MIRA
INFORM REPORT
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Report Date : |
08.06.2007 |
IDENTIFICATION DETAILS
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Name : |
TRAVELRITE INTERNATIONAL PTY LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
6 May 1981 |
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Legal Form : |
Proprietary Company, Limited By Shares |
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Line of Business : |
Operates as general travel agents. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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REGISTERED NAME: |
TRAVELRITE
INTERNATIONAL PTY LTD |
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AUSTRALIAN
COMPANY NUMBER: |
005 817 078 |
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AUSTRALIAN
BUSINESS NUMBER: |
64 005 817 078 |
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OPERATING
ADDRESS: |
BALWYN, VIC 3103 |
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REGISTERED ADDRESS: |
HEATHMONT, VIC
3135 |
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OTHER TRADING
NAMES: |
Travelrite Balwyn Travel Bound Balwyn |
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TELEPHONE
NUMBER: |
(03) 9836 2522 |
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WEB SITE
ADDRESS: |
www.travelrite.com.au |
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DATE OF
INCORPORATION: |
6 May 1981 – Incorporated in |
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CHANGE OF NAME: |
15 May 1981 - To present name. |
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PAID CAPITAL: |
$85,000 in $1 shares. |
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DIRECTORS: |
Refer Below |
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SHAREHOLDERS: |
Refer HISTORY |
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SECRETARY: |
Sandra Joy
Walliss |
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AUDITORS: |
Not shown |
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REGISTERED
CHARGES: |
Refer REGISTERED CHARGES |
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PAYMENTS: |
13 days and promptly |
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LEGAL ACTIONS /
DEFAULTS: |
Nil |
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EMPLOYEES: |
24 |
PARENT COMPANY
NIL
SUBSIDIARY COMPANIES
NIL
ASSOCIATE COMPANIES
NIL
ACTIVITIES
The subject operates as general travel agents.
The company has the trading styles:
Travelrite Balwyn
Travel Bound Balwyn
Operations are conducted from leased premises situated at the heading address.
The company has a branch at
The subject employs 24 in activities.
HISTORY
The subject was incorporated in
Australian Company Number: 005 817 078.
Paid capital $85,000 in 85,000 shares paid to $1 each.
Shares are held by:
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NEVILLE STUART WALLISS |
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Number of Shares: |
34850 |
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Shareholder Name: |
SANDRA JOY WALLISS |
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Number of Shares: |
33159 |
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Shareholder Name: |
NIGEL STUART WALLISS |
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Number of Shares: |
2550 |
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Shareholder Name: |
SHAWN JAMES WALLISS |
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Number of Shares: |
2550 |
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Shareholder Name: |
SIMON ANDREW WALLISS |
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Number of Shares: |
2550 |
The above information is in accordance with the last Company Statement Annual
lodged with the Australian Securities and Investments Commission and compiled
at report date.
Operations of the company were commenced in 1979.
The subject does not maintain any operating subsidiary or associate
concerns.
DIRECTORS
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WALLISS, SHAWN JAMES |
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Appointment Date: |
07 Jun 2006 |
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Date of Birth: |
31 Mar 1975 |
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Gender: |
Male |
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Address: |
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Resident Overseas: |
No |
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Director
Name: |
WALLISS,
SIMON ANDREW |
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Appointment
Date: |
11 Dec 2002 |
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Date of
Birth: |
03 Jun 1969 |
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Gender: |
Male |
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Address: |
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Resident
Overseas: |
No |
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Director
Name: |
WALLISS, NIGEL
STUART |
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Appointment
Date: |
11 Dec 2002 |
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Date of
Birth: |
12 Apr 1973 |
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Gender: |
Male |
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Address: |
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Resident
Overseas: |
No |
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Director
Name: |
WALLISS,
SANDRA JOY |
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Appointment
Date: |
02 May 1984 |
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Date of
Birth: |
03 Oct 1943 |
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Gender: |
Female |
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Address: |
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Resident
Overseas: |
No |
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Director
Name: |
WALLISS,
NEVILLE STUART |
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Appointment
Date: |
02 May 1984 |
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Date of
Birth: |
05 Jul 1939 |
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Gender: |
Male |
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Address: |
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Resident
Overseas: |
No |
BANK
BALWYN, VIC 3103
The bank does not hold a Registered Charge over company assets.
TRADING
Following are details of a trade survey undertaken in June 2007:
1.
This account averages $5,000 per month. The terms
of the account are 10 days with payment being met in 13 days. The account has
been held for 10 years and there are no problems.
2.
This account varies between $100-$4,000 per month.
Payment is being met in a prompt manner. The subject has traded with this
supplier for 8-9 years and is a no problem and very good account.
FINANCE
Due to amendments to the Corporations Law by
the First Corporate Law Simplification Act 1995, subject is not required to
lodge financial statements with the Australian Securities & Investment
Commission.
disclose the following inquiries in relation
to finance applications:
On 22 July 2003 to Diners Club International for Credit Card.
Nothing further has been recorded.
REGISTERED CHARGES
There are no Registered Charges existing over the subject’s assets.
RECORDED ACTIONS
Nothing of an adverse nature has been recorded against the subject.
INVESTIGATION
An interview was conducted with Mr Nigel S Walliss, Director, in June
2007. At this time he confirmed operational and trading details and advised the
following:
Annual sales of the company are in the vicinity of $18,000,000.
Premises at the heading address and branch premises are both leased.
However, further financial information could not be provided.
Enquiries made with trade sources failed to trace any additional
information in relation to the subject.
A Land Titles Search has not been undertaken to ascertain what land, if
any, stands in the subject’s name. This
can be undertaken on request.
CONCLUSION
The subject was incorporated in
Australian Company Number: 005 817 078.
Paid capital $85,000 in 85,000 shares paid to $1 each.
The subject operates as general travel agents.
The company has the trading styles:
Travelrite Balwyn
Travel Bound Balwyn
Suppliers contacted have reported amounts up to $5,000 per month being
met in 13 days and in a prompt manner and is a very good and no problem
account.
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%)