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MIRA INFORM REPORT
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Report No. : |
493278 |
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Report Date : |
26.02.2018 |
IDENTIFICATION DETAILS
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Name : |
ULTRASPIN TECHNOLOGY
PL |
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Registered Office : |
60 Robinson Street, Dandenong VIC, 3175 |
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Country : |
Australia |
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Date of Incorporation : |
29.08.2002 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
The subject operates in the supply of water treatment solutions
specializing in the design and distribution of high
performance oily water separators and oil water management solutions to all
industries. |
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No. of Employees : |
Not Available |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
B |
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Credit Rating |
Explanation |
Rating Comments |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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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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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 2018 facing a range of growth constraints, principally driven by the
sharp fall in global prices of key export commodities. Demand for resources and
energy from Asia and especially China has stalled and sharp drops in current
prices have 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 benefited from a dramatic surge in its terms of trade in
recent years, although this trend has reversed 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 WTO, APEC, the G20, and other trade forums.
Australia’s free trade agreement (FTA) with China entered into force in 2015,
adding to existing FTAs with the Republic of Korea, Japan, 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 10 ASEAN countries and China, Japan, Korea, New
Zealand and India.
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Source
: CIA |
CORPORATE
REPORT
NAME GIVEN TRASPIN TECHNOLOGY PL
SPECIAL NOTE A search of failed
to trace any entity listed under the given style.
Investigations
revealed that the correct legal name is Ultraspin Technology PL
REGISTERED NAME ULTRASPIN TECHNOLOGY PL
ACN 101873250
ABN 53101873250
Summary
Panel
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Established |
1983 |
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Incorporated |
2002 |
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Line of Business |
Water treatment solutions |
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Status |
Trading |
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Chief Executive Officer |
PRENDERGAST, GAVAN JAMES |
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EXECUTIVE
SUMMARY
Details pertaining to the subject’s financial and trading position were
unable to be obtained for the current enquiry.
In view of the above the subject has been assigned with a rating of ‘NA
5’.
CORPORATE
SEARCH
Company Type Australian
Proprietary Company
Incorporation Date 29 Aug 2002
Incorporation State VIC
Registered Office 60 Robinson Street
Dandenong VIC, 3175
Current Directors Total: 1
Director Name PRENDERGAST, GAVAN JAMES
Appointment Date 29 Aug 2002
Date of Birth 04 Nov 1957
Place of Birth MELBOURNE VIC
Gender MALE
File Number 279659377
Resident Overseas N
Address 20 REDLEAF WAY, WHEELERS
HILL VIC 3150
Current Secretaries Total: 1
Secretary Name PRENDERGAST, GAVAN JAMESJOSEPH
Appointment Date 29 Aug 2002
Date of Birth 04 Nov 1957
Place of Birth MELBOURNE VIC
Address 20 REDLEAF WAY WHEELERS
HILL VIC, 3150
Company Shares Total: 1000 Amount: $1,000
Class ORDINARY SHARES [ORD]
Number of Shares Issued 1000
Paid Capital $1,000.00
Total Amount Due and Payable $0.00
Current Shareholders
Shareholder Name FIFTH MAYTOR PTY. LTD.
ACN 006328123
Address 20 REDLEAF WAY WHEELERS
HILL VIC, 3150
Class ORD
Number Held 1000
Beneficially Held Y
Fully Paid Y
Jointly Held N
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).
BUSINESS STRUCTURE
TRADING ADDRESS 46
Wadhurst Drive
BORONIA
VIC 3155
TELEPHONE (613)
8841 7200
WEBSITE http://www.ultraspin.com.au
HOLDING ENTITY FIFTH
MAYTOR PTY. LTD.
BANK Not
determined
EMPLOYEES Not
determined
BACKGROUND
The subject was incorporated in Victoria on 22 August 2002 before
adopting the current style on 29 May 2003.
Operations were founded in 1983.
OPERATIONS
The subject operates in the supply of water treatment solutions
specializing in the design and distribution of high performance
oily water separators and oil water management solutions to all industries.
The subject sell oil water separators, oil skimmers
and wash water reclaim systems.
Activities are conducted from premises located at the above listed trading address.
ADVERSE
A search of records of on 21 February 2018 failed to trace 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 investigation contact with the subject’s financial controller
Caroline was unable to be established. It was advised that she is away and is
not due to return until the middle of next week.
As a result current financial and trading details pertaining to the
subject could not be obtained for the current enquiry.
TRADE
SURVEY
During the current investigation, contact with the subject’s principals
was unable to be established.
Subsequently details pertaining to the company’s suppliers were unable
to be obtained and a trade survey could not be conducted.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 64.82 |
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1 |
INR 90.40 |
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Euro |
1 |
INR 79.76 |
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AUD |
1 |
INR 51.01 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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VAR |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
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Company
background and operations size
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Promoters
/ Management background
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Payment
record
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Litigation
against the subject
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Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.