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MIRA INFORM REPORT
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Report No. : |
510548 |
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Report Date : |
21.05.2018 |
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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Date of Incorporation : |
26.07.1985 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
·
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. |
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No. of Employees : |
293 (Group) |
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 : |
Slow but correct |
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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 is growing at a slower pace
and sharp drops in export 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 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 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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EXECUTIVE
SUMMARY
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 2017 Auscott Ltd recorded
revenue of $192,648,000. This compares to revenue of $158,876,000 for the
previous corresponding year ended 30 June 2016.
CORPORATE
SEARCH
Company Type Australian
Proprietary Company
INCORPORATED 26
July 1985
REGISTERED ADDRESS Level
3, 56 Pitt St
Sydney
NSW 2000
SHARECAPITAL $250,000
SHAREHOLDERS AUSCOTT
LIMITED Holds 250,000
Current Directors Total: 6
Director Name BOSWELL, CAMERON MURRAY
Appointment Date 31 Dec 2015
Date of Birth 21 Jan 1979
Place of Birth MONTROSE UNITED STATES
Gender UNKNOWN
Resident Overseas Y
Director Name POWER, ASHLEY GERARD
Appointment Date 21 Mar 2012
Date of Birth 09 Mar 1963
Place of Birth SWAN HILL VIC
Gender MALE
Resident Overseas N
Address 61 ROWLAND RD, BOWRAL NSW 2576
Director Name GAYNOR, HARVEY JOHN
Appointment Date 21 Mar 2012
Date of Birth 27 Oct 1964
Place of Birth SYDNEY NSW
Gender MALE
Resident Overseas N
Address 25 WANSEY RD, RANDWICK NSW 2031
Director Name BOUCHER, DESMONDRAYMOND
Appointment Date 25 Aug 2003
Date of Birth 16 May 1952
Place of Birth PIETERMARITZBURG SOUTH
AFRICA
Gender MALE
Resident Overseas N
29 WEMBURY RD ST IVES NSW 2075
Director Name ANTHONY, DAVID THOMAS
Appointment Date 20 Apr 2000
Date of Birth 12 Sep 1953
Place of Birth SYDNEY NSW
Gender MALE
Resident Overseas N
Address 50 EASTERN RD, TURRAMURRA NSW 2074
Director Name BOSWELL, JAMES WALTER
Appointment Date 19 Jul 1990
Date of Birth 01 May 1952
Place of Birth PHOENIX ARIZONA UNITED
STATES
Gender MALE
Resident Overseas Y
Current Secretaries Total: 2
Secretary Name AMENEIRO, LEANE MAREE
Appointment Date 25 Aug 2003
Date of Birth 12 Jun 1965
Place of Birth MARRICKVILLE NSW
Address 16 OGILVIE STREET EAST HILLS
NSW, 2213
Secretary Name BOUCHER, DESMOND
RAYMOND
Appointment Date 25 Aug 2003
Date of Birth 16 May 1952
Place of Birth PIETERMARITZBURG SOUTH
AFRICA
Address UNIT 310, 8 SAM SING STREET
WATERLOO NSW, 2017
BUSINESS
STRUCTURE
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
HOLDING ENTITY AUSCOTT
LIMITED
ULTIMATE HOLDING
ENTITY JG
BOSWELL COMPANY
BANK ANZ
BANKING GROUP
EMPLOYEES Not
Determined
293
(Group)
BACKGROUND
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
OPERATIONS
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.
ADVERSE
A search of the records on 30 April 2018 failed to trace any litigation
listed against the subject at that date.
FINANCES
The subject is not required to lodge financial statements with the
Australian Securities and Investments Commission.
During the current investigation contact with Finance Director Des
Boucher was unable to be established. Despite messages being left 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 2017 Auscott Ltd recorded
revenue of $192,648,000. This compares to revenue of $158,876,000 for the
previous corresponding year ended 30 June 2016.
For the year ended 30 June 2015 Auscott Ltd recorded revenue of
$140,193,000. This compares to revenue of $212,343,000 for the previous
corresponding year ended 30 June 2014.
For the year ended 30 June 2013 the Auscott Ltd recorded consolidated
revenue of $224,418,000.
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.
TRADE
SURVEY
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
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Indian Rupees |
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US Dollar |
1 |
INR 67.95 |
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1 |
INR 91.87 |
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Euro |
1 |
INR 80.27 |
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AUD |
1 |
INR 51.19 |
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 : |
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.