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Report Date : |
15.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
BEMIS BRISBANE PTY LTD |
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|
|
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Registered Office : |
27 Union
Circuit, Yatala, Queensland 4207 |
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|
|
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Country : |
Australia |
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|
|
Financials (as on) : |
31.12.2012 |
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|
|
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Date of Incorporation : |
11.07.1978 |
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Com. Reg. No.: |
010047640 |
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Legal Form : |
Australian Proprietary Company |
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|
|
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Line of Business : |
Engaged in manufacturing and distribution of flexible
packaging products. |
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No. of Employees : |
30 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Australia |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Australia - ECONOMIC OVERVIEW
Australia's abundant and diverse natural resources attract high levels of foreign investment and include extensive reserves of coal, iron ore, 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 also has a large services sector and is a significant exporter of natural resources, energy, and food. Key tenets of Australia''s trade policy include support for open trade and the successful culmination of the Doha Round of multilateral trade negotiations, particularly for agriculture and services. The Australian economy grew for 17 consecutive years before the global financial crisis. Subsequently, the former RUDD government introduced a fiscal stimulus package worth over US$50 billion to offset the effect of the slowing world economy, while the Reserve Bank of Australia cut interest rates to historic lows. These policies - and continued demand for commodities, especially from China - helped the Australian economy rebound after just one quarter of negative growth. The economy grew by 1.4% during 2009 - the best performance in the OECD - by 2.7% in 2010, and by 1.8% in 2011. Unemployment, originally expected to reach 8-10%, peaked at 5.7% in late 2009 and fell to 5.0% in 2011. As a result of an improved economy, the budget deficit is expected to peak below 4.2% of GDP and the government could return to budget surpluses as early as 2015. Australia was one of the first advanced economies to raise interest rates, with seven rate hikes between October 2009 and November 2010. The GILLARD government is focused on raising Australia''s economic productivity to ensure the sustainability of growth, and continues to manage the symbiotic, but sometimes tense, economic relationship with China. Australia is engaged in the Trans-Pacific Partnership talks and ongoing free trade agreement negotiations with China, Japan, and Korea.
|
Source : CIA |
Verified Address
Subject
name : BEMIS BRISBANE PTY LTD
Business
address : 27 Union Circuit
Town :
Yatala
Province
: Queensland
Zip/postal
code : 4207
Country
: Australia
Tel : +61 7 33809111
Fax : +61 7 33809199
Website
: www.micris.com.au /
www.bemis.com
Registered
address : 27 Union Circuit
Town :
Yatala
Province
: Queensland
Zip/postal
code : 4207
Country
: Australia
Postal
address : P.O. Box 6249
Town :
Yatala DC
Province
: Queensland
Zip/postal
code : 4207
Country
: Australia
Executive Summary
Date
founded or registered : 11/07/1978
Legal
form :
Australian Proprietary Company
Chief
executive : Arif
Shehaab Ali
Issued
& paid up capital : AUD
1,054
Sales
turnover : AUD
40,000,000 (Estimated Non-consolidated 12 months, 31/12/2012)
Line
of business : Manufacturing
and distribution of flexible packaging products.
Staff
employed : 30
employees (Subject); 20,000 employees (Bemis Group)
Country
risk : Country
risk is minimal
Operation
trend : Operational
trend is steady
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 : 11/07/1978
Legal
form : Australian
Proprietary Company
Registration
no Australia Company Number: 010047640
Registered
authority : Australian
Securities and Investments Commission
Fiscal/
Tax no : Australia
Business Number: 68010047640
Registry
status : Live/Active
Previous name : The
Subject was previously known as MICRIS PTY. LTD. and changed to its current
style on 03-01-2013.
Change
of legal form : None
reported.
Key Management
Name :
Arif Shehaab Ali
Designation
: Managing Director
Name :
Andrew Egan
Designation
: Financial Manager
Appointments
Name :
Arif Shehaab Ali
Designation
: Director and Company
Secretary
Appointment
date : 22/08/12
Address
: 98 Ridgeview Street
Carindale, QLD 4152
Australia
Biography
: Born on 20-09-1968 in
Lautoka, Fiji.
Name :
William Austen
Designation
: Director
Appointment
date : 22/08/12
Address
: 4556 Bellhaven Lane
Oshkosh, WI 54904
United States
Biography
: Born on 23-09-1958 in
Brooklyn, New York, United States.
Mr. William F. Austen serves as Group President of Global
Operations at Bemis Company, Inc. Mr. Austen served as a
Vice
President of Operations at Bemis Co. Inc. since May 2004. He
served
as the President and Chief Executive Officer of MACtac
(trademark of
Morgan Adhesives Company, a subsidiary of Bemis Co. Inc.)
since
2000. Mr. Austen was responsible for the pressure sensitive
materials
business subsidiary, known as MACtac, and the paper
packaging
operations of Bemis. Prior to joining Bemis Company, he held
leadership positions at various manufacturing operations of
General
Electric Company, where he worked for 20 years from 1980 to
2000,
culminating in his position as General Manager, Global
Switchgear
Business. Mr. Austen has been a Director of Tennant Co. since
February 14, 2007. Mr. Austen holds a Bachelor of
Engineering
Degree in Marine Engineering from the State University of
New York
(SUNY) Maritime College and his Masters Degree in
Engineering
Administration from George Washington University.
