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Report Date : |
21.02.2014 |
IDENTIFICATION DETAILS
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Name : |
ANCA PTY LTD |
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Formerly Known as: |
AUSTRALIAN N.C. AUTOMATION
PTY. LTD. |
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Registered Office : |
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Country : |
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Financials (as on) : |
30.06.2013 (Consolidated) |
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Date of Incorporation : |
26.02.1976 |
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Com. Reg. No.: |
005163244 |
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Legal Form : |
Australian Proprietary
Company |
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Line of Business : |
Engaged in design and manufacturing of computer
numerical controlled (CNC) tools and grinding machines. Subject products ranges includes : CNC
grinding machines CNC
tool and cutting machines CNC
sharpening machines CNC
tap manufacturing machines Software |
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No. of Employees : |
777 employees (Anca 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 : |
Satisfactory |
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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 – december 01, 2013
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Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
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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 |
IDENTIFICATION DETAILS
Verified Address
Subject name : ANCA PTY LTD
Business address : 25 Gatwick Road
Town : Bayswater North
Province : Victoria
Zip/postal code : 3153
Country : Australia
Tel : +61 3 97518200
Fax : +61 3 97517300
Email : ozinfo@anca.com
Website : www.anca.com
Registered address : 25 Gatwick Road
Town : Bayswater North
Province : Victoria
Zip/postal code : 3153
Country : Australia
Executive Summary
Date founded or registered : 26/02/1976
Legal form : Australian
Proprietary Company
Chief executive : Grantly Martin Anderson
Issued & paid up capital
: AUD 125,717
Sales turnover : AUD 147,113,167 (Consolidated 12
months, 30/06/2013)
Net income : AUD 5,014,705
(Consolidated 12 months, 30/06/2013)
Total fixed assets : AUD
135,420,402 (Consolidated 12 months, 30/06/2013)
Line of business : Design
and manufacturing of computer numerical controlled (CNC) tools and
grinding machines.
Staff employed : 777 employees (Anca
Group)
Credit Risk
Interpretation
Credit risk theory : Reasonable financial and
operational base. Small credits may be considered
with some confidence that commitments will be sustained under
normal
circumstances.
This is based on criterions such as years of establishment,
number of
employees, sales turnover, profit after tax, total assets, reserve, and
others. A
cautious credit control policy applies
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 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 : 26/02/1976
Legal form : Australian
Proprietary Company
Registration no Australia Company
Number: 005163244
Registered authority : Australian Securities and
Investments Commission
Fiscal/ Tax no : Australia Business
Number: 43005163244
Registry status : Live/Active
Previous name : AUSTRALIAN N.C.
AUTOMATION PTY. LTD.
DROMADEL PTY. LTD. (initial)
Change of legal form : None reported.
Key Management
Name : Grantly Martin Anderson
Designation : Chief Executive Officer
Name : Jeffrey Foregard
Designation : Executive Director
Appointments
Name : Patrick John McCluskey
Designation : Director
Appointment date : 11/06/76
Address : 6 Kingfield Court
Camberwell,
VIC 3124
Australia
Biography : Born on 24-08-1948 in Koroit,
Victoria, Australia.
Name : Patrick Gerard Boland
Designation : Director
Appointment date : 11/06/76
Address : 73 Alfred Street
Kew, VIC
3101
Australia
Biography : Born on 02-11-1948 in
Yallourn, Victoria, Australia.
Name : Russell John Riddiford
Designation : Director
Appointment date : 12/03/96
Address : 3553 Beagle Road
Commerce, MI 48382
United States of America
Biography : Born on 25-03-1962 in
Melbourne, Victoria, Australia.
Name : Grantly Martin Anderson
Designation : Director
Appointment date : 25/08/10
Address : 25 Mariposa Place
Port Melbourne, VIC 3207
Australia
Biography : Born on 01-10-1954 in
Adelaide, South Australia, Australia.
Name : Jeffrey Foregard
Designation : Director
Appointment date : 30/06/06
Address : Room 301, Block 25, 650
Biyun Road
Pudong New
District, Shanghai 201206
China
Biography : Born on 08-12-1963 in London,
United Kingdom.
