MIRA
INFORM REPORT
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Report Date : |
23.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
AUSTRALIS WOOL PTY LTD |
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Registered Office : |
17 River Road, Riverbank, QLD 4301 |
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Country : |
Australia |
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Date of Incorporation : |
17 June 2004 |
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Legal Form : |
Proprietary Company, Limited By Shares |
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Line of Business : |
Wool exporters. |
RATING &
COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
Undetermined |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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REGISTERED NAME: |
AUSTRALIS WOOL
PTY LTD |
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AUSTRALIAN
COMPANY NUMBER: |
109 574 718 |
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AUSTRALIAN
BUSINESS NUMBER: |
30 109 574 718 |
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OPERATING
ADDRESS: |
17 River Road, RIVERBANK, QLD
4301 9 Ganton Place, ALBANY CREEK,
QLD 4035 |
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REGISTERED
ADDRESS: |
17 River Road, RIVERBANK, QLD
4301 |
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OTHER TRADING
NAMES: |
Nil |
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TELEPHONE
NUMBER: |
(07) 3264 7270 |
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DATE OF
INCORPORATION: |
17 June 2004 – Incorporated in Queensland |
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CHANGE OF NAME: |
Nil |
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PAID CAPITAL: |
$2 in $1 shares. |
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DIRECTORS: |
DUNCAN KEITH
DAVIS 9 Ganton Place, ALBANY CREEK, QLD 4035 PETER BRYAN 11 Applegum Place, MOUNT RIVERVIEW, NSW 2774 |
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SHAREHOLDERS: |
Refer HISTORY |
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SECRETARY: |
KAREN DAVIS |
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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 been declined. |
PARENT COMPANY
NIL
ACTIVITIES
The subject operates as wool exporters.
Full details pertaining to the nature of the subject’s operations have
been declined.
Operations are conducted from premises situated at the heading address.
The number of employees have been declined.
HISTORY
The subject was incorporated in Queensland on 17 June 2004 as Australis Wool Pty Ltd, being an
Australian Proprietary Company, Limited By Shares.
Australian Company Number: 109 574 718.
Paid capital $2 in 2 shares paid to $1 each.
Shares are held by:
PETER BRYAN 1
DUNCAN KEITH DAVIS 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.
Details pertaining to the company history and antecedent information on
the directors have been declined.
DIRECTORS
DUNCAN KEITH DAVIS
was
born on 2 November 1959 and was appointed to the board of directors on 21 June
2004. He is fully active in the day to day operations of the company.
PETER BRYAN was born on 20
December 1953 and was appointed to the board of directors on 21 June 2004.
Company Secretary, KAREN DAVIS,
was appointed to her position on 21 June 2004. She is also active in company
operations.
BANK
NATIONAL AUSTRALIA BANK LIMITED
SYDNEY, NSW 2000
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 the following inquiries in relation
to finance applications:
On 25 May 2005 to Power Loans for Real Estate Mortgage.
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 Ms Karen Davis, Company Secretary, in
March 2007. At this time she 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 Queensland on 17 June 2004 as Australis Wool Pty Ltd, being an
Australian Proprietary Company, Limited By Shares.
Paid capital $2 in 2 shares paid to $1 each.
The subject operates as wool exporters.
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
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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%)