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Report No. : |
343880 |
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Report Date : |
09.10.2015 |
IDENTIFICATION DETAILS
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Name : |
TRONOX PIGMENTS PTY LTD |
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Formerly Known As : |
KERR-MCGEE PIGMENT LTD |
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Registered Office : |
1 Brodie Hall
Dr, Technology Park, WA 6102 |
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Country : |
Australia |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
22.07.1991 |
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Legal Form : |
Australian
Proprietary Company |
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Line of Business : |
Subject is engaged in production and marketing of titanium dioxide
pigment |
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No. of Employee : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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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
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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$40 billion Gorgon Liquid Natural Gas project, will significantly expand the resources sector. Australia is an open market with minimal restrictions on imports of goods and services. The process of opening up has increased productivity, stimulated growth, and made the economy more flexible and dynamic. Australia plays an active role in the World Trade Organization, APEC, the G20, and other trade forums. Australia entered into free trade agreements (FTAs) with the Republic of Korea and Japan, and concluded an FTA with China, in 2014, adding to existing FTAs with Chile, Malaysia, New Zealand, Singapore, Thailand, and the US, and a regional FTA with ASEAN and New Zealand. Australia continues to negotiate bilateral agreements with India and Indonesia, as well as larger agreements with its Pacific neighbors and the Gulf Cooperation Council countries, and an Asia-wide Regional Comprehensive Economic Partnership that includes the ten ASEAN countries and China, Japan, Korea, New Zealand and India. Australia is also working on the Trans-Pacific Partnership Agreement with Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the US, and Vietnam.
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Source
: CIA |
TRONOX PIGMENTS PTY LTD
ACN: 052 533 829
ABN: 62 052 533
829
Current
financial details were subsequently unable to be obtained for the current
enquiry.
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Tronox Pigments Ltd |
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||
|
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As at 31 December 2013 US$ |
As at 31 December 2012 US$ |
Change (%) |
|
Revenue |
$445,731,928.00 |
$448,144,883.00 |
-0.54% |
|
Profit b/tax |
($15,984,776.00) |
$673,832.00 |
-2472.22% |
|
Profit a/tax |
($11,065,738.00) |
$738,802.00 |
-1597.79% |
|
Net Profit Margin |
-2.48% |
0.16% |
-2.65% |
During fiscal 2007 the subject recorded a deficiency in Net cashflows
from Operating activities totalling $6,238,000.
As at 31 December 2013, the subject recorded a deficiency in Working
Capital of $16,778,834.
The subject recorded a deficiency in Net Assets totalling $7,958,173 as
at 31 December 2013.
Company Type Australian
Proprietary Company
Status Registered
Incorporation Date 22 Jul
1991
Incorporation State –
Total: 3
Director Name MUGLIA,
RICHARD LAWRENCE
Appointment Date 28 May
2014
Date of Birth 29
Jan 1951
Place of Birth NORTH
PLAINFIELD, NEW
JERSEY UNITED STATES
Gender UNKNOWN
Resident Overseas Y
Address -
Document Number 029266988
Director Name ORELL,
ANTHONY MARTIN
Appointment Date 05 May
2010
Date of Birth 06
Sep 1957
Place of Birth SUBIACO
WA
Gender MALE
Resident Overseas N
Address 5
PERSIMMON PL, KALAMUNDA
WA 6076
Document Number 024460754
Director Name ROMANO,
JOHN DAVID
Appointment Date 15 Jul
2008
Date of Birth 22
Nov 1964
Place of Birth MORGAN
CITY UNITED STATES
Gender UNKNOWN
Resident Overseas Y
Address -
Document Number 024834930
Total: 1
Officer Role Local Agent
Officer Name TRONOX
WESTERN AUSTRALIAPTY LTD
ACN 009331195
Appointment Date 28 Jun
1991
Address 1
BRODIE-HALL DRIVE BENTLEY
WA, 6102
Document Number 008883154
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 1 Brodie Hall Dr
TECHNOLOGY
PARK, WA 6102
TELEPHONE (618) 9361 4700
FACSIMILE (618) 9361 1418
WEBSITE http://australia.tronox.com/
ASSOCIATED ENTITY TRONOX WESTERN AUSTRALIA P/L
ULTIMATE HOLDING
ENTITY TRONOX
INC
MINE COOLARLOO MINE
PROCESSING PLANT MUCHEA,
WA
PIGMENT PLANT KWINANA,
WA
BANK ANZ
BANKING GROUP
EMPLOYEES Nil – all employed
through the listed Associated entity
The subject was incorporated as a foreign company
operating in Australia on 22 July 1991 as Kerr-McGee Pigment Ltd, changing name
on 30 August 1991 to Kerr-McGee Pigments Ltd before adopting the current style
on 31 March 2006.
