|
Report Date : |
12.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
CHEMCOLOUR INDUSTRIES AUSTRALIA PTY LIMITED |
|
|
|
|
Registered Office : |
19-25
Anne Street, St Marys, New South Wales 2760 |
|
|
|
|
Country : |
Australia |
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|
|
|
Financials (as on) : |
31.03.2012 |
|
|
|
|
Date of Incorporation : |
25.05.2007 |
|
|
|
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Com. Reg. No.: |
125602271 |
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|
|
|
Legal Form : |
Australian Proprietary Company |
|
|
|
|
Line of Business : |
Subject engaged in manufacturer and distributor of
specialty chemicals. |
|
|
|
|
No. of Employees : |
36 employees |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
|
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
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Australia |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 : CHEMCOLOUR
INDUSTRIES AUSTRALIA PTY LIMITED
Business
address : Monash Business Park
20-22 Gardiner Road
Town : Notting Hill
Province
: Victoria
Zip/postal
code : 3168
Country
: Australia
Tel : +61 3 95380300
Fax : +61 3 95380333
Email :
enquiry@chemcolour.com.au
Website
:
www.chemcolour.com
Registered
address : 19-25 Anne Street
Town : St Marys
Province
: New South Wales
Zip/postal
code : 2760
Country
: Australia
Postal
address : P.O. Box 341
Town : Mt Waverly
Province
: Victoria
Zip/postal
code : 3149
Country
: Australia
Executive Summary
Date
founded or registered :
25/05/2007
Legal
form :
Australian Proprietary Company
Chief
executive :
Mahanama Wijayasiri
Issued
& paid up capital : AUD
2,500,000
Sales
turnover : AUD 30,379,796
(Non-Consolidated 12 months, 31/03/2012)
Net
income :
AUD -1,694,488 (Non-Consolidated 12 months, 31/03/2012)
Total
fixed assets : AUD
15,640,818 (Non-Consolidated 12 months, 31/03/2012)
Line
of business :
Manufacturer and distributor of specialty chemicals.
Staff
employed : 36
employees
Country
risk :
Country risk is minimal
Operation
trend : Operational trend is
declining
Management
experience : Management is
modestly experienced
Financial
performance : Financial
performance is deteriorating
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 : 25/05/2007
Legal
form :
Australian Proprietary Company
Registration
no Australian Company number: 125602271
Registered
authority : Australian
Securities & Investments Commission
Fiscal/
Tax no : Australian
Business Number: 70125602271
Registry
status :
Live/Active
Previous
name : ARTURUS
SOLUTIONS PTY LIMITED (initial)
Change
of legal form : None
reported.
Key Management
Name : Mahanama Wijayasiri
Designation
: Managing Director
Appointments
Name : Murray John
Nancekivell
Designation
: Director
Appointment
date : 25/05/07
Address
: 57 Victoria
Avenue
Remuera, Auckland
1050
New Zealand
Biography
: Born on 06/04/1949
in New Zealand.
Name : Paul Gardner
Designation
: Director
Appointment
date : 20/07/07
Address
: 3 Venus Place
Half Moon Bay,
Auckland 2012
New Zealand
Biography
: Born on 01/07/1955
in Auckland, New Zealand.
Name : Mahanama Wijayasiri
Designation
: Director
Appointment
date : 12/03/13
Address
: 9 Adolphson
Avenue
Ringwood North, VIC
3134
Australia
Biography
: Born on 22/01/1951
in Sri Lanka.
