MIRA INFORM
REPORT
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Report Date : |
20.01.2011 |
IDENTIFICATION DETAILS
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Correct Name : |
T.T.A.S LTD |
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Formerly Known As : |
Totally Toyota Auto
Spares Ltd |
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Registered Office : |
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Country : |
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Date of Incorporation : |
19.02.2003 |
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Legal Form : |
Limited Company |
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Line of Business : |
import and distribution of automotive spare parts
stocking product for a number of major automotive |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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
T.T.A.S LTD
T/AS TARANAKI
PARTSWORLD
CN: 1276681
CORPORATE SEARCH
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Incorporated: |
19 Feb 2003 |
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Current Status: |
Registered |
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Constitution Filed: |
Yes |
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Annual Return Filing Month: |
November |
Registered Office
Address for Service
Directors
RAYNER,
John Barry
Shareholdings
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Total Number of Shares: |
100,000 |
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Extensive Shareholdings: |
No |
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59,900 |
SUPREME
AUTOS LTD |
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40,000 |
DOYLE,
Trent Ryan 7c |
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90 |
RAYNER,
John Barry |
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10 |
RAYNER,
Marie Frances SPECIAL |
SPECIAL NOTE During the current investigation
it was advised that Trent Doyle is also a Director of the subject.
BUSINESS STRUCTURE
TRADING ADDRESS
TELEPHONE (646) 753 4500
FACSIMILE (646) 753 8107
TRADING STYLES TARANAKI PARTSWORLD
HOLDING ENTITY SUPREME AUTOS LTD
BANK Not determined
EMPLOYEES 10
BACKGROUND
The subject was incorporated in
OPERATIONS
The subject operates in the import and distribution of
automotive spare parts stocking product for a number of major automotive brands
including
Activities are conducted from premises located at the above listed trading address.
FINANCES
The subject is not required to lodge financial statements with the New Zealand Companies Office
During the current interview conducted with Director Trent Doyle he advised that for the last financial year ended 31 March 2010 the subject recorded revenue of NZ$1,600,000 and traded profitably.
A slight decline in revenue is forecast for the current financial year ended 31 March 2011. The decline is attributable to the global financial crisis.
The subject maintains no overdraft facilities as all operations are funded through the internal cashflows of the company.
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 one supplier contacted in dealing with the subject on a credit basis.
TRADE SURVEY
A trade survey
on the subject traced the following accounts:
1. (K
Road Auto Spares) Subject operates a medium sized account on 20 day terms.
Payment is met in 20 days and the account is considered satisfactory having
been known for over 10 years.
SUMMARY
The subject was incorporated in
For the last financial year ended 31 March 2010 the subject recorded revenue of NZ$1,600,000 and traded profitably.
A slight decline in revenue is forecast for the current financial year ended 31 March 2011. The decline is attributable to the global financial crisis.
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 one supplier contacted in dealing with the subject on a credit basis.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.38 |
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1 |
Rs.72.71 |
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Euro |
1 |
Rs.61.15 |
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 |
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.