|
Report Date : |
30.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
ATLAS SPECIALTY METALS PTY LTD |
|
|
|
|
Formerly Known As : |
ATLAS SPECIALITY METALS PTY LTD |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
30.06.2011 |
|
|
|
|
Date of Incorporation : |
21.10.1960 |
|
|
|
|
Com. Reg. No.: |
004496128 |
|
|
|
|
Legal Form : |
Australian Proprietary Company |
|
|
|
|
Line of Business : |
Processing and distributor of stainless and specialty steel products. |
|
|
|
|
No. of Employees : |
100 employees |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow |
|
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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 : ATLAS
SPECIALTY METALS PTY LTD
Other style / Business name : ATLAS
SPECIALTY METALS
Business address : 13-23
Lynch Road
Town : Brooklyn
Province : Victoria
Zip/postal code : 3012
Country : Australia
Tel : +61 3 92729999
Fax : +61
3 92729950
Email : vicsales@atlassteels.com.au
Website : www.atlassteels.com.au
Registered address : 13-23
Lynch Road
Town : Brooklyn
Province : Victoria
Zip/postal code : 3012
Country : Australia
Executive Summary
Date founded or registered : 21/10/1960
Legal form : Australian
Proprietary Company
Chief executive : Steven
James Annear
Issued & paid up capital : AUD
14,542,001
Sales turnover : AUD 214,833,000 (Consolidated 12
months, 30/06/2011)
Net income : AUD
-13,069,000 (Consolidated 12 months, 30/06/2011)
Total fixed assets : AUD
127,647,000 (Consolidated 12 months, 30/06/2011)
Line of business : Processing
and distributor of stainless and specialty steel products.
Staff employed : 100
employees
Company Analysis
Country risk : Country
risk is minimal
Operation trend : Operational
trend is declining
Management experience : Management
is reasonably experienced
Financial performance : Financial
performance is deteriorating
Organization structure : Organizational
structure is acceptable
Detrimental : No detrimental found
Payment history : No
payment delays noted
Comments : It is advisable to
conduct business dealing on prepayment or L/C for larger credit transaction
than suggested. The Subject faced losses in 2010 & 2011 and caution is
needed as equity balance could face a deficit if large losses incurred for
following financial year end.
Registry Data
Registration date : 21/10/1960
Legal form : Australian
Proprietary Company
Registration no Australian Company Number: 004496128
Registered authority : Australian
Securities and Investments Commission
Fiscal/ Tax no : Australian Business Number: 13004496128
Registry status : Live/Active
Previous name : The
Subject was established on 21-10-1960 under the name ATLAS STEELS (AUSTRALIA)
PTY. LIMITED and changed its name to ATLAS SPECIALITY METALS PTY LTD on
01-12-2007. ATLAS SPECIALITY METALS PTY LTD then changed to the current style
on 01-03-2008.
Change of legal form : None
reported.
Other registration
: ATLAS
SPECIALTY METALS is a business name owned by the Subject registered in 6
different provinces in Australia under business registration no: VIC B1692235D,
TAS BN01384650, SA BN04182730, WA BN09758318, NT BN00946990 and QLD BN18539907.
Key Management
Name : Steven
James Annear
Designation : Managing
Director
Name : Benjamin
Ultimo Curulli
Designation : Chief
Financial Officer
Appointments
Name : Steven
James Annear
Designation : Director
Appointment date : 05/11/08
Address : 20
May Street
Hampton, VIC 3188
Australia
Biography : Born
on 18/03/1961 in Rosebery, Tasmania, Australia.
Name : Barry
King
Designation : Director
Appointment date : 30/03/12
Address : 6
Pyrford Woods Close
Woking GU22 8QN
United Kingdom
Biography : Born
on 07/06/1957 in United Kingdom.
Name : Stuart
Robinson
Designation : Director
Appointment date : 30/03/12
Address : 110
Main Street
Kinoulton, Nottingham NG12 3EN
United Kingdom
Biography : Born
on 09/04/1950 in Sheffield, United Kingdom.
