MIRA
INFORM REPORT
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Report Date : |
12.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
ORTHOTECH PTY LTD
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Registered Office : |
19, 144 Edward St Brisbane, QLD 4000 |
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Country : |
Australia |
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Date of Incorporation : |
13.08.1993 |
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Legal Form : |
Private Limited |
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Line of Business : |
Import and distribution of high quality Orthotics to Podiatrists |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
REGISTERED NAME
ORTHOTECH PTY LTD
ACN: 061 229 507
ABN: 56 463 004
155
CORPORATE SEARCH
INCORPORATED 13
Aug 1993
REGISTERED ADDRESS 19,
144 Edward St
BRISBANE,
QLD 4000
SHARECAPITAL $1
SHAREHOLDERS SCOTT-YOUNG,
Donna Maree Holds 1 share
SCOTT-YOUNG,
Samuel Joseph Holds 1 share
DIRECTORS SCOTT-YOUNG, Samuel Joseph
1
Sutherland Ave
ASCOT,
QLD 4007
SECRETARY SCOTT-YOUNG,
Samuel Joseph
1
Sutherland Ave
ASCOT,
QLD 4007
REGISTERED
CHARGES Registered Charge Number :
1266455
Date
Registered : 09.02.2006
Status : Fixed
Creditor : Esanda
Finance
Registered
Charge Number : 1170988
Date
Registered : 15.06.2005
Status : Fixed
Creditor : Esanda
Finance
Registered
Charge Number : 1014632
Date
Registered : 19.01.2004
Status : Fixed
Creditor : Esanda
Finance
Registered
Charge Number : 988373
Date
Registered : 24.101.2003
Status : Fixed
Creditor : Westpac
Bank
Registered
Charge Number : 970336
Date
Registered : 15.06.2005
Status : Fixed
Creditor : Esanda
Finance
Registered
Charge Number : 956793
Date
Registered : 04.07.2003
Status : Fixed
and floating
Creditor : Esanda
Finance
Registered
Charge Number : 950412
Date
Registered : 10.06.2003
Status : Fixed
Creditor : Esanda
Finance
Registered
Charge Number : 896493
Date
Registered : 14.10.2002
Status : Fixed
Creditor : Esanda
Finance
Registered
Charge Number : 870220
Date
Registered : 18.06.2002
Status : Fixed
Creditor : Esanda
Finance
Registered
Charge Number : 869081
Date
Registered : 14.06.2002
Status : Fixed
Creditor : Esanda
Finance
Registered
Charge Number : 861345
Date
Registered : 09.05.2002
Status : Fixed
Creditor : Esanda
Finance
Registered
Charge Number : 850870
Date
Registered : 12.03.2002
Status : Fixed
Creditor : Esanda
Finance
Registered
Charge Number : 850865
Date
Registered : 12.03.2002
Status : Fixed
Creditor : Esanda
Finance
Registered
Charge Number : 698756
Date
Registered : 08.06.1999
Status : Fixed
and floating
Creditor : National
Australia Bank
Registered
Charge Number : 441084
Date
Registered : 31.05.1994
Status : Fixed
and floating
Creditor : National
Australia Bank
BUSINESS STRUCTURE
TRADING ADDRESS 51 Sandgate Rd
ALBION,
QLD 4010
TELEPHONE (617) 3262 5033
FACSIMILE 617)
3262 5099
BRANCHES LANE
COVE, NSW
NEWCASTLE,
NSW
WEMBLEY,
WA
BANK NATIONAL
AUSTRALIA BANK
EMPLOYEES 60
BACKGROUND
The subject was incorporated in Queensland on 13 August 1993 as Firestar
P/L, before adopting the current style on22 April 1994.
Operations were established
as a new venture in 1993.
OPERATIONS
The subject operates in the import and distribution of high quality Orthotics
to Podiatrists in Australia, UK, Ireland, New Zealand and South East Asia.
Activities are conducted from premises located at the above listed
trading address.
ADVERSE
A search of the failed to trace any litigation listed against the subject
at that date.
FINANCES
The subject is not required to lodge financial statements with the
Australian Securities and Investments Commission.
During the current interview conducted with the subjects Financial
Controller, she advised that for the last financial year ended 30 June 2007,
the subject traded profitably and recorded revenue of $23,000,000 to
$24,000,000.
The subject maintains a financing facility with the National
Australia Bank, which is secured by a registered charge over certain fixed and
floating assets of the company.
Further details
pertaining to the subject’s financial position were unable to be obtained for
the current enquiry.
Enquiries in trade quarters revealed satisfaction from suppliers
contacted in dealing with the subject on a credit basis.
TRADE SURVEY
A trade survey on the subject traced the following accounts:
1. Purchases are
of an undisclosed amount per month on 30 day terms. Payment is met in 30 days
and the account is considered satisfactory, having been known over 6 years.
2. Nominated
supplier failed to respond to correspondence despite chasing.
SUMMARY
The subject was incorporated in Queensland on 13 August 1993 as Firestar
P/L, before adopting the current style on22 April 1994.
Operations were established
as a new venture in 1993.
For the last financial year ended 30 June 2007, the subject traded
profitably and recorded revenue of $23,000,000 to $24,000,000.
Enquiries in trade quarters revealed satisfaction from suppliers contacted
in dealing with the subject on a credit basis.
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. |
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%)