MIRA INFORM REPORT

 

 

 

Report Date :

24.09.2008

 

IDENTIFICATION DETAILS

 

Name :

OMNIA SPECILAITIES (AUSTRALIA) PTY LTD

 

 

Registered Office :

Racv Centre 2/32 Kay Street  Traralgon, Victoria 3844

 

 

Country :

Australia

 

 

Date of Incorporation :

04.11.2002

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Manufacturer of Humate and Fulvate Products

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

       

 

REGISTERED NAME      

 

OMNIA SPECILAITIES (AUSTRALIA) PTY LTD

ACN: 102 717 019

ABN: 85 102 717 019

 

 

CORPORATE SEARCh

 

Incorporation Date:                     04 Nov 2002

 

Incorporation State:                    Victoria

 

Registered Office                       RACV CENTRE 2/32 KAY Street

                                                TRARALGON, Victoria 3844 Australia

 

Charges                                    Date Registered: 13 Aug 2008

Chargee Name: 005 357 522 AUSTRALIA AND NEW

Charge Type: Fixed and floating charge

ASIC Charge No: 1679086

 

Number of Shares Issued:           625000

 

Paid Capital:                              625000

 

Shareholders                             OMNIA INTERNATIONAL (AUSTRALIA) PTY

                                                Number of Shares: 625000

 

Directors                                   HENG, SAMMY

Appointment Date: 05 Aug 2008

Date of Birth: 14 Aug 1949

Gender: Male

Address: 7 OXFORD Grove VERMONT, Victoria 3133 Australia

Resident Overseas: No

 

DE GERSIGNY, IAN BRUCE

Appointment Date: 18 Mar 2004

Date of Birth: 05 Mar 1954

Gender: Male

Address: 3 DRUMMOND Court MANGO HILL, Queensland 4509 Australia

Resident Overseas: No

 

EGGERS, DELWIN LOUIS

Appointment Date: 04 Nov 2002

Date of Birth: 02 Nov 1947

Gender: Unknown

Address:

Resident Overseas: Yes

 

CLARKE, ROBERT BURBURY

Appointment Date: 04 Nov 2002

Date of Birth: 18 Jul 1957

Gender: Unknown

Address:

Resident Overseas: Yes

Veda Advantage File Number:

 

 

BUSINESS STRUCTURE

 

TRADING ADDRESS                 Private Bag 1

                                                MORWELL, VIC

 

TELEPHONE                             (613) 5133 9118

 

FACSIMIL                                    (613) 5133 9114

 

HOLDING ENTITY                      OMNIA INTERNATIONAL (AUSTRALIA) P/L

 

ULTIMATE HOLDING

ENTITY                                   CHEMICAL HOLDINGS INTERNATIONAL

 

BANK                                     ANZ BANKING GROUP

                                               

EMPLOYEES                           15

           

 

BACKGROUND

 

The subject was incorporated in Victoria on 4 November 2002 before adopting the current style on 25 March 2003.

 

Operations were established in Australia in 1991.

 

 

OPERATIONS

 

The subject operates as a leading manufacturer of Humate and Fulvate products based in Victoria Australia. The Humates and Fulvates are made from top quality leonardite.

 

The company had been manufacturing humate soil conditioners and fertilisers in Australia since 1991, and was acquired by the Omnia group in 2003. Omnia Specialities Australia has a company philosophy based around sustainable agriculture with an emphasis on optimising the physical, chemical and biological properties of soils.

 

In recent years the product range has been expanded to include Trace elements, foliar fertilizers and Kelp products, all with an organic base.

 

The subject has its manufacturing plant and warehouse at Morwell, Victoria.

 

 

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 current interview conducted with the subjects Financial Controller, she advised that for the last financial year ended 31 March 2008, the subject traded profitably and recorded revenue of $4,000,000.

 

Current assets include stock on hand of $600,000.

 

The subject maintains a financing facility with the ANZ Bank, which is secured by a registered charge over certain fixed and floating assets of the company.

 

Enquiries in trade quarters revealed satisfaction from suppliers contacted in dealing with the subject on a credit basis.

 

 

TRADE SURVEY

 

A trade survey on the subject traced the following accounts:

 

  1. Purchases range up to $1,000 per month on 30 day terms. Payment is met in 30 days and the account is considered satisfactory, having been known over 5 years.

 

 

SUMMARY

 

The subject was incorporated in Victoria on 4 November 2002 before adopting the current style on 25 March 2003.

 

Operations were established in Australia in 1991.

                                              

For the last financial year ended 31 March 2008, the subject traded profitably and recorded revenue of $4,000,000.

 

The subject maintains a financing facility with the ANZ Bank, which is secured by a registered charge over certain fixed and floating assets of the company.

 

Enquiries in trade quarters revealed satisfaction from suppliers contacted in dealing with the subject on a credit basis.                                              

                                               

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.83

UK Pound

1

Rs.84.90

Euro

1

Rs.67.26

 

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions