MIRA INFORM REPORT

 

 

Report Date :

05.04.2011

 

IDENTIFICATION DETAILS

 

Name :

JOHN PAPAS TRAILERS (AUSTRALIA) PTY LTD

 

 

Registered Office :

12/398 Great Eastern Highway Ascot, Western Australia 6104

 

 

Country :

Australia

 

 

Date of Incorporation :

05 Nov 2007

 

 

Legal Form :

Proprietary Limited Company

 

 

Line of Business :

Manufacture and distribution of a range of trailers and related parts.

 

 

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 :

Usually Correct

 

 

Litigation :

Clear

 

NOTES :

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – December 31, 2010

 

Country Name

Previous Rating

(30.09.2010)

Current Rating

(31.12.2010)

Australia

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

CORPORATE REPORT  

 

NAME GIVEN                JOHN PAPAS TRAILERS PTY LTD

 

SPECIAL NOTE             During the current invest investigation it was revealed that the correct legal entity is John Papas Trailers (Australia) Pty Ltd

 

REGISTERED NAME                

JOHN PAPAS TRAILERS (AUSTRALIA) PTY LTD

ACN: 128 332 543

ABN: 111 128 332

 

 

CORPORATE SEARCH

 

Incorporation Date:                     05 Nov 2007

 

Incorporation State:                    Western Australia

 

Registered Office                       12/398 GREAT EASTERN Highway

                                                ASCOT, Western Australia 6104 Australia

 

Charges                                    Date Registered: 21 Aug 2008

Chargee Name: 007 457 141 WESTPAC BANKING CO

Charge Type: Fixed and floating charge

ASIC Charge No: 1682119

 

Number of Shares Issued:           100

 

Paid Capital:                              100

 

Shareholders                             JOHN PAPAS INVESTMENTS PTY LTD

                                                Number of Shares: 100

 

Directors                                   PAPAS, BRADLEY GLEN

Appointment Date: 05 Nov 2007

Date of Birth: 10 Jul 1962

Gender: Male

Address: 15 WALPOLE Street ST JAMES, Western Australia 6102 Australia

Resident Overseas: No

 

PAPAS, JEFFERY JOHN

Appointment Date: 05 Nov 2007

Date of Birth: 06 Apr 1961

Gender: Male

Address: 50 GEDDES Street VICTORIA PARK, Western Australia 6100 Australia

Resident Overseas: No

 

 

Secretary                                  JEFFERY JOHN PAPAS

                                                Appointment Date: 05 Nov 2007

           

 

BUSINESS STRUCTURE

 

TRADING ADDRESS                 28 to 30 Tennant St

                                                WELSHPOOL, WA 6104

 

TELEPHONE                             (618) 9362 3773

 

FACSIMILE                               (618) 9472 3796

 

HOLDING ENTITY                      JOHN PAPAS INVESTMENTS P/L

 

BRANCH                                   OSBORNE PARK, WA

 

BANK                                       WESTPAC BANKING CORPORATION   

                                               

EMPLOYEES                            20

           

 

BACKGROUND

 

The subject was incorporated in Western Australia on 5 November 2007 under the current style.

 

The subject was formed to restructure the assets and operations of an existing business that has been established for 46 years.

           

           

OPERATIONS

 

The subject operates in the manufacture and distribution of a range of trailers and related parts.

 

Activities are conducted from premises located at the above listed trading address.

 

 

ADVERSE

                                               

A search of on 28 March 2011 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 Jeff Papas, he confirmed the subjects search and operational details, however declined to provide any financial information.

 

Subsequently details in this regard were unable to be obtained during the current investigation.

 

Previous investigations have revealed that for the financial year ended 30 June 2009 the subject traded profitably and recorded revenue of $8,000,000.

 

The subject maintains an overdraft facility with the Westpac Bank which is secured by a registered charge and is used to assist in funding Working capital requirements.

 

In regards to asset backing, the subject is noted to own the premises located at the above listed trading address. A property search can be conducted at your request to confirm ownership.

 

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:

(Murray George Enterprises) Purchases average $20,000 per month on 30 day terms. Payment is met in 30 days and the account is considered satisfactory, having been known over 4 years.

(Martin Trailer Parts) Nominated supplier failed to respond to correspondence despite chasing.

 

 

SUMMARY

 

The subject was incorporated in Western Australia on 5 November 2007 under the current style.

 

The subject was formed to restructure the assets and operations of an existing business that has been established for 46 years.

 

Current financial details pertaining to the subject were unable to be obtained for the current enquiry.

                       

Previous investigations have revealed that for the financial year ended 30 June 2009 the subject traded profitably and recorded revenue of $8,000,000.

 

In regards to asset backing, the subject is noted to own the premises located at the above listed trading address.

 

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.44.65

UK Pound

1

Rs.71.93

Euro

1

Rs.63.24

 

 

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

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

--

NB

                                       New Business

 

--

 

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

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.