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Report Date : |
15.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
EMEIS
COSMETICS PTY. LTD. |
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Registered Office : |
25
Smith Street, Fitzroy Victoria 3065 |
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Country : |
Australia |
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Financials (as on) : |
30.06.2012 |
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Date of Incorporation : |
21.05.1990 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Subject is engaged in research, development and distribution of beauty products. |
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No. of Employees : |
80 |
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 – 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 |
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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
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 : EMEIS COSMETICS PTY.
LTD.
Business
address : 25 Smith Street
Town :
Fitzroy
Province
: Victoria
Zip/postal
code : 3065
Country
: Australia
Tel : +61 3 94128900
Fax : +61 3 94128990
Website
: www.aesop.com
Registered
address : 25 Smith Street
Town :
Fitzroy
Province
: Victoria
Zip/postal
code : 3065
Country
: Australia
Executive Summary
Date
founded or registered : 21/05/1990
Legal
form : Australian
Proprietary Company
Chief
executive : Michael
Anthony O'Keeffe
Issued
& paid up capital : AUD 5
Sales
turnover : AUD 40,603,108
(Group-consolidated 12 months, 30/06/2012)
Net
income : AUD
1,545,735 (Group-consolidated 12 months, 30/06/2012)
Total
fixed assets : AUD
19,172,087 (Group-consolidated 12 months, 30/06/2012)
Line
of business : Research,
development and distribution of beauty products.
Staff
employed : 80
employees (Subject); 362 employees (Emeis Group)
Country
risk : Country
risk is minimal
Operation
trend : Operational trend is steady
Management
experience : Management is
reasonably experienced
Financial
performance : Financial
performance is fair
Organization
structure : Organizational
structure is stable
Detrimental
: No detrimental found
Payment
history : No payment
delays noted
Registry Data
Registration
date : 21/05/1990
Legal
form : Australian
Proprietary Company
Registration
no Australia Company Number: 007409001
Registered
authority : Australian
Securities and Investments Commission
Fiscal/
Tax no : Australia
Business Number: 56007409001
Registry
status : Live/Active
Previous
name : TWENTY-FOURTH
WARINA PTY. LTD. (initial)
Change
of legal form : None
reported.
Key Management
Name :
Michael Anthony
O'Keeffe
Designation
: Chief Executive Officer
Name :
Matthew Nott
Designation
: Financial Manager
Appointments
Name :
Dennis Paphitis
Designation
: Director
Appointment
date : 23/05/90
Address
: 1 White Lodge Court
Kew, VIC 3101
Australia
Biography
: Born on 11-02-1963 in
Melbourne, Victoria, Australia.
Name :
Michael Anthony
O'Keeffe
Designation
: Director
Appointment
date : 04/04/12
Address
: 243 The Boulevard
Ivanhoe East, VIC 3079
Australia
Biography
: Born on 15-03-1970 in
Melbourne, Victoria, Australia.
Name :
Jeremy Steele
Designation
: Director
Appointment
date : 04/04/12
Address
: 2 Opawa Street
Brighton, VIC 3186
Australia
Biography
: Born on 08-06-1973 in
Loxton, South Australia, Australia.
Name :
Kieran James
Rivett
Designation
: Company Secretary
Appointment
date : 04/04/12
Address
: 21 Candy Street
Northcote, VIC 3070
Australia
Biography
: Born on 31-12-1971 in
Melbourne, Victoria, Australia.
Staff
employed : 80 employees
(Subject); 362 employees (Emeis Group)
Composition
Authorized
Capital : AUD 5
No of
shares : 5 Ordinary Shares
Share
par value : AUD 1
Issued
capital : AUD 5
Paid
up capital : AUD 5
How
listed : Full List
Composition
Shareholder
name : EMEIS HOLDINGS PTY LTD
Address
: 25 Smith Street
Fitzroy, VIC 3065
Australia
No. of
shares : 5 Ordinary Shares
% of
shares : 100%
Structure
Name :
NATURA COSMÉTICOS
S.A.
Affiliation
type : Ultimate Holding
Company
Address
: Rodovia Regis
Bittencourt, km 293 ed. I - N/a - Potuvera
Itapecerica da Serra
Sao Paulo 06850-000
Brazil
Comments : Natura
Cosméticos S.A. engages in the development, production, distribution, qand sale
of cosmetics, fragrances, and hygiene products. It is also involved in the
product and technology development, and market research; and provision of in
vitro research and testing services. It operates primarily in Brazil,
Argentina, Chile, Peru, Mexico, Colombia, and Latin America. The company is
headquartered in Itapecerica da Serra, Brazil.
Name :
EMEIS HOLDINGS
PTY LTD
Affiliation
type : Parent Company
Address
: 25 Smith Street
Fitzroy, VIC 3065
Australia
Name :
EMEIS TRADING PTY
LTD
Affiliation
type : Sister Company
Address
: 25 Smith Street
Fitzroy, VIC 3065
Australia
Name :
NATURA COSMÉTICOS
ESPAÑA S.L.
Affiliation
type : Sister Company
Address
: C/ Gran Via De Les
Corts Catalanes, 583
P.5., Barcelona 08011
Spain
Name :
NATURA COSMÉTICOS
S.A.
Affiliation
type : Sister Company
Address
: Av. Apoquindo, 4501
Piso 9, Las Condes
Santiago
Chile
Related
companies and corporate
affiliations
comments
:
Other companies of the Natura Group should be considered affiliates of the
Subject.
