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Report Date : |
31.07.2013 |
IDENTIFICATION DETAILS
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Name : |
ORICA AUSTRALIA PTY LTD |
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Formerly Known As : |
ORICA SPECIALTY EMULSIFIERS |
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Registered Office : |
Level 3, 1 Nicholson Street, East Melbourne, Victoria 3002 |
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Country : |
Australia |
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Financials (as on) : |
30.09.2012 |
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Date of Incorporation : |
23.06.1925 |
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Com. Reg. No.: |
004117828 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Manufactures and distributes mining products, consumables, and chemical products. |
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No. of Employees : |
15,000 employees (Orica 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 |
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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 : ORICA
AUSTRALIA PTY LTD
Other style / Business name : ORICA
SPECIALTY EMULSIFIERS
Business address : Level
3, 1 Nicholson Street
Town : East
Melbourne
Province : Victoria
Zip/postal code : 3002
Country : Australia
Tel : +61
3 96657111
Fax : +61
3 96657937
Website : www.orica.com
Registered address : Level
3, 1 Nicholson Street
Town : East
Melbourne
Province : Victoria
Zip/postal code : 3002
Country : Australia
Comments :
The provided address Gate 6, Tilburn Road, Deer Park, VIC 3023, Australia
belongs to the
Subject's production facility.
Executive Summary
Date founded or registered : 23/06/1925
Legal form :
Australian Proprietary Company
Chief executive : Ian
Smith
Issued & paid up capital : AUD
180,200,000
Sales turnover : AUD
6,674,100,000 (Group-Consolidated 12 months, 30/09/2012)
Net income : AUD
423,800,000 (Group-Consolidated 12 months, 30/09/2012)
Total fixed assets : AUD
7,623,600,000 (Group-Consolidated 12 months, 30/09/2012)
Line of business :
Manufactures and
distributes mining products, consumables, and chemical products.
Staff employed : 15,000
employees (Orica 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 consistent
Detrimental : No
detrimental found
Payment history : No
payment delays noted
Comments : Larger
credit can be granted if guaranteed by Parent Company.
Registry Data
Registration date : 23/06/1925
Legal form : Australian
Proprietary Company
Registration no Australian Company Number: 004117828
Registered authority : Australian
Securities and Investments Commission
Fiscal/ Tax no :
Australian Business Number:
99004117828
Registry status : Live/Active
Previous name : ICI
AUSTRALIA OPERATIONS PROPRIETARY LIMITED
NOBEL (AUSTRALASIA) PROPRIETARY LIMITED
NOBEL (AUSTRALASIA) LIMITED (initial)
Change of legal form : None
reported.
Other registration
: ORICA
SPECIALTY EMULSIFIERS is a business name owned by the Subject registered on
15/11/2011 under the business registration no: B2422917Y.
Key Management
Name :
Ian Smith
Designation : Chief
Executive Officer
Name : Alison
Moira Andrew
Designation : Executive
Global Head Chemicals
Name : Richard
Hoggard
Designation : Executive
Global Head of Manufacturing
Name : Eileen
Burnett-Kant
Designation : Executive
Global Head Human Resources
Appointments
Name : Gavin
Roger Jackman
Designation : Director
Appointment date : 19/11/12
Address : 28
Warburton Road
Canterbury, VIC 3126
Australia
Biography : Born
on 01-11-1971 in Hobart, Tasmania, Australia.
Mr. Gavin Jackman is Executive Global Head -
Corporate Affairs and Social Responsibility of Orica Ltd. He commenced with
Orica in July2012, bringing with him a wide range of private and public
sectorexperience. Most recently, he worked as Group Executive PublicAffairs for
Santos Limited. Prior to that, Gavin was Director of Government Affairs for BP
Australia and held senior executive roles in the federal government and public
service.
Name : Eileen
Burnett-Kant
Designation : Director
Appointment date : 29/05/13
Address : 67
Graham Street
Albert Park, VIC 3206
Australia
Biography : Born
on 26-04-1968 in Edinburgh, United Kingdom.
Ms. Eileen Burnett-Kant serves as Executive
Global Head Human Resources of Orica Ltd since March 11, 2013. She was
Executive Manager, People & Communication at Jetstar Airways. She has
worked with Wesfarmers, McKinsey and Coles Myer.
