MIRA INFORM REPORT

 

 

Report Date :

07.03.2011

 

IDENTIFICATION DETAILS

 

Name :

FLETCHER INSULATION (VIC) PTY LTD

 

 

Formerly Known As :

TOWNLUX P/L

 

 

Registered Office :

'Zenith Centre Tower B' Level 11, 821 Pacific Highway, Chatswood Nsw 2067

 

 

Country :

Australia

 

 

Date of Incorporation :

29.06.1998

 

 

Legal Form :

Proprietary Limited Company

 

 

Line of Business :

--

 

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 – December 31, 2010

 

Country Name

Previous Rating

(30.09.2010)

Current Rating

(31.12.2010)

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      

 

FLETCHER INSULATION (VIC) PTY LTD

ACN: 083 169 402

ABN: 15 083 169 402

 

 

ADDRESS PROVIDED    

161 Arthur St

HOMEBUSH, NSW

 

SPECIAL NOTE             The address provided is a branch of Fletcher Insulation P/L

           

 

CORPORATE SEARCH

 

Incorporation State: NSW

 

Incorporation Date: 29 JUN 1998

 

Registered Office

'ZENITH CENTRE TOWER B' LEVEL 11,

821 PACIFIC HIGHWAY,

CHATSWOOD

NSW 2067

 

Main Business Location

State: New South Wales

Postcode: 2067

 

Current Directors Total: 2

 

DAVID ISAACS 12 JAN 2009

694 PORT HACKING Road DOLANS BAY, New 24 MAR 1961 Male No 176212761

South Wales 2229 Australia

 

CHRISTOPHER DAVID ELLIS 25 OCT 2006

10 JAN 1959 Unknown Yes

 

Current Secretaries Total: 1

 

WENDY KHI TSHING KONG 30 APR 1999

 

Share Structure - Classes Total: 1

 

ORD ORDINARY SHARES - 94500001 – Amount paid: $37,180,028

 

Shareholders Total: 1

 

ORD 94500001 - INSULATION SOLUTIONS HOLDINGS PTY LIMITED

 

 

BUSINESS STRUCTURE

 

HEAD OFFICE                          600 Woodstock Ave

                                                ROOTY HILL, NSW 2766                                   

 

TELEPHONE                             1300 654 444

 

FACSIMILE                               (612) 9675 2618

 

ULTIMATE HOLDING

ENTITY                         FLETCHER BUILDING LIMITED

 

HOLDING ENTITY                      INSULATION SOLUTIONS HOLDINGS P/L

 

BANK                                       ANZ BANKING GROUP

                                                Branch: Queen St

                                                BRISBANE, QLD 4000

                                               

EMPLOYEES                            Nil

                                                4,077 – Australia group

           

           

BACKGROUND

 

            The subject was incorporated in New South Wales on 29 June 1998 as Townlux P/L changing name on 21 June 2002 to Insulation Solution P/L before adopting the current style on 1 November 2005.

 

The ultimate holding entity Fletcher Building Products Limited is a corporation listed on the New Zealand and Australian Stock Exchanges. It has origins, which date back to 1864.

 

FletcherBuilding is a New Zealand based building materials manufacturer and distributor with operations in steel, plasterboard, panel products and aluminium extrusion in the residential and commercial sectors.

 

 

OPERATIONS

 

The subject is a non-trading entity.

 

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

 

ADVERSE

                                               

A search of of on 23 February 2011 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 Financial Controller Craig Wood (02) 9677 4410, he advised that the subject is a non-trading entity. He advised that all operations in Australia for the Fletcher Insulation business are carried out by Fletcher Insulation P/L.

 

Details pertaining to the subjects operating trading and financial position were subsequently unable to be obtained for the current enquiry.

 

 

TRADE SURVEY

 

The subject is a non-trading entity.

 

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

 

 

SUMMARY

 

The subject was incorporated in New South Wales on 29 June 1998 as Townlux P/L changing name on 21 June 2002 to Insulation Solution P/L before adopting the current style on 1 November 2005.

 

The ultimate holding entity Fletcher Building Products Limited is a corporation listed on the New Zealand and Australian Stock Exchanges. It has origins, which date back to 1864.

 

The subject is a non-trading entity.

 

Details pertaining to the subjects operating trading and financial position were subsequently unable to be obtained for the current enquiry.

 

                                               

                                   

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.99

UK Pound

1

Rs.73.24

Euro

1

Rs.62.80

 

 

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.