MIRA
INFORM REPORT
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Report Date : |
27.07.2007 |
IDENTIFICATION DETAILS
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Name : |
A.E.M. CORES PTY LTD |
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Registered Office : |
2, |
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Country : |
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Date of Incorporation : |
19 April 1962 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Distribution and design of magnetic transformer cores and manufacturing equipment. |
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 : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
REGISTERED NAME
A.E.M. CORES PTY LTD
INCORPORATED
19 April 1962
REGISTERED ADDRESS
2,
PARKSIDE, SA
5063
SHARECAPITAL
$3,014
SHAREHOLDERS
JENKINSON,
Noeline Holds 1,506 shares
DIRECTORS
JENKINSON, Mark
HIGHBURY, SA
5089
JENKINSON,
Noeline
HIGHBURY, SA
5089
SECRETARY
JENKINSON,
William
REGISTERED CHARGES
Registered Charge Number : 1212998
Date Registered : 30.09.2005
Status : Fixed
Creditor : Adelaide
Bank
Registered Charge Number : 128529
Date Registered : 28.03.1972
Creditor : Westpac
Bank
BUSINESS STRUCTURE
TRADING ADDRESS
GILLMAN, SA 5013
TELEPHONE (618) 8341 0086
FACSIMILE (618) 8341 0225
BANK
WESTPAC BANKING
CORPORATION
EMPLOYEES
26
BACKGROUND
The subject was incorporated in
Operations were
established as a new venture in 1962.
OPERATIONS
The subject operates distribution and design of magnetic transformer cores and manufacturing equipment.
Activities are conducted from premises located at the above listed trading address.
ADVERSE
A search of the of Baycorp 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 Mark Jenkinson, he confirmed the subject’s search and operational details, however declined to release any details pertaining to the subjects financial and trading position unless the source of the enquiry was disclosed.
As a result, details in this regard were unable to be obtained for the current enquiry.
The subject maintains
a financing facility with the Westpac Bank, which is secured by a registered
charge over certain fixed and floating assets of the company.
TRADE SURVEY
During the current investigation, details pertaining to the subjects suppliers were not provided.
A trade survey on the subject was subsequently unable to be conducted.
SUMMARY
The subject was incorporated in
Operations were established as a new venture in 1962.
During the current investigation, details pertaining to the subjects financial and trading position were unable to be obtained.
The subject maintains
a financing facility with the Westpac Bank, which is secured by a registered
charge over certain fixed and floating assets 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%)