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Report No. : |
332995 |
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Report Date : |
25.07.2015 |
IDENTIFICATION DETAILS
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Name : |
PROCHEM PIPELINE PRODUCTS PTY LTD |
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Registered Office : |
27 Lisbon St, Villawood, NSW 2163 |
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Country : |
Australia |
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Year of Establishment : |
1956 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Subject is manufacture and distribution of stainless steel products
including pipe fittings, flanges and associated products. |
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No. of Employee : |
106 (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.
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Source
: CIA |
PROCHEM PIPELINE
PRODUCTS PTY LTD
ACN: 000 337 824
ABN: 74 000 337
824
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Summary Panel |
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Established |
1956 |
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Incorporated |
1960 |
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Line of Business
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manufacture and distribution of stainless steel products |
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Status |
Trading |
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Adverse Listings |
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Rating |
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Current financial details pertaining to the subject were unable to be
obtained.
For year ended
30 June 2014, the Group recorded revenue of $50,000,000 to $60,000,000.
Enquiries in trade quarters revealed satisfactory payment patterns from
suppliers in dealing with the subject on a credit basis.
Company Type Australian
Proprietary Company
INCORPORATED 28
September 1960
REGISTERED ADDRESS 27
Lisbon St
VILLAWOOD,
NSW 2163
SHARECAPITAL $400
SHAREHOLDERS Prochem
Pipeline Products (NSW) P/L Holds 200
shares
DIRECTORS WINTER, Peter John
60A
Gunbower Rd
ARDROSS,
WA 6163
RICHMOND,
Philip Lawrence
1,
4 Pacific St
CARINGBAH
SOUTH, NSW 2229
SECRETARY LEVY,
Gerard
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.
HEAD OFFICE 27
Lisbon St
VILLAWOOD,
NSW 2163
TELEPHONE (612) 9727 0044
FACSIMLE (612)
9728 6766
WEBSITE www.prochem.com.au
EMAIL gberry@prochem.com.au
GROUP BRANCHES HINDMARSH, SA
VIRGINIA,
QLD
DERWENT PARK, SA
DANDENONG SOUTH, VIC
VILLAWOOD, NSW
SINGAPORE
THAILAND
HOLDING ENTITY PROCHEM
PIPELINE PRODUCTS (NSW) P/L
ULTIMATE HOLDING
ENTITY PROCHEM
GROUP HOLDINGS P/L
BANK ANZ
BANKING GROUP
EMPLOYEES 106
(Group)
The subject was incorporated in New South Wales on 28 September 1960,
before adopting the current style on 12 July 2005.
The subject was formed to take over the assets and operations of an
existing business, in a management buyout in 2003.
Operations were established in 1956.
The subject operates in the manufacture and distribution of stainless
steel products including pipe fittings, flanges and associated products.
The subject stock an extensive range of Stainless Steel and alloy piping
products in various sizes and grades including
include: Fittings; Flanges; Pipe; Tube; and Valves.
Activities are conducted from premises located at the above listed
trading address.
A search of of
on 20 July 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 investigation, all queries pertaining to the subject
were forwarded to Company Secretary Graham Llewellyn-Berry. Contact with Mr
Berry was unable to be established for the current enquiry. Despite numerous
messages being left, no reply has been received.
As a result current financial details pertaining to the subject were
unable to be obtained.
Further
investigations have revealed that for year ended 30 June 2014, the Group
recorded revenue of $50,000,000 to $60,000,000.
For this period
the associated entity, Prochem Pipeline Products WA contributed revenue of
$25,000,000 to $30,000,000.
For the year ended 30 June 2010, the group recorded revenue of just
under $50,000,000.
Enquiries in trade quarters revealed satisfactory payment patterns from
suppliers in dealing with the subject on a credit basis.
During the current investigation, contact with the subject’s principals
was unable to be established.
Subsequently details pertaining to the company’s suppliers were unable to
be obtained and a trade survey could not be conducted.
Trade payment from
further sources in the past 4 months have traced the following data for the
subject.
Total Owing: $12,335
Total Past Due: $700
Average Late Payment Days: 2
All Industries Late Payment Days: 7
Within terms:
$11,635
1 – 30 days past
due: $700
31 – 60 days
past due: $0
61 – 90 days
past due: $0
91+ days: $0
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.89 |
|
|
1 |
Rs.99.10 |
|
Euro |
1 |
Rs.70.12 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
ASH |
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.