Name : Benjamin
Ultimo Curulli
Designation : Company
Secretary
Appointment date : 14/09/12
Address : 56
Windella Avenue
Kew East, VIC 3102
Australia
Biography : Born
on 26/11/1966 in Melbourne, Victoria, Australia.
Staff employed : 100
employees
Key Advisors
Auditors : HLB
MANN JUDD
160 Queen Street
Melbourne, VIC 3000
Australia
Composition
Authorized Capital : AUD
14,542,001
No of shares : 14,352,000
Ordinary Shares
Share par value : No par
value
Issued capital : AUD
14,542,001
Paid up capital : AUD
14,542,001
How listed : Full
List
Composition
Shareholder name : AMARI
METALS AUSTRALIA LTD
Address : Suite
555, 555 Skokie Boulevard
Northbrook, Illinois 60062
United States
No. of shares : 14,352,000
Ordinary Shares
% of shares : 100%
Structure
Name : HENLEY
MANAGEMENT COMPANY
Affiliation type : Ultimate
Holding Company
Address : Suite
555, 555 Skokie Boulevard
Northbrook, Illinois 60062
United States
Name : AMARI
METALS LIMITED
Affiliation type : Intermediate
Holding Company
Address : 25
High Street
Cobham
Surrey KT11 3DH
United Kingdom
Comments : The company distributes stainless
steel, aluminum, brass, copper, and high value metals. The company is said to
be one of Europe's largest independent multi-metals stockholders. The company
was incorporated in 1986 and is based in Cobham, United Kingdom.
The company also
acts as a holding company.
Name : AMARI
METALS AUSTRALIA LTD
Affiliation type : Parent
Company
Address : Suite
555, 555 Skokie Boulevard
Northbrook, Illinois 60062
United States
Name : GILBERT
LODGE (N.Z.) LIMITED
Affiliation type : Wholly-owned
Subsidiary
Address : 66
Harris Road
East Tamaki, 2013 Auckland
New Zealand
Comments : Strucked
off.
Name : ATLAS
SPECIALTY METALS LIMITED
Affiliation type : Wholly-owned
Subsidiary
Address : 66
Harris Road
East Tamaki, 2013 Auckland
New Zealand
Name : ATLAS METAL PROCESSORS PTY LTD
Affiliation type : Wholly-owned
Subsidiary
Address : 13-23
Lynch Road
Brooklyn, VIC 3012
Australia
Name : AALCO
METALS LIMITED
Affiliation type : Sister
Company
Address : 25
High Street
Cobham
Surrey KT11 3DH
United Kingdom
Comments : Aalco is a independent metal
stockholders with an extensive inventory of aluminium, stainless Steel, copper,
brass and bronze in all semi-finished forms.
Name : DALSTEEL
METALS PTY LIMITED
Affiliation type : Sister
Company
Address : Suite
1503, Level 15
1 Alfred Street
Sydney, NSW 2000
Australia
Comments : Independent
stockist/distributor of stainless steel & aluminium products in Australia.
Name : AMARI
AEROSPACE LIMITED
Affiliation type : Sister
Company
Address : Unit 1, Mauretania Road
Nursling, Southampton SO16 OYS
United Kingdom
Comments : Amari Aerospace, a division of
Amari Metals, specialises in the supply of semi finished metal products such as
bar, sheet, plate and forgings to the Aerospace, Defence, Motorsport and High
Tech industries.
Name : CASHMORES
METALS LIMITED
Affiliation type : Sister
Company
Address : 25
High Street
Cobham
Surrey KT11 3DH
United Kingdom
Comments : Metal
stockholding.
