MIRA INFORM REPORT
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Report No. : |
302712 |
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Report Date : |
10.01.2015 |
IDENTIFICATION DETAILS
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Name : |
HEAT AND CONTROL PTY. LTD. |
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Formerly Known As : |
GREER
AUSTRALIA PTY. LTD. |
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Registered Office : |
407 Creek
Road, Mount Gravatt, Queensland, Zip/postal code 4122 |
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Country : |
Australia |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
23.11.1965 |
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Com. Reg. No.: |
009742803 |
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Legal Form : |
Australian
Proprietary Company |
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Line of Business : |
Import,
manufacturing and distribution of food processing, packaging and weighing equipment and machinery |
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No. of Employees : |
488
employees |
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 30th, 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 ore, 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 |
Verified Address
Subject name :
HEAT AND CONTROL PTY. LTD.
Business
address : 407 Creek Road
Town : Mount Gravatt
Province : Queensland
Zip/postal
code : 4122
Country : Australia
Tel : +61 7 38776333
Fax : +61 7 33438371
Email : info@heatandcontrol.com
Website : www.heatandcontrol.com
Registered
address : 407 Creek Road
Town : Mount Gravatt
Province : Queensland
Zip/postal
code : 4122
Country : Australia
Postal address
: P.O. Box 57
Town : Mount Gravatt
Province : Queensland
Zip/postal
code : 4122
Country : Australia
Executive Summary
Date founded
or registered : 23/11/1965
Legal form : Australian
Proprietary Company
Chief executive
: James Mclauchlan
Strang
Issued &
paid up capital : AUD 985,457
Sales turnover
: AUD 103,552,435
(Consolidated 12 months, 31/12/2011)
Net income : AUD 3,578,163
(Consolidated 12 months, 31/12/2011)
Total fixed
assets : AUD 75,323,595
(Consolidated 12 months, 31/12/2011)
Line of
business : Import,
manufacturing and distribution of food processing, packaging and
weighing equipment and machinery.
Staff employed
: 488 employees
Company Analysis
Country risk :
Country risk
is minimal
Operation
trend : Operational
trend is steady
Management
experience : Management is
adequately experienced
Financial
performance : Financial
performance is good
Organization
structure : Organizational
structure is stable
Detrimental : No detrimental found
Payment
history : No payment
delays noted
Registry Data
Registration
date : 23/11/1965
Legal form : Australian
Proprietary Company
Registration
no Australian
Company Number: 009742803
Registered
authority : Australian
Securities & Investments Commission
Fiscal/ Tax no
: Australian
Business Number: 82009742803
Registry
status : Live/Active
Previous name
: GREER AUSTRALIA
PTY. LTD.
J. W. GREER (AUSTRALIA) PTY. LTD. (initial)
Change of
legal form : None reported.
Other
registration : ISHIDA
AUSTRALIA is a business name owned by the Subject registered on
29/02/2000 under business registration no: BN17106930.
Key Management
Name : James Mclauchlan Strang
Designation : Managing Director
Name : David Tambyah
Designation : Chief Financial Officer
Appointments
Name : Andrew Anthony Caridis
Designation : Director
Appointment
date : 22/07/77
Address : 31 Madera Ave San Carlos
CA 94070
United States of America
Biography : Born on 01-06-1921 in San
Francisco, United States of America.
Name : David Allan Tambyah
Designation : Director and Company Secretary
Appointment
date : 01/01/08
Address : 4 Littler Street
Sunnybank, QLD 4109
Australia
Biography : Born on 07-10-1960 in Colombo,
Sri Lanka.
Name : Anthony Andrew Caridis
Designation : Director
Appointment
date : 27/07/88
Address : 11 Colton Ct Redwood City
CA 94062
United States of America
Biography : Born on 04-08-1948 in San
Francisco, United States of America.
Name : James Mclauchlan Strang
Designation : Director
Appointment
date : 30/04/98
Address : Unit 57, 31 Thompson Street
Victoria Point, QLD 4165
Australia
Biography : Born on 10-03-1943 in
Dunragit, United Kingdom.
