MIRA INFORM REPORT

 

 

Report Date :

07.06.2011

 

IDENTIFICATION DETAILS

 

Name :

TOSHIBA TEC AUSTRALIA PTY LTD

 

 

Registered Office :

1/9 South Street Rydalmere, New South Wales 2116

 

 

Country :

Australia

 

 

Date of Incorporation :

07.02.1985

 

 

Legal Form :

Proprietary Limited Company

 

 

Line of Business :

Import, Distribution, Sales and Service support of point of sale systems, cash registers, barcode/  RFID printers, peripherals and software information systems throughout Australia and New Zealand markets.

 

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

 

Company name                                                           

 

TOSHIBA TEC AUSTRALIA PTY LTD

ACN: 002 890 673

ABN: 93 002 890 673

 

 

CORPORATE SEARCH

 

Incorporation Date: 07 Feb 1985

 

Incorporation State: New South Wales

 

Registered Office

1/9 SOUTH Street RYDALMERE, New South Wales 2116 Australia

 

Number of Shares Issued: 2000000

 

Paid Capital: 2000000

 

Shareholders

Shareholder Name: TOSHIBA TEC CORPORATION

Number of Shares: 2000000

 

Current Directors

Director Name: MURATA, HISAKAZU

Appointment Date: 01 Apr 2011

Date of Birth: 08 Jan 1959

Gender: Unknown

Address:

Resident Overseas: Yes

 

Director Name: PAGE, VICKI JOY

Appointment Date: 04 Dec 2010

Date of Birth: 12 Aug 1952

Gender: Female

Address: 16 GILDA Way TOONGABBIE, New South Wales 2146 Australia

Resident Overseas: No

 

Director Name: SUETSUGU, DAIGORO

Appointment Date: 04 Dec 2010

Date of Birth: 09 Mar 1961

Gender: Unknown

Address:

Resident Overseas: Yes

 

Secretary

Secretary Name: ANTHONY KENNETH BROOKS

Appointment Date: 03 Aug 1994

 

BUSINESS STRUCTURE

 

TRADING ADDRESS                 Unit 1, 9 to 11 South St

                                                RYDALMERE, NSW 2116                                 

 

TELEPHONE                             (612) 8845 6200

 

FACSIMILE                               (612) 9680 0892

 

HOLDING ENTITY                      TOSHIBA TEC CORPORATION P/L

 

ULTIMATE HOLDING

ENTITY                                     TOSHIBA CORPORATION

 

BRANCHES                              MT WAVERLEY, VIC

 

BANK                                       NATIONAL AUSTRALIA BANJK

                                               

EMPLOYEES                            20        

 

 

BACKGROUND

 

The subject was incorporated in New South Wales on 7 February 1985 before adopting the current style on 24 December 2004.

 

 

OPERATIONS

 

The subject operates in the import, distribution, sales and service support of point of sale systems, cash registers, barcode/  RFID printers, peripherals and software information systems throughout Australia and New Zealand markets.

 

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

 

 

ADVERSE

                                               

A search of of failed totrace 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 advised that for the last financial year ended 31 March 2011 the subject recorded a loss on revenue of $8,400,000.

 

The loss for the last financial year was attributable to a restructuring and expansion of the subject’s products line. Instead of purchasing around 50% of the subject’s requirements from the holding entity, this will be reduced to 50%.

 

On a projected basis the subject expects to trade profitably and record revenue of $11,000,000 for the current financial year ending 31 March 2012.

 

Current assets at 31 March 2011 included inventories of $1,100,000 and receivables of $1,200,000.

 

Current liabilities at this time included creditors of $836,000.

 

At 31 March 2011 the subject recorded Net Assets of $4,000,000.

 

 

TRADE SURVEY

 

A trade survey on the subject traced the following accounts:

 

(Paccon) Purchases average $5,000 per month on 30 day terms. Payment is met in 30 days and the account is considered satisfactory, having been known over 5 years.

 

(Ingram Micro) Nominated supplier failed to respond to correspondence despite chasing.

 

 

SUMMARY

 

The subject was incorporated in New South Wales on 7 February 1985 before adopting the current style on 24 December 2004.

 

For the last financial year ended 31 March 2011 the subject recorded a loss on revenue of $8,400,000.

 

On a projected basis the subject expects to trade profitably and record revenue of $11,000,000 for the current financial year ending 31 March 2012.

 

At 31 March 2011 the subject recorded Net Assets of $4,000,000.

                                   

                                               


 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.72

UK Pound

1

Rs.73.46

Euro

1

Rs.65.47

 

 

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%)

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.