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MIRA
INFORM REPORT
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Report No. : |
510533 |
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Report Date : |
28.05.2018 |
IDENTIFICATION DETAILS
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Name : |
BUCKMAN LABORATORIES P/L |
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Registered Office : |
Office
Building 2 280 Byrnes Road PO Box 1396 Wagga Wagga, NSW, 2650 |
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Country : |
Australia |
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Date of Incorporation : |
12.07.1971 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Subject is engaged in import and distribution of specialty chemicals
for target markets that include Pulp and Paper Technologies and Leather
Technologies. |
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No. of Employees : |
22 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRAs 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 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. Australias 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 |
Company name
REGISTERED
NAME BUCKMAN
LABORATORIES P/L
ACN 000922118
ABN 53000922118
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Summary Panel |
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Established |
1971 |
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Incorporated |
1971 |
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Line of Business |
Import
and distribution of specialty chemicals |
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Status |
Trading |
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Chief Executive Officer |
Leigh
Mann |
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Adverse Listings |
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CONTENTS
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EXECUTIVE SUMMARY
For
the last financial year ended 31 December 2017 the subject trade profitably and
recorded revenue of $15,000,000 to $20,000,000.
On
a projected basis, some growth is expected for the current financial year
ending 30 June 2018.
The
subject maintains no overdraft facilities as all operations are funded through
the internal cashflows of the company.
CORPORATE SEARCH
Company
Type Australian Proprietary Company
Registered in: New
South Wales
Registration date: 12/07/1971
Next review date: 12/07/2018
Status: Registered
Company type: Australian
Proprietary Company
Class: Limited
By Shares
Subclass: Proprietary
Company
Registered address: CREAGHE LISLE SOLICITORS, 52 Gurwood Street,
WAGGA
WAGGA NSW 2650
Business address:
'2' Off Buildin, 280 Byrnes Road, WAGGA WAGGA
NSW 2650
Director
Name: KATHERINE BUCKMAN GIBSON
Address: 1256 N.mclean St Memphis Tennessee 38108,
United States
Born: 14/12/1961, MEMPHIS TENNESSEE, UNITEDSTATES
Appointment date: 31/01/2014
Name: ASHOK RAMAMURTHY
Address: 222 Depot Road, 06-81, Singapore
Born: 13/06/1965, CHENNIA, INDIA
Appointment date: 01/01/2017
Name: JUNAI ARUNKUMAR MAHARAJ
Address: 1455 Grove Meadow Court, Germantown,
Memphis,
Tennessee, United States
Born: 27/12/1973, ZAF, SOUTH AFRICA
Appointment date: 28/04/2017
Name: RODNEY PAUL TAYLOR
Address: 25 Cecil Street, WILLIAMSTOWN VIC 3016
Born: 04/07/1971, SHEPPARTON, VIC
Appointment date: 02/03/2018
Appointed Auditor
Name: BDO KENDALLS AUDIT & ASSURANCE (VIC)
Address: Level 19 2 Market Street SYDNEY NSW 2000
Start date: 22/01/2009
Ultimate Holding Company
Name: BULAB HOLDINGS, INC. 0092211A
Org No.: 052 354 257
Share Information
ORD ORDINARY SHARES 10116293
$10116293.
Members
Name: BUCKMAN LABORATORIES (ASIA) PTE LTD
Org No.: 167 694 313
Address: Marina Bay Financial Centre, #05-02, 8
Marina Boulevarde, Singapore
ORD 10116293 yes FULLY
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 Office Building 2
280 Byrnes Road
PO Box 1396
Wagga Wagga, NSW, 2650, Australia
Office
Phone: +61 2 6923 5888
Office
Fax: +61 2
6923 5889
Email australia@buckman.com
WEBSITE www.buckman.com
CONTROLLED
ENTITY BUCKMAN LABORATORIES NEW ZEALAND
LTD
HOLDING
ENTITY BUCKMAN
LABORATORIES (ASIA) PTE LTD
ULTIMATE
HOLDING
ENTITY BULAB HOLDINGS INC.
BANK WESTPAC BANKING
CORPORATION
EMPLOYEES 22
BACKGROUND
The
subject was incorporated in on 12 July 1971 under the current style.
Buckman
Laboratories New Zealand Limited, the New Zealand trading operation, was
incorporated in December 1991.
During
the period 1971 to 1990, the Australian operation was headquartered in offices
at Granville, Sydney NSW and product warehoused at various locations in
Australia and New Zealand. In 1993, Buckman relocated its operation to Wagga
Wagga NSW, with a specialised distribution network covering the Eastern States
of Australia and throughout New Zealand.
Global
operations were founded in 1945.
OPERATIONS
The
subject operates in the import and distribution of specialty chemicals for
target markets that include Pulp and Paper Technologies and Leather
Technologies.
The
Performance Chemicals Division also actively works with other industries such
as power , mining, recreational water, paint and coatings, sugar, metalworking
fluids, formulators, wood treatment, and drilling fluid additives.
Buckman
Australia is ISO 9001:2008 accredited and has an AS 4801 aligned safety
management system in place.
Activities
are conducted from leased premises located at the above listed trading address.
ADVERSE
A search of records of on 22 May 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 interview conducted
with the subjects financial Controller Robyn she advised that for the last
financial year ended 31 December 2017 the subject trade profitably and recorded
revenue of $15,000,000 to $20,000,000.
On a projected basis, some growth is
expected for the current financial year ending 30 June 2018.
The
subject maintains no overdraft facilities as all operations are funded through
the internal cashflows of the company.
TRADE SURVEY
A trade survey on the subject traced
the following accounts:
(Ron Crouch Transport) Purchases
average $30,000per month on 30 day terms. Payment is met in 34 days and the
account is considered satisfactory, having been known since 2006.
(S&S Automation) Purchases average
$200,000per month on 30 day terms. Payment is met in 30 days and the account is
considered satisfactory, having been known over 5 years
Trade payment records from further
sources in the past 4 months have traced the following data for the
subject.
Total
Owing: $500
Total
Past Due: $0
Average Late Payment Days: 0
All Industries Late Payment Days: 7
Within
terms: $500
1
30 days past due: $0
31
60 days past due: $0
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 68.26 |
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1 |
INR 91.21 |
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Euro |
1 |
INR 79.88 |
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AUD |
1 |
INR 50.93 |
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 : |
DNS |
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
SCs 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
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Promoters
/ Management background
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Payment
record
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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.