MIRA
INFORM REPORT
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Report Date : |
16.10.2007 |
IDENTIFICATION DETAILS
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Name : |
AUSTCOLD REFRIGERATION PTY LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
1 May 1980 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Operates in the design, manufacture, supply and commission purpose
built equipment skids for process
refrigeration and gas compression
applications for the international process, energy, oil, gas and
petrochemical markets. |
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 : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
REGISTERED NAME
AUSTCOLD REFRIGERATION PTY LTD
ACN
001 890 688
ABN
77 001 890 688
INCORPORATED
1 May 1980
REGISTERED ADDRESS
GLENDENNING, NSW 2761
SHARECAPITAL
$30,300
SHAREHOLDERS
CONWAY, Kevin John Holds
21,816 shares
POLLE, Hans Hendrik Holds
3,600 shares
POLLE, Kay Holds
1,800 shares
GRIGG, Laraine Holds 18
shares
DIRECTORS
BUIS, John Arie
55 Avenue Rd
MOSMAN, NSW 2088
POLLE, Hans Hendrik
CONWAY, Kevin John
TURRAMURRA, NSW 2074
SECRETARY
HTOON-PAY, Jane
REGISTERED CHARGES
None on record
BUSINESS STRUCTURE
TRADING ADDRESS
GLENDENNING, NSW 2761
TELEPHONE (612)
9677 2100
FACSIMILE (612)
9677 2199
BANK
NATIONAL AUSTRALIA BANK
EMPLOYEES
20
BACKGROUND
The subject was incorporated in
Operations were established as a new venture in 1972.
OPERATIONS
The subject operates in the design, manufacture, supply and commission
purpose built equipment skids for process
refrigeration and gas
compression applications for the international process, energy, oil, gas
and petrochemical markets.
Activities are conducted from premises located at the above listed
trading address.
ADVERSE
A search of the of Credit Advantage Limited on 8 October 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 interview conducted with Company Secretary, Jane
Htoon-Pay, she confirmed the subjects search and operational details, however
declined to provide any financial information as a matter of strict company
policy.
Subsequently details in this regard were unable to be obtained during
the current investigation.
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:
(Applied Filters) Purchases average $5,000 to $10,000 per month on 30
day terms. Payment is met in 30 days and the account is considered
satisfactory, having been known for 10 years.
(Cedray) Nominated supplier failed to respond to correspondence despite
chasing.
(Toshiba International) Nominated supplier failed to respond to
correspondence despite chasing.
SUMMARY
The subject was incorporated in
Operations were established as a new venture in 1972.
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.
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%)