MIRA INFORM REPORT

 

 

Report Date :           

21.07.2011

 

IDENTIFICATION DETAILS

 

Correct Name :

SAE GROUP PTY LTD

 

 

Registered Office :

'Showcase On The Beach' Suite 218 Level 2, 72-80 Marine Parade, Coolangatta Qld 4225

 

 

Country :

Australia

 

 

Date of Incorporation :

17.05.2010

 

 

Legal Form :

Proprietary Company

 

 

Line of Business :

distribution and installation of solar, air conditioning and electrical 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 – 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 

 

SAE GROUP PTY LTD

ACN: 143 698 864

ABN: 34 143 698 864

 

                                                                                                                                   

CORPORATE SEARCH

                                               

Incorporation State: QLD

 

Incorporation Date: 17 MAY 2010

 

Registered Office

'SHOWCASE ON THE BEACH' SUITE 218 LEVEL 2,

72-80 MARINE PARADE,

COOLANGATTA

QLD 4225

 

Registered Charges: 2

VOLKSWAGEN FINANCIAL SERVICES AUSTRALIA PTYLIMITED (097071460)

2155229

Registered 01 APR 2011

Fixed

 

AUSTRALIA AND NEW ZEALAND BANKING GROUPLIMITED (005357522)

2105142

Registered 21 DEC 2010

Fixed

 

Current Directors Total: 3

 

NATHAN PHILLIP GUDSELL – Appointed:  17 MAY 2010

2 CAMDEN Court POTTSVILLE, New South Wales

DOB: 11 APR 1980

 

BRENDAN MICHAEL ELDRIDGE – Appointed:  17 MAY 2010

5 EGRET Avenue BURLEIGH HEADS, Queensland

DOB: 03 MAR 1983

 

GLEN ASHTON – Appointed:  17 MAY 2010

25 MARINERS Crescent BANORA POINT, New South Wales

DOB: 24 JAN 1980

 

Current Secretaries Total: 1

BRONWYN JEAN GUDSELL – Appointed: 17 MAY 2010

 

Share Structure - Classes Total: 1

ORD ORDINARY SHARES: 3 – Amount paid: $3

 

Shareholders Total: 3

 

ORD 1 - GLEN ASHTON

ORD 1 - NATHAN PHILLIP GUDSELL

ORD 1 - BRENDAN MICHAEL ELDRIDGE

 

 

BUSINESS STRUCTURE

 

TRADING ADDRESS                 unit 2, 44 Greenway Dr

                                                TWEED HEADS SOUTH, NSW 2486                             

           

TELEPHONE                             (617) 5524 9003

 

BANK                                       BANK OF QUEENSLAND

                                               

EMPLOYEES                            6         

 

BACKGROUND

 

The subject was incorporated in Queensland on 17 May 2010 under the current style.

 

The subject was formed to restructure the assets and operations of a business named Glenergy

 

 

OPERATIONS

 

The subject operates in the distribution and installation of solar, air conditioning and electrical products.

 

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, she confirmed the subjects search and operational details, however declined to provide any financial information as a matter of strict company policy.

 

Subsequently details in this regard were unable to be obtained during the current investigation.

 

Enquiries in trade quarters revealed satisfaction from suppliers contacted in dealing with the subject on a credit basis.

 

 

TRADE SURVEY

 

A trade survey on the subject traced the following accounts:

 

1.         (Southern Cross Fasteners) Purchases average $750 to $1,250 per month on 30 day terms. Payment is met in 30 days and the account is considered satisfactory having been known since August 2010.

 

2.         (First Step Electrical) Purchases range up to $12,000 per month on 30 day terms. Payment is met in 30

days and the account is considered satisfactory having been known for 12 months.

 

 

SUMMARY

 

The subject was incorporated in Queensland on 17 May 2010 under the current style.

 

The subject was formed to restructure the assets and operations of a business named Glenergy

 

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

 

Enquiries in trade quarters revealed satisfaction from suppliers contacted in dealing with the subject on a credit basis.

 

           

                                   

                                               


FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.46

UK Pound

1

Rs.71.67

Euro

1

Rs.62.94

 

 

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.