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Report Date : |
16.10.2013 |
IDENTIFICATION DETAILS
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Name : |
BRIGHANN COTTON MARKETING PTY LTD |
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Formerly Known As : |
BRIGHAN MARKETING PTY LTD |
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Registered Office : |
C/O C & W Partners, 22 Bridge Street, Moree, New South Wales, Zip/Postal Code 2400 |
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Country : |
Australia |
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Date of Incorporation : |
09.04.2010 |
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Com. Reg. No.: |
143025307 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
ginning, marketing, warehousing and
shipping of cotton |
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No. of Employees : |
70 |
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 : |
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 – March 31st 2013
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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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, 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 : BRIGHANN COTTON MARKETING PTY LTD
Business
address : Watercourse Road
Town : Moree
Province : New South Wales
Zip/postal
code : 2400
Country : Australia
Tel : +61 2 67533706
Fax : +61 2 67533701
Email : marketing@brighann.com.au
Website : www.brighann.com.au
Registered
address : C/o C & W PARTNERS
22 Bridge Street
Town : Moree
Province : New South Wales
Zip/postal
code : 2400
Country : Australia
Executive Summary
Date founded
or registered : 09/04/2010
Legal form : Australian
Proprietary Company
Chief
executive : Ian
Duncan Christopher McDonald
Issued &
paid up capital : AUD
7,000,313.83
Line of
business : Farming,
ginning, shipping & marketing of cotton.
Staff employed
: 70 employees
Company Analysis
Country risk :
Country risk
is minimal
Operation
trend : Operational
trend is steady
Management
experience : Management is
modestly experienced
Financial
performance : Financial
performance is undetermined
Organization
structure : Organizational
structure is stable
Detrimental : No
detrimental found
Payment
history : No payment
delays noted
Registry Data
Registration
date : 09/04/2010
Legal form : Australian
Proprietary Company
Registration
no Australian
Company Number: 143025307
Registered
authority : Australian
Securities and Investments Commission
Fiscal/ Tax no
: Australian
Business Number: 57143025307
Registry
status : Live/Active
Previous name
: BRIGHAN MARKETING
PTY LTD (initial)
Change of
legal form : None reported.
Key Management
Name : Ian Duncan Christopher McDonald
Designation : General Manager
Name : John Kerlin
Designation : Financial Manager
Appointments
Name : Ian Duncan Christopher
McDonald
Designation : Director
Appointment
date : 09/04/10
Address : "Sorrento",
Collarenebri Road
Moree, NSW 2400
Australia
Biography : Born on 07/08/1971 in
Brisbane, Queensland, Australia.
Name : Ada Seery
Designation : Director and Company Secretary
Appointment
date : 09/04/10
Address : Lot 12 Kooroogama Road
Moree, NSW 2400
Australia
Biography : Born on 09/07/1942 in Sydney,
New South Wales, Australia.
Name : Ian John Seery
Designation : Director
Appointment
date : 09/04/10
Address : 'Ridgewood', Watercourse
Road
Moree, NSW 2400
Australia
Biography : Born on 21/12/1965 in Moree,
New South Wales, Australia.
Name : Michael William Seery
Designation : Director
Appointment
date : 09/04/10
Address : 7 Callaille Avenue
Moree, NSW 2400
Australia
Biography : Born on 28/09/1971 in Moree,
New South Wales, Australia.
Name : Stephen Paul Seery
Designation : Director
Appointment date : 09/04/10
Address : 'Terrawynia', Collarenebri
Road
Moree,
NSW 2400
Australia
Biography : Born on 04/06/1968 in Moree,
New South Wales, Australia.
Name : William John Seery
Designation : Director and Company Secretary
Appointment date : 09/04/10
Address : Lot 12 Kooroogama Road
Moree,
NSW 2400
Australia
Biography : Born on 27/12/1940 in Sydney,
New South Wales, Australia.
Staff employed : 70 employees
Composition
Authorized
Capital : AUD 7,000,313.83
No of shares :
10,000,000 Ordinary Shares
Share par
value : No par value
Issued capital
: AUD 7,000,313.83
Paid up
capital : AUD 7,000,313.83
How listed : Full List
Composition
Shareholder
name : Ian Duncan Christopher
McDonald
Address : "Sorrento",
Collarenebri Road
Moree, NSW 2400
Australia
No. of shares
: 500,000 Ordinary Shares
Shareholder
name : Ada Seery
Address : Lot 12 Kooroogama Road
Moree, NSW 2400
Australia
No. of shares
: 2,500,000 Ordinary Shares
Shareholder
name : Ian John Seery
Address : 'Ridgewood', Watercourse
Road
Moree, NSW 2400
Australia
No. of shares
: 1,500,000 Ordinary Shares
Shareholder
name : Michael William Seery
Address : 7 Callaille Avenue
Moree, NSW 2400
Australia
No. of shares
: 1,500,000 Ordinary Shares
Shareholder
name : Stephen Paul Seery
Address : 'Terrawynia', Collarenebri
Road
Moree, NSW 2400
Australia
No. of shares
: 1,500,000 Ordinary Shares
Shareholder
name : William John Seery
Address : Lot 12, Kooroogama Road
Moree, NSW 2400
Australia
Structure
Related
companies and corporate affiliations comments
: None
reported.