Name
of bank : National Australia
Bank
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 : 30/06/12
Type
of accounts : Full
audited
Currency
: Australia
Dollar (AUD)
Exchange
rate : 1
USD = AUD 0.97 as of 11-02-2013
Summarized Financial Information
Consolidation
type : Group
Consolidated Group
Consolidated
Currency
: Australia
Dollar (AUD) Australia
Dollar (AUD)
Denomination
: (x1)
One (x1)
One
Date
of financial year end : 30/06/12
30/06/11
Length
of accounts : 12
months 12
months
Sale
turnover / Income : 40,603,108
30,634,288
Profit
before tax : 2,508,556
888,719
Net
income : 1,545,735
646,906
Non
current assets : 7,427,775
5,566,282
Current
assets : 11,744,312
7,214,737
Inventories
: 4,746,341
3,526,148
Total
assets : 19,172,087
12,781,019
Current
liabilities : 7,039,695
4,176,247
Non
current liabilities : 3,637,578
1,889,737
Total
liabilities : 10,677,273
6,065,984
Share
equity : 8,494,814
6,715,035
Retained
earning : 2,302,948
757,213
Comments : The
group’s consolidated financial information above relates to the Subject’s
Parent Company Emeis Holdings Pty Ltd and all its subsidiaries which include
the Subject.
Main activities : The Subject is engaged in research,
development and distribution of
beauty products.
As of 7 January 2013, the Subject operates as a subsidiary
of Natura
Cosméticos SA.
Natura Cosméticos S.A. engages in the development,
production,
distribution, and sale of cosmetics, fragrances, and hygiene
products. It is
also involved in the product and technology development, and
market
research; and provision of in vitro research and testing
services. It operates
primarily in Brazil, Argentina, Chile, Peru, Mexico,
Colombia, and Latin
America. The company is headquartered in Itapecerica da
Serra, Brazil.
Product & services : Hair Care products
Shampoo, conditioner, scalp treatments, hair cream
Body Care products
Deodorant, hand cream, body cleanser & scrub, handwash,
mouthwash
Fragrance
Eau De Toilette for men & women, perfume
Gift Kits
Kits include body oil, shaving duet, hair and body products.
flight gift sets
among others
Skincare products
Anti-oxidant products for skin, eye serum, facial cream,
shave lotion, facial
cleanser, exfoliating paste, skin toner, cleansing masque,
make up
remover
Brand : AESOP
Purchases
International : Europe, Middle East, Asia
Sales
Local : Yes
International : United States, Europe, Asia,
Middle East
Key events : 20 December 2012
Brazil Natura To Buy 65% Stake in Australia's Aesop For
$71.6M
SAO PAULO--Brazilian cosmetics company Natura Cosmeticos SA
(NATU3.BR) on Thursday said it has agreed to buy a 65% stake
in
Australian high-end beauty-product retailer Emeis Holdings
for $71.6
million, expanding its international presence.
Natura said it expects to conclude the deal by April 30.
Emeis operates
under the Aesop brand name across Australia, Asia, Europe
and North
America.
Natura and Aesop will continue to operate as independent companies
but
will share regional expertise, according to the statement.
Natura already has operations in Brazil, Argentina, Chile,
Peru, Mexico and
Colombia.
Natura sells cosmetics and fragrances door to door in Latin
America and is
market leader in Brazil, the world's second-largest beauty
market,
according to market researcher Euromonitor International.
But it doesn't
have a significant presence elsewhere.
Aesop, based in Melbourne, operates more than 60 stores in
11 countries.
It has locations in such areas as New York, Tokyo and Hong
Kong. Aesop
has opened 14 stores this year.
Natura also will buy distributors of Aesop's products to
high-end
department stores around the world, The Wall Street Journal
reported
Thursday, citing people familiar with the matter. That could
allow Natura to
expand internationally and gain retail outlets where it can
increase its
visibility and build its brand.
Natura also sells door-to-door in Argentina, Mexico, Chile,
Peru and
Colombia. It is the world's fourth-largest direct seller by
market share,
behind Avon Products Inc. (AVP), Amway Corp. and Japan
Consumers
Cooperative Union, according to Euromonitor. The market's
other major
companies include Herbalife Ltd. (HLF), Mary Kay Inc. and
Tupperware
Brands Corp. (TUP).
Natura sells lipsticks, sunscreens and creams made from
local ingredients
such as macadamia nuts and acai berries.
Aesop sells products for skin, hair and body and expects to
generate about
64 million Australian dollars ($67.4 million) in sales in
the year ending in
June. The deal would give it an opening to Brazil's market.
Lazard Ltd. advised Natura, and Goldman Sachs Group Inc.
advised
Aesop.
Property & Assets
Premises : The Subject operates from
premises located at the verified heading
address consisting of a administrative office, research and
development
facility.
Branches : In addition, the Subject
operates from branch office located at:
500 Oxford Street
Bondi Junction, NSW 2022
Australia
Tel: +61 2 93694944
Gross Domestic Products (GDP) &
Economic Overview
Central
bank : Reserve
Bank of Australia
Reserve
of foreign exchange & gold : US$
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 30-90 days
Sales Term
Local : Prepayment,
Bank transfer, D/P, Credit 30-90 days
International
: Prepayment, Telegraphic transfer, D/P, Credit 30-90 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.