|
Report No. : |
334354 |
|
Report Date : |
10.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
NAMOI COTTON ALLIANCE |
|
|
|
|
Registered Office : |
1B Kitchener Street East, Toowoomba QLD 4350, |
|
|
|
|
Country : |
Australia |
|
|
|
|
Date of Incorporation : |
21.12.2012 |
|
|
|
|
Legal Form : |
Joint Venture |
|
|
|
|
Line of Business : |
Cotton warehousing, packing and marketing |
|
|
|
|
No. of Employees : |
80 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Australia |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
AUSTRALIA - ECONOMIC OVERVIEW
Following two decades of continuous growth, low unemployment, contained inflation, very low public debt, and a strong and stable financial system, Australia enters 2015 facing a range of growth constraints, principally driven by a sharp fall in global prices of key export commodities. Although demand for resources and energy from Asia and especially China has grown rapidly, creating a channel for resources investments and growth in commodity exports, sharp drops in current prices have already impacted growth. 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, although this trend could reverse or slow due to falling 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 entered into free trade agreements (FTAs) with the Republic of Korea and Japan, and concluded an FTA with China, in 2014, adding to existing FTAs with Chile, Malaysia, New Zealand, Singapore, Thailand, and the US, and a regional FTA with ASEAN and New Zealand. Australia continues to negotiate bilateral agreements with India and Indonesia, as well as larger agreements with its Pacific neighbors and the Gulf Cooperation Council countries, and an Asia-wide Regional Comprehensive Economic Partnership that includes the ten ASEAN countries and China, Japan, Korea, New Zealand and India. Australia is also working on the Trans-Pacific Partnership Agreement with Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the US, and Vietnam.
|
Source
: CIA |
NAMOI COTTON ALLIANCE
ABN:
98 831 122 036
|
Established |
2013 |
|
|
Line of Business |
Cotton warehousing, packing and marketing |
|
|
Status |
Trading |
|
For
the last financial year ended 28 February 2015 the subject traded profitably and
recorded revenue of $312,000,000 to $315,000,000.
On a
projected basis a slight decline in sales is forecast for the current financial
year ending 28 February 2016.
At
28 February 2015 the subject recorded Working Capital of $35,000,000 and a
current ratio of 1.9 to 1.
At
this time the subject further recorded total assets of $132,000,000 and Net
Assets of $92,000,000.
SPECIAL NOTE The
subject is a joint venture between Namcott Marketing P/L (51%) and Louis Dreyfus
Commodities Melbourne JVP P/L
ENTITY TYPE Joint Venture
NAMCOTT MARKETING P/L
ACN 161757366
ABN 34161757366
Status Registered
Incorporation Date 21 Dec 2012
Incorporation State VIC
Registered Office 1B KITCHENER STREET EAST
TOOWOOMBA QLD, 4350
Current Directors Total: 10
Director Name GREENWOOD, STUART
CHARLES
Appointment Date 17 Mar 2015
Date of Birth 13 Jul 1965
Place of Birth QUIRINDI NSW
Gender MALE
Resident Overseas N
Address 140 UMBIRAM SCHOOL RD,
UMBIRAM QLD 4352
Document Number 7E7027762
Director Name WATSON, TIMOTHY JOHN
Appointment Date 17 Dec 2014
Date of Birth 18 Aug 1961
Place of Birth ECHUCA VIC
Gender MALE
Resident Overseas N
Address 997 LACHLAN RIVER RD,
HILLSTON NSW 2675
Document Number 7E6643672
Director Name GREEN, ROBERT
Appointment Date 24 May 2013
Date of Birth 27 Feb 1957
Place of Birth NANANGO QLD
Gender MALE
Resident Overseas N
Address 398 TONIMBUK RD, TONIMBUK
VIC 3815
Document Number 1F0398350
