MIRA
INFORM REPORT
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Report Date : |
12th March, 2007 |
IDENTIFICATION
DETAILS
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Name : |
C.R. CROSS NOMINEES PTY LTD |
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Registered Office : |
3 Cord Street, Dudley Park, S.A. 5008
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Country : |
Australia |
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Date of Incorporation : |
20.06.1980 |
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Com. Reg. No.: |
007 927 602 |
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Legal Form : |
Australian Proprietary Company, Limited By Shares |
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Line of Business : |
Engaged in
the importers and distributors of many leading brands in Australia. The
company is the Australian agents for Crompton Greaves electric motors, RXM
electric motors, Pujol Muntala Geared Motors. |
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 |
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REGISTERED NAME: |
C.R. CROSS
NOMINEES PTY LTD Trading as:
Royce Cross Agencies |
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AUSTRALIAN
COMPANY NUMBER: |
007 927 602 |
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AUSTRALIAN BUSINESS
NUMBER: |
Not on data base
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OPERATING
ADDRESS: |
3 Cord Street, DUDLEY PARK,
S.A. 5008 |
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REGISTERED
ADDRESS: |
3 Cord Street, DUDLEY PARK,
S.A. 5008 |
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OTHER TRADING
NAMES: |
Royce Cross Agencies |
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TELEPHONE NUMBER: |
(08) 8269 4000 |
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WEB SITE
ADDRESS: |
www.roycecross.com.au |
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DATE OF
INCORPORATION: |
20 June 1980 – Incorporated in South Australia. |
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CHANGE OF NAME: |
Nil |
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PAID CAPITAL: |
$2 in $1 shares. |
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DIRECTORS: |
COLIN ROYCE
CROSS 43 Eton Street, MALVERN, S.A. 5061 CHRISTINE
MARGARET CROSS 43 Eton Street, MALVERN, S.A. 5061 |
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SHAREHOLDERS: |
Refer HISTORY |
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SECRETARY: |
CHRISTINE
MARGARET CROSS |
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AUDITORS: |
Not shown |
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REGISTERED
CHARGES: |
Nil |
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PAYMENTS: |
Refer TRADING |
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LEGAL ACTIONS /
DEFAULTS: |
Nil |
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EMPLOYEES: |
The number of employees have not been ascertained. |
PARENT COMPANY
NIL
ACTIVITIES
Royce Cross
Agencies are importers and distributors of many leading brands in Australia.
The company is the Australian agents for Crompton Greaves electric motors, RXM
electric motors, Pujol Muntala Geared Motors.
An Australian-owned company established by Managing Director, Royce Cross, in 1973, the business gained a reputation for reliability, customer service and value for money, which soon had Royce Cross Agencies competing alongside the major players in electric motors.
Going from strength to strength in the electric motor market, the subject soon expanded into geared reducers and motor control sectors of which now confirms Royce Cross Agencies as a premier “Total Solutions” company in Australia.
The company
has since changed offices-warehouse for the third time, each time expanding
into a bigger building and on each occasion remaining on the doorstep of the
city.
Located
close to the city of Adelaide at 3 Cord Street, Dudley Park the subject
services nation wide. The company provides “on the shelf” Sales and Service
with large stock holdings of all products. ROYCE CROSS AGENCIES is also
associated with TOSHIBA INTERNATIONAL distributing TOSHIBA power electronics
range.
Operations are conducted from premises situated at the heading address.
HISTORY
The subject was incorporated in South Australia on 20 June 1980 as C.R. Cross Nominees Pty Ltd, being an
Australian Proprietary Company, Limited By Shares.
Australian Company Number: 007 927 602.
Paid capital $2 in 2 shares paid to $1 each.
Shares are held by:
COLIN ROYCE CROSS 1
CHRISTINE MARGARET CROSS 1
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 1973.
Trading style Royce Cross
Agencies, was registered in South Australia on 21 January 1974, with the
subject becoming the proprietor company on 1 July 1980. Operations commenced on
17 February 1974, Registered Number: 0115698X.
DIRECTORS
COLIN ROYCE CROSS was born on 10
December 1939 and was appointed to the board of directors on 24 June 1980. He
is fully active in the day to day operations of the company and has had many
years experience in his field of activity.
CHRISTINE MARGARET
CROSS was born on 6 April 1943 and was appointed to the board of directors on
24 June 1980. She is the Company Secretary, having been appointed to this
position on 1 July 1980.
BANK
Details pertaining to the subject’s banking facilities have not been
ascertained.
TRADING
Trade references in relation to the subject have not been obtained.
As the subject is an importer, the company is not a major seeker of
local commercial credit.
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
Attempts have been made to contact Mr Colin R Cross, Director, in March
2007, however it has been advised he is unavailable for interview.
Messages have been left and should additional information come to hand
this will be sent to you as an addendum to this report.
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 South Australia on 20 June 1980 as C.R. Cross Nominees Pty Ltd, being an
Australian Proprietary Company, Limited By Shares.
Paid capital $2 in 2 shares paid to $1 each.
Royce Cross Agencies are importers and distributors
of many leading brands in Australia. The company is the Australian agents for
Crompton Greaves electric motors, RXM electric motors, Pujol Muntala Geared
Motors.
Full details in
relation to the company have not been ascertained. If dealing with the subject
on a credit basis, caution would be recommended until further details are
obtained or the account is proven. However, the company would appear to be an
established concern, having operated for many years.
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%)