MIRA
INFORM REPORT
|
Report Date : |
29.08.2007 |
IDENTIFICATION DETAILS
|
Name : |
FARIN TIMBERS INT PTY LTD |
|
|
|
|
Registered Office : |
13, |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
8 November 1994 |
|
|
|
|
Legal Form : |
Trust |
|
|
|
|
Line of Business : |
Import and wholesale of timber. |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
Status : |
Trust |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
REGISTERED NAME
FARIN TIMBERS INT PTY LTD
ACN
067 096 360
ABN
17 858 011 950
INCORPORATED
8 November 1994
REGISTERED ADDRESS
13,
BRISBANE, QLD 4000
SHARECAPITAL
$100
SHAREHOLDERS
FARROKH, Mohammed Holds 100 shares
DIRECTORS
FARROKH, Mohammed
SECRETARY
DAVIS, Wayne James
REGISTERED CHARGES
Registered Charge Number : 824610
Date Registered : 05.10.2001
Status : Fixed and floating
Creditor : Suncorp Metway
BUSINESS STRUCTURE
TRADING ADDRESS
TELEPHONE (617) 3279 0028
AFFILIATED ENTITY
FARLIN TIMBERS PTE
LTD –
BANK
SUNCORP METWAY
EMPLOYEES
1
BACKGROUND
The subject was incorporated in
OPERATIONS
The subject operates in the import and wholesale of timber.
Activities are conducted from premises located at the above listed trading address.
ADVERSE
A search of the 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
Manager, he advised that Director, Mohammed Farrokh is not based in
Details pertaining to the subject’s financial position were not provided for the current enquiry.
The subject maintains
a financing facility with the Suncorp Metway, which is secured by a registered
charge over certain fixed and floating assets of the company.
In regards to asset backing, the subject is noted to own the premises located at the above listed trading address. A property search can be conducted at your request to confirm ownership.
The subject is noted to operate in its capacity on behalf of the Farlin Timbers Int Trust. Unsecured creditors are placed at maximum risk when dealing with a trustee company.
TRADE SURVEY
During the current investigation, it was advised that the subject imports all requirements and maintains no domestic creditors.
A trade survey on the subject was subsequently unable to be conducted.
SUMMARY
The subject was incorporated in
Details pertaining to the subjects trading and financial position were unable to be obtained for the current enquiry.
In regards to asset backing, the subject is noted to own the premises located at the above listed trading address.
The subject is noted to operate in its capacity on behalf of the Farlin Timbers Int Trust. Unsecured creditors are placed at maximum risk when dealing with a trustee company.
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)