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Report No. : |
310296 |
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Report Date : |
10.03.2015 |
IDENTIFICATION DETAILS
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Name : |
WINTECH WA PTY LTD |
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Registered Office : |
Unit 1 Level M2 Corporate Pty Ltd, 75 Queen Victoria Street Fremantle Wa, 6160 |
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Country : |
Australia |
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Date of Incorporation : |
30.03.2009 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Manufacture of computer-controlled contour foam cutting and profiling machinery for the foam industry. |
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No of Employees : |
12 |
RATING & COMMENTS
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MIRA’s 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 Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 2012, Australia had experienced more than 20 years of continued economic growth, averaging 3.5% 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 |
WINTECH WA PTY LTD
T/AS WINTECH
ENGINEERING
ACN: 136355943
ABN: 83 003 299 160
Summary
Panel
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Established |
1985 |
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Incorporated |
2009 |
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Line of Business
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Manufacture of foam cutting machines |
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Status |
Trading |
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Chief Executive
Officer |
TWEDDLE, JAMES |
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Adverse Listings |
Nil |
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Company Search |
Adverse |
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Business
Structure |
Finances |
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Background |
Trade Survey |
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Operations |
Corporate
Rating |
The subject is
well established in its field of operations as manufacturers and has been
trading profitably with satisfactory payment patterns recorded.
In regards to
asset backing the subject is further noted to own the above listed trading
premises.
In the absence
of financial details we would recommend obtaining Directors personal guarantees
for added security before issuing credit terms.
Company Type Australian
Proprietary Company
Status Registered
Incorporation Date 30 Mar 2009
Incorporation State WA
Registered Office UNIT 1 LEVEL M2
CORPORATE
PTY LTD, 75 QUEEN VICTORIA
STREET FREMANTLE WA, 6160
Current Directors Total: 1
Director Name TWEDDLE, JAMES
Appointment Date 30 Mar 2009
Date of Birth 02 Jul 1948
Place of Birth ALBANY WA
Gender MALE
Veda File Number 66177130
Resident Overseas N
Address 58 MCCALLUM CRS, ARDROSS
WA 6153
Document Number 1E6298119
Current Secretaries Total: 1
Secretary Name TWEDDLE, JAMES
Appointment Date 30 Mar 2009
Date of Birth 02 Jul 1948
Place of Birth ALBANY WA
Address 58 MCCALLUM CRESCENT
ARDROSS WA, 6153
Document Number 1E6298119
Company Shares Total: 100 Amount:
$100
Class ORDINARY [ORD]
Number of Shares Issued 100
Paid Capital $100.00
Total Amount Due and Payable
$0.00
Document Number 025245289
Current Shareholders
Shareholder Name TWEDDLE, JAMES
Address 58 MCCALLUM CRESCENT
ARDROSS WA, 6153
Class ORD
Number Held 100
Beneficially Held Y
Fully Paid Y
Jointly Held N
Document Number 1E6298119
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 14 Dobra Rd
YANGEBUP,
WA 6164
TELEPHONE (618) 9494 5200
FACSIMILE (618) 9494 1777
EMAIL sales@wintechengineering.com.au
WEBSITE www.wintechengineering.com.au
TRADING STYLES WINTECH ENGINEERING
FOAM
SHAPERS
ASSOCIATED
ENTITIES UPLINK INVESTMENTS PTY LTD T/AS AUTRONICS
BANK ANZ
BANKING GROUP
EMPLOYEES 12
The subject was incorporated
in Western Australia on 30 March 2009 under the current style.
The subject was
formed to acquire the assets and operations of an existing business that was
founded in Western Australia on 1985.
The subject
commenced operations with the manufacture of surfboard blanks out of EPS.
The machine was so successful that several major companies
approached Wintech with a view to purchasing machines for
In October 1995 Wintech installed the first oscillating blade
machine for processing flexible polyurethane foam.
1996 saw the release of the Compuset auto loading hot-wire
machine.
After a change of ownership in 2000 an improved version of the
oscillating blade was released along with the new Profiler software on
Microsoft Windows.
2008 saw the release of a new high speed blade machine with an
oscillation speed of 60Hz, over double the competition. It also saw the release
of the dual Fastwire machines in standard height and low profile versions.
The subject operates in the
manufacture of computer-controlled contour foam cutting and profiling
machinery for the foam industry.
Products include fully automated and semi automated machines
such as:
Oscillating Blade Contour Cutter
Fastwire Abrasive Wire Contour Cutter
Compuset Hotwire Contour Cutter
A search of of
on 27 February 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 the subjects Financial Controller, she advised
that the subject has been trading profitably, however declined to release any
financial details as a matter of company policy.
Details in this
regard were subsequently unable to be obtained.
In regards to asset backing, the subject is noted to own the premises
located at the above listed trading address. A property search can be conducted
at your request to confirm ownership.
Enquiries in trade quarters revealed satisfaction from one supplier
contacted in dealing with the subject on a credit basis.
The subject is noted to operate in its capacity on behalf of the Wintech
WA Trust. Unsecured creditors are placed at maximum risk when dealing with a
trustee company.
A trade survey
on the subject traced the following accounts:
1. (Kounis Metals) Purchases average
$2,000 per month on 30 day terms. Payment is met in 30 days and the account is
considered satisfactory having been known since October 2012.
2. (Western Steel and Pipe) Nominated
supplier declined to provide a reference owing to company policy.
3. (Precision Circuits) Nominated supplier
failed to respond to correspondence despite chasing.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 62.61 |
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|
1 |
Rs. 94.39 |
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Euro |
1 |
Rs. 67.96 |
INFORMATION DETAILS
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Analysis Done by
: |
SUB |
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Report Prepared
by : |
DPT |
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.