MIRA INFORM REPORT

 

 

Report Date :           

27.04.2011

 

IDENTIFICATION DETAILS

 

Name :

AVANTI IMPORTS PTY LTD

 

 

Registered Office :

7 Atchison Street, Wollongong, Nsw 2500

 

 

Country :

Australia

 

 

Date of Incorporation :

27.02.2002

 

 

Legal Form :

Proprietary Company

 

 

Line of Business :

import and distribution of fitness and gym equipment

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Unknown

 

 

Litigation :

Exists

 

 

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      

 

AVANTI IMPORTS PTY LTD

ACN: 099 733 936

ABN: 90 099 733 936

                                                                                                                                   

     

CORPORATE SEARCH

 

Incorporation State: NSW

 

Incorporation Date: 27 FEB 2002

 

Registered Office

7 ATCHISON STREET,

WOLLONGONG

NSW 2500

 

Registered Charges: 1

AUSTRALIA AND NEW ZEALAND BANKING GROUPLIMITED (005357522)

Both Fixed & Floating

2071723

Registered 29 OCT 2010

 

Current Directors Total: 2

 

MARK GARRAHY – Appointed: 27 FEB 2002

2 REDFERN Place GYMEA, New South Wales 2227

DOB: 13 DEC 1972

 

DARREN PIGGINS– Appointed:  27 FEB 2002

15 JUVENIS Avenue OYSTER BAY, New South Wales

DOB: 23 FEB 1971

 

Current Secretaries Total: 2

MARK GARRAHY – Appointed: 27 FEB 2002 

DARREN PIGGINS – Appointed: 27 FEB 2002

 

Share Structure - Classes Total: 1

ORD ORDINARY: 1 – Amount paid: $1

 

 

Shareholders Total: 1

 

ORD 1 - WALO BOKA PTY LTD

 

BUSINESS STRUCTURE

 

TRADING ADDRESS     11 to 15 Harley Cres

                                    CONDELL PARK, NSW 2200                            

 

TELEPHONE                 (612) 9708 6322

                                    (612) 9782 1200 (Frank Maurice)

 

HOLDING ENTITY          WALO BOKA PTY LTD

 

BRANCH                       ESSENDON, VIC

 

ASSOCIATED ENTITY   AVANTI IMPORTS NZ LTD        

BANK                                      

                                               

EMPLOYEES                70        

 

 

BACKGROUND

 

The subject was incorporated in New South Wales on 27 February 2002 to commence operations under the current style as a new venture.

 

 

OPERATIONS

 

The subject operates in the import and distribution of fitness and gym equipment.

 

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

 

 

ADVERSE

                                               

A search of traced the following litigation listed against the subject at that date.

 

Payment Default

Account Number            : 215412025

Account Type                : Telecommunications

Member                        : Vodafone

Date                             : 07.08.2007

Amount                         : $151

Reason                         : Payment default

Assoc Code                  : Company’s Account

 

Court Actions

Date                             : 25.05.2006

Creditors name              : Rossfreight (Sydney) Pty Limited

Amount                         : $3640

Plaintiff No.                    : 1789/05/2PRR

Association Code           : Companys Account

Court Code                    : Local Court Judgement

 

 

FINANCES

 

The subject is not required to lodge financial statements with the Australian Securities and Investments Commission.

 

During the current interview conducted with the subjects Financial Controller Frank Mayrice he confirmed the subjects search and operational details before advising that he was in a meeting and would our office back when he was available.

 

Despite chasing and messages being left, a reply from Mr Maurice is yet to be received.

 

As a result, details pertaining to the subjects trading and financial position were unable to be obtained.

 

The subject maintains a financing facility with the ANZ Bank, which is secured by a registered charge over certain fixed and floating assets of the company.

 

 

TRADE SURVEY

 

Details pertaining to the subjects suppliers were not provided for the current enquiry.

 

A trade survey on the subject was subsequently unable to be conducted.

 

 

SUMMARY

 

The subject was incorporated in New South Wales on 27 February 2002 to commence operations under the current style as a new venture.

 

Details pertaining to the subjects trading and financial position were unable to be obtained.

 

The subject maintains a financing facility with the ANZ Bank, which is secured by a registered charge over certain fixed and floating assets of the company.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.59

UK Pound

1

Rs.73.44

Euro

1

Rs.64.81

 

 

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.