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Report Date : |
23.07.2013 |
IDENTIFICATION DETAILS
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Name : |
MAXIPARTS PTY LTD |
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Registered Office : |
346 Boundary Road Derrimut Victoria 3030 |
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Country : |
Australia |
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Financials (as on) : |
31.12.2012 (Group Consolidated ) |
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Date of Incorporation : |
02.09.2004 |
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Com. Reg. No.: |
110786215 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Import and distribution of truck and trailer components, parts and accessories. |
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No. of Employees : |
250 |
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
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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, 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 : MAXIPARTS PTY LTD
Business address :
137 Swann Drive
Town : Derrimut
Province : Victoria
Zip/postal code : 3030
Country : Australia
Tel : +61 3 93687000
Fax : +61 3 83682164
Website : www.maxiparts.com.au
Registered address
: 346 Boundary Road
Town : Derrimut
Province : Victoria
Zip/postal code : 3030
Country : Australia
Executive Summary
Date founded or
registered : 02/09/2004
Legal form : Australian
Proprietary Company
Chief executive : Peter Loimaranta
Issued & paid
up capital : AUD 13,500,000
Sales turnover : AUD 276,767,000
(Group-Consolidated 12 months, 30/06/2012)
Net income : AUD 12,522,000
(Group-Consolidated 12 months, 30/06/2012)
Total fixed assets
: AUD 184,237,000
(Group-Consolidated 12 months, 30/06/2012)
Line of business :
Import and distribution
of truck and trailer components, parts and accessories.
Staff employed : 250 employees (Subject);
786 employees (Maxitrans Group)
Company Analysis
Country risk : Country risk is minimal
Operation trend : Operational trend is progressing
Management
experience : Management is reasonably experienced
Financial
performance : Financial performance is good
Organization
structure : Organizational structure is consistent
Detrimental : No
detrimental found
Payment history : No payment delays noted
Registry Data
Registration date
: 02/09/2004
Legal form : Australian Proprietary Company
Registration no Australian Company Number:
110786215
Registered
authority : Australian Securities and
Investments Commission
Fiscal/ Tax no : Australian Business Number:
76110786215
Registry status : Live/Active
Previous name : COLRAIN PTY LTD (until 16/05/2013)
Change of legal
form : None reported.
Key Management
Name : Peter Loimaranta
Designation : General Manager
Appointments
Name : Michael Alan Brockhoff
Designation : Director
Appointment date :
02/09/04
Address : `16 Newbay Crescent
Brighton, VIC 3186
Australia
Biography : Born on 24-05-1953 in Melbourne,
Victoria, Australia.
Mr. Michael Alan Brockhoff is Chief Executive Officer, Managing
Director and Executive Director of Maxitrans Industries Ltd. He has
thirty-four years experience in the road transport industry. He is
Member of the Nomination Committee of the Company.
Name : Campbell Ross Richards
Designation : Director
Appointment date :
24/06/13
Address : 8 Renwick Street
Glen Iris, VIC 3146
Australia
Biography : Born on 12-12-1966 in Melbourne,
Victoria, Australia.
Name : Aaron Mark Harvey
Designation : Company Secretary
Appointment date :
05/02/10
Address : 81 Castleton Road
Viewbank, VIC 3084
Australia
Biography : Born on 08-06-1977 in Ivanhoe, Victoria,
Australia.
Staff employed : 250
employees (Subject); 786 employees (Maxitrans Group)
Key Advisors
Auditors : KPMG
147 Collins Street
Melbourne, VIC 3000
Australia
Composition
Authorized Capital
: AUD 13,500,000
No of shares : 13,500,000 Ordinary Shares
Share par value : AUD 1
Issued capital : AUD 13,500,000
Paid up capital : AUD 13,500,000
How listed : Full List
Composition
Shareholder name :
MAXITRANS INDUSTRIES LIMITED
Address : 346 Boundary Road
Derrimut, VIC 3030
Australia
No. of shares : 13,500,000 Ordinary Shares
% of shares : 100%
Structure
Name : MAXITRANS INDUSTRIES LIMITED
Affiliation type :
Parent Company
Address : 346 Boundary Road
Derrimut, VIC 3030
Australia
Comments : MaxiTRANS Industries Limited, together with
its subsidiaries, engages in the
design, manufacture, sale, service, and repair of transport equipment,
and related
components and spare parts in Australia. It manufactures various trailer
brands,
and urethane foam and body panels; supplies and distributes parts;
provides
service and repair support; and sells and finances new and used trailing
equipment. The company’s products include curtain sided trailers, flat
top semis,
and skeletal trailers; dry freight and temperature controlled vans;
steel and
aluminum semi tippers, B-doubles, side opening tippers, walking floors,
and flat
top trailers; rigid truck bodies; brakes, axles, suspensions, and other
parts and
components; and fiberglass panels, body kits, doors, and insulation foam
products. It is also involved in the retail of truck and trailer parts.
