MIRA
INFORM REPORT
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Report Date : |
26.07.2007 |
IDENTIFICATION DETAILS
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Name : |
BIS BUSINESS IMPORT AND SERVICES PRIVATE LIMITED |
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Registered Office : |
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Country : |
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Date of Incorporation : |
20.10.2005 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Importer and wholesalers of power transmission products. |
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/normal. |
Small |
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Status : |
Small Company |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
SPECIAL NOTE
During the current
investigation, it was advised that the correct legal entity is BIS Business
Import & Services Private Limited
REGISTERED NAME
BIS BUSINESS IMPORT & SERVICES PRIVATE LIMITED
INCORPORATED
20 October 2005
REGISTERED ADDRESS
HAWTHORN, VIC 3122
SHARECAPITAL
$100
SHAREHOLDERS
POYSTER, Maxwell
Andrew Holds 100 shares
DIRECTORS
POYSTER, Maxwell
Andrew
BAYSWATER NORTH, VIC 3153
SECRETARY
BORKOWSKI, Bohdan Zbigniew
REGISTERED CHARGES
Registered Charge Number : 1258234
Date Registered : 25.01.2006
Status : Fixed and floating
Creditor : WW Industrial
Registered Charge Number : 1247349
Date Registered : 23.12.2005
Status : Fixed and floating
Creditor : Maxwell Andrew Poyster
BUSINESS STRUCTURE
TRADING ADDRESS Factory
3,
LILYDALE, VIC 3140
TELEPHONE (613) 9739 5666
FACSIMILE (613) 9739 5646
BANK WESTPAC BANKING CORPORATION
EMPLOYEES 6
BACKGROUND
The subject was incorporated in
The subject was formed to take over the assets and operations of Business and Import Services Private Limited
OPERATIONS
The subject operates in the import and wholesale of power transmission products.
Activities are conducted from leased 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 Maxwell Poyster, he advised that for the last financial year ended 30 June 2007, the subject traded profitably and recorded revenue of $1,000,000.
Current assets include stock on hand of $300,000 and receivables of $150,000 to $160,000.
The subject is noted to maintain registered charges in favour of WW Industrial and Director Maxwell Poyster.
Current liabilities include creditors of $100,000
Enquiries in trade quarters revealed satisfaction from suppliers contacted in dealing with the subject on a credit basis.
TRADE SURVEY
A trade survey on the subject traced the following accounts:
- Purchases average $2,500 per month on 60 day terms. Payment is met in 55 to 65 days and the account is considered satisfactory, having been known since June 2005.
- Purchases range between $5,000 and $20,000 per month on 30 day terms. Payment is met in 45 to 60 days and the account is considered satisfactory, but slow at times, having been known since 2005.
SUMMARY
The subject was incorporated in
The subject was formed to take over the assets and operations of Business & Import Services Private Limited
For the last financial year ended 30 June 2007, the subject traded profitably and recorded revenue of $1,000,000.
The subject is noted to maintain registered charges in favour of WW Industrial and Director Maxwell Poyster.
Enquiries in trade quarters revealed satisfaction from suppliers contacted in dealing with the subject on a credit basis.
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%)