Name :
Jerry Scott Krempa
Designation
: Director
Appointment
date : 22/08/12
Address
: 510 E Songbird Lane
Appleton, WI 54913
United States
Biography
: Born on 07-06-1960 in
Chicago, United States.
Staff
employed : 30 employees
(Subject); 20,000 employees (Bemis Group)
Key Advisors
Auditors
: GRANT THORNTON
Level 5, 102 Adelaide Street
Brisbane, QLD 4000
Australia
Composition
Authorized
Capital : AUD 1,054
No of
shares : 1,054 Ordinary
Shares
Share
par value : AUD 1
Issued
capital : AUD 1,054
Paid
up capital : AUD 1,054
How
listed : Full List
Composition
Shareholder
name : BEMIS COMPANY, INC.
Address
: One Neenah Center,
4th Floor
Neenah, WI 54956
United States
No. of
shares : 1,054 Ordinary
Shares
% of
shares : 100%
Structure
Name :
BEMIS COMPANY,
INC.
Affiliation
type : Parent Company
Address
: One Neenah Center,
4th Floor
Neenah, WI 54956
United States
Comments
: Bemis Company, Inc.
manufactures and sells flexible packaging products and
pressure sensitive materials in North America, Latin
America, Europe, and the
Asia Pacific. The company operates in two segments, Flexible
Packaging and
Pressure Sensitive Materials. The Flexible Packaging segment
manufactures a
range of multilayer flexible polymer film structures and
laminates for food,
medical, and personal care products, as well as for non-food
applications. It also
provides blown and cast stretch film products, carton
sealing tapes and
application equipment, custom thermoformed and injection
molded plastic
packaging, multiwall paper bags, printed paper roll stock,
and bag closing
materials. The Pressure Sensitive Materials segment
manufactures pressure
sensitive adhesive coated paper and film substrates
comprising label market
products, such as narrow-Web rolls of pressure sensitive
paper, film, and
metalized film printing stocks used in printing and
die-cutting; graphic market
products consisting of pressure sensitive films used for
decorative signage
through computer-aided plotters, digital and screen
printers, and photographic
over laminate and mounting materials, including optically
clear films with built-in
UV inhibitors; and technical market products, which comprise
micro-thin film
adhesives used in delicate electronic parts assembly and
pressure sensitive
applications. The company markets its products through its
direct sales force to
food, chemical, agribusiness, medical, pharmaceutical,
personal care, electronics,
automotive, construction, graphic industries, and other
consumer goods markets.
The company was formerly known as Bemis Bro. Bag Company and
changed its
name to Bemis Company, Inc. in 1965. Bemis Company, Inc. was
founded in
1858 and is headquartered in Neenah, Wisconsin.
Name :
BEMIS ASIA
PACIFIC SDN. BHD.
Affiliation
type : Sister Company
Address
: No 8, Jalan TP5,
Taman Perindustrian UEP
47600 Subang Jaya
Selangor Darul Ehsan
Malaysia
Name :
MACTAC
DEUTSCHLAND GMBH
Affiliation
type : Sister Company
Address
: Mathias-Brüggen-Straße
140
D-50829 Köln
Germany
Name :
BEMIS PACKAGING
DANMARK APS
Affiliation
type : Sister Company
Address
: Lokesalle 30
8700 Horsens
Denmark
Name :
BEMIS (U.K.)
LIMITED
Affiliation
type : Sister Company
Address
: 37 Tenter Road
Moulton Park Industrial Estate
Northampton NN3 6AX
United Kingdom
Related
companies and corporate
affiliations
comments
:
Other companies of the Bemis Group should be considered affiliates of the
Subject.
Bank Details
Name
of bank : Westpac Banking
Corporation
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 : Provided by
the Subject
Financial
statement date : 31/12/12
Type
of accounts : Estimated
key figures
Currency
:
Australia Dollar (AUD)
Exchange
rate : 1 USD = AUD
0.97 as of 11-02-2013
Summarized Financial Information
Consolidation
type : Non Consolidated
Currency
: Australia
Dollar (AUD)
Denomination
: (x1) One
Date
of financial year end : 31/12/12
Length
of accounts : 12 months
Sale
turnover / Income : 40,000,000
Comments
: The
estimated turnover was provided by Mr. Andrew Egan.
The Subject is classified as a small proprietary company by
the Australian
Securities & Investments Commission hence is not
required to disclose their financial statement.
A proprietary company is defined as small for a financial
year if it satisfies at least
two of the following:
- The consolidated revenue for the financial year of the
company and any entities it controls is less than $25 million;
-The value of the consolidated gross assets at the end of
the financial year of the company and any entities it controls is less than
$12.5 million, and
-The company and any entities it controls have fewer than 50
employees at the end of the financial year.
Main activities : The
Subject is engaged in manufacturing and distribution of flexible packaging
products.
The Subject is ultimately owned by Bemis Company, Inc., a
public listed
company on New York Stock Exchange.
