MIRA INFORM REPORT
|
Report Date : |
29.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
A B C TISSUE PRODUCTS PTY LTD |
|
|
|
|
Formerly Known as: |
A B C TISSUE
PTY LTD |
|
|
|
|
Registered Office : |
34-36 Redfern
Street, Wetherill Park, New South Wales, Zip/postal code 2164 |
|
|
|
|
Country : |
Australia |
|
|
|
|
Financials (as on) : |
30.06.2011 |
|
|
|
|
Date of Incorporation : |
18.04.1986 |
|
|
|
|
Com. Reg. No.: |
003085112 |
|
|
|
|
Legal Form : |
Australian Proprietary Company |
|
|
|
|
Line of Business : |
Manufacturing
and wholesale of tissue and related products. |
|
|
|
|
No. of Employees : |
593 |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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.
|
Source : CIA |
Verified Address
Subject name :
A B C TISSUE PRODUCTS PTY LTD
Business
address : 34-36 Redfern Street
Town : Wetherill Park
Province : New South Wales
Zip/postal
code : 2164
Country : Australia
Tel : +61 2 87872222
Fax : +61 2 87872280
Website : www.abctissue.com
Registered
address : 34-36 Redfern Street
Town : Wetherill Park
Province : New South Wales
Zip/postal
code : 2164
Country : Australia
Executive Summary
Date founded
or registered : 18/04/1986
Legal form : Australian
Proprietary Company
Chief
executive : Henry
Kei Shing Ngai
Issued &
paid up capital AUD 22,703,446
Sales turnover
: AUD 348,120,845 (Consolidated
12 months, 30/06/2011)
Net income : AUD 31,801,711
(Consolidated 12 months, 30/06/2011)
Total fixed
assets : AUD
395,774,434 (Consolidated 12 months, 30/06/2011)
Line of
business : Manufacturing
and wholesale of tissue and related products.
Staff employed
: 593 employees
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 good
Organization
structure : Organizational
structure is consistent
Detrimental : No detrimental found
Payment history : No payment delays noted
Registry Data
Registration
date : 18/04/1986
Legal form : Australian Proprietary Company
Registration
no Australian Company Number:
003085112
Registered
authority : Australian Securities and
Investments Commission
Fiscal/ Tax no
: Australian Business Number:
33003085112
Registry
status : Live/Active
Previous name
: A B C TISSUE PTY LTD
(initial)
Change of
legal form : None reported.
Other
registration : A BETTER CHOICE
TISSUE PRODUCTS is a business name owned by the
Subject registered on 29/10/1999 under business
registration number: V9509207.
Key Management
Name : Henry Kei Shing Ngai
Designation : Managing Director
Name : Sunny Siu Kei Ngai
Designation : Company Secretary
Appointments
Name : Chek Ming Ly
Designation : Director
Appointment
date : 29/06/05
Address : 56 George Street
Canley Heights, NSW 2166
Australia
Biography : Born on 01-12-1956 in Phnom
Penh, Cambodia.
Name : Henry Kei Shing Ngai
Designation : Director
Appointment
date : 18/04/86
Address : 5-6 Moree Place
Bossley Park, NSW 2176
Australia
Biography : Born on 10-02-1946 in Canton,
China.
Name : Sunny Siu Kei Ngai
Designation : Company Secretary
Appointment
date : 12/11/91
Address : 89 Peninsula Drive
Breakfast Point, NSW 2137
Australia
Biography : Born on 27-08-1969 in Canton, China.
