MIRA
INFORM REPORT
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Report Date : |
11.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
AUSTCOLD REFRIGERATION PTY LTD |
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Formerly Known : |
NERATON P/L |
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Registered Office : |
1 Rayben St Glendenning, NSW 2761 |
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Country : |
Australia |
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Date of Incorporation : |
01.05.1980 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
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
1 Rayben St
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
74 Broadwater Dr
SARATOGA, NSW 2551
CONWAY, Kevin John
46 Warrangi St
TURRAMURRA, NSW 2074
SECRETARY
HTOON-PAY, Jane
REGISTERED CHARGES
None on record
BUSINESS STRUCTURE
TRADING ADDRESS 1 Rayben St
GLENDENNING, NSW 2761
TELEPHONE (612) 9677 2100
FACSIMILE (612) 9677 2199
BANK NATIONAL AUSTRALIA BANK
EMPLOYEES 20
BACKGROUND
The subject was incorporated in New South Wales on 1 May 1980 as Neraton P/L, changing name to Howden Equipment Services P/L, changing name to Howden Refrigeration Systems P/L, before adopting the current style on 28 November 1989.
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 3 February 2008 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 advised that for the last financial year ended 30 June 2007, the subject traded profitably and recorded revenue of $10,000,000.
The subject carries only small quantities of stock on hand as most requirements are ordered to contract specifications. Stock is presently valued at $120,000.
The subject maintains no overdraft facilities as all operations are funded through the cashflows of the company.
Enquiries in trade quarters revealed satisfaction from one supplier 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 New South Wales on 1 May 1980 as Neraton P/L, changing name to Howden Equipment Services P/L, changing name to Howden Refrigeration Systems P/L, before adopting the current style on 28 November 1989.
Operations were established as a new venture in 1972.
For the last financial year ended 30 June 2007, the subject traded profitably and recorded revenue of $10,000,000.
The subject maintains no overdraft facilities as all operations are funded through the cashflows of the company.
Enquiries in trade quarters revealed satisfaction from suppliers contacted in dealing with the subject on a credit basis.
The information contained in this report is strictly
confidential and has been compiled to assist in making a commercial credit
decision. Whilst every care has been taken in compiling this report, Complete
Corporate Reporting Pty Ltd shall not be liable for any claim, loss, injury or
damage suffered by the recording of incorrect, incomplete, inaccurate or out of
date information. This report should not be used as
the sole basis for a business decision.
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%)