Bemis Company, Inc.’s business activities are organized
around its two
business segments, Flexible Packaging and Pressure Sensitive
Materials.
Flexible Packaging Segment
The flexible packaging segment manufactures a broad range of
packaging
for food, consumer goods, and industrial applications.
Multilayer flexible
polymer film structures and laminates are sold for food,
medical, and
personal care products as well as non-food applications
utilizing vacuum or
modified atmosphere packaging. Additional products include
blown and
cast stretch film products, carton sealing tapes and
application equipment,
custom thermoformed and injection molded plastic packaging,
multiwall
paper bags, printed paper roll stock, and bag closing
materials. Markets
for our products include processed and fresh meat, liquids,
frozen foods,
cereals, snacks, cheese, coffee, condiments, candy, pet
food, bakery,
seed, lawn and garden, tissue, fresh produce, personal care
and hygiene,
disposable diapers, printed shrink overwrap for the food and
beverage
industry, agribusiness, pharmaceutical, minerals, and
medical device
packaging.
Pressure Sensitive Materials Segment
The pressure sensitive materials segment manufactures
pressure sensitive
adhesive coated paper and film substrates sold into label,
graphic, and
technical markets. Products for label markets include
narrow-web rolls of
pressure sensitive paper, film, and metalized film printing
stocks used in
high-speed printing and die-cutting. Products for graphic
markets include
pressure sensitive films used for decorative signage through
computer-aided plotters, digital and screen printers, and
photographic
overlaminate and mounting materials including optically
clear films with
built-in UV inhibitors. Products for technical markets
include micro-thin film
adhesives used in delicate electronic parts assembly and
pressure
sensitive applications utilizing foam and tape based stocks
to perform
fastening and mounting functions.
Product & services : Vacuum packaging products
Pouches
Modified Atmosphere Packaging
Processing Films and Casings
Films and Pouches
Food Safety Pads
Specialty Films and Products
Purchases
International : Worldwide
Sales
Local
: Yes
International
: China,
India, South Pacific
Property & Assets
Premises : The
Subject operates from premises located at the verified heading address
consisting of a production facility, warehouse and administrative office.
Branches
: In
addition, the Subject operates from the following branches located at:
Sydney
21 Bentley Street
Wetherill Park, NSW 2164
Australia
Tel: +61 2 97255910
Fax: +61 2 97253665
Melbourne
5 Cliveden Court
Thomastown, VIC 3074
Australia
Tel: +61 3 94664400
Fax: +61 3 94664411
Perth
Unit 15/30 Dollier Street
Jandakot, WA 6164
Australia
Tel: +61 8 94148233
Fax: +61 8 94148266
Gross Domestic Products (GDP) &
Economic Overview
Central
bank : Reserve
Bank of Australia
Reserve
of foreign exchange & gold : US$
43.879 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
: 2009:
1.8%
2010: 2.8%
2011: 3.4%
Unemployment
rate : 2009:
5.6%
2010: 5.2%
2011: 5.1%
Public
debt
(General
Government gross debt as
a %
GDP)
: 2009: 16.9%
2010: 20.4%
2011: 22.9%
Government
bond ratings : Standard
& Poor's: AAA/Stable/A-1+
Moody's rating: Aaa
Moody's outlook: STA
Market
value of publicly traded
shares
: US$1.258 trillion
Largest companies in the country : Commonwealth Bank (Banking), BHP Billiton (Materials),
Westpac Banking
Group (Banking), Rio Tinto (Materials), National Australia
Bank (Banking),
ANZ Banking (Banking), Telstra (Telecommunications)
Trade & Competitiveness Overview
Total
exports : US$210.7 billion
Exports
commodities : Coal, iron
ore, gold, meat, wool, alumina, wheat
Total
imports : US$187.2
billion
Imports commodities : Machinery
and transport equipment, computers and office machines, telecommunication
equipment and parts, crude oil and petroleum products
Export
- major partners : Japan
18.9%, China 14.2%, South Korea 8%, US 6%, NZ 5.6%, India
5.5%, UK 4.2%
Import
- major partners : China
15.5%, US 12.8%, Japan 9.6%, Singapore 5.6%, Germany 5.2%,
UK 4.3%, Thailand 4.2%
FDI
Inflows : 2008:
US$46,843 million
2009: US$25,716 million
2010: US$32,472 million
FDI
Outflows : 2008:
US$33,604 million
2009: US$16,160 million
2010: US$26,431 million
Best
countries for doing business : 10 out of 183 countries
Global
competitiveness ranking : 20 (ranking by country on a basis of 142, the first
is the best)
Country and Population Overview
Total
population : 22.23
million
Total
area : 7,692,024
km2
Capital
: Canberra
Currency
: Australian
dollars (AUD)
Internet
users as % of total
population
: 76%
Purchase Term
International
: Prepayment, Telegraphic transfer,
D/P, Credit 30-120 days
Sales Term
Local
: Prepayment, Bank transfer,
D/P, Credit 30-120 days
International
: L/C, 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.53.87 |
|
|
1 |
Rs.83.59 |
|
Euro |
1 |
Rs.72.37 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.