Staff employed
: 593 employees
Key Advisors
Auditors : ERNST & YOUNG
'Ernst & Young Centre'
680
George Street
Sydney,
NSW 2000
Australia
Composition
Authorized Capital
: AUD 22,703,446
No of shares : 22,123,650 Ordinary Shares
Share par
value : No par value
Issued capital
: AUD 22,703,446
Paid up capital : AUD
22,703,446
How listed : Full List
Composition
Shareholder
name : Bong Tran
Address : Unit 9, 9-13 Hill Street
Cabramatta, NSW 2166
Australia
No. of shares
: 21,769 Ordinary shares
Shareholder
name : Leng Tran
Address : 13 The Grove
Fairfield, NSW 2165
Australia
No. of shares
: 47,934 Ordinary shares
Shareholder
name : Ratha Phyrum Ta
Address : C/o A B C TISSUE PRODUCTS
PTY LTD
34-36 Redfern Street
Wetherill Park, NSW 2164
Australia
No. of shares
: 78,495 Ordinary shares
Shareholder
name : Chea Sieng Ly
Address : 323 Hamilton Road
Fairfield West, NSW 2165
Australia
No. of shares
: 81,635 Ordinary shares
Shareholder
name Siv Lang Ly
Address : 56 George Street
Canley Heights, NSW 2166
Australia
No. of shares
: 104,660 Ordinary shares
Shareholder
name : Hour Sea Ly
Address : Unit 22, 9-13 Hill Street
Cabramatta, NSW 2166
Australia
No. of shares
: 108,847 Ordinary shares
Shareholder
name : Tungi Tsai
Address : C/o CHAN LI MACHINERY CO.,
LTD.
No. 103 Wencheng Road
Taishan Hsiang
Taipei Hsien 243
Taiwan
No. of shares
: 500,000 Ordinary shares
Shareholder
name : HONG KONG OVERSEAS INVESTMENT
LIMITED
Address : RM 1005-6, 1st Floor, Ha
Lung Building
25-29 Ko Shing Street
Sai Ying Pun
Hong Kong
No. of shares
: 3,897,754 Ordinary shares
Shareholder
name : Chek Ming Ly
Address : 56 George Street
Canley Heights, NSW 2166
Australia
No. of shares
: 317,693 Ordinary shares
Shareholder
name : Henry Kei Shing Ngai
Address : 5-6 Moree Place
Bossley Park, NSW 2176
Australia
No. of shares
: 15,007,730 Ordinary shares
Comments : Other shareholders include:
Shareholder
name: Terence Maxwell Leckie
Address: 76 The Appian Way, Mount
Vernon, NSW 2759, Australia
No. of shares:
10,000 Ordinary Shares
Shareholder
name: Kenneth Wong Hon Ki
Address: Room 829 Wah Lok House,
Wah Fu Estate, Aberdeen, Hong Kong
No. of shares:
10,466 Ordinary Shares
Shareholder
name: Loretta Lau
Address: 39 Gollan Avenue,
Oatlands, NSW 2117, Australia
No. of shares:
52,330 Ordinary Shares
Shareholder
name: Anna Lai Chang Ngai
Address: 13-14 Albion Close,
Bossley Park, NSW 2176, Australia
No. of shares:
489,646 Ordinary Shares
Shareholder
name: Anny Lai Lai Ngai
Address: Cnr Roscommon Road &
Nesdale Avenue, Wiri, Auckland 2025, New Zealand
No. of shares:
515,811 Ordinary Shares
Shareholder
name: Sunny Siu Kei Ngai
Address: 89 Peninsula Drive,
Breakfast Point, NSW 2137, Australia
No. of shares: 560,673 Ordinary Shares
Shareholder name: Sona Siou
Address: 13-14 Albion Close,
Bossley Park, NSW 2176, Australia
No. of shares: 104,660 Ordinary Shares
Shareholder name: Chek Houy Ly
Address: 42A Glen Logan Road,
Bossley Park, NSW 2176, Australia
No. of shares: 138,847
Ordinary shares
Structure
Name : HONG KONG OVERSEAS INVESTMENT
LIMITED
Affiliation
type : Shareholder
Address : RM 1005-6, 1st Floor, Ha Lung Building
25-29 Ko Shing Street
Sai Ying Pun
Hong Kong
Name : QUEENSLAND TISSUE PRODUCTS PTY LTD
Affiliation
type : Wholly-owned Subsidiary
Address : 45-57 Antimony Street
Carole Park, QLD 4300
Australia
Name : A.B.C. PAPER & PAPER MILLS PTY.
