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Report Date : |
06.12.2013 |
IDENTIFICATION DETAILS
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Name : |
ATLAS SPECIALTY METALS PTY
LTD |
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Formerly Known As : |
ATLAS SPECIALITY METALS PTY LTD |
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Registered Office : |
13-23 Lynch Road, Brooklyn,
Victoria, Zip code 3012 |
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Country : |
Australia |
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Financials (as on) : |
30.06.2011 (Consolidated) |
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Date of Incorporation : |
21.10.1960 |
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Com. Reg. No.: |
004496128 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
· distributor of stainless steel, aluminum, engineering steel bars and carbon tubes, and pipes and fittings. Subject 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. Subject 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 |
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No. of Employees : |
100 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 – September 30th, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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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 : 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
1.10 as of 02-12-2013
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
and 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 & 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%
PAY
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
T HISTORY
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.69 |
|
UK Pound |
1 |
Rs.101.08 |
|
Euro |
1 |
Rs.84.07 |
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 |
|
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.