Staff employed
: 488 employees
Key Advisors
Auditors : GRANT THORNTON AUDIT PTY
LTD
Ground Floor, 102 Adelaide Street
Brisbane, QLD 4000
Australia
Solicitors : Allens Arthur Robinson
Level 28, Deutsche Bank Place
126 Phillip Street
Sydney, NSW 2000
Australia
Composition
Authorized
Capital : AUD 985,457
No of shares :
985,457 Ordinary Shares
Share par
value : AUD 1
Issued capital
: AUD 985,457
Paid up capital :
AUD 985,457
/ SHAREHOLDERS
How listed Full List
Composition
Shareholder
name : Christopher Stanley Hillery
Address : 20 Devonlea Street
Eight Mile Plains, QLD 4113
Australia
No. of shares : 3,285 Ordinary Shares
Shareholder
name : H & C INC.
Address : 21121 Cabot Blvd.
Hayward, CA 94545-1132
United States of America
No. of shares : 974,781 Ordinary Shares
Shareholder
name : James Mclauchlan Strang
Address : Unit 57, 31 Thompson Street
Victoria Point, QLD 4165
Australia
No. of shares : 7,391 Ordinary Shares
Structure
Name : HEAT AND CONTROL INC.
Affiliation
type : Ultimate
Holding Company
Address : 21121 Cabot Blvd.
Hayward, CA 94545-1132
United States of America
Comments :
Heat and
Control, Inc. designs, engineers, and manufactures food processing and
packaging
equipment to prepare and package prepared meats, poultry and
seafood,
French fries, and baked and fried snacks. It offers processing
equipment,
including batter and breading applicators, branding/searing systems,
corn
sheeting/conditioning/ovens, fryer systems, oil filters, oven systems,
pollution
control
systems, and salt and seasoning equipment; and produce unloading and
handling,
washing and dewatering, cooling and oil stripping, corn
simmering/soaking,
corn washing/grinding/pumping, peeling/inspection/slicing, oil
heating, and
oil transfer and storage products. The company also provides
packaging and
weighing equipment, including fillers, snack bag makers, tray
sealers, and
support structures; inspection systems, including metal detectors,
check
weighers, seal checkers, and X-ray inspection systems; and product
handling
equipment, including accumulation equipment, blending systems,
fastback
horizontal motion conveyors, revolution proportional gates, flex lines and
support
structures, incline transfer conveyors, product sizing products, seasoning
systems, and
vibratory conveyors. In addition, it offers control systems, including
graphic
operator interface, PLC, and relay logic systems; field and training
services; and
spare parts. The company serves industries in bakery food, candy
and
confectionery, cereal, cheese, coffee and tea, corn products and tortilla
chips,
nut meats,
prepared food, pasta, pellet snacks, plantain and banana chips, potato
chips, salads,
and snack food systems markets; and meat, poultry, and seafood
markets in the
United States and internationally. Heat and Control, Inc. was
founded in
1950 and is based in Hayward, California with manufacturing centers
in the United
States, Australia, Mexico, China, and South Africa; and regional
sales offices
in India, Malaysia, Singapore, New Zealand, Brazil, Argentina,
Canada,
Scotland, and the Netherlands.
Name : H & C INC.
Affiliation
type : Parent
Company
Address : 21121 Cabot Blvd.
Hayward, CA 94545-1132
United States of America
Name : HEAT AND CONTROL PVT.
LTD.
Affiliation
type : Wholly-owned
Subsidiary
Address : E2, 3rd Avenue, Anna Nagar
East
Chennai 600102
India
Name : HEAT AND CONTROL
LIMITED
Affiliation
type : Wholly-owned
Subsidiary
Address : Unit 1, 32 Barmac Place
East Tamaki, Auckland 2013
New Zealand
Name : HEAT AND CONTROL PTE
LTD
Affiliation
type : Sister
Company
Address : 627A Aljunied Road
#08-10 BizTech Centre
Singapore 389842
Singapore
Related companies and corporate affiliations comments
Other
companies of the Heat And Control Group should be considered affiliated
companies of the Subject.
Bank Details
Name of bank :
HSBC Bank
Australia
Address : Australia
Account
details : Current Account
Comments : It is generally not the policy
of local banks to provide credit status information to
non related parties, however interested parties would be advised
to consult first
with the Subject if banker's references are required.
Mortgages : None
reported.
Legal Fillings
Bankruptcy
fillings : None reported.
Court
judgements : None reported.
Tax liens : None reported.
Others : None
reported.