Name : Jan Langfelder
Designation : Alternate Director
Appointment date : 02/03/12
Address : Schillerstraße 11A
D-61440
Oberursel (Taunus)
Germany
Biography : Born on 11-08-1958 in Prague,
Czech Republic.
Name : Gary Ward
Designation : Company Secretary
Appointment date : 16/04/12
Address : 2 Natalie Mews
Eltham,
VIC 3095
Australia
Biography : Born on 03-11-1960 in
Watford, United Kingdom.
Staff employed : 777 employees (Anca Group)
Key Advisors
Auditors : DELOITTE & CO
550 Bourke
Street
Melbourne,
VIC 3000
Australia
Composition
Authorized Capital : AUD 125,717
No of shares : 1,251 Employee Shares / 124,466
Founder Shares
Share par value : AUD 1
Issued capital : AUD 125,717
Paid up capital : AUD 125,717
How listed : Full List
Composition
Shareholder name : Russell John Riddiford
Address : 3553 Beagle Road
Commerce,
MI 48382
United
States of America
No. of shares : 1,251 Employee Shares / 5,036
Founder Shares
Shareholder name : PICOPROP PTY. LTD.
Address : Level 2, 215 Spring Street
Melbourne,
VIC 3000
Australia
No. of shares : 302 Founder Shares
Shareholder name : Patrick Gerard Boland
Address : 73 Alfred Street
Kew, VIC
3101
Australia
No. of shares : 29,735 Founder Shares
Shareholder name : Elizabeth Anne Boland
Address : 73 Alfred Street
Kew, VIC
3101
Australia
No. of shares : 29,678 Founder Shares
Shareholder name : Patrick John McCluskey
Address : 6 Kingfield Court
Camberwell,
VIC 3124
Australia
No. of shares : 59,715 Founder Shares
Structure
Name : ANCA MOTION PTY LTD
Affiliation type : Wholly-owned Subsidiary
Address : 41 Gatwick Road
Bayswater
North, VIC 3153
Australia
Name : PATRIX FENCING PTY LTD
Affiliation type :
Wholly-owned Subsidiary
Address : 25 Gatwick Road
Bayswater
North, VIC 3153
Australia
Name : ANCA INC.
Affiliation type :
Wholly-owned Subsidiary
Address : 31129 Century Drive
Wixom
Michigan
48393
United
States
Name : ANCA MACHINE TOOL (SHANGHAI) CO.,
LTD.
Affiliation type :
Wholly-owned Subsidiary
Address : West Wing, 1/F., Building 4
475 Fu Te
No.1 Road(W)
Waigaoqiao
FTZ, Shanghai
China
Name : ANCA MOTION TAIWAN CO., LTD.
Affiliation type :
Wholly-owned Subsidiary
Address : 1F., No.57, Gongyequ 37th Rd.
Xitun
Dist., Taichung City 407
Taiwan
Related companies and corporate affiliations comments
Other companies of the ANCA
Group should be considered affiliates of the Subject.