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 : The representative contacted declined
to provide any financial information until
the inquiring party details are revealed.
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.
Main
activities : The
Subject is engaged in ginning, marketing, warehousing and shipping of cotton.
Product &
services : Farming
The Subject's farm (Seery Farm) produces crops in the Gwydir and
MacIntyre Valleys of inland New South Wales and Queensland and a
cotton ginning facility in the Gwydir Valley.
Ginning
The ginning facility provides cotton lint output for Seery Farms,
Grower
Clients and for the Mill End-User.
Warehousing
The Subject operates a warehouse facility which is part of the
Brighann Gin
complex. The warehouse is predominantly used to support storage of
cotton.
Marketing
The Subject markets its own cotton and cotton purchased from other
growers.
Shipping
The Subject manages its logistics in-house which includes includes
export
documentation, inland freight, ocean freight, and delivery to
final
destination.
This final (in-house) management and control of the shipping leg;
enables
the Subject's Cotton Marketing Team to control the product from
the initial
planting of the seed, right through to the delivery of lint bales
to Mills
anywhere in the world.
Purchases
Local : Yes
International
: None reported.
Sales
Local : None reported.
International
: China, Thailand, Japan,
Indonesia
Key events : June 18, 2013
FAMILY-BASED Moree business Brighann Cotton Marketing is going so
well with exports to China that it has put on extra staff, general
manager
Ian McDonald said.
The cotton ginning and marketing company owned by the Seery family
has
reported significant export sales in China following assistance
from the
NSW Government via the Global Growth Program run by NSW Trade
&
Investment.
Brighann Cotton has been involved with the program for the past
two years
- and has put on seven extra staff, mostly in the past few years.
Mr McDonald said 90 per cent of their exports went to China, with
the rest
going to Thailand and Indonesia.
"We've been exporting cotton for the past seven years; it's a
standalone
business off the gin but the gin helps support the
infrastructure," he said.
Things were going so well the company had even opened an office in
Beijing three years ago, staffed by two people.
"Our main interest is in China... over time, it's developed
and, with the
bigger crops, we've been able to have a larger turnover," Mr
McDonald
said.
He praised then-employee Chris Celovic, based at Tamworth, for
getting
them into the Global Growth Program.
"He showed us that there were many opportunities available
for exporters;
he showed us how to access those funds," Mr McDonald said. He
said the
program had been "useful, definitely".
Mr McDonald said he was proud to be associated with the Seery
family
farm and the cotton ginning and marketing businesses.
"They own the farms as well so it's basically vertical
integration for those
guys... We are the only truly
Australian-owned and operated cotton merchant," he said.
They were able to employ more people in Moree on the farm because
the
cotton was being packed there, not being trucked to port then
packed.
"We've been able to localise everything - instead of the
cotton coming into
the gin and having to be moved after seven days off the gin pad
[like many
other companies who use gins they don't own]. We can just keep it
here at
Moree and coordinate our logistics from here... there are
efficiencies and
jobs here for documentation staff, for example. So it value-adds
it out
here," he said.
Deputy premier and minister for Trade & Investment Andrew
Stoner said
NSW Trade & Investment had worked extensively with the company
to
develop its China strategy and establish a marketing and
management
facility in China.
"The NSW Government is committed to building strong working
relationships with the private sector and provides a range of
support for
new and established exporters across the state," Mr Stoner
said.
Member for Barwon Kevin Humphries congratulated the company for
its
ongoing success.
"The NSW Government provided funding which allowed the
company to
bring Chinese milling buyers to NSW to see production and
understand the
Australian cotton-ginning process," Mr Humphries said.
"The funding also supported website translation, marketing
materials and
engagement of a consultant to help the company access trade
finance and
identify Chinese cottonmilling companies to bring to Australia for
incentive
buying.
"The NSW Government's support has helped Brighann Ginning and
Marketing maximise the operating performance of their investments
offshore and develop supply chains from Moree to China to take
advantage
of free-trade zones in Chinese ports.
