|
Report Date : |
02.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
PT RESOURCES PTY LTD |
|
|
|
|
Formerly Known As : |
GREAT HARVEST RESOURCE PTY LTD (initial) |
|
|
|
|
Registered Office : |
C/o MACRI PARTNERS,
Suite 2, 137 Burswood Road Burswood Western Australia 6100 |
|
|
|
|
Country : |
Australia |
|
|
|
|
Date of Incorporation : |
29.11.1996 |
|
|
|
|
Com. Reg. No.: |
076315823 |
|
|
|
|
Legal Form : |
Australian Proprietary Company |
|
|
|
|
Line of Business : |
Import and export of iron ore. |
|
|
|
|
No. of Employees : |
7 employees |
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 – 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, 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 : PT
RESOURCES PTY LTD
Business address : Suite 4,
Level 4, South Shore Centre
83-85 South Perth
Esplanade
Town : South
Perth
Province : Western
Australia
Zip/postal code : 6151
Country : Australia
Tel : +61
8 93631100
Fax : +61
8 93672952
Email : chenqiang@ptgroup.com.au
Website : www.ptgroup.com.cn
Registered address : C/o MACRI
PARTNERS
Suite 2, 137
Burswood Road
Town : Burswood
Province : Western
Australia
Zip/postal code : 6100
Country : Australia
Comments : The provided address Suite 13,
77 Mill Point Road, South Perth, WA 6151, Australia is an old address of the
Subject.
Executive Summary
Date founded or registered : 29/11/1996
Legal form : Australian
Proprietary Company
Chief executive : Chen
Qiang
Issued & paid up capital : AUD
200
Sales turnover : USD
400,000,000 (Estimated Non-Consolidated 12 months, 30/06/2013)
Line of business :
Import and export of iron ore.
Staff employed : 7
employees
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
Credit amount asked : Not
described.
Registry Data
Registration date : 29/11/1996
Legal form : Australian
Proprietary Company
Registration no Australian Company Number: 076315823
Registered authority : Australian
Securities and Investments Commission
Fiscal/ Tax no : Australian Business Number: 64076315823
Registry status : Live/Active
Previous name : GREAT
HARVEST RESOURCE PTY LTD (initial)
Change of legal form : None
reported.
Key Management
Name : Chen
Qiang
Designation : Managing
Director
Appointments
Name : Weifeng
Qin
Designation : Director
Appointment date : 01/06/07
Address : Suite
3-902, Building No. 29
Sheng Gu Bei Li
Chaoyang District
Beijing 100029
China
Biography : Born
on 09-05-1971 in Shaanxi, China.
Name : Qing
Wang
Designation : Director
Appointment date : 01/06/07
Address : 15A
Ryrie Avenue
Como, WA 6152
Australia
Biography : Born
on 21-11-1967 in Hubei, China.
Name : Chen
Qiang
Designation : Director
Appointment date : 29/11/96
Address : 67
Hobbs Avenue
Dalkeith, WA 6009
Australia
Biography : Born
on 07-04-1962 in Beijing, China.
Name : Xu Jian
Designation : Director
Appointment date : 10/08/04
Address : 5
Rob Roy Street
Swanbourne, WA 6010
Australia
Biography : Born
on 14-10-1964 in Shandong, China.
Name :
Ping Tian
Designation : Company
Secretary
Appointment date : 01/06/07
Address : 67
Hobbs Avenue
Dalkeith, WA 6009
Australia
Biography : Born
on 09-03-1960 in Beijing, China.
Staff employed : 7
employees
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 : Chen Qiang
Address : 67
Hobbs Avenue
Dalkeith, WA 6009
Australia
No. of shares : 87
Ordinary Shares
Shareholder name : Xu Jian
Address : 5
Rob Roy Street
Swanbourne, WA
6010
Australia
No. of shares : 73
Ordinary Shares
Shareholder name : Qing Wang
Address : 15A
Ryrie Avenue
Como, WA 6152
Australia
No. of shares : 20
Ordinary Shares
Shareholder name : Weifeng
Qin
Address : Suite
3-902, Building No. 29
Sheng Gu Bei Li
Chaoyang District
Beijing 100029
China
No. of shares : 20
Ordinary Shares
Structure
Name : BROWNSTONE
INTERNATIONAL PTY LTD
Affiliation type : Subsidiary
Address : Suite
4, Level 4, South Shore Centre
83-85 South Perth Esplanade
South Perth, WA 6151
Australia
Comments : Provides
logistics services.
Name : PT
RESOURCES (HONG KONG) LIMITED
Affiliation type : Associate
Address : Hong
Kong
Bank Details
Name of bank : Bank
of China Australia
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 : Provided
by the Subject
Financial statement date : 30/06/13
Type of accounts : Estimated
key figures
Currency : US
Dollar (USD)
Consolidation type : Non
Consolidated
Currency : US
Dollar (USD)
Denomination : (x1)
One
Date of financial year end : 30/06/13
Length of accounts : 12
months
Sale turnover / Income : 400,000,000
Comments : The
estimated turnover was provided by Mr. James Lim.
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 leasttwo of the following:
- The consolidated revenue for the financial
year of the company and any entitiesit 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 $12.5 million, and
-The company and any entities it controls
have fewer than 50 employees at the end of the financial year.
Main activities : The Subject engages in
import and export of iron ore mainly sourced from Australia and India.
Purchases
Local : Yes
International : India, Malaysia
Sales
Local : None
reported.
International : China
Property &
Assets
Premises : The Subject operates from
premises at the verified heading address consisting of an administrative
office.
Branches : None reported.
Gross Domestic
Products (GDP) & Economic Overview
Central bank : Reserve Bank of
Australia
Reserve of foreign exchange & gold : US$ 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 &
Gaming), 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%
Purchase Term
Local : Bank transfer,
D/P, D/A, Credit 30-120 days
International : L/C, Telegraphic
transfer, D/P, D/A, Credit 30-120 days
Sales Term
International : L/C, Telegraphic
transfer, D/P, D/A, 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.66.57 |
|
|
1 |
Rs.103.34 |
|
Euro |
1 |
Rs.88.16 |
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.