MIRA INFORM REPORT

 

 

Report Date :

03.08.2007

 

IDENTIFICATION DETAILS

 

Name :

CONTINENTAL IMPAX PTY LTD

 

 

Registered Office :

3 Killaloe Ave, Pennant Hills, NSW 2120

 

 

Country :

Australia

 

 

Date of Incorporation :

6 September 2006

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Import and distribution of precious and semi precious stones and jewellery.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.

Small

 

Status :

New Company

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

REGISTERED NAME

 

CONTINENTAL IMPAX PTY LTD

 

 

RN

 

71741317

 

 

ABN

 

59 941 216 003

 

 

REGISTERED

 

6 September 2006

 

 

ADDRESS

 

3 Killaloe Ave

PENNANT HILLS, NSW 2120

 

 

PROPRIETORS

 

SOOD, Amar Kishore

3 Killaloe Ave

PENNANT HILLS, NSW 2120

 

SOOD, Suman

3 Killaloe Ave

PENNANT HILLS, NSW 2120

 

 

BUSINESS STRUCTURE

 

TRADING ADDRESS    

3 Killaloe Ave

PENNANT HILLS, NSW 2120

TELEPHONE     0417 468 691

FACSIMILE       (612) 9481 9950

 

 

 

 

 

BANK

 

Not determined 

 

                                               

EMPLOYEES 

 

2

 

 

BACKGROUND

 

The subject was registered in New South Wales on 6 September 1994 to commence operations under the current style as a new venture.

 

                       

OPERATIONS

 

The subject operates in the import and distribution of precious and semi precious stones and jewellery.

 

Activities are conducted from premises located at the above listed trading address.

 

 

ADVERSE

                                               

A search of the of Credit Advantage Limited on 27 July 2007 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 Proprietor Amar Sood, he confirmed the subjects search and operational details, however declined to provide any financial information as a matter of strict company policy.

 

Subsequently details in this regard were unable to be obtained during the current investigation.

 

Enquiries in trade quarters revealed satisfaction from one supplier contacted in dealing with the subject on a credit basis.

 

 

TRADE SURVEY

 

A trade survey on the subject traced the following accounts:

 

Purchases are of an undisclosed amount on 30 day terms. Payment is met in 30 days and the account is considered satisfactory, having been known over 12 months.

 

Nominated supplier failed to respond to correspondence despite chasing.

 

 

SUMMARY

 

The subject was registered in New South Wales on 6 September 1994 to commence operations under the current style as a new venture.

                       

Details pertaining to the subject’s financial position were unable to be obtained for the current enquiry.

 

Enquiries in trade quarters revealed satisfaction from one supplier contacted in dealing with the subject on a credit basis.

 

                                               

                                     

 

 

 

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

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.

 

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

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions