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Report No. : |
319860 |
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Report Date : |
02.05.2015 |
IDENTIFICATION DETAILS
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Name : |
TCL AUSTRALIA PTY LTD |
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Registered Office : |
146 Woodlands
Drive, Braeside, Victoria 3195 |
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Country : |
Australia |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
28.02.2000 |
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Legal Form : |
Australian
Proprietary Company |
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Line of Business : |
Subject is engaged in import and distribution of packaging supplies, polymers, pharmaceuticals and food and beverage products |
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No. of Employee : |
17 |
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 : |
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 – December 31, 2014
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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 2014, Australia had experienced more than 20 years of continued economic growth, averaging more than 3% 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 |
TCL AUSTRALIA PTY
LTD
T/AS TCL HOFMANN
ACN: 091 773 330
ABN: 39 091 773
330
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Summary Panel |
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Established |
1984 |
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Incorporated |
2000 |
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Status |
Trading |
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Line of Business
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import
and distribution of packaging supplies, polymers, pharmaceuticals and
food and beverage products |
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Adverse Listings |
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For the financial year ended 31 March 2014 the subject recorded revenue
of $27,327,631, which resulted in an operating profit before tax of $1,5942,879
and an operating profit after tax of $1,069,576 representing a Net Profit
Margin of 3.91%.
During fiscal 2014, the subject recorded Net Cashflows from operating
activities totalling $425,952.
As at 31 March 2014 the subject recorded Working Capital of $4,596,353
and a current ratio of 1.84 to 1 indicating sound liquidity levels.
Net Assets totalled $6,834,411 as at 31 March 2014. After deducting
intangibles of $3,500,000 this results in a Net Worth of $3,334,411.
Company Type Australian Proprietary
Company
Incorporation
Date: 28 Feb 2000
Incorporation
State: New South Wales
Registered Office 146 WOODLANDS
Drive
BRAESIDE,
Victoria 3195 Australia
Number of Shares
Issued: 2000000
Paid Capital: 2000000
TCL HUNTLIMITED
Number
of Shares: 2000000
WALLACE, TIMOTHY JOHN
Appointment Date: 4 Feb 2014
Date of Birth: 07.10.1969
Gender: Male
Address: 412/Australia
Resident Overseas: Yes
HANCOCK, JOSEPH DAMIEN
Appointment Date: 30 Jun 2005
Date of Birth: 05 May 1962
Gender: Male
Address: 2A COATES Street BENTLEIGH, Victoria 3204 Australia
Resident Overseas: No
FRASER, TIMOTHY WARREN
Appointment Date: 28 Feb 2000
Date of Birth: 11 May 1960
Gender: Male
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.
TRADING ADDRESS 146
Woodlands Dr
BRAESIDE,
VIC 3195
TELEPHONE (613) 8586 2913
WEBSITE http://www.tclhofmann.com.au
EMAIL sales@tclhofmann.com.au
HOLDING ENTITY TCL
HUNT LTD
TRADING STYLE TCL
HOFMANN
BANK WESTPAC
BANK
EMPLOYEES 17
The subject was incorporated in New South
Wales on 28 February 2000 under the currents style.
TCL
Hofmann was formed in 2004 through the acquisition of Hofmann & Co by TCL
Australia P/L.
Hofmann
& Co was founded 1984
in Melbourne by Fred Hofmann, the company was originally a wholly-owned
family business.
The holding entity TCL Marketing Ltd was
established in New Zealand in 1937 and is now a major supplier of raw materials
and finished products to manufacturers and distributors in Australia and New
Zealand.
TCL Hofmann has established offices in Sydney &
Melbourne, whilst the sister company TCL Marketing has offices in Auckland,
Christchurch and Wellington. Over time our success has developed from offering
the highest level of service, quality and integrity to our customers.
On 31 January 2014 the shares in the holding entity
TCL Hunt Ltd changed ownership as a part of a management buyout.
