MIRA
INFORM REPORT
|
Report Date : |
10.07.2008 |
IDENTIFICATION
DETAILS
|
Name : |
STANDARD COMMODITIES AUSTRALIA PTY LTD |
|
|
|
|
Registered Office : |
1/290 VICTORIA
Street DARLINGHURST, New South Wales 2010 |
|
|
|
|
Country : |
Australia |
|
|
|
|
Date of Incorporation : |
15.05.1989 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
International Merchants of animal by products including fats
and oils, meat and bone meal, poultry by products meal, feather meal, fish
meal and blood meal. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
REGISTERED NAME
STANDARD COMMODITIES AUSTRALIA PTY LTD
ACN: 003 775 102
ABN: 87 003 775 102
CORPORATE SEARCH
Incorporation
Date: 15 May 1989
Incorporation
State: New South Wales
Registered Office 1/290 VICTORIA
Street
DARLINGHURST,
New South Wales 2010 Australia
Number of Shares
Issued: 10
Paid Capital: $10
Shareholders MICHAEL FREDRICK
BETAR
Number of Shares: 9
CRAIG STEPHEN HITCHINGS
Number of Shares: 1
Directors BETAR, MICHAEL
FREDRICK
Appointment Date: 16 May 1989
Date of Birth: 28 Dec 1961
Gender: Male
Address: 89 GLENMORE Road PADDINGTON, New South Wales 2021 Australia
Resident Overseas: No
Veda Advantage File Number: 14089661
Secretary MICHAEL FREDRICK
BETAR
Appointment
Date: 26 Nov 1990
BUSINESS STRUCTURE
TRADING ADDRESS Level
1, 274 to 290 Victoria St DARLINGHRST, NSW 2010
TELEPHONE (612) 9339 8460
FACSIMILE (612)
9339 8499
BANK HSBC
BANK AUSTRALIA
EMPLOYEES 4
full time plus 2 part time
BACKGROUND
The subject was incorporated in New South Wales on15 May 1989, before
adopting the current style on 18 January 1990.
Operations were established as a new venture in 1989.
OPERATIONS
The subject operates as international merchants of animal by products
including fats and oils, meat and bone meal, poultry by products meal, feather
meal, fish meal and blood meal.
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 Manager, he advised that for the last financial year ended 30 June 2008, the subject traded profitably and recorded revenue of between $30,000,000 and $50,000,000.
Further details pertaining to the subject’s financial position were unable to be obtained for the current enquiry.
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:
- (Pridhams 03 9368 5666) Purchases average $30,000 to $50,000 per month on 30 day terms. Payment is met in 30 to 35 days and the account is considered satisfactory, having been known since 1 February 2006.
- (Pridhams 03 5562 7775) Purchases average $50,000 to $100,000 per month on 30 day terms. Payment is met in 30 5 days and the account is considered satisfactory, having been known over 5 years.
SUMMARY
The subject was incorporated in New South Wales on15 May 1989, before
adopting the current style on 18 January 1990.
Operations were established as a new venture in 1989.
For the last financial year ended 30 June 2008, the subject traded
profitably and recorded revenue of between $30,000,000 and $50,000,000.
Enquiries in trade quarters revealed satisfaction from suppliers
contacted in dealing with the subject on a credit basis.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.42.72 |
|
UK Pound |
1 |
Rs.84.42 |
|
Euro |
1 |
Rs.67.38 |
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)