MIRA INFORM REPORT

 

 

Report Date :

31.01.2011

 

IDENTIFICATION DETAILS

 

Name :

GATE HEALTHCARE PTY LTD

 

 

Registered Office :

Hta Advisory Pty Ltd, Suite 16, 828 High Street, Kew East Vic 3102

 

 

Country :

Australia

 

 

Date of Incorporation :

26.09.2007

 

 

Legal Form :

Proprietary Company

 

 

Line of Business :

import and distribution of Surgical Products

 

 

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      

 

GATE HEALTHCARE PTY LTD

ACN: 127 725 348

ABN: 67 127 725 348

 

     

CORPORATE SEARCH

 

Incorporation State: VIC

 

Incorporation Date: 26 SEP 2007

 

Registered Office

HTA ADVISORY PTY LTD

SUITE 16,

828 HIGH STREET,

KEW EAST

VIC 3102

 

Current Directors Total: 2

 

BRETT TELFORD - Appointed: 01 MAY 2009

1/87 WESTBURY Street ST KILDA EAST, Victoria

DOB: 25 JUL 1977

 

GAVIN RAYMOND CARSON - Appointed: 01 MAY 2009

33 TURNER Street ABBOTSFORD, Victoria 3067

DOB: 21 MAR 1970

 

Current Secretaries Total: 1

 

GAVIN RAYMOND CARSON - Appointed: 01 MAY 2009

 

Share Structure - Classes Total: 1

 

ORD SHARES - 200

 

Share capital

$200

 

 

Shareholders Total: 2

 

ORD 100 - VERITY CARSON

ORD 100 - MELANIE TELFORD

 

BUSINESS STRUCTURE

 

TRADING ADDRESS     45 Church St

                                    ABBOTSFORD, VIC 3067                                  

 

TELEPHONE                 (613) 9413 5555

 

BANK                           WESTPAC BANKING CORPORATION

                                               

EMPLOYEES                6         

 

 

BACKGROUND

 

The subject was incorporated in Victoria on 26 September 20 to commence operations under the current style as a new venture.

 

 

OPERATIONS

 

The subject operates in the import and distribution of surgical products specialising in differentiated, high-impact products in the Gynaecology, General and Plastic surgery specialties.

 

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

 

 

ADVERSE

                                               

A search of 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 the subjects Financial Controller he advised that for the last financial year ended 30 June 2010 the subject traded profitably and recorded revenue of $2,400,000.

 

On a projected basis revenue is expected to reach $5,600,000 for the current financial year ending 30 June 2011.

 

Current assets include stock on hand of $400,000 and receivables of $600,000.

 

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

 

Current liabilities include creditors of $500,000.

 

Further details pertaining to the subject’s financial position were unable to be obtained for the current enquiry.

 

 

TRADE SURVEY

 

The subject is noted to import most requirements. A trade survey on the subject traced the following accounts:

 

1.         Nominated supplier declined to provide a reference owing to company policy.

 

2.         Nominated supplier failed to respond to correspondence despite chasing.

 

 

SUMMARY

 

The subject was incorporated in Victoria on 26 September 20 to commence operations under the current style as a new venture.

 

For the last financial year ended 30 June 2010 the subject traded profitably and recorded revenue of $2,400,000.

 

On a projected basis revenue is expected to reach $5,600,000 for the current financial year ending 30 June 2011.

 

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

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.74

UK Pound

1

Rs.72.73

Euro

1

Rs.62.73

 

 

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

 

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.