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Report No. : |
316973 |
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Report Date : |
17.04.2015 |
IDENTIFICATION DETAILS
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Name : |
HURACAN PTY LTD |
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Registered Office : |
151
Warooby Lane Roma Qld, 4455 |
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Country : |
Australia
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Date of Incorporation : |
19.01.2015 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
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No. of Employees : |
3 |
RATING & COMMENTS
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MIRAs Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
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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, 2014
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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Australia |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
AUSTRALIA - ECONOMIC OVERVIEW
The Australian economy has experienced continuous growth and features low unemployment, contained inflation, very low public debt, and a strong and stable financial system. By 2014, Australia had experienced more than 20 years of continued economic growth, averaging more than 3% a year. Demand for resources and energy from Asia and especially China has grown rapidly, creating a channel for resources investments and growth in commodity exports. The high Australian dollar has hurt the manufacturing sector, while the services sector is the largest part of the Australian economy, accounting for about 70% of GDP and 75% of jobs. Australia was comparatively unaffected by the global financial crisis as the banking system has remained strong and inflation is under control. Australia has benefited from a dramatic surge in its terms of trade in recent years, stemming from rising global commodity prices. Australia is a significant exporter of natural resources, energy, and food. Australia's abundant and diverse natural resources attract high levels of foreign investment and include extensive reserves of coal, iron, copper, gold, natural gas, uranium, and renewable energy sources. A series of major investments, such as the US$40 billion Gorgon Liquid Natural Gas project, will significantly expand the resources sector. Australia is an open market with minimal restrictions on imports of goods and services. The process of opening up has increased productivity, stimulated growth, and made the economy more flexible and dynamic. Australia plays an active role in the World Trade Organization, APEC, the G20, and other trade forums. Australia has bilateral free trade agreements (FTAs) with Chile, Malaysia, New Zealand, Singapore, Thailand, and the US, has a regional FTA with ASEAN and New Zealand, is negotiating agreements with China, India, Indonesia, Japan, and the Republic of Korea, as well as with its Pacific neighbors and the Gulf Cooperation Council countries, and is also working on the Trans-Pacific Partnership Agreement with Brunei Darussalam, Canada, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore, the US, and Vietnam.
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Source
: CIA |
HURACAN PTY LTD
ACN: 155 236 114
ABN: 66 155 236 114
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Summary Panel |
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Established |
2012 |
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Incorporated |
2012 |
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Line of Business |
services to the coal seam gas industry |
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Status |
Trading |
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Chief Executive Officer |
Jon Hollingworth |
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Adverse Listings |
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Rating |
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For the last financial year ended 30 June 2014 the subject traded profitably and recorded revenue of $900,000.
On a projected basis the subject expects to record revenue of $600,000 for the current financial year ending 30 June 2015. The decline is attributable to a downturn in the LNG market.
Enquiries in trade quarters revealed satisfaction from one supplier contacted.
Company Type Australian Proprietary Company
Status Registered
Incorporation Date 19 Jan 2012
Incorporation State VIC
Registered Office 151 WAROOBY LANE ROMA QLD,
4455
Current
Directors Total: 2
Director Name HOLLINGWORTH, KATRINA
Appointment Date 19 Jan 2012
Date of Birth 13 Nov 1976
Place of Birth MAFFRA VIC
Gender FEMALE
Resident Overseas N
Address 151 WAROOBY LA, ROMA QLD
4455
Document Number 2E0438370
Director Name HOLLINGWORTH, JON PAUL
Appointment Date 19 Jan 2012
Date of Birth 25 Sep 1972
Place of Birth NEW ZEALAND
Gender MALE
Resident Overseas N
Address 151 WAROOBY LA, ROMA QLD
4455
Document Number 2E0438370
Current
Secretaries Total: 1
Secretary Name HOLLINGWORTH, KATRINA
Appointment Date 19 Jan 2012
Date of Birth 13 Nov 1976
Place of Birth MAFFRA VIC
Address 151 WAROOBY LANE ROMA QLD,
4455
Document Number 2E0438370
Company
Shares Total: 20 Amount: $20
Class ORDINARY SHARES [ORD]
Number of Shares Issued 20
Paid Capital $20.00
Total Amount Due and Payable $0.00
Document Number 1E8044917
Current
Shareholders
Shareholder Name HOLLINGWORTH, JON PAUL
Address 151 WAROOBY LANE ROMA QLD,
4455
Class ORD
Number Held 10
Beneficially Held Y
Fully Paid Y
Jointly Held N
Document Number 2E0438370
Shareholder Name HOLLINGWORTH, KATRINA
Address 151 WAROOBY LANE ROMA QLD,
4455
Class ORD
Number Held 10
Beneficially Held Y
Fully Paid Y
Jointly Held N
Document Number 2E0438370
Effective 30 January 2012 the Personal Property Securities Register (PPSR) was introduced to give the different Commonwealth, State and Territory laws and registers regarding security interests in personal property under one national system.
As a result of PPS Reform a number of existing Commonwealth, State and Territory personal property security registers will close. Interests registered on existing security interest registers will be migrated to the national PPS Register. Subsequently Registered Charges are no longer lodged with the Australian Securities and Investments Commission (ASIC).
Please contact us should you require a search of the PPSR.
TRADING ADDRESS 151 Warooby Lane
ROMA, QLD 4455
POSTAL ADDRESS PO Box 1070
ROMA, QLD 4455
TELEPHONE 0414 717 907
EMAIL jhollingworth@huracan.com.au
WEBSITE www.huracan.com.au
TRADING STYLE MARANOA TEST AND TAG
BANK WESTPAC BANKING CORPORATION
EMPLOYEES 3
The subject was incorporated in Victoria on 19 January 2012 to commence operations under the current style as a new venture.
The company was founded by Jon Hollingworth who has had more than 21 years of providing different services to the Oil and Gas industry.
During those 21 years he gained experience in Wireline
logging (both open hole and cased hole), Directional Drilling, Coil Tubing,
Stimulation and Testing. Over his career he worked with service providers
Halliburton, Schlumberger and Owen Oil Tools.
The subject operates as a provider of services to the coal seam gas market.
The subject provides gyro services, permanent gauge installation and production log interpretation services.
Activities are conducted from premises located at the above listed trading address.
A search of of on 10 April 2015 failed to trace any litigation listed against the subject at that date.
The subject is not required to lodge financial statements with the Australian Securities and Investments Commission.
During the current interview conducted with Director John Hollingworth he advised that for the last financial year ended 30 June 2014 the subject traded profitably and recorded revenue of $900,000.
On a projected basis the subject expects to record revenue of $600,000 for the current financial year ending 30 June 2015. The decline is attributable to a downturn in the LNG market.
The subject operates as a service provider and subsequently carries no stock on hand. Current assets include receivables of $20,000.
The subject maintains no overdraft facilities as all operations are funded through the internal cashflows of the company.
Current liabilities include creditors of less than $200,000.
Fixed assets include plant and equipment of $700,000.
Enquiries in trade quarters revealed satisfaction from one supplier contacted.
A trade survey on the subject traced the following accounts:
1. (Vause) Purchases range between $10,000 and $30,000 per month on 30 day terms. Payment is met within 30 days and the account is considered satisfactory having been known since May 2012.
2. Nominated supplier failed to respond to correspondence despite chasing.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.37 |
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|
1 |
Rs.92.44 |
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Euro |
1 |
Rs.66.56 |
INFORMATION DETAILS
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Analysis Done by
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SUB |
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Report Prepared
by : |
VNT |
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 SCs
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.