MIRA INFORM REPORT
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Report No. : |
352458 |
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Report Date : |
04.12.2015 |
IDENTIFICATION DETAILS
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Name : |
NIDERA AUSTRALIA PTY LTD |
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Formerly Known As : |
PENTAG NIDERA PTY LTD |
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Registered Office : |
1B Kitchener Street Toowoomba Qld,
4350 |
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Country : |
Australia |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
17.02.2005 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
The subject operates as
a grain trading company, primarily dealing in, sorghum,
wheat, barley and chickpeas (and also to a lesser extent cotton seed and
birdseed, such as sunflower and millet) |
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No. of Employee : |
11 |
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 : |
Slow but correct |
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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, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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
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.
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Source
: CIA |
NOTE
On 30 October 2015 the subject changed name to Nidera
Australia Pty Ltd.
Company
NAME
NIDERA AUSTRALIA PTY LTD
ACN: 113 005 753
ABN: 25 113 005 753
Summary
Panel
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Established |
2005 |
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Incorporated |
2005 |
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Line of Business |
Commodities trading |
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Status |
Trading |
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Adverse Listings |
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EXECUTIVE
SUMMARY
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Nidera Australia Pty Ltd |
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As at 31 Dec 2014 - 3 months |
As at 30 sep 2014 - 12 months |
Change (%) |
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Revenue |
$135,959,814.00 |
$531,931,703.00 |
-74.44% |
|
Profit b/tax |
$1,288,891.00 |
($2,567,035.00) |
-150.21% |
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Profit a/tax |
$898,014.00 |
($1,836,574.00) |
-148.90% |
|
Net Profit Margin |
0.66% |
-0.35% |
1.01% |
During fiscal 2014, the subject recorded a deficiency in Net
Cashflows from operating activities totalling $3,748,524.
As at 31 December 2014 the subject recorded a deficiency in
Working Capital of $931,920 and a current ratio of 0.99 to 1.
Net Assets totalled $4,725,295 as at 31 December 2014. At this
date, the subject further recorded a Debt to Equity ratio of 28 to 1.
CORPORATE SEARCH
Company Type Australian Proprietary Company
Status Registered
Incorporation Date 17 Feb 2005
Incorporation State QLD
Registered Office 1B KITCHENER STREET
TOOWOOMBA QLD, 4350
Current Directors Total: 4
Director Name LENGREN, DAVID CYRIL
Appointment Date 23 Oct 2015
Date of Birth 20 Sep 1962
Place of Birth DALBY QLD
Gender MALE
Resident Overseas N
Address 15 PURNAWILLA CT, MIDDLE
RIDGE QLD 4350
Document Number 7E7432466
Director Name COYLE, THOMAS PATRICK
Appointment Date 24 Apr 2014
Date of Birth 30 Dec 1956
Place of Birth CHICAGO, ILLINOIS UNITED
STATES
Gender UNKNOWN
Resident Overseas Y
Address -
Document Number 7E6015635
Director Name MARTINS, MARCELO LUIS
Appointment Date 24 Apr 2014
Date of Birth 05 Sep 1969
Place of Birth SAO PAULO BRAZIL
Gender UNKNOWN
Resident Overseas Y
Address -
Document Number 7E6004725
Director Name LIM, BOON KIAT
Appointment Date 21 Apr 2014
Date of Birth 04 Sep 1970
Place of Birth SINGAPORE SINGAPORE
Gender UNKNOWN
Resident Overseas Y
Address -
Document Number 7E6004725
Current Secretaries Total: 1
Secretary Name FINLAYSON, MALCOLM
ANDREW
Appointment Date 19 Sep 2007
Date of Birth 28 Jul 1961
Place of Birth EASTWOOD NSW
Address 60 ORATAVA AVENUE WEST
PENNANT HILLS NSW, 2125
Document Number 023999487
Company Shares Total: 3527929 Amount
$3,527,929
Class ORDINARY [ ORD ]
Number of Shares Issued 3527929
Paid Capital $3,527,929.00
Total Amount Due and Payable $0.00
Document Number 7E4449633
Current Shareholders
Shareholder Name NIDERA B.V.
Address WILLEMSPLEIN 492 3016 DR
ROTTERDAM, NETHERLANDS
NETHERLANDS
Class ORD
Number Held 3527929
Beneficially Held Y
Fully Paid Y
Jointly Held N
Document Number 7E7438549
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.
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).
Please contact us should you require a search of the PPSR.
