MIRA INFORM REPORT
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Report Date : |
28.06.2013 |
IDENTIFICATION DETAILS
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Name : |
BLUE STAR GROUP (VICTORIA) PTY LIMITED |
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Formerly Known As : |
THE
CRAFTSMAN PRESS PTY. LIMITED |
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Registered Office : |
C/O Blue Star Group Australia Pty
Limited, 81 Derby Street, Silverwater,New South Wales, Zip/Postal Code 2128 |
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Country : |
Australia |
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Date of Incorporation : |
08.05.1926 |
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Com. Reg. No.: |
004125231 |
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Legal Form : |
Australian
Proprietary Company |
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Line of Business : |
Provider of
commercial printing services. |
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No. of Employees : |
450
employees (Blue Star Group) |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 :
BLUE STAR GROUP
(VICTORIA) PTY LIMITED
Other style /
Business name : BLUE STAR PRINT / BLUE
STAR GO
Business
address : 3 Nursery
Avenue
Clayton Business Park
Town : Clayton
Province : Victoria
Zip/postal
code : 3168
Country : Australia
Tel : +61 3
85146000
Fax : +61 3
85146199
Website : www.bluestargroup.com.au
Registered
address : C/O BLUE STAR
GROUP AUSTRALIA PTY LIMITED
81 Derby Street
Town : Silverwater
Province : New South Wales
Zip/postal
code : 2128
Country Australia
Comments : The provided
address Building B, 350 Parramatta Road, Homebush, NSW 2140,
Australia is the Australian head office for Blue Star Group.
Executive Summary
Date founded
or registered : 08/05/1926
Legal form : Australian
Proprietary Company
Chief
executive : Geoff
Bruce Selig
Issued &
paid up capital : AUD
4,422,048.88
Line of
business : Provider
of commercial printing services.
Staff employed
: 450 employees
(Blue Star Group)
Company Analysis
Country risk :
Country risk
is minimal
Operation
trend : Operational
trend is steady
Management
experience : Management is
reasonably experienced
Financial
performance : Financial
performance is undetermined
Organization
structure : Organizational
structure is acceptable
Detrimental : Some
detrimental found
Payment
history : Payment
punctuality is undetermined
Registry Data
Registration
date : 08/05/1926
Legal form : Australian
Proprietary Company
Registration
no Australian
Company Number: 004125231
Registered
authority : Australian
Securities and Investments Commission
Fiscal/ Tax no
: Australian
Business Number: 53004125231
Registry
status : Live/Active
Previous name
: THE CRAFTSMAN
PRESS PTY. LIMITED
PENFOLD PRINTERS (VIC) PTY.LIMITED
W.C. PENFOLD (VIC.) PTY. LIMITED
THE CRAFTSMAN PRESS (initial)
Change of legal form : None reported.
Key Management
Name : Geoff Bruce
Selig
Designation : Managing Director
Appointments
Name : Angus John Stuart
Designation : Director
Appointment
date : 08/11/12
Address : 8 Simpson Street
Bondi, NSW 2026
Australia
Biography : Born on 26/09/1974 in Sydney,
New South Wales, Australia.
Name : James Scott Charles
Todd
Designation : Director
Appointment
date : 08/11/12
Address : 14 Greycliffe Avenue
Vaucluse, NSW 2030
Australia
Biography : Born on 23/03/1964 in Sydney,
New South Wales, Australia.
Name : Geoff Bruce Selig
Designation : Director
Appointment
date : 08/11/12
Address : 32 Nelson Street
Gordon, NSW 2072
Australia
Biography : Born on 08/10/1964 in Sydney,
New South Wales, Australia.
Name : Paul Stephen Selig
Designation : Director
Appointment
date : 08/11/12
Address : 8 The Promenade
Cheltenham, NSW 2119
Australia
Biography : Born on 09/10/1961 in Sydney,
New South Wales, Australia.
Name : Darren John Dunkley
Designation : Company Secretary
Appointment
date 05/12/12
Address : 17 Lewis Street
Lapstone, NSW 2773
Australia
Biography : Born on 18/10/1968 in
Northampton, United Kingdom.
