MIRA
INFORM REPORT
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Report Date : |
22.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
COTTON DREAMS PTY LTD |
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Registered Office : |
18/499 ST KILDA Road, Melbourne, Victoria 3004 |
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Country : |
Australia |
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Date of Incorporation : |
09 Jul 1999 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Import and Distribution of Towels. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
REGISTERED NAME
COTTON DREAMS PTY LTD
ACN: 088 001 067
ABN: 22 088 001 067
CORPORATE SEARCH
Incorporation
Date: 09 Jul 1999
Incorporation
State: Victoria
Registered Office 18/499
ST KILDA Road
MELBOURNE,
Victoria 3004 Australia
Charges Date
Registered: 11 Jul 2006
Chargee Name: GLORIA MALINEK
Charge Type: Fixed and floating charge
ASIC Charge No: 1324290
Date Registered: 01 Oct 2004
Chargee Name: 100 845 127 SUNCORP METWAY ADV
Charge Type: Fixed charge
ASIC Charge No: 1088309
Date Registered: 13 Jun 2003
Chargee Name: 005 357 522 AUSTRALIA AND NEW
Charge Type: Fixed and floating charge
ASIC Charge No: 951011
Number
of Shares Issued: 10
Paid
Capital: 10
Shareholders Shareholder
Name: EMJA PTY LTD
Number
of Shares: 5
Shareholder Name: IA PTY LTD
Number of Shares: 5
Directors Director
Name: AKBAR, IKRAM
Appointment Date: 09 Jul 1999
Date of Birth: 05 May 1968
Gender: Male
Address: 25 FULTON Street OAKLEIGH SOUTH, Victoria 3167
Australia
Resident Overseas: No
Secretary Secretary
Name: IKRAM AKBAR
BUSINESS STRUCTURE
TRADING ADDRESS 26
Treforrest Dr
CLAYTON,
VIC 3168
TELEPHONE (613) 9544 5599
BANK ANZ
BANKING GROUP
EMPLOYEES Not
determined
BACKGROUND
The subject was incorporated in Victoria on 9 July 1999 under the
current style.
OPERATIONS
The subject is believed to operate in the import and distribution of
towels.
Activities are conducted from premises located at the above listed
trading address.
ADVERSE
A search of the of Credit Advantage Limited on 10 July 2008 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, Ikram Akbar, he confirmed the subjects search and operational details, however declined to provide any financial or trading information as a matter of strict company policy.
Subsequently details in this regard were unable to be obtained during the current investigation
The subject maintains a financing facility with
the Suncorp Metway Bank, which is secured by a registered charge over certain
fixed and floating assets of the company.
TRADE SURVEY
During the current investigation, details pertaining to the subjects suppliers were not provided.
A trade survey on the subject was subsequently unable to be conducted.
SUMMARY
The subject was incorporated in Victoria on 9 July 1999 under the
current style.
During the current investigation, details pertaining to the
subject’s financial and trading position were unable to be obtained.
The subject maintains a financing facility with the Suncorp Metway
Bank, which is secured by a registered charge over certain fixed and floating
assets of the company.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.33 |
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UK Pound |
1 |
Rs.84.32 |
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Euro |
1 |
Rs.66.75 |
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%)