The company
sells its products under the Freighter, Maxi-CUBE, Hamelex White, Lusty
EMS,
Azmeb, Peki, Colrain, QDS, Maxus, and PanelMasta brand names. It serves
transport and logistics, fresh produce, food and beverage, building and
construction, agriculture, and natural resources industries. The company
was
founded in 1946 and is headquartered in Derrimut, Australia.
Name : COLRAIN (ALBURY) PTY LTD
Affiliation type :
Wholly-owned Subsidiary
Address : 439 Wagga Road
Lavington, NSW 2641
Australia
Name : COLRAIN QUEENSLAND PTY LTD
Affiliation type :
Wholly-owned Subsidiary
Address : Unit 3/1927 Ipswich Road
Rocklea, QLD 4106
Australia
Name : MAXITRANS AUSTRALIA PTY LTD
Affiliation type :
Sister Company
Address : 346 Boundary Road
Derrimut, VIC 3030
Australia
Name : MAXITRANS INDUSTRIES (N.Z.) PTY LTD
Affiliation type :
Sister Company
Address : 61 Spartan Road
Takanini, Auckland 2105
New Zealand
Comments : Overseas ASIC Company.
Related companies
and corporate affiliations comments
: Other companies
of the Maxitrans Group should be considered affiliates of the Subject.
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 : None reported.
Legal Fillings
Bankruptcy
fillings : None reported.
Court judgements :
None reported.
Tax liens : None reported.
Others : None reported.
Description
Source of
financial statement : Public Record
Sources
Financial
statement date : 30/06/12
Type of accounts :
Full audited
Currency : Australia Dollar
(AUD)
Exchange rate : 1 USD = AUD 1.09 as of
22-07-2013
Summarized Financial Information
Consolidation type
: Group Consolidated Group Consolidated Group Consolidated
Currency : Australia Dollar
(AUD) Australia Dollar (AUD) Australia Dollar (AUD)
Denomination : (x1)
One (x1) One (x1) One
Date of financial
year end : 30/12/12 30/06/12 30/06/11
Length of accounts
: 6 months 12 months 12 months
Sale turnover /
Income : 189,867,000 276,767,000 202,476,000
Profit before tax
: 17,993,000 16,795,000 4,341,000
Net income : 12,902,000 12,522,000 4,171,000
Non current assets
: 99,483,000 97,906,000 78,800,000
Current assets : 92,442,000 86,331,000 67,899,000
Inventories : 51,220,000 46,726,000 34,428,000
Total assets : 191,925,000 184,237,000 146,699,000
Current
liabilities : 50,161,000
53,638,000 35,272,000
Non current
liabilities : 33,189,000 31,904,000 19,705,000
Total liabilities
: 83,350,000 85,542,000 54,977,000
Share equity : 108,575,000 98,695,000 91,722,000
Reserve : 7,689,000 7,071,000 8,316,000
Retained earning : 42,817,000 34,137,000 27,020,000
Comments : The group’s consolidated financial
information above relates to the Subject’s
Parent / Ultimate Holding Company Maxitrans Industries Limited and all
its
subsidiaries which include the Subject.
Main activities : The Subject engages in import and
distribution of truck and trailer
components, parts and accessories.
The Subject is a wholly owned subsidiary of Maxitrans Industries
Limited, a
public listed company on the Australia Stock Exchange.