Name : Alison
Moira Andrew
Designation : Director
Appointment date : 20/02/13
Address : 11
Norana Avenue
Remuera, Auckland 1050
New Zealand
Biography : Born
on 17-01-1962 in Warkworth, New Zealand.
Name : Richard
Charles Betts
Designation : Director
Appointment date : 17/12/12
Address : 45
Windermere Crescent
Brighton, VIC 3186
Australia
Biography : Born
on 21-08-1967 in Sydney, New South Wales, Australia.
Name : Richard
Hoggard
Designation : Director
Appointment date : 17/12/12
Address : Unit
1802, 505 St Kilda Road
Melbourne, VIC 3004
Australia
Biography : Born
on 21-10-1964 in Huddersfield, United Kingdom.
Mr. Richard Hoggard has been Executive
Global Head of Manufacturing of Orica Ltd since October 1, 2012. He has been
with the Company for 25 years and has held both global manufacturing and
business facing roles. Since 1987 he has worked for ICI UK, ICI Australia,
Incitec and Orica in a variety of manufacturing, engineering and commercial
roles. Most recently he completed a four year assignment in Latin America.
Name : Ronald
James Douglas
Designation : Director
Appointment date : 17/12/12
Address : 144
Sydney Street
New Farm, QLD 4005
Australia
Biography : Born
on 22-05-1957 in Kalgoorlie, Western Australia, Australia.
Mr. Ron Douglas is Executive Global Head
Projects and Technology of Orica Ltd effective February 2013. He brings to
Orica 30 years experience in management of operational performance and capital
development throughout Australia, United Kingdom, the United States, South East
Asia and Africa across the mineral processing and petrochemical industries. In
his most recent role as Executive
General Manager Projects and Development at
Newcrest Mining, Ron was accountable for delivery of all studies and capital
development for the Newcrest organisation.
Name : Annette
Margaret Cook
Designation : Company
Secretary
Appointment date : 17/12/02
Address : 26
Maling Road
Canterbury, VIC 3126
Australia
Biography : Born
on 16-07-1955 in Melbourne, Victoria, Australia.
Ms. Annette M. Cook, CPA, has been Company
Secretary of Orica Limited since February 16, 2005.Pprior to this post, she was
assistant Company Secretary from August 2002. She joined Orica in July 1987 and
has had a variety of roles in Business Services, IT and Finance. She holds a
Diploma of Business in Accounting and a Diploma of Business in Data Processing.
Staff employed : 15,000
employees (Orica Group)
Key Advisors
Auditors : KPMG
Level 4, KPMG House
161 Collins Street
Melbourne, VIC 3000
Australia
Composition
Authorized Capital : AUD
180,200,000
No of shares : 340,000,000
Ordinary Shares
Share par value : No
par value
Issued capital : AUD
180,200,000
Paid up capital : AUD
180,200,000
How listed : Full
List
Composition
Shareholder name : ORICA
LIMITED
Address : Level
3, 1 Nicholson Street
East Melbourne, VIC 3002
Australia
No. of shares : 340,000,000
Ordinary Shares
% of shares : 100%
Structure
Name : ORICA
LIMITED
Affiliation type : Parent
Company
Address : Level
3, 1 Nicholson Street
East Melbourne, VIC 3002
Australia
Comments : Orica Limited manufactures
and distributes mining products, consumables, and chemical products, as well as
provides mining services. The company’s Mining Services segment manufactures
and supplies commercial explosives, initiating systems, and blasting technology
to the mining, quarrying, construction, and exploration industries, as well as
provides mining services. Its Minova segment manufactures and supplies
chemical-based consumables, bolts, equipment, accessories, and services for
ground consolidation, roof support, ventilation, and water control to the
underground mining, tunneling, and civil construction markets. The company’s
DuluxGroup segment manufactures and supplies paints and other surface coatings
to the decorative and technical markets; and a range of home handyman, car
care, and garden care products. Its Chemicals segment engages in the
manufacture, distribution, and trade of a range of industrial and specialty
chemicals for use in various industries, including water treatment, pulp and paper, food and beverage, construction,
and mining industries, as well as
industrial, dairy, and agriculture markets.
