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Report Date : |
28.01.2013 |
IDENTIFICATION DETAILS
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Name : |
OTTER GROUP PTY LTD |
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Registered Office : |
25 Logis Boulevard, Dandenong South, Victoria, 3175 |
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Country : |
Australia |
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Date of Incorporation : |
11.12.1951 |
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Com. Reg. No.: |
004295130 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Suppliers of common nails, gun nails, screws and wire and sheet metal products. |
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No. of Employees : |
115 employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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) |
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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
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 : OTTER
GROUP PTY LTD
Business address : 25
Logis Boulevard
Town :
Dandenong South
Province :
Victoria
Zip/postal code : 3175
Country :
Australia
Tel :
+61 3 87872999
Fax :
+61 3 87872989
Email :
sales@otter.com.au
Website :
www.otter.com.au
Registered address : 25
Logis Boulevard
Town :
Dandenong South
Province :
Victoria
Zip/postal code : 3175
Country :
Australia
Executive Summary
Date founded or registered :
11/12/1951
Legal form :
Australian Proprietary Company
Chief executive :
George Varelas
Issued & paid up capital :
AUD 23,300
Sales turnover :
AUD 38,000,000 (Estimated Non-consolidated 12 months, 30/06/2012)
Line of business : Suppliers of common nails, gun nails, screws
and wire and sheet metal products.
Staff employed : 115 employees
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 good
Organization structure :
Organizational structure is stable
Detrimental : No
detrimental found
Payment history :
No payment delays noted
Credit amount asked :
Not described.
Registry Data
Registration date :
11/12/1951
Legal form :
Australian Proprietary Company
Registration no Australian Company Number : 004295130
Registered authority :
Australian Securities and Investments Commission
Fiscal/ Tax no : Australian Business Number : 90004295130
Registry status :
Live/Active
Previous name :
OTTER NAILS PROPRIETARY LIMITED
CEPCO HARDWARE PROPRIETARY LIMITED
HULSWIT AND WINSTON PROPRIETARY LIMITED
HULSWIT AND WINSTON LIMITED (initial)
Change of legal form :
None reported.
Key Management
Name :
George Varelas
Designation :
Chief Executive Officer
Name :
Phil Turner
Designation :
Chief Financial Officer
Appointments
Name :
Raymond John Otter
Designation :
Director
Appointment date :
04/05/77
Address : 11
Redleaf Way
Wheelers Hill, VIC 3150
Australia
Biography :
Born on 28/07/1941 in Melbourne, Victoria, Australia.
Name :
Glenn Andrew Otter
Designation :
Director and Company Secretary
Appointment date :
10/11/05
Address :
179 Brighton Street
Richmond, VIC 3121
Australia
Biography :
Born on 22-03-1972 in Caulfield, Victoria, Australia.
Staff employed : 115
employees
Key Advisors
Auditors :
PITCHER PARTNERS
Level 19, 15 William Street
Melbourne, VIC 3000
Australia
Composition
Authorized Capital : AUD
23,300
No of shares :
2,650 Class A Shares / 9,000 Class B Shares
Share par value : AUD 2
Issued capital : AUD
23,300
Paid up capital : AUD
23,300
How listed :
Full List
Composition
Shareholder name : OTTER
HOLDINGS AUSTRALIA PTY LTD
Address : 25
Logis Boulevard
Dandenong South, VIC 3175
Australia
No. of shares : 2,650 Class A Shares / 9,000 Class
B Shares
% of shares :
100%
Structure
Name :
OTTER FENCING PROPRIETARY LIMITED
Affiliation type :
Ultimate Holding Company
Address : 25
Logis Boulevard
Dandenong South, VIC 3175
Australia
Comments : Manufacturing of Chain-Link
fabric for security fencing and gates with the latest automated machinery and
can supply only or supply and install to suit a wide range of fencing
applications, including Tubular Panel fencing and gates.
Name :
OTTER HOLDINGS AUSTRALIA PTY LTD
Affiliation type :
Parent Company
Address : 25
Logis Boulevard
Dandenong South, VIC 3175
Australia
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 :
Satisfied Charges:
ASIC Charge Number : 69115
Date Registered : 13-03-1986
Charge type :
Fixed
Date Created :
26-02-1986
Chargees Name : GE FINANCE AUSTRALASIA
PTY LTD
ASIC Charge Number : 69132
Date Registered : 29-05-1986
Charge type :
Fixed
Date Created :
12-05-1986
Chargees Name : GE FINANCE
AUSTRALASIA PTY LTD
ASIC Charge Number : 320268
Date Registered : 22-11-1991
Charge type :
Both Fixed & Floating
Date Created :
06-11-1991
Chargees Name : WESTPAC BANKING
CORPORATION
ASIC Charge Number : 437818
Date Registered : 09-05-1994
Charge type :
Both Fixed & Floating
Date Created :
30-03-1994
Chargees Name : NATIONAL AUSTRALIA
BANK LIMITED
ASIC Charge Number : 726205
Date Registered : 01-12-1999
Charge type :
Fixed
Date Created :
15-10-1999
Chargees Name : DONOVAN, BERYL
FLORENCE
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 :
30/06/12
Type of accounts :
Estimated key figures
Currency :
Australia Dollar (AUD)
Exchange rate :
1 USD = AUD 0.95 as of 22-01-2013
Summarized
Financial Information
Consolidation type :
Non Consolidated
Currency :
Australia Dollar (AUD)
Denomination :
(x1) One
Date of financial year end :
30/06/12
Length of accounts :
12 months
Sale turnover / Income :
38,000,000
Comments :
The estimated turnover was provided by Mr. Phil Turner.
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 $12.5 million, and -The company and any entities it controls have fewer
than 50 employees at the
end of the financial year.
Main activities :
The Subject is engaged in import & wholesale distribution of nails, screws,
wire products and sheet metal products.
The Subject products are distributed via
leading hardware and industrial
outlets throughout Australia.
Product & services :
Nails Screws Wire products Sheet metal
Brand :
OTTER, TITAN, SCREWFIX, NATIONAL
Purchases
International :
China, Taiwan, India, Indonesia, Malaysia, United States, New Zealand, Hong
Kong
Sales
Local :
Yes
International :
Pacific Islands, New Zealand
Property &
Assets
Premises : The Subject operates from
premises located at the verified heading address consisting of a administrative
office and warehouse.
Branches : In addition, the Subject
operates from branch offices and distribution centers located in Sydney,
Brisbane, Perth, Adelaide, Hobart and Townsville.
Gross Domestic
Products (GDP) & Economic Overview
Central bank :
Reserve Bank of Australia
Reserve of foreign exchange & gold :
US$ 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, Credit 30-60 days
Sales Term
Local :
Prepayment, Credit 30-60 days
International :
Prepayment, Telegraphic transfer, Credit 30-60 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.53.85 |
|
|
1 |
Rs.85.25 |
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Euro |
1 |
Rs.71.72 |
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 |
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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 |
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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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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.