|
Report No. : |
338678 |
|
Report Date : |
04.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
CONDAMINE WELLSCREENS PTY LTD |
|
|
|
|
Registered Office : |
Accession3
Business Advisers Pty Ltd, 420-422 Ruthven Street Toowoomba Qld, 4350 |
|
|
|
|
Country : |
Australia |
|
|
|
|
Date of Incorporation : |
01.10.1993 |
|
|
|
|
Legal Form : |
Australian Proprietary Company |
|
|
|
|
Line of Business : |
The subject
operates in the manufacture of wedge wire screens including cylinder screens
and flat screens and accessories.. |
|
|
|
|
No. of Employees : |
15 |
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 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Australia |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
AUSTRALIA - ECONOMIC OVERVIEW
Following two decades of continuous growth, low unemployment, contained inflation, very low public debt, and a strong and stable financial system, Australia enters 2015 facing a range of growth constraints, principally driven by a sharp fall in global prices of key export commodities. Although demand for resources and energy from Asia and especially China has grown rapidly, creating a channel for resources investments and growth in commodity exports, sharp drops in current prices have already impacted growth. 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, although this trend could reverse or slow due to falling 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 entered into free trade agreements (FTAs) with the Republic of Korea and Japan, and concluded an FTA with China, in 2014, adding to existing FTAs with Chile, Malaysia, New Zealand, Singapore, Thailand, and the US, and a regional FTA with ASEAN and New Zealand. Australia continues to negotiate bilateral agreements with India and Indonesia, as well as larger agreements with its Pacific neighbors and the Gulf Cooperation Council countries, and an Asia-wide Regional Comprehensive Economic Partnership that includes the ten ASEAN countries and China, Japan, Korea, New Zealand and India. Australia is also working on the Trans-Pacific Partnership Agreement with Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the US, and Vietnam.
|
Source
: CIA |
CONDAMINE
WELLSCREENS PTY LTD
ACN: 061 706 358
ABN: 84 061 706 358
|
Established |
1993 |
|
|
Incorporated |
1993 |
|
|
Line of Business |
Manufacture of wire screens |
|
|
Status |
Trading |
|
|
Adverse Listings |
|
|
Financial details were not released for the
current enquiry. It was advised that the subjects operations have been
profitable.
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 suppliers contacted in dealing with the subject on a credit
basis.
Company
Type Australian
Proprietary Company
Status Registered
Incorporation Date
01 Oct 1993
Incorporation
State QLD
Registered Office
ACCESSION3 BUSINESS
ADVISERS PTY LTD,
420-422
RUTHVEN STREET
TOOWOOMBA QLD,
4350
Current Directors
Total: 2
Director Name
SCHMACKER, MARK BARRY
Appointment Date
16 Dec 1997
Date of Birth 25
Mar 1958
Place of Birth
TOOWOOMBA QLD
Gender MALE
Resident Overseas
N
Address 284
MERINGANDAN RD,
KLEINTON QLD 4352
Document Number
1E7803492
Director Name
SCHMACKER, PAUL GRAEME
Appointment Date
01 Oct 1993
Date of Birth 15
Nov 1960
Place of Birth
BRISBANE QLD
Gender MALE
Resident Overseas
N
Address 62
INDUSTRIAL AVE,
TOOWOOMBA QLD 4350
Document Number
1E9793246
Current
Secretaries Total: 1
Secretary Name
SCHMACKER, MARK BARRY
Appointment Date
16 Dec 1997
Date of Birth 25
Mar 1958
Place of Birth
TOOWOOMBA QLD
Address 284
MERINGANDAN ROAD
KLEINTON QLD, 4352
Document Number
1E7803492
Company Shares
Total: 202 Amount: $201
Class E CLASS
ORDINARY [ E ]
Number of Shares
Issued 2
Paid Capital $1.00
Total Amount Due
and Payable $0.00
Document Number
1E8699697
Class ORDINARY
SHARES [ ORD1 ]
Number of Shares
Issued 200
Paid Capital
$200.00
Total Amount Due
and Payable $0.00
Document Number
012119364
Current
Shareholders
Shareholder Name
SCHMACKER HOLDINGS PTY.LTD.
ACN 140737864
ABN -
Address 62
INDUSTRIAL AVENUE
TOOWOOMBA QLD,
4350
Class E
Number Held 2
Beneficially Held
N
Fully Paid Y
Jointly Held N
Document Number
1E8699697
Shareholder Name
SCHMACKER, MARK BARRY
Address 284
MERINGANDAN ROAD
KLEINTON QLD, 4352
Class ORD1
Number Held 100
Beneficially Held
Y
Fully Paid Y
Jointly Held N
Document Number
1E7803492
Shareholder Name
SCHMACKER, PAUL GRAEME
Address 62
INDUSTRIAL AVENUE
TOOWOOMBA QLD,
4350
Class ORD1
Number Held 100
Beneficially Held
Y
Fully Paid Y
Jointly Held N
Document Number
1E9793246
SECURITY INTERESTS 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 62 Industrial Ave
TOOWOOMBA,
QLD 4350
TELEPHONE (617)
4634 5311
FACSIMILE (617)
4634 53443
EMAIL cws@wedge-wire.com
WEBSITE www.wedge-wire.com
TRADING STYLE WEDGE
WIRE
ASSOCIATED ENTITIES TOOWOOMBA SELF STORAGE
BANK BANK
OF QUEENSLAND
EMPLOYEES 15
The subject was incorporated in Queensland on
1 October 1993.
The subject was formed to restructure the
assets and operations of an existing business.
The subject operates in the manufacture of
wedge wire screens including cylinder screens and flat screens and
accessories..
The subject also providers water jet cut and
electro polishing services.
Activities are conducted from premises
located at the above listed trading address.
A search of of on 27 August 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 General Manger Geoff, he advised that the subject has been trading
profitably, however declined to release any detailed financial information for
the current enquiry. It was advised that the subjects operations have been
profitable.
Information in this regard was 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 suppliers contacted in dealing with the subject on a credit
basis.
A trade survey on the subject traced the
following accounts:
1. (Vulcan Steel) Purchases average $6,000
per month on 30 day terms. Payment is met in 30 days and the account is
considered satisfactory having been known since October 2014.
2.(Customs and Forwarding) Purchases average
$3,000 per month on 30 day terms. Payment is met in 30 days and the account is
considered satisfactory having been known since 2000.
Trade payment from further sources in the
past 4 months have traced the following data for the subject.
Total
Owing: $9,507
Total
Past Due: $3,162
Average
Late Payment Days: 7
All
Industries Late Payment Days: 7
Within terms: $6,345
1 – 30 days past due: $3,162
31 – 60 days past due: $ 0
61 – 90 days past due: $0
91+ days: $0
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.23 |
|
UK Pound |
1 |
Rs.101.22 |
|
Euro |
1 |
Rs.74.33 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
TRU |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.