LIMITED
Affiliation
type : Wholly-owned Subsidiary
Address : 34-36 Redfern Street
Wetherill Park, NSW 2164
Australia
Name : PACIFIC DISTRIBUTOR PTY LTD
Affiliation
type : Wholly-owned Subsidiary
Address : 34-36 Redfern Street
Wetherill Park, NSW 2164
Australia
Name : ABC TISSUE PRODUCTS (QLD) PTY LTD
Affiliation
type : Wholly-owned Subsidiary
Address : 34-36 Redfern Street
Wetherill Park, NSW 2164
Australia
Comments : Dormant.
Name : ABC TISSUE PRODUCTS (VIC) PTY LTD
Affiliation
type : Wholly-owned Subsidiary
Address : 34-36 Redfern Street
Wetherill Park, NSW 2164
Australia
Comments : Dormant.
Name : AUSTRALIA RECYCLING PTY LTD
Affiliation
type : Wholly-owned Subsidiary
Address : 34-36 Redfern Street
Wetherill Park, NSW 2164
Australia
Comments : Dormant.
Name : ABC TISSUE PRODUCTS (NZ) LIMITED
Affiliation
type : Associate
Address : 44 Noel Burnside Road
Wiri, Auckland 2025
New Zealand
Bank Details
Name of bank :
National Australia
Bank Limited
Address : Australia
Account
details : Current Account
Comments : It
is generally not the policy of local banks to provide credit status information
to
non related parties, however interested parties would be advised
to consult first
with the Subject if banker's references are required.
Mortgages : None reported.
Legal Fillings
Bankruptcy
fillings : None reported.
Court
judgements : None reported.
Tax liens : None reported.
Others : None reported.
Description
Source of
financial statement : Commercial
Registry Filings
Financial
statement date : 30/06/11
Type of
accounts : Full audited
Currency : Australia Dollar
(AUD)
Exchange rate
: 1 USD = AUD 1.08
as of 25-06-2013
Summarized
Financial Information
Consolidation
type : Consolidated Consolidated
Currency : Australia Dollar
(AUD) Australia Dollar
(AUD)
Denomination :
(x1) One (x1) One
Date of financial
year end : 30/06/11 30/06/10
Length of
accounts : 12 months 12 months
Sale turnover
/ Income : 348,120,845 307,024,271
Gross profit :
127,735,581 111,156,164
Operating
profit : 49,017,597 35,095,296
Profit before
tax : 43,590,438 36,151,059
Net income : 31,801,711 25,324,569
Non current
assets : 187,219,310 201,766,818
Current assets
: 208,555,124 160,836,135
Inventories : 108,334,353 97,084,130
Total assets : 395,774,434 362,602,953
Current
liabilities : 157,969,158
153,846,902
Non current
liabilities : 94,293,914 97,026,400
Total
liabilities : 252,263,072
250,873,302
Share equity :
143,511,362 111,729,651
Reserve : 27,198,712 27,198,712
Retained
earning : 94,740,209 62,938,498
Comments : The consolidated
financial information above relates to the Subject and its
subsidiaries.
The Subject's latest financial information is not available with
the Australian
Securities and Investments Commission.
Main
activities : The
Subject engages in manufacturing and wholesale of tissue and related
products.
Product & services :
Serviettes
Toilet tissues
Facial tissues
Dispensers
Hand towels
Hand cleanser
systems
Foam Soap
Brand : ABC
Purchases
International
: China, India, Indonesia,
Vietnam, Malaysia, Taiwan, Thailand
Sales
Local : Yes
International
: Worldwide
Property &
Assets
Premises : The Subject operates from
premises at the verified heading address
consisting of a production facility, warehouse and
administrative office.
Branches : None reported.
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 : Prepayment, D/P, Bank
transfer, Prepayment, Credit 30-120 days
International
: L/C, D/P, Telegraphic
transfer, Prepayment, Credit 30-120 days
Sales Term
Local : Prepayment, D/P, Bank
transfer, Prepayment, Credit 30-120 days
International
: L/C, D/P, Telegraphic transfer,
Prepayment, 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.59.70 |
|
UK Pound |
1 |
Rs.91.14 |
|
Euro |
1 |
Rs.77.98 |
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.