specialist
before moving to the Mayne Group in 1997 and since 2007 Kraft
Foods.
Name Aaron Mark Harvey
Designation : Company Secretary
Appointment date : 05/02/10
Address : 81 Castleton Road
Viewbank, VIC 3084
Australia
Biography : Born on 08-06-1977 in Ivanhoe, Victoria, Australia.
Staff employed : 660 employees (Subject)
Key Advisors
Auditors : C.W.STIRLING & CO PTY LTD
Level 13, 10-16 Queen Street
Melbourne, VIC 3000
Australia
Composition
Authorized Capital : AUD 2
No of shares : 2 Ordinary Shares
Share par value : AUD 1
Issued capital : AUD 2
Paid up capital : AUD 2
How listed : Full List
Composition
Shareholder name : MAXITRANS INDUSTRIES LIMITED
Address : 346 Boundary Road
Derrimut,
VIC 3030
Australia
No. of shares : 2 Ordinary Shares
% of shares : 100%
Structure
Name : MAXITRANS INDUSTRIES LIMITED
Affiliation type : Parent Company
Address : 346 Boundary Road
Derrimut, VIC 3030
Australia
Comments : MaxiTRANS Industries Limited is a manufacturer and supplier of road transport
trailing equipment and solutions. The principal activities of the Company consist
of the design, manufacture, sale, service and repair of transport equipment and
related components and spare parts. It has three segments: Sales of New Trailer
and Tipper Units, Sales of Parts and Service and Others. The Company includes
manufacture of trailer brands, supply and distribution of parts, provision of service
and repair support, manufacture of urethane foam and body panels and the sales
and finance of new and used trailing equipment. Its products serve many
industries including transport and logistics, fresh produce, food and beverage,
building and construction, agriculture and natural resources. On March 24, 2012,
it acquired Queensland Diesel Spares Pty Ltd. In May 2012, the Company
acquired AZMEB Global Trailers. Effective May 31, 2011, Perpetual Limited
ceased to be shareholders of the Company.
Name : MAXIPARTS PTY LTD
Affiliation type : Sister Company
Address : 137 Swann Drive
Derrimut, VIC 3030
Australia
Name : MAXITRANS INDUSTRIES (N.Z.) PTY LTD
Affiliation type : Sister Company
Address : 61 Spartan Road
Takanini, Auckland 2105
New Zealand
Comments : Overseas ASIC Company.
Name : COLRAIN QUEENSLAND PTY LTD
Affiliation type : Sister Company
Address : Unit 3/1927 Ipswich Road
Rocklea, QLD 4106
Australia
Name : COLRAIN (ALBURY) PTY LTD
Affiliation type : Sister Company
Address : 439 Wagga Road
Lavington, NSW 2641
Australia
Related companies
and corporate affiliations comments
Other companies of the Maxitrans Group should be considered affiliates 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 : Public Record Sources
Financial statement date : 30/06/12
Type of accounts : Full audited
Currency : Australia Dollar (AUD)
Exchange rate : 1 USD = AUD 1.10 as of 20-08-2013
Summarized
Financial Information
Consolidation type : Group Consolidated Group Consolidated Group 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 : 189,867,000 276,767,000 202,476,000
Profit before tax : 17,993,000 16,795,000 4,341,000
Net income : 12,902,000 12,522,000 4,171,000
Non current assets : 99,483,000 97,906,000 78,800,000
Current assets : 92,442,000 86,331,000 67,899,000
Inventories : 51,220,000 46,726,000 34,428,000
Total assets : 191,925,000 184,237,000 146,699,000
Current liabilities : 50,161,000 53,638,000 35,272,000
Non current liabilities : 33,189,000 31,904,000 19,705,000
Total liabilities : 83,350,000 85,542,000 54,977,000
Share equity : 108,575,000 98,695,000 91,722,000
Reserve : 7,689,000 7,071,000 8,316,000
Retained earning : 42,817,000 34,137,000 27,020,000
Comments : The group’s consolidated financial information above relates to the Subject’s
Parent / Ultimate Holding Company Maxitrans Industries Limited and all its subsidiaries which include the Subject.
Main activities : The Subject engages in manufacturing and distribution of trailing transport equipment
and solutions.
The Subject is a wholly owned subsidiary of Maxitrans Industries Limited, a
public listed company on the Australia Stock Exchange.
Maxitrans Industries Limited, together with its subsidiaries, engages in the
design, manufacture, sale, service, and repair of transport equipment and
related components and spare parts in Australia.
The company manufactures various trailer brands, and urethane foam and
body panels; supplies and distributes parts; provides service and repair
support; and sells and finances new and used trailing equipment.
Its products include curtain sided trailers, flat top semis, and skeletal
trailers; steel and aluminum semi tippers, B-doubles, side opening tippers,
walking floors, and flat top trailers; temperature controlled and dry freight
vans, and rigid truck bodies; fiberglass panels and body kits; doors and
insulation foam products; and brakes, axles, suspensions, and other parts
and components.
The company sells its products under the Freighter, Maxi-CUBE, Hamelex
White, Lusty EMS, Peki, Colrain, Maxus, and PanelMasta brand names. It
serves transport and logistics, fresh produce, food and beverage, building
and construction, agriculture, and natural resources industries.
Maxitrans Industries Limited was founded in 1946 and is headquartered in
Derrimut, Australia.
Brand :
· MAXITRANS
LUSTY EMS
HAMELEX WHITE
Purchases
International :
Mainly from China, Europe
Sales
Local : Yes
International : New Zealand
Property &
Assets
Premises : The Subject operates from head office at the verified heading address
consisting of a service centre, warehouse and an administrative office.
Branches : In addition, the Subject operates from branch production facilities and
offices located at:
MaxiTRANS
Manufacturing Ballarat
233 - 243 Learmonth Road
Wendouree, VIC 3355
Australia
Tel: +61 3 53390300
Dandenong Repairs and
Service
175 South Gippsland Highway
Dandenong, VIC 3175
Australia
Tel: +61 3 92154361
MaxiTRANS Used
Equipment
270 Hume Highway
Craigieburn, VIC 3064
Australia
Tel: +61 3 93055422
Hamelex White
175 South Gippsland Highway
Dandenong, VIC 3175
Australia
Tel: +61 3 87862100
PanelMasta and Hallam
Panel Plant
31 Hallam South Road
Hallam, VIC 3803
Australia
Tel: +61 3 92154389
Lusty EMS
787 Boundary Road
Richlands, QLD 4077
Australia
Tel: +61 7 33750000
MaxiTRANS Western
Australia
PO Box 1057
Morley, WA 6054
Australia
Tel: 1300 711 513
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 &
aming), 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
International : L/C, Prepayment, Telegraphic transfer, D/P, Credit 30-120 days
Sales Term
Local : Bank transfer, Prepayment, D/P, Credit 30-120 days
International : Telegraphic transfer, Prepayment, D/P, Credit 30-120 days
Trade Reference/
Payment Behaviour
Comments : As local and international trade references were not supplied, the Subject's
payment track record history cannot be appropriately determined but based
on our research, payments are believed to be met without delay.
Investigation Note
Sources : Interviews and material provided by the Subject
Other official and local business sources
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.46 |
|
UK Pound |
1 |
Rs.99.42 |
|
Euro |
1 |
Rs.85.12 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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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 |
|
<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.