MIRA INFORM REPORT
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Report No. : |
324982 |
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Report Date : |
30.05.2015 |
IDENTIFICATION DETAILS
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Name : |
HEAT AND CONTROL PTY. LTD. |
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Formerly Known As : |
GREER AUSTRALIA PTY. LTD. J. W. GREER (AUSTRALIA) PTY. LTD. |
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Registered Office : |
407 Creek Road, Mt. Gravatt Brisbane Queensland QLD 4122 |
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Country : |
Australia |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
23.11.1965 |
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Com. Reg. No.: |
ACN: 009742803 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Manufactures and Supplies of Food Processing and Packaging Equipment. |
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No. of Employees : |
506 (Subject) ; 1,000+ (Worldwide) |
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
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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Subject name: |
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Address: |
Mt. Gravatt |
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Town: |
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State/province: |
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Zip/postal code: |
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Country: |
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Telephone: |
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Fax: |
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Website: |
www.heatandcontrol.com (Group) |
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EXECUTIVE SUMMARY
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Date registered: |
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Legal form: |
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Main activities: |
Manufactures and supplies food processing and
packaging equipment. |
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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: |
J. W. GREER (AUSTRALIA)
PTY. LTD. Changed to the
present style on 02/02/1985. |
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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: |
Anthony Andrew Caridis |
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Job title: |
Director |
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Name: |
James McLauchlan Strang |
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Job title: |
Director |
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Name: |
David Allan Tambyah |
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Job title: |
Director and Company Secretary |
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Auditor: |
Level 18 145-147 Ann
Street Brisbane, QLD
4000 Australia |
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No of employees |
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BOARD OF
DIRECTORS / OTHER APPOINTMENTS
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San Carlos, CA
94070 USA |
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Birth Place: San Francisco, United States |
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Name: |
Anthony Andrew Caridis |
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Board function: |
Director |
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Date appointed: |
27/07/1988 |
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Address: |
28 Sky Terrace Danville, CA 94526 USA |
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Biography: |
Born: 04/08/1948 Birth Place: San Francisco, United States |
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Name: |
James McLauchlan Strang |
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Board function: |
Director |
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Date appointed: |
30/04/1998 |
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Address: |
Unit 57 31 Thompson Street Victoria Point, QLD 4165 Australia |
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Biography: |
Born: 10/03/1943 Birth Place: Dunragit, United Kingdom |
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Name: |
David Allan Tambyah |
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Board function: |
Director and Company Secretary |
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Date appointed: |
01/01/2008 |
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Address: |
4 Littler Street Sunnybank, QLD 4109 Australia |
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Biography: |
Born: 07/10/1960 Birth Place: Colombo, Sri Lanka |
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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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Hayward, CA 94545 USA |
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Name: |
James McLauchlan Strang |
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No. of shares: |
7,391 ordinary shares |
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Address: |
Unit 57 31 Thompson Street Victoria Point, QLD 4165 Australia |
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Name: |
Christopher Stanley Hillery |
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No. of shares: |
3,285 ordinary shares |
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Address: |
20 Devonlea Street Eight Mile Plains, QLD 4113 Australia |
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CORPORATE AFFILIATIONS
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Hayward, CA 94545 USA |
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Name: |
HEAT AND CONTROL LIMITED |
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Affiliation
type: |
Wholly-owned Subsidiary |
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Address: |
Unit 1, 32 Barmac Place East Tamaki Auckland 2013 New Zealand |
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Name: |
HEAT & CONTROL PTE LTD |
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Affiliation
type: |
Subsidiary |
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Address: |
627A Aljunied Road #08-10 BizTech Centre Singapore 389842 Singapore |
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Name: |
HEAT AND CONTROL CANADA INC |
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Affiliation
type: |
Associate |
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Address: |
1111 Franklin Blvd, Unit 13 Cambridge, ON N1R 8B5 Canada |
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Name: |
HEAT AND CONTROL SA (PTY) LTD |
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Affiliation
type: |
Associate |
