MIRA INFORM REPORT
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Report Date : |
04.07.2013 |
IDENTIFICATION DETAILS
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Name : |
AUTEX PTY. LTD. |
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Formerly Known As : |
A.C.N.
054 713 441 PTY LTD |
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Registered Office : |
Level 17, |
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Country : |
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Date of Incorporation : |
06.01.1992 |
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Com. Reg. No.: |
054713441 |
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Legal Form : |
Australian Proprietary
Company |
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Line of Business : |
Manufacturing and distribution of wall coverings,
polyester insulation |
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No. of Employees : |
150 employees (Subject) |
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 – March 31st 2013
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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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 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 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.
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Source : CIA |
Identification details
Verified Address
Subject name : AUTEX PTY. LTD.
Business address : 166 Bamfield Road
Town : Heidelberg West
Province : Victoria
Zip/postal code : 3081
Country : Australia
Tel : +61 3 94576700
Fax : +61 3 94571020
Email : enquiries@autex.com.au
Website : www.autex.com.au
Registered address : Level 17, 181 William Street
Town : Melbourne
Province : Victoria
Zip/postal code : 3000
Country : Australia
Postal address : P.O. Box 5099
Town : Heidelberg West
Province : Victoria
Zip/postal code : 3081
Country : Australia
Summary details
Executive Summary
Date founded or registered : 06/01/1992
Legal form : Australian
Proprietary Company
Chief executive : Warrick Bruce Batt
Issued & paid up capital
: AUD 100
Sales turnover : AUD 30,000,000 (Estimated
Non-Consolidated 12 months, 31/03/2013)
Line of business : Manufacturing and
distribution of wall coverings, polyester insulation etc.
Staff employed : 150 employees (Subject)
Credit risk opinion
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
Organisation structure : Organisational structure is stable
Detrimental : No detrimental records found
Payment history : No payment dlays noted
Statutory details
Registry Data
Registration date : 06/01/1992
Legal form : Australian
Proprietary Company
Registration no Australian Company
Number: 054713441
Registered authority : Australian Securities and
Investments Commissions
Fiscal/ Tax no : Australian Business
Number: 84495094585
Registry status : Live/Active
Previous name : A.C.N. 054 713 441 PTY LTD
(initial)
Change of legal form : None reported.
Management / directors
Key Management
Name : Warrick Bruce Batt
Designation : Managing Director
Name : Eddie Yiu
Designation : Accountant
Board of directors / other
appointments
Appointments
Name : William Randolph
Cunningham
Designation : Director
Appointment date : 17/03/92
Address : 326 Beach Road
Campbells
Bay, North Shore City 0630
New
Zealand
Biography : Born on 01-05-1940 in United
Kingdom.
Name : Warrick Bruce Batt
Designation : Director and Company Secretary
Appointment date : 01/06/06
Address : 55 Taparoo Road
Templestowe, VIC 3106
Australia
Biography : Born on 28-12-1965 in
Auckland, New Zealand.
Name : Andrew MacLeod
Cunningham
Designation : Director
Appointment date : 01/06/06
Address : 371 Beach Road
Campbells
Bay, North Shore City 0630
New
Zealand
Biography : Born on 22-05-1970 in
Auckland, New Zealand.
Name : David Robinson
Designation : Director
Appointment date : 17/03/92
Address : 290 Jervois Road
Herne Bay,
Auckland 1011
New
Zealand
Biography : Born on 26-03-1937 in
Skipton, United Kingdom.
Name : Mark Robinson
Designation : Director
Appointment date : 27/01/00
Address : 10 Birchwood Grove
Greenhithe,
North Shore City 0632
New
Zealand
Biography : Born on 14-11-1964 in United
Kingdom.
