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Report Date : |
24.08.2013 |
IDENTIFICATION DETAILS
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Name : |
METROPOLITAN COLLIERIES PTY. LTD. |
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Formerly known as: |
·
METROPOLITAN COLLIERIES LTD ·
MERCARD LTD (initial) |
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Registered Office : |
Level 14, BOQ Building, 259 Queen Street Brisbane Queensland 4000 |
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Country : |
Australia |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
10.07.1986 |
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Com. Reg. No.: |
003135635 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Operator of an underground coal mine located at Helensburgh, New South Wales, Australia. |
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No. of Employees : |
230 employees |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Good |
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Payment Behaviour : |
Regular |
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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 |
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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 : METROPOLITAN
COLLIERIES PTY. LTD.
Business address : Level 14,
BOQ Building
259 Queen Street
Town : Brisbane
Province : Queensland
Zip/postal code : 4000
Country : Australia
Tel : +61
7 32255500
Fax : +61
7 32255555
Email : info@peabodyenergy.com
Website : www.peabodyenergy.com.au
Registered address : Level 14,
BOQ Building
259 Queen Street
Town : Brisbane
Province : Queensland
Zip/postal code : 4000
Country : Australia
Postal address : GPO Box
164
Town : Brisbane
Province : Queensland
Zip/postal code : 4001
Country : Australia
Executive Summary
Date founded or registered : 10/07/1986
Legal form : Australian
Proprietary Company
Chief executive : Neville
James McAlary
Issued & paid up capital : AUD
45,358,000
Sales turnover : AUD
317,258,000 (Non-Consolidated 12 months, 31/12/2012)
Net income : AUD
52,175,000 (Non-Consolidated 12 months, 31/12/2012)
Total fixed assets : AUD
511,616,000 (Non-Consolidated 12 months, 31/12/2012)
Line of business :
Operator of an
underground coal mine located at Helensburgh, New South Wales, Australia.
Staff employed : 230
employees (Subject); 8,200 employees (Peabody Group)
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 very good
Organization structure : Organizational
structure is robust
Detrimental : No
detrimental found
Payment history : No
payment delays noted
Credit amount asked : Not
described.
Comments : Larger credit can
still be considered. The Subject is well positioned in the market and the
financial stability of the group is positive.
Registry Data
Registration date : 10/07/1986
Legal form : Australian
Proprietary Company
Registration no Australian Company Number: 003135635
Registered authority : Australian
Securities and Investments Commission
Fiscal/ Tax no : Australian Business Number: 91003135635
Registry status : Live/Active
Previous name : METROPOLITAN
COLLIERIES LTD
MERCARD LTD
(initial)
Change of legal form : None
reported.
Key Management
Name : George John
Schuller Jr.
Designation : Chief Operations
Officer
Name : Neville James
McAlary
Designation : Senior Vice
President Underground Operations
Appointments
Name : Maria
da Conceicao da Silva de Santana
Designation : Director
Appointment date : 17/09/09
Address : 4
Travorten Drive
Bridgeman Downs,
QLD 4035
Australia
Biography : Born
on 27-09-1962 in Madeira, Portugal.
Name : Neville
James McAlary
Designation : Director
Appointment date : 12/07/12
Address : 10
Yuruga Street
Austinmer, NSW
2515
Australia
Biography : Born
on 10-10-1962 in Wollongong, New South Wales, Australia.
Name : George
John Schuller Jr.
Designation : Director
Appointment date : 01/01/13
Address : Unit
1, 32 Austral Street
St Lucia, QLD 4067
Australia
Biography : Born
on 24-05-1963 in Ellwood City, Pennsylvania, United States.
Name : Murray
Paul Hundleby
Designation : Company
Secretary
Appointment date : 27/05/11
Address : 46
Illiliwa Street
Cremorne, NSW 2090
Australia
Biography : Born
on 18-10-1957 in Blenheim, New Zealand.
Staff employed : 230
employees (Subject); 8,200 employees (Peabody Group)
Key Advisors
Auditors : ERNST
& YOUNG
'Waterfront Place' Level 51
111 Eagle Street
Brisbane, QLD 4000
Australia
Composition
Authorized Capital : AUD
45,358,000
No of shares : 45,358,000
Ordinary Shares
Share par value : AUD 1
Issued capital : AUD
45,358,000
Paid up capital : AUD
45,358,000
How listed : Full List
Composition
Shareholder name : PEABODY
AUSTRALIA MINING PTY LTD
Address : Level
13, BOQ Building
259 Queen Street
Brisbane, QLD 4000
Australia
No. of shares : 45,358,000
Ordinary Shares
% of shares : 100%
Structure
Name : PEABODY ENERGY
CORPORATION
Affiliation type : Ultimate
Holding Company
Address : Peabody Plaza
701 Market Street
St. Louis, MO 63101-1826
United States
Comments : Peabody Energy Corporation
is the world’s largest private-sector coal company.
