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Report Date : |
23.07.2013 |
IDENTIFICATION DETAILS
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Name : |
BHP BILLITON MITSUI COAL PTY LTD |
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Formerly Known as: |
BHP MITSUI COAL PTY. LTD. |
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Registered Office : |
'Waterfront Place' Level 20, 1 Eagle Street, Brisbane, Queensland, Zip/postal code 4000 |
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Country : |
Australia |
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Financials (as on) : |
30.06.2012 |
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Date of Incorporation : |
23.02.1962 |
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Com. Reg. No.: |
009713875 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Open cut coal mining and
exploration in Queensland. |
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No. of Employees : |
88 employees (Subject); 46,370
employees (BHP Billiton Group) |
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 : |
Good |
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Payment Behaviour : |
Regular |
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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
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Australia |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
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, 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 : BHP BILLITON MITSUI COAL PTY LTD
Business address : Level 25, 12 Creek Street
Town : Brisbane
Province : Queensland
Zip/postal code : 4000
Country : Australia
Tel : +61 7 38352000
Fax : +61 7 33298932
Website : www.bhpbilliton.com
Registered address : 'Waterfront Place' Level 20
1 Eagle Street
Town : Brisbane
Province : Queensland
Zip/postal code : 4000
Country : Australia
Executive Summary
Date founded or registered : 23/02/1962
Legal form : Australian
Proprietary Company
Chief executive : Michael David Rosengren
Issued & paid up capital
: AUD 168,372,130
Sales turnover : USD
1,389,094,000 (Non-Consolidated 12 months, 30/06/2012)
Net income : USD 292,885,000
(Non-Consolidated 12 months, 30/06/2012)
Total fixed assets : USD 1,361,455,000
(Non-Consolidated 12 months, 30/06/2012)
Line of business : Open cut coal mining and
exploration in Queensland.
Staff employed : 88 employees (Subject);
46,370 employees (BHP Billiton Group)
Company Analysis
Country risk : Country risk is
minimal
Operation trend : Operational trend is
progressing
Management experience : Management is adequately experienced
Financial performance : Financial performance is very good
Organization structure : Organizational structure is stable
Detrimental : No detrimental found
Payment history : No payment delays noted
Comments : Larger credit can
still be considered. The Subject is well positioned in the market
and the financial stability of the group is positive.
Registry Data
Registration date : 23/02/1962
Legal form : Australian
Proprietary Company
Registration no Australian Company
Number: 009713875
Registered authority : Australian Securities and
Investments Commission
Fiscal/ Tax no : Australian Business
Number: 34009713875
Registry status : Live/Active
Previous name : BHP
MITSUI COAL PTY. LTD.
THIESS
DAMPIER MITSUI COAL PTY. LTD.
THIESS
PEABODY MITSUI COAL PTY. LTD.
PEABODY
COAL PTY. LTD. (initial)
Change of legal form : None reported
.
Key Management
Name : Michael David Rosengren
Designation : Vice President, Coal Production
Name : Gideon Johannes
Oberholzer
Designation : Chief Financial Officer
Appointments
Name : Gideon Johannes
Oberholzer
Designation : Director
Appointment date : 16/12/08
Address : 28 Addison Avenue
Bulimba,
QLD 4171
Australia
Biography : Born on 22-12-1967 in
Empangeni, South Africa.
Name : Michael David Rosengren
Designation : Director
Appointment date : 01/05/11
Address : 11
Jennings Court
Carindale,
QLD 4152
Australia
Biography : Born on 05/10/1962 in
Melbourne, Victoria, Australia.
Name : Hiroshi Toyoda
Designation : Director
Appointment date : 14/01/13
Address : Japan
Biography : Born on 07-11-1970 in Osaka,
Japan.
Name : Diano Sebastiano 'Dean'
Dalla Valle
Designation : Director
Appointment date : 01/07/13
Address : 74 South Terrace
Adelaide,
SA 5000
Australia
Biography : Born on 25/01/1959 in
Wollongong, New South Wales, Australia.
