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MIRA INFORM REPORT
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Report No. : |
498593 |
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Report Date : |
22.03.2018 |
IDENTIFICATION DETAILS
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Name : |
AMTRADE INTERNATIONAL PTY LTD |
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Registered Office : |
8, 580 St Kilda Rd, Melbourne, VIC 3000 |
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Country : |
Australia |
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Date of Incorporation : |
15.05.1985 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
·
The subject operates in the import and wholesale distribution
of raw materials, specializing in chemicals. ·
The subject primarily imports and distributes
chemical and plastic raw materials. Most of the products are handled on an
exclusive basis where Amtrade represents particular overseas manufacturers. |
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No. of Employees : |
53 |
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 : |
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 AMTRADE INTERNATIONAL PTY LTD
ACN: 006 409 936
ABN: 49 006 409 936
Summary
Panel
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Established |
1985 |
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Incorporated |
1985 |
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Status |
Trading |
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Line of Business |
Import and wholesale distribution of raw materials |
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Chief Executive Officer |
ADLER, Norman Ross |
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EXECUTIVE
SUMMARY
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AWL Enterprsies P/L - consolidated |
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As at 30 June 2017 |
As at 30 June 2016 |
Change (%) |
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Revenue |
$99,826,000.00 |
$110,288,000.00 |
-9.49% |
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Profit b/tax |
$1,910,000.00 |
$1,768,000.00 |
8.03% |
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Profit a/tax |
$1,332,000.00 |
$1,232,000.00 |
8.12% |
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Net Profit Margin |
1.33% |
1.12% |
0.22% |
The subject is noted to have entered into a Deed of Cross Guarantee
pursuant to a Class Order with its Holding entity Awl Enterprises Pty Limited.
For the year ended 30 June 2017, the parties which make up the closed group
that form part of the Deed of Cross Guarantee recorded an operating profit
before tax of $1,479,000 and after tax of $1,123,000.
As at 30 June 2017 the closed group recorded Working Capital of
$10,401,000 and a current ratio of 1.53 to 1.
At this time, the closed group recorded Net Assets of $13,324,000. After
deducting intangibles of $1,194,000 this results in a Net Worth of $12,130,000.
CORPORATE
SEARCH
Company Type Australian
Proprietary Company
INCORPORATED 15
May 1985
REGISTERED ADDRESS 8, 580 St Kilda Rd
Melbourne,
VIC 3000
SHARECAPITAL $8,500,000
SHAREHOLDERS AWL
ENTERPRISES PTY LTD Holds 8,500,000
DIRECTORS ADLER,
Jennifer Susan
Resident
overseas
ADLER,
Fiona Catherine
13
Tintertn Ave
TOORAK,
VIC 3142
ADLER,
Caroline Elizabeth
Resident
overseas
WALTERS,
Graham Douglas
25
Hollidays Rd
SUMMERTOWN,
SA 5141
ADLER,
Norman Ross
13
Tintern Ave
TOORAK,
VIC 3142
COMPANY SECRETARY CHAU,
JOSELYN
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
8, 580 St Kilda Road
MELBOURNE,
VIC 3004
TELEPHONE (613)
9229 9229
FACSIMILE (613)
9229 9290
WEBSITE www.amtrade.com.au
BRANCHES FORTITUDE
VALLEY, QLD
NORTH
ADELAIDE, SA 5006
MACQUARIE
PARK, NSW 2113
HOLDING ENTITY AWL
ENTERPRISES P/L
ASSOCIATES AMTRADE
NEW ZEALAND LTD
BROWN
& DUREAU INTERNATIONAL P/L
BANK ANZ
BANKING GROUP
Branch:
Collins St, Melbourne, VIC
EMPLOYEES 53
BACKGROUND
The subject was incorporated in Victoria on 15 May 1985 as Brown &
Dureau International Ltd, changing name on 5 August 1992 to Amcor Trading Ltd,
changing name on 13 September 1994 to Amcor Trading Pty Ltd, before adopting
the current style on 9 December 1997.
The origins of the business date back to 1883 with the founding of a partnership
to import products into Victoria. This partnership evolved over time to become
Brown & Dureau Limited, which became a listed public company in June 1946.
This Company was sold to Australian Paper Manufacturers Ltd (now called Amcor
Ltd) in 1979 and became a wholly owned subsidiary of that Group. Brown &
Dureau Ltd was purchased by Amcor Ltd
Brown & Dureau’s name was changed to Amcor Trading Pty Ltd and then
in 2000 to Amtrade International Pty Ltd.
In 2000, the Amcor Ltd Group was divided into Amcor Ltd and PaperlinX
Ltd. Amtrade then became a part of the PaperlinX Group.
In 2001, Mr Ross Adler AC led a Private Equity Group to purchase
Amtrade. He had been the Managing Director and a shareholder of Brown &
Dureau Ltd from 1975 to 1984, and led the sale of that company to Amcor Ltd in
1979.
