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Report Date : |
02.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
ANCA PTY LTD |
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Formerly Known as: |
AUSTRALIAN
N.C. AUTOMATION PTY. LTD. |
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Registered Office : |
25 Gatwick
Road, Bayswater North, Victoria, Zip/postal code 3153 |
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Country : |
Australia |
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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 |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – 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 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
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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 |
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.59.03 |
|
|
1 |
Rs.98.91 |
|
Euro |
1 |
Rs.80.34 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIS |
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.