MIRA
INFORM REPORT
|
Report Date : |
01.04.2008 |
IDENTIFICATION
DETAILS
|
Name : |
SAFACO PTY LTD |
|
|
|
|
Registered Office : |
1019, 160 Castlereagh St
Sydney, NSW 2000 |
|
|
|
|
Country : |
Australia |
|
|
|
|
Date of Incorporation : |
05.05.1995 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Import and Wholesale of 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. |
Small |
|
Status : |
Small Company |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
REGISTERED NAME
SAFACO PTY LTD
RN: R5866314
ABN: 52 887 193 760
REGISTERED
5 May 1995
ADDRESS
1019, 160 Castlereagh St
SYDNEY, NSW 2000
PROPRIETOR
HASNANO, Qudsia
30, 136 Old
South Head Rd
BELLEVUE HILL,
NSW 2023
BUSINESS STRUCTURE
TRADING ADDRESS 1019,
160 Castlereagh St
SYDNEY,
NSW 2000
TELEPHONE (612) 9283 2443
BANK WESTPAC
BANKING CORPORATION
EMPLOYEES 1
(active Director)
BACKGROUND
The subject was incorporated in New South Wales on 5 May 1995 to
commence operations as a new venture.
Operations were founded by Proprietor Qudsia Hasnani.
OPERATIONS
The subject operates in the import and wholesale of jewellery.
Activities are conducted from leased premises located at the above listed
trading address.
ADVERSE
A search of the of Credit Advantage Limited 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 initial investigation, contact with Proprietor Qudsia Hasnani was unable to be established. Upon calling on numerous occasions the telephone was continually diverted to voice mail. Despite messages being left, no reply was received.
Upon further chasing, contact was established with Mr Hasnani. He confirmed the subjects search and operational details, however declined to release any financial information 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, it was advised that the subject import all requirements and is not a significant seeker of domestic commercial credit.
A trade survey on the subject was subsequently unable to be conducted.
SUMMARY
The subject was incorporated in New South Wales on 5 May 1995 to
commence operations as a new venture.
Operations were founded by Proprietor Qudsia Hasnani.
During the initial investigation, details pertaining to the subject’s
financial and trading position were unable to be obtained.
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%)