Director Name COULTON, BENJAMIN KEITH
Appointment Date 11 Feb 2013
Date of Birth 04 Feb 1955
Place of Birth GOONDIWINDI QLD
Gender MALE
Resident Overseas N
Address WALLAROI, 2116 GETTA GETTA
RD, NORTH STAR NSW 2408
Document Number 1F0217700
Director Name BOYDELL, STUART CLIVE
Appointment Date 29 Jan 2013
Date of Birth 05 Apr 1947
Place of Birth TAMWORTH NSW
Gender MALE
Resident Overseas N
Address COOMA, 80 BULLARAH RD,
MOREE NSW 2400
Document Number 1F0392173
Director Name PRICE, GLENDON EDWARD
Appointment Date 29 Jan 2013
Date of Birth 15 Jul 1955
Place of Birth GLOUCESTER NSW
Gender MALE
Resident Overseas N
Address 135 BOOMI RD, MUNGINDI NSW
2406
Document Number 1F0392173
Director Name BOYCE, MICHAEL
Appointment Date 29 Jan 2013
Date of Birth 07 Nov 1942
Place of Birth AUCKLAND NEW ZEALAND
Gender MALE
Resident Overseas N
Address 21 SMITH ST, COOMA NSW 2630
Document Number 1F0392173
Director Name ANDERSON, RICHARD ANDREW
Appointment Date 29 Jan 2013
Date of Birth 01 Feb 1946
Place of Birth BRISBANE QLD
Gender MALE
Resident Overseas N
Address 16, 4 WARNE TCE, KINGS BEACH
QLD 4551
Document Number 7E6643685
Director Name GARCHA, BALHAR
Appointment Date 21 Dec 2012
Date of Birth 04 Oct 1973
Place of Birth PUNJAB INDIA
Gender MALE
Resident Overseas N
Address 6 CURRAWONG ST, RANGEVILLE
QLD 4350
Document Number 028064222
Director Name CALLACHOR, JEREMY
Appointment Date 21 Dec 2012
Date of Birth 20 Jun 1974
Place of Birth GLADSTONE QLD
Gender MALE
Resident Overseas N
Address 1 ANDERSON ST, EAST
TOOWOOMBA QLD 4350
Document Number 028064222
Current Secretaries Total: 1
Secretary Name GARCHA, BALHAR
Appointment Date 21 Dec 2012
Date of Birth 04 Oct 1973
Place of Birth PUNJAB INDIA
Address 6 CURRAWONG STREET
RANGEVILLE QLD, 4350
Document Number 028064222
Current Other Organisation Officers Total: 1
Officer Role Ultimate Holding Company
Officer Name NAMOI COTTON CO-OPERATIVE LTD
ACN 010485588
Appointment Date -
Address -
Document Number 028064222
Business Proprietorships Total: 1
Name NAMOI COTTON ALLIANCE *
ABN 98831122036
Appointment Date 10 Apr 2013
Company Shares Total: 1 Amount: $1
Class ORDINARY SHARES [ORD]
Number of Shares Issued 1
Paid Capital $1.00
Total Amount Due and Payable $0.00
Document Number 028064222
Current Shareholders
Shareholder Name NAMOI COTTON PTY LTD
ACN 161757320
ABN 38161757320
Address 1B KITCHENER STREET EAST
TOOWOOMBA QLD, 4350
Class ORD
Number Held 1
Beneficially Held Y
Fully Paid Y
Jointly Held N
Document Number 028064222
ACN 161877247
ABN 33161877247
Status Registered
Incorporation Date 09 Jan 2013
Incorporation State VIC
Registered Office LEVEL 14, 644 CHAPEL STREET
SOUTH YARRA VIC, 3141
Current Directors Total: 3
Director Name BALLENDEN, WILLIAM
Appointment Date 09 Jan 2013
Date of Birth 08 Jan 1971
Place of Birth LONDON UNITED KINGDOM
Gender UNKNOWN
Resident Overseas Y
Address -
Document Number 028301778
Director Name GREEN, ROBERT LEWIS
Appointment Date 09 Jan 2013
Date of Birth 27 Feb 1957
Place of Birth NANANGO QLD
Gender MALE
Resident Overseas N
Address 398 TONIMBUK RD, TONIMBUK
VIC 3815
Document Number 028301778
Director Name KISHEN, TIRUMALAI ANANDAM
Appointment Date 09 Jan 2013
Date of Birth 14 Nov 1965
Place of Birth CHENNAI INDIA
Gender UNKNOWN
Resident Overseas Y
Address -
Document Number 028301778
Current Secretaries Total: 1
Secretary Name LIU, CHRISTINE
Appointment Date 09 Jan 2013
Date of Birth 21 Jul 1976
Place of Birth SHANGHAI CHINA
Address UNIT 4, 242 BARKLY STREET
BRUNSWICK VIC, 3056
Document Number 028301778
Current Other Organisation Officers Total: 1
Officer Role Ultimate Holding Company
Officer Name LOUIS DREYFUS COMMODITIES B.V.
