|
Report Date : |
19.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
GLENCORE GRAIN PTY LIMITED |
|
|
|
|
Formerly Known As : |
BROOKS GRAIN
PTY. LTD. |
|
|
|
|
Registered Office : |
Level 8, 484
St Kilda Road, Melbourne, Victoria, Zip/postal code 3004 |
|
|
|
|
Country : |
Australia |
|
|
|
|
Financials (as on) : |
31.12.2013 (Group Consolidated) 31.12.2012 (Non-Consolidated ) |
|
|
|
|
Date of Incorporation : |
18.09.2003 |
|
|
|
|
Com. Reg. No.: |
106378885 |
|
|
|
|
Legal Form : |
Australian
Proprietary Company |
|
|
|
|
Line of Business : |
engaged in processing, handling, marketing, wholesale distribution and exporter of various types of grains such as wheat, corn, barley, rice, soybeans, oilseeds, edible oils and biodiesel. |
|
|
|
|
No. of Employees : |
43 employees
(Subject); 57,656 employees (Glencore Xstrata Group) |
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 : |
Good |
|
|
|
|
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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Australia |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 :
GLENCORE GRAIN
PTY LIMITED
Other style /
Business name : BROOKS GRAIN
Business
address : Level 8, 484
St Kilda Road
Town : Melbourne
Province : Victoria
Zip/postal
code : 3004
Country : Australia
Tel : +61 3
98642000
Fax : +61 3
98642002
Website : www.glencoregrain.com.au
Registered
address : Level 8, 484 St
Kilda Road
Town : Melbourne
Province : Victoria
Zip/postal
code : 3004
Country : Australia
Postal address
: P.O. Box 7656
Town : St. Kilda
Road
Province : Victoria
Zip/postal
code : 8004
Country : Australia
Executive Summary
Date founded
or registered : 18/09/2003
Legal form : Australian
Proprietary Company
Chief
executive : David
Mattiske
Issued &
paid up capital : AUD 18,000,000
Sales turnover
: AUD
2,391,597,000 (Non-Consolidated 12 months, 31/12/2012)
Net income : AUD 32,638,000
(Non-Consolidated 12 months, 31/12/2012)
Total fixed
assets : AUD
1,029,243,000 (Non-Consolidated 12 months, 31/12/2012)
Line of
business : Processing,
handling, marketing, wholesale distribution and export of various
types of grains.
Staff employed
: 43 employees
(Subject); 57,656 employees (Glencore Xstrata Group)
Credit Risk
Interpretation
Credit risk
theory : Sound
financial and operational base. Small to medium credits may be
considered with confidence that the commitment will be sustained
in almost all cases. This is based on criterions such as years of establishment,
number of employees, sales turnover, profit after tax, total assets, reserve,
and others. Normal credit control policy applies.
Company Analysis
Country risk :
Country risk
is minimal
Operation
trend : Operational
trend is progressing
Management
experience : Management is
adequately experienced
Financial
performance : Financial
performance is very good
Organisation
structure : Organisational
structure is consistent
Detrimental : No detrimental records 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.
Registry Data
Registration
date : 18/09/2003
Legal form : Australian
Proprietary Company
Registration
no Australian
Company Number: 106378885
Registered
authority : Australian
Securities and Investments Commission
Fiscal/ Tax no
: Australian
Business Number: 29106378885
Registry
status : Live/Active
Previous name
: BROOKS GRAIN PTY.
LTD. (initial)
Change of
legal form : None reported.
Key Management
Name : David Mattiske
Designation : Managing
Director
Appointments
Name : Andreas Peter Hubmann
Designation : Director
Appointment
date : 19/12/03
Address : C/o GLENCORE INTERNATIONAL
AG
Baarermattstrasse 3
6340 Baar
Switzerland
Biography : Born on 11-10-1966 in Zug,
Switzerland.
Name : Ernest Christian Barend
Mostert
Designation : Director
Appointment
date : 17/02/06
Address : Frankenslag 76
2582 HT Den Haag
The Netherlands
Biography : Born on 18-08-1964 in
Pretoria, South Africa.
Name : David Mattiske
Designation : Director
Appointment
date : 01/06/11
Address : 3 Hughes Street
Malvern East, VIC 3145
Australia
Biography : Born on 16-10-1976 in Box
Hill, Victoria, Australia.
Name : Ian William Ritter
Designation : Company Secretary
Appointment
date : 17/10/11
Address : 5 Skyline Drive
Keilor, VIC 3036
Australia
Biography : Born on 13-10-1977 in
Melbourne, Victoria, Australia.
Staff employed : 43 employees (Subject); 57,656
employees (Glencore Xstrata Group)
Key Advisors
Auditors : DELOITTE TOUCHE TOHMATSU
550 Bourke Street
Melbourne, VIC 3000
Australia
Composition
Authorized
Capital : AUD 18,000,000
No of shares :
18,000,000 Ordinary Shares
Share par
value : AUD 1
Issued capital
: AUD 18,000,000
Paid up capital : AUD 18,000,000
How listed : Full List
Composition
Shareholder
name : GLENCORE INTERNATIONAL AG
Address : Baarermattstrasse 3
6340 Baar
Switzerland
No. of shares
: 18,000,000 Ordinary Shares
% of shares : 100%
Structure
Name : GLENCORE XSTRATA PLC
Affiliation
type : Ultimate
Holding Company
Address : Baarermattstrasse 3
6340 Baar
Switzerland
Comments : Glencore Xstrata Plc is a
diversified natural resource company. The Company operates
in three segments: Metals and Minerals,
which includes copper, nickel, zinc/lead, alloys, alumina/aluminum and iron
ore; Energy Products, which includes controlled and non-controlled coal mining
and oil production operations and investments in strategic handling, storage
and freight equipment and facilities, and Agricultural Products, which focuses
on grains, oils/oilseeds, cotton and sugar. The Companys operations consist of
over 150 mining and metallurgical sites, offshore oil production assets, farms
and agricultural facilities.
