MIRA INFORM REPORT

 

 

Report Date :           

27.04.2011

 

IDENTIFICATION DETAILS

 

Name :

AXWORTH PTY LTD

 

 

Registered Office :

45-49 Dunning Avenue, Rosebery, Nsw 2018

 

 

Country :

Australia

 

 

Date of Incorporation :

07.12.1979

 

 

Legal Form :

Proprietary Company

 

 

Line of Business :

import and distribution of packaging products including cartons and boxes and point of sale equipment

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Unknown

 

 

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

 

                                                                                   

REGISTERED NAME      

 

AXWORTH PTY LTD

ACN: 001 813 716

ABN: 93 785 907 727

 

           

CORPORATE SEARCH

 

Incorporation State: NSW

 

Registered Office

45-49 DUNNING AVENUE,

ROSEBERY

NSW 2018

 

Registered Charges: 2

SUNCORP METWAY ADVANCES CORPORATION PTYLTD (100845127)

2024740

Registered 30 JUL 2010

Fixed

 

SCOTTISH PACIFIC BUSINESS FINANCE PTY. LIMITED (008636388)

Both Fixed &Floating

486170

Registered 20 APR 1995

 

Current Directors Total: 2

 

JOHN STANLEY LAW 07 DEC 1979

10 ENDEAVOUR Avenue LA PEROUSE NSW

14 SEP 1947

 

JAMES LEVERN LANGBY 07 DEC 1979

5 WARREGO Avenue SYLVANIA WATERS, NSW

5 MAR 1946

 

Share Structure - Classes Total: 1

 

A CLASS A SHARES: 3 – Amount paid: $3

 

Shareholders Total: 4

A 1 - JOHN STANLEY LAW

A 1 - JAMES LEVERN LANGBY

A 1 - JOHN STANLEY LAW

A 1 - JAMES LE-VERN LANGBY

 

BUSINESS STRUCTURE

 

TRADING ADDRESS                 45 to 47 Dunning Ave

                                                ROSEBERRY, NSW 2018                                 

 

TELEPHONE                             (612) 9662 3999

 

TRADING STYLE                       CARDBOARD CONTAINERS AUSTRALIA

                                               

ASSOCIATED ENTITIES            CARDBOARD CONTAINERS (AUST) PTY LTD

BARTLET BOXES

ULTRA PRESS

HYTEC CUTFORMERS & CUTTING

                                               

BANK                                       ST GEORGE BANK

                                               

EMPLOYEES                            3

                                                80 (Group)        

 

 

BACKGROUND

 

The subject was incorporated in New South Wales on 7 December 1979 under the current style.

 

Group operations were established in 1973.

 

 

OPERATIONS

 

The subject operates in the import and distribution of packaging products including cartons and boxes and point of sale equipment.

 

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

 

 

ADVERSE

                                               

A search of 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, 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 is noted to maintain a financing facility with Suncorp Metway Advances and Scottish Pacific Business which are secured by registered charges.

 

The subject is noted to operate in its capacity on behalf of the Cardboard Containers Trust. Unsecured creditors are placed at maximum risk when dealing with a trustee company.

 

 

TRADE SURVEY

 

A trade survey on the subject traced the following accounts:

 

1.         (Horizon Inks) Supplier advised that the account is held under the associated entity Cardboard

Containers Trust. Group purchases average $6,000 to $8,000 per month on 60 day terms. Payment is met in 60 days and the account is considered satisfactory having been known for 21 years.

 

2.         Nominated supplier failed to trace an account for the subject.

 

 

SUMMARY

 

The subject was incorporated in New South Wales on 7 December 1979 under the current style.

 

Group operations were established in 1973.

 

Details pertaining to the subject’s financial position were unable to be obtained for the current enquiry.

 

The subject is noted to operate in its capacity on behalf of the Cardboard Containers Trust. Unsecured creditors are placed at maximum risk when dealing with a trustee company.

           

           


 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.59

UK Pound

1

Rs.73.44

Euro

1

Rs.64.81

 

 

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.