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MIRA
INFORM REPORT
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Report No. : |
492500 |
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Report Date : |
22.02.2018 |
IDENTIFICATION DETAILS
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Name : |
HUYCK.WANGNER AUSTRALIA PTY LTD |
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Registered Office : |
36 Fellmongers Road East Geelong,
Victoria 3219 |
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Country : |
Australia |
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Financials (as on) : |
31.12.2016 |
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Date of Incorporation : |
01.03.1965 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
The subject operates in the manufacture and distribution of
paper machines clothing and related products. |
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No. of Employees : |
102 |
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 : |
Good |
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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
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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 |
Company NAME
HUYCK.WANGNER AUSTRALIA
PTY LTD
ACN: 004 624 015
ABN: 98 004 624 015
Summary Panel |
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Established |
1965 |
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Incorporated |
1965 |
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Line of Business |
manufacture and distribution of paper machines |
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Status |
Trading |
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Adverse Listings |
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EXECUTIVE SUMMARY
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Huyck.Wangner Australia P/L |
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As at 31 Dec 2016 |
As at 31 Dec 2015 |
Change (%) |
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Revenue |
$54,039,025.00 |
$63,700,142.00 |
-15.17% |
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Profit b/tax |
$2,147,482.00 |
$4,593,106.00 |
-53.25% |
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Profit a/tax |
$2,147,482.00 |
$6,152,865.00 |
-65.10% |
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Net Profit Margin |
3.97% |
9.66% |
-5.69% |
During fiscal 2016, the subject recorded Net Cashflows from
operating activities totalling $986,534.
As at 31 December 2016 the subject recorded Working Capital of
$4,144,145 and a current ratio of 1.22 to 1 indicating satisfactory liquidity
levels.
Net Assets totalled $12,364,112 as at 31 December 2016. Nil
intangibles were recorded at this time.
CORPORATE SEARCH
Company Type Australian
Proprietary Company
Incorporation Date: 01
Mar 1965
Incorporation State: Victoria
Registered Office 36
FELLMONGERS Road
EAST
GEELONG, Victoria 3219 Australia
Number of Shares Issued: 6261409
Paid Capital: $6,261,409
Shareholders HUYCK
WANGNER AUSTRAIA GMBH
Number
of Shares: 650816
Current Directors Total: 4
XU, LI
Appointment Date 17.10.2016
Date of Birth 26.10.1967
Resident Overseas Y
Director Name BURKE, ROBERT PATRICK
Appointment Date 15 Jul 2016
Date of Birth 03 Apr 1964
Place of Birth MASSACHUSETTS UNITED
STATES
Gender UNKNOWN
Resident Overseas Y
Director Name BLY, MICHAEL FRANCIS
Appointment Date 15 Mar 2016
Date of Birth 14 Jul 1966
Place of Birth NEW JERSEY UNITED STATES
Gender UNKNOWN
Director Name DEAN, MIKEL JAMES
Appointment Date 06 Mar 2013
Date of Birth 07 Feb 1972
Place of Birth GEELONG VIC
Gender MALE
Resident Overseas N
Address 26 GREGORY DR, INVERLEIGH
VIC 3321
Current Secretaries Total: 1
Secretary Name DEAN, MIKEL JAMES
Appointment Date 19 Jul 2010
Date of Birth 07 Feb 1972
Place of Birth GEELONG VIC
Address 26 GREGORY DRIVE
INVERLEIGH VIC, 3321
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).
Please contact us should you require a search of the PPSR.
BUSINESS STRUCTURE
TRADING ADDRESS 36
Fellmongers Rd
EAST
GEELONG, VIC 3219
TELEPHONE (613) 5223 7000
FACSIMILE (613)
5223 7099
WEBSITE http://www.xerium.com
HOLDING ENTITY HUYCK
WANGNER AUSTRIA GMBH
ULTIMATE HOLDNG
ENTITY XERIUM TECHNOLOGIES INC
BANK ANZ
BANKING GROUP
Geelong,
VIC
EMPLOYEES 102
BACKGROUND
The subject was incorporated in Victoria on 1 March 1965 as Huyck
Australia P/L, changing name on 5 November 2007 to Huyck Australia P/L, before
adopting the current style on 15 November 2007.
OPERATIONS
The subject operates in the manufacture and distribution of paper
machines clothing and related products.
Activities are conducted from premises located at the above listed
trading address.
ADVERSE
A search of records of on 28 October 2016 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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Huyck.Wangner Australia P/L |
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As at 31 Dec 2016 |
As at 31 Dec 2015 |
Change (%) |
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Revenue |
$54,039,025.00 |
$63,700,142.00 |
-15.17% |
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Profit b/tax |
$2,147,482.00 |
$4,593,106.00 |
-53.25% |
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Profit a/tax |
$2,147,482.00 |
$6,152,865.00 |
-65.10% |
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Net Profit Margin |
3.97% |
9.66% |
-5.69% |
During fiscal 2016, the subject recorded Net Cashflows from
operating activities totalling $986,534.
As at 31 December 2016 the subject recorded total current assets
of $22,674,219. They included cash of $1,795,144, receivables of $13,775,943
and inventories of $6,917,694.
Current liabilities at the same date totalled $18,530,074 and
included payables of $13,214,221 and interest bearing liabilities of
$4,727,122.
As at 31 December 2016 the subject recorded Working Capital of
$4,144,145 and a current ratio of 1.22 to 1 indicating satisfactory liquidity
levels.
Net Assets totalled $12,364,112 as at 31 December 2016. At this date,
the subject further recorded a Debt to Equity ratio of 1.5 to 1. Nil
intangibles were recorded at this time.
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Huyck.Wangner Australia P/L |
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As at 31 Dec 2016 |
As at 31 Dec 2015 |
Change (%) |
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Revenue |
$54,039,025.00 |
$63,700,142.00 |
-15.17% |
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Profit b/tax |
$2,147,482.00 |
$4,593,106.00 |
-53.25% |
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Profit a/tax |
$2,147,482.00 |
$6,152,865.00 |
-65.10% |
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Net Profit Margin |
3.97% |
9.66% |
-5.69% |
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Current Assets |
$22,674,219.00 |
$21,686,692.00 |
4.55% |
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Non Current Assets |
$8,361,521.00 |
$9,353,344.00 |
-10.60% |
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Total Assets |
$31,035,740.00 |
$31,040,036.00 |
-0.01% |
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Current Liabilities |
$18,530,074.00 |
$20,790,945.00 |
-10.87% |
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Non Current Liabilities |
$141,554.00 |
$32,462.00 |
336.06% |
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Total Liabilities |
$18,671,628.00 |
$20,823,407.00 |
-10.33% |
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Net Assets |
$12,364,112.00 |
$10,216,629.00 |
21.02% |
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Working Capital |
$4,144,145.00 |
$895,747.00 |
362.65% |
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Current Ratio |
1.22 |
1.04 |
17.31% |
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Debt to Equity |
1.51 |
2.04 |
-25.91% |
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.
Trade payment records from further sources in the past 4 months
have traced the following data for the subject.
Total Owing: $1,721
Total Past Due: $66
Average Late Payment Days:
30
All Industries Late
Payment Days: 8
Within terms: $1,655
1 – 30 days past due: $0
31 – 60 days past due: $66
61 – 90 days past due: $0
91+ days: $0
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.81 |
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1 |
INR 90.66 |
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Euro |
1 |
INR 79.94 |
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AUD |
1 |
INR 50.88 |
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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PRI |
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Report Prepared
by : |
TRU |
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
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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.