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Address: |
La Belle Industrial Park, Unit 9 La Belle/Willow Road, Stikland 7530 Bellville South Africa |
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Other companies
of the HEAT AND CONTROL Group should also be considered as affiliates of the
Subject. |
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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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Required to
file: |
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Source: |
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Presentation: |
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Date of
accounts: |
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Type of
accounts: |
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Currency: |
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Exchange rate: |
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OPERATIONS & HISTORY
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Full
description: |
The Subject is engaged in the manufacture
and supply of food processing and packaging equipment to prepare and package
prepared meats, poultry and seafood, french fries, baked and fried snacks,
and other food products. Its food processing equipment include
fryer systems and related equipment, oven systems, branding/searing systems,
batter and breading applicators, potato preparation systems, corn products
systems, seasoning and coating systems, energy saving and pollution control
systems, and other processing equipment; and packaging and weighing equipment
comprise multihead weighers, snack bag makers, tray sealers, support
structures, fillers, on-machine seasoning systems, and other packaging
equipment. The company also provides inspection
systems, such as check weighers, metal detectors for food products and
pharmaceuticals, X-ray inspection systems, and seal checkers; and product
handling equipment, including fastback horizontal motion conveyors, fastback
revolution proportional gates, vibratory conveyors, blending systems, incline
transfer conveyors, product sizing systems, accumulation equipment, varilift
bucket conveyors, and flex lines and support structures. In addition, it offers training, technical
support and product testing services; and parts. |
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Products/services: |
Fryers, Ovens, Branding, Produce
Unloading, Potato Peeling, Potato Slicing, Potato Washing, Corn Simmering,
Corn Washing, Grinding, Pumping, Sheeting, Corn Conditioning, Toasting, &
Pollution Control Seasoning & Coating Equipment: In-Kitchen Seasoning, On-Machine
Seasoning, Spray Dynamics, & Batter and Breading Applicators Packaging & Weighing Equipment: Ishida Weighers, Ishida Snack Bagmakers,
Ishida Tray Sealers, & Support Structures & Fillers Product Handling Equipment: FastBack Horizontal Motion Conveyors,
Revolution Proportional Gates, Blending Systems, Vibratory Conveyors, Incline
Transfer, Product Sizing, Accumulation, Varilift Conveyors & Flex Lines
and Supports Food Inspection Equipment: Ishida Checkweighers, CEIA Metal
Detectors, Ishida X-ray Systems, & Ishida Seal Checkers, Controls &
Information Systems and Software |
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PROPERTY & ASSETS
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The Subject
principally operates from premises located at the heading address, consisting
of a warehouse and administrative offices. |
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PAYMENTS
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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: |
Financial ratios |
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Financial Ratios |
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31-12-2013 |
31-12-2012 |
Trend |
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PROFITABILITY
[%] |
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Gross
Margin |
N/A |
N/A |
N/A |
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Gross Profit / Sales Turnover * 100 |
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Operating
Margin |
N/A |
N/A |
N/A |
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Operating Profit / Sales Turnover *
100 |
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Net
Profit Margin |
2.91% |
2.71% |
7.38% |
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Profit After Tax / Sales
Turnover * 100 |
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Return
On Equity (ROE) |
7.78% |
8.5% |
-8.47% |
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Profit After Tax / Equity * 100 |
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Return
On Assets (ROA) |
3.51% |
3.64% |
-3.57% |
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Profit After Tax / Total Assets *
100 |
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Return
On Investment (ROI) |
8.28% |
12.58% |
-34.18% |
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Profit Before Tax / Equity *
100 |
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EFFICIENCY
[%] |
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Asset
Turnover |
120.49% |
134.53% |
-10.44% |
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Sales Turnover / Total Assets * 100 |
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Inventory
Turnover |
664.91% |
648.82% |
2.48% |
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Sales Turnover / Inventory * 100 |
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LIQUIDITY
[%] |
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Current
Ratio (CR) |
147.76% |
144.03% |
2.59% |
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Current Assets / Current
Liabilities * 100 |
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Quick
Ratio (QR) |
112.48% |
104.78% |
7.35% |
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(Current Assets – Inventory) /
Current Liabilities * 100 |
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DEBT
[%] |
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Debt
Ratio |
54.89% |
57.18% |
-4% |
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Total Liabilities / Total Assets *
100 |
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Long-Term
Debt Ratio |
7.8% |
10.18% |
-23.38% |
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Long-Term Liabilities / Equity *
100 |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.76 |
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1 |
Rs.97.80 |
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Euro |
1 |
Rs.69.91 |
INFORMATION DETAILS
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Analysis Done by
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KAR |
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Report Prepared
by : |
TPT |
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.