MIRA INFORM REPORT

 

 

Report Date :

20.01.2011

 

IDENTIFICATION DETAILS

 

Correct Name :

ABT DISTRIBUTION PTY LTD

 

 

Formerly Known As :

AMI Computer Services (Qld)

 

 

Registered Office :

12 Long Street, Kuraby Qld 4112

 

 

Country :

Australia

 

 

Date of Incorporation :

12.05.1998

 

 

Legal Form :

Proprietary Company

 

 

Line of Business :

import and wholesale distribution of computer components and equipment including Motherboards, Graphic Cards, Wireless Network, Large Screen Display Monitor, LCD Monitor, Plasma Display etc

 

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 :

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      

 

ABT DISTRIBUTION PTY LTD

ACN: 082 597 868

ABN: 59 082 597 868

 

 

CORPORATE SEARCH

 

Incorporation State: QLD

 

Incorporation Date: 12 MAY 1998

 

Registered Office

12 LONG STREET,

KURABY

QLD 4112

 

Main Business Location

State: Queensland

Postcode: 4073

 

Current Directors Total: 1

 

PATRICK YU-HUAI HSU- Appointed: 31 MAY 1999

12 JAMES Place SINNAMON PARK, Queensland

DOB: 05 APR 1975

 

Current Secretaries Total: 1

PATRICK YU-HUAI HSU

 

Shares Issued

2

 

Share Capital

$2

 

 

BUSINESS STRUCTURE

 

TRADING ADDRESS     Unit 6, 128 Compton Rd

                                    UNDERWOOD, QLD 4119                                 

 

TELEPHONE                 (617) 3808 9255

 

TRADING STYLE           ABT COMPUTERS

BRANCHES                  LIDCOMBE, NSW

 

BANK                           NATIONAL AUSTRALIA BANK

                                               

EMPLOYEES                6         

 

 

BACKGROUND

 

The subject was incorporated in Queensland on 12 May 1998 as Momo Corporation P/L changing name on 4 February 1999 to AMI Computer Services (Qld) before adopting the current style on 3 January 2006.

 

The subject commenced in Brisbane 1998 as a specialist distributor of memory and IT related products. Since that time, it has established its position in the Australian I.T. marketplace as a very reliable and reputable computer components wholesaler.

 

In December 2005 ABT Distribution Pty Ltd acquired the business of AMI Computer Services.

 

 

OPERATIONS

 

The subject operates in the import and wholesale distribution of computer components and equipment including Motherboards, Graphic Cards, Wireless Network, Large Screen Display Monitor, LCD Monitor, Plasma Display etc.

 

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

 

 

ADVERSE

                                               

A search of the 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 Patrick Hsu he advised that for the last financial year ended 30 June 2010 the subject recorded revenue of $3,500,000 resulting in a before tax operating profit margin of 12%.

 

Improved results are forecast for the current financial year with year to date sales already totalling $2,500,000.

 

Current assets include stock on hand of $360,000 and receivables of $260,000.

 

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

 

Current liabilities include creditors of $350,000.

 

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 from one supplier that some chasing is required and the account is considered slow.

 

 

TRADE SURVEY

 

The subject imports all requirements. A trade survey on the subject traced the following accounts:

 

1.       (Pacific Network) Purchases average $5,000 to $7,000 on 48 hour disbursement and 30 day final terms. Payment for both accounts is received in 40 days and the account is considered slow and requires chasing.

 

 

SUMMARY

 

The subject was incorporated in Queensland on 12 May 1998 as Momo Corporation P/L changing name on 4 February 1999 to AMI Computer Services (Qld) before adopting the current style on 3 January 2006.

 

The subject commenced in Brisbane 1998 as a specialist distributor of memory and IT related products. Since that time, it has established its position in the Australian I.T. marketplace as a very reliable and reputable computer components wholesaler.

 

For the last financial year ended 30 June 2010 the subject recorded revenue of $3,500,000 resulting in a before tax operating profit margin of 12%.

 

Improved results are forecast for the current financial year with year to date sales already totalling $2,500,000.

 

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 from one supplier that some chasing is required and the account is considered slow.

 

           


 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.38

UK Pound

1

Rs.72.71

Euro

1

Rs.61.15

 

 

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

 

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.