Related companies and corporate affiliations comments: Other companies
of the Amari 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 : Commercial
Registry Filings
Financial statement date : 30/06/11
Type of accounts : Full
audited
Currency : Australia
Dollar (AUD)
Exchange rate : 1
USD = AUD 1.12 as of 06-08-2013
Summarized
Financial Information
Consolidation type : Consolidated
Consolidated
Currency : Australia
Dollar (AUD) Australia
Dollar (AUD)
Denomination : (x1)
One (x1)
One
Date of financial year end : 30/06/11
30/06/10
Length of accounts : 12
months 12
months
Sale turnover / Income : 214,833,000
200,700,000
Gross profit : 37,425,000
38,931,000
Profit before tax : -15,765,000
-14,453,000
Net income : -13,069,000
-14,470,000
Non current assets : 14,784,000
19,061,000
Current assets : 112,863,000
135,620,000
Inventories : 74,115,000 94,423,000
Total assets : 127,647,000
154,681,000
Current liabilities : 94,949,000
111,225,000
Non current liabilities : 28,832,000
25,909,000
Total liabilities : 123,781,000
137,134,000
Share equity : 3,866,000
17,547,000
Reserve : -3,952,000 -3,646,000
Retained earning : 7,438,000
20,813,000
Comments : The consolidated
financial information above relates to the Subject and its subsidiaries.
Furthermore, the Subject's latest financial information was not filed with
Australian Securities and Investments Commission.
Main activities : The Subject distributes
stainless steel, aluminum, engineering steel bars nd carbon tubes, and pipes
and fittings. It offers stainless steel flat products, including sheets, coils,
and plates; stainless steel tubular products, including tubes, tube fittings,
pipes, and pipe fittings; aluminium sheets, coils, plates, and tread plates;
and quenched and tempered steel plates. The company also provides engineering
steel bars, including carbon steel, alloy steel, chrome, hollow, cast iron, and
stainless steel bars; and carbon steel tubular products, including welded
pipes, pipes, fittings, flanges, tubes, and RHS and pipes. In addition, it
offers processing services, including length based processing, plasma
processing, and sheet and coil processing; and project services, including
supply, logistics, warehousing and management, and support services. The
company serves oil and gas, pulp and paper manufacturing, energy generation,
water and waste control, pharmaceutical processing, construction, food and
beverage, petrochemical processing, mining, minerals processing,
transportation, and defense sectors.
Product & services : 1)
Stainless steel flat products: sheet, coil, and plate
2) Stainless steel/aluminum tubular
products: tubes, tube fittings, pipes and pipe fittings; aluminum sheets,
coils, plates and tread plates
3) Engineering Steel Bars Products: carbon
steel, alloy steel, chrome, hollow, cast iron and stainless steel bars
4) Carbon steel tubular products: welded
pipes, pipes, fittings, flanges and tubes
5) Processing services including length
based processing, plasma processing and sheet and coil processing
Purchases
International :
China, Taiwan, South Korea, India, Germany
Sales
Local : Yes
International : Inter
company exports to New Zealand
Property &
Assets
Premises : The Subject
operates from headquarters at the verified heading address consisting of a
warehouse and an administrative office.
Branches : In
addition, the Subject operates from branch offices located at:
14 Mcharry Place
Shepparton, VIC 3630
Australia
Tel: +61 3 58315499
16 Moloney Drive
Wodonga, VIC 3690
Australia
Tel: +61 2 60567211
41 Lyn Parade
Prestons, NSW 2170
Australia
Tel: +61 2 98257500
12 Pippita Close
Beresfield, NSW 2322
Australia
Tel: +61 2 49225566
1302 Boundary Road
Wacol, QLD 4076
Australia
Tel: +61 7 32469999
15 Bassett Street
Gladstone, QLD 4680
Australia
Tel: +61 7 49769088
42A Commercial Avenue
Paget, QLD 4740
Australia
Tel: +61 7 49523455
27-41 Toll Street
Bohle, QLD 4818
Australia
Tel: +61 7 47747316
9 Capelli Road
Wingfield, SA 5013
Australia
Tel: +61 8 83591100
2-4 Derby Street
Mowbray, TAS 7248
Australia
Tel: +61 3 63266055
407 Victoria Road
Malaga, WA 6090
Australia
Tel: +61 8 92099699
Lot 2847 Pruen Road
Berrimah, NT 0828
Australia
Tel: +61 8 89472717
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
International : Telegraphic
transfer, D/P, Credit 30-120 days
Sales Term
Local : Bank transfer,
Prepayment, D/P, Credit 30-120 days
International : Telegraphic
transfer, 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.67.70 |
|
|
1 |
Rs.105.14 |
|
Euro |
1 |
Rs.90.03 |
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.