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Report Date : |
21.09.2013 |
IDENTIFICATION DETAILS
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Name : |
ENERGY MATTERS PTY LTD |
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Formerly Known as: |
APOLLO ENERGY PTY LTD |
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Registered Office : |
359-361 City
Road, Southbank, Victoria, Zip/postal code 3006 |
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Country : |
Australia |
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Financials (as on) : |
30.06.2012 (Non - Consolidated) |
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Date of Incorporation : |
31.01.2006 |
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Com. Reg. No.: |
118108044 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Subject engages in import, distribution and installation of solar energy related products |
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No. of Employees : |
90 employees (Subject) |
RATING & COMMENTS
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MIRA’s Rating : |
B |
|
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
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Australia |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 :
ENERGY MATTERS
PTY LTD
Business
address : 359-361 City
Road
Town : Southbank
Province : Victoria
Zip/postal
code : 3006
Country : Australia
Tel : +61 3 86085051
Fax : +61 3
96971919
Email : info@energymatters.com.au
Website : www.energymatters.com.au
Registered
address : 359-361 City
Road
Town : Southbank
Province : Victoria
Zip/postal
code : 3006
Country : Australia
Postal address
: P.O. Box 5265
Town : South Melbourne
Province : Victoria
Zip/postal
code : 3205
Country : Australia
Executive Summary
Date founded or registered
: 31/01/2006
Legal form : Australian
Proprietary Company
Chief executive : Jeremy John Rich
Issued & paid up
capital : AUD 751,080
Sales turnover : AUD 88,294,033
(Non-Consolidated 12 months, 30/06/2012)
Net income : AUD 1,754,982
(Non-Consolidated 12 months, 30/06/2012)
Total fixed assets : AUD 19,833,874
(Non-Consolidated 12 months, 30/06/2012)
Line of business : Import, distribution and
installation of solar energy related products.
Staff employed : 90 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 fair
Organization
structure : Organizational
structure is stable
Detrimental : No
detrimental found
Payment
history : No payment
delays noted
Registry Data
Registration
date : 31/01/2006
Legal form : Australian
Proprietary Company
Registration
no Australian
Company Number: 118108044
Registered
authority : Australian
Securities and Investments Commission
Fiscal/ Tax no
: Australian
Business Number: 45118108044
Registry
status : Live/Active
Previous name
: APOLLO ENERGY PTY
LTD
ENERGY=MC2 PTY. LTD. (initial)
Change of
legal form : None reported.
Key Management
Name : Jeremy John
Rich
Designation : Chief Executive
Officer
Name : Kenny Lee
Designation : Chief Financial
Officer
Name : Max
Sylvester
Designation : General Manager -
Innovations
Name : Nicholas William
Brass
Designation : General Manager -
Retail Sales
Appointments
Name : Max Sylvester
Designation : Director
Appointment
date : 31/01/06
Address : 86 Benjamin Street
Sunshine, VIC 3020
Australia
Biography : Born on 29-06-1977 in Berlin,
Germany.
Max Sylvester has a Bachelor of Information Systems and a Bachelor
of Science (Mathematics - Operations Research). He is the guru
behind the company’s website, which sees 220,000 visitors a month
and is consistently at the top of search engines for solar
industry
related topics. As General Manager of Innovation, Max oversees the
product and web development teams which keeps the Subject at the
forefront of renewable energy technology and online systems.
Name : Philip Brass
Designation : Director
Appointment
date : 16/12/10
Address : 8 Bromley Court
Toorak, VIC 3142
Australia
Biography : Born on 15-12-1947 in Sydney,
New South Wales, Australia.
A General Manager at the age of 25, Philip Brass has held many
executive positions. He was appointed to the Board of Pacific
Dunlop
at the age of 33, the youngest Director in the company’s history.
With vast experience across multiple industry sectors, Mr Brass
provides valuable business insights, strategic advice and
direction to
the executive team at Energy Matters and sits on the board of
directors.
Name : Nicholas William Brass
Designation : Director
Appointment
date : 31/01/06
Address : 13 Sherwood Street
Richmond, VIC 3121
Australia
Biography : Born on 19-06-1979 in
Melbourne, Victoria, Australia.
Nick began his working life as an entrepreneur passionate about
providing sustainable solutions to Australians and has worked for
Sustainability Victoria and CoolNRG in the US. Nick drives a sales
focus, providing product knowledge and inspiration to Energy
Matters'
national service centre based in Melbourne as well as sales staff
in
branches throughout Australia. Nick also manages the Marketing
team.
