MIRA
INFORM REPORT
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Report Date : |
15.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
TRADEFAIRE INTERNATIONAL PTY LTD |
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Registered Office : |
12/14 Garden Boulevard Dingley Village, Victoria 3172 |
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Country : |
Australia |
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Date of Incorporation : |
10.06. 1992 |
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Legal Form : |
Propriety Limited |
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Line of Business : |
Import Distribution of Tyres |
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
TRADEFAIRE INTERNATIONAL PTY LTD
ACN: 056 385 285
ABN: 36 056 385 285
CORPORATE SEARCH
Incorporation Date: 10
Jun 1992
Incorporation State: Victoria
Registered Office 12/14
GARDEN Boulevard
DINGLEY
VILLAGE, Victoria 3172 Australia
Charges Date Registered: 26 Sep 1996
Chargee
Name: 004 044 937 NATIONAL AUSTRALIA
Charge
Type: Fixed and floating charge
ASIC
Charge No: 559598
Number of Shares Issued: 200
Paid Capital: 200
Shareholders JAMES BERNARD SAUNDERS
Number
of Shares: 110
MSK
NOMINEES PTY. LTD.
Number
of Shares: 45
LAVENDER
BOND PTY. LTD.
Number
of Shares: 45
Directors SAUNDERS, JAMES BERNARD
Appointment
Date: 10 Jun 1992
Date
of Birth: 23 Mar 1960
Gender:
Male
Address:
4 HOLYWOOD Grove CARNEGIE, Victoria 3163 Australia
Resident
Overseas: No
Secretary JAMES BERNARD SAUNDERS
Appointment
Date: 25 Jan 1997
BUSINESS STRUCTURE
TRADING ADDRESS 2,
158 Bambra Rd
CAULFIELD,
VIC 3162
TELEPHONE (613)
9563 6066
FACSIMILE (613)
9563 6733
BANK NATIONAL
AUSTRLAIA BANK
BENDIGO
BANK
EMPLOYEES 5
(including Director)
BACKGROUND
The subject was incorporated in Victoria on 10 June 1992 to commence
operations under the current style as a new venture.
OPERATIONS
The subject operates in the import distribution of tyres. The subject
imports passenger and truck tyres from China, Off-road tyres from Taiwan and
Off-road and industrial tyres from India.
Activities are conducted from premises located at the above listed
trading address.
ADVERSE
A search of the of Credit Advantage Limited traced the following
litigation listed against the subject at that date.
Court Actions
Action Date: 12 Jul 2005
Amount: 11899
Creditor: ORIENT OVERSEAS CONTAINER LINE
Plaint Number: 338/05/2DWN
Court Type: District court
Action Date: 16 Sep 2005
Amount: 14278
Creditor: NYK LINE(AUS) P/L
Plaint Number: 1598925/05/VMEL
Court Type: Magistrates court
Action Date: 07 Sep 2005
Amount: 5120
Creditor: RCL (AUSTRALIA) P/L
Plaint Number: 1848751/05/VMEL
Court Type: Magistrates court
Action Date: 26 Aug 2005
Amount: 13668
Creditor: GLOBE STAR SHIPPING P/L
Plaint Number: 1646110/05/VMEL
Court Type: Magistrates court
Action Date: 14 Apr 2005
Amount: 1664
Creditor: MOTOR TRADES ASSOCIATION QLD
Plaint Number: 1756/05/QBNE
Court Type: Magistrates court
On 16 December 2005, Notification of filing for winding up order was
lodged with ASIC against the subject. This was withdrawn on 1 March 2006.
FINANCES
The subject is not required to lodge financial statements with the
Australian Securities and Investments Commission.
During the current interview conducted with Director James Saunders, he
advised that for the last financial year ended 30 June 2008 the subject
recorded revenue of $16,000,000 which resulted in an operating profit.
Improved revenue results are forecast for the current financial year
ending 30 June 2009.
The subject maintains financing facilities with its bankers which are
used to assist in funding Working Capital requirements.
Further details pertaining to the subjects financial position were not
released 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:
(Ci Global) Purchases average $50,000 per month on 7 and 30 day terms.
Payment is met to terms and the account is considered satisfactory, having been
known over 5 years.
SUMMARY
The subject was incorporated in Victoria on 10 June 1992 to commence
operations under the current style as a new venture.
For the last financial year ended 30 June 2008 the subject recorded
revenue of $16,000,000 which resulted in an operating profit.
Improved revenue results are forecast for the current financial year
ending 30 June 2009.
Enquiries in trade quarters revealed satisfaction from suppliers
contacted in dealing with the subject on a credit basis.
In view of the above and listed adverse findings, the subject has been
assigned with a rating of ‘NA 5’.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.47.82 |
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UK Pound |
1 |
Rs.73.08 |
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Euro |
1 |
Rs.65.56 |
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%)