MIRA
INFORM REPORT
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Report Date : |
08.08.2007 |
IDENTIFICATION DETAILS
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Name : |
AMTRADE NEW ZEALAND PTY LTD |
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Registered Office : |
Level 2, |
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Country : |
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Date of Incorporation : |
12-SEP-2001 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Import and wholesale distribution of raw materials, specializing in chemicals, paint, ink, plastics, pharmaceutical, food and surface cleaning products. |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
REGISTERED NAME
AMTRADE NEW ZEALAND PTY LTD
Company Number
1160306
Company
AMTRADE NEW
ZEALAND LIMITED
Incorporated
12-SEP-2001
Current
Status
REGISTERED
Entity
Type
Company
Constitution Filed
Yes
Annual Return Filing
Month
June
Previous Names
No Previous Names on record
Address Details
Registered Office
Level 2
Grafton
Address for Service
Level 2
Grafton
Directors
Name Date
Appointed:
ADLER, Jonathan Ross 01-JAN-2006
ADLER, Norman Ross 12-SEP-2001
GILCHRIST, Roger James 30-JUN-2005
17 Hawthorn Glen, Hawthorn, Vic 3122,
WALTERS, Graham 01-JAN-2002
25 Holidays Road, Summertown, SA 5141,
Total Number of shares 888,000
Number of Shares 888,000
Shareholder(s) AWL
ENTERPRISES PTY LIMITED
BUSINESS STRUCTURE
TRADING ADDRESS
Level 2,
GRAFTON,
TELEPHONE (649) 579 6767
FACSIMILE (649) 576 6766
ASSOCIATED ENTITY
AMTRADE
INTERNATIONAL P/L
HOLDING ENTITY
AWL ENTERPRISES
LTD
BANK
ANZ BANKING CORPORATION
EMPLOYEES
Not determined
BACKGROUND
The subject was incorporated in
OPERATIONS
The subject operates in the import and wholesale distribution of raw materials, specializing in chemicals, paint, ink, plastics, pharmaceutical, food and surface cleaning products.
Activities are conducted from premises located at the above listed trading address.
FINANCES
From the subjects most recently lodged financial statements, it is noted that for the financial year ended 30 June 2006 the subject recorded revenue of $16,170,000, which resulted in an operating profit before tax of $697,000 and an operating profit after tax of $467,000 representing a Net Profit Margin of 2.89%.
Below is a summary of the subject’s income results for the past two financial years.
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Amtrade New Zealand Ltd |
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As at 30 June
2006 |
As at 30 June
2005 |
Change (%) |
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Revenue |
$16,170,000 |
$14,401,000 |
12.28% |
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Profit b/tax |
$697,000 |
$277,000 |
151.62% |
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Profit a/tax |
$467,000 |
$203,000 |
130.05% |
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Net Profit Margin |
2.89% |
1.41% |
1.48% |
As at 30 June 2006 the subject recorded total current assets of $5,601,000. They included cash of $712,000, receivables of $1,664,000 and inventories of $3,225,000.
Current liabilities at the same date totaled $3,117,000 and included payables of $2,633,000 and provisions of $117,000.
As at 30 June 2006, the subject recorded Working Capital of $2,484,000 and a current ratio of 1.8 to 1 indicating sound liquidity levels.
Net Assets totaled $1,548,000 as at 30 June 2006. At this date, the subject further recorded a Debt to Equity ratio of 2.66 to 1.
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Amtrade New Zealand Ltd |
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As at 30 June
2006 |
As at 30 June
2005 |
Change (%) |
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Revenue |
$16,170,000 |
$14,401,000 |
12.28% |
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Profit b/tax |
$697,000 |
$277,000 |
151.62% |
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Profit a/tax |
$467,000 |
$203,000 |
130.05% |
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Net Profit Margin |
2.89% |
1.41% |
1.48% |
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Current Assets |
$5,601,000 |
$4,738,000 |
18.21% |
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Non Current Assets |
$64,000 |
$71,000 |
-9.86% |
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Total Assets |
$5,665,000 |
$4,809,000 |
17.80% |
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Current Liabilities |
$3,117,000 |
$2,157,000 |
44.51% |
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Non Current Liabilities |
$1,000,000 |
$1,350,000 |
-25.93% |
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Total Liabilities |
$4,117,000 |
$3,507,000 |
17.39% |
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Net Assets |
$1,548,000 |
$1,302,000 |
18.89% |
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Working Capital |
$2,484,000 |
$2,581,000 |
-3.76% |
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Current Ratio |
1.80 |
2.20 |
-18.19% |
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Debt to Equity |
2.66 |
2.69 |
-1.26% |
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.
SUMMARY
The subject was incorporated in
For the financial year ended 30 June 2006 the subject recorded revenue of $16,170,000, which resulted in an operating profit before tax of $697,000 and an operating profit after tax of $467,000 representing a Net Profit Margin of 2.89%.
As at 30 June 2006, the subject recorded Working Capital of $2,484,000 and a current ratio of 1.8 to 1 indicating sound liquidity levels.
Net Assets totaled $1,548,000 as at 30 June 2006.
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 |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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 and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)