MIRA
INFORM REPORT
|
Report Date : |
10.08.2007 |
IDENTIFICATION DETAILS
|
Name : |
MEGA COTTON PTY LTD |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
17.01.2007 |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Export of Raw cotton |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
New Company |
|
|
|
|
Litigation : |
Clear |
COMPANY NAME
MEGA COTTON PTY LTD
ACN: 123 500 443
ABN: 13 123 500 443
CORPORATE SEARCH
INCORPORATED 17
January 2007
REGISTERED ADDRESS 39
Albert St
MOREE,
NSW 2400
SHARECAPITAL $1,000,000
SHAREHOLDERS SPRINBOARD
PACIFIC ENTERPROSE holds 900,000
YING,
Li holds 100,000
DIRECTORS YING,
Li
Resident
overseas
SECRETARY TOMKINS,
Roger John
REGISTERED CHARGES None on
record
BUSINESS STRUCTURE
TRADING ADDRESS 68 Main Ave
BALMORAL,
QLD 4171
TELEPHONE (617)
3899 4994
MOBILE 0428
511 001
BANK NATIONAL
AUSTRALIA BANK
EMPLOYEES 2
BACKGROUND
The subject was incorporated in
OPERATIONS
The subject operates in the export of raw cotton.
Activities are conducted from premises located at the above listed
trading address.
ADVERSE
A search of the of Credit Advantage Limited on 1 August 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 Director, Roger Tomkins, he
advised that the subject was formed to export raw cotton to cotton mills in
Mr Tomkins declined to release any details pertaining to the subject’s
financial or trading position unless the source of the enquiry was disclosed.
Details in this regard were subsequently unable to be obtained for the
current enquiry.
TRADE SURVEY
During the current investigation, details pertaining to the subject’s
suppliers were not provided.
A trade survey on the subject was subsequently unable to be conducted.
SUMMARY
The subject was incorporated in
The subject was formed to export raw cotton to cotton mills in
Details pertaining to the subject’s financial and trading position were
unable to be obtained for the current enquiry.
The information contained in this report is strictly confidential and
has been compiled to assist in making a commercial credit decision. Whilst
every care has been taken in compiling this report, Complete Corporate
Reporting Pty Ltd shall not be liable for any claim, loss, injury or damage
suffered by the recording of incorrect, incomplete, inaccurate or out of date
information. This report should not be used as the
sole basis for a business decision.
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. |
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%)