MIRA INFORM REPORT
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Report Date : |
11.06.2013 |
IDENTIFICATION DETAILS
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Name : |
GLENCORE GRAIN PTY LIMITED |
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Formerly Known As : |
BROOKS GRAIN
PTY. LTD. |
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Registered Office : |
Level 8, 484 St Kilda Road, Melbourne, Victoria, Zip/postal code 3004 |
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Country : |
Australia |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
18.09.2003 |
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Com. Reg. No.: |
106378885 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Processing, handling, marketing,
wholesale distribution and export of various types of grains |
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No. of Employees : |
70 employees
(Subject); 57,656 employees (Glencore Xstrata Group) |
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 : |
Good |
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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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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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 |
Verified Address
Subject name : GLENCORE GRAIN PTY
LIMITED
Other style /
Business name : BROOKS GRAIN
Business
address : Level 8, 484
St Kilda Road
Town : Melbourne
Province : Victoria
Zip/postal
code : 3004
Country : Australia
Tel : +61 3 98642000
Fax : +61 3
98642002
Website : www.glencoregrain.com.au
Registered
address : Level 8, 484 St
Kilda Road
Town : Melbourne
Province : Victoria
Zip/postal
code : 3004
Country : Australia
Postal address
: P.O. Box 7656
Town : St. Kilda
Road
Province : Victoria
Zip/postal
code : 8004
Country : Australia
Executive Summary
Date founded
or registered : 18/09/2003
Legal form Australian
Proprietary Company
Chief
executive : David
Mattiske
Issued &
paid up capital : AUD 18,000,000
Sales turnover
: AUD
1,801,176,000 (Non-Consolidated 12 months, 31/12/2011)
Net income : AUD 13,279,000
(Non-Consolidated 12 months, 31/12/2011)
Total fixed
assets : AUD
949,127,000 (Non-Consolidated 12 months, 31/12/2011)
Line of
business : Processing,
handling, marketing, wholesale distribution and export of various
types of grains.
Staff employed
: 70 employees
(Subject); 57,656 employees (Glencore Xstrata 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
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 : 18/09/2003
Legal form : Australian
Proprietary Company
Registration
no Australian
Company Number: 106378885
Registered
authority : Australian
Securities and Investments Commission
Fiscal/ Tax no
: Australian
Business Number: 29106378885
Registry
status : Live/Active
Previous name
: BROOKS GRAIN PTY.
LTD. (initial)
Change of
legal form : None reported.
Key Management
Name : David Mattiske
Designation : Managing Director
Appointments
Name : Andreas Peter Hubmann
Designation : Director
Appointment
date : 19/12/03
Address : C/o GLENCORE INTERNATIONAL
AG
Baarermattstrasse 3
6340 Baar
Switzerland
Biography : Born on 11-10-1966 in Zug,
Switzerland.
Name : Ernest Christian Barend
Mostert
Designation : Director
Appointment
date : 17/02/06
Address : Frankenslag 76
2582 HT Den Haag
The Netherlands
Biography : Born on 18-08-1964 in
Pretoria, South Africa.
Name : David Mattiske
Designation : Director
Appointment
date : 01/06/11
Address : 3 Hughes Street
Malvern East, VIC 3145
Australia
Biography : Born on 16-10-1976 in Box
Hill, Victoria, Australia.
Name : Ian William Ritter
Designation : Company Secretary
Appointment
date : 17/10/11
Address : 5 Skyline Drive
Keilor, VIC 3036
Australia
Biography : Born on 13-10-1977 in
Melbourne, Victoria, Australia.
Staff employed
: 70 employees (Subject); 57,656 employees (Glencore Xstrata Group)
Key Advisors
Auditors :
DELOITTE TOUCHE TOHMATSU
550 Bourke
Street
Melbourne, VIC
3000
Australia
Composition
Authorized
Capital : AUD 18,000,000
No of shares 18,000,000 Ordinary Shares
Share par
value : AUD 1
Issued capital
: AUD 18,000,000
Paid up capital : AUD
18,000,000
How listed : Full List
Composition
Shareholder
name : GLENCORE INTERNATIONAL AG
Address : Baarermattstrasse 3
6340 Baar
Switzerland
No. of shares
: 18,000,000 Ordinary Shares
% of shares : 100%
Structure
Name : GLENCORE XSTRATA PLC
Affiliation
type : Ultimate Holding Company
Address : Baarermattstrasse 3
6340 Baar
Switzerland
Comments : Glencore is involved in the production,
marketing and distribution of energy,
agricultural and metal commodities.