Company Shares Total: 12448990 Amount: $12,448,990
Class ORDINARY SHARES [ORD]
Number of Shares Issued 12448990
Paid Capital $12,448,990.00
Total Amount Due and Payable $0.00
Document Number 7E5795015
Current Shareholders
Shareholder Name LOUIS DREYFUS COMMODITIES
MELBOURNE HOLDINGS PTY. LTD.
Number Held 12448990
Beneficially Held Y
ACN 161877185
ABN 18161877185
Address LEVEL 14, 644 CHAPEL STREET
SOUTH YARRA VIC, 3141
Class ORD
Fully Paid Y
Jointly Held N
Document Number 7E5795015
SECURITY INTERESTS 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.
CORPORATE
OFFICE 1B Kitchener Street,
PO Box 1333, Toowoomba, QLD 4350
TELEPHONE (617) 4631 6100
FACSIMILE (617) 4631 6184
WEBSITE http://namoicotton.com.au/
WAREHOUSES RED HILL, WARREN
WEE
WAA WAREHOUSE
MACINTYRE
WAREHOUSE
BANK Not
determined
EMPLOYEES 80
The
subject is a joint venture between Namcott Marketing P/L (51%) and Louis
Dreyfus Commodities Melbourne JVP P/L.
Namcott
Marketing Pty Ltd is wholly owned by Namoi Cotton Co-Operative Ltd which was established in 1962 and today is Australia's leading cotton
processing and marketing organisation.
The subject
operates as a joint venture, which owns
and operates warehouse and commodity packing
facilities
in Wee Waa, Warren and Goondiwindi.
Activities
are conducted from premises located at the above listed trading address.
A
search of failed to trace any litigation listed against the subject at that
date.
The
subject is not required to lodge financial statements with the Australian
Securities and Investments Commission.
During
the current interview conducted with the subjects Accountant Fergus, he advised
that for the last financial year ended 28 February 2015 the subject traded
profitably and recorded revenue of $312,000,000 to $315,000,000.
On a
projected basis a slight decline in sales is forecast for the current financial
year ending 28 February 2016.
At
28 February 2015 the subject recorded total current assets of $73,000,000.
Current
liabilities at this time totalled $38,000,000.
Furthermore
at 28 February 2015 the subject recorded Working Capital of $35,000,000 and a current
ratio of 1.9 to 1.
At
this time the subject further recorded total assets of $132,000,000 and Net
Assets of $92,000,000.
A
trade survey on the subject traced the following accounts:
1. (Namoi Freight) Nominated supplier
failed to respond to correspondence despite chasing.
2. (Freightlines) Nominated supplier
failed to respond to correspondence despite chasing.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.81 |
|
UK Pound |
1 |
Rs.98.93 |
|
Euro |
1 |
Rs.69.66 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
TRU |
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.