|
|
|
MIRA INFORM REPORT
|
Report No. : |
495960 |
|
Report Date : |
09.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
SEVENTY-NINTH VIBRATION PTY LTD |
|
|
|
|
Registered Office : |
22
Narracan Street Vermont South,
Victoria 3133 |
|
|
|
|
Country : |
Australia |
|
|
|
|
Date of Incorporation : |
03.06.1982 |
|
|
|
|
Legal Form : |
Australian Proprietary Company |
|
|
|
|
Line of Business : |
The subject operates in the manufacture and distribution of sheepskin automotive seat covers. |
|
|
|
|
No. of Employees : |
5 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
|
|
|
|
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
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
Australia |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
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.
|
Source
: CIA |
Company
name
SEVENTY-NINTH VIBRATION PTY LTD
TRADING
AS - REGAL SEAT COVERS
ACN: 006 040 437
ABN:
36 006 040 437
Summary
Panel
|
Established |
1982 |
|
|
Incorporated |
1982 |
|
|
Status |
Trading |
|
|
Line of Business |
Distribution of
seat covers and mats |
|
|
Chief Executive Officer |
Karen Sanson |
|
|
Adverse Listings |
|
|
EXECUTIVE
SUMMARY
For the last financial year ended 30 June 2017 the subject
traded profitably and recorded revenue of more than $2,000,000.
A similar or improved result is projected for the current financial
year ending 30 June 2018
The subject maintains an overdraft facility with the
National Australia Bank which is used to assist in funding Working capital
requirements.
Enquiries in trade quarters revealed satisfaction from
suppliers contacted in dealing with the subject on a credit basis.
CORPORATE
SEARCH
Company Type Australian
Proprietary Company
Incorporation
Date: 03 Jun 1982
Incorporation
State: Victoria
Registered Office 22
NARRACAN Street
VERMONT
SOUTH, Victoria 3133 Australia
Number
of Shares Issued: 4
Paid
Capital: 4
Shareholders KAREN
SANSON
Number of Shares: 4
Directors SANSON,
KAREN
Appointment Date: 25.06.2014
Date of Birth: 11.04.1963
Gender: Female
4 WOODLEIGH AVE UPWEY VIC 3158
Resident Overseas: No
Secretary SANSON,
KAREN
Appointment Date: 25.06.2014
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.
BUSINESS
STRUCTURE
TRADING ADDRESS 2
Kingsley Cl
ROWVILLE,
VIC 3178
TELEPHONE (613) 9759 9180
FACSIMILE (613)
9759 9191
BANK NATIONAL
AUSTRALIA BANK
EMPLOYEES 5
BACKGROUND
The subject was incorporated in Victoria on 3 June 1982 to commence
operations under the current style as a new venture.
OPERATIONS
The subject operates in the manufacture and distribution of
sheepskin automotive seat covers.
The subject also imports door mats.
Activities
are conducted from leased premises located at the above listed trading address.
ADVERSE
A
search of records of on 6 March 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 interview conducted with Karen Sanson she
advised for the last financial year ended 30 June 2017 the subject traded
profitably and recorded revenue of more than $2,000,000.
A similar or improved result is projected for the current
financial year ending 30 June 2018.
Current assets include stock on hand of $300,000 and
receivables of $250,000.
The subject maintains an overdraft facility with the
National Australia Bank which is used to assist in funding Working capital
requirements.
Current liabilities include creditors of $200,000.
Enquiries in trade quarters revealed satisfaction from
suppliers contacted in dealing with the subject on a credit basis.
TRADE SURVEY
A trade survey on the subject traced the following accounts:
(Kenealy
Customs) Nominated supplier is yet to respond to correspondence
(Taylor
Computer Systems) Purchases average less than $500 per month on 30 day terms.
Payment is met to terms and the account is considered satisfactory, having been
known for 20 years.
Trade payment records from
further sources in the past 4 months have traced the following data.
Total Owing: $952
Total Past Due: $952
-
within terms: $0
-
1 – 30 days past due: $0
-
31 – 60 days past due: $952
-
61 – 90 days past due: $0
-
91+ days: $0
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.92 |
|
|
1 |
INR 90.23 |
|
Euro |
1 |
INR 80.54 |
|
AUD |
1 |
INR 50.87 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIY |
|
|
|
|
Report Prepared
by : |
TRU |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
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
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
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.