O
Description
Source of
financial statement : Commercial
Registry Filings
Financial
statement date : 31/12/11
Type of
accounts : Full audited
Currency : Australia Dollar
(AUD)
Exchange rate
: 1 USD = AUD 0.97
as of 22-04-2013
Summarized
Financial Information
Consolidation type : Consolidated
Consolidated
Currency : Australia
Dollar (AUD) Australia Dollar (AUD)
Denomination : (x1)
One (x1) One
Date of financial year end : 31/12/11
31/12/10
Length of accounts : 12
months 12 months
Sale turnover
/ Income : 103,552,435 92,211,800
Profit before
tax : 3,583,124 3,032,960
Net income : 3,578,163 2,458,248
Non current
assets : 19,095,430 15,031,911
Current assets
: 56,228,165 49,394,932
Inventories 18,322,344 15,186,232
Total assets :
75,323,595 64,426,843
Current
liabilities : 42,769,064
35,516,096
Non current
liabilities : 1,750,736 1,354,140
Total
liabilities : 44,519,800
36,870,236
Share equity :
30,803,795 27,556,607
Reserve : -1,734,220 -1,403,245
Retained
earning : 31,552,558 27,974,395
Property &
Assets
Premises
: The Subject operates
from premises at the verified heading address
consisting of a production facility, warehouse and
administrative office.
Branches : In addition, the Subject
operates from branches located at:
14 Enterprise Ct
Mulgrave, Victoria 3170
Australia
Tel: +61 3 95350100
Platinum Centre
Unit 23/ 19-26 Durian Pl
Wetherill Park, New South Wales 2164
Australia
Tel: +61 2 87882800
Other property : Total NBV of property, plant and equipment as of 31-12-2011 was AUD
9,431,056
PERATION DETAILS
Main
activities : The
Subject engages in import, manufacturing and distribution of food
processing, packaging and weighing equipment and machinery.
The Subject is ultimately owned by Heat And Control Inc. based in
United
States of America.
Heat and Control, Inc. designs, engineers, and manufactures food
processing and packaging equipment to prepare and package prepared
meats, poultry and seafood, French fries, and baked and fried
snacks. It
offers processing equipment, including batter and breading
applicators,
branding/searing systems, corn sheeting/conditioning/ovens, fryer
systems,
oil filters, oven systems, pollution control systems, and salt and
seasoning
equipment; and produce unloading and handling, washing and
dewatering,
cooling and oil stripping, corn simmering/soaking, corn
washing/grinding/pumping, peeling/ inspection/slicing, oil
heating, and oil
transfer and storage products. The company also provides packaging
and
weighing equipment, including fillers, snack bag makers, tray
sealers, and
support structures; inspection systems, including metal detectors,
check
weighers, seal checkers, and X-ray inspection systems; and product
handling equipment, including accumulation equipment, blending
systems,
fastback horizontal motion conveyors, revolution proportional
gates, flex
lines and support structures, incline transfer conveyors, product
sizing
products, seasoning systems, and vibratory conveyors. In addition,
it offers
control systems, including graphic operator interface, PLC, and
relay logic
systems; field and training services; and spare parts. The company
serves
industries in bakery food, candy and confectionery, cereal,
cheese, coffee
and tea, corn products and tortilla chips, nut meats, prepared
food, pasta,
pellet snacks, plantain and banana chips, potato chips, salads,
and snack
food systems markets; and meat, poultry, and seafood markets in
the
United States and internationally. Heat and Control, Inc. was
founded in
1950 and is based in Hayward, California with manufacturing
centers in the
United States, Australia, Mexico, China, and South Africa; and
regional
sales offices in India, Malaysia, Singapore, New Zealand, Brazil,
Argentina,
Canada, Scotland, and the Netherlands.
