MIRA
INFORM REPORT
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Report Date : |
17.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
FOX & LILLIE PTY LTD |
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Registered Office : |
4/166 Albert Road, South Melbourne, VIC 3205 |
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Country : |
Australia |
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Date of Incorporation : |
5 July 1961 |
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Legal Form : |
Proprietary Company, Limited By Shares |
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Line of Business : |
Wool procurers, brokers, processors, and exporters, sourcing wool from all over Australia and the world, and distributing wool in its various forms to customers in countries spanning the length and breadth of the globe. |
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 : |
Undetermined |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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REGISTERED NAME: |
FOX & LILLIE
PTY LTD |
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AUSTRALIAN
COMPANY NUMBER: |
004 521 144 |
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AUSTRALIAN
BUSINESS NUMBER: |
99 004 521 144 |
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OPERATING ADDRESS: |
4/166 Albert Road, SOUTH MELBOURNE,
VIC 3205 |
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REGISTERED
ADDRESS: |
4/166 Albert Road, SOUTH MELBOURNE,
VIC 3205 |
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OTHER TRADING
NAMES: |
Melbourne Wool Company |
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TELEPHONE
NUMBER: |
(03) 9696 1544 |
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WEB SITE
ADDRESS: |
www.foxandlillie.com.au |
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DATE OF
INCORPORATION: |
5 July 1961 – Incorporated in Victoria. |
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CHANGE OF NAME: |
30 September 1998 - To present name. |
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PAID CAPITAL: |
$43,792 in $2 shares. |
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DIRECTORS: |
JONATHAN ANDREW
LILLIE 22 Surrey Road, SOUTH YARRA, VIC 3141 JAMES HARRISON
LILLIE 72 Elizabeth Street, MALVERN, VIC 3144 |
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SHAREHOLDERS: |
Refer HISTORY |
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SECRETARY: |
JAMES HARRISON
LILLIE |
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AUDITORS: |
Not shown |
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REGISTERED
CHARGES: |
Refer REGISTERED CHARGES |
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PAYMENTS: |
Refer TRADING |
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LEGAL ACTIONS /
DEFAULTS: |
Refer RECORDED ACTIONS |
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EMPLOYEES: |
The number of employees have not been ascertained. |
PARENT COMPANY
FOX & LILLIE HOLDINGS PTY LTD
ACTIVITIES
The Fox and Lillie Group are Australian based wool procurers, brokers, processors, and exporters, sourcing wool from all over Australia and the world, and distributing wool in its various forms to customers in countries spanning the length and breadth of the globe.
From their humble beginnings almost sixty years ago, the Fox and Lillie group of companies has steadily expanded and diversified their operations. With annual sales in excess of 17 million kilos per annum, Fox and Lillie is one of the major exporters of wool from Australia today, trading with all major wool consuming countries in the world.
Operations are conducted from premises situated at the heading address.
HISTORY
The subject was incorporated in Victoria on 5 July 1961 as Robin Boyd Pty Ltd, changing name to Winclair Investments Pty Ltd on 19
October 1972, changing name to Fox &
Lillie (Skipton) Pty Ltd on 22 February 1978, changing name to William Murray & Co. Pty Ltd on 24
January 1986 and adopting the present name on 30 September 1998, being an
Australian Proprietary Company, Limited By Shares.
Australian Company Number: 004 521 144.
Paid capital $43,792 in 21,896 shares paid to $2 each.
Shares are held by:
FOX & LILLIE HOLDINGS PTY LTD 21,895
JAMES MOAR LILLIE (AS TRUSTEE) 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.
By virtue of the shareholding the subject is a subsidiary of Fox &
Lillie Holdings Pty Ltd. This company was incorporated in Victoria on 29 June
1964 as Fox & Lillie Proprietary
Limited, subsequently adopting the present name, being an Australian
Proprietary Company, Limited By Shares. Australian Company Number: 004 604 844.
Australian Business Number: 57 004 604 844.
In 1948 two
experienced Melbourne wool industry identities, Rhys Fox and Cyril Lillie,
decided to join forces, and Fox and Lillie was born. In their foundation year
they employed James Lillie senior, as a trainee wool buyer. He is now the
Executive Chairman of the company.
Fox and Lillie
traded successfully and experienced solid growth over the next fifteen years,
until in 1963 Rhys Fox sold his shares to the Lillie family, who still retain
100% ownership to this day.
DIRECTORS
JONATHAN ANDREW
LILLIE was born on 30 January 1961 and was appointed to the board of directors
on 30 September 1998. He is fully active in the day to day operations of the
company.
JAMES HARRISON
LILLIE was born on 21 September 1957 and was appointed to the board of
directors on 3 December 1985. He is also fully active in company operations. He
is the Company Secretary, having been appointed to this position on 3 December
1985.
BANK
NATIONAL AUSTRALIA BANK LIMITED
The bank holds a Registered Charge over company assets. Please refer to
the REGISTERED CHARGE section for
details.
TRADING
Trade references in relation to the subject have not been obtained.
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
The following Registered Charge has been recorded over the subject’s
assets:
On 2 August 1999, Fixed and Floating Charge to National Australia Bank
Limited, ASIC Charge No. 707747.
RECORDED ACTIONS
The following has been recorded against the subject:
Payment Defaults:
ACCOUNT NUMBER: FOX-LILLIE-CYBER1
ACCOUNT TYPE: 30
DAY ACCOUNT
ROLE IN PAYMENT DEFAULT: PRINCIPAL
LATEST CREDIT PROVIDER: CYBERSOURCE
PTY LTD
LATEST DATE: 1
FEBRUARY 2007
LATEST AMOUNT: $2,002
LATEST REASON TO REPORT: PAYMENT
DEFAULT
INVESTIGATION
A number of attempts have been made to contact the Financial Controller
in March 2007, however on each occasion it has been advised he is unavailable
for interview.
Messages have been left requesting he contact this office, however to
date a reply has not been received.
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 Victoria on 5 July 1961 as Robin Boyd Pty Ltd, changing name to Winclair Investments Pty Ltd on 19
October 1972, changing name to Fox &
Lillie (Skipton) Pty Ltd on 22 February 1978, changing name to William Murray & Co. Pty Ltd on 24
January 1986 and adopting the present name on 30 September 1998, being an
Australian Proprietary Company, Limited By Shares.
Paid capital $43,792 in 21,896 shares paid to $2 each.
The Fox and Lillie Group are Australian based wool procurers, brokers, processors, and exporters, sourcing wool from all over Australia and the world, and distributing wool in its various forms to customers in countries spanning the length and breadth of the globe.
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 subject would appear to be a very well established 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%)