"A NSW Trade & Investment export adviser worked
extensively with the
company to develop their export readiness skills utilising his
extensive
experience in the China market to realise the export
outcome."
Mr Stoner said the NSW Government would continue to work closely
with
businesses around the state to provide export assistance,
opportunities to
visit target markets and help companies expand internationally.
Source: Northern Daily Leader
Property &
Assets
Premises : The Subject operates from the
verified heading address consisting of a
warehouse, cotton production facility and administrative
office.
Branches : In addition the Subject
operates from the following farming office located at:
Kooroogamma Road
Moree, NSW 2400
Australia
Tel: +61 2 67523899
Other property
: Warehousing facility has
capacity for:
- Cotton Lint - 60,000 Bales.
- uzzy Cotton seed - 14,000 MT.
Gross Domestic
Products (GDP) & Economic Overview
Central bank :
Reserve
Bank of Australia
Reserve of
foreign exchange & gold : US$
46.714 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 : 2010:
2.8%
2011: 3.4%
2012: 2.7%
Unemployment
rate : 2010:
5.2%
2011: 5.1%
2012: 5.2%
Public debt
(General
Government gross debt as
a % GDP) 2010:
20.4%
2011: 22.9%
2012: 24%
Government
bond ratings : Standard
& Poor's: AAA
Moody's rating: Aaa
Moody's outlook: STA
Market value
of publicly traded shares : US$1.198
trillion
Largest
companies in the country : Qantas
Airways (Airline),Coca-Cola Amatil (Beverages), CSL (Biotechs),
Brambles (Business & Personal
Services),Crown Ltd (Casinos &
aming), Amcor (Containers & Packaging),Suncorp-Metway (Diversified
Insurance), BHP Billiton (Diversified Metals & Mining),Newcrest Mining
(Diversified Metals & Mining), Orica (Diversified Metals & Mining),
Iluka Resources (Diversified Metals & Mining), Origin Energy (Electric
Utilities), AGL Energy (Electric Utilities), Wesfarmers (Food Retail),
Woolworths (Food Retail), Metcash (Food Retail), Macquarie Group (Investment
services), AMP (Investment services), Challenger Ltd (Investment services),
Fortescue Metals Group (Iron & Steel), Bluescope Steel (Iron & Steel),
Commonwealth Bank (Major Banks), Westpac Banking Group (Major Banks), National
Australia Bank (Major Banks), ANZ (Major Banks), Woodside Petroleum (Oil &
Gas Operations), Santos (Oil & Gas Operations), Caltex Australia (Oil &
Gas Operations), WorleyParsons (Oil Services & Equipment), Toll Holdings
(Other Transportation), Transurban Group (Other Transportation), QBE Insurance
Group (Property & Casualty Insurance), Insurance Australia Group (Property
& Casualty Insurance), QR National (Railroads), Westfield Group (Real
Estate), Stockland Australia (Real Estate), Westfield Retail Trust (Real
Estate), Lend Lease (Real Estate), CFS Retail Property Trust (Real Estate),
Goodman Group (Real Estate), Bendigo & Adelaide Bank (Regional Banks), Bank
of Queensland (Regional Banks), Incitec Pivot (Specialized Chemicals), Telstra
(Telecommunications Services)
Trade &
Competitiveness Overview
Total exports
: US$263.9 billion
Exports
commodities : Coal, iron ore,
gold, meat, wool, alumina, wheat, machinery and transport
equipment
Total imports
: US$239.7
billion
Imports
commodities : Machinery and
transport equipment, computers and office machines,
telecommunication equipment and parts; crude oil and
petroleum products
Export - major
partners : China 27.4%, Japan
19.2%, South Korea 8.9%, India 5.8%
Import - major
partners : China 18.5%, US
11.4%, Japan 7.9%, Singapore 6.3%, Germany 4.7%
FDI Inflows : 2009: US$26,554
million
2010: US$35,556 million
2011: US$41,317 million
FDI Outflows :
2009: US$16,693
million
2010: US$12,791 million
2011: US$19,999 million
Best countries
for doing business : 10 out of 185 countries
Global
competitiveness ranking : 20 (ranking by country on a basis of 144, the first
is the best)
Country and
Population Overview
Total
population : 22.68
million
Total area : 7,692,024 km2
Capital : Canberra
Currency : Australian
dollars (AUD)
Internet users
as % of total
Population 79%
PAY
Purchase Term
Local : Bank
transfer, D/P, Credit 30-90 days
Sales Term
International
: L/C,
Telegraphic transfer, D/P, 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
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
NT HISTORY
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.69 |
|
UK Pound |
1 |
Rs.98.59 |
|
Euro |
1 |
Rs.83.67 |
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 |
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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.