Product & services :
· Food Processing Equipment:
· Fryer Systems
· Oil Heating
· Oil Filters
· Oil Transfer and Storage
· Cooling & Oil Stripping
· Oven Systems
· Branding / Searing Systems
· Batter & Breading Applicators
· Produce Unloading and Handling
· Peeling / Inspection / Slicing
· Washing & Dewatering
· Corn Simmering/Soaking
· Corn Washing/Grinding/Pumping
· Corn Sheeting/Conditioning/Ovens
· In-Kitchen Seasoning Systems
·
page 12 / 17
· Spray Dynamics Seasoning Systems
· Pollution Control Systems
· Other Processing Equipment
· Packaging & Weighing Equipment
· Product Handling
· Control & Information Systems
· Packaging & Weighing Equipment:
· Multihead Weighers
· Checkweighers
· Metal Detectors-Food Products
· Metal Detectors-Pharmaceuticals
· X-ray Inspection Systems
· Snack Bagmakers
· Tray Sealers
· Inspection Systems:
· Checkweighers
· Metal Detectors-Food Products
· Metal Detectors-Pharmaceuticals
· X-ray Inspection Systems
· Seal Checkers
· Product Handling Equipment:
· Fastback Horizontal Motion Conveyors
· On-Machine Seasoning Systems
· FastBack Revolution Proportional Gate
· Vibratory Conveyors
· Blending Systems
· Controls & Information System
· Incline Transfer Conveyors
·
Product
Sizing
·
Accumulation
Equipment
·
Varilift
Bucket Conveyors
·
Flex
Lines & Support Structures
·
Seasoning
& Coating Systems:
·
In-Kitchen
Seasoning Systems
·
Spray
Dynamics Seasoning Systems
·
On-Machine
Seasoning Systems
·
Batter
& Breading Applicators
·
Control
& Information Systems
Purchases
International
: Asia
Sales
Local : Yes
International : Europe
Central bank : Reserve Bank of Australia
Reserve of foreign exchange & gold : US$ 43.879 billion
Gross domestic product – GDP : US$ 1.586 trillion
GPP (Purchasing power parity) : 954.296 billion of International dollars
GDP per capita - current prices : US$ 68,916
GDP - composition by sector : agriculture: 4% industry: 25.6% services: 70.4%
Inflation : 2009: 1.8%
2010: 2.8%
2011: 3.4%
Unemployment rate 2009: 5.6 %
2010: 5.2 %
2011:5.1 %
Public debt
(General Government gross
debt as a % GDP) 2009: 16.9%
2010: 20.4%
2011: 22.9 %
Government bond
ratings Standard
& Poor's: AAA-/Stable/A-1+
Moody's rating: Aaa
Moody's outlook: STA
Market value of publicly traded shares US$ 1.258 trillion
Largest companies in the country Commonwealth Bank (Banking), BHP Billiton (Materials), Westpac
Banking Group (Banking), Rio Tinto (Materials), National Australia Bank (Banking), ANZ Banking (Banking), Telstra (Telecommunications)
Trade & Competitiveness Overview
Total exports US$210.7
billion
Exports commodities coal,
iron ore, gold, meat, wool, alumina, wheat
Total imports US$187.2
billion
Imports commodities machinery and
transport equipment, computers and office machines, telecommunication equipment
and parts, crude oil and petroleum products
Export - major partners Japan 18.9%, China 14.2%, South Korea 8%, US 6%, NZ 5.6%, India
5.5%, UK 4.2%
Import - major partners China 15.5%, US 12.8%, Japan 9.6%, Singapore 5.6%, Germany
5.2%, UK 4.3%, Thailand 4.2%
FDI Inflows 2009: US$46,843 million
2009: US$25,716 million
2010: US$32,472 million
FDI Outflows 2008: US$33,604 million
2009: US$ 16,160 million
2010: US$26,431 million
Best countries for doing business : 10
out of 183 countries
Global competitiveness ranking : 20
(ranking by country on a basis of 142, the first is the best)
Country and Population Overview
Total population :
22.23 million
Total area :
7,692,024 km2
Capital : Canberra
Currency : Australian Dollars (AUD)
Internet users as % of total population :
76%
PAYMENT HISTORY
Purchase Term
International
: L/C, Prepayment, D/P,
Telegraphic transfer, Credit 30-90 days
Sales Term
Local : Prepayment, D/P, Bank
transfer, Credit 30-90 days
International
: L/C, Prepayment,
Telegraphic transfer, Credit 30-90 days
Trade Reference/
Payment Behaviour
Comments : As local and international trade references were not supplied, the Subject's
payment track record history cannot be appropriately determined
but based
on our research, payments are believed to be met without delay.
Investigation Note
Sources : Interviews and material
provided by the Subject
Other official and local business sources
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.39 |
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UK Pound |
1 |
Rs.94.16 |
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Euro |
1 |
Rs.73.61 |
INFORMATION DETAILS
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Report Prepared
by : |
DPT |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.