MIRA INFORM REPORT

 

 

Report Date :           

06.06.2011

 

IDENTIFICATION DETAILS

 

Name :

R H BARE PTY LTD

 

 

Registered Office :

22 Williamson Road, Ingleburn, New South Wales 2565

 

 

Country :

Australia

 

 

Date of Incorporation :

24.08.1967

 

 

Legal Form :

proprietary Company

 

 

Line of Business :

manufacturer of pattern agricultural tractor parts in the southern hemisphere

 

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      

 

R H BARE PTY LTD

ACN: 000 588 214

ABN: 95 000 588 214

 

 

CORPORATE SEARCH

 

Incorporation Date:                     24 Aug 1967

 

Incorporation State:                    New South Wales

 

Registered Office                       22 WILLIAMSON Road

                                                INGLEBURN, New South Wales 2565 Australia

 

Number of Shares Issued:           35000

 

Paid Capital:                              35000

 

Shareholders                             BARE HOLDINGS PTY LIMITED

Number of Shares: 17667

 

LAWNHUNT PTY. LIMITED

Number of Shares: 17323

 

RONALD BARE

Number of Shares: 5

 

ERIC BARE

Number of Shares: 5

 

Directors                                   BARE, EVAN

Appointment Date: 28 Jun 2001

Date of Birth: 11 Jan 1975

Gender: Male

Address: 10 HAWKEY Road MENANGLE, New South Wales 2568 Australia

Resident Overseas: No

 

BARE, ALLAN

Appointment Date: 24 Aug 1967

Date of Birth: 09 Apr 1944

Gender: Male

Address: 10 HAWKEY Road MENANGLE, New South Wales 2568 Australia

Resident Overseas: No

 

Secretary                                  ALLAN BARE AND OTHERS

                                                Appointment Date: 24 Aug 1967

 

BUSINESS STRUCTURE

 

TRADING ADDRESS                 22 Williamson Rd

                                                INGLEBURN, NSW 2565

 

TELEPHONE                             (612) 9829 7077

 

FACSIMILE                            (612) 9829 7088

 

ASSOCIATED ENTITY               BARECO P/L

                                                          BARE-CO (NZ) LTD

 

GROUP BRANCHES                 SALISBURY, QLD

                                                         UNDERWOOD, QLD

                                                       NORTH GEELONG, VIC

                                                  LAUNCESTON AIRPORT, TAS

                                                              BOHLE, QLD

                                                              MALAGA, WA

                                                          TAMWORTH, NSW

                                                              HORNBY, NZ

                                                             HAMILTON, NZ

 

BANK                                       Not determined 

                                               

EMPLOYEES                            50

           

 

BACKGROUND

 

The subject was incorporated in New South Wales on 24 August `967 to commence operations under the current style

 

The subject is a wholly Australian owned family run company, established by Roy Bare in 1944.

                       

 

OPERATIONS

 

The subject operates as the largest manufacturer of pattern agricultural tractor parts in the southern hemisphere.

 

The company operates a modern C.N.C equipped manufacturing plant within its Sydney headquarters.

 

All product is distributed through the associated entity Bareco P/L.

 

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

 

ADVERSE

                                               

A search of failed to trace any adverse findings 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 declined to confirm or provide any details pertaining to the subject unless the source of the enquiry was released.

 

As a result information pertaining to the subject’s financial and trading position were unable to be obtained for the current enquiry.

 

 

TRADE SURVEY

 

Details pertaining to the subjects suppliers were not provided for the current enquiry.

 

A trade survey on the subject was subsequently unable to be conducted.

 

 

SUMMARY

 

The subject was incorporated in New South Wales on 24 August `967 to commence operations under the current style

 

The subject is a wholly Australian owned family run company, established by Roy Bare in 1944.

           

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

 

           

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.85

UK Pound

1

Rs.73.29

Euro

1

Rs.64.89

 

 

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.