MIRA
INFORM REPORT
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Report Date : |
19.01.2011 |
IDENTIFICATION DETAILS
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Name : |
F. S. GLENNON & CO PTY LTD |
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Registered Office : |
Unit 2, |
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Country : |
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Date of Incorporation : |
28.07.1959 |
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Legal Form : |
Proprietary Limited Company |
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Line of Business : |
Import and distribution of ceramic wall and floor tiles. |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
REGISTERED NAME
F. S. GLENNON
& CO PTY LTD
ACN:
ABN:
CORPORATE SEARCH
Incorporation Date: 28 JUL 1959
Status: Registered
Registered Office UNIT 2,
NSW 2015
INDUSTRY CLASSIFICATIONS (ANZSIC 2006)
Division: WHOLESALE TRADE (F)
Sub Division: Basic Material Wholesaling (33)
Group: Timber and Hardware Goods Wholesaling (333)
Main Business Location
State:
Postcode: 2015
Director
VERONICA ELIZABETH GLENNON– Appointed: 23 JUN 1984
DOB: 02 OCT 1945
NOEL ANTHONY GLENNON – Appointed: 10 AUG 1966
DOB: 07 NOV 1943
Company Secretary
NOEL ANTHONY GLENNON – Appointed: 29 JUN 1984
ORDINARY SHARES
2000
Share capital
$4,000
Shareholders
GLENNON NOEL ANTHONY ASTRUSTEE FOR GLENNON
HOLDINGS PTY LIMITED Holds
1 share
GLENNON HOLDINGS PTY LTD Holds
1999
BUSINESS STRUCTURE
TRADING ADDRESS Unit
2,
POSTAL ADDRESS
TELEPHONE (612)
9698 2799
FACSIMILE (612)
9698 5697
HOLDING ENTITY GLENNON
HOLDINGS P/L
TRADING STYLE GLENNON
TILES
BANK Not
determined
EMPLOYEES Not
determined
BACKGROUND
The subject was incorporated in
The subject was started by Mr Frank Glennon
in 1948. The initial business was
indenting ceramic tiles and other building materials. Following the lifting of import licensing on
ceramic tiles in the late 1950’s the decision was taken to start importing and
merchandising ceramic wall and floor tiles for residential, commercial and
industrial projects.
Since the 1950’s Glennon’s has expanded
considerably, and now has premises located in
OPERATIONS
The subject operates in the import and distribution of ceramic wall and
floor tiles.
Activities are conducted from premises located at the above listed
trading address.
ADVERSE
A search of the of Baycorp Advantage Limited failed totrace 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 all queries pertaining to the subjects were
forwarded to Director Noel Glennon. Contact with Mr Glennon was unable to be
established for the current enquiry. It was advised that he is still on annual
leave and will not return until 24 January 2011.
As a result, details pertaining to the subjects operating, trading and
financial position were unable to be obtained for the current enquiry.
Please note, we will attempt to contact Mr Glennon upon his return next
week. Upon receiving further information this report will be updated and
forwarded to your office.
TRADE SURVEY
During the current investigation, contact with the subject’s principals
was unable to be established.
Subsequently details pertaining to the company’s suppliers were unable
to be obtained and a trade survey could not be conducted.
SUMMARY
The subject was incorporated in
The subject was started by Mr Frank Glennon
in 1948.
Details pertaining to the subjects operating, trading and financial
position were unable to be obtained for the current enquiry.
Please note we will attempt to contact Mr Glennon
upon his return next week. Upon receiving further information this report will
be updated and forwarded to your office.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.53 |
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1 |
Rs.72.56 |
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Euro |
1 |
Rs.60.62 |
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 |
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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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.