MIRA
INFORM REPORT
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Report Date : |
28.05.2007 |
IDENTIFICATION DETAILS
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Name : |
LEES TECHNOLOGY LIMITED |
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Registered Office : |
Level 2, Lees Tech House, |
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Country : |
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Date of Incorporation : |
6 June 1972 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacturer / supplier of equipment for the power
generation, transmission & distribution industry. |
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: |
LEES TECHNOLOGY
LIMITED |
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REGISTERED
NUMBER: |
84303 |
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OPERATING
ADDRESS: |
Level 2, Lees Tech House, BEACHHAVEN |
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REGISTERED
ADDRESS: |
C/- Marley Loft Ltd, Level 6, 130 Broadway, |
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OTHER TRADING
NAMES: |
Nil |
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TELEPHONE
NUMBER: |
(09) 482 1093 |
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WEB SITE
ADDRESS: |
www.leestech.com |
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DATE OF
INCORPORATION: |
6 June 1972 – Incorporated in |
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CHANGE OF NAME: |
13 June 2002 - To present name. |
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PAID CAPITAL: |
$10,000 in $1 shares. |
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DIRECTORS: |
SOMPORN
IAMPHANIT BEACHHAVEN, PETER MARTIN
LEES BEACHHAVEN, |
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SHAREHOLDERS: |
Refer HISTORY |
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SECRETARY: |
Not shown |
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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 is a manufacturer/supplier of equipment for the power generation, transmission & distribution industry.
The subject is a
Products include Transformers, Switchgear, Protection, Motors, Power Factor
Correction, Industrial and Commercial Controls and Panel Components.
LEES TECH
Access Controls are designed and manufactured in NZ, to NZ Industry Standards,
and are generally a direct replacement for older controls of the same type.
LEES TECH
Digi-Code radio remote controls can be used to retrofit controllers when
original remotes are no longer available.
Operations are conducted from premises situated at the heading address.
The company does not have any branches.
HISTORY
The subject was incorporated in
Registered Number: 84303.
Paid capital $10,000 in 10,000 shares paid to $1 each.
Shares are held by:
PETER MARTIN LEES 7,001
SOMPORN IAMPHANIT 2,999
The above information is in accordance with the last Annual Return
lodged with the New Zealand Companies Office on 19 March 2007 and compiled at
report date.
Operations of the company were commenced in 1972.
DIRECTORS
SOMPORN IAMPHANIT was appointed to
the board of directors on 13 March 1991.
PETER MARTIN LEES was appointed to
the board of directors on 16 June 2002. 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.
REGISTERED CHARGES
There are no Registered Charges existing over the subject’s assets.
The ‘Personal Property Securities Act 1999’ (PPSA) came into effect on 1
May 2002.
The PPSA has brought together registered charges that were historically
created under several different Acts, e.g. debentures registered pursuant to
the Companies Act and charges over specific assets registered pursuant to the
Chattels Transfer Act 1924.
Charges registered are called Security Interests.
The PPSA is also used by suppliers to register a charge over goods which
have been supplied to the subject in respect of which the supplier terms of
trade may previously have contained a “reservation of title” clause.
Charges over land are not registered under the PPSA and there may be
charges over land in the name of the subject.
There is one
Security Interest registered over goods – other and/or goods – motor vehicles.
RECORDED ACTIONS
Nothing of an adverse nature has been recorded against the subject.
INVESTIGATION
An interview was conducted with Mr Peter M Lees, Director, in May 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
Paid capital $10,000 in 10,000 shares paid to $1 each.
The subject is a manufacturer/supplier of equipment for the power
generation, transmission & distribution industry.
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. However, the subject would appear to be an
established company, 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%)