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Report No. : |
340814 |
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Report Date : |
14.09.2015 |
IDENTIFICATION DETAILS
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Name : |
AUSCOTT MARKETING PTY LTD |
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Registered Office : |
Level 3, 56 Pitt St, Sydney NSW 2000 |
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Country : |
Australia |
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Year of Establishment : |
1963 |
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Legal Form : |
Private Company |
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Line of Business : |
Subject operates in the marketing and distribution of cotton on behalf
of the group |
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No. of Employee : |
220 (group) |
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) |
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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 |
AUSCOTT MARKETING PTY
LTD
ACN: 002 970 667
ABN: 47 002 970 667
Summary
Panel
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Established |
1963 |
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Incorporated |
1985 |
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Line of Business |
Cotton Marketing and sales |
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Status |
Trading |
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Adverse Listings |
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The holding entity, Auscott Limited was founded in 1963 by the J.G. Boswell Company of California.
Details pertaining to the subjects trading and financial position were unable
to be obtained for the current enquiry.
For the last financial year ended 30 June 2014 the holding entity Auscott Ltd
recorded consolidated revenue of $212,343,000. This compares to revenue of
$224,418,000 for the previous corresponding year ended 30 June 2013.
INCORPORATED 26
July 1985
REGISTERED ADDRESS Level
3, 56 Pitt St
SYDNEY
NSW 2000
$250,000
AUSCOTT LIMITED Holds
250,000
POWER, ASHLEY GERARD
61 ROWLAND RD
BOWRAL, NSW 2576
GAYNOR, HARVEY JOHN
25 WANSEY RD
RANDSWICK, NSW 2031
BOUCHER, Desmond
Raymond
310, 8
SAM SING ST
WATERLOO,
NSW 2017
ANTHONY,
DAVID THOMAS
50
EASTERN RD
TURRAMURRA,
NSW 2074
RAILSBACK,
Richard Sherman
Resident
overseas
BOSWELL, James
Walter
Resident
overseas
AMENEIRO, Leane Maree
BOUCHER,
Desmond Raymond
TRADING ADDRESS Level 3, 56 Pitt St
SYDNEY NSW 2000
TELEPHONE (612) 9295 4800
FACSIMILE (612)
9295 4888
WEBSITE www.auscott.com.au
WEBSITE Sydney@auscott.com.au
AUSCOTT LIMITED
JG BOSWELL COMPANY
ANZ BANKING GROUP
Not determined
220 (group)
The subject was incorporated in New South Wales on 26 August 1985 to
operate as the marketing arm for the groups operations in Australia.
The holding entity, Auscott
Limited was founded in 1963 by the J.G. Boswell Company of California. The
company's first operation was a 2,800 hectare (7,000 acre) property in the
Namoi Valley near Narrabri in north-western NSW, Australia.
The Group funded and constructed
the initial irrigation system including channels, pump stations and recycling
facilities. In that first year 1,628 hectares (4,000 acres) of land were
developed and planted to cotton, and a cotton gin for processing raw cotton was
constructed on the property
The subject operates in the marketing and
distribution of cotton on behalf of the group.
The main operations for the company are
located in rural New South Wales. These are centres for farming, ginning and
warehousing. These operations are located in the Namoi, Gwydir and Macquarie
Valleys.
Activities are conducted from premises
located at the above listed trading address.
A search of the on 22 May 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 Finance Director Des Boucher. Contact with Mr Boucher was unable
to be established for the current enquiry. Despite numerous messages being left
and an email sent, no reply has been received.
As a result, details pertaining to the subjects trading and financial
position were unable to be obtained for the current enquiry.
For the last financial year ended 30 June 2014 the holding entity
Auscott Ltd recorded consolidated revenue of $212,343,000. This compares to
revenue of $224,418,000 for the previous corresponding year ended 30 June 2013.
The Ultimate Holding entity JG. Boswell grows and mills cotton on
150,000 acres in California and 50,000 acres in New South Wales, Australia, which
it sells to textile manufacturers worldwide. The company is the world's largest
cotton and tomato growers.
During the current investigation, it was advised that the subject is not a significant seeker of commercial credit.
A trade survey on the subject was subsequently unable to be conducted.
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.39 |
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|
1 |
Rs.102.59 |
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Euro |
1 |
Rs.74.90 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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Report Prepared
by : |
NIT |
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.