MIRA
INFORM REPORT
|
Report Date : |
03.07.2007 |
IDENTIFICATION DETAILS
|
Name : |
SHARMA BROS. PTY LTD |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
22 June 1984 |
|
|
|
|
Legal Form : |
Proprietary Company, Limited By Shares |
|
|
|
|
Line of Business : |
Mining and
Marketing of Metal Ores, Concentrates specialising in Cobalt, Copper, Nickel
& Zinc. |
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 : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
REGISTERED NAME: |
SHARMA BROS. PTY
LTD |
|
|
|
|
AUSTRALIAN
COMPANY NUMBER: |
006 293 072 |
|
|
|
|
AUSTRALIAN
BUSINESS NUMBER: |
Not on data base
|
|
|
|
|
OPERATING
ADDRESS: |
PRAHRAN, VIC
3181 |
|
|
|
|
REGISTERED
ADDRESS: |
ST KILDA, VIC
3182 |
|
|
|
|
OTHER TRADING
NAMES: |
Atlas Handbag Co |
|
|
|
|
TELEPHONE
NUMBER: |
(03) 9529 4044 |
|
|
|
|
FAX NUMBER: |
(03) 9525 2971 |
|
|
|
|
WEB SITE
ADDRESS: |
www.sharmabros.com.au |
|
|
|
|
DATE OF
INCORPORATION: |
22 June 1984 – Incorporated in |
|
|
|
|
CHANGE OF NAME: |
1 October 1984 - To present name. |
|
|
|
|
PAID CAPITAL: |
$12 in $1 shares. |
|
|
|
|
DIRECTORS: |
SURAJ KANT
SHARMA CAULFIELD, VIC 3162 IRENE SHARMA ELSTERNWICK, VIC 3185 |
|
|
|
|
SHAREHOLDERS: |
Refer HISTORY |
|
|
|
|
SECRETARY: |
SURAJ KANT
SHARMA |
|
|
|
|
AUDITORS: |
Not shown |
|
|
|
|
REGISTERED
CHARGES: |
Refer REGISTERED CHARGES |
|
|
|
|
PAYMENTS: |
Refer TRADING |
|
|
|
|
LEGAL ACTIONS /
DEFAULTS: |
Nil |
|
|
|
|
EMPLOYEES: |
Not ascertained |
PARENT COMPANY
NIL
ACTIVITIES
SHARMA BROS PTY LTD IS AN INTERNATIONAL TRADING GROUP IN THE
MINING AND MARKETING OF METAL ORES, CONCENTRATES SPECIALISING IN COBALT,
COPPER, NICKEL & ZINC.
OTHER ITEMS
EXPORTED FROM
TALLOW,
INEDIBLE VEGETABLE OILS,
WET BLUE HIDES
UNVULANISED
RUBBER SCRAP, USED BUTYL TUBES
STEEL MELTING
AND REROLLABLE SCRAP
SHARMA BROS.
PTY LTD HAS BEEN ESTABLISHED SINCE 1984 WITH HEAD OFFICE IN
THE SUBJECT’S
AIM IS TO ENSURE THAT IT PROVIDES MATERIALS TO AGREED SPECIFICATIONS.
THE COMPANY
CURRENTLY OPERATES A COPPER MINE IN
Products :
Copper
Concentrate
Sulphate
Carbonate
Oxide
Matte
Concentrate
Hydrate
Oxide
Nickel
Concentrate
Matte
Scrap Steel
HMS- Heavy
Melting Steel
LMS - Light
Melting Steel
Tin Bundles
Misc
Scrap Butyl Tubes
Unvulcanised
scrap compounds
Operations are conducted from premises situated at the heading address.
HISTORY
The subject was incorporated in
Australian Company Number: 006 293 072.
Paid capital $12 in 12 shares paid to $1 each.
Shares are held by:
NALIN KANT SHARMA 6
SURAJ KANT SHARMA 6
The above information is in accordance with the last Company Statement
Annual lodged with the Australian Securities and Investments Commission and
compiled at report date.
Operations of the company were commenced in 1984.
DIRECTORS
SURAJ KANT SHARMA was born on 15
September 1942 and was appointed to the board of directors on 26 June 1984. He
is fully active in the day to day operations of the company. He is also the
Company Secretary, having been appointed to this position on 26 June 1984.
IRENE SHARMA was born on 14
April 1948 and was appointed to the board of directors on 12 May 1998.
BANK
HSBC BANK
The bank holds a Registered Charge over company assets. Please refer to
the REGISTERED CHARGE section for
details.
TRADING
Trade references in relation to the subject have not been obtained.
FINANCE
Due to amendments to the Corporations Law by
the First Corporate Law Simplification Act 1995, subject is not required to
lodge financial statements with the Australian Securities & Investment
Commission.
disclose the following inquiries in relation
to finance applications:
On 5 August 2004 to American Express New Accounts NSW for Credit Card.
On 22 December 2003 to Esanda Dealership Vic for Hire Purchase for an
amount of $32,839.
On 20 December 2003 to Esanda Dealership Vic for Hire Purchase for an
amount of $32,246.
Nothing further has been recorded.
REGISTERED CHARGES
The following Registered Charge has been recorded over the subject’s
assets:
On 21 June 2005, Fixed and Floating Charge to HSBC Bank
RECORDED ACTIONS
Nothing of an adverse nature has been recorded against the subject.
INVESTIGATION
Attempts have been made to contact the Financial Controller in June 2007,
however on each occasion it has been advised he is unavailable for Interview.
Messages have been left requesting he contact this office, however to
date a reply has not been received.
Should additional information come to hand this will be sent to you as
an addendum to this report.
Enquiries made with trade sources failed to trace any additional
information in relation to the subject.
A Land Titles Search has not been undertaken to ascertain what land, if
any, stands in the subject’s name. This
can be undertaken on request.
CONCLUSION
The subject was incorporated in
Paid capital $12 in 12 shares paid to $1 each.
The subject is an international trading company in the mining industry.
Full details in
relation to the company have not been ascertained. If dealing with the subject
on a credit basis, caution would be recommended until further details are
obtained or the account is proven. However, the company would appear to be an
established concern.
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%)