History:
Founded in
1974 as Marc Rich + Co AG, what is now Glencore originated as a
metals,
minerals and crude oil marketing company. During the 1980s, it expanded
operations to
include agricultural and energy products. In 1994 the company was
renamed
Glencore International after a management buyout. The company went
public in 2011
and is now listed on the London and Hong Kong Stock Exchanges.
Glencore is
involved in the automotive, oil, power, steel and food processing
industries.
The company, and its subsidiaries, are directly involved in the
production of
many commodities, but also sources and markets materials from
third party
companies. Glencore's operations can be divided into three commodity
segments:
1) Metals and Minerals:
Glencore's
metals and minerals operations are involved in the production and
trading of
alumina, aluminum, zinc, copper, lead, ferroalloys, nickel, cobalt, and
iron ore.
Production can involve one or both of mining ores and refining of metals.
The metals and
minerals division of Glencore is operated from Baar and
Stamford. Key
assets include:
- Kazzinc, a
zinc/lead/copper/gold production facility in Kazakhstan (50.7%
ownership).
- Mutanda
Mining (40% ownership) and Katanga Mining Limited (75.15%
ownership),
both copper metal mining companies.
- Mopani, a
copper and cobalt mine in Zambia (73.1% ownership).
- AR Zinc,
which owns and operates the Aguilar mine, Palpala lead smelter and
the AR Zinc
smelter in Argentina (100% ownership).
- Cobar Mine,
a copper mine in Australia (100% ownership).
- Los
Quenuales, a zinc and lead concentrate company (97% ownership).
- Sherwin
Alumina, an aluminum refinery in Texas (100% ownership).
- United
Company Rusal Limited of Russia, one of the largest aluminum
producers in
the world (8.75% ownership).
- The Murrin
Murrin nickel-cobalt project in Australia (82% ownership, directly and
indirectly).
- Century
Aluminum Co., which produces aluminum in the USA and Iceland
(44.4%
ownership).
- A 34.4%
interest in Xstrata, a major global copper, zinc, nickel and vanadium
producer.
- Recylex, a
lead, zinc and propylene recycling business, with production sites in
France,
Germany and Belgium (32.2% ownership).
2) Energy Operations:
Glencore's
energy segment encompasses the production of oil, gas, coal and
coke, as well
as value-added materials, including liquefied petroleum gas, jet fuel
and naphtha.
The energy division of Glencore is operated primarily from London,
Baar, Stamford
and Singapore. Key assets include:
- Chemoil
Energy Limited, a marine fuel supplier (51.5 % ownership).
- Prodeco
Group, a coal mining operation in Colombia (100% ownership).
- Shanduka
Coal, a coal mining company in South Africa (70% ownership).
3) Agricultural Operations:
Glencore's
agricultural operations are involved in the trading and distribution of
wheat, corn,
barely, rice, oilseeds, meals, edible oils, biodiesel and sugar. These
are purchased
from a variety of sources ranging from large scale refineries to
individual
farmers. Glencore is also heavily involved in the storing, processing and
handling of
these commodities. Agricultural operations are managed by the
offices in
London and Rotterdam, while key assets include:
- A sunseed
crushing plant in the Ukraine (80% ownership).
- Moreno Group
of Argentina, which includes silos, an export elevator, and four
crushing
plants (100% ownership).
- Farms in
Australia, Paraguay, Russia, Ukraine, and Kazakhstan.
Glencore
Xstrata has a primary listing on the London Stock Exchange (LSE) and
a secondary
quote on the Hong Kong Stock Exchange (HKEx). The company is
registered in
Jersey, Channel Islands and operates from its headquarters in
Switzerland.
Name : GLENCORE INTERNATIONAL
AG
Affiliation
type : Parent
Company
Address : Baarermattstrasse 3
6340 Baar
Switzerland
Comments : Glencore International AG
sources, produces, processes, refines, transports,
stores, finances, and supplies commodities. The company
was formerly known as
Marc Rich & Co AG. The company is based in Baar, Switzerland.
Glencore
International AG operates as a subsidiary of Glencore Xstrata Plc.
Name : GLENCORE GRAIN B.V.
