MIRA
INFORM REPORT
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Report Date : |
24.07.2007 |
IDENTIFICATION DETAILS
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Name : |
LOTUS ENTERTAINMENT PTY LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
27-OCT-2006 |
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Com. Reg. No.: |
1872354 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Operates as an entertainment organization company and in the
import of granite and marble products. |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
REGISTERED NAME
LOTUS ENTERTAINMENT PTY LTD
Company Number
1872354
Company
LOTUS ENTERTAINMENT LIMITED
Incorporated
27-OCT-2006
Current Status
REGISTERED
Entity
Type
Company
Constitution
Filed
No
Annual Return Filing
Month
April
Previous Names
No Previous Names on record
Address Details
Registered
Office
Dannemora
Address for
Service
Dannemora
Directors
Name Date
Appointed:
LODHIA, Harish 27-OCT-2006
POWVALLA, Eric 27-OCT-2006
Total Number of
shares 100
Number of Shares 50
Shareholder(s) POWVALLA,
Eric
Number of Shares 50
Shareholder(s) LODHIA,
Harish
BUSINESS STRUCTURE
TRADING ADDRESS
DANNEMORA, NZ
TELEPHONE (649) 271 1140
BANK
ASB BANK
EMPLOYEES
3
BACKGROUND
The subject was incorporated in
Operations commenced in March 2007.
OPERATIONS
The subject operates as an entertainment organization company and in the import of granite and marble products.
Activities are conducted from premises located at the above listed trading address.
FINANCES
The subject is not required to lodge financial statements with the Australian Securities and Investments Commission.
During the current conducted with Director Eric Powvalla, he advised that the subject commenced operations in March 2007.
Mr Powvalla advised that for the first year of trading ending 31 March 2008, the subject expects to record revenue in the order of NZ$500,000.
Funding for the establishment of operations has been provided by the subject’s shareholders. The company maintains no overdraft facilities or further external borrowings.
Further financial information pertaining to the subject was unable to be obtained for the current enquiry,
TRADE SURVEY
During the current investigation, it was advised that the subject maintains no local suppliers.
A trade survey on the subject was subsequently unable to be conducted.
SUMMARY
The subject was incorporated in
The subject commenced operations in March 2007.
For the first year of trading ending 31 March 2008, the subject expects to record revenue in the order of NZ$500,000.
Funding for the establishment of operations has been provided by the subject’s shareholders. The company maintains no overdraft facilities or further external borrowings.
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)