Name : Jacqueline Elizabeth
McGill
Designation : Director
Appointment date : 01/07/13
Address : 43 Mercy Drive
North
Mackay, QLD 4740
Australia
Biography : Born on 13/02/1968 in
Brisbane, Queensland, Australia.
Name : David Lyle Ruddell
Designation : Alternate Director
Appointment date : 04/08/11
Address : 19 Warner Court
Fig Tree
Pocket, QLD 4069
Australia
Biography : Born on 31/03/1969 in
Melbourne, Victoria, Australia.
Name : Shane Allan Hansen
Designation : Alternate Director
Appointment date : 01/07/13
Address : 12 Vine Street
Ascot, QLD
4007
Australia
Biography : Born 08/12/1962 in
Rockhampton, Queensland, Australia.
Name : Jill Margaret Buckle
Designation : Company Secretary
Appointment date : 16/08/96
Address : 30 Tinarra Crescent
Kenmore
Hills, QLD 4069
Australia
Biography : Born on 05/03/1959 in
Lismore, New South Wales, Australia.
Name : Toni Angela Wiltshire
Designation : Company Secretary
Appointment date : 22/03/13
Address : 2 Edna Street
Salisbury,
QLD 4107
Australia
Biography : Born on 15/06/1967 in
Brisbane, Queensland, Australia.
Staff employed : 88 employees (Subject); 46,370
employees (BHP Billiton Group)
Key Advisors
Auditors : KPMG
'Riparian
Plaza' Level 16
71 Eagle
Street
Brisbane,
QLD 4000
Australia
Composition
Authorized Capital : AUD 168,372,130
No of shares : 48,140,000 Class A Shares /
18,260,000 Class B Shares / 11,361,697 Class C
Shares / 6,424,368 Cumulative Redeemable Preference Shares
Share par value : No par value
Issued capital : AUD 168,372,130
Paid up capital : AUD 168,372,130
How listed : Full List
Composition
Shareholder name : DAMPIER COAL (QUEENSLAND) PROPRIETARY
LIMITED
Address : 'Waterfront Place', Level
20
1 Eagle
Street
Brisbane,
QLD 4000
Australia
No. of shares : 48,140,000 Class A Shares /
18,260,000 Class B Shares / 948,852 Cumulative
Redeemable Preference Shares
Shareholder name : MITSUI & CO. (AUSTRALIA) LTD.
Address : 'Gateway Building', Level 46
1
Macquarie Place
Sydney NSW
2000
Australia
No. of shares : 136,888 Class C Shares / 5,475,516
Cumulative Redeemable Preference Shares
Shareholder name : MITSUI & CO., LTD.
Address : 2-1 Ohtemachi 1-chome
Chiyoda-ku,
Tokyo 100-0004
Japan
No. of shares : 11,224,809 Class C Shares
Structure
Name : BHP BILLITON LIMITED / BHP BILLITON
PLC
Affiliation type : Ultimate
Holding Company
Address : BHP BILLITON LIMITED
BHP
Billiton Centre
180
Lonsdale Street
Melbourne,
VIC 3000
Australia
BHP
BILLITON PLC
Neathouse
Place
London
SW1V 1BH
United
Kingdom
Comments : BHP Billiton Limited / BHP Billiton PLC
together with its subsidiaries, operates as
a
diversified natural resources company worldwide. The company engages in the
exploration,
development, and production of oil and gas; mining and refining of
bauxite
into alumina, and smelting of alumina into aluminum metal; and mining of
copper, silver,
lead, zinc, molybdenum, uranium, gold, diamonds, and titanium
minerals,
as well as development of potash deposits. It also involves in the mining
and
production of nickel products, manganese ore, and manganese metal and
alloys, as
well as in the mining of iron ore, metallurgical coal, and thermal coal.