The subject operates in the production and marketing of titanium dioxide
pigment. The company’s Australian operations are managed by its subsidiaries,
Tronox Pigments LTD and Tronox Western Australia Pty Ltd.
Activities are
conducted from premises located at the above listed trading address.
A search of of
on7 October 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 principals was unable to be
established. Despite numerous messages being left, no reply has been received.
Current
financial details were subsequently unable to be obtained for the current
enquiry.
From the subjects most recently lodged financial statements, it is noted
that for the financial year ended 31 December 2013 the subject recorded revenue
of US$445,731,928, which resulted in a Operating Loss before tax of
US$15,984,776 and an operating Loss after tax of US$11,065,738.
|
Tronox Pigments Ltd |
|
||
|
|
As at 31 December 2013 US$ |
As at 31 December 2012 US$ |
Change (%) |
|
Revenue |
$445,731,928.00 |
$448,144,883.00 |
-0.54% |
|
Profit b/tax |
($15,984,776.00) |
$673,832.00 |
-2472.22% |
|
Profit a/tax |
($11,065,738.00) |
$738,802.00 |
-1597.79% |
|
Net Profit Margin |
-2.48% |
0.16% |
-2.65% |
During fiscal 2007 the subject recorded a deficiency in Net cashflows
from Operating activities totalling $6,238,000.
As at 31 December 2013, the subject recorded total current assets of
$58,491,359. They included cash of $417,741 and accounts receivables of
$57,146,588.
Current liabilities at the same date totalled $75,270,193 and consisted
solely of payables.
As at 31 December 2013, the subject recorded a deficiency in Working
Capital of $16,778,834.
The subject recorded a deficiency in Net Assets totalling $7,958,173 as
at 31 December 2013.
|
Tronox Pigments Ltd |
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||
|
|
As at 31 December 2013 US$ |
As at 31 December 2012 US$ |
Change (%) |
|
Revenue |
$445,731,928.00 |
$448,144,883.00 |
-0.54% |
|
Profit b/tax |
($15,984,776.00) |
$673,832.00 |
-2472.22% |
|
Profit a/tax |
($11,065,738.00) |
$738,802.00 |
-1597.79% |
|
Net Profit Margin |
-2.48% |
0.16% |
-2.65% |
|
Current Assets |
$58,491,359.00 |
$178,248,377.00 |
-67.19% |
|
Non Current Assets |
$8,820,661.00 |
$217,711.00 |
3951.55% |
|
Total Assets |
$67,312,020.00 |
$178,466,088.00 |
-62.28% |
|
Current Liabilities |
$75,270,193.00 |
$166,358,522.00 |
-54.75% |
|
Non Current Liabilities |
|
$9,000,000.00 |
-100.00% |
|
Total Liabilities |
$75,270,193.00 |
$175,358,522.00 |
-57.08% |
|
Net Assets |
($7,958,173.00) |
$3,107,566.00 |
-356.09% |
|
Working Capital |
($16,778,834.00) |
$11,889,855.00 |
-241.12% |
|
Current Ratio |
0.78 |
1.07 |
-27.47% |
|
Debt to Equity |
-9.46 |
56.43 |
-116.76% |
The subject is ultimately owned by Tronox Inc, a US based public listed
corporation.
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: $17,187
Total Past Due: $17,187
Average Late Payment Days: 15
All Industries Late Payment Days: 9
Within terms: $0
1 – 30 days past
due: $17,187
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.65.16 |
|
UK Pound |
1 |
Rs.99.78 |
|
Euro |
1 |
Rs.73.33 |
INFORMATION DETAILS
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Analysis Done by
: |
TRI |
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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 |
|
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.