Staff employed : 150 employees (Subject)
Share capital
Composition
Authorized Capital : AUD 100
No of shares : 100 Ordinary Shares
Share par value : AUD 1
Issued capital : AUD 100
Paid up capital : AUD
100
ownership / shareholders
How listed : Full List
Composition
Shareholder name : AUTEX INDUSTRIES LIMITED
Address : 702-718 Rosebank Road
Avondale
1026, Auckland
New
Zealand
No. of shares : 100 Ordinary Shares
% of shares : 100%
Related companies & corporate Affiliations
Structure
Name : AUTEX INTERNATIONAL
LIMITED
Affiliation type : Ultimate Holding Company
Address : 702-718 Rosebank Road
Avondale
1026, Auckland
New
Zealand
Name : AUTEX INDUSTRIES
LIMITED
Affiliation type : Parent Company
Address : 702-718 Rosebank Road
Avondale
1026, Auckland
New
Zealand
Comments : Manufacturer of carpet, wall
coverings, insulation and bedware,polypropylene
needle-punched
carpets, floor mats, carpet tiles, non-slip flooring, automotive and
outdoor
carpets.
Name : AUTEX PROPERTIES
LIMITED
Affiliation type : Sister Company
Address : 702-718 Rosebank Road
Avondale,
Auckland 1026
New
Zealand
Name : AUTEX QUEENSLAND PTY
LTD
Affiliation type : Sister Company
Address : 29 Demand Avenue
Arundel,
QLD 4214
Australia
Name : AUTEX INDUSTRIES LTD
(BRANCH)
Affiliation type : Sister Company
Address : Office No. 5Ebg28
Dubai
Airport Free Zone
P.O. Box
54948
Dubai
United
Arab Emirates
Bank & mortgages
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.
financial data
Description
Source of financial statement
: Provided by the Subject
Financial statement date : 31/03/13
Type of accounts : Estimated key figures
Currency : Australia Dollar
(AUD)
Exchange rate : 1 USD = AUD 1.10 as of
03-07-2013
Summarized
Financial Information
Consolidation type : Non Consolidated Non Consolidated Non Consolidated
Currency : Australia Dollar
(AUD) Australia Dollar (AUD) Australia Dollar (AUD)
Denomination : (x1) One (x1) One (x1) One
Date of financial year end : 31/03/13 31/03/12 31/03/11
Length of accounts : 12 months 12 months 12 months
Sale turnover / Income : 30,000,000 27,500,000
37,000,000
Comments : The estimated turnover
was provided by Mr. Eddie Yiu.
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.
Operation details
Main activities : The Subject is engaged in
manufacturing and distribution of wall coverings,
polyester
insulation etc.
The
Subject also imports and distributes carpet, wall coverings, insulation
and
bedware, floor mats, carpet tiles, non-slip flooring, automotive and
outdoor
carpets sourced from the Subject's Parent Company in New
Zealand.
The
Subject is part of Autex Group. The Autex Group includes ultimate
holding
company Autex International Limited, New Zealand-based
manufacturing
Autex Industries Limited, Australian-based manufacturing
Autex Pty
Limited (Subject), and other interests Autex Properties Limited
and Autex
Investments Limited.
Product & services :
· Autex Bedware - wool and polyester bedding products
Autex
Carpets - commercial carpets
Autex
Insulation - thermal and acoustic polyester insulation for commercial and
residential
Autex
Wall Coverings - polypropylene plush and acoustic wall covering
BaffleBlock
- acoustic polyester Composition - acoustic wall coverings Decord - marine,
commercial and outdoor ribbed carpet
Dream
Maker - polyester bedding products
GreenStuf
- thermal and acoustic polyester Performer - marine and automotive carpets and
linings
Quietstuf
- acoustic polyester
Vertiface
- plush wall coverings
Brand :
AUTEX
Purchases
International : China, Taiwan, Indonesia
Sales
Local : Yes
International : New Zealand
Property &
Assets
Premises : The Subject operates from premises at the
verified heading address
consisting
of a production facility, warehouse and administrative office.
Branches : In addition, the Subject operates from
branch offices and production
facilities located at:
16
Bushells Place
Wetherill
Park, NSW 2164
Australia
Tel: +61 2 97563122
195 Bank Street
East Victoria Park
Perth, WA 6101
Australia
Tel: +61 8 93551911
Intellectual property
: ISO9001 certified
ISO14001 certified
Summarized country risk
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%
Payment history
Purchase Term
International : L/C, Telegraphic transfer,
Credit 30-90 days
Sales Term
Local : Bank transfer, Credit
30-90 days
International : Telegraphic transfer, 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.10 |
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UK Pound |
1 |
Rs.91.07 |
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Euro |
1 |
Rs.77.95 |
INFORMATION DETAILS
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Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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.