MIRA
INFORM REPORT
|
Report Date : |
12th March, 2007 |
IDENTIFICATION
DETAILS
|
Name : |
SAY SECURITY PTY LTD |
|
|
|
|
Registered Office : |
Unit 26, 10 Gladstone Road, Castle Hill, NSW 2154 |
|
|
|
|
Country : |
Australia |
|
|
|
|
Date of Incorporation : |
26.08.2005 |
|
|
|
|
Com. Reg. No.: |
115 964 513 |
|
|
|
|
Legal Form : |
Australian Proprietary Company, Limited By Shares |
|
|
|
|
Line of Business : |
The
subject is a wholesaler of: Digital Video
Recorders: In-Vehicle
Digital Video Recorders, Cameras, Speed Domes, Keyboard Controllers,
Car-Reversing Sensors/Cameras |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
REGISTERED NAME: |
SAY SECURITY PTY
LTD |
|
|
|
|
AUSTRALIAN
COMPANY NUMBER: |
115 964 513 |
|
|
|
|
AUSTRALIAN
BUSINESS NUMBER: |
64 115 964 513 |
|
|
|
|
OPERATING
ADDRESS: |
Unit 26, 10 Gladstone Road, CASTLE HILL, NSW
2154 |
|
|
|
|
REGISTERED
ADDRESS: |
Unit 26, 10 Gladstone Road, CASTLE HILL, NSW
2154 |
|
|
|
|
OTHER TRADING
NAMES: |
Nil |
|
|
|
|
TELEPHONE
NUMBER: |
(02) 8850 1588 |
|
|
|
|
WEB SITE
ADDRESS: |
www.saysecurity.net |
|
|
|
|
DATE OF
INCORPORATION: |
26 August 2005 – Incorporated in New South Wales. |
|
|
|
|
CHANGE OF NAME: |
Nil |
|
|
|
|
PAID CAPITAL: |
$10 in $1 shares. |
|
|
|
|
DIRECTOR: |
SHANE RICHARD
AINSWORTH 10 Trelawney Street, THORNLEIGH, NSW 2120 |
|
|
|
|
SHAREHOLDERS: |
Refer HISTORY |
|
|
|
|
SECRETARY: |
Not shown |
|
|
|
|
AUDITORS: |
Not shown |
|
|
|
|
REGISTERED
CHARGES: |
Nil |
|
|
|
|
PAYMENTS: |
Refer TRADING |
|
|
|
|
LEGAL ACTIONS /
DEFAULTS: |
Nil |
|
|
|
|
EMPLOYEES: |
The number of employees have been declined |
PARENT COMPANY
NIL
ACTIVITIES
The subject is a wholesaler of:
Digital Video
Recorders:
-PC Based Systems
-Embedded Systems
In-Vehicle Digital
Video Recorders
Cameras
Speed Domes
Keyboard Controllers
Car-Reversing
Sensors/Cameras
Operations are conducted from premises situated at the
heading address.
The number of employees have been declined.
HISTORY
The subject was incorporated in New South Wales on 26 August 2005 as Say Security Pty Ltd, being an
Australian Proprietary Company, Limited By Shares.
Australian Company Number: 115 964 513.
Paid capital $10 in 10 shares paid to $1 each.
Shares are held by:
TERENCE WILLIAM AINSWORTH 5
SHANE RICHARD AINSWORTH 5
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.
Details pertaining to the company history and antecedent information on
the directors have been declined.
DIRECTOR
SHANE RICHARD
AINSWORTH was born on 29 January 1972 and was appointed to the board of directors
on 26 August 2005. He is fully active in the day to day operations of the
company.
BANK
Details pertaining to the subject’s banking facilities have been
declined.
TRADING
Trade references in relation to the subject have been declined.
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 there are no inquiries in relation
to finance applications:
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 Shane R Ainsworth, Director, in March
2007. At this time he declined all information in relation to the subject’s activities,
trading and financial position, stating that if the name of the enquirer is
made known consideration would be given to providing the relevant details.
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 New South
Wales on 26 August 2005 as Say Security
Pty Ltd, being an Australian Proprietary Company, Limited By Shares.
Paid capital $10 in 10 shares paid to $1
each.
The subject is a wholesaler of:
Digital Video Recorders:
-PC Based Systems
-Embedded Systems
In-Vehicle Digital Video Recorders
Cameras
Speed Domes
Keyboard Controllers
Car-Reversing Sensors/Cameras
All details in
relation to the company have been declined. If dealing with the subject on a
credit basis, caution would be recommended until further details are obtained
or the account is proven.
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)