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Report Date : |
30.11.2012 |
IDENTIFICATION DETAILS
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Name : |
STOCKWOOL PTY LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
22 July 1997 |
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Legal Form : |
Proprietary Company, Limited By Shares |
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Line of Business : |
Wool exporters |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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REGISTERED NAME: |
STOCKWOOL PTY
LTD |
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AUSTRALIAN
COMPANY NUMBER: |
079 425 951 |
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AUSTRALIAN
BUSINESS NUMBER: |
84 079 425 951 |
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OPERATING
ADDRESS: |
WHITTLESEA, VIC
3757 |
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REGISTERED
ADDRESS: |
Level 7, MOONEE PONDS,
VIC 3039 |
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OTHER TRADING
NAMES: |
Nil |
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TELEPHONE
NUMBER: |
(03) 9715 1447 |
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WEB SITE
ADDRESS: |
Nil |
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DATE OF
INCORPORATION: |
22 July 1997 – Incorporated in |
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CHANGE OF NAME: |
22 July 1997 – To present. |
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PAID CAPITAL: |
$24 in $1 shares. |
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DIRECTOR: |
KENNETH JAMES
STOCK WHITTLESEA, VIC 3757 |
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SHAREHOLDERS: |
Refer HISTORY |
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SECRETARY: |
KENNETH JAMES
STOCK |
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AUDITORS: |
Not shown |
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REGISTERED
CHARGES: |
Refer REGISTERED CHARGES |
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PAYMENTS: |
COD, 60 days and in accordance with terms. |
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LEGAL ACTIONS /
DEFAULTS: |
Nil |
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EMPLOYEES: |
1 |
PARENT COMPANY
NIL
SUBSIDIARY COMPANIES
NIL
ASSOCIATE COMPANIES
K.J. STOCK
NOMINEES PTY LTD
ACTIVITIES
The subject operates as wool exporters, exporting on a worldwide basis.
Operations are conducted from owned premises situated at the heading address.
The company does not have any branches.
The subject employs 1 in activities.
The director is fully active in company operations.
HISTORY
The subject was incorporated in
Australian Company Number: 079 425 951.
Paid capital $24 in 24 shares paid to $1 each.
Shares are held by:
K.J. STOCK NOMINEES PTY LTD 12
RAELENE ELLEN STOCK 6
KENNETH JAMES STOCK 6
The above information is in accordance with the last Company Statement
Annual lodged with the Australian Securities and Investments Commission and
compiled at report date.
Operations of the company were commenced in 1997.
The subject does not maintain any operating subsidiary or associate
concerns.
DIRECTOR
KENNETH JAMES
STOCK was born on 22 April 1952 and was appointed to the board of directors on
22 July 1997. He is fully active in the day to day operations of the company.
He is also the Company Secretary, having been appointed to this position on 22
July 1997.
BANK
ST GEORGE BANK LIMITED
HEAD OFFICE,
MELBOURNE, VIC
3000
The subject maintains bank overdraft facilities.
The bank holds a Registered Charge over company assets. Please refer to
the REGISTERED CHARGE section for
details.
TRADING
Following are details of a trade survey undertaken in March 2007:
1.
This supplier has declined to provide monthly
trading figures. Payment is being met Cash On Delivery and in 60 days. The subject
has traded with this supplier for 5 years and is a no problem account.
2.
This supplier has also declined monthly trading
figures. Payment is being met within terms. The account has been held in excess
of 10 years and is an excellent account.
FINANCE
Due to amendments to the Corporations Law by
the First Corporate Law Simplification Act 1995, subject is not required to
lodge financial statements with the Australian Securities & Investment
Commission.
disclose the following inquiries in relation
to finance applications:
Nothing has been recorded to date in 2007 or during 2006 and 2005.
On 17 November 2004 to Capital Commercial Finance Vic for Hire Purchase
for an amount of $51,788.
On 2 February 2004 to Toyota Financial Services for Personal Loan for an
amount of $15,886.
On 27 June 2002 to Esanda Dealership Vic for
Hire Purchase for an amount of $15,855.
REGISTERED CHARGES
The following Registered Charge has been recorded over the subject’s
assets:
On 17 November 1997, Fixed and Floating Charge to St George Bank
Limited, ASIC Charge No. 618786.
RECORDED ACTIONS
Nothing of an adverse nature has been recorded against the subject.
INVESTIGATION
An interview was conducted with Mr Kenneth J
Stock, Director and Company Secretary, in March 2007. At this time he confirmed
operational and trading details and advised the following:
Annual sales of the company are in the vicinity of $8,000,000-$10,000,000.
Stock on hand at any given time is valued between $500,000-$1,000,000.
The subject maintains bank overdraft facilities. The limit on this is
$400,000 and is secured over company assets.
Premises at the heading address are owned.
However, further financial information could not be provided.
Enquiries made with trade sources failed to trace any additional
information in relation to the subject.
A Land Titles Search has not been undertaken to ascertain what land, if
any, stands in the subject’s name. This
can be undertaken on request.
CONCLUSION
The subject was incorporated in
Paid capital $24 in 24 shares paid to $1 each.
The subject operates
as wool exporters, exporting on a worldwide basis.
Suppliers contacted have reported commitments being met in accordance
with terms and is an excellent and no problem account.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.55.20 |
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UK Pound |
1 |
Rs.88.38 |
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Euro |
1 |
Rs.71.47 |
INFORMATION DETAILS
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Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.