BHP
Billiton Limited sells its copper, lead, and zinc concentrates, and alumina to
smelters;
copper cathodes to wire rod mills, brass mills, and casting plants;
uranium
oxide to electricity generating utilities; rough diamonds to diamond
buyers and
diamond manufacturers; nickel products to stainless steel, specialty
alloy,
foundry, chemicals, and refractory material industries; metallurgical coal to
steel
producers; and energy coal to power stations, power generators, and
industrial
users. The company, formerly known as BHP Ltd. and changed its
name to
BHP Billiton Ltd. in July, 2001. It was founded in 1885 and is
headquartered
in Melbourne, Australia.
The
company has a dual listing in Australian Stock Exchange and London Stock
Exchange.
Name : DAMPIER COAL (QUEENSLAND) PROPRIETARY LIMITED
Affiliation type : Parent
Company
Address : 'Waterfront Place', Level 20
1 Eagle
Street
Brisbane,
QLD 4000
Australia
Name : MITSUI & CO., LTD.
Affiliation type : Minority
Shareholder
Address : 2-1 Ohtemachi 1-chome
Chiyoda-ku,
Tokyo 100-0004
Japan
Comments : Mitsui & Co., Ltd., together with its
subsidiaries, operates as a general trading
company. It
engages in the wholesale, retail, and processing of steel products;
domestic
sales, export, and import of steel products for construction and other
steel
products; mining and sale of iron ore; sales and trading of scrap, ferroalloys,
and
non-ferrous material products; copper mining in Chile; scrap metal recycling;
and nickel
and cobalt smelting. The company also engages in sales of various
plants,
electric power facilities, and transportations; manufacturing plant-related
materials
and equipment; designing, building, and operation of water treatment
plants;
operation of LNG terminals and gas distribution; operation and
maintenance
of power plants; freight car and locomotive leasing and
management;
import and sale of automobiles and auto parts; sale of trucks and
buses;
motorcycle retail finance; sales of construction and mining equipment; and
import and
sales of helicopters, and defense and aerospace products, as well as
provision
of auto parts logistics, membership car sharing, shipping, and
deepwater
drilling services. In addition, it is involved in the operation and leasing
of
chemical tankers; production and sale of methanol, salt, industrial chemicals,
anhydrous
ammonia, fertilizers, and agricultural products; export of electronic
devices;
sale of plastics and chemicals; sales and trading of solvents and coating
materials;
crop protection business; phosphorous ore mining; exploration,
development,
and production of oil, natural gas, and condensate; coal and
uranium
mining; sale of petroleum products and crude oil. Further, the company
engages in
food and retail, real estate, water supply, consumer services,
information
technology, logistics, insurance, and financial businesses. It has
operations
primarily in the Americas, Europe, the Middle East, Africa, and the
Asia-Pacific.
The company was founded in 1947 and is headquartered in Tokyo,
Japan
Name : MITSUI & CO. (AUSTRALIA) LTD.
Affiliation type : Minority
Shareholder
Address : 'Gateway Building', Level 46
1
Macquarie Place
Sydney NSW
2000
Australia
Comments : Mitsui & Co. (Australia) Ltd. engages
in the development and export of minerals,
energy,
and agricultural products in Australia. The company also promotes
telecommunications
and forestry. It primarily exports minerals and energy to
Japan.
Mitsui’s exports include coal, gas, iron ore, meat, aluminum, woodchips,
copper,
and oil. The company is headquartered in Sydney, Australia. Mitsui & Co.
(Australia)
Ltd. is wholly owned by Mitsui & Co., Ltd., of Japan, as of May 31,
2004.
Name : BHP BILLITON PETROLEUM (AUSTRALIA)
PTY LTD
Affiliation type : Sister
Company
Address : BHP Billiton Centre
180
Lonsdale Street
Melbourne,
VIC 3000
Australia
Comments : Hydrocarbons production.
