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Report No. : |
355330 |
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Report Date : |
21.12.2015 |
IDENTIFICATION DETAILS
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Name : |
TRONOX MINERAL SALES P/L |
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Registered Office : |
Lot 606 Mason Road Kwinana Beach WA, 6167 |
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Country : |
Australia |
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Date of Incorporation : |
30.09.1988 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
·
The subject operates in the sale of heavy mineral sands on
behalf of the Group in Australia. ·
Activities are conducted from premises located at the above
listed trading address. |
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No. of Employee : |
7 – 8 600 (Australian Group) |
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
|
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.
|
Source
: CIA |
TRONOX MINERAL SALES P/L
ACN 009344094
ABN 40009344094
Summary
Panel
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Established |
1988 |
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Incorporated |
1988 |
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Line of Business |
Sale of mineral sands |
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Status |
Trading |
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The subject operates in the sale of heavy mineral
sands of behalf of the Group in Australia.
The subject’s sales generate revenue in the order of US$300
million per annum.
The subject operates purely as a sales and marketing company and
carries no fixed assets.
for the financial year ended 31 December 2013 the associated
entity Tronox Pigments Ltd recorded revenue of US$445,731,928, which resulted
in an Operating Loss before tax of US$15,984,776 and an operating Loss after
tax of US$11,065,738.
Company Type Australian Proprietary Company
Status Registered
Incorporation Date 30 Sep 1988
Incorporation State WA
Registered Office LOT 606 MASON ROAD KWINANA
BEACH WA, 6167
Current Directors Total: 3
Director Name MUGLIA, RICHARD LAWRENCE
Appointment Date 28 May 2014
Date of Birth 29 Jan 1951
Place of Birth NORTH PLAINFIELD NEW
JERSEY UNITED STATES
Gender UNKNOWN
Resident Overseas Y
Address -
Document Number 7E6105432
Director Name HARPER, KATHERINE CAROLYN
Appointment Date 23 Sep 2013
Date of Birth 07 Mar 1963
Place of Birth DREXEL HILL, DELAWARE
COUNTY UNITED STATES
Gender UNKNOWN
Resident Overseas Y
Address -
Document Number 7E6203422
Director Name ORRELL, ANTHONY MARTIN
Appointment Date 15 Jun 2012
Date of Birth 06 Sep 1957
Place of Birth PERTH WA
Gender MALE
Resident Overseas N
Address 5 PERSIMMON PL, KALAMUNDA
WA 6076
Document Number 027855512
Current Secretaries Total: 2
Secretary Name WALKER, EMMA LOUISE
Appointment Date 30 Oct 2014
Date of Birth 21 Nov 1970
Place of Birth WARRINGTON UNITED KINGDOM
Address 16 CRINIA DRIVE BALDIVIS WA,
6171
Document Number 7E6485314
Secretary Name KAYE, STEVEN ANDREW
Appointment Date 28 Jan 2015
Date of Birth 05 Apr 1976
Place of Birth NEW YORK CITY UNITED
STATES
Address 61 IRVING PLACE, APARTMENT
8B NEW YORK 10003 UNITED
STATES
Document Number 7E6702590
Current Other Organisation Officers Total: 1
Officer Role Ultimate Holding Company
Officer Name TRONOX LIMITED
ACN 153348111
Appointment Date -
Address -
Document Number 027855512
Company Shares Total: 200 Amount: $200
Class ORDINARY SHARES [ORD]
Number of Shares Issued 200
Paid Capital $200.00
Total Amount Due and Payable $0.00
Document Number 025690409
Current Shareholders
Shareholder Name YALGOO MINERALS PTY. LTD.
ACN 008948383
ABN 21008948383
Address LEVEL 1, 1 BRODIE-HALL DRIVE
BENTLEY WA, 6102
Class ORD
Number Held 200
Beneficially Held Y
Fully Paid Y
Jointly Held N
Document Number 7E4780878
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.
TRADING ADDRESS 1 Brodie
Hall Dr
TECHNOLOGY
PARK, WA 6102
TELEPHONE (618)
9361 4700
FACSIMILE (618)
9361 1418
WEBSITE http://australia.tronox.com
EMAIL tony.orrell@tronox.com
ASSOCIATED ENTITY TRONOX WESTERN AUSTRALIA P/L
TRONOX
PIGMENTS LTD
ULTIMATE HOLDING
ENTITY TRONOX
LTD
PROCESSING PLANT MUCHEA, WA
PIGMENT PLANT KWINANA,
WA
BANK ANZ
BANKING GROUP
EMPLOYEES 7 –
8
600 (Australian
Group)
The subject was incorporated in Western Australia on 30 September
1988 as Colonydane P/L, changing name on 12 April 1990 to Ti-West P/L before
adopting the current style on15 June 2012.
Operations commenced in 1988 as a new venture.
The subject operates in the sale of heavy mineral sands of behalf
of the Group in Australia.
Activities are conducted from premises located at the above listed
trading address.
A search of of on 16 December 2015 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 Finance director Toney
Orrell, he advised that the subject operates in the sale of heavy mineral sands
on behalf of the Group in Australia.
The subject’s sales generate revenue in the order of US$300
million per annum.
The subject operates purely as a sales and marketing company and
carries no fixed assets.
Further details pertaining to the subject’s financial position
were unable to be obtained for the current enquiry.
for the financial year ended 31 December 2013 the associated entity
Tronox Pigments Ltd recorded revenue of US$445,731,928, which resulted in an
Operating Loss before tax of US$15,984,776 and an operating Loss after tax of
US$11,065,738.
A trade survey on the subject traced the following accounts:
1. (Mediterranean Shipping) Purchases
average $45,000 to $50,000 per month on 14 day terms. Payment is met in 14 to
20 days and the account is considered satisfactory having been known since
October 2002.
2. Nominated supplier
declined to provide a reference owing to company policy.
3. Nominated supplier
failed to respond to correspondence despite chasing.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.42 |
|
|
1 |
Rs.99.17 |
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Euro |
1 |
Rs.72.14 |
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AUD |
1 |
Rs.47.64 |
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 : |
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 |
-- |
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.