MIRA
INFORM REPORT
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Report Date : |
20.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
KHS PACIFIC PTY LTD |
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Formerly Known As : |
H & K PACIFIC P/L |
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Registered Office : |
1 Freight Rd Tullamarine, VIC 3043 |
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Country : |
Australia |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
08.03.1988 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Construction and Installation of Packaging Equipment for the Food, Beverage and Pharmaceutical Industries. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
REGISTERED NAME
KHS PACIFIC PTY LTD
ACN: 006 933 204
ABN: 65 006 933 204
INCORPORATED
8 March 1988
REGISTERED ADDRESS
1 Freight Rd
TULLAMARINE, VIC 3043
SHARECAPITAL
$200,000
SHAREHOLDERS
KHS AG Holds 200,000
DIRECTORS
GEMMEL,
Maternus
Resident
overseas
REISGEN,
Valentin
Resident
overseas
PETER
SKYUM, Jakobsen
Resident
overseas
HOFMANN,
Kurt Alfred
5 Kenway St
SUNBURY,
VIC 3429
TILL,
Volker
Resident overseas
SECRETARY
Not shown
REGISTERED CHARGES
Not determined
BUSINESS STRUCTURE
TRADING ADDRESS 1 -3 Freight Rd
TULLAMARINE, VIC 3043
TELEPHONE (613) 9335 1211
FACSIMILE (613) 9335 1331
HOLDING ENTITY KHS AG
BANK Not determined
EMPLOYEES 18
BACKGROUND
The subject was incorporated in Victoria on 8 March 1988 as H & K Pacific P/L, changing name to Talat P/L, before adopting the current style on 6 December 1990.
The subject was established in 1988 as H & K Pacific, a wholly owned subsidiary of KHS Germany, an amalgamation of Holstein and Kappert and Seitz Enzinger Noll under their parent Klneckner - Werke AG.
OPERATIONS
The subject operates in the construction and installation of packaging equipment for the food, beverage and pharmaceutical industries.
Activities are conducted from premises located at the above listed trading address.
ADVERSE
A search of the of Credit Advantage Limited on failed to trace any litigation listed against the subject at that date.
FINANCES
During the current investigation, contact with the subject’s principals was unable to be established. Despite numerous messages being left, no reply has been received.
From the subjects most recently lodged financial statements, it is noted that for the financial year ended 31 December 2006 the subject recorded revenue of $21,665,176, which resulted in an operating profit before tax of $1,899,742 and an operating profit after tax of $1,329,819 representing a Net Profit Margin of 6.14%.
Below is a summary of the subject’s income results for the past two financial years.
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KHS Pacific Pty Ltd |
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As at 31 December 2006 |
As at 31 December 2005 |
Change (%) |
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Revenue |
$21,665,176 |
$25,449,145 |
-14.87% |
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Profit b/tax |
$1,899,742 |
$1,130,093 |
68.10% |
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Profit a/tax |
$1,329,819 |
$517,485 |
156.98% |
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Net Profit Margin |
6.14% |
2.03% |
4.10% |
During fiscal 2006, the subject recorded a deficiency in Net Cashflows from operating activities totalling $12,937.
As at 31 December 2006, the subject recorded total current assets of $9,645,657. They included cash of $4,734,726, receivables of $2,162,616 and inventories of $2,748,313.
Current liabilities at the same date totalled $9,195,343 and included payables of $4,742,344 and deferred revenue of $3,197,297.
As at 31 December 2006, the subject recorded Working Capital of $450,314 and a current ratio of 1.05 to 1.
Net Assets totalled $1,932,559 as at 31 December 2006. At this date, the subject further recorded a Debt to Equity ratio of 4.76 to 1.
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KHS Pacific Pty Ltd |
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As at 31 December 2006 |
As at 31 December 2005 |
Change (%) |
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Revenue |
$21,665,176 |
$25,449,145 |
-14.87% |
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Profit b/tax |
$1,899,742 |
$1,130,093 |
68.10% |
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Profit a/tax |
$1,329,819 |
$517,485 |
156.98% |
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Net Profit Margin |
6.14% |
2.03% |
4.10% |
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Current Assets |
$9,645,657 |
$6,107,994 |
57.92% |
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Non Current Assets |
$1,482,245 |
$1,048,491 |
41.37% |
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Total Assets |
$11,127,902 |
$7,156,485 |
55.49% |
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Current Liabilities |
$9,195,343 |
$5,725,302 |
60.61% |
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Non Current Liabilities |
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Total Liabilities |
$9,195,343 |
$5,725,302 |
60.61% |
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Net Assets |
$1,932,559 |
$1,431,183 |
35.03% |
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Working Capital |
$450,314 |
$382,692 |
17.67% |
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Current Ratio |
1.05 |
1.07 |
-1.68% |
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Debt to Equity |
4.76 |
4.00 |
18.94% |
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 con
SUMMARY
The subject was incorporated in Victoria on 8 March 1988 as H & K Pacific P/L, changing name to Talat P/L, before adopting the current style on 6 December 1990.
The subject was established in 1988 as H & K Pacific, a wholly owned subsidiary of KHS Germany.
for the financial year ended 31 December 2006 the subject recorded revenue of $21,665,176, which resulted in an operating profit before tax of $1,899,742 and an operating profit after tax of $1,329,819 representing a Net Profit Margin of 6.14%.
During fiscal 2006, the subject recorded a deficiency in Net Cashflows from operating activities totalling $12,937.
As at 31 December 2006, the subject recorded Working Capital of $450,314 and a current ratio of 1.05 to 1.
Net Assets totalled $1,932,559 as at 31 December 2006.
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%)