MIRA
INFORM REPORT
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Report Date : |
3rd
June, 2006. |
IDENTIFICATION
DETAILS
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Name : |
ADAPT
AUSTRALIA PTY LIMITED |
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Registered Office : |
11-19
Global Drive, Tullamarine, VIC 3043 |
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Country : |
Australia |
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Date of Incorporation : |
20.07.1992 |
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Com. Reg. No.: |
056
872 970s |
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Legal Form : |
Australian Proprietary Company, Limited
By Shares |
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Line of Business : |
The
company is Trading as Australian Distribution And Protection Technologies |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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Status : |
Undetermined |
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Payment Behaviour : |
- |
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Litigation : |
- |
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REGISTERED
NAME: |
ADAPT
AUSTRALIA PTY LTD |
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AUSTRALIAN
COMPANY NUMBER: |
056
872 970 |
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AUSTRALIAN
BUSINESS NUMBER: |
48 056
872 970 |
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OPERATING
ADDRESS: |
11-19
Global Drive, TULLAMARINE,
VIC 3043 |
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REGISTERED
ADDRESS: |
11-19
Global Drive, TULLAMARINE,
VIC 3043 |
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OTHER
TRADING NAMES: |
Nil |
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TELEPHONE
NUMBER: |
(03)
9330 0666 |
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WEB
SITE ADDRESS: |
www.adaptaust.com.au |
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DATE
OF INCORPORATION: |
20
July 1992 – Incorporated in Victoria
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CHANGE
OF NAME: |
Nil |
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PAID
CAPITAL: |
$150
in $1 shares. |
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DIRECTORS: |
GRANT
DEAN SANDARS 1
Royal Crescent, HILLSIDE,
VIC 3037 DARREN
CRAIG SANDARS 21
Pastoral Place, SYDENHAM,
VIC 3037 PETER
ANTHONY SANDARS 2
Bellbird Avenue, TAYLORS
LAKES, VIC 3038 CHRISTINE
SANDARS 2
Bellbird Avenue, TAYLORS
LAKES, VIC 3038 |
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SHAREHOLDERS: |
Refer
HISTORY |
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SECRETARY: |
CHRISTINE
SANDARS |
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AUDITORS: |
Not
shown |
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REGISTERED
CHARGES: |
Refer
REGISTERED CHARGES |
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PAYMENTS: |
Refer
TRADING |
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LEGAL
ACTIONS / DEFAULTS: |
Nil |
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EMPLOYEES: |
The
number of employees have been declined. |
PARENT COMPANY
NIL
ACTIVITIES:
ADAPT
Australia, trading as Australian Distribution And Protection Technologies, was
formed in July 1992 to service the Electrical Power Industry within Australia,
New Zealand and the Pacific Islands with a range of cost effective Distribution
and Transmission products and services. Products are sourced from both local
and overseas-based suppliers, all of whom are highly respected market leaders
in their particular fields of manufacture and product supply.
In April 2001
ADAPT Australia became a major equity shareholder in MEFCO Australia, a steel
fabrication and metal forging specialist, formerly known as Maryborough
Engineering and Fabrication Company Pty Ltd. The national marketing of MEFCO
products is being handled by ADAPT.
ADAPT Australia
are specialist contract / project suppliers and stockists of an extensive range
of brand name products for the Electrical Power Industry.
With three
interstate offices and a distributor network throughout Australia, New Zealand
and Fiji, ADAPT will promptly supply an extensive range of products, from local
and overseas manufacturers, to meet the needs of Utility, Mining, OEM and
Industrial Customers alike.
Operations
are conducted from premises situated at the heading address.
The number of employees have been declined.
HISTORY
The subject was incorporated in Victoria on 20 July 1992 as Adapt Australia Pty Ltd, being an Australian Proprietary Company, Limited By Shares.
Australian Company Number: 056 872 970.
Paid capital $150 in 150 shares paid to $1 each.
Shares are held by:
PETER ANTHONY SANDARS 75
CHRISTINE SANDARS 75
The above information is in accordance with the last Company Statement Annual lodged with the Australian Securities and Investments Commission and compiled at report date.
DIRECTORS
GRANT DEAN SANDARS was born on 19 July 1971 and was appointed to the board of directors on 30 October 1995. He is active in company operations.
DARREN CRAIG SANDARS was born on 23 September 1969 and was appointed to the board of directors on 30 October 1995. He is active in operations.
PETER ANTHONY SANDARS was born on 7 July 1948 and was appointed to the board of directors on 21 July 1992. He is also active in company operations.
CHRISTINE SANDARS was born on 23 April 1951 and was appointed to the board of directors on 21 July 1992. She is also the Company Secretary, having been appointed to this position on 21 July 1992.
BANK
COMMONWEALTH BANK OF AUSTRALIA LIMITED
The bank holds a Registered Charge over company assets. Please refer to the REGISTERED CHARGE section for details.
TRADING
Trade references in relation to the subject have been declined.
FINANCE
Due to amendments to the Corporations Law by the First Corporate Law Simplification Act 1995, subject is not required to lodge financial statements with the Australian Securities & Investment Commission.
disclose the following inquiries in relation to finance applications:
On 21 March 2006 to Canon Finance Aust Vic for Lending Proposal.
On 13 September 2000 to Canon Finance Aust Vic for Leasing.
Nothing further has been recorded.
REGISTERED CHARGES
The following Registered Charge has been recorded over the subject’s assets:
On 18 March 2005, Fixed and Floating Charge to Commonwealth Bank Of Australia, ASIC Charge No. 1141370.
Should you require further details in relation to the
above Charge a Registered Charge Search can be undertaken.
]
RECORDED ACTIONS
Nothing of an adverse nature has been recorded against the subject.
INVESTIGATION
An interview was conducted with Mr Grant D Sandars, Director, in June 2006. At this time he declined all information in relation to the subject’s activities, trading and financial position, stating that if the name of the enquirer is made known, consideration would be given to providing the relevant details.
Enquiries made with trade sources failed to trace any additional information in relation to the subject.
A Land Titles Search has not been undertaken to ascertain what land, if any, stands in the subject’s name. This can be undertaken on request.
CONCLUSION
The subject was incorporated in Victoria on 20 July 1992 as Adapt Australia Pty Ltd, being an Australian Proprietary Company, Limited By Shares.
Paid capital $150 in 150 shares paid to $1 each.
ADAPT
Australia are specialist contract / project suppliers and stockists of an
extensive range of brand name products for the Electrical Power Industry.
Full
details in relation to the company have been declined.
PRIME
CREDIT RATING: NR
ADAPT
AUSTRALIA (060603)
03/06/06
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No
caution needed for credit transaction. It has above average (strong)
capability for payment of interest and principal sums |
Large |
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56-70 |
A |
Financial & operational base are
regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of
interest and principal sums in default or expected to be in default upon
maturity |
Limited with full security |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |