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Report No. : |
318428 |
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Report Date : |
25.04.2015 |
IDENTIFICATION DETAILS
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Name : |
MITSUBISHI AUSTRALIA LTD |
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Registered Office : |
36, 120 Collins St Melbourne, VIC 3000 |
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Country : |
Australia |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
17.04.1956 |
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Legal Form : |
Australian Public Company |
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Line of Business : |
Subject is engaged in a broad range of business including the areas
of Energy, Metals, Machinery, Chemicals, Food, General Merchandise,
Automotive Tooling, Equipment & Materials and Business Development. |
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No. of Employees : |
117 |
RATING & COMMENTS
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MIRA’s Rating : |
Aa |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Status : |
Excellent |
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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 31, 2014
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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 2014, Australia had experienced more than 20 years of continued economic growth, averaging more than 3% 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.
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Source
: CIA |
MITSUBISHI
AUSTRALIA LTD
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Summary Panel |
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Established |
1956 |
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Incorporated |
1956 |
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Status |
Trading |
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Line of Business |
Investment and trading entity |
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Chief Executive Officer |
TAKADA, MITSUYUKI |
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Adverse Listings |
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For the financial year ended 31 March 2014 the subject recorded revenue
of $415,536,000, which resulted in an operating profit before tax of $4,325,000
and an operating profit after tax of $3,306,000 representing a Net Profit
Margin of 0.8%.
During fiscal 2014, the subject recorded a deficiency in Net Cashflows
from operating activities totalling $13,821,000.
As at 31 March 2014 the subject recorded Working Capital of $58,286,000
and a current ratio of 2.05 to 1 indicating sound liquidity levels.
Net Assets totalled $66,039,000 as at 31 March 2014.
Company Type Australian
Public Company
INCORPORATED 17
April 1956
REGISTERED ADDRESS 36, 120
Collins St
MELBOURNE,
VIC 3000
SHARECAPITAL $48,000,000
SHAREHOLDERS Mitsubishi
Corporation Holds 24,000,000 shares
Current Directors
Total: 6
Director Name GODA, HIROHIDE
Appointment Date 01 Apr 2015
Date of Birth 01 Jan 1965
Place of Birth HIMEJI JAPAN
Gender MALE
Resident Overseas N
Address 4, 2 KINGS PARK AVE,
CRAWLEY
WA 6009
Document Number 7E6848056
Director Name HIROTA, NOBUHARU
Appointment Date 01 Apr 2015
Date of Birth 2 5 Dec 1969
Place of Birth TOKYO JAPAN
Gender MALE
Resident Overseas N
Address 16 MACQUARIE ST,
CHATSWOOD NSW 2067
Document Number 7E6848056
Director Name OKADA, HARUNOBU
Appointment Date 18 Jun 2014
Date of Birth 11 Jun 1968
Place of Birth URAWA CITY JAPAN
Gender MALE
Resident Overseas N
Address 2211, 7 RIVERSIDE QY,
SOUTHBANK VIC 3006
Document Number 7E6137209
Director Name TAKADA, MITSUYUKI
Appointment Date 01 Apr 2012
Date of Birth 09 Dec 1958
Place of Birth OSAKA JAPAN
Gender MALE
Resident Overseas N
Address 3504, 368 ST KILDA RD,
MELBOURNE VIC 3004
Document Number 7E4371224
Director Name KITAGAWA, YASUHIKO
Appointment Date 18 Aug 2010
Date of Birth 15 Aug 1957
Place of Birth KOCHI JAPAN
Gender UNKNOWN
Resident Overseas Y
Address -
Document Number 7E3128620
Director Name TURNER, MARIE DOREEN
Appointment Date 01 Sep 2008
Date of Birth 20 Jan 1959
Place of Birth FOSTER VIC
Gender FEMALE
Resident Overseas N
Address 3 PARK DR, CLIFTON HILL
VIC
3068
Document Number 7E3518754
Current
Secretaries Total: 1
Secretary Name TURNER, MARIE DOREEN
Appointment Date 01 Jul 2004
Date of Birth 20 Jan 1959
Place of Birth FOSTER VIC
Address 3 PARK DRIVE CLIFTON HILL
VIC, 3068
Document Number 7E3518754
Effective 30 January 2012 the Personal Property Securities Register (PPSR) was introduced to give the different Commonwealth, State and Territory laws and registers regarding security interests in personal property under one national system.