Orica Limited also involves in the remediation activities, including the
operation of a groundwater treatment plant. The company primarily operates in
Australia, New Zealand, Asia, North America, Latin America, and Europe. Orica
Limited is headquartered in East Melbourne, Australia.
Name : BRONSON
& JACOBS PTY LTD
Affiliation type : Sister
Company
Address : 70
Marple Avenue
Villawood, NSW 2163
Australia
Name : MINOVA
AUSTRALIA PTY LTD
Affiliation type : Sister
Company
Address : 102
Albatross Road
Nowra, NSW 2541
Australia
Name : ORICA
NEW ZEALAND LIMITED
Affiliation type : Sister
Company
Address : 166
Totara Street
Mt Maunganui, Tauranga 3116
New Zealand
Name : CHEMNET
PTY LIMITED
Affiliation type : Sister
Company
Address : Level
8, 1 Nicholson Street
East Melbourne, VIC 3002
Australia
Related companies and corporate affiliations comments : Other companies
of the Orica 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 : Public
Record Sources
Financial statement date : 30/09/12
Type of accounts : Full
audited
Currency : Australia
Dollar (AUD)
Exchange rate : 1
USD = AUD 1.10 as of 30-07-2013
Summarized
Financial Information
Consolidation type : Group
Consolidated Group Consolidated
Currency : Australia
Dollar (AUD) Australia
Dollar (AUD)
Denomination : (x1)
One (x1)
One
Date of financial year end : 30/09/12
30/09/11
Length of accounts : 12
months 12
months
Sale turnover / Income : 6,674,100,000
6,182,300,000
Operating profit : 655,400,000
1,028,300,000
Profit before tax : 527,200,000
904,800,000
Net income : 423,800,000
663,400,000
Non current assets : 5,585,600,000
5,643,000,000
Current assets : 2,038,000,000
1,985,200,000
Inventories : 693,600,000
614,500,000
Total assets : 7,623,600,000
7,628,200,000
Current liabilities : 1,580,300,000
1,457,400,000
Non current liabilities : 2,796,800,000
2,295,200,000
Total liabilities : 4,377,100,000
3,752,600,000
Share equity : 3,246,500,000
3,875,600,000
Retained earning : 2,376,200,000
2,363,400,000
Comments : The group’s consolidated
financial information above relates to the Subject’s Parent / Ultimate Holding
Company Orica Limited and all its subsidiaries which include the Subject.
Main activities : The Subject is engaged in
manufacture and distribution of mining products, consumables, and chemical products.
The Subject is ultimately owned by Orica
Limited. Orica is an Australian-owned, publicly-listed global company with
headquarters in Melbourne, Australia. Orica Limited shares are listed on the
Australian Securities Exchange (ASX) and are traded under the code ORI.
Orica Limited manufactures and distributes
mining products, consumables, and chemical products, as well as provides mining
services.
The company’s Mining Services segment
manufactures and supplies commercial explosives, initiating systems, and
blasting technology to the mining, quarrying, construction, and exploration industries,
as well as provides mining services.
Its Minova segment manufactures and supplies
chemical-based consumables, bolts, equipment, accessories, and services for
ground consolidation, roof support, ventilation, and water control to the
underground mining, tunneling, and civil construction markets.
Its Chemicals segment engages in the
manufacture, distribution, and trade of a range of industrial and specialty
chemicals for use in various industries, including water treatment, pulp and
paper, food and beverage, construction, and mining industries, as well as
industrial, dairy, and agriculture markets.
Orica Limited also involves in the
remediation activities, including the operation of a groundwater treatment
plant. The company primarily operates in Australia, New Zealand, Asia, North
America, Latin America, and Europe.
Purchases
Local : Yes
International : Worldwide
Sales
Local : Yes
International : Worldwide
Property &
Assets
Premises : The Subject operates from
group headquarters at the verified headingaddress consisting of an
administrative office.
Branches : In
addition, the Subject operates from production facility located at:
Gate 6, Tilburn Road
Deer Park, VIC 3023
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
Local : Prepayment,
Bank transfer, D/P, Credit 30-120 days
International : L/C,
Telegraphic transfer, D/P, Credit 30-120 days
Sales Term
Local : Prepayment,
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 basedon 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.59.83 |
|
|
1 |
Rs.91.76 |
|
Euro |
1 |
Rs.79.33 |
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 |
|
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.