MIRA INFORM REPORT
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Report Date : |
27.05.2013 |
IDENTIFICATION DETAILS
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Name : |
HILLS HOLDINGS LIMITED |
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Formerly Known As : |
HILLS INDUSTRIES LIMITED |
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Registered Office : |
159 Port Road Hindmarsh
Australia 5007 |
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Country : |
Australia |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
27.06.1957 |
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Com. Reg. No.: |
007573417 |
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Legal Form : |
Australian Public Company |
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Line of Business : |
Import, manufacturing and distribution of electronics security and
communications, home and hardware and building and industrial product |
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No. of Employees : |
2,642 employees (Hills 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 : |
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
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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Australia |
A2 |
A2 |
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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, 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 |
IDENTIFICATION DETAILS
Verified Address
Subject name : HILLS
HOLDINGS LIMITED
Business address : 159 Port
Road
Town : Hindmarsh
Province : South
Australia
Zip/postal code : 5007
Country : Australia
Tel : +61
8 83013200
Fax : +61
8 83013290
Email : info@hillsholdings.com.au
Website : www.hillsholdings.com.au
Registered address : 159 Port
Road
Town : Hindmarsh
Province : South
Australia
Zip/postal code : 5007
Country : Australia
Comments : The provided address 10 Wiggs
Road, Riverwood, NSW 2210, Australia belongs to Subject's Antenna & TV
Systems divisional office.
SUMMARY DETAILS
Executive Summary
Date founded or registered : 27/06/1957
Legal form : Australian
Public Company
Chief executive : Edward
Noel Pretty
Issued & paid up capital : AUD
303,886,547.85
Sales turnover :
AUD 1,084,886,000 (Consolidated 12 months, 30/06/2012)
Net income :
AUD 28,822,000 (Consolidated 12 months, 30/06/2012)
Total fixed assets : AUD
648,477,000 (Consolidated 12 months, 30/06/2012)
Line of business :
Import, manufacturing
and distribution of electronics security and communications, home and hardware
and building and industrial products.
Staff employed : 2,642
employees (Hills Group)
CREDIT RISK OPINION
Company Analysis
Country risk : Country
risk is minimal
Operation trend : Operational
trend is steady
Management experience : Management
is adequately experienced
Financial performance : Financial
performance is very good
Organization structure : Organizational
structure is stable
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.
STATUTORY DETAILS
Registry Data
Registration date : 27/06/1957
Legal form : Australian
Public Company
Registration no Australian Company Number: 007573417
Registered authority : Australian
Securities and Investments Commission
Fiscal/ Tax no :
Australian Business Number: 35007573417
Registry status : Live/Active
Previous name : HILLS
INDUSTRIES LIMITED (initial)
Change of legal form : None
reported.
MANAGEMENT / DIRECTORS
Key Management
Name : Edward
Noel Pretty
Designation : Managing
Director
Name : Mike
McKinstry
Designation : Chief
Operating Officer
Name : Grant
Logan
Designation : Chief
Financial Officer
BOARD OF DIRECTORS/ OTHER APPOINTMENTS
Appointments
Name : Jennifer
Helen Hill-Ling
Designation : Director
Appointment date : 21/08/85
Address : 18
Larkin Street
Waverton, NSW 2060
Australia
Biography : Born
on 25/05/1962 in Adelaide, South Australia, Australia.
Ms. Jennifer Helen Hill-Ling, LLB (Adel),
FAICD, is Non-Executive Chairman of the Board of Hills Holdings Ltd. She was
appointed Director in August 1985, appointed Deputy Chairman in June 2004, and appointed Chairman
on 28 October 2005. Jennifer Hill-Ling has experience in corporate and
commercial law, specializing in corporate and business structuring, mergers and
acquisitions, joint ventures and related commercial transactions. She practiced
law for some 25 years and was a senior partner in two Sydney law firms in that
time.
She is also currently a director of MS
Limited, Hills Associates Limited and Hills Holdings NZ Limited and was
formerly a director of Tower Trust Limited. She is a fellow of the Australian
Institute of Company Directors.
Name : Ian
Elliot
Designation : Director
Appointment date : 01/08/03
Address : Unit
119, 6 Cowper Wharf Road
Woolloomooloo, NSW 2011
Australia
Biography : Born
on 30-12-1953 in Sydney, New South Wales, Australia.