Staff
employed : 36 employees
Key Advisors
Auditors
: KPMG
Level 10, 10 Shelley
Street
Sydney, NSW 2000
Australia
Composition
Authorized
Capital : AUD 2,500,000
No of
shares : 2,500,000
Ordinary Shares
Share
par value : AUD 1
Issued
capital : AUD 2,500,000
Paid
up capital : AUD 2,500,000
How
listed : Full List
Composition
Shareholder
name : CHEMCOLOUR INDUSTRIES
(NZ) LIMITED
Address
: 24 Poland Road
Wairau Valley
North Shore 0627
New Zealand
No. of
shares : 2,500,000
Ordinary Shares
% of
shares : 100%
Structure
Name : CHEMCOLOUR
INDUSTRIES (NZ) LIMITED
Affiliation
type : Parent Company
Address
: 24 Poland Road
Wairau Valley
North Shore 0627
New Zealand
Bank Details
Name
of bank : HSBC Bank
Australia
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 :
31/03/12
Type
of accounts :
Full audited
Currency
:
Australia Dollar (AUD)
Exchange
rate :
1 USD = AUD 1.09 as of 09-07-2013
Summarized Financial Information
Consolidation
type : Non Consolidated Non
Consolidated
Currency
: Australia Dollar
(AUD) Australia Dollar (AUD)
Denomination
: (x1) One (x1) One
Date of
financial year end : 31/03/12 31/03/11
Length
of accounts : 12 months 12 months
Sale
turnover / Income : 30,379,796 36,571,019
Gross
profit : 6,729,231 7,482,377
Operating
profit : -2,111,887 266,845
Profit
before tax : -2,489,971 -311,729
Net
income : -1,694,488 -112,861
Non
current assets : 4,247,201 4,880,770
Current
assets : 11,393,617 14,244,246
Inventories
: 5,477,851 5,882,716
Total
assets : 15,640,818 19,125,016
Current
liabilities : 11,292,563 12,805,863
Non
current liabilities : 137,334 413,744
Total
liabilities : 11,429,897 13,219,607
Share
equity : 4,210,921 5,905,409
Retained
earning : 1,710,921 3,405,409
Main activities
The
Subject is engaged as manufacturer and distributor of specialty chemicals.
Product & services
Surfactants,
biocides, waxes, Emulsifiers for road construction,
Plasticisers,
TEA, DEA, Hydrocarbon and Gum Resins
Floculents,
Glycerol MonoOleate, Sorbitan MonoOleate
Cable
filling compounds, Chlorowax, Impact modifers, Latex foaming
agents,
Plasticisers, Polyols, Stabilisers
Antisapstains,
Biocides, Formulated herbicides, fungicides and
insecticides,
Preservatives, Surfactants
Chem-metal
paint driers , Esters, Plasticisers, Surfactants, Chlorowax
Specialty
syntan and auxiliary chemicals
Defoamers,
Wax Emulsions, Chelating resins
Stearic
Acids, Surfactants, Fatty Acids, Ethoxylates, TEA, DEA
Ethoxylated
Products, Fatty acid esters, Metal working lubricants,
Surfactants,
Wax emulsions and other wax products
Textile
backing foaming agents, stabilisers, softeners, acetic acid
Brand
CLARIANT
EKA
ELIOKEM
KAMSONS
SMIT
AND ZOON
FIRESTOP
CMMP
OLEON
PAN
CENTURY
PAN
CENTURY SURFACTANTS
STEPHENSON
ELIOKEM/APAR
BLACKBURN
MICHELMAN
NORTHWEST
ADHESIVE
UPL
COLOR-CHEM
(UK)
FIRESTOP
NOVOZYMES
SANITIZED
AG
EVONIK
NIPA
ENDURA
NOCIL
CIL
Purchases
Local : Yes
International
: Asia, Europe
Sales
Local : Yes
International
: Asia, Europe
Property & Assets
Premises
: The Subject operates from
premises at the verified heading address
consisting of a
administrative office and applications laboratories.
Branches
: In addition, the Subject
operates from a production facility located at:
19-25 Anne Street
St Marys, NSW 2760
Australia
Phone: +61 2
88018100
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)
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%
Purchase Term
International
: L/C, Prepayment,
Telegraphic transfer, D/P, Credit 30-90 days
Sales Term
Local : Prepayment, Bank
transfer, D/P, Credit 30-90 days
International
: L/C, 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.59.64 |
|
UK Pound |
1 |
Rs.90.13 |
|
Euro |
1 |
Rs.77.98 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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.