MIRA INFORM REPORT
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Report No. : |
341680 |
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Report Date : |
24.09.2015 |
IDENTIFICATION DETAILS
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Name : |
THE UNIVERSITY OF WOLLONGONG |
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Registered Office : |
Northfields Ave, Wollongong NSW 2522 |
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Country : |
Australia |
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Financials (as on) : |
31.12.2014 (Consolidated) |
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Date of Incorporation : |
1951 |
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Legal Form : |
University |
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Line of Business : |
Subject is a public research university. |
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No. of Employee : |
2,720 |
RATING & COMMENTS
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MIRA’s Rating : |
Aa |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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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 |
Company
name
THE UNIVERSITY OF WOLLONGONG
ABN: 61 060 567 686
Summary
Panel
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Established |
1951 |
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Incorporated |
1989 |
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Line of Business |
University |
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Status |
Trading |
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Chancellor |
Ms Jillian
Broadbent |
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Adverse Listings |
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EXECUTIVE
SUMMARY
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University of Wollongong - consolidated |
|||
|
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As at 31
December 2014 |
As at 31
December 2013 |
Change (%) |
|
Revenue |
$617,326,000.00
|
$575,514,000.00
|
7.27% |
|
Profit b/tax |
$27,673,000.00 |
$19,016,000.00 |
45.52% |
|
Profit a/tax |
$26,960,000.00 |
$17,898,000.00 |
50.63% |
|
Net Profit Margin |
4.37% |
3.11% |
1.26% |
During fiscal 2014,
the subject recorded Net Cashflows from operating activities totalling
$63,413,000.
As at 31 December
2014 the subject recorded consolidated Working Capital of $33,653,000 and a
current ratio of 1.13 to 1 indicating satisfactory liquidity levels.
Consolidated Net
Assets totalled $815,950,000 as at 31 December 2014.
CORPORATE
SEARCH
SPECIAL NOTE The University of Wollongong was
established in
legislation by the University of Wollongong Act 1989
(NSW) and further supported by the University of
Wollongong By-law
2005 (NSW).
Registered 1989
Council
Chancellor: Ms Jillian Broadbent AO
Deputy Chancellor: Mr Noel Cornish
Vice-Chancellor: Professor Paul Wellings CBE
Chair of Academic Senate: Professor Wilma Vialle
Senior Executive
Chief Administrative Officer: Ms Melva Crouch CSM
Deputy Vice-Chancellor (Academic): Professor Eeva Leinonen
Deputy Vice-Chancellor (Global Strategy): Professor Joe Chicharo
Deputy Vice-Chancellor (Research and Innovation): Professor Judy Raper
Chief Finance Officer: Mr Damien Israel
BUSINESS
STRUCTURE
TRADING ADDRESS Northfields Ave,
Wollongong NSW 2522
TELEPHONE (612) 4221 3555
WEBSITE http://www.uow.edu.au
CONTROLLED ENEITIES UOWD Ltd Australia
UOWC Ltd Australia
Wollongong UniCentre Limited Australia
University of Wollongong Recreation & Aquatic Centre Limited
Australia
The Sydney Business School Pty Ltd Australia
The University of Wollongong USA Foundation United States of America
BANK Not determined
EMPLOYEES 2,720
BACKGROUND
The University of
Wollongong was established in legislation by the University of Wollongong Act 1989 (NSW) and further supported by
the University of Wollongong By-law
2005 (NSW).
In the postwar era
of development and innovation, the then New South Wales University of
Technology established a division in Wollongong to train the engineers and
metallurgists of the local steel industry. That institution grew and
evolved, and in 1975 legislation was passed in the parliament of New South
Wales, establishing the University of Wollongong as an independent institution.
The subject is proud of the rich history that has developed since those first classes were held in 1951.
OPERATIONS
The subject is a public research university located in the coastal city of Wollongong, New South Wales, Australia, approximately 80 kilometres south of Sydney.
As of 2014 the University has an enrolment of over 30,000 students (including over 12,800 international students from 134 countries), an alumni base of over 112,000, and over 2,000 academic related staff.
The University has been ranked 9th in Excellence in Research for Australia (ERA) Australian University Rankings in 2012, among the top 1% for research quality in the world, and among the top 2% of universities in the world.