Mr. Ian Elliot has been Independent
Non-Executive Director of Hills Holdings Ltd since August 2003. He is also
serving as Director ofSalmat Limited. Ian Elliot has spent 39 years in
marketing. Hispage speciality is brand building, with involvement in a number
of icon brands. Mr Elliot is a fellow of the Australian Institute of Company
Directors and graduate of the Harvard Business School Advanced Management
Program. In addition to his listed company directorships he was formerly
Chairman of Zenith Media Pty Ltd, Cordiant Communications Group, Allied Brands
Limited, Promentum Limited and Artist & Entertainment Group Limited and
Chairman and Chief Executive Officer (CEO) of George Patterson Advertising and
the National Australia Day Council. He is a current Director of the Australian
Rugby League Commission. He is Chairman of the Nomination Committee and Member
of the Remuneration Committeein the Company.
Name : Peter
William Stancliffe
Designation : Director
Appointment date : 01/08/03
Address : 114
Prince Alfred Parade
Newport, NSW 2106
Australia
Biography : Born
on 29-01-1948 in Melbourne, Victoria, Australia.
Mr. Peter William Stancliffe, BE (Civil),
FAICD, is Independent Non-Executive Director of Hills Holdings Ltd. Peter
Stancliffe has over 40 years' experience in the management of industrial companies
both in Australia and overseas and has held various senior management
positions, including Chief Executive Officer. He has experience in
strategy development and a detailed
knowledge of modern company management practices. Mr Stancliffe is a graduate
of the MIT Senior Management Program and the AICD Company Directors' Course. In
addition to his listed company directorships he is a director of Harris Scarfe
Pty Ltd.He is also serving as Chairman of Korvest Ltd, and
Director of Automotive Holdings Group
Limited. He used to serve as Chairman of View Resources Limited. He is Member
of the Nomination Committee in the Company.
Name : Fiona
Rosalyn Vivienne Bennett Designation : Director
Appointment date : 31/05/10
Address : 28
Wolseley Grove
Brighton, VIC 3186
Australia
Biography : Born
on 24-03-1956 in London, United Kingdom.
Ms. Fiona Rosalyn Vivienne Bennett, BA
(Hons), FCA, FAICD, FAIM, has been Independent Non-Executive Director of Hills
Holdings Ltd since May 31, 2010. She is also serving as Director of Boom
Logistics Limited. Fiona Bennett is a Chartered Accountant with over 30 years'
experience in business and financial management,
corporate governance , risk management and
audit. She has previously held senior executive positions at BHP Billiton
Limited and Coles Group Limited and has been a Chief Financial Officer at several organizations in the health sector.
Ms Bennett is a graduate of The Executive Program at the University of
Virginia's Darden Graduate School and the AICD Company Directors' course. She
is Chairman of the Audit, Risk and Compliance Committee in the Company.
Name : David
Moray Spence
Designation : Director
Appointment date : 01/09/10
Address : 17
Berrillee Street
Turramurra, NSW 2074
Australia
Biography : Born
on 20-01-1952 in Durban, South Africa.
Mr. David Moray Spence, BCom, CA (SA), is
Independent Non-Executive Director of Hills Holdings Ltd. He is also serving as
Chairman of Korvest Ltd, and Director of Automotive Holdings Group Limited.
David Spence has experience in a number of industries and
more recently in the technology and
communications industry. He has over 25 years of senior management experience,
including as Chief Financial Officer (CFO) of Freedom Furniture and OPSM, where
he also assumed responsibility for manufacturing and logistics. He has been
directly involved in many internet and communications
companies including the building of
Australia's first and dial up ISP, OzEmail. Mr Spence was the chief executive
officer of Unwired Australia until February 2010. He has been involved in a
number of listed and non-listed boards including WebCentral, uuNet, Access1, Emitch, Commander Communications,
Chaosmusic, ubowireless,
Vividwireless and is a past chairman of the
Internet Industry Association. He is currently a non-executive Director of AWA
Limited and of PayPal Australia Pty Ltd. He used to serve as Former Chairman of
View Resources Limited. He is Member of the Nomination Committee in the
Company.
Name : Matthew Arnold
Campbell
Designation : Director
Appointment date : 19/12/11
Address : 5
Jersey Place
Cromer, NSW 2099
Australia
Biography : Born
on 26-07-1954 in Yarram, Victoria, Australia.