It owns interests in 28 active coal mining
operations located in the United States (U.S.) and Australia. In addition to
our mining operations, the Subject markets and brokers coal from its operations
and other coal producers, both as principal and agent, and trade coal and
freight-related contracts through trading and business offices in China,
Australia, the United Kingdom, Germany, Singapore, Indonesia,
India and the U.S.
Name : PEABODY ENERGY
AUSTRALIA PTY LTD
Affiliation type : Intermediate Holding Company
Address : Level 13, BOQ
Building
259 Queen Street
Brisbane, QLD 4000
Australia
Name : PEABODY
AUSTRALIA MINING PTY LTD
Affiliation type : Parent Company
Address : Level 13, BOQ Building
259 Queen Street
Brisbane, QLD 4000
Australia
Name : PEABODY
COALTRADE ASIA PRIVATE LTD.
Affiliation type : Sister Company
Address : 1, Temasek
Avenue
#21-03 Millenia Tower
Singapore 039192
Singapore
Name : PEABODY
INVESTMENT & DEVELOPMENT BUSINESS SERVICES BEIJING CO., LTD.
Affiliation type : Sister Company
Address : Suite 4201,
Beijing Yintai Center
Tower C, No.2 Jianguomenwai Avenue
Chaoyang District
Beijing 100022
China
Related companies and corporate affiliations comments : Other companies
of the Peabody Energy 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 : 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 : 31/12/12
Type of accounts : Full
audited
Currency : Australia
Dollar (AUD)
Exchange rate : 1
USD = AUD 1.11 as of 22-08-2013
Summarized
Financial Information
Consolidation type
: Non Consolidated Non Consolidated Group Consolidated
Currency : Australia Dollar
(AUD) Australia Dollar (AUD) US Dollar (USD)
Denomination : (x1) One (x1) One (x1) One
Date of financial
year end : 31/12/12 31/12/11 31/12/12
Length of accounts : 12
months 12 months 12 months
Sale turnover / Income : 317,258,000
330,769,000 8,077,500,000
Gross profit : 73,783,000
152,239,000
Profit before tax : 50,135,000
144,357,000 -208,600,000
Net income : 52,175,000
100,988,000 -575,100,000
Non current assets : 485,615,000
367,432,000 13,233,500,000
Current assets : 26,001,000
64,381,000 2,575,500,000
Inventories : 7,866,000
33,551,000 548,400,000
Total assets : 511,616,000
431,813,000 15,809,000,000
Current liabilities : 214,116,000
192,600,000 1,674,100,000
Non current liabilities :
16,710,000 10,598,000 9,196,100,000
Total liabilities : 230,826,000
203,198,000 10,870,200,000
Share equity : 280,790,000
228,615,000 4,938,800,000
Reserve : 43,988,000
43,988,000
Retained earning : 191,444,000
139,269,000 3,066,400,000
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 Peabody
Energy Corporation and all its subsidiaries which include the Subject.
Main activities : The
Subject operates an underground coal mine located at Helensburgh, New South
Wales, Australia.
The Metropolitan Mine is an underground mine located 30 kilometers north
of Wollongong near the township of Helensburgh that produces coking coal for
export and domestic markets. Metropolitan produced 2.1 million tons of saleable
coal in 2012.
The Subject is ultimately owned by Peabody Energy Corporation.
Peabody Energy Corporation (Peabody) is a private-sector coal company.
The Company owns interests in 28 active coal mining operations located
in the United States and Australia. The Company has a majority interest in 27
of those coal operations and a 50% equity interests in the Middlemount Mine in
Australia. The Company also owns a noncontrolling interest in a mining
operation in Venezuela. In addition to the Company's mining operations, the
Company markets and broker coals from its operations and other coal producers,
both as principal and agent, and trade coal and freight-related contracts
through trading and business offices. The Company conducts business through
four principal segments: Western United States. Mining, Midwestern U.S. Mining,
Australian Mining and Trading and Brokerage. The Company's fifth egment,
Corporate and Other, includes mining and export/transportation joint ventures,
activities associated with certain energy-related commercial matters, Btu
Conversion.
Purchases
International : Mainly
from United States, Asia, Europe
Sales
Local : Yes
International : Japan, Taiwan,
India, China, South Korea, Europe and South America
Property &
Assets
Premises : The Subject operates from premises at the
verified heading address consisting of an administrative office.
Branches : In addition, the
Subject operates from a branch office located nearby the coal mine located at:
Parkes Street
Helensburgh, NSW 2508
Australia
Tel: +61 2 42947204
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, t elecommunication 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,
Telegraphic transfer, D/P, D/A, Credit 30-120 days
Sales Term
Local : Bank transfer,
D/P, D/A, Credit 30-120 days
International : L/C,
Telegraphic transfer, D/P, D/A, 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.64.69 |
|
|
1 |
Rs.100.79 |
|
Euro |
1 |
Rs.86.30 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
|
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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.