MIRA
INFORM REPORT
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Report Date : |
03.10.2007 |
IDENTIFICATION DETAILS
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Name : |
SOUTHERN CROSS INTERNATIONAL PTY LTD |
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Registered Office : |
70 Southern Blvd, Southbank, VIC 3006 |
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Country : |
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Date of Incorporation : |
21 March 2007 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Believed to operate in the distribution of fertilizers. |
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. |
Small |
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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
REGISTERED NAME
SOUTHERN CROSS INTERNATIONAL PTY LTD
ACN
124 537 980
ABN
63 124 537 980
INCORPORATED
21 March 2007
REGISTERED ADDRESS
70 Southern Blvd
SOUTHBANK, VIC 3006
SHARECAPITAL
$1
SHAREHOLDERS
INCITEC PIVOT LTD Holds 1 share
DIRECTORS
GLEESON,
Kerry Jo-anne
GLEN IRIS,
VIC 3146
FAZZINO,
James Ernest
PLENTY, VIC 3090
SECRETARY
GLEESON,
Kerry Jo-anne
GLEN IRIS,
VIC 3146
REGISTERED CHARGES
None on record
BUSINESS STRUCTURE
TRADING ADDRESS
70 Southern Blvd
SOUTHBANK, VIC 3006
TELEPHONE (613) 8695 4400
FACSIMILE (613) 8695 4419
HOLDING ENTITY
INCITEC PIVOT LTD
BANK
Not determined
EMPLOYEES
Not determined
BACKGROUND
The subject was incorporated in
The subject is wholly owned by Incitec Pivot Ltd, a corporation that was formed through the merger of two of the powerhouses of the Australian fertiliser industry in June 2003.
In August 2006 the group purchased Southern Cross
Fertilisers,
Incitec Pivot Ltd was listed on the Australian Stock Exchange on 28 July 2003.
OPERATIONS
The subject is believed to operate in the distribution of fertilizers.
Activities are conducted from premises located at the above listed trading address.
ADVERSE
A search of the of Credit Advantage Limited on 27 September 2007 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 investigation, contact with the subject or its principals was unable to be established. Despite numerous messages being left, no reply has been received.
As a result, details pertaining to the subjects operating, trading and financial position were unable to be obtained for the current enquiry.
The Holding entity Incitec Pivot Limited is listed on the Australian Stock Exchange.
For the last financial year ended 30 September 2006, the group recorded consolidated revenue of $1,111,239,000 which resulted in an operating profit before tax of $59,257,000 and after tax of $ 46,662,000.
At 30 September 2006, the group recorded total assets of $1,303,202,000 and Net Assets of $379,997,000.
TRADE SURVEY
During the current investigation, contact with the subject’s principals was unable to be established.
Subsequently details pertaining to the company’s suppliers were unable to be obtained and a trade survey could not be conducted.
SUMMARY
The subject was incorporated in
The subject is wholly owned by Incitec Pivot Ltd, a corporation that was formed through the merger of two of the powerhouses of the Australian fertiliser industry in June 2003.
In August 2006 the group purchased Southern Cross
Fertilisers,
During the current investigation, details pertaining to the subjects trading and financial position were unable to be obtained.
For the last financial year ended 30 September 2006, the group recorded consolidated revenue of $1,111,239,000 which resulted in an operating profit before tax of $59,257,000 and after tax of $ 46,662,000.
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%)