MIRA
INFORM REPORT
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Report Date : |
26.07.2007 |
IDENTIFICATION DETAILS
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Name : |
ART DATA PTY LTD |
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Registered Office : |
1, |
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Country : |
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Date of Incorporation : |
9 Feb 2004 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Development of an electronic data base for the art market. |
RATING & COMMENTS
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MIRA’s Rating : |
NR |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Under Development Phase |
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Payment Behaviour : |
-- |
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Litigation : |
-- |
REGISTERED NAME
ART DATA PTY LTD
INCORPORATED
9 Feb 2004
REGISTERED ADDRESS
1,
SHARECAPITAL
$2
SHAREHOLDERS
KNIGHT, Howard Holds
2 shares
DIRECTORS
KNIGHT, Howard
KNIGHT, Charles
29A
SECRETARY
KNIGHT, Charles
29A
REGISTERED CHARGES
None on record
BUSINESS STRUCTURE
TRADING ADDRESS
TELEPHONE (618) 9284 2565
BANK
Not determined
EMPLOYEES
2
BACKGROUND
The subject was incorporated in
OPERATIONS
The subject operates in the development of an electronic data base for the art market.
The database will bring together all the relevant information
that is the framework of an artist’s career and in turn the substance of the
Australian and
Information available for each artist will include biography and annotated CV, press articles, catalogue essays, critical commentary, market data and statistics in summary and graphical format, as well as details of works produced with images where available. Other information will include details on public and commercial galleries, auction houses, auction results, works currently available at commercial galleries, upcoming events etc.
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 Director Howard Knight, he advised that the subject is in the process of developing and online database for the art market.
Mr Knight advised that the subject is still in the development phase of operations with trading activities due to commence in 3 months.
The subject maintains no overdraft facilities or external borrowings as all operations are funded through the cash flows of the company.
Further details pertaining to the subject’s financial position were unable to be obtained for the current enquiry.
TRADE SURVEY
A trade survey on the subject traced the following accounts:
Nominated supplier failed to respond to correspondence despite chasing.
SUMMARY
The subject was incorporated in
The subject is in the process of developing and online database for the art market.
The subject is still in the development phase of operations with trading activities due to commence in 3 months.
The subject maintains no overdraft facilities or external borrowings as all operations are funded through the cash flows of the company.
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%)