MaxiTRANS Industries Limited is a manufacturer and supplier of road
transport trailing equipment and solutions. The principal activities of
the
Company consist of the design, manufacture, sale, service and repair of
transport equipment and related components and spare parts. It has three
segments: Sales of New Trailer and Tipper Units, Sales of Parts and
Service and Others. The Company includes manufacture of trailer brands,
supply and distribution of parts, provision of service and repair
support,
manufacture of urethane foam and body panels and the sales and finance
of new and used trailing equipment. Its products serve many industries
including transport and logistics, fresh produce, food and beverage,
building and construction, agriculture and natural resources. On March
24,
2012, it acquired Queensland Diesel Spares Pty Ltd. In May 2012, the
Company acquired AZMEB Global Trailers. Effective May 31, 2011,
Perpetual Limited ceased to be shareholders of the Company.
Product &
services : Truck and trailer spare
parts
Greasing equipment
Air products
Suspension
Tyres
Oils
LED lights
Tools
Tool kits
Air products
Towing gates and tanks
Flip Sign
Motor vehicle accessories
Brand : MAXIPARTS
MAXUS
FLEETGUARD
HENDRICKSON
NARVA
ROAD ONE
FULLCHAMP
TRIANGLE TYRES
ALEMLUBE
SP TOOLS
V. ORLANDI
MERITOR
CASTROL
Purchases
International : Asia, Europe, United States
Sales
Local : Yes
International : New Zealand, Papua New Guinea,
Malaysia, Fiji, Indonesia
Key events : 15 May 2013
Colrain & QDS Parts Outlets Rebrand as MaxiPARTS
Leading transport equipment manufacturer, MaxiTRANS, has announced a
rebrand for its three retail & wholesale parts chains, Colrain,
Queensland
Diesel Spares (QDS) and Gladstone Air Cleaner Services. At a Brisbane
Truck Show press conference, General Manager Peter Loimaranta
unveiled the new name “MaxiPARTS”, along with its bold logo and
branding, declaring that the new parts brand would usher in a new era of
truck & trailer parts supply to the Australian market.
MaxiTRANS acquired QDS in April 2012 when looking to expand the reach
of its existing parts chain, Colrain, further into the Queensland market
and
provide greater support to customers in that area. According to Mr.
Loimaranta, the rebranding of the three businesses will mean that
operators will now be able to identify the expanded core product range
across a single trading name. “From Adelaide to Melbourne to Gladstone,
we will now have 17 retail stores servicing the south & east coasts
of
Australia, meaning customers have only one name to remember from now
on when they are in need of truck & trailer parts – MaxiPARTS”
“Those retail stores will of course be backed up by our 4 wholesale
outlets
in Melbourne, Sydney, Brisbane & Perth.”
MaxiPARTS National Retail Sales Manager, Justin O’Brien, added that the
new combined brand will provide customers with advantages with regards
to range and price. “Traditionally, Colrain has stocked predominantly
hard
parts while QDS has focussed on products with more retail appeal, “he
said. “The new partnership means that from tyres and suspensions to tool
kits and portable fridges, all of our stores have everything covered.”
“But the greatest advantage from the added stores is what we’ve been
able to achieve with our prices,” continued Justin. “More stores means
greater buying power, which in turn means lower prices for our
customers.
We’ve been able to work with our suppliers to negotiate some great
deals,
many of which are on display here in Brisbane.”
Mr. Loimaranta pointed to the MaxiPARTS stand at the truck show as a
guide to how the new combined brand would soon appear to customers.
“We will be beginning our rebranding effective immediately,” he said,
while
displaying the new logo. “Over the next few weeks, customers will begin
to
see changes in the store with repect to branding, colouring and store
layout. We’re excited about entering the next phase of our history in
the
supply of quality truck and trailer parts to the Australian market.
Source: www.maxiparts.com.au
Property & Assets
Premises : The Subject operates from head office at
the verified heading address
consisting of an administrative office and warehouse.
Branches : In addition, the Subject operates from
16 retail stores and 3 distribution
centers located in Australia.
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%
Purchase Term
International :
L/C, Telegraphic transfer, D/P, Credit 30-120 days
Sales Term
Local :
Prepayment, Cash, Bank transfer, D/P, Credit 30-120 days
International :
L/C, Telegraphic transfer, D/P, Credit 30-120 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 |
|
|
1 |
Rs.90.74 |
|
Euro |
1 |
Rs.78.11 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.