Affiliation
type : Sister
Company
Address : Blaak 31
3011GA Rotterdam
Netherlands
Name : GLENCORE COMMODITIES
LTD
Affiliation
type : Sister
Company
Address : 50 Berkeley Street
London W1J 8HD
United Kingdom
Name : GLENCORE SINGAPORE PTE.
LTD.
Affiliation
type : Sister
Company
Address : 1 Temasek Avenue
#34-01, Millenia Tower
Singapore 039192
Singapore
Related companies and corporate affiliations comments
Other
companies of the Glencore Xstrata Group should be considered affiliates of the
Subject.
Bank Details
Name of bank :
Commonwealth Bank
of 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 : 31/12/11
Type of
accounts : Full audited
Currency : Australia Dollar
(AUD)
Exchange rate
: 1 USD = AUD 1.06
as of 10-06-2013
Summarized Financial
Information
Consolidation
type : Non Consolidated Non Consolidated Group Consolidated
Currency : Australia Dollar
(AUD) Australia Dollar
(AUD) US Dollar (USD)
Denomination : (x1) One (x1) One (x1) One
Date of
financial year end : 31/12/11 31/12/10 31/12/12
Length of
accounts : 12 months 12 months 12 months
Sale turnover
/ Income : 1,801,176,000 795,048,000 214,436,000,000
Gross profit : 43,267,000 40,745,000
Profit before
tax : 19,025,000 24,302,000 1,076,000,000
Net income : 13,279,000 16,946,000 1,152,000,000
Non current
assets : 2,007,000 456,000 51,478,000,000
Current assets
: 947,120,000 652,632,000 54,059,000,000
Inventories : 592,148,000 405,696,000 20,682,000,000
Total assets :
949,127,000 653,088,000 105,537,000,000
Current
liabilities : 885,126,000
596,368,000 47,149,000,000
Non current
liabilities : 97,000 6,095,000 24,088,000,000
Total
liabilities :
885,223,000
602,463,000 71,237,000,000
Share equity :
63,904,000 50,625,000 34,300,000,000
Retained
earning 45,904,000 32,625,000
Comments : The non-consolidated financial
information above relates to the Subject only.
The group’s consolidated financial information above relates to
Glencore
International PLC and all its subsidiaries which include the
Subject. Glencore
International PLC merged with Xstrata PLC in May 2013 to become
Glencore
Main
activities : The
Subject engages in processing, handling, marketing, wholesale
distribution and export of various types of grains such as wheat,
corn,
barley, rice, soybeans, oilseeds, edible oils and biodiesel.
The Subject is ultimately owned by Glencore Xstrata PLC.
Glencore Xstrata PLC engages in the production, sourcing,
processing,
refining, transporting, storage, financing, and supply of
commodities
worldwide. It operates in three segments: Metals and Minerals,
Energy
Products, and Agricultural Products.
The Metals and Minerals segment
engages in mining, smelting, refining, and warehousing copper,
nickel,
zinc/lead, alloys, alumina/aluminum, and iron ore products. The
Energy
Products segment activities include coal mining and oil production
operations; and investments in handling, storage, and freight
equipment
and facilities. The Agricultural Products segment engages in the
handling,
processing, and storage of grains, such as wheat, corn, and
barley;
oilseeds, including soya beans and soft seeds; oil seed products,
which
include including edible oils and meals; and cotton and sugar.
Glencore
Xstrata PLC was formerly known as Glencore International PLC and
changed its name to Glencore Xstrata PLC in May 2013. The company
was founded in 1974 and is headquartered in Baar, Switzerland with
presence and additional offices internationally.
Product & services :
Wheat
Corn
Barley
Rice
Soybeans
Oilseeds
Edible oils
Biodiesel
Purchases
Local : Yes
International
: Worldwide
Sales
Local : Yes
International
: Worldwide
Key events : 5 May 2013
Newly merged
Glencore Xstrata promises aggressive cuts
Glencore
Xstrata PLC told investors on Friday it would return excess cash,
slash costs
and might sell unwanted assets, raising expectations it would
easily exceed
planned synergies of $500-million (U.S.) from the deal that
created the
new group.
Unveiling a
management team packed with veteran Glencore executives,
the group
promised to “cut bureaucracy and duplication,” vowing it would
reduce
administrative staff, and cut divisional offices and underperforming
projects to
ensure success, even at a time of cooling commodity prices.
