MIRA INFORM REPORT
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Report Date : |
17.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
SUPREME POLYMER TECHNOLOGIES PTY. LIMITED |
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Registered Office : |
1, 5 View St,
Paddington, Qld 4064 |
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Country : |
Australia |
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Date of Incorporation : |
17.02.1999 |
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Legal Form : |
Propriety Limited |
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Line of Business : |
Import and distribution of polyurethane raw
materials for water proofing and protective coating applications. |
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 : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
REGISTERED NAME
SUPREME POLYMER
TECHNOLOGIES PTY. LIMITED
ACN:
086 322 965
ABN:
55 086 322 965
CORPORATE SEARCH
INCORPORATED 17
February 1999
REGISTERED ADDRESS 1, 5 View St
PADDINGTON,
QLD 4064
SHARECAPITAL $2
SHAREHOLDERS DU TOIT, Johannes Petrus Holds 2 shares
DIRECTORS DU TOIT, Johannes
Petrus
1,
5 View St
PADDINGTON,
QLD 4064
Date of Birth :
20.09.1970
Date
Appointed : 17.02.1999
SECRETARY DU TOIT, Johannes
Petrus
1, 5 View St
PADDINGTON,
QLD 4064
REG’D CHARGES Registered Charge Number : 764575
Date Registered : 31.08.2000
Status : Fixed and floating
Creditor : GE Finance Australia
BUSINESS STRUCTURE
TRADING ADDRESS 27 Gladstine St
PADDDINGTON,
QLD 4064
MOBILE 0407 705 922
BANK BANK OF QUEENSLAND
Branch:
Ashgrove, QLD 4060
EMPLOYEES 1 (active Director)
BACKGROUND
The subject was incorporated in Queensland on 17 February 1999 as Poly Coat Polurethane Systems P/L, adopting the current style on 23 October 2002.
The subject was
established as a new venture in 1999.
OPERATIONS
The subject operates
in the import and distribution of polyurethane raw materials for water proofing
and protective coating applications.
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 Du Toit (Johannes Petrus Du Toit), he advised that for the last financial year ended 30 June 2008, the subject traded profitably and recorded revenue of $400,000.
Current assets
include stock on hand of $40,000 to $50,000 and trade debtors of $30,000.
The subjects
operate no overdraft facilities as all operations are funded through the
internal cashflows of the company.
In regards to
current liabilities, creditors are advised to presently maintain a nil balance.
Enquiries in trade quarters revealed satisfaction from one supplier contacted in dealing with the subject on a credit basis.
TRADE SURVEY
The subject is noted to import all requirements. A trade survey on the subject traced the following accounts:
(Global Freight) Purchases average $2,000 to
$5,000 per month on 30 day terms. Payment is met in 30 days and the account is
considered satisfactory, having been known over 7 years.
SUMMARY
The subject was
incorporated in Queensland on 17 February 1999 as Poly Coat Polurethane Systems
P/L, adopting the current style on 23 October 2002.
The subject was
established as a new venture in 1999.
For the last financial year ended 30 June 2008, the subject traded
profitably and recorded revenue of $400,000.
The subjects operate no
overdraft facilities as all operations are funded through the internal
cashflows of the company.
Enquiries in trade
quarters revealed satisfaction from one supplier contacted in dealing with the
subject on a credit basis.
The information contained in this report is
strictly confidential and has been compiled to assist in making a commercial
credit decision. Whilst every care has been taken in compiling this report,
Complete Corporate Reporting Pty Ltd shall not be liable for any claim, loss,
injury or damage suffered by the recording of incorrect, incomplete, inaccurate
or out of date information. This report should not be
used as the sole basis for a business decision.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.68 |
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UK Pound |
1 |
Rs.74.64 |
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Euro |
1 |
Rs.62.58 |
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%)