MIRA INFORM REPORT

 

 

Report Date :

18.01.2011

 

IDENTIFICATION DETAILS

 

Name :

EQL INTERNATIONAL MARKETING PTY LTD

 

 

Registered Office :

20/13 Swaffham Road, Minto, New South Wales 2566

 

 

Country :

Australia

 

 

Date of Incorporation :

10.10.2001

 

 

Legal Form :

Proprietary Company

 

 

Line of Business :

Wholesale Supplier of telecommunications and electrical supplies and componentry including Network Products, IP Cameras, Video Baluns, Coaxial Connectors and Cables to the Telecommunications and Security industries

 

 

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 :

No Complaints

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 – June 30, 2010

 

Country Name

Previous Rating

                   (01.04.2010)                  

Current Rating

(30.06.2010)

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      

 

EQL INTERNATIONAL MARKETING PTY LTD

ACN: 098 402 218

ABN: 93 098 402 218

 

 

CORPORATE SEARCH

 

Incorporation Date:                     10 Oct 2001

 

Incorporation State:                   New South Wales

 

Registered Office                       20/13 SWAFFHAM Road

                                                MINTO, New South Wales 2566 Australia

 

Number of Shares Issued:           6

 

Paid Capital:                              6

 

Shareholders                             SONNY MEANG CHOY LEE

Number of Shares: 3

 

EVELYN QUINTO LEE

Number of Shares: 3

 

Directors                                   LEE, EVELYN QUINTO

Appointment Date: 10 Oct 2001

Date of Birth: 08 Jan 1951

Gender: Female

Address: 198 LONGHURST Road MINTO, New South Wales 2566 Australia

Resident Overseas: No

 

LEE, SONNY MEANG

Appointment Date: 10 Oct 2001

Date of Birth: 25 Feb 1946

Gender: Male

Address: 198 LONGHURST Road MINTO, New South Wales 2566 Australia

Resident Overseas: No

 

Secretary                                  SONNY MEANG CHOY LEE

                                                Appointment Date: 10 Oct 2001

 

BUSINESS STRUCTURE

 

TRADING ADDRESS     unit 20, 13 Swaffham Rd

                                    MINTO, NSW 2566

 

TELEPHONE                 (612) 9824 5680

 

MOBILE                        0418 625 268

 

TRADING STYLE           EQL TELECOMMUNICATIONS

 

BANK                           ANZ BANKING GROUP

                                    NATIONAL AUSTRALIA BANK

                                    WESTERN UNION        

                                               

EMPLOYEES                4

 

           

BACKGROUND

 

The subject was incorporated in New South Wales on 10 October 2001under the current style.

 

The subject was formed to restructure the assets and operations of a business that was founded in April 1994.

                                              

                                              

OPERATIONS

 

The subject operates as a wholesale supplier of telecommunications and electrical supplies and componentry including Network Products, IP Cameras, Video Baluns, Coaxial Connectors and Cables to the Telecommunications and Security industries. 

 

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

 

 

ADVERSE

                                               

A search of failed to trace any adverse findings 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 sonny Lee he advised that for the last financial year ended 30 June 2010 the subject traded profitably and recorded revenue of $1,000,000.

 

Improved results are forecast for the current financial year ending 30 June 2011.

 

Current assets include stock on hand of $150,000.

 

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

 

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:

 

1.                   (Maddison Technologies) Purchases average $500 per month on 30 day terms. Payment is met in 30 days and the account is considered satisfactory, having been known since August 2003.

 

2.                   (DHL) Nominated supplier failed to respond to correspondence despite chasing.

 

 

SUMMARY

 

The subject was incorporated in New South Wales on 10 October 2001under the current style.

 

The subject was formed to restructure the assets and operations of a business that was founded in April 1994.

                       

For the last financial year ended 30 June 2010 the subject traded profitably and recorded revenue of $1,000,000.

 

Improved results are forecast for the current financial year ending 30 June 2011.

 

In regards to asset backing, the subject is noted to own the premises located at the above listed trading address.

 

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.45.59

UK Pound

1

Rs.72.31

Euro

1

Rs.60.73

 

 

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

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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%)

 

 

 

 

 

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.