Mr. Matthew Campbell has Group Executive Director
- Hills Home and Hardware of Hills Holdings Ltd since January 11, 2013. Matthew
Campbell has over thirty years' experience with retailers and wholesalers
within Australia and New Zealand. Appointments have included General Manager
Merchandise with The Warehouse (New
Zealand), executive roles with Rebel Sport
(General Manager Merchandise, General Manager Retail and Executive Group
General Manager of Supply Chain), Managing Director of Epic Records and Group
General Manager of Brashs. Mr Campbell has specialist experience in driving
sustainable growth through development and
execution of business strategy, cost
productivity and business 'turn around' programs. He is Member of the Audit,
Risk and Compliance Committee in the Company.
Name : Edward
Noel Pretty
Designation : Director
Appointment date : 03/09/12
Address : 14
Holdsworth Street
Woollahra, NSW 2025
Australia
Biography : Born
on 06-10-1957 in Darwin, Northern Territory, Australia.
Mr. Edward Noel Pretty has been serving as
Chief Executive Officer, Managing Director and Executive Director in Hills
Holdings Ltd since September 3, 2012. He is also serving as Non-Executive
Director of NextDC Limited. Mr Pretty is a business executive and director with
experience particularly in telecommunications and information technology
innovation and product development. He is Australian and New Zealand Advisory
Chairman of Tech Mahindra and Mahindra Satyam (part of the Indian headquartered
$14bn diversified Mahindra Group). He spent two years in the Middle East during
his tenure at Gulf Finance House as its Group Chief Executive Officer. Prior to
his time at Gulf Finance, Mr Pretty was Chairman of Fujitsu Australia Limited,
Chairman of the ASX listed RP Data Limited, an Executive Director at Macquarie
Capital Advisers and a member of the Visy Industries Advisory Board. Prior to
those roles, he was an Executive at Telstra Corporation Limited, in a number of
Group Managing Director positions including Technology Innovation and Product.
Mr Pretty has also served as an adviser to and director of Optus Communications
and Optus Vision and as a Partner at Media and Telecommunications Law Firm,
Gilbert & Tobin prior to joining Telstra.
Name : Gai
Lynne Shirley Stephens
Designation : Company
Secretary
Appointment date : 18/12/12
Address : 35
Anzac Avenue
Collaroy, NSW 2097
Australia
Biography : Born
on 18-02-1962 in Sydney, New South Wales, Australia.
Ms. Gai Stephens serves as Company Secretary
of Hills Holdings Ltd since December 18, 2012. She was General Counsel/Company
Secretary of Luxottica Australia (formerly OPSM).
Staff employed : 2,642
employees (Hill s Group)
Key Advisors
Auditors : KPMG
115 Grenfell Street
Adelaide, SA 5000
Australia
SHARE CAPITAL
Composition
Authorized Capital : AUD 303,886,547.85
No of shares : 246,500,444
Ordinary Shares
Share par value : No par
value
Issued capital : AUD
303,886,547.85
Paid up capital : AUD
303,886,547.85
OWNERSHIP / SHAREHOLDERS
How listed : Major
Shareholders Only
Composition
Shareholder name : RBC
INVESTOR SERVICES AUSTRALIA NOMINEES PTY LIMITED
Address : Level
17, 2 Park Street
Sydney, NSW 2000
Australia
% of shares : 8.71%
Shareholder name : POPLAR
PROPRIETARY LIMITED
Address : Adelaide,
SA 5000
Australia
% of shares : 8.23%
Shareholder name : HILLS
ASSOCIATES LIMITED
Address : 159
Port Road
Hindmarsh, SA 5007
Australia
% of shares : 5.86%
Shareholder name : NATIONAL
NOMINEES LIMITED
Address : Level
4 (UB 4440)
800 Bourke Street
Docklands, VIC 3008
Australia
% of shares : 5.46%
Shareholder name : J.P.
MORGAN NOMINEES AUSTRALIA LIMITED
Address : Level
32, 225 George Street
Sydney, NSW 2000
Australia
% of shares : 4.08%
Comments : The Subject
is listed on the Australian Securities Exchange since 30 June, 1962.
RELATED COMPANIES &
CORPORATE AFFILIATIONS
Structure
Name : HILLS
FINANCE PTY. LTD.
Affiliation type : Wholly-owned
Subsidiary
Address : 159
Port Road
Hindmarsh, SA 5007
Australia
Name : FIELDERS
AUSTRALIA PTY LTD
Affiliation type : Wholly-owned
Subsidiary
Address : 213
Railway Terrace
Keswick Terminal, SA 5035
Australia
Name : ACCESS
TELEVISION SERVICES PTY. LTD.
