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Report Date : |
02.05.2014 |
IDENTIFICATION DETAILS
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Name : |
DKSH AUSTRALIA PTY. LTD. |
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Formerly Known As : |
EDWARD KELLER AUSTRALIA PTY. LTD. |
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Registered Office : |
14 Dansu Court, Hallam, Victoria, 3803 |
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Country : |
Australia |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
04.06.1974 |
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Com. Reg. No.: |
005059307 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Import and distribution of consumer goods, luxury watches, specialty
chemicals and food ingredients products. |
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No. of Employees : |
181 |
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 |
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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 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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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 : DKSH
AUSTRALIA PTY. LTD.
Business address : 14-17
Dansu Court
Town : Hallam
Province : Victoria
Zip/postal code : 3803
Country : Australia
Tel +61
3 95546666
Fax : +61
3 95546677
Email : chris.kennedy@dksh.com
Website www.dksh.com.au
Registered address : 14
Dansu Court
Town : Hallam
Province : Victoria
Zip/postal code : 3803
Country : Australia
Executive Summary
Date founded or registered : 04/06/1974
Legal form : Australian
Proprietary Company
Chief executive : Christopher
Patrick Kennedy
Issued & paid up capital : AUD
8,465,000
Sales turnover : AUD
101,746,000 (Non-Consolidated 12 months, 31/12/2012)
Net income : AUD
-175,000 (Non-Consolidated 12 months, 31/12/2012)
Total fixed assets : AUD
70,545,000 (Non-Consolidated 12 months, 31/12/2012)
Line of business :
Sourcing, import and
distribution of consumer goods, luxury watches, specialty chemicals and food
ingredients products.
Staff employed : 181
employees (Subject); 26,693 employees (DKSH Group)
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 fair
Organization structure : Organizational
structure is stable
Detrimental : No
detrimental found
Payment history : No
payment delays noted
Registry Data
Registration date : 04/06/1974
Legal form :
Australian Proprietary Company
Registration no Australian
Company Number: 005059307
Registered authority : Australian
Securities and Investments Commission
Fiscal/ Tax no :
Australian Business Number: 70005059307
Registry status : Live/Active
Previous name : EDWARD KELLER AUSTRALIA PTY. LTD.
EDWARD KELLER (AUSTRALIA) PTY. LTD.
EDWARD KELLER TRADING PTY. LIMITED (initial)
Change of legal form : None
reported.
Key Management
Name : Christopher
Patrick Kennedy
Designation : Managing
Director, Head of Country Management & Finance Director
Name : Mark
O'Kelly
Designation : Business
Unit Manager - Consumer Goods
Name : David
Dimmock
Designation : General
Manager - Luxury Watches
Name : Michael
Joyce
Designation : Business
Unit Manager - Performance Materials
Appointments
Name : Gonpo
Tsering
Designation : Director
Appointment date : 31/03/03
Address : Kurlistrasse
29B
Winterthur 8404
Switzerland
Biography : Born
on 03-03-1956 in Tibet, China.
Name : Michael
Derimboglou
Designation : Director
Appointment date : 15/07/05
Address : 30
Wyndarra Crescent
Dingley Village, VIC 3172
Australia
Biography : Born
on 12-05-1969 in Melbourne, Victoria, Australia
Name : Roger Schnueriger
Designation : Director
Appointment date : 01/05/12
Address : 3
Buckley Road
Unit 03-02
Singapore
Biography : Born
on 05-06-1974 in Lachen, Switzerland.
Name : Christopher
Patrick Kennedy
Designation : Director
and Company Secretary
Appointment date : 01/05/12
Address : 31
Gilbert Grove
Bentleigh, VIC 3204
Australia
Biography : Born
on 09-01-1966 in Dublin, Ireland.
Staff employed : 181
employees (Subject); 26,693 employees (DKSH Group)
Key Advisors
Auditors : PRICEWATERHOUSECOOPERS
Freshwater Place
2 Southbank Boulevard
Southbank, VIC 3006
Australia
Composition
Authorized Capital : AUD
8,465,000
No of shares : 8,465,000
Ordinary Shares
Share par value : AUD 1
Issued capital : AUD
8,465,000
Paid up capital : AUD
8,465,000
How listed : Full
List
Composition
Shareholder name : DKSH
HOLDING LTD.
Address : Wiesenstrasse
8
P.O. Box 888
8034 Zurich
Switzerland
No. of shares : 8,465,000
Ordinary Shares
% of shares : 100%
Structure
Name : DKSH
HOLDING LTD.
Affiliation type : Parent
Company
Address : Wiesenstrasse
8
P.O. Box 888
8034 Zurich
Switzerland
Name : DKSH
INDIA PVT. LTD
Affiliation type : Sister
Company
Address : 1001
Alpha
Hiranandani Business Park
Powai, Mumbai 400076
India
Name : DKSH
(THAILAND) LTD
Affiliation type : Sister
Company
Address : 2535
Sukhumvit Road
Bangchak, Phrakhanong
Bangkok 10260
Thailand
Name : DKSH
(CHINA) CO., LTD.
