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Report Date : |
14.05.2014 |
IDENTIFICATION DETAILS
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Name : |
ANCHOR FOODS PTY LTD |
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Formerly Known As : |
ANCHOR FOODS (WA) PTY LTD |
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Registered Office : |
255 Hay Street, Subiaco, Western Australia, 6008 |
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Country : |
Australia |
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Financials (as on) : |
30.06.2013 |
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Date of Incorporation : |
24.06.2002 |
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Com. Reg. No.: |
101088626 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Import, manufacturing and distribution of food products. |
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No. of Employees : |
101 employees |
RATING & COMMENTS
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MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 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 : ANCHOR
FOODS PTY LTD
Other style / Business name : ANCHOR
FOODS
Business address : 148
Carrington Street
Town : O'Connor
Province : Western
Australia
Zip/postal code : 6163
Country : Australia
Tel : +61
8 93144200
Fax : +61
8 93144201
Email : enquiries@anchorfoods.com.au
Website :
www.anchorfoods.com.au
Registered address : 255
Hay Street
Town : Subiaco
Province : Western
Australia
Zip/postal code : 6008
Country : Australia
Executive Summary
Date founded or registered :
24/06/2002
Legal form : Australian
Proprietary Company
Chief executive : David
Thomas Clapin
Issued & paid up capital : AUD
2,949,165
Sales turnover : AUD
36,168,953 (Non-Consolidated 12 months, 30/06/2013)
Net income : AUD
387,044 (Non-Consolidated 12 months, 30/06/2013)
Total fixed assets : AUD
14,336,885 (Non-Consolidated 12 months, 30/06/2013)
Line of business : Import,
manufacturing and distribution of food products.
Staff employed : 101
employees
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 : 24/06/2002
Legal form : Australian
Proprietary Company
Registration no Australian
Company Number: 101088626
Registered authority : Australian
Securities and Investments Commission
Fiscal/ Tax no : Australian
Business Number: 15101088626
Registry status : Live/Active
Previous name : ANCHOR
FOODS (WA) PTY LTD
Change of legal form : None
reported.
Other registration : The
Subject owns the following business names:
SPENCERS GOURMET TRADING is a business name
owned by the Subject registered on 23/01/2004 under business registration no:
BN09922120.
ANCHOR MARGARET RIVER WINE VINEGAR is a
business name owned by the Subject registered on 24/06/2004 under business
registration no: BN10032332.
ANCHOR FOODS is a business name owned by the
Subject registered on 12/11/2008 under business registration no: BN11194261.
TREEHOUSE CORDIAL CO. is a business name
owned by the Subject registered on 13/11/2008 under business registration no:
BN11195241.
THE NATURAL BAKING COMPANY is a business
name owned by the Subject registered on 01/09/2000 .
Key Management
Name : David Thomas Clapin
Designation : Managing
Director
Appointments
Name : David
Thomas Clapin
Designation : Director
Appointment date :
24/06/02
Address : 116
Heytesbury Road
Subiaco, WA 6008
Australia
Biography : Born
on 06-07-1960 in Subiaco, Western Australia, Australia.
Name : Andrew
THart (Need to add apostrophe)
Designation : Company
Secretary
Appointment date : 18/09/08
Address : 23
Kintyre Crescent
Floreat, WA 6014
Australia
Biography : Born
on 06-09-1960 in Harare, Zimbabwe.
Staff employed : 101
employees
Auditors : MAXIM
HALL CHADWICK PTY LTD
243 Hay Street
Subiaco, WA 6008
Australia
Composition
Authorized Capital : AUD
2,949,165
No of shares : 3,000,000
Ordinary Shares
Share par value : No
Par Value
Issued capital : AUD
2,949,165
Paid up capital : AUD
2,949,165
How listed : Full
List
Composition
Shareholder name : ANCHOR
LIGHTHOUSE HOLDINGS PTY LTD
Address : 148
Carrington Street
O'Connor, WA 6163
Australia
No. of shares : 3,000,000
Ordinary Shares
% of shares : 100%
Structure
Name : ANCHOR
LIGHTHOUSE HOLDINGS PTY LTD
Affiliation type : Parent
Company
Address : 148
Carrington Street
O'Connor, WA 6163
Australia
Name : ANCHOR FOODS INVESTMENTS PTY LTD
Affiliation type : Associate
Address : 255
Hay Street
Subiaco, WA 6008
Australia
Bank Details
Name of bank : The
Australia and New Zealand Banking Group Limited (ANZ Bank)
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 : 30/06/13
Type of accounts : Full
audited
Currency : Australia
Dollar (AUD)
Exchange rate : 1
USD = AUD 1.06 as of 11-05-2014
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 |
: 30/06/13 |
30/06/12 |
|
Length of accounts |
: 12 months |
12 months |
|
Sale turnover / Income |
: 36,168,953 |
33,292,602 |
|
Gross profit |
: 6,963,264 |
5,812,113 |
|
Profit before tax |
: 387,044 |
-522,675 |
|
Net income |
: 387,044 |
-522,675 |
|
Non current assets |
: 4,793,591 |
4,877,786 |
|
Current assets |
: 9,543,294 |
7,695,626 |
|
Inventories |
: 3,558,563 |
2,489,938 |
|
Total assets |
: 14,336,885 |
12,573,412 |
|
Current liabilities |
: 11,435,721 |
10,068,529 |
|
Non current liabilities |
: 374,478 |
365,241 |
|
Total liabilities |
: 11,810,199 |
10,433,770 |
|
Share equity |
: 2,526,686 |
2,139,642 |
|
Retained earning |
: -422,475 |
-809,519 |
Note: The Subject has a negative net current asset amounting to AUD
-1,892,427
Main activities : The
Subject engages in import, manufacturing and distribution of food products.
Product & services : Flour:
Bread Mixes
Traditional Flour
Specialty Flour
Baking, Desserts and Flour Mixes:
Flour Mixes
Dessert Mixes
Baking Mixes
Natural breakfast products:
Semolina
Muesli
Oats
Vinegar
Birdseed
Cordial
Baking products
Cooking aids
Herbs
Spices
Brand : ANCHOR
FOODS
Purchases
International : Europe,
Asia
Sales
Local : Yes
International : None
reported.
Property &
Assets
Premises : The Subject
operates from the verified heading address consisting of a production facility,
warehouse and an administrative office.
Branches : None
reported.
Other property : Total NBV of property,
plant and equipment as of 30-06-2013 was AUD 2,700,193
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
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 : Prepayment,
D/P, Bank transfer, Credit 30-90 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.59.88 |
|
|
1 |
Rs.100.98 |
|
Euro |
1 |
Rs.82.40 |
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.