MIRA
INFORM REPORT
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Report Date : |
14.09.2007 |
IDENTIFICATION DETAILS
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Name : |
SDS EXPORTS AND IMPORTS PTY LTD |
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Registered Office : |
3, |
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Country : |
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Date of Incorporation : |
27 October 2003 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Export distribution of scrap metal. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
REGISTERED NAME
SDS EXPORTS AND IMPORTS PTY LTD
ACN
106 816 291
ABN
47 106 816 291
INCORPORATED
27 October 2003
REGISTERED ADDRESS
3,
WERRIBEE, VIC 3030
SHARECAPITAL
$100
SHAREHOLDERS
SARAWGI, Pradip Kumar Holds
50 shares
SARAWGI, Shashi Holds
50 shares
DIRECTORS
SARAWGI, Gaurav Kr
POINT COOK, VIC 3030
SARAWHI, Pradip
Kumar
POINT COOK, VIC 3030
SECRETARY
SARAWHI, Pradip
Kumar
POINT COOK, VIC 3030
REGISTERED CHARGES
None on record
BUSINESS STRUCTURE
TRADING ADDRESS
POINT COOK,
VIC 3030
TELEPHONE (613) 9395 9821
BANK
WESTPAC BANKING CORPORATION
NATIONAL AUSTRALIA BANK
EMPLOYEES
2
BACKGROUND
The subject was incorporated in
Operations were established as a new venture in 2004.
OPERATIONS
The subject operates in the export distribution of scrap metal.
Activities are conducted from premises located at the above listed trading address.
ADVERSE
A search of the of Credit Advantage Limited on 3 September 2007 traced the following litigation listed against the subject at that date.
Default Report Listing
Account Number :
8967922110
Account Type :
Telecommunications
Member :
Telstra Credit Management
Date :
02.11.2004
Amount :
$468
Reason :
Payment default
Assoc Code :
Company’s Account
FINANCES
The subject is not required to lodge financial statements with the Australian Securities and Investments Commission.
During the current interview conducted with Director, Pradip Sarawgi, he advised that for the last financial year ended 30 June 2007, the subject recorded revenue of $400,000 which resulted in an operating profit of $300,000.
The subject operates as a trading company and subsequently carries no stock on hand.
The company operates no overdraft facilities or further external borrowings as all operations are funded through the cashflows of the company.
Further financial information pertaining to the subject was 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.
TRADE SURVEY
A trade survey on the subject traced the following accounts:
1.
Purchases average $5,000 per month on 30 day terms.
Payment is met in 30 days and the account is considered satisfactory, having
been known over 2 years.
2.
Nominated supplier failed to respond to
correspondence despite chasing.
SUMMARY
The subject was incorporated in
Operations were established as a new venture in 2004.
For the last financial year ended 30 June 2007, the subject recorded revenue of $400,000 which resulted in an operating profit of $300,000.
The company operates no overdraft facilities or further external borrowings as all operations are funded through the cashflows of the company.
Enquiries in trade quarters revealed satisfaction from one supplier contacted in dealing with the subject on a credit basis.
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. |
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%)