Name : Jeremy John Rich
Designation : Director
Appointment
date : 31/01/06
Address : 2 Marine Parade
St Kilda, VIC 3182
Australia
Biography : Born on 08-08-1978 in
Melbourne, Victoria, Australia.
Jeremy Rich holds a Bachelor of Commerce and a Bachelor of
Information Systems - Major in Actuarial Studies and his strengths
are financial mathematics, corporate finance and information
systems. In 2010 he was announced a nominee for Ernst & Young
Entrepreneur of the Year. Jeremy is actively involved in all
facets of
the business, from sales and marketing to supply chain. He is the
face of the business and has become a charismatic and outspoken
voice of the solar industry.
Name : George Pappas
Designation : Director
Appointment
date : 28/04/08
Address : 4 Yarra Grove
Hawthorn, VIC 3122
Australia
Biography : Born on 11-06-1946 in Rhodes,
Greece.
George is a Senior Advisor of The Boston Consulting Group (BCG)
having retired as a Senior Vice President in June 2002. His
commercial experience has been developed over 30 years from
strategy consulting work for the largest companies in the United
States, Japan, Asia and Australia. George is the Chairman of the
Committee for Melbourne, Chancellor of Victoria University, a
Director of the Western Bulldogs Football Club (since 2001), and
Commodore of the Point Leo Boat Club.
Name : James Duncan Walker
Designation : Director
Appointment
date : 01/05/08
Address : 39 Blanche Street
St Kilda, VIC 3182
Australia
Biography : Born on 27-03-1969 in
Scotland.
James is qualified in industrial instrumentation and renewable
energy
and has been designing, selling and installing solar, wind and
micro
hydro systems for over ten years. James manages Energy Matters’
sister company Apollo Energy, which sells wholesale and retail
solar
and wind power components. James also oversees Energy Matters’
Medium Scale Projects team, which has completed major commercial
and residential installations.
Name : Narelle Denise Kossatz
Designation : Company Secretary
Appointment
date : 20/10/11
Address : 22 Scott Street
Canterbury, VIC 3126
Australia
Biography : Born on 18-10-1971 in
Melbourne, Victoria, Australia.
With international experience in construction law and a passion
for
sustainability, Narelle manages the OH&S, Legal and Human
Resources departments at Energy Matters. Her strength at
identifying
risks in commercial transactions and business processes, and
providing commercial and practical solutions, ensures Energy
Matters
stays ahead of the pack in an industry which is legislation driven
and
often at the whim of government agenda.
Staff employed
: 90 employees (Subject)
Key Advisors
Auditors : DELOITTE TOUCHE TOHMATSU
Level 17, 550 Bourke Street
Melbourne, VIC 3000
Australia
Composition
Authorized
Capital : AUD 751,080
No of shares :
1,674 Ordinary Shares
Share par
value : No par value
Issued capital
: AUD 751,080
Paid up
capital : AUD 751,080
How listed : Full List
Composition
Shareholder
name : RICHIE RICH PTY LTD
Address : 2 Marine Parade
St Kilda, VIC 3182
Australia
No. of shares
: 318 Ordinary Shares
Shareholder
name : ECO CONCEPTS PTY. LTD.