As a result of PPS Reform a number of existing Commonwealth, State and Territory personal property security registers will close. Interests registered on existing security interest registers will be migrated to the national PPS Register. Subsequently Registered Charges are no longer lodged with the Australian Securities and Investments Commission (ASIC).
TRADING ADDRESS 36, 120 Collins St
MELBOURNE,
VIC 3000
TELEPHONE (613) 9275 3999
WEBSITE http://www.mitsubishicorp.com/au/en/
HOLDING ENTITY MITSUBISHI CORPORATION
BRANCHES SYDNEY NSW
PERTH WA
BRISBANE, QLD
MT WAVERLEY VIC
BANK COMMONWEALTH
BANK OF AUSTRALIA
NATIONAL
AUSTRALIA BANK
WESTPAC
BANKING CCORPORAITON
ANZ
BANKING GROUP
EMPLOYEES 117
The subject was incorporated in Victoria on 17 April 1956 as Mitsubishi (Australia) P/L, before adopting the current style on 28 May 1973.
The subject operates as an international trading and investment company engaged in a broad range of business including the areas of Energy, Metals, Machinery, Chemicals, Food, General Merchandise, Automotive Tooling, Equipment & Materials and Business Development.
Activities are conducted from premises located at the above listed trading address.
A search of of on 21 April 2015 failed to trace any litigation listed against the subject at that date.
From the subjects most recently lodged financial statements, it is noted that for the financial year ended 31 March 2014 the subject recorded revenue of $415,536,000, which resulted in an operating profit before tax of $4,325,000 and an operating profit after tax of $3,306,000 representing a Net Profit Margin of 0.8%.
Below is a summary of the subject’s income results for the past two financial years.
|
|
As
at 31 March 2014 |
As
at 31 March 2013 |
Change
(%) |
|
Revenue |
$415,536,000.00 |
$427,795,000.00 |
-2.87% |
|
Profit b/tax |
$4,325,000.00 |
$5,005,000.00 |
-13.59% |
|
Profit a/tax |
$3,306,000.00 |
$3,244,000.00 |
1.91% |
|
Net Profit Margin |
0.80% |
0.76% |
0.04% |
During fiscal 2014, the subject recorded a deficiency in Net Cashflows
from operating activities totalling $13,821,000.
As at 31 March 2014 the subject recorded total current assets of
$113,895,000. They included cash of $15,164,000, receivables of $82,387,000 and
inventories of $12,463,000.
Current liabilities at the same date totalled $55,609,000 and included
payables of $29,806,000 and borrowings of $21,041,000.
As at 31 March 2014 the subject recorded Working Capital of $58,286,000
and a current ratio of 2.05 to 1 indicating sound liquidity levels.
Net Assets totalled $66,039,000 as at 31 March 2014. At this date, the
subject further recorded a Debt to Equity ratio of 0.85 to 1.
|
As at 31 March
2014 |
As at 31 March
2013 |
Change (%) |
|
|
Revenue |
$415,536,000.00 |
$427,795,000.00 |
-2.87% |
|
Profit b/tax |
$4,325,000.00 |
$5,005,000.00 |
-13.59% |
|
Profit a/tax |
$3,306,000.00 |
$3,244,000.00 |
1.91% |
|
Net Profit Margin |
0.80% |
0.76% |
0.04% |
|
Current Assets |
$113,895,000.00 |
$207,319,000.00 |
-45.06% |
|
Non Current Assets |
$8,135,000.00 |
$19,753,000.00 |
-58.82% |
|
Total Assets |
$122,030,000.00 |
$227,072,000.00 |
-46.26% |
|
Current Liabilities |
$55,609,000.00 |
$148,488,000.00 |
-62.55% |
|
Non Current Liabilities |
$382,000.00 |
$10,689,000.00 |
-96.43% |
|
Total Liabilities |
$55,991,000.00 |
$159,177,000.00 |
-64.82% |
|
Net Assets |
$66,039,000.00 |
$67,895,000.00 |
-2.73% |
|
Working Capital |
$58,286,000.00 |
$58,831,000.00 |
-0.93% |
|
Current Ratio |
2.05 |
1.40 |
46.69% |
|
Debt to Equity |
0.85 |
2.34 |
-63.84% |
During the current investigation, contact with the subjects principals
was unable to be established.
Subsequently details pertaining to the company’s suppliers were unable to
be obtained and a trade survey could not be conducted.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.40 |
|
|
1 |
Rs.95.42 |
|
Euro |
1 |
Rs.68.49 |
INFORMATION DETAILS
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Analysis Done by
: |
SUB |
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Report Prepared
by : |
VNT |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
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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.