MIRA
INFORM REPORT
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Report Date : |
04.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
SIGNATURE ORTHOPAEDICS PTY LTD |
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Formerly Known As : |
Azure Design Australia P/L |
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Registered Office : |
1B/69 Waterloo Road North Ryde, New South Wales 2113 |
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Country : |
Australia |
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Date of Incorporation : |
16.10.2003 |
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Legal Form : |
Propriety Limited |
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Line of Business : |
Design and Development of Orthopaedic 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 : |
Moderate |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
REGISTERED NAME
SIGNATURE
ORTHOPAEDICS PTY LTD
ACN: 106 702 416
ABN: 41 106 702
416
CORPORATE SEARCH
Incorporation Date: 16
Oct 2003
Incorporation State: New
South Wales
Registered Office 1B/69
WATERLOO Road
NORTH
RYDE, New South Wales 2113 Australia
Number of Shares Issued: 100
Paid Capital: 100
Shareholders DECLAN
BRAZIL
Number
of Shares: 100
Directors BRAZIL, DECLAN
Appointment
Date: 16 Oct 2003
Date
of Birth: 21 Oct 1972
Gender:
Male
Address:
241/4 BECHERT Road CHISWICK, New South Wales 2046 Australia
Resident
Overseas: No
Secretary DECLAN BRAZIL
Appointment
Date: 16 Oct 2003
BUSINESS STRUCTURE
TRADING ADDRESS Suite
1B, 69 Waterloo Rd
NORTH
RYDE, NSW 2113
TELEPHONE (612)
9889 4663
FACSIMILE (612)
8456 6065
BANK Not
determined
EMPLOYEES 5
BACKGROUND
The subject was incorporated in New South Wales on 16 October 2003 as
Azure Design Australia P/L, before adopting the current style on 28 November
2007.
OPERATIONS
The subject operates in the design and development of orthopaedic
products.
The subject also conducts contract manufacturing of orthopaedic products
for companies including Smith & Nephew.
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 investigation, contact with Director, Declan Brazil
was unable to be established. It was advised that he is presently overseas and
could not be contacted for the current enquiry.
During the current interview conducted with the subjects Manager, he
confirmed the subjects search and operational details, however declined to
provide any financial information.
Subsequently details in this regard were unable to be obtained during
the current investigation
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:
(Gary Orton – 9666 9581) Purchases average $30,000 per month on 30 day
terms. Payment is met in 30 days and the account is considered satisfactory,
having been known over 2 years.
SUMMARY
The subject was incorporated in New South Wales on 16 October 2003 as
Azure Design Australia P/L, before adopting the current style on 28 November
2007.
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.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.96 |
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UK Pound |
1 |
Rs.80.26 |
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Euro |
1 |
Rs.63.08 |
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%)