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 :
Satisfied Charges:
ASIC Charge Number: 95204
Date Registered: 01-10-1982
Charge type: Both Fixed &
Floating
Date Created: 17-09-1982
Chargees Name: RURAL FINANCE
CORPORATION OF VICTORIA
ASIC Charge Number: 95235
Date Registered: 14-10-1987
Charge type: Both Fixed &
Floating
Date Created: 23-09-1987
Chargees Name: NATIONAL
AUSTRALIA BANK LIMITED
ASIC Charge Number: 473174
Date Registered: 05-01-1995
Charge type: Both Fixed &
Floating
Date Created: 22-12-1994
Chargees Name: ST.GEORGE BANK
LIMITED & ST. GEORGE FINANCE
LIMITED
ASIC Charge Number: 526982
Date Registered: 12-02-1996
Charge type: Both Fixed &
Floating
Date Created: 24-01-1996
Chargees Name: AUSTRALIAN
TRADE COMMISSION
ASIC Charge Number: 808823
Date Registered: 06-07-2001
Charge type: Both Fixed &
Floating
Date Created: 31-05-2001
Chargees Name: BANK ONE,
NATIONAL ASSOCIATION
ASIC Charge Number: 987206
Date Registered: 22-10-2003
Charge type: Both Fixed &
Floating
Date Created: 18-09-2003
Chargees Name: AUSTRALIA AND NEW
ZEALAND BANKING GROUP LIMITED
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 : 30/06/13
Type of accounts : Full audited
Currency : Australia Dollar
(AUD)
Exchange rate : 1 USD = AUD 1.11 as of
19-02-2014
Summarized
Financial Information
Consolidation type : Consolidated Consolidated
Currency : Australia Dollar
(AUD) Australia
Dollar (AUD)
Denomination : (x1) One (x1) One
Date of financial year end : 30/06/13 30/06/12
Length of accounts : 12 months 12 months
Sale turnover / Income : 147,113,167 158,715,321
Gross profit : 50,777,373 67,120,474
Profit before tax : 2,631,440 22,453,825
Net income : 5,014,705 20,183,918
Non current assets : 51,219,285 46,312,931
Current assets : 84,201,117 91,642,303
Inventories : 51,069,369 58,071,583
Total assets : 135,420,402 137,955,234
Current liabilities : 53,882,691 51,611,254
Non current liabilities : 2,277,704 12,782,370
Total liabilities : 56,160,395 64,393,624
Share equity : 79,260,007 73,561,610
Retained earning : 82,020,908 78,010,752
Comments : The consolidated financial
information above relates to the Subject and all its
subsidiaries.
Main activities : The Subject engages in design and
manufacturing of CNC tools and
grinding machines.
The company was founded in 1974 by Pat Boland and
Pat
McCluskey in Melbourne, Australia.
The
Subject is considered a leader in the field of high-end precision
grinders
that are used in many industries including aeronautics and
automotive
industry.
Product & services :
· CNC grinding machines
CNC
tool and cutting machines
CNC
sharpening machines
CNC
tap manufacturing machines
Software
Brand :
ANCA
Purchases
International : Mainly from China, Taiwan and
Thailand
Sales
Local : Yes
International : Worldwide
Key events : 26 October 2012
ANCA Wins
Australian Exporting Award
ANCA has
won the Large Advanced Manufacturer category in Australia’s
Governor
of Victoria Export Awards for the seventh time. According to the
company,
2011 was an exceptional year of growth for ANCA, an Australian
owned and
based market leader in CNC tool and cutter grinder design and
manufacturing.
Pat Boland, co-founder and director of ANCA, made the
announcement.
ANCA makes
a significant investment to the Australian economy with 98%
of its
products exported globally with major markets in Germany, Japan,
China, and
the United States. ANCA has defied the odds to achieve
success on
a global scale in a sector traditionally dominated by German
and Swiss
companies.
The award
is one of the most prestigious business awards in Victoria
rewarding
the most successful and innovative exporters with the stamp of
international
success.
ANCA
reported almost 20% export sales increase FY2011/2012 with
significant
success developing the Chinese, South American, and Indian
markets.
As the EU continues to struggle, ANCA had its most successful
trade show
at EMO exhibition with the highest sales ever achieved in its 38
years and
has launched new machines and software into the market to
remain at
the forefront of machine tool technology.
“This
award is an endorsement of the hard work and innovative thinking of
the team
at ANCA," says Boland. "We continue to push the boundaries,
developing
even more flexible and sophisticated products and identifying
new
un-tapped global markets to sell to. I am proud of the success of our
business
and our amazing talent that enable us to be the market leading
business
we are today.
“Given
that we are based in Australia but sell to the world, we have to be
the best
of the best. Our investment in research and development from the
beginning
has instilled a culture of excellence where we continue to seek
out new
and better innovations for our customers.”
Source: www.anca.com
Property &
Assets
Premises : The Subject operates from premises located at the verified heading
address
consisting of an administrative office, production facility and
warehouse.
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 &
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
International : L/C, Prepayment, Cash Against
Document, Credit Up To 120 Days
Sales Term
Local : Prepayment, Cash
Against Document, Credit Up To 120 Days
International : L/C, Prepayment, Cash Against
Document, Credit Up To 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
NT HISTORY
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.28 |
|
UK Pound |
1 |
Rs.103.84 |
|
Euro |
1 |
Rs.85.70 |
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.