Related companies and corporate affiliations comments
Other companies of the BHP
Billiton Group should be considered affiliates of the Subject.
Bank Details
Name of bank : National Australia Bank 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 :
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 : US Dollar (USD)
Consolidation type : Non Consolidated Non Consolidated Group Consolidated
Currency : US Dollar (USD) US Dollar (USD) US Dollar (USD)
Denomination : (x1) One (x1) One (x1) One
Date of financial year end : 30/06/12 30/06/11 30/06/12
Length of accounts : 12 months 12 months 12 months
Sale turnover / Income : 1,389,094,000 1,241,270,000
72,226,000,000
Operating profit : 23,752,000,000
Profit before tax : 417,583,000 527,064,000 23,022,000,000
Net income : 292,885,000 400,336,000 15,532,000,000
Non current assets : 791,816,000 348,671,000 108,822,000,000
Current assets : 569,639,000 596,769,000 20,451,000,000
Inventories : 44,169,000 40,665,000 6,233,000,000
Total assets 1,361,455,000 945,440,000 129,273,000,000
Current liabilities : 240,868,000 140,373,000 22,034,000,000
Non current liabilities : 99,225,000 74,771,000 40,154,000,000
Total liabilities : 340,093,000 215,144,000 62,188,000,000
Share equity : 1,021,382,000 730,296,000 67,085,000,000
Retained earning : 928,667,000 635,782,000 62,236,000,000
Comments : The non-consolidated financial
information above relates to the Subject only.
The
group’s consolidated financial information above relates to the Subject’s
Ultimate
Holding Company BHP Billiton Limited / BHP Billiton PLC and all its
subsidiaries
which include the Subject.
Main activities : The Subject engages in
open cut coal mining and exploration in Queensland.
The
Subject operates 2 mines in the Bowen Basin: South Walker Creek
Mine and
Poitrel Mine.
South
Walker Creek Mine is located on the eastern flank of the Bowen
Basin, 35
kilometres west of the town of Nebo and 132 kilometres west of
the Hay
Point port facilities.
Poitrel
Mine is situated south-east of the town of Moranbah and began
open-cut
operations in October 2006.
The
Subject is 80% owned by Bhp Billiton Limited / Bhp Billiton PLC.
Bhp
Billiton Limited / Bhp Billiton PLC is diversified natural resources
company.
The Company generally operates through customer sector
groups
(CSGs). The Company operates in nine segments: Petroleum,
Aluminium,
Base Metals, Diamonds and Specialty Products, Stainless
Steel
Materials, Iron Ore, Manganese, Metallurgical Coal and Energy Coal.
As of June
30, 2012, the Company was working in more than 100 locations
worldwide.
During the fiscal year ended June 30, 2012 (fiscal 2012), the
Company
total petroleum production was 222.3 millions of barrels of oil
equivalent.
During fiscal 2012, its aluminium had a total production in 1.2
million
tones (Mt) of aluminium. In August 2011, the Company acquired
Petrohawk
Energy Corporation. On September 30, 2011, it acquired HWE
Mining
Subsidiaries from Leighton Holdings. On September 7, 2012, the
Company
announced the sale of its 37.8 % non-operated interest in
Richards
Bay Minerals.
Product & services :
Coal
Purchases
International : Worldwide
Sales
Local : Yes
International : Worldwide
Property &
Assets
Premises : The Subject operates from premises at the
verified heading address
consisting
of an administrative office.
Branches : In addition, the Subject operates from 2
mines in the Bowen Basin: South
Walker Creek Mine and Poitrel Mine.
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 : L/C, D/P, Credit up to 120 days
Sales Term
Local : Bank transfer, D/P,
Credit up to 120 days
International : L/C, D/P, Credit up to 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.59.41 |
|
UK Pound |
1 |
Rs.90.74 |
|
Euro |
1 |
Rs.78.11 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.