MIRA INFORM REPORT
|
Report Date : |
30.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
TRONOX MINERAL SALES PTY LTD |
|
|
|
|
Formerly Known as: |
TIWEST SALES
PTY LTD |
|
|
|
|
Registered Office : |
Level 1, 1
Brodie-Hall Drive,Bentley, Western Australia, Zip/postal code 6102 |
|
|
|
|
Country : |
Australia |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
30.09.1988 |
|
|
|
|
Com. Reg. No.: |
009344094 |
|
|
|
|
Legal Form : |
Australian
Proprietary Company |
|
|
|
|
Line of Business : |
Marketing
arm of the Tronox Group operations in Australia |
|
|
|
|
No. of Employees : |
07 |
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 |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
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
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
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
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 also has a large services sector and is a significant exporter of natural resources, energy, and food. Key tenets of Australia''s trade policy include support for open trade and the successful culmination of the Doha Round of multilateral trade negotiations, particularly for agriculture and services. The Australian economy grew for 17 consecutive years before the global financial crisis. Subsequently, the former RUDD government introduced a fiscal stimulus package worth over US$50 billion to offset the effect of the slowing world economy, while the Reserve Bank of Australia cut interest rates to historic lows. These policies - and continued demand for commodities, especially from China - helped the Australian economy rebound after just one quarter of negative growth. The economy grew by 1.4% during 2009 - the best performance in the OECD - by 2.7% in 2010, and by 1.8% in 2011. Unemployment, originally expected to reach 8-10%, peaked at 5.7% in late 2009 and fell to 5.0% in 2011. As a result of an improved economy, the budget deficit is expected to peak below 4.2% of GDP and the government could return to budget surpluses as early as 2015. Australia was one of the first advanced economies to raise interest rates, with seven rate hikes between October 2009 and November 2010. The GILLARD government is focused on raising Australia''s economic productivity to ensure the sustainability of growth, and continues to manage the symbiotic, but sometimes tense, economic relationship with China. Australia is engaged in the Trans-Pacific Partnership talks and ongoing free trade agreement negotiations with China, Japan, and Korea.
|
Source : CIA |
Verified Address
Subject name :
TRONOX MINERAL SALES PTY LTD
Business
address : Level 1, 1 Brodie-Hall
Drive
Town : Bentley
Province : Western Australia
Zip/postal
code : 6102
Country : Australia
Tel : +61
8 93651333
Fax : +61 8 93651390
Website : www.australia.tronox.com
Registered
address : Level 1, 1 Brodie-Hall Drive
Town : Bentley
Province : Western Australia
Zip/postal
code : 6102
Country : Australia
Postal address
: Locked Bag 381,
Bentley Delivery Centre
Town : Bentley
Province : Western Austtralia
Zip/postal
code : 6983
Country : Australia
Executive Summary
Date founded
or registered : 30/09/1988
Legal form : Australian
Proprietary Company
Chief
executive : Dennis
Plester
Issued &
paid up capital : AUD 200
Sales turnover
: USD
1,832,000,000 (Group Consolidated 12 month, 31/12/2012)
Net income : USD 1,133,000,000
(Group Consolidated 12 month, 31/12/2012)
Total fixed
assets : USD
5,511,000,000 (Group Consolidated 12 month, 31/12/2012)
Line of
business : Marketing
arm of the Tronox Group operations in Australia.
Staff employed : 7
employees (Subject)
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 good
Organization
structure : Organizational
structure is stable
Detrimental : No
detrimental found
Payment
history : No payment
delays noted
Comments : Larger credit can
still be considered if guaranteed by Ultimate Holding Company.
Registry Data
Registration
date : 30/09/1988
Legal form : Australian Proprietary Company
Registration
no Australian Company Number:
009344094
Registered
authority : Australian Securities and
Investments Commission
Fiscal/ Tax no
: Australian Business Number:
40009344094
Registry
status : Live/Active
Previous name
: TIWEST SALES PTY LTD
K.M.A. SALES PTY LTD
COLONYDANE PTY. LTD. (initial)
Change of
legal form : None reported.
Key Management
Name : Dennis Plester
Designation : Marketing Manager
Name : Anthony Martin Orrell
Designation : Financial Manager
Appointments
Name : Michael Jon Foster
Designation : Director
Appointment
date : 15/06/12
Address : 3105 Canyon Road
Oklahoma City, OK 73120
United States
Biography : Born on 22/02/1967 in Ottawa,
United States.
Name : Daniel Davis Greenwell
Designation : Director
Appointment
date : 15/06/12
Address : 11 West Kings Highway
Sioux City, IA 51104
United States
Biography : Born on 05/08/1962 in
Hannibal, Missouri, United States.
Name : Anthony Martin Orrell
Designation : Director
Appointment
date : 15/06/12
Address : 5 Persimmon Place
Kalamunda, WA 6076
Australia
Biography : Born on 06/09/1957 in Perth,
Western Australia, Australia.
