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Report No. : |
331209 |
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Report Date : |
11.07.2015 |
IDENTIFICATION DETAILS
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Name : |
VIADUX PTY LTD |
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Registered Office : |
'Governor Phillip Tower' Level 29, 1 Farrer Place Sydney Nsw, 2000 |
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Country : |
Australia |
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Date of Incorporation : |
04.05.1999 |
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Legal Form : |
Australian
Proprietary Company |
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Line of Business : |
Manufacture of pipeline systems |
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No. of Employee : |
Not Available |
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 : |
Unknown |
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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) |
|
Australia |
A1 |
A1 |
|
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 Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New
Zealand, Peru, Singapore, the US, and Vietnam.
|
Source
: CIA |
NAME GIVEN VIADUX
SHARED SERVICES
SPECIAL
NOTE A search of failed to trace any registered entity under
the given style. Further investigations revealed that the subject is an
operational division of Viadux Pty Ltd.
REGISTERED NAME VIADUX PTY LTD
ACN 087415745
ABN 75087415745
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Summary Panel |
||
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Incorporated |
1999 |
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Line of Business |
manufacture of pipeline systems |
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Status |
Trading |
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Adverse Listings |
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Effective 23
January 2015 the subject was acquired by Crescent Capital Partners. The cost of
the acquisition has been estimated at $100,000,000.
Details pertaining to
the subject’s financial position were unable to be obtained for the current
enquiry.
Enquiries in trade
quarters revealed satisfaction from one supplier contacted in dealing with the
subject on a credit basis.
Company Type Australian
Proprietary Company
Status Registered
Incorporation Date 04 May
1999
Incorporation State NSW
Registered Office 'GOVERNOR
PHILLIP TOWER'
LEVEL 29, 1 FARRER PLACE
SYDNEY NSW, 2000
Current Directors Total: 2
Director Name BUCH, NEVILLE
Appointment Date 23 Jan 2015
Date of Birth 03 Feb 1958
Place of Birth JOHANNESBURG
SOUTH
AFRICA
Gender MALE
Resident Overseas N
Address 28 GORDON AVE, COOGEE NSW
2034
Document Number 029147315
Director Name VERLAINE, PATRICK
Appointment Date 23 Jan 2015
Date of Birth 29 Apr 1979
Place of Birth JOHANNESBURG SOUTH
AFRICA
Gender MALE
Resident Overseas N
Address 1 CLIFTON RD, CLOVELLY NSW
2031
Document Number 029147315
Current Secretaries Total: 1
Secretary Name LYON-MERCADO, PETER
Appointment Date 23 Jan 2015
Date of Birth 17 Jun 1969
Place of Birth WORCESTER UNITED KINGDOM
Address UNIT 6, 275 EDGECLIFF ROAD
WOOLLAHRA NSW, 2025
Document Number 029147315
Company Shares Total: 228820002 Amount: $228,820,002
Class ORDINARY [ORD]
Number of Shares Issued 228820002
Paid Capital $228,820,002.00
Total Amount Due and Payable $0.00
Document Number 7E6175658
Current Shareholders
Shareholder Name CRESCENT IV BIDCO PTY LIMITED
ACN 603305326
ABN 42603305326
Address 'GOVERNOR PHILLIP TOWER'
LEVEL 29, 1 FARRER PLACE
SYDNEY NSW, 2000
Class ORD
Number Held 228820002
Beneficially Held Y
Fully Paid Y
Jointly Held N
Document Number 029147315
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 Level 3
60
Macquarie St
PARRAMATTA,
NSW 2150
POSTAL ADDRESS PO Box 141
FAIRFIELD,
QLD 1851
TELEPHONE (612) 9633 8007
HOLDING ENTITY CRESCENT IV BIDCO PTY LIMITED
ULTIMATE HOLDING
ENTITY CRESCENT
CAPITAL PARTNERS
BRANCHES The
subject maintains 8 branches across Australia and New Zealand including premise at 63 Currumbin Creek Rd, Currumbin,
QLD 4223.
BANK Not determined
EMPLOYEES Not determined
The subject was
incorporated in New South Wales on 4 May 1999 as Sorrito Enterprises P/L
changing name to Tyco Water Pty Ltd, changing name to Pentair Water Solutions
on 30 November 2012, changing name to PWS Water Systems Pty Ltd before adopting
the current style on 20 March 2015.
On 27 March 2012
the ultimate holding entity (Pentair Inc) and Tyco International Ltd entered
into a merger agreement. The merger is valued at $4.9 billion and combines
Tycos Flow control business with Pentair.
Effective 23
January 2015 the subject was acquired by Crescent Capital Partners.
The subject
operates in the supply and manufacture of pipeline systems and services to the
water industry.
Products including
pipeline components, valves and pipeline systems.
The shared services
operational activities are involved in undertaking the central administration
functions of the company.
Activities are
conducted from premises located at the above listed trading address.
A search of records
of on 8 July 2015 traced the following litigation listed against the subject at
that date.
Court Writs Total: 1 Amount: $36,222
Action Date 16 Sep 2014
Amount $36,222.00
Creditor COOLQUIP PTY LTD
Plaint Number 16519/14/WPER
Court Type Magistrates Court
Role in Court Action Principal
Co-Borrower -
Status Discontinued
Status Date 17 Jun 2015
Writ Type SUMMONS
The subject is not
required to lodge financial statements with the Australian Securities and
Investments Commission.
During the current
investigation contact with the subject’s financial controller was unable to be
established. Despite messages being left no reply has been received.
In an interview
conducted with the subject’s accounts manager, she confirmed that effective 23
January 2015 the subject was acquired by Crescent Capital Partners. The cost of
the acquisition has been estimated at $100,000,000.
Details pertaining
to the subject’s financial position were unable to be obtained for the current
enquiry.
Enquiries in trade
quarters revealed satisfaction from suppliers contacted in dealing with the
subject on a credit basis.
A trade survey on
the subject traced the following accounts:
1. (Elster Metering) Purchases average
$300,000 per annum on 30 day terms. Payment is met in 30 to 37 days and the
account is considered satisfactory having been known since September 1991.
2. (Iplex) Nominated supplier failed to
respond to correspondence despite chasing.
Trade payment
records from further sources in the past 4 months have traced the following
data for the subject.
Total Owing: $173,738
Total Past Due: $110,830
Average Late Payment Days: 17
All Industries Late Payment Days: 9
Within terms:
$62,908
1 – 30 days past
due: $95,069
31 – 60 days past
due: $8,762
61 – 90 days past
due: $0
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.38 |
|
|
1 |
Rs.97.65 |
|
Euro |
1 |
Rs.70.43 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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Report Prepared
by : |
SDA |
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 |
|
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 |
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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 |
|
<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.