Staff employed
: 450 employees (Blue Star
Group)
Key Advisors
Auditors : DELOITTE TOUCHE TOHMATSU
Level 17, 550 Bourke Street
Melbourne, VIC 3000
Australia
Composition
Authorized
Capital : AUD 4,422,048.88
No of shares :
301,050 Ordinary Shares
Share par
value : No par value
Issued capital
: AUD 4,422,048.88
Paid up capital : AUD
4,422,048.88
Composition
Shareholder name : BLUE STAR GROUP AUSTRALIA PTY LIMITED
Address : 81 Derby Street
Silverwater, NSW 2128
Australia
No. of shares
: 301,050 Ordinary Shares
% of shares : 100%
Structure
Name : CAXTON PRINT GROUP
HOLDINGS PTY LIMITED
Affiliation
type : Ultimate
Holding Company
Address : 81 Derby Street
Silverwater, NSW 2128
Australia
Name : BLUE STAR GROUP
AUSTRALIA PTY LIMITED
Affiliation
type : Parent
Company
Address : 81 Derby Street
Silverwater, NSW 2128
Australia
Name : CAXTON WEB PTY LTD
Affiliation
type : Sister
Company
Address : 45 Huntingwood Drive
Huntingwood, NSW 2148
Australia
Name : CAXTON PRINT GROUP PTY
LIMITED
Affiliation
type : Sister
Company
Address : 81 Derby Street
Silverwater, NSW 2128
Australia
Name : CAXTON PRINT HOLDINGS
PTY LTD
Affiliation
type : Sister
Company
Address : 81 Derby Street
Silverwater, NSW 2128
Australia
Related companies and corporate affiliations comments
Other
companies of the Caxton 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
Comments : Due to the Subject’s
recent structure change in organization, financial
information is not available.
The Subject is classified as a small proprietary company by the
Australian
Securities & Investments Commission hence is not required to
disclose their
financial statement.
A proprietary company is defined as small for a financial year if
it satisfies at least
two of the following:
- The consolidated revenue for the financial year of the company
and any entities
it controls is less than $25 million;
-The value of the consolidated gross assets at the end of the
financial year of the
company and any entities it controls is less than $12.5 million,
and
-The company and any entities it controls have fewer than 50
employees at the
end of the financial year.
OPERATION DETAILS
Main
activities : The
Subject provides commercial printing services.
The Subject operates from 2 divisions:
Blue Star PRINT - Sheet fed printing division offering production
of printed
materials from brochures, booklets, flyers and posters to
point-of-sale
marketing and business stationery.
Blue Star GO - Digital print services
As of November 8, 2012, the Subject’s Parent Company Blue Star
Group
Australia Pty Limited operates as a subsidiary of Caxton Print
Group
Holdings Pty Limited.
Product &
services : Blue Star
PRINT
-Commercial and general print
-Annual reports
-Publications
-Books
-Brochures
-Impact and self-mailers
-Corporate communications
-Marketing print collateral
-Forms
-Point of sale
Blue Star GO
-Colour digital printing
-Short-run general print
-Brochures
-Forms
-Business cards
-Onsite print solutions
Brand : Blue Star PRINT
Blue Star GO
Purchases
Local : Yes
International
: Asian
countries
Sales
Local : Yes
International
: None
reported.
Key events : 8 November 2012
Wolseley and CaxtonWeb acquire Blue Star’s Australian
Operations
Leading mid-sized private equity firm Wolseley Private Equity and
Sydney
based web offset printer CaxtonWeb today announced that they have
acquired the Australian operations of the Blue Star Group
(including
Webstar Australia), one of the region’s largest print
communications
groups.
The Group’s senior management team includes Geoff and Paul Selig,
both
former CEO’s of Blue Star’s Australian operations, and Mike
Shannon,
Managing Director of CaxtonWeb.
Group Managing Director Geoff Selig said: “we are delighted once
again to
have the opportunity of working with the talented and committed
team at
Blue Star, our suppliers and our customers. The business has a
market
leading value proposition and we look forward to evolving this
further with
our customers over the coming years”
Wolseley Managing Director James Todd said: “importantly, the
strength of
our balance sheet provides financial security for all stakeholders
and will
further support our continued investment in leading edge
technologies that
provide a broad range of innovative communications solutions”
Blue Star Group has publicly stated that they are continuing the
process of
divesting their New Zealand operations.
Property &
Assets
Premises : The Subject
operates from premises at the verified heading address
consisting of a printing facility, warehouse and
administrative office.
Branches : In addition, the
Subject operates from group head office located at:
81 Derby Street
Silverwater, NSW 2128
Australia
Tel: +61 2 97483411
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%
PAYMENT HISTORY
Purchase Term
Local : Bank transfer,
Prepayment, Credit 30-90 days
International
: Prepayment, Telegraphic
transfer, Credit 30-90 days
Sales Term
Local : Prepayment, Bank
transfer, Credit 30-90 days
Trade Reference/
Payment Behaviour
Comments : As local and international
trade references were not supplied, the Subject's
payment track record history cannot be appropriately
determined.
Investigation Note
Sources : Interviews and material
provided by the Subject
Other official and local business sources
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.60.59 |
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UK Pound |
1 |
Rs.92.92 |
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Euro |
1 |
Rs.78.94 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.