The Company is a producer and
marketer of over 90 commodities, such as mobile phones, bicycles, cutlery,
plastics and electricity.
Name : GLENCORE INTERNATIONAL
AG
Affiliation type : Parent Company
Address : Baarermattstrasse 3
6340
Baar
Switzerland
Comments : Glencore International AG
sources, produces, processes, refines, transports,
stores, finances, and
supplies commodities. The company was formerly known as
Marc Rich & Co AG. The
company is based in Baar, Switzerland. Glencore
International AG operates
as a subsidiary of Glencore Xstrata Plc.
Name : GLENCORE GRAIN B.V.
Affiliation type : Sister Company
Address : Blaak 31
3011GA
Rotterdam
Netherlands
Name : GLENCORE COMMODITIES
LTD
Affiliation type : Sister Company
Address : 50 Berkeley Street
London
W1J 8HD
United
Kingdom
Name : GLENCORE SINGAPORE
PTE. LTD.
Affiliation type Sister Company
Address : 1 Temasek Avenue
#34-01,
Millenia Tower
Singapore
039192
Singapore
Related companies and corporate affiliations comments :
Other companies of the
Glencore Xstrata Group should be considered affiliates of the Subject.
Bank Details
Name of bank :
Commonwealth Bank
of 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 : Commercial
Registry Filings
Financial
statement date : 31/12/12
Type of
accounts : Full audited
Currency : Australia Dollar
(AUD)
Exchange rate
: 1 USD = AUD 1.08
as of 27-03-2014
Summarized
Financial Information
Consolidation
type : Non Consolidated Non Consolidated Group Consolidated
Currency : Australia Dollar
(AUD) Australia Dollar (AUD) US Dollar (USD)
Denomination :
(x1) One (x1) One (x1) One
Date of
financial year end : 31/12/12 31/12/11 31/12/13
Length of
accounts : 12 months 12 months 12 months
Sale turnover
/ Income : 2,391,597,000 1,801,176,000 232,694,000,000
Gross profit :
80,589,000 43,267,000
Profit before
tax : 46,671,000 19,025,000 -7,044,000,000
Net income : 32,638,000 13,279,000 -7,298,000,000
Non current
assets : 89,634,000 2,007,000 96,390,000,000
Current assets
: 939,609,000 947,120,000 58,542,000,000
Inventories : 696,661,000 592,148,000 22,753,000,000
Total assets :
1,029,243,000 949,127,000 154,932,000,000
Current
liabilities : 923,034,000
885,126,000 46,042,000,000
Non current
liabilities : 9,667,000 97,000 55,741,000,000
Total
liabilities : 932,701,000
885,223,000 101,783,000,000
Share equity :
96,542,000 63,904,000 53,149,000,000
Retained
earning : 78,542,000 45,904,000 49,824,000,000
Comments : The non-consolidated financial
information above relates to the Subject only.
The group’s consolidated financial information above relates to
Glencore Xstrata
PLC and all its subsidiaries which includes the Subject.
Main activities
: The Subject
engages in processing, handling, marketing, wholesale distribution and
exporter of various types of grains such as wheat, corn, barley, rice, soybeans, oilseeds, edible oils and biodiesel.
The Subject is
ultimately owned by Glencore Xstrata PLC.
Glencore Xstrata PLC engages in the production, sourcing, processing, refining, transporting, storage, financing, and supply of commodities worldwide. It operates in three segments: Metals and Minerals, Energy Products, and Agricultural Products. The Metals and Minerals segment engages in mining, smelting, refining, and warehousing copper, nickel, zinc/lead, alloys, alumina/aluminum, and iron ore products. The Energy Products segment activities include coal mining and oil production operations; and investments in handling, storage, and freight equipment and facilities. The Agricultural Products segment engages in the handling, processing, and storage of grains, such as wheat, corn, and barley; oilseeds, including soya beans and soft seeds; oil seed products, which include including edible oils and meals; and cotton and sugar. Glencore Xstrata PLC was formerly known as Glencore International PLC and changed its name to Glencore Xstrata PLC in May 2013. The company was founded in 1974 and is headquartered in Baar, Switzerland with presence and additional offices internationally.
Product & services :
· Wheat
· Corn
· Barley
· Rice
· Soybeans
· Oilseeds
· Edible oils
· Biodiesel
Purchases
Local : Yes
International
: Worldwide
Sales
Local : Yes
International
: Worldwide
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 the following branches located at:
124-130 South
Terrace Adelaide, SA 5000 Australia
Tel: +61 8 82117199
Unit 11, 142-154 South Terrace
Fremantle, WA 6160
Australia
Tel: +61 8 93355688
37-39 Moorong Street
Wagga, NSW 2650
Australia
Tel: +61 2 69218383
Unit 5, Business Central
136-140 Russell Street
Toowoomba, QLD 4350
Australia
Tel: +61 7 46381496
Other property
: Total NBV of property,
plant and equipment as of 31-12-2012 was AUD
471,000
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, D/A, Credit 30-120 days
International
: L/C,
Telegraphic transfer, D/P, D/A, Credit 30-120 days
Sales 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
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.60.38 |
|
UK Pound |
1 |
Rs.101.63 |
|
Euro |
1 |
Rs.83.57 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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.