MIRA INFORM REPORT
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Report Date : |
02.01.2015 |
IDENTIFICATION DETAILS
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Name : |
INGRAM MICRO PTY LTD |
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Registered Office : |
61-71 Dunning Avenue, Rosebery
New South Wales NSW 2018 |
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Country : |
Australia |
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Financials (as on) : |
28.12.2013 |
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Date of Incorporation : |
13.01.2005 |
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Com. Reg. No.: |
112487966 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Distributor of Technology products |
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No. of Employee : |
447 (Parent consolidated) |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 – September 30, 2014
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Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
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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 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.
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Source
: CIA |
IDENTIFICATION
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EXECUTIVE SUMMARY
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Date registered: |
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Legal form: |
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AUD 1,397,382,000 (Parent consolidated 12 months,
28-12-2013) USD
32,531,208,000 (Group consolidated 12 months, 27-09-2014) |
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Main activities: |
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Employees: |
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REGISTRY DATA
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Key Facts |
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Date registered: |
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Legal form: |
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Registration no: |
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Registry auth. |
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Tax number: |
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Registry status: |
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Previous names: |
The Subject initially operated under the name of INGRAM
MICRO AUSTRALIAN HOLDCO II PTY LTD and changed to the present style on
04-03-2005. |
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LEGAL FILINGS
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Bankruptcy filings: |
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Court judgements: |
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Tax liens: |
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Other: |
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MANAGEMENT & STAFF
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Name: |
Frank Adoranti |
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Job title: |
Director |
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Name: |
John Soumbasakis |
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Job title: |
Director |
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Name: |
Matthew James Sanderson |
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Job title: |
Director |
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Name: |
Peter Charles Kendall |
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Job title: |
Director |
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Name: |
Stephen John Paine |
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Job title: |
Director |
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No of employees |
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BOARD OF DIRECTORS / OTHER APPOINTMENTS
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Maroubra, NSW
2035 Australia |
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Birth Place: Lille, France |
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Name: |
Frank Adoranti |
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Board function: |
Director |
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Date appointed: |
30-10-2008 |
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Address: |
5 Hogan Grove Castle Hill, NSW 2154 Australia |
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Biography: |
Born: 07/01/1965 Birth Place: Newcastle,, New South Wales |
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Name: |
John Soumbasakis |
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Board function: |
Director |
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Date appointed: |
01-09-2013 |
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Address: |
15 Ardmore Park # 26 - 04 Singapore 259959 Singapore |
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Biography: |
Born: 10/01/1970 Birth Place: New York, United States |
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Name: |
Matthew James Sanderson |
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Board function: |
Director |
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Date appointed: |
01-01-2013 |
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Address: |
23 Warrabina Avenue St Ives, NSW 2075 Australia |
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Biography: |
Born: 13/11/1971 Birth Place: Northampton, United Kingdom |
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Name: |
Peter Charles Kendall |
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Board function: |
Director |
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Date appointed: |
01-10-2014 |
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Address: |
30 Stirgess Avenue Curl Curl, NSW 2096 Australia |
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Biography: |
Born: 23/07/1969 Birth Place: Auckland, New Zealand |
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Name: |
Stephen John Paine |
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Board function: |
Director |
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Date appointed: |
31-10-2006 |
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Address: |
Le Grove Serviced Apartments M-206 Orang E Grove Road Singapore 258354 Singapore |
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Biography: |
Born: 17/01/1958 Birth Place: Sutton, United Kingdom |
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SHARE CAPITAL
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Composition |
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Authorised: |
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Number/type: |
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Share value: |
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Issued: |
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Paid-up: |
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Shareholders/Owners
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Rosebery, NSW 2018 Australia |
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CORPORATE AFFILIATIONS
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Santa Ana CA 92705 USA |
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Name: |
INGRAM MICRO HOLDINGS (AUSTRALIA) PTY
LIMITED |
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Affiliation
type: |
Parent Company |
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Address: |
61-71 Dunning Avenue Rosebery, NSW 2018 Australia |
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Name: |
INGRAM MICRO AUSTRALIA PTY LTD |
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Affiliation
type: |
Sister Company |
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Address: |
Australia |
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Name: |
INGRAM MICRO LANKA (PRIVATE) LIMITED |
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Affiliation
type: |
Sister Company |
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Address: |
Sri Lanka |
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Name: |
TRACK DISTRIBUTION MIDDLE EAST FZ LLC |
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Affiliation
type: |
Associate |
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Address: |
United Arab Emirates |
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Other companies of
the INGRAM MICRO INC. Group should also be considered as affiliates of the
Subject. A list of major affiliated
companies is attached to this report. |
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BANKING & FINANCING
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Bankers
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It is generally not the policy of local