OPERATIONS
The subject operates in the import and wholesale distribution of raw
materials, specializing in chemicals.
The subject primarily imports and distributes chemical and plastic raw
materials. Most of the products are handled on an exclusive basis where Amtrade
represents particular overseas manufacturers.
The majority of Amtrade’s supply is sourced from Europe, Japan, the USA
and China. Sourcing from Korea and India is increasing.
Amtrade’s management systems include ISO 9002 and Responsible Care.
Amtrade's customers include large and small manufacturing companies in
Australia and New Zealand. Amtrade supplies products to a broad range of
industries, including:
• Agriculture
• Building
• Food & Beverage
• Hardware
• Mining
• Packaging
• Paper manufacturing
• Pet food
• Pharmaceuticals
• Plastic moulding & Extrusion
• Roading
• Rubber
• Steel pipe
• Stock feed
• Surface coating
• Veterinary products
Activities are conducted from premises located at the above listed
trading address.
ADVERSE
A search of records of on 19 March 2018 failed to trace
any litigation listed against the subject at that date.
FINANCES
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AWL Enterprsies P/L - consolidated |
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As at 30 June 2017 |
As at 30 June 2016 |
Change (%) |
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Revenue |
$99,826,000.00 |
$110,288,000.00 |
-9.49% |
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Profit b/tax |
$1,910,000.00 |
$1,768,000.00 |
8.03% |
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Profit a/tax |
$1,332,000.00 |
$1,232,000.00 |
8.12% |
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Net Profit Margin |
1.33% |
1.12% |
0.22% |
The subject is noted to have entered into a Deed of Cross Guarantee
pursuant to a Class Order with its Holding entity Awl Enterprises Pty Limited. The
effect of the Deed is that each party that forms part of the closed group
guarantee the debts of each other.
For the year ended 30 June 2017, the parties which make up the closed
group that form part of the Deed of Cross Guarantee recorded an operating
profit before tax of $1,479,000 and after tax of $1,123,000.
For fiscal 2017 the group recorded Net cashflows from operating
activities totalling $4,194,000.
As at 30 June 2017 the Group recorded total current assets of
$36,376,000. They included cash of $5,470,000, receivables of $14,776,000 and
inventories of $15,693,000.
Current liabilities at the same date totalled $22,524,000 and included
payables of $10,753,000 and borrowings of $10,302,000.
As at 30 June 2017 the Group recorded Working Capital of $13,852,000 and
a current ratio of 1.61 to 1 indicating satisfactory liquidity levels.
As at 30 June 2016, the closed group recorded Working Capital of
$10,401,000 and a current ratio of 1.53 to 1.
Group Net Assets totalled $15,891,000 as at 30 June 2017. At this date,
the Group further recorded a Debt to Equity ratio of 1.43 to 1.
At this time, the closed group recorded Net Assets of $13,324,000. After
deducting intangibles of $1,194,000 this results in a Net Worth of $12,130,000.
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AWL Enterprsies P/L - consolidated |
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As at 30 June 2017 |
As at 30 June 2016 |
Change (%) |
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Revenue |
$99,826,000.00 |
$110,288,000.00 |
-9.49% |
|
Profit b/tax |
$1,910,000.00 |
$1,768,000.00 |
8.03% |
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Profit a/tax |
$1,332,000.00 |
$1,232,000.00 |
8.12% |
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Net Profit Margin |
1.33% |
1.12% |
0.22% |
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Current Assets |
$36,376,000.00 |
$35,174,000.00 |
3.42% |
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Non Current Assets |
$2,314,000.00 |
$2,768,000.00 |
-16.40% |
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Total Assets |
$38,690,000.00 |
$37,942,000.00 |
1.97% |
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Current Liabilities |
$22,524,000.00 |
$22,493,000.00 |
0.14% |
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Non Current Liabilities |
$275,000.00 |
$109,000.00 |
152.29% |
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Total Liabilities |
$22,799,000.00 |
$22,602,000.00 |
0.87% |
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Net Assets |
$15,891,000.00 |
$15,340,000.00 |
3.59% |
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Working Capital |
$13,852,000.00 |
$12,681,000.00 |
9.23% |
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Current Ratio |
1.61 |
1.56 |
3.27% |
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Debt to Equity |
1.43 |
1.47 |
-2.63% |
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.
Trade payment records from further sources in the past 4 months have
traced the following data for the subject.
Total Owing:
$6,762
Total Past Due:
$2,938
Average Late
Payment Days: 34
Within terms: $3,836
1 – 30 days past due: $0
31 – 60 days past due: $2,926
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 65.22 |
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1 |
INR 91.33 |
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Euro |
1 |
INR 79.96 |
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AUD |
1 |
INR 50.18 |
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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NIY |
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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.