MIRA
INFORM REPORT
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Report Date : |
08.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
GULMOHAR PTY LTD |
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Registered Office : |
14, 1 Ricketts Rd, Mount
Waverley, VIC 3149 |
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Country : |
Australia |
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Date of Incorporation : |
6 January 1998 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Distribution and import of agricultural chemicals, feed and food additives, polyester film and dental equipment. |
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
GULMOHAR PTY LTD
ACN
081 195 459
ABN
97 081 195 459
INCORPORATED
6 January 1998
REGISTERED ADDRESS
14, 1 Ricketts Rd
MOUNT WAVERLEY, VIC 3149
SHARECAPITAL
$1
SHAREHOLDERS
PALACIMO P/L Holds
1 share
DIRECTORS
HEYN, Peter Carl
71 Albert
St
MOUNT WAVERLEY, VIC
3149
SECRETARY
HEYN, Peter Carl
71 Albert
St
MOUNT WAVERLEY, VIC
3149
REGISTERED CHARGES
Registered Charge Number : 782190
Date Registered : 09.01.2001
Status : Fixed
and floating
Creditor : ANZ
Banking Group
BUSINESS STRUCTURE
TRADING ADDRESS
14, 1 Ricketts Rd
MOUNT WAVERLEY, VIC 3149
TELEPHONE (613) 9544 6980
FACSIMILE (613) 9544 6946
BANK
ANZ BANKING GROUP
EMPLOYEES
5
BACKGROUND
The subject was incorporated in Victoria on 6 January 1998 to commence operations under the current style as a new venture.
OPERATIONS
The subject operates in the distribution and import of agricultural chemicals, feed and food additives, polyester film and dental equipment.
Activities are conducted from premises located at the above listed trading address.
ADVERSE
A search of the 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 Director Peter Heyn he advised that for the last financial year ended 30 June 2007, the subject recorded a loss on revenue of $5,000,000.
The loss was attributable to drought conditions and the effect on sales.
On a projected basis, the subject expects to generate a profit result on improved sales for the current financial year ending 30 0June 2008.
Current assets include stock on hand valued at $500,000.
The subject maintains an overdraft facility with the ANZ Bank is used to assist in funding Working capital requirements.
TRADE SURVEY
A trade survey on the subject traced the following accounts:
Nominated supplier
declined to provide a reference owing to company policy.
Nominated supplier
failed to respond to correspondence despite chasing.
SUMMARY
The subject was incorporated in Victoria on 6 January 1998 to commence operations under the current style as a new venture.
For the last financial year ended 30 June 2007, the subject recorded a loss on revenue of $5,000,000.
On a projected basis, the subject expects to generate a profit result on improved sales for the current financial year ending 30 0June 2008.
The subject maintains an overdraft facility with the ANZ Bank is used to assist in funding Working capital requirements.
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%)