Mining
mega-deals have had a mixed record of success over the past
decade, but a
day after Glencore sealed the acquisition of Xstrata, the
biggest-ever
takeover in the sector, its shares soared 6 per cent, helped by
a jump in the
price of copper. At current prices, the group is worth
$73-billion.
“If we can cut
costs enough, get rid of these corporate head offices, we
can cut a lot
of fat out of the system. These synergies and overhead
reductions –
that figure can ensure this merger is a success,” chief
executive
officer Ivan Glasenberg said in an interview.
“The target of
$500-million is only the synergies on the trading operations.
When we came
up with that figure, we had no idea what the overheads
were in
Xstrata … and it wasn’t a takeover at that time.”
He said
additional savings would be “substantial” as Xstrata itself had said
it could cut
$300-million of administration costs on top of trading savings –
a number Mr.
Glasenberg referred to as “low-hanging fruit.”
In slides to
accompany a presentation to investors on Friday, Glencore said
its previously
announced $500-million of synergies in the first full year
would be
“comfortably met.” Analysts expect a figure of at least double the
original
amount.
But for all
the talk of cuts and the potential for sales, Glencore and its
management
team face the biggest challenge since the trader was set up
almost four
decades ago – integrating a $46-billion miner as the cycle
turns, and
running Xstrata’s assets with only one of the group’s key
executives.
Leaving little
doubt that what was a merger of equals has ended as a
takeover, just
two of 14 top divisional jobs will be taken by Xstrata
managers –
Peter Freyberg running coal mining and Mark Eames in
charge of iron
ore projects. Coal trading will remain the preserve of
Glencore’s Tor
Peterson.
Mr. Glasenberg
brushed off concerns about the Glencore team’s ability to
run Xstrata’s
mines, telling analysts “no asset will fall through the cracks,”
and pointing
to Xstrata’s Mr. Freyberg at the head of the most complex
division:
coal. Mr. Freyberg joined Xstrata after it bought Glencore’s coal
assets a
decade ago.
Glencore’s
ebullient veteran Telis Mistakidis will run the key copper
division,
including mining and trading.
Copper alone
accounted for more than half Xstrata’s profit, but Glencore
dismissed
concerns it could be overstretching in copper – given a high
proportion of
joint ventures – and brushed off worries about further Xstrata
departures at
its mines.
Mr. Glasenberg
said he had no plans to bring in retention packages for key
operating
staff at Xstrata’s mines and had no concerns in an environment
where most
majors are cutting back.
“I am getting
more CVs than I have ever seen in this company,” he said,
adding
performance would be “well rewarded.”
CASH BACK
The group will
now take until the third quarter to carry out a full 100-day
review on
Xstrata’s mines and plants, which could result in the sale of
early-stage
“greenfield” projects – developments built from scratch where
costs in
recent years have soared. Signalling its tough stance on value,
Glencore set
its target return on equity for new projects at 20 to 25 per
cent.
Mr. Glasenberg
said it was not an ideal time to sell assets and Glencore
could keep
projects that were not “sucking a lot of money out of the
business.”
“We are not
desperate to sell assets,” he said. “Glencore will not be
selling assets
at the wrong time in the cycle.”
Most analysts,
however, expect cuts to Xstrata’s pipeline.
It has not yet
begun the process of selling Xstrata’s Las Bambas, the
$5.2-billion
Peruvian mine it has to divest to satisfy Chinese regulators, but
the group’s
chief financial officer Steven Kalmin said he expected Chinese
interest.
The group,
almost 25 per cent owned by its managers, also promised it
would return
excess capital to shareholders through regular and special
dividends, or
share buybacks – a sensitive subject for investors who have
long complained
of mining companies’ low dividend yields.
“We don’t want
excess capital to be sitting here, burning a hole, tempting
us to … do
something that is not consistent with what we have said on
capital
discipline,” Mr. Kalmin said.
“The ability
to increase payout ratios and cash is clearly going to be there
once this
current capex cliff begins tailing off … into 2015,” he added,
referring to a
drop off in planned spending, which begins in 2013 and
accelerates.
While Glencore
remains opportunistic and Mr. Glasenberg did not exclude
the
possibility of M&A deals, he said there were no targets on the horizon.
“We just want
to sit tight right now. The priority is to get this integration in
the right
place.”