The subject operates as a trading company, involved in the import and distribution
of a wide range of high quality technical products (raw materials,
semi-finished products and equipment) from around the globe to many differing
industries.
Products include packaging supplies,
polymers, pharmaceuticals, food and beverage products, foam and can making
components.
Activities are conducted from premises
located at the above listed trading address.
A search of of on 28 April 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 contact with the subject’s financial
controller was unable to be established. Despite messages being left, a reply
is yet to be received.
For the financial year ended 31 March 2014
the subject recorded revenue of $27,327,631, which resulted in an operating
profit before tax of $1,5942,879 and an operating profit after tax of
$1,069,576 representing a Net Profit Margin of 3.91%.
Despite difficult trading conditions the
subject was able to increase sales during the year. Strong competition however
put pressure on gross margin percentage.
Below is a summary of the subject’s income results
for the past two financial years.
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TCL Australia Pty Ltd |
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As at 31 March 2014 |
As at 31 March 2013 |
Change (%) |
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Revenue |
$27,327,631.00 |
$25,595,659.00 |
6.77% |
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Profit b/tax |
$1,542,879.00 |
$1,206,714.00 |
27.86% |
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Profit a/tax |
$1,069,576.00 |
$842,053.00 |
27.02% |
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Net Profit Margin |
3.91% |
3.29% |
0.62% |
During fiscal 2014, the subject recorded Net
Cashflows from operating activities totalling $425,952.
As at 31 March 2014 the subject recorded total
current assets of $10,085,234. They included cash of $1,489, receivables of
$5,081,870 and inventories of $4,477,972.
Current liabilities at the same date
totalled $5,488,881 and included payables of $5,080,579 and provisions of
$210,506.
As at 31 March 2014 the subject recorded
Working Capital of $4,596,353 and a current ratio of 1.84 to 1 indicating sound
liquidity levels.
Net Assets totalled $6,834,411 as at 31
March 2014. At this date, the subject further recorded a Debt to Equity ratio
of 1.05 to 1. After deducting intangibles of $3,500,000 this results in a Net
Worth of $3,334,411.
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TCL Australia Pty Ltd |
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As at 31 March 2014 |
As at 31 March 2013 |
Change (%) |
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Revenue |
$27,327,631.00 |
$25,595,659.00 |
6.77% |
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Profit b/tax |
$1,542,879.00 |
$1,206,714.00 |
27.86% |
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Profit a/tax |
$1,069,576.00 |
$842,053.00 |
27.02% |
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Net Profit Margin |
3.91% |
3.29% |
0.62% |
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Current Assets |
$10,085,234.00 |
$8,488,991.00 |
18.80% |
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Non Current Assets |
$3,898,536.00 |
$3,939,636.00 |
-1.04% |
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Total Assets |
$13,983,770.00 |
$12,428,627.00 |
12.51% |
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Current Liabilities |
$5,488,881.00 |
$4,427,256.00 |
23.98% |
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Non Current Liabilities |
$1,660,478.00 |
$736,535.00 |
125.44% |
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Total Liabilities |
$7,149,359.00 |
$5,163,791.00 |
38.45% |
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Net Assets |
$6,834,411.00 |
$7,264,836.00 |
-5.92% |
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Working Capital |
$4,596,353.00 |
$4,061,735.00 |
13.16% |
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Current Ratio |
1.84 |
1.92 |
-4.17% |
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Debt to Equity |
1.05 |
0.71 |
47.17% |
Trade payment from further sources in the past 4 months have traced the
following data for the subject.
Total Owing: $517
Total Past Due: $9
Average Late Payment Days: 8
All Industries Late Payment
Days: 9
-
Within
terms: $508
-
1 – 30
days past due: $9
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31 – 60
days past due: $0
-
61 – 90
days past due: $0
-
91+
days: $0
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.58 |
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|
1 |
Rs.97.99 |
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Euro |
1 |
Rs.70.53 |
INFORMATION DETAILS
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Analysis Done by
: |
SUB |
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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 |
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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.