banks to provide credit status information to non-bona fide applications, and
interested parties would be advised to consult first with the Subject if
banker's references are required. |
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FINANCIAL ACCOUNTS
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Description |
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Required to
file: |
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Source: |
Parent Consolidated Statements / Group
Consolidated Statements |
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Presentation: |
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Date of
accounts: |
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Type of
accounts: |
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Currency: |
US Dollar (USD) |
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Exchange rate: |
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The above parent consolidated figures
relate to the Subject's Parent Company INGRAM MICRO HOLDINGS (AUSTRALIA) PTY
LIMITED and its subsidiaries. The Subject is a part of a tax consolidated group
and does not file individual financial statements. The above group
consolidated figures relate to the Subject's Ultimate Holding Company INGRAM
MICRO INC. and its subsidiaries. |
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OPERATIONS & HISTORY
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Activities |
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Full
description: |
The Subject is engaged in offering
infrastructure solutions, such as server, storage, load balancing,
networking, licensing, and security systems and technologies. The company
also provides resellers with support in sales, technical pre-sales,
professional services, marketing, logistics, and vendor engagement. In
addition, the Subject offers technical support, financial, and product
aggregation and distribution services; and credit. It serves corporate,
education, OEM, government, SMB, and retail markets worldwide. |
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Products/services: |
Business Applications Cables Cameras & Scanners Cloud Management Services Communication & Collaboration Communications Components Computers Connectivity Devices Displays Events Gaming Home & Appliances Infrastructure Ingram Micro Logistics Input Devices Lighting Network Security Networking Office Equipment Physical Security POS/AIDC/Barcode Products Power & Rack Equipment Printed Media Printers Software Storage Supplies & Media |
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PROPERTY & ASSETS
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The Subject
principally operates from premises located at the heading address, consisting
of administrative offices. |
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PAYMENTS
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Purchase
Terms |
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Local: |
Credits 14-30 days |
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Imports: |
Credits 30 days
net |
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Local: |
Credits 14-30 days |
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Exports: |
Credits 30 days
net |
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As trade references were not supplied, the
Subject's payment track record history CANNOT BE ACCURATELY DETERMINED, but
payments are believed to be PROMPT. |
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INVESTIGATIVE
NOTES
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Sources: |
Interviews and material provided by the Subject Other official
and local business sources |
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ATTACHMENTS
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Attachments: |
Parent consolidated financial statements Group
consolidated financial statements List of
affiliated companies |
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Income
Statement for INGRAM MICRO HOLDINGS ( |
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for
the year ended 28-12-2013 |
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AUD
'000' |
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2013 |
2012 |
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Net
revenues from sales |
1,397,382 |
1,222,840 |
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Other
income |
0 |
37 |
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Cost
of goods sold |
-1,321,587 |
-1,164,802 |
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Employee
benefits expenses |
-43,835 |
-47,778 |
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Depreciation
and amortisation expenses |
-37,723 |
-3,966 |
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Occupancy |
-9,537 |
-11,398 |
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Freight
out expenses |
-7,218 |
-9,644 |
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Other
expenses |
-31,153 |
-25,300 |
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Foreign
exchange losses |
-811 |
-966 |
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Finance
costs |
-10,703 |
-14,832 |
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(Loss)
before income tax |
-31,185 |
-55,809 |
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Income
tax(expenses) /credit |
4 |
-22,775 |
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(Loss)
for the period |
-31,181 |
-81,584 |
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Balance
sheet for INGRAM MICRO HOLDINGS
(AUSTRALIA) PTY LIMITED |
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for
the year ended 28-12-2013 |
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AUD
'000' |
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2013 |
2012 |
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Non-current
assets |
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Property,
plant and equipment |
24,555 |
25,355 |
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Capitalised
software |
2,696 |
0 |
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Intangible
assets |
1,142 |
1,352 |
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Other
non-current assets |
305 |
801 |
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Total
non-current assets |
28,698 |
27,508 |
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Current
assets |
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Cash
and cash equivalents |
19,996 |
20,524 |
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Receivables |
299,356 |
214,636 |
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Inventory |
121,313 |
100,891 |
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Current
tax receivables |
124 |
0 |
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Total
current assets |
440,789 |
336,051 |
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Total
Assets |
469,487 |
363,559 |
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Current
liabilities |
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Payables
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298,106 |
311,551 |
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Provisions |
5,390 |
3,165 |
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Interest
bearing liabilities |
134,093 |
185,863 |
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Total
current liabilities |
437,589 |
500,579 |
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Non-current
liabilities |
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Provisions |
904 |
730 |
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Total
non-current liabilities |
904 |
730 |
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Total
Liabilities |
438,493 |
501,309 |
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Net
assets |
30,994 |
-137,750 |
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Equity
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Contributed
equity |
342,206 |
144,466 |
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Reserves |
73,686 |
71,501 |
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Retained
earnings / (accumulated loss) |
-384,898 |
-353,717 |
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Capital
and reserves attributable to the owners of
INGRAM MICRO |
30,994 |
-137,750 |
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HOLDINGS
(AUSTRALIA) PTY LIMITED and its
controlled entity |
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Total
equity / (accumulated loss) |
30,994 |
-137,750 |
List of affiliates
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.32 |
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1 |
Rs.98.63 |
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Euro |
1 |
Rs.76.59 |
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
DPT |
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.