MIRA INFORM REPORT

 

 

Report Date :           

16.06.2011

 

IDENTIFICATION DETAILS

 

Name :

FANTECH PTY LTD

 

 

Formerly Known As :

Air & Noise Engineering (Vic) P/L

 

 

Registered Office :

42-62 Pound Rd W, Dandenong South, Vic 3175

 

 

Country :

Australia

 

 

Date of Incorporation :

10.05.1978

 

 

Legal Form :

Proprietary Company

 

 

Line of Business :

manufacturer of Ventilation & Acoustic products including fans, attenuators and related 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 

 

FANTECH PTY LTD

ACN: 005 434 024

ABN: 11 005 434 024

 

 

CORPORATE SEARCH

 

Incorporation State: VIC

 

Incorporation Date: 10 MAY 1978

 

Registered Office

42-62 POUND RD W,

DANDENONG SOUTH

VIC 3175

 

Registered Charges: 1

 

Both Fixed & Floating

NATIONAL AUSTRALIA BANK LIMITED (004044937)

1536506

Registered 29 OCT 2007

 

Current Directors Total: 6

 

DAVID LESLIE BALL – Appointed:  21 JUN 2010

DOB: 29 SEP 1967

Resident overseas

 

CHRISTOPHER JAMES OGILVY – Appointed:  29 AUG 2008

7 RIVERSDALE Road HAWTHORN, Victoria 3122

DOB: 10 AUG 1952

 

PAUL DEBRUIN – Appointed:  20 JUL 2000

5 BALCOMBE PARK Lane BEAUMARIS, Victoria

DOB:12 MAY 1962

 

JOHN BENT – Appointed:  20 JUL 2000

10 LYRA Court ROBINA, Queensland 4226

DOB: 12 JUL 1954

 

JOHN CHEONG TAN – Appointed:  22 APR 1999

15 WINDELLA Quadrant DONCASTER, Victoria 3108

DOB: 01 OCT 1950

 

JOHN LISTON PIRIE – Appointed:  10 MAY 1978

5 SUNNYSIDE Avenue CAMBERWELL, Victoria 3124

DOB: 08 JAN 1939

 

Current Secretaries Total: 1

 

MARIE CLAIRE GOOLAM HOSSEN – Appointed:  22 MAR 2011

 

Share Structure - Classes Total: 1

 

ORD ORDINARY: 2740000 – Amount paid: $2,740,000

 

Shareholders Total: 1

 

ORD 2740000 - ELTA GROUP (ASIA PACIFIC) PTY LTD

 

 

BUSINESS STRUCTURE

 

TRADING ADDRESS     42 to 62 Pound Rd West

                                    DANDENONG SOUTH, VIC 3175

 

TELEPHONE                 (613) 9554 7845

 

HOLDING ENTITY                 ELTA GROUP (ASIA PACIFIC) PTY LTD

 

ASSOCIATED

ENTITIES                                             SYSTEMAIRE P/L

                                                           AIRE DESIGN P/L

                                           THE VENTELATION WAREHOUSE P/L

 

BRANCHES                                     HUNTINGWOOD, NSW                                                      

                                                       SOMERTON PARK, SA

                                                             WINNELLIE, NT

                                                                                                                                                           

BANK                           NATIONAL AUSTRALIA BANK   

                                               

EMPLOYEES                150

 

 

BACKGROUND

 

The subject was incorporated in Victoria on 10 May 1978 as Yana P/L changing name on 24 August 1978 to Air & Noise Engineering (Vic) P/L before adopting the current style on 11 July 1986.

 

Operations have been established for 35 years.

                                                                       

OPERATIONS

 

The subject operates in the manufacture of Ventilation & Acoustic products including fans, attenuators and related products.

 

Activities are conducted from leased 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 Company Secretary, Mary Clair Hossen, she confirmed the subjects search and operational details, however declined to provide any financial or trading information as a matter of strict company policy.

 

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

 

The subject maintains a financing facility with the National Australia Bank, which is secured by a registered charge over certain fixed and floating assets of the company.

 

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:

 

·         (Fan and Blower) Purchases average $50,000 to $100,000 per month on 30 day terms. Payment is met to terms and the account is considered satisfactory, having been known for 30 years.

 

·         (Offshore Sheetmetal) Nominated supplier failed to respond to correspondence despite chasing.

 

 

 

 

 

 

 

SUMMARY

 

The subject was incorporated in Victoria on 10 May 1978 before adopting the current style on 11 July 1986.

 

Operations have been established for 35 years.

                       

Details pertaining to the subjects 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.44.68

UK Pound

1

Rs.73.05

Euro

1

Rs.64.29

 

 

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.