The University of Wollongong has fundamentally developed into a multi-campus institution, three of which are in the Illawarra (Wollongong, Shoalhaven and Innovation Campus in North Wollongong), one in Sydney and one overseas in Dubai, United Arab Emirates.
The Wollongong Campus, the University's Main Campus, is on the original site five kilometres north-west of the city centre, and covers an area of 82.4 hectares with 94 permanent buildings including six student residences. In addition, there are University Education Centres in Bega, Batemans Bay, Moss Vale and Loftus as well as the Sydney Business School in the City of Sydney. The University also offers courses equally based on the Wollongong Campus in collaboration with partner institutions in a number of offshore locations including in Singapore, Malaysia and Hong Kong.
ADVERSE
A search of failed
to trace any litigation listed against the subject at that date.
FINANCES
For the financial
year ended 31 December 2014 the subject recorded revenue of $617,326,000, which
resulted in an operating profit before tax of $27,673,000 and an operating
profit after tax of $26,960,000 representing a Net Profit Margin of 4.37%.
Below is a summary
of the subject’s consolidated income results for the past two financial years.
|
University of Wollongong - consolidated |
|||
|
|
As at 31 December
2014 |
As at 31
December 2013 |
Change (%) |
|
Revenue |
$617,326,000.00
|
$575,514,000.00
|
7.27% |
|
Profit b/tax |
$27,673,000.00 |
$19,016,000.00 |
45.52% |
|
Profit a/tax |
$26,960,000.00 |
$17,898,000.00 |
50.63% |
|
Net Profit Margin |
4.37% |
3.11% |
1.26% |
During fiscal 2014, the subject recorded Net Cashflows from operating activities totalling $63,413,000.
As at 31 December 2014 the subject recorded consolidated total current assets of $299,664,000. They included cash of $82,366,000, receivables of $30,016,000 and other financial assets of $177,349,000.
Current liabilities at the same date totalled $266,011,000 and included payables of $31,463,000 and other liabilities of $148,967,000.
As at 31 December 2014 the subject recorded consolidated Working Capital of $33,653,000 and a current ratio of 1.13 to 1 indicating satisfactory liquidity levels.
The subject maintains access to financing facilities with a limit of $78,970,000. These facilities were drawn to $72,552,000 at this time.
Consolidated Net Assets totalled $815,950,000 as at 31 December 2014. At this date, the subject further recorded a Debt to Equity ratio of 0.84 to 1.
|
University of Wollongong - consolidated |
|||
|
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As at 31
December 2014 |
As at 31
December 2013 |
Change (%) |
|
Revenue |
$617,326,000.00
|
$575,514,000.00
|
7.27% |
|
Profit b/tax |
$27,673,000.00 |
$19,016,000.00 |
45.52% |
|
Profit a/tax |
$26,960,000.00 |
$17,898,000.00 |
50.63% |
|
Net Profit Margin |
4.37% |
3.11% |
1.26% |
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Current Assets |
$299,664,000.00
|
$179,364,000.00
|
67.07% |
|
Non Current Assets |
$1,199,035,000.00
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$1,063,222,000.00
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12.77% |
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Total Assets |
$1,498,699,000.00
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$1,242,586,000.00
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20.61% |
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Current Liabilities |
$266,011,000.00
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$128,907,000.00
|
106.36% |
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Non Current Liabilities |
$416,738,000.00
|
$328,691,000.00
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26.79% |
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Total Liabilities |
$682,749,000.00
|
$457,598,000.00
|
49.20% |
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Net Assets |
$815,950,000.00
|
$784,988,000.00
|
3.94% |
|
Working Capital |
$33,653,000.00 |
$50,457,000.00 |
-33.30% |
|
Current Ratio |
1.13 |
1.39 |
-19.04% |
|
Debt to Equity |
0.84 |
0.58 |
43.54% |
TRADE
SURVEY
Details
pertaining to the subjects suppliers were not provided for the current enquiry.
A trade survey
on the subject was subsequently unable to be conducted.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.97 |
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|
1 |
Rs.101.19 |
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Euro |
1 |
Rs.73.38 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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Report Prepared
by : |
ANK |
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.