MIRA INFORM REPORT

 

 

Report Date :           

12.07.2011

 

IDENTIFICATION DETAILS

 

Name :

QUEENSLAND TOOL & MACHINERY DISTRIBUTORS  PTY LTD

 

 

Formerly Known As :

Stonemere P/L

 

 

Registered Office :

4/52 Davenport Street, Southport, Queensland 4215

 

 

Country :

Australia

 

 

Date of Incorporation :

10.10.1985

 

 

Legal Form :

Proprietary Company

 

 

Line of Business :

import and distribution of hand tools and related machinery

 

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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

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 

 

QUEENSLAND TOOL & MACHINERY DISTRIBUTORS  PTY LTD

ACN: 010 602 687

ABN: 11 010 602 687

 

ADDRESS GIVEN                     21 Keller Cres

                                                CARRARA, QLD 4211

 

 

CORPORATE SEARCH

 

Incorporation Date:                     10 Oct 1985

 

Incorporation State:                    Queensland

 

Registered Office                       4/52 DAVENPORT Street

                                                SOUTHPORT, Queensland 4215 Australia

 

Charges                                    Date Registered: 14 Oct 1997

Chargee Name: 080 413 234 GERBER TRADE FINAN

Charge Type: Fixed and floating charge

ASIC Charge No: 613972

 

Date Registered: 07 Jun 1990

Chargee Name: 057 643 455 J GERBER & COMPANY

Charge Type: Fixed and floating charge

ASIC Charge No: 287250

 

Number of Shares Issued:           1100000

 

Paid Capital:                              1100000

 

Shareholders                             MARSHALL MONTEAGLE PLC

Number of Shares: 550001

 

JOHN JAY FRANICH AND OTHERS

Number of Shares: 549999

 

Directors                                   VACY-LYLE, GRANT

Appointment Date: 16 Jul 2001

Date of Birth: 17 Feb 1960

Gender: Unknown

Address:

Resident Overseas: Yes

 

VACY-LYLE, ALAN CONWAY

Appointment Date: 01 Oct 1986

Date of Birth: 01 May 1956

Gender: Male

Address: 1/12 HANDEL Avenue WORONGARY, Queensland 4213 Australia

Resident Overseas: No

 

Secretary                                  ALAN CONWAY VACY-LYLE

                                                Appointment Date: 17 May 1989

 

                                                                       

BUSINESS STRUCTURE

 

TRADING ADDRESS     21 Keller Cres

                                    SOUTHPORT, QLD 4215

 

POSTAL ADDRESS       PO Box 2160

                                    NERANG EAST, QLD

 

TELEPHONE                 (617) 5530 7066

 

HOLDING ENTITY                 MARSHALL MONTEAGLE PLC (50.1%)

 

BANK                           Not determined 

                                               

EMPLOYEES                Not determined

 

           

BACKGROUND

 

The subject was incorporated in Queensland on 10 October 1985 as Stonemere P/L, before adopting the current style on 21 March 1986.

 

 

OPERATIONS

 

The subject operates in the import and distribution of hand tools and related machinery.

 

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 investigations, contact with Director, Alan Vacy-Lyle, was unable to be established. Despite numerous messages being left, no reply has been received.

 

As a result information relating to the subjects operating trading and financial position was unable to be obtained for the current enquiry.

 

The subject is 50.1% owned by Marshall Monteagle SA, a financial holding company incorporated in Luxembourg. It holds a portfolio of listed investments and has interests through subsidiaries and associate companies in general trading, freehold properties, commercial agriculture and gold mining. The company is listed on the Luxembourg, London and Johannesburg Stock Exchanges.

 

For the six months ended 31 March 2011 the global group recorded consolidated revenue of US$104,393,000 resulting in an operating profit of US$5,937,000.

 

 

TRADE SURVEY

 

Details pertaining to the subjects operations were unable to be obtained for the current enquiry.

 

A trade survey was subsequently unable to be conducted.

 

 

SUMMARY

 

The subject was incorporated in Queensland on 10 October 1985 as Stonemere P/L, before adopting the current style on 21 March 1986.

 

Information relating to the subjects operating trading and financial position was unable to be obtained for the current enquiry.

 

 

 

 Bottom of Form

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.37

UK Pound

1

Rs.70.84

Euro

1

Rs.62.96

 

 

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

----

 

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.