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MIRA INFORM REPORT
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Report No. : |
501127 |
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Report Date : |
05.04.2018 |
IDENTIFICATION DETAILS
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Name : |
CITRIX SYSTEMS
ASIA PACIFIC PL |
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Registered Office : |
Level 5, 60-66 Waterloo Road Macquarie Park NSW, 2113 |
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Country : |
Australia |
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Financials (as on) : |
31.12.2016 |
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Date of Incorporation : |
03.07.1997 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
·
The subject operates in the development,
marketing and sale of information technology solutions that help build,
manage and secure virtual and mobile workspaces and deliver apps, desktops,
data and services on devices and networks. · The subject is a software and cloud computing company with offerings that include server, application and desktop virtualization, networking, and software as a service. |
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No. of Employees : |
176 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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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
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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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 Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 2018 facing a range of growth constraints, principally driven by the
sharp fall in global prices of key export commodities. Demand for resources and
energy from Asia and especially China has stalled and sharp drops in current
prices have 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 benefited from a dramatic surge in its terms of trade in
recent years, although this trend has reversed 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 WTO, APEC, the G20, and other trade forums.
Australia’s free trade agreement (FTA) with China entered into force in 2015,
adding to existing FTAs with the Republic of Korea, Japan, 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 10 ASEAN countries and China, Japan, Korea, New
Zealand and India.
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Source
: CIA |
CORPORATE
REPORT
REGISTERED NAME CITRIX SYSTEMS
ASIA PACIFIC PL
ACN 078874530
ABN 37078874530
Summary
Panel
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Established |
1997 |
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Incorporated |
1997 |
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Line of Business |
IT solutions |
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Status |
TRADING |
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EXECUTIVE
SUMMARY
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Citrix Systems Asia Pacific P/L |
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As at 31 Dec 2016 |
As at 31 Dec 2015 |
Change (%) |
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Revenue |
$259,301,000.00 |
$258,023,000.00 |
0.50% |
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Profit b/tax |
$6,333,000.00 |
$4,025,000.00 |
57.34% |
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Profit a/tax |
($938,000.00) |
($4,120,000.00) |
-77.23% |
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Net Profit Margin |
-0.36% |
-1.60% |
1.24% |
During fiscal 2017, the subject recorded Net Cashflows from operating
activities totalling $378,000.
As at 31 December 2016 the subject recorded Working Capital of $46,782,000
and a current ratio of 1.24 to 1 indicating satisfactory liquidity levels.
Net Assets totalled $6,380,000 as at 31 December 2016. Nil intangibles
were recorded at this time.
CORPORATE SEARCH
Company Type Australian Proprietary Company
Status Registered
Incorporation Date 03 Jul 1997
Incorporation State VIC
Registered Office Level 5, 60-66 Waterloo
Road Macquarie Park NSW, 2113
Current Directors Total: 3
Director Name CHIM, WUN IAM
Appointment Date 29 Jan 2016
Date of Birth 02 May 1966
Place of Birth MACAO
Gender UNKNOWN
Resident Overseas Y
Director Name MOYLES, GEORGE ANTHONY
Appointment Date 12 Sep 2014
Date of Birth 03 Apr 1973
Place of Birth BALLINA CO MAYO IRELAND
Gender MALE
Resident Overseas N
Address 2, 168 BOURKE ST,
DARLINGHURST NSW 2010
Director Name AU-YONG, KEI ANGIE
Appointment Date 01 Dec 2009
Date of Birth 12 Aug 1971
Place of Birth HONG KONG
Gender UNKNOWN
Resident Overseas Y
Current Other Organisation Officers Total: 1
Officer Role Appointed Auditor
Officer Name ERNST & YOUNG
ACN 022764129
Appointment Date 01 Aug 1997
Address 200 GEORGE STREET SYDNEY
NSW, 2000
Company Shares Total: 1500001 Amount: $1
Class ORDINARY SHARES [ORD]
Number of Shares Issued 1500001
Paid Capital $1.00
Total Amount Due and Payable $0.00
Current Shareholders
Shareholder Name CITRIX SYSTEMSINTERNATIONAL
GMBH
Address RHEINWEG 9 8200
SCHAFFHAUSEN SWITZERLAND
Class ORD
Number Held 1500001
Beneficially Held Y
Fully Paid Y
Jointly Held N
SECURITY
INTERESTS
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).