Affiliation type : Sister
Company
Address : 3rd
Floor, Tomson Commercial Building
710 Dong Fang Road, Pudong
Shanghai 200122
China
Name : DKSH
GMBH
Affiliation type : Sister
Company
Address : Baumwall
3
20459 Hamburg
German
Related companies and corporate: Other companies of the DKSH Holding
Ltd. should be considered affiliated
affiliations comments companies of the Subject.
Bank Details
Name of bank : HSBC
Bank 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 1.09 as of 29-04-2014
Summarized
Financial Information
|
Consolidation type |
: Non Consolidated |
Non
Consolidated |
Group
Consolidated |
|
Currency |
: Australia Dollar (AUD) |
Australia Dollar (AUD) |
Switzerland, Franc (CHF) |
|
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 |
: 101,746,000 |
89,637,000 |
9,559,000,000 |
|
Gross profit |
: 37,353,000 |
34,824,000 |
|
|
Profit before tax |
: -185,000 |
3,103,000 |
310,500,000 |
|
Net income |
: -175,000 |
2,136,000 |
241,700,000 |
|
Non current assets |
: 18,307,000 |
12,368,000 |
369,800,000 |
|
Current assets |
: 52,238,000 |
44,758,000 |
3,016,800,000 |
|
Inventories |
: 21,194,000 |
19,305,000 |
818,500,000 |
|
Total assets |
70,545,000 |
57,126,000 |
3,386,600,000 |
|
Current liabilities |
52,894,000 |
39,381,000 |
1,954,200,000 |
|
Non current liabilities |
224,000 |
143,000 |
117,300,000 |
|
Total liabilities |
53,116,000 |
39,524,000 |
2,071,500,000 |
|
Share equity |
17,427,000 |
17,602,000 |
1,315,100,000 |
|
Retained earning |
8,962,000 |
9,137,000 |
1,270,800,000 |
Comments : The
non-consolidated financial information above relates to the Subject only.
The group consolidated financial information
above relates to the Subject's Parent Company DKSH Holding Ltd. and all its
subsidiaries which includes the Subject.
Main activities : The Subject engages in
sourcing, import and distribution of houseware, luxury watches, specialty
chemicals and food ingredients products.
The Subject
operates as a wholly owned subsidiary of DKSH Holding Ltd.
DKSH Holding Ltd. provides market expansion
services in Thailand, Greater China, Malaysia, Singapore, and other countries.
It offers sourcing, market entry consultancy, marketing and sales, distribution
and logistics, and after-sales support services.
The company's Consumer Goods segment offers
a range of services, such as product feasibility studies, sales and marketing,
and physical distribution for fast moving consumer goods, food services, hotel
supplies, and luxury and lifestyle products. Its Healthcare segment offers
various services, including product registration, marketing and sales, and physical
distribution for ethical pharmaceuticals, consumer health, and over-the-counter
health products, as well as medical devices. The company's Performance
Materials segment sources, develops, markets, and distributes a range of
specialty chemicals and food ingredients for the specialty chemicals, food and
beverage, pharmaceutical, and personal care industries. Its Technology segment
provides marketing and sales, as well as application engineering and
after-sales services for capital investment goods and analytical instruments in
the areas of industry, infrastructure, energy, research, and food and beverage,
as well as advanced metals. The company is headquartered in Zurich,
Switzerland.
Product & services : Kitchenware
Cookware
Bakeware
Servingware
Cookware and accessories
Kitchen tools and accessories
Knives
Luxury watches
Specialty chemicals and food ingredients
Electrical equipment
Electrical cables and connectors
Electrical enclosures
Variable speed drives
Low voltage control and monitoring products
Laboratory equipment
Industrial air compressors
Recycling and resource recovery equipments
Plastics processing and packaging equipment
Brand : DKSH
Purchases
International : Europe,
Asia, United States of America
Sales
Local : Yes
International : New
Zealand
Property &
Assets
Premises : The Subject
operates from the verified heading address consisting of an administrative
office and warehouse.
Branches : In
addition, the Subject operates from branches located at:
Unit 8, Level 1
12 Mars Road
Lane Cove, NSW 2066
Australia
Tel: +61 2 94255000
Level 3, 154 Elizabeth Street
Sydney, NSW 2000
Australia
Tel: +61 2 92647822
11 Macadam Street
Seventeen Mile Rocks, QLD 4073
Australia
Tel: +61 7 37257500
2 Burdon Street
Dudley Park, SA 5008
Australia
Tel: +61 8 84401300
1146 Abernethy Road
High Wycombe, WA 6057
Australia
Tel: +61 8 94539922
Other property : Total
NBV of property, plant and equipment as of 31-12-2012 were AUD 3,233,000
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: 2010:
20.4%
(General Government gross debt as 2011:
22.9%
a % GDP) 2012:
24%
Government bond ratings : Standard
& Poor's: AAA
Moody's rating: Aaa
Moody's outlook: STA
Market value of publicly traded: US$1.198
trillion
shares
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: 79%
population
Purchase Term
International : Prepayment,
L/C, Telegraphic transfer, D/P, Credit 30-120 days
Sales Term
Local : Bank
transfer, Credit 30-120 days
International : Prepayment,
L/C, Telegraphic transfer, D/P, 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.60.34 |
|
|
1 |
Rs.101.45 |
|
Euro |
1 |
Rs.83.31 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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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.