MIRA INFORM REPORT

 

 

Report Date :

05.04.2011

 

IDENTIFICATION DETAILS

 

Name :

ACTIVE FABRICATIONS (QLD) PTY LTD

 

 

Registered Office :

1/54 Bryant Road Loganholme, Queensland 4129

 

 

Country :

Australia

 

 

Date of Incorporation :

28.06.1995

 

 

Legal Form :

Proprietary Limited Company 

 

 

Line of Business :

Manufacture and supplier of trailers spare parts and accessories including couplings, springs and fittings, axles, hubs & braking, jockey wheels etc.

 

 

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 :

Usually Correct

 

 

Litigation :

Clear

 

NOTES :

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – December 31, 2010

 

Country Name

Previous Rating

(30.09.2010)

Current Rating

(31.12.2010)

Australia

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

                         

REGISTERED NAME      

 

ACTIVE FABRICATIONS (QLD) PTY LTD

ACN: 070 084 874

ABN: 54 070 084 874

 

 

CORPORATE SEARCH

 

Incorporation Date:                     28 Jun 1995

 

Incorporation State:                    Queensland

 

Registered Office                       1/54 BRYANT Road

                                                LOGANHOLME, Queensland 4129 Australia

 

Charges                                    Date Registered: 28 Aug 1996

Chargee Name: 010 831 722 SUNCORP-METWAY LIM

Charge Type: Fixed charge

ASIC Charge No: 555297

 

Number of Shares Issued:           2

 

Paid Capital:                              2

 

Shareholders                             DIGGA HOLDINGS PTY. LTD.

                                                Number of Shares: 2

 

Directors                                   DOSSETT, ANDREA MAREE

Appointment Date: 30 Nov 1998

Date of Birth: 30 Dec 1950

Gender: Female

Address: 20 JACOBS RIDGE Road ORMEAU, Queensland 4208 Australia

Resident Overseas: No

 

DOSSETT, BRIAN PAUL

Appointment Date: 28 Jun 1995

Date of Birth: 17 Jan 1948

Gender: Male

Address: 20 JACOBS RIDGE Road ORMEAU, Queensland 4208 Australia

Resident Overseas: No

 

Secretary                                  BRIAN PAUL DOSSETT

                                                Appointment Date: 28 Jun 1995

 

BUSINESS STRUCTURE

 

TRADING ADDRESS                 63 to 65 Logan River Rd

                                                BEENLEIGH, QLD 4207

 

TELEPHONE                             (617) 3807 6666

 

FACSIMILE                               (617) 3807 6909

 

ASSOCIATED ENTITY               DIGGA IMPORTS P/L

 

HOLDING ENTITY                      DIGGA HOLDINGS P/L

 

BANK                                       Not determined 

                                               

EMPLOYEES                            17

           

 

BACKGROUND

 

The subject was incorporated in Queensland on 28 June 1995 under the current style.

 

Operation shave been established for 20 years.

          

OPERATIONS

 

The subject operates in the manufacture and supplier of trailers spare parts and accessories including:

 

couplings

springs and fittings

axles

hubs & braking

jockey wheels

lights, wiring and plugs

boat trailer accessories

rims and tyres, and

caravan and camping accessories.

 

Activities are conducted from premises located at the above listed trading address.

 

 

ADVERSE

                                               

A search of on 30 March 2011 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 Brian Dossett, he advised that for the last financial year ended 30 June 2010 the subject traded profitably and recorded revenue of $14,000,000. A similar result was achieved for the previous corresponding year ended 30 June 2009.

 

The subject is on track to record a 20% growth in operations for the current financial year ending 30 June 2011.

 

The subject maintains no overdraft facilities as all operations are funded through the internal cashflows of the company.

 

The group and the subjects Directors are advised to maintain substantial asset backing, owing a total of 34 factory and stores.

 

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:

 

(Manutech) Nominated supplier is yet to respond to correspondence.

 

(Industrial Springs) Purchases average $20,000 per month on 30 day terms. Payment is met in 30 to 35 days and the account is considered satisfactory, having been known over 5 years.

 

(Onesteel) Nominated supplier declined to provide a reference owing to company policy.

 

 

sUMMARY

 

The subject was incorporated in Queensland on 28 June 1995 under the current style.

Operation shave been established for 20 years.

                       

For the last financial year ended 30 June 2010 the subject traded profitably and recorded revenue of $14,000,000.

The subject is on track to record a 20% growth in operations for the current financial year ending 30 June 2011.

The subject maintains no overdraft facilities as all operations are funded through the internal cashflows of the company.

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.44.65

UK Pound

1

Rs.71.93

Euro

1

Rs.63.24

 

 

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

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

--

NB

                                       New Business

 

--

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.