MIRA
INFORM REPORT
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Report Date : |
12.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
JW CLEMENTS & ASSOCIATES PTY LTD |
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Registered Office : |
24, 201 Elizabeth St Sydney, NSW 2000 |
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Country : |
Australia |
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Date of Incorporation : |
26.02.1992 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Import and Wholesale of Diamonds |
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
JW CLEMENTS & ASSOCIATES PTY LTD
ACN
055 281 126
ABN
24 055 281 126
INCORPORATED
26 February 1992
REGISTERED ADDRESS
24, 201 Elizabeth St
SYDNEY, NSW 2000
SHARECAPITAL
$12
SHAREHOLDERS
CLEMENTS, John William Holds 11 shares
FEDEL, Aldo Holds 1 share
DIRECTORS
FEDEL, Aldo
1, 8A Wylde St
POTTS POINT, NSW 2011
CLEMENTS, John William
8, 9 Mosman St
MOSMAN, NSW 2088
SECRETARY
FEDEL, Aldo
1, 8A Wylde St
POTTS POINT, NSW 2011
REGISTERED CHARGES
Registered Charge Number : 352754
Date Registered : 17.08.1992
Status : Fixed and floating
Creditor : ANZ Banking Group
BUSINESS STRUCTURE
TRADING ADDRESS Suite 604, 155 King St
SYDNEY, NSW 2000
TELEPHONE (612) 9232 1366
BANK ANZ BANKING GROUP
Cnr Pitt & Hunter St’s, Sydney, NSW 2000
EMPLOYEES 5 (including Directors)
BACKGROUND
The subject was incorporated in New South Wales on 26 February 1992 under the current style.
The subject was formed to restructure the assets and operations of an existing business.
Operations have been established for 30 years.
OPERATIONS
The subject operates in the import and wholesale of diamonds.
Activities are conducted from premises located at the above listed trading address.
ADVERSE
A search of the of Credit Advantage Limited 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 $3,000,000.
The subject maintains
a financing facility with the ANZ Bank, which is secured by a registered charge
over certain fixed and floating assets of the company.
In regards to asset backing, the subject is noted to own the premises located at the above listed trading address. A property search can be conducted at your request to confirm ownership.
Further details pertaining to the subject’s financial position were unable to be obtained for the current enquiry.
TRADE SURVEY
During the current investigation, it was advised that the subject imports most requirements. A trade survey on the subject traced the following accounts:
Nominated supplier failed to respond to correspondence despite chasing.
SUMMARY
The subject was incorporated in New South Wales on 26 February 1992 under the current style.
Operations have been established for 30 years.
For the last financial year ended 30 June 2007, the subject traded profitably and recorded revenue of $3,000,000.
In regards to asset backing, the subject is noted to own the premises located at the above listed trading address. A property search can be conducted at your request to confirm ownership.
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%)