MIRA
INFORM REPORT
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Report Date : |
19.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
PENTARCH FOREST PRODUCTS LTD |
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Registered Office : |
Ground Floor, 15 Day Street, Newtonm, Auckland 1001 |
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Country : |
New Zealand |
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Date of Incorporation : |
17-Apr-2001 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Operates as the timber trading division of the Pentarch Group. |
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. |
Small |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
REGISTERED NAME
PENTARCH FOREST PRODUCTS LTD
Company Number
1119371
Company
PENTARCH FOREST PRODUCTS LIMITED
Incorporated
17-APR-2001
Current Status
REGISTERED
Entity Type
Company
Constitution Filed
Yes
Annual Return Filing Month
November
Previous Names
No Previous Names on record
Address Details
Registered Office
Ground Floor
15 Day Street
Newton
Auckland 1001
Address for Service
Ground Floor
15 Day Street
Newton
Auckland 1001
Directors
Name Date Appointed:
BERG, Peter Jack 26-NOV-2003
383 Riddell Road, Glendowie, Auckland
HILL, Peter John 26-NOV-2003
20a Seascape Road, Remuera, Auckland
MCCOMB, Malcolm David 17-APR-2001
10 Glebe Avenue, Cheltenham, Victoria, Australia 3192
YUNCKEN, Simon John 09-AUG-2005
38 Hoddle Street, Elsternwick, Victoria 3185, Australia
Share Parcels
Total Number of shares 282,662
Number of Shares 200,000
Shareholder(s) TIMBER AUDITS AND TECHNOLOGY PTY LIMITED
Level 1, Kings Garden Estate, 99 Coventry Street, South Melbourne, Australia
Number of Shares 24,529
Shareholder(s) KINGI, Walter William
41 Boundary Road, Tikipunga, Whangarei
Number of Shares 23,810
Shareholder(s) BERG, Peter Jack
383 Riddell Road, Glendowie, Auckland
Number of Shares 19,318
Shareholder(s) COX, Linton Robert
Ritichie Road, Parua Bay, Whangarei
Number of Shares 15,005
Shareholder(s) HILL, Peter John
20a Seascape Road, Remuera, Auckland
BUSINESS STRUCTURE
TRADING ADDRESS
Level 5 126 Vincent Street
Auckland, NZ
TELEPHONE (649) 309
9933
HOLDING ENTITY
TIMBER AUDITS AND TECHNOLOGY LTD
ULTIMANT HOLDING
PENTARCH PTY LTD
BANK
Not determined
EMPLOYEES
Not determined
BACKGROUND
The subject was incorporated in New Zealand on 17 April 2001 under the
current style.
Commencing in 1993 with initial shipments to Korea the company has successfully expanded its operations to supplying customers in Japan, China, Indonesia, Vietnam, India, Malaysia and the United Arab Emirates.
OPERATIONS
The subject operates as the timber trading division of the Pentarch
Group.
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 $39,688,150,
which resulted in an operating loss before tax of $97,297 and an operating loss
after tax of $92,206.
Below is a summary of the subject’s income results for the past two
financial years.
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Pentarch Forest Products Ltd |
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As
at 30 June 2006 |
As
at 30 June 2005 |
Change
(%) |
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Revenue |
$39,688,150 |
$44,195,877 |
-10.20% |
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Profit b/tax |
($97,297) |
$18,937 |
-613.79% |
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Profit a/tax |
($92,206) |
$25,162 |
-466.45% |
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Net Profit Margin |
-0.23% |
0.06% |
-0.29% |
As at 30 June 2006, the subject recorded total current assets of
$3,212,373. They included cash of $279,363, receivables of $1,914,744 and stock
of $885,859.
Current liabilities at the same date totalled $3,337,973 and included
payables of $2,578,974.
As at 30 June 2006, the subject recorded a deficiency in Working Capital
of $25,600 and a current ratio of 0.99 to 1.
Net Assets totalled $63,856 as at 30 June 2006. At this date, the
subject further recorded a Debt to Equity ratio of 52.27 to 1.
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Pentarch Forest Products Ltd |
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As
at 30 June 2006 |
As
at 30 June 2005 |
Change
(%) |
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Revenue |
$39,688,150.00 |
$44,195,877.00 |
-10.20% |
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Profit b/tax |
($97,297.00) |
$18,937.00 |
-613.79% |
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Profit a/tax |
($92,206.00) |
$25,162.00 |
-466.45% |
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Net Profit Margin |
-0.23% |
0.06% |
-0.29% |
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Current Assets |
$3,312,373.00 |
$3,473,019.00 |
-4.63% |
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Non Current Assets |
$89,456.00 |
$291,229.00 |
-69.28% |
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Total Assets |
$3,401,829.00 |
$3,764,248.00 |
-9.63% |
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Current Liabilities |
$3,337,973.00 |
$3,608,186.00 |
-7.49% |
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Non Current Liabilities |
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#DIV/0! |
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Total Liabilities |
$3,337,973.00 |
$3,608,186.00 |
-7.49% |
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Net Assets |
$63,856.00 |
$156,062.00 |
-59.08% |
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Working Capital |
($25,600.00) |
($135,167.00) |
-81.06% |
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Current Ratio |
0.99 |
0.96 |
3.10% |
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Debt to Equity |
52.27 |
23.12 |
126.09% |
TRADE SURVEY
During the current investigation, contact with the subjects 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 New Zealand on 17 April 2001 under the
current style.
Operations commenced in 1993.
for the financial year ended 30 June 2006 the subject recorded revenue
of $39,688,150, which resulted in an operating loss before tax of $97,297 and
an operating loss after tax of $92,206.
As at 30 June 2006, the subject recorded a deficiency in Working Capital
of $25,600 and a current ratio of 0.99 to 1.
Net Assets totalled $63,856 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. |
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%)