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MIRA
INFORM REPORT
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Report Date : |
19.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
GRANITEK (AUST) PTY LTD |
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Registered Office : |
3,
1955 Young St SYDNEY, NSW 2000 |
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Country : |
Australia |
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Date of Incorporation : |
28.08.1995 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Import and Distribution of Limestone, Granite and Marble Products. |
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
GRANITEK (AUST) PTY LTD
ACN: 070 886 832
ABN: 62 070 886 832
CORPORATE SEARCH
INCORPORATED 28
August 1995
REGISTERED ADDRESS 3, 1955 Young St
SYDNEY, NSW 2000
SHARECAPITAL $12
SHAREHOLDERS SAIRUS
GEMS P/L Holds
3 shares
RADIANT EXPORTS P/L Holds 3
shares
KYRIAKOULEAS, Kyri Holds 3
shares
KOUTSAPLIS, Peter Holds
3 shares
DIRECTORS RANGOONWALA,
Sairus Jigar
Resident
overseas
RANGOONWALA, Jigar Sattar
Resident overseas
MIRZA, Najeebali Yusufali
Resident overseas
KYRIAKOULEAS, Erica
56 Ludgate St
ROSELANDS, NSW 2196
KYRIAKOULEAS, Louie
18 Avocet St
DONCASTER EAST, VIC
3109
KYRIAKOULEAS,
Jourdain Andre
6 Lupin St
BLACKBURN NORTH, VIC
3130
KOUTSAPLIS, Peter
6 Lupin St
BLACKBURN NORTH, VIC
3130
SECRETARY KOUTSAPLIS,
Peter
6 Lupin St
BLACKBURN NORTH, VIC
3130
REGISTERED CHARGES Registered Charge
Number : 514700
Date Registered : 09.11.1995
Status : Fixed
and floating
Creditor : National
Australia Bank
BUSINESS STRUCTURE
TRADING ADDRESS 22 Lionel Rd
MOUNT WAVERLEY, VIC 3149
TELEPHONE (613) 9558 9191
FACSIMILE (613) 9558 9899
BRANCH SILVERWATER,
NSW
BANK NATIONAL
AUSTRALIA BANK
EMPLOYEES 3
full time plus 1 part time
BACKGROUND
The subject was incorporated in Victoria on
28 August 1995 to commence operations under the current style as a new venture.
OPERATIONS
The subject operates in the import and
distribution of limestone, granite and marble products.
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, Peter Koutsaplis, he confirmed the subjects search and operational
details, however declined to release any information pertaining to the
subject’s financial position.
Mr Koutsaplis advised that the subject has
recently downsized operations which have seen a decline in staff numbers from 8
to 4. As a result a decline in revenue and profit results are forecast for the
current financial year.
The
subject maintains a financing
facility with the National Australia Bank, which is secured by a registered
charge over certain fixed and floating assets of the company.
In
regards to asset backing, the subject is noted to own the premises located at
the above listed trading address. A property search can be conducted at your
request to confirm ownership.
TRADE SURVEY
During the current investigation, it was advised that the subject imports all requirements. Only one supplier was subsequently provided for a reference.
A trade survey on the subject traced the following accounts:
(UTI) Nominated supplier declined to provide a reference owing to company policy.
SUMMARY
The subject was incorporated in Victoria on
28 August 1995 to commence operations under the current style as a new venture.
The subject has recently downsized
operations which will result a decline in revenue and profit results for the
current financial year.
In regards to asset backing, the subject is
noted to own the premises located at the above listed trading address. A
property search can be conducted at your request to confirm ownership.
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%)