MIRA
INFORM REPORT
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Report Date : |
30.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
TUTHILL AUSTRALIA PTY LTD |
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Registered Office : |
128 Canterbury Rd, Kilsyth, Vic 3137 |
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Country : |
Australia |
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Date of Incorporation : |
21 June 1988 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of pneumatic blowers vacuum pumps, including gas applications and a complete range of blowers vacuum pumps. |
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 : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
REGISTERED NAME
TUTHILL AUSTRALIA PTY LTD
ACN
007 007 285
ABN
54 007 007 285
INCORPORATED
21 June 1988
REGISTERED ADDRESS
128 Canterbury Rd
KILSYTH, VIC 3137
SHARECAPITAL
$677,002
SHAREHOLDERS
TUTHILL CORPORATION
Holds 677,001
DIRECTORS
AHLBORN,
James William
Resident
overseas
YEXLEY,
Roger Alfred
19
Brentwood Pl
FRENCHS
FOREST, NSW 2086
TUTHILL,
James Gates
Resident overseas
SECRETARY
YEXLEY,
Roger Alfred
19
Brentwood Pl
FRENCHS
FOREST, NSW 2086
REGISTERED CHARGES
None on record
BUSINESS STRUCTURE
TRADING ADDRESS
19, 128 Canterbury Rd
KILSYTH, VIC 3137
TELEPHONE (613) 9720 6533
FACSIMILE (613) 9720 6880
HOLDING ENTITY
TUTHILL CORPORATION
BANK
NATIONAL AUSTRALIA BANK
EMPLOYEES
25
BACKGROUND
The subject was incorporated in Victoria on 21 June 1988 as Intreege P/L, before adopting the current style.
OPERATIONS
The subject operates in the manufacturer of pneumatic blowers vacuum pumps, including gas applications and a complete range of blowers vacuum pumps.
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 the subjects Financial Controller, he advised that for the last financial year ended 31 December 2006, the subject traded profitably and recorded revenue of $8,500,000.
Further details pertaining to the subject’s financial position were unable to be obtained for the current enquiry.
The Holding entity, Tuthill Corporation is a private company based in the USA. For the year ended 31 December 2005. It recorded consolidated revenue of USD 413 million. At this time the group employed 1,913 staff.
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:
Purchases range between $1,000 and $5,000 per month on 30 day terms. Payment is met in 30 days and the account is considered satisfactory, having been known over 15 years.
Purchases are of an undisclosed amount per month on 30 day terms. Payment is met in 30 days having been known over 10 years.
SUMMARY
The subject was incorporated in Victoria on 21 June 1988 as Intreege P/L, before adopting the current style.
For the last financial year ended 31 December 2006, the subject traded profitably and recorded revenue of $8,500,000.
The Holding entity, Tuthill Corporation is a private company based in the USA. For the year ended 31 December 2005. It recorded consolidated revenue of USD 413 million.
Enquiries in trade quarters revealed satisfaction from suppliers contacted in dealing with the subject on a credit basis.
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%)