MIRA
INFORM REPORT
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Report Date : |
13.08.2007 |
IDENTIFICATION DETAILS
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Name : |
AUSCOTT MARKETING PTY LTD |
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Registered Office : |
12, |
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Country : |
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Date of Incorporation : |
26 July 1985 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Marketing and distribution of cotton. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
REGISTERED NAME
AUSCOTT MARKETING PTY LTD
ACN
002 970 667
INCORPORATED
26 July 1985
REGISTERED ADDRESS
12,
SYDNEY, NSW 2000
SHARECAPITAL
$250,000
SHAREHOLDERS
AUSCOTT LIMITED Holds
250,000
DIRECTORS
BOUCHER, Desmond
Raymond
1,
HALL, Ross Finley
Resident overseas
RAILSBACK, Richard
Sherman
Resident overseas
LODER, Bruce James
33 Pacific view Dr
TINBEERWAH, QLD 4563
BOSWELL, James
Walter
Resident overseas
SECRETARY
AMENEIRO, Leane Maree
REGISTERED CHARGES
None on record
BUSINESS STRUCTURE
TRADING ADDRESS
Level 12,
SYDNEY, NSW 2000
TELEPHONE (612) 9295 4800
FACSIMILE (612) 9295 4888
HOLDING ENTITY
AUSCOTT LIMITED
ULTIMATE HOLDING
ENTITY
JG BOSWELL COMPANY
BANK
ANZ BANKING GROUP
EMPLOYEES
Nil
220 (group)
BACKGROUND
The subject was incorporated in
The holding entity, Auscott Limited was founded in 1963 by the
J.G. Boswell Company of
OPERATIONS
The subject operates in the marketing and distribution of cotton.
Activities are conducted from premises located at the above listed trading address.
ADVERSE
A search of the of Credit Advantage Limited 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, Erica Adlam, she advised that the subject operates as the marketing arm of the group.
Ms Adlam advised that for the year ended 30 June 2007, the subject recorded revenue of $200,000,000. A similar result was achieved for the previous corresponding year ended 30 June 2006.
Further financial information pertaining to the subject was unable to be obtained for the current enquiry.
The Ultimate Holding entity JG. Boswell grows and mills cotton
on 150,000 acres in
TRADE SURVEY
During the current investigation, it was advised that the subject is not a significant seeker of commercial credit.
A trade survey on the subject was subsequently unable to be conducted.
SUMMARY
The subject was incorporated in
The holding entity, Auscott Limited was founded in 1963 by the
J.G. Boswell Company of
For the year ended 30 June 2007, the subject recorded revenue of $200,000,000. A similar result was achieved for the previous corresponding year ended 30 June 2006.
The Ultimate Holding entity JG. Boswell grows and mills cotton
on 150,000 acres in
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. |
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%)