Affiliation type : Wholly-owned Subsidiary
Address : Level
3, Austar Building
35 Robina Town Centre Drive
Robina, QLD 4226
Australia
Name : ORRCON
HOLDINGS PTY LTD
Affiliation type : Wholly-owned Subsidiary
Address : 121
Evans Road
Salisbury, QLD 4107
Australia
Name : ORRCON
OPERATIONS PTY LTD
Affiliation type : Wholly-owned Subsidiary
Address : 121
Evans Road
Salisbury, QLD 4107
Australia
Related companies and corporate affiliations comments : Other companies
of the Hills Group should be considered affiliates of the Subject.
BANK & MORTGAGES
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.
FINANCIAL DATA
Description
Source of financial statement : Public
Record Sources
Financial statement date : 30/06/12
Type of accounts : Full audited
Currency : Australia
Dollar (AUD)
Exchange rate : 1
USD = AUD 1.03 as of 23-05-2013
Summarized
Financial Information
Consolidation type : Consolidated
Consolidated Consolidated
Currency : Australia
Dollar (AUD) Australia Dollar (AUD) Australia Dollar (AUD)
Denomination :
(x1) One (x1) One (x1) One
Date of financial year end : 31/12/12
30/06/12 0/06/11
Length of accounts : 6
months 12 months 12 months
Sale turnover / Income : 552,190,000
1,084,886,000 1,097,001,000
Profit before tax : -96,875,000
38,949,000 -78,489,000
Net income : -71,994,000
28,822,000 -73,116,000
Non current assets : 237,880,000
275,378,000 277,740,000
Current assets :
348,287,000 373,099,000 361,901,000
Inventories : 143,695,000
165,287,000 167,999,000
Total assets : 586,167,000
648,477,000 639,641,000
Current liabilities : 144,230,000
122,903,000 137,229,000
Non current liabilities : 132,335,000
124,611,000 100,105,000
Total liabilities : 276,565,000
247,514,000 237,334,000
Share equity : 309,602,000 400,963,000 402,307,000
Reserve : 38,145,000
43,203,000 57,245,000
Retained earning :
-50,016,000 35,896,000 21,504,000
Comments : The consolidated
financial information above relates to the Subject and its subsidiaries.
OPERATION DETAILS
Main activities : The Subject engages in
import, manufacturing and distribution of electronics security and
communications, home and hardware and building and industrial products in
Australia and internationally.
The Subject
conducts its business operations in three business segments:
electronic security and entertainment
segment, home and hardware segment, and building and industrial segment.
Electronic Security and Entertainment
Segment The electronic security and entertainment segment comprises Hills
Electronic Security and the Hills Antenna & TV Systems business. This
segment markets electronic security products ranging from simple domestic alarm
systems to complex integrated surveillance and access control systems. The
company offers electronic security
communications related products and services, such as domestic and
Entertainment and commercial antennas, master antenna television systems,
communications antennas, amplifiers, electronic security systems, closed
circuit television systems, home automation systems and fibre optic
transmission solutions.
Hills Electronic Security:
The company’s hills electronic security
business unit markets electronic security products ranging from simple domestic
alarm systems to complex integrated surveillance and access control systems.
Hills Antenna & TV Systems:
The company’s Hills Antenna & TV Systems
business unit provides reception and distribution equipment for the Pay TV,
free to air television and wireless voice and data markets. This business unit
is the major supplier of signal reception equipment to the Pay TV industry.
Its Hills Signal Master business in New
Zealand offers both equipment supply and the installation of Sky Television
services.
Home and Hardware Segment
The home and hardware segment engages in the
manufacture and distribution of metal based branded products to consumers,
trade customers and government utilities. The home and hardware segment offers
home and hardware outdoor clothes driers, ladders, ironing boards, laundry
trolleys, security doors, playtime equipment, garden sprayers, wheelbarrows,
Do-It-Yourself woodworking equipment, and rehabilitation and mobility products.
The segments major market brands include Hills, Bailey, Oldfields Ladders,
Kelso, and Triton.
Building and Industrial Segment
The company, through its building and
industrial segment, offers building and industrial structural, precision and
steel tubing, galvanizing, precision metal cabinets, office storage systems,
stainless steel products, steel door frames, roll-formed metal building
products, carports, cable and pipe support systems, and shed systems.