Source:
www.theglobeandmail.com
3 March 2013
Glencore bosses'
£270m dividend payouts despite profits dive
The top five
directors in Glencore will collectively pocket about $410 million
(£270 million)
in dividends after the commodities trading giant - and its
impending merger partner
Xstrata - both revealed tumbling profits for 2012.
Glencore chief executive
Ivan Glasenberg is in line for the biggest windfall,
with his 1.09bn shares set
to yield $173 million in dividend income after the
group announced a 5%
increase in investor payouts to 15.75 cents a share
for the year.
His payout comes against a
backdrop of rising costs and falling prices
across the commodities
industry, as miners suffer from overcapacity at a
time of weak demand.
Glencore today reported a
25% drop in profits to $3.1 billion, while its
merger partner, Xstrata,
unveiled an even bigger 37% decline, to $3.6
billion.
Including writedowns, the
companies’ fortunes declined even further last
year, with Xstrata’s
profits falling by 79% to $1.2 billion after the miner took
$2.6 billion of impairment
charges, including writedowns on its stake in
troubled South African
platinum miner Lonmin and some of its other nickel
and zinc assets.
Meanwhile, adding
exceptional items to Glencore’s bottom line results
leaves profits 75% lower
than in 2011 at $1 billion. A $1.2 billion charge
relating to impairment
costs relating to its holding in Russian aluminium
producer Rusal was the
main reason for the decline.
Glencore said it hoped to
complete the £56 billion mega-merger it has
agreed with Xstrata by
April 16. The completion date has been pushed
back three times as the
companies wait for the Chinese authorities to rule
on the deal. The companies
have received clearance from their own
shareholders and the other
regulators.
The other main
beneficiaries of Glencore’s dividend increase are Daniel
Mate Badenes and Telis
Mistakidis, the co-heads of the copper division,
who will get about $65
million apiece.
Meanwhile, coal director
Tor Peterson will pocket about $57 million and
head of oil trading Alex
Beard will trouser around $50 million.
Glasenberg declined to
give an update on how Glencore and Xstrata would
look after the merger
until the deal is completed.
However, he said
opportunistic acquisitions were not off the agenda,
adding that Glencore could
stand to benefit as a new generation of bosses
at major mining companies
sold off their peripheral businesses.
“Those opportunities will
be there — that is something new in industry,” he said.
Source:
www.independent.co.uk
19 December 2012
Glencore completes
purchase of Viterra
Global commodities giant Glencore has announced
its acquisition of
Canadian
agribusiness group Viterra is complete.
Viterra
exports grain from Australia and owns grain handling facilities in
South Australia
and Victoria, with a sizeable malt barley operation.
In a
statement, Glencore says its $5.9 billion takeover "materially expands
Glencore's
existing operations in Australia ... and reinforces Glencore's
position as
one of the world's leading commodity suppliers".
In other
grains news, the harvest in central NSW in nearly complete, while,
in the south,
it should wrap up by Christmas.
Victoria has
delivered good volumes over the past week, with the harvest
60 per cent
complete.
Growers in
Queensland and NSW wanting to plant summer sorghum are
looking for
rain after an extended hot and dry period.
Source:
www.abc.net.au
Property &
Assets
Premises : The Subject operates from
premises at the verified heading address
consisting of an administrative office.
Branches : In addition, the Subject
operates from the following branches located at:
124-130 South Terrace
Adelaide, SA 5000
Australia
Tel: +61 8 82117199
Unit 11, 142-154 South Terrace
Fremantle, WA 6160
Australia
Tel: +61 8 93355688
37-39 Moorong Street
Wagga, NSW 2650
Australia
Tel: +61 2 69218383
Unit 5, Business Central
136-140 Russell Street
Toowoomba, QLD 4350
Australia
Tel: +61 7 46381496
Central bank : Reserve Bank of Australia
Reserve of foreign exchange & gold : US$ 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 2009: 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
Local : Bank transfer, D/P,
D/A, Credit 30-120 days
International
: L/C, Telegraphic
transfer, D/P, D/A, Credit 30-120 days
Sales Term
Local : Bank transfer, D/P,
D/A, Credit 30-120 days
International
: L/C, Telegraphic
transfer, D/P, D/A, 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.57.78 |
|
UK Pound |
1 |
Rs.89.71 |
|
Euro |
1 |
Rs.76.24 |
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.