MIRA
INFORM REPORT
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Report Date : |
18.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
ACG WHOLESALE PTY LTD |
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Registered Office : |
253 Johnston Street, Abbotsford, Victoria 3067 |
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Country : |
Australia |
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Date of Incorporation : |
29.05.1989 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Wholesale Distribution of
Wine. |
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
ACG WHOLESALE PTY
LTD
ACN: 113 133 449
ABN: 46 113 133 449
CORPORATE SEARCH
Incorporation
Date: 29 May 1989
Incorporation
State: Victoria
Registered Office 253
JOHNSTON Street
ABBOTSFORD,
Victoria 3067 Australia
Charges Date
Registered: 21 Jul 2006
Chargee Name: 052 214 098 CREDITLINE PTY LTD
Charge Type: Fixed charge
ASIC Charge No: 1328748
Date Registered: 10 Apr 2002
Chargee Name: 007 457 141 WESTPAC BANKING CO
Charge Type: Fixed and floating charge
ASIC Charge No: 855873
Number
of Shares Issued: 2
Paid
Capital: $2
Shareholders HARRIET
MUNRO NELSON
Number
of Shares: 1
Shareholder
Name: ALAN NELSON
Number
of Shares: 1
Directors Director Name: NELSON, ALAN
Appointment Date: 04 Nov 1993
Date of Birth: 14 Feb 1960
Gender: Male
Address: 15 VICTOR Avenue KEW, Victoria 3101 Australia
Resident Overseas: No
Secretary ALAN NELSON
Appointment Date: 04 Nov 1993
BUSINESS STRUCTURE
TRADING ADDRESS Suite 826,
Level 8
1
Queens Rd
MELBOURNE,
VIC 3000
TELEPHONE (613) 9863 7300
FACSIMILE (613) 9863 7801
ASSOCIATED ENTITY AUSTRALIAN CLEANSKIN GROUP P/L
RI
& I P/L
BANK WESTPAC
BANKING CORPORATION
EMPLOYEES 22
BACKGROUND
The subject was incorporated in Victoria on 25 February 2005 under the
current style.
Group operations were founded in September 2003.
OPERATIONS
The subject operates in the wholesale distribution of wine.
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 Director Andrew Iacovangelo,
he advised that for the last financial year ended 30 June 2008, the subject
traded profitably and recorded revenue of $4,500,000.
On a projected basis, revenue is forecast to reach $6,000,000 for the
current financial year ending 30 June 2009.
Current assets include stock on hand of $400,000 and receivables of
$88,000.
The subject maintains an overdraft facility with the Westpac Bank which
is secured by a registered charge and is used to assist in funding Working
capital requirements.
Current liabilities include creditors of $240,000.
Fixed assets include plant and equipment valued at $80,000.
TRADE SURVEY
A TRADE SURVEY ON THE
SUBJECT TRACED THE FOLLOWING ACCOUNTS:
1. Nominated supplier
failed to respond to correspondence despite chasing.
2.
Nominated supplier failed to respond to correspondence despite chasing.
3.
Nominated supplier failed to respond to correspondence despite
chasing.
SUMMARY
The subject was incorporated in Victoria on 25 February 2005 under the
current style.
Group operations were founded in September 2003.
For the last financial year ended 30 June 2008, the subject traded
profitably and recorded revenue of $4,500,000.
On a projected basis, revenue is forecast to reach $6,000,000 for the
current financial year ending 30 June 2009.
Fixed assets include plant and equipment valued at $80,000.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.78 |
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UK Pound |
1 |
Rs.85.51 |
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Euro |
1 |
Rs.67.90 |
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%)