Name : Matthew Anselle Paque
Designation : Company Secretary
Appointment
date : 15/06/12
Address : 11100 Maple Grove
Oklahoma City, OK 73120
United States
Biography : Born on 01/09/1978 in Oklahoma
City, Oklahoma, United States.
Name : Kym Marie Abbott
Designation : Company Secretary
Appointment
date : 15/06/12
Address : 26A Riseley Street
Ardross, WA 6153
Australia
Biography : Born on 19/04/1982 in
Mandurah, Western Australia, Australia.
Staff employed
: 7 employees (Subject)
Composition
Authorized
Capital : AUD 200
No of shares :
200 Ordinary Shares
Share par
value : AUD 1
Issued capital
: AUD 200
Paid up capital : AUD
200
How listed : Full List
Composition
Shareholder
name : YALGOO MINERALS PTY. LTD.
Address : Level 1, 1 Brodie-Hall
Drive
Bentley, WA 6102
Australia
No. of shares
: 200 Ordinary Shares
% of shares : 100%
RELATED COMPANIES & CORPORATE
AFFILIATIONS
Structure
Name : TRONOX LIMITED
Affiliation
type : Ultimate Holding Company
Address : One Stamford Plaza, Suite 1100
263 Tresser Boulevard
Stamford, CT 06901
United States
Name : YALGOO MINERALS PTY. LTD.
Affiliation
type : Parent Company
Address : Level 1, 1 Brodie-Hall Drive
Bentley, WA 6102
Australia
Name : TRONOX MINERAL SANDS (PTY) LTD
Affiliation
type : Sister Company
Address : 115 West Street
Sandton 2196
South Africa
Name : TRONOX PIGMENTS (HOLLAND) B.V.
Affiliation
type : Sister Company
Address : Professor Gerbrandyweg 2
3197 KK Botlek Rotterdam
Netherlands
Name : TRONOX PIGMENTS (SINGAPORE) PTE.
LTD.
Affiliation
type : Sister Company
Address : 51 Newton Road #20-07
Goldhill Plaza
Singapore 308900
Singapore
Related companies and corporate affiliations comments
Other
companies of the Tronox Group should be considered affiliates of the Subject.
Bank Details
Name of bank :
Westpac Banking
Corporation
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 : 31/12/12
Type of accounts : Full
audited
Currency : US
Dollar (USD)
Consolidation type : Group
Consolidated Group
Consolidated
Currency : US
Dollar (USD) US
Dollar (USD)
Denomination : (x1)
One (x1)
One
Date of financial year end : 31/12/12 31/12/11
Length of accounts : 12
months 11
months
Sale turnover
/ Income : 1,832,000,000
1,543,000,000
Gross profit :
264,000,000
439,000,000
Profit before
tax : 1,008,000,000
262,000,000
Net income : 1,133,000,000 242,000,000
Non current
assets : 3,338,000,000 888,000,000
Current assets
: 2,173,000,000
769,000,000
Inventories :
914,000,000 311,000,000
Total assets :
5,511,000,000 1,657,000,000
Current
liabilities : 467,000,000
281,000,000
Non current
liabilities :
2,162,000,000 624,000,000
Total
liabilities : 2,629,000,000
905,000,000
Share equity :
2,882,000,000
752,000,000
Retained
earning : 1,314,000,000
242,000,000
Comments : The group’s consolidated
financial information above relates to the Subject’s
Ultimate Holding Company Tronox Limited and all its subsidiaries
which include
the Subject.
Main
activities : The
Subject is the marketing arm of the Tronox Group operations in
Australia. The Subject markets ilmenite, zircon, rutile and
titanium dioxide
pigment for the Tronox Group.
The Subject is a wholly owned subsidiary of Tronox Limited.
Tronox Limited is a global chemical company involved in the
titanium
products industry. Following its acquisition of the mineral sands
business
formerly belonging to South Africa’s Exxaro Resources, Tronox is
the
third-largest titanium feedstock producer, with approximately 10%
of global
titanium ore production; and the second-largest producer of
zircon, with
approximately 20% of global production. The company also has an
electrolytic and speciality chemicals business that services the
paper and
battery industries. Formerly a part of the Kerr-McGee Chemical
Corporation
and based in Oklahoma City since it was spun off from its parent
in 2005,
the company announced in June 2012 that it was moving its
headquarters
to Stamford, Connecticut. Tronox Limited is listed under the New
York
Stock Exchange.
Purchases
Local : None
reported.
International
: None
reported.
Sales
Local : Yes
International
: Asia, Europe,
United States
Property &
Assets
Premises : The Subject operates
from premises located at the verified heading
address consisting of an 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%
Sales Term
Local : 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.54.39 |
|
UK Pound |
1 |
Rs.82.32 |
|
Euro |
1 |
Rs.69.54 |
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.