BUSINESS STRUCTURE
TRADING ADDRESS LEVEL 5, 60-66 WATERLOO
ROAD MACQUARIE PARK NSW, 2113
POSTAL ADDRESS Locked
Mail Bag 2085
North Ryde NSW 1670
TELEPHONE (612)
8870 0800
FACSIMILE (612)
8870 0600
WEBSITE https://www.citrix.com.au
HOLDING ENTITY CITRIX
SYSTEMS INTERNATIONA GMBH
ULTIMATE HOLDING
ENTITY CITRIX
SYSTEMS INC.
BANK Not
determined
EMPLOYEES 176
BACKGROUND
The subject was incorporated in Victoria on 3 July 1997 before adopting
the current style on 3 February 2000.
OPERATIONS
The subject operates in the development, marketing and sale of
information technology solutions that help build, manage and secure virtual and
mobile workspaces and deliver apps, desktops, data and services on devices and
networks.
The subject is a software and cloud computing
company with offerings that include server, application and desktop virtualization,
networking, and software as a service.
Activities are conducted from premises located at the above listed
trading address.
ADVERSE
A search of of on failed to trace any litigation listed against the
subject at that date.
FINANCES
Below is a summary of the subject’s income results for the past two
financial years.
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Citrix Systems Asia Pacific P/L |
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As at 31 Dec 2016 |
As at 31 Dec 2015 |
Change (%) |
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Sales |
$259,301,000.00 |
$258,023,000.00 |
0.50% |
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Profit b/tax |
$6,333,000.00 |
$4,025,000.00 |
57.34% |
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Profit a/tax |
($938,000.00) |
($4,120,000.00) |
-77.23% |
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Net Profit Margin |
-0.36% |
-1.60% |
1.24% |
During fiscal 2017, the subject recorded Net Cashflows from operating activities
totalling $378,000.
As at 30 June 2017 the subject recorded total current assets of
$243,403,000. They included cash of $12,784,000 and receivables of $229,746.
Current liabilities at the same date totalled $196,621,000 and included
payables of $80,171,000 and deferred revenue of $111,341,000.
As at 31 December 2016 the subject recorded Working Capital of
$46,782,000 and a current ratio of 1.24 to 1 indicating satisfactory liquidity
levels.
Net Assets totalled $6,380,000 as at 31 December 2016. At this date, the
subject further recorded a Debt to Equity ratio of 38 to 1 showing high levels
of gearing.
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Citrix Systems Asia Pacific P/L |
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As at 31 Dec 2016 |
As at 31 Dec 2015 |
Change (%) |
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Sales |
$259,301,000.00 |
$258,023,000.00 |
0.50% |
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Profit b/tax |
$6,333,000.00 |
$4,025,000.00 |
57.34% |
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Profit a/tax |
($938,000.00) |
($4,120,000.00) |
-77.23% |
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Net Profit Margin |
-0.36% |
-1.60% |
1.24% |
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Current Assets |
$243,403,000.00 |
$196,998,000.00 |
23.56% |
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Non Current Assets |
$8,439,000.00 |
$13,030,000.00 |
-35.23% |
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Total Assets |
$251,842,000.00 |
$210,028,000.00 |
19.91% |
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Current Liabilities |
$196,621,000.00 |
$171,395,000.00 |
14.72% |
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Non Current Liabilities |
$48,841,000.00 |
$39,044,000.00 |
25.09% |
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Total Liabilities |
$245,462,000.00 |
$210,439,000.00 |
16.64% |
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Net Assets |
$6,380,000.00 |
($411,000.00) |
-1652.31% |
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Working Capital |
$46,782,000.00 |
$25,603,000.00 |
82.72% |
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Current Ratio |
1.24 |
1.15 |
7.70% |
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Debt to Equity |
38.47 |
-512.02 |
-107.51% |
TRADE
SURVEY
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.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 65.02 |
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1 |
INR 91.49 |
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Euro |
1 |
INR 79.79 |
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AUD |
1 |
INR 49.99 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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VAR |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with moderate
risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on secured
terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.