Address : Warrandyte, VIC 3113
Australia
No. of shares
: 318 Ordinary Shares
Shareholder
name : NATURES JOULE PTY LTD
Address : St Kilda, VIC 3182
Australia
No. of shares
: 318 Ordinary Shares
Shareholder
name : SYLVESTER INVESTOR PTY LTD
Address : 86 Benjamin Street
Sunshine, VIC 3020
Australia
No. of shares
: 318 Ordinary Shares
Shareholder
name : GREEN ENDEAVOURS LIMITED
Address : Unit 1001, 10th Floor, Star
House
3 Salisbury Road
Tsim Sha Tsui, Kowloon
Hong Kong
No. of shares
: 318 Ordinary Shares
Shareholder
name : MARMAD PTY LTD
Address : 4 Yarra Grove
Hawthorn, VIC 3122
Australia
No. of shares
: 84 Ordinary Shares
Structure
Name : APOLLO ENERGY PTY LTD
Affiliation
type : Associate
Address : 359-361 City Road
Southbank, VIC 3006
Australia
Name : APOLLO ENERGY SERVICES
PTY LTD
Affiliation
type : Associate
Address : 359-361 City Road
Southbank, VIC 3006
Australia
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 : 30/06/12
Type of
accounts : Full
audited
Currency : Australia
Dollar (AUD)
Exchange rate
: 1
USD = AUD 1.05 as of 19-09-2013
Summarized
Financial Information
Consolidation
type : Non Consolidated Non Consolidated
Currency : Australia Dollar
(AUD) Australia Dollar
(AUD)
Denomination :
(x1) One (x1) One
Date of
financial year end : 30/06/12 30/06/11
Length of
accounts : 12 months 12 months
Sale turnover
/ Income : 88,294,033 97,229,806
Gross profit :
11,326,935 17,830,138
Profit before
tax : 1,906,753 6,329,323
Net income : 1,754,982 4,416,623
Non current
assets : 1,530,362 2,852,374
Current assets
: 18,303,512 24,866,883
Inventories : 4,637,581 7,050,154
Total assets :
19,833,874 27,719,258
Current
liabilities : 13,908,619
20,820,366
Non current
liabilities : 236,844 1,917,232
Total
liabilities : 14,145,463
22,737,598
Share equity : 5,688,411 4,981,660
Retained
earning : 5,123,288 4,416,537
Main
activities : The
Subject engages in import, distribution and installation of solar energy
related products.
The Subject has installed over 15,000 solar systems on homes,
schools
and commercial buildings, including Australia's largest privately
funded
solar photovoltaic project – a 200kW rooftop array in Sydney.
The Subject clients includes Australia Post, Johnson &
Johnson, NEXTDC,
The Big Strawberry, Ullrich Aluminium and Dexus Property Group.
Product & services : -
· Residential solar panel based photovoltaic (PV) power systems
- Commercial
Solar PV Systems
- Renewable
energy components:
· Solar panels/modules
· Wind turbines
· Regulators
· Inverters
· Fuses
· Deep cycle batteries
· Battery chargers
· Solar & DC pumps
· Generators
· Solar mounting Systems
· Solar hot water products
- Solar energy
products installation services
Brand :
· SHARP
· SUNTECH
· SOLARONE
· REC
· SANYO
· FRONIUS
· SMA
· LATRONICS
· SELECTRONIC
· VICTRON
· SOUTHWEST WINDPOWER
· WESTWIND
· FULLRIVER
· HAZE
· TROJAN
Purchases
International
: Mainly from
China, Japan, Germany, Netherlands
Sales
Local : Yes
International
: No exports.
Key events : Energy Matters Pty Ltd -
Notification - N96139 Applicant(s): Energy Matters Pty Ltd
Notification
number(s)/Dates lodged: 10th September 2012
Summary:
Energy Matters
Pty Ltd (Energy Matters) proposes to offer a payment to
residential
purchasers of new solar systems in Victoria based on the
amount of
electricity generated by that solar system that is fed back into
the
electricity distribution network. The payment is conditional upon:
(a) the
system's eligibility for the Victorian Transitional Feed-in Tariff (TFiT),
had
eligibility for the TFiT not been cut off in accordance with the Victorian
Government's
announcement on 3 September 2012; and
(b) that the
customer signs up to, or agrees to sign up to, a Retail Electricity
Supply
Agreement and a Feed-in Agreement with Diamond Energy Pty Ltd.
Source:
Australian Competition & Consumer Commission
Property &
Assets
Premises : The Subject
operates from premises at the verified heading address
consisting of a warehouse and an administrative office.
Branches : In addition, the
Subject operates from the following branches located at:
32 Mumford Place
Balcatta, WA 6021
Australia
Tel: +61 8 61883321
57 Garfield Street
South Launceston, TAS 7249
Australia
Tel: 61 3 63449991
43 Weaver Street
Edwardstown, SA 5039
Australia
Tel: +61 8 82764111
Unit 2, Gateway Business Park
63-79 Parramatta Road
Silverwater, NSW 2128
Australia
Tel: +61 2 95600446
Unit 201.1 Da Vinci Business Park
cnr Boronia Road and Leonardo Drive
Brisbane Airport, QLD 4008
Australia
Tel: +61 7 38898509
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%
Purchase Term
International
: L/C, Telegraphic
transfer, D/P, Credit 30-90 days
Sales Term
Local : Cash, Credit card, Cheque,
Bank transfer, Credit 30 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.62.24 |
|
UK Pound |
1 |
Rs.99.90 |
|
Euro |
1 |
Rs.84.23 |
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.