The building and industrial segment consists
of Orrcon, Fielders and Woodroffe Equipment. Orrcon: The company’s Orrcon
business unit engages in the manufacture and distribution of steel tube and
piping. With manufacturing plants in South Australia, Queensland and the Large
Pipe and Tube Mill in Wollongong the company is able to service all segments of
the market nationally. Fielders: The company’s fielders business unit engages
in the manufacture and distribution of
roll-formed metal building products, such as roof and gutter material,
downpipes, steel flooring systems, carports, sheds, and purlins, for the commercial
and domestic building industries throughout Australia.
The Subject, formerly known as Hills
Industries Limited, is based in Hindmarsh, Australia.
Product & services : -
Electronic security products: Domestic alarm systems, integrated
surveillance systems, IP network and
security solutions
- Electronic communication products:
Television reception and distribution
equipment, satellite communication systems
- Audiovisual and lighting products
- Building products
- Steel tubes and pipes
- Lifestyle products: Clotheslines, laundry,
ironing boards, garden sprayers,
raised garden beds, gutter protection,
screen doors, play gyms, hand trolleys, and ladders.
Brand : HILLS
BAILEY
OLDFIELDS LADDERS
KELSO
TRITON
Purchases
International : Worldwide
Sales
Local : Yes
International : South
Africa, Japan, India, United States, Europe, New Zealand, United
Kingdom
Key events : April
22, 2013
Hills Holdings Still Mulls Buyer For Its
Industrial Building Products Businesses
Hills Holdings Limited (ASX:HIL) is still
seeking buyer for its industrial building products businesses. But two of its
business Orrcon Operations Pty Ltd. and Fielders Australia Pty Ltd. are now at
the information memorandum (IM) stage with Lazard engaged to handle the
process. A local buyer could find the assets attractive and top of the list of
public company buyers is Fletcher Building Ltd.
Source: Businessweek
18 February, 2013
Hills Holdings Ltd:Korvest Sell Down Hills
Holdings Limited (ASX: "HIL") today announced it has sold down its
Entire 47.8% interest in Korvest Limited (ASX: KOV) at $6.50 per share to a
variety of institutional as well as professional and sophisticated investors
The price is at a 7% discount to the 3 month VWAP. Hills will derive net
proceeds of approximately $26m from the sale.
Consistent with Hills' announcement at its
Annual General Meeting in November 2012, the Company is reviewing its other
Legacy Steel Assets, Fielders and Orrcon. Lazard has been retained by Hills to
advise the Company on the Group's options, which may include the sale, joint
venture and/or restructure of these Legacy Steel Assets.
Hills' intends to use the net proceeds of
the Korvest sell down to reduce existing debt levels, which in turn will
provide the Company with greater flexibility for capital management and
acquisitions.
Source: www.reuters.com
20 January, 2013
Hills Holdings Ltd Announces Sale Of Hills
Healthcare Equipment business
To K Care Pty Limited
Hills Holdings Ltd announced that it had entered
into an agreement to sell
its wholly-owned Hills Healthcare Equipment
business to K Care Pty Limited, owned by the management team and Sydney-based
private equity firm, Anacacia Capital. The sale, for an undisclosed amount, is
not material
to the sales and earnings of the Hills
Holdings Group. Perth-based Hills
Healthcare Equipment is part of Hills
Holdings broader Lifestyle & Sustainability division which includes a
diverse array of businesses and produces numerous iconic Hills branded
products.
Source: www.reuters.com
12 August, 2012
Hills Holdings Ltd Acquires Lan1 Hills
Holdings Ltd announced that it had reached agreement to buy Lan1. Lan1 is a
solutions provider of IP Storage, IP Networking, IP Security and IP CCTV and
Access Controls. The transaction is subject to a number of pre conditions and
is expected to settle in October 2012.
Source: www.reuters.com
Property &
Assets
Premises :
The Subject operates from premises at the verified heading address consisting
of an administrative office.
Branches : In addition, the
Subject operates from business units located throughout Australia.
SUMMARIZED COUNTRY RISK
Gross Domestic
Products (GDP) & Economic Overview
Central bank : Reserve
Bank of Australia
Reserve of foreign exchange & gold : US$ 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 : 2008: 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
International :
L/C, Prepayment, Telegraphic transfer, Credit 30-120 days
Sales Term
Local : Prepayment,
Bank transfer, Credit 30-120 days
International :
L/C, Prepayment, Telegraphic transfer, 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.55.61 |
|
|
1 |
Rs.83.98 |
|
Euro |
1 |
Rs.71.94 |
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.