BUSINESS STRUCTURE
TRADING ADDRESS 1B
Kitchener St
TOOWOOMBA,
QLD 4350
TELEPHONE (617)
4639 5555
FACSIMILE (617)
4639 5055
WEBSITE http://www.nidera.com/
BANK BANK
OF QUEENSLAND
EMPLOYEES 11
BACKGROUND
The subject was incorporated in Queensland on 17 February 2005 as Maxigrain
P/L, changing style on 11 April 2005 to Pentag Commodities Pty Ltd changing
name to Pentag Nidera Pty Ltd before adopting the current style on 30 October
2015..
Operations were founded as a new venture in June 2005.
In 2015 Nidera acquired all shares of
PentAG Nidera. PentAG Nidera was founded in 2005 by a group of experienced
grain industry associates.
Global operations of Nidera were founded in the Netherlands in
1920.
OPERATIONS
The subject operates as a grain trading company, primarily dealing in, sorghum, wheat, barley and chickpeas (and
also to a lesser extent cotton seed and birdseed, such as sunflower and millet.
Activities are conducted from premises located at the above listed
trading address.
ADVERSE
A search of of on 30 November 2015 failed to trace any litigation
listed against the subject at that date.
FINANCES
The accounts for the last financial year are for the 3 months
ended 31 December 2014. This resulted from a change in balance date from 30
September to 31 December.
From the subjects most recently lodged financial statements, it is
noted that for the financial year ended 31 December 2014 the subject recorded
revenue of $135,959,814 , which resulted in an operating profit before tax of
$1,288,891 and an operating profit after tax of $898,014 representing a Net
Profit Margin of 0.66%.
Below is a summary of the subject’s income results for the past
two financial years.
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Nidera Australia Pty Ltd |
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As at 31 Dec 2014 - 3 months |
As at 30 sep 2014 - 12 months |
Change (%) |
|
Revenue |
$135,959,814.00 |
$531,931,703.00 |
-74.44% |
|
Profit b/tax |
$1,288,891.00 |
($2,567,035.00) |
-150.21% |
|
Profit a/tax |
$898,014.00 |
($1,836,574.00) |
-148.90% |
|
Net Profit Margin |
0.66% |
-0.35% |
1.01% |
During fiscal 2014, the subject recorded a deficiency in Net
Cashflows from operating activities totalling $3,748,524.
As at 31 December 2014 the subject recorded total current assets of
$132,685,402. They included cash of $223,301, receivables of $27,581,678 and
inventories of $75,632,429.
Current liabilities at the same date totalled $133,617,322 and included payables of $72,997,494 and
financial liabilities of $30,692,927 and derivative financial instruments of
$29,147,659.
As at 31 December 2014 the subject recorded a deficiency in
Working Capital of $931,920 and a current ratio of 0.99 to 1.
Enquiries in trade quarters revealed satisfaction from
one supplier contacted in dealing with the subject on a credit basis.
Net Assets totalled $4,725,295 as at 31 December 2014. At this
date, the subject further recorded a Debt to Equity ratio of 28 to 1.
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Nidera Australia Pty Ltd |
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As at 31 Dec 2014 - 3 months |
As at 30 sep 2014 - 12 months |
Change (%) |
|
Revenue |
$135,959,814.00 |
$531,931,703.00 |
-74.44% |
|
Profit b/tax |
$1,288,891.00 |
($2,567,035.00) |
-150.21% |
|
Profit a/tax |
$898,014.00 |
($1,836,574.00) |
-148.90% |
|
Net Profit Margin |
0.66% |
-0.35% |
1.01% |
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Current Assets |
$132,685,402.00 |
$66,150,212.00 |
100.58% |
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Non Current Assets |
$5,732,787.00 |
$6,557,973.00 |
-12.58% |
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Total Assets |
$138,418,189.00 |
$72,708,185.00 |
90.37% |
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Current Liabilities |
$133,617,322.00 |
$68,828,236.00 |
94.13% |
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Non Current Liabilities |
$75,572.00 |
$72,515.00 |
4.22% |
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Total Liabilities |
$133,692,894.00 |
$68,900,751.00 |
94.04% |
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Net Assets |
$4,725,295.00 |
$3,807,434.00 |
24.11% |
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Working Capital |
($931,920.00) |
($2,678,024.00) |
-65.20% |
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Current Ratio |
0.99 |
0.96 |
3.32% |
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Debt to Equity |
28.29 |
18.10 |
56.35% |
TRADE SURVEY
Trade payment from further sources in the past 4 months have
traced the following data for the subject.
Total Owing: $265
Total Past Due: $0
Average Late Payment Days:
0
All Industries Late
Payment Days: 7
Within terms: $265
1 – 30 days past due: $0
31 – 60 days past due: $0
61 – 90 days past due: $0
91+ days: $0
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.66.75 |
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|
1 |
Rs.99.61 |
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Euro |
1 |
Rs.70.67 |
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AUD |
1 |
Rs.48.88 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared by
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TRU |
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.