MIRA INFORM REPORT

 

 

Report Date :           

27.04.2011

 

IDENTIFICATION DETAILS

 

Name :

ZACS PACKS PTY LTD

 

 

Registered Office :

5 Williamson Road, Ingleburn, Nsw 2565

 

 

Country :

Australia

 

 

Financials (as on) :

30.06.2009

 

 

Date of Incorporation :

24.07.1992

 

 

Legal Form :

Proprietary Company

 

 

Line of Business :

manufacturing of packaging products including cartons, boxes, board and point of sale 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

 

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      

 

ZACS PACKS PTY LTD

ACN: 056 928 495

ABN: 51 056 928 495

 

     

CORPORATE SEARCH

 

Incorporation State: NSW

 

Incorporation Date: 24 JUL 1992

 

Registered Office

5 WILLIAMSON ROAD,

INGLEBURN

NSW 2565

 

Registered Charges: 2

2155713

Registered 04 APR 2011

Fixed

VOLVO FINANCE AUSTRALIA PTY LIMITED (071774233)

 

693146

Registered 29 APR 1999

Both Fixed & Floating

NATIONAL AUSTRALIA BANK LIMITED (004044937)

 

Current Directors Total: 2

 

JOHN ANTHONY ZACAROPOU – Appointed: 27 JUL 1992

98 FOCUS APPARTMENTS 114 THE ESPLANADE SURFERS PARADISE, Queensland 4217

DOB: 13 AUG 1953

 

EDWARD ALEXANDER ZAC – Appointed: 27 JUL 1992

56 LYNWOOD Street BLAKEHURST, New South Wales

DOB: 23 SEP 1923

 

Current Secretaries Total: 1

JOHN ANTHONY ZACAROPOULOS – Appointed:27 JUL 1992

 

 

Share Structure - Classes Total: 2

A CLASS A SHARES: 540540 – amount paid: $540,540

B CLASS B SHARES: 460460 – amount paid:$460,460

 

Shareholders Total: 2

 

B 460460 - JOBEMA INVESTMENTS PTY. LIMITED

 

A 540540 -JOBEMA INVESTMENTS PTY. LIMITED

 

 

BUSINESS STRUCTURE

 

TRADING ADDRESS                 5 Williamson Rd

                                                INGLEBURN, NSW 2565                                   

 

TELEPHONE                             (612) 9829 3900

 

FACSIMILE                               (612)

 

TRADING STYLE                       ZAC PAC

 

BANK                                       NATIONAL AUSTRALIA BANK

                                               

EMPLOYEES                            80        

 

 

BACKGROUND

 

The subject was incorporated in New South Wales on 24 July 1992 to commence operations under the current style.

 

Operations were established in August 1992.

 

 

OPERATIONS

 

The subject operates in the manufacturing of packaging products including cartons, boxes, board and point of sale products. 

 

The subject operates a factory and offices that occupy an area over 1100 square meters.

 

The subject’s plant and equipment include a corrugator, three flexo folder gluers, one flexo rotary die-cutter, four flatbed die-cutters, a litho printer, a laminator, a window machine three gluers and two slitters.

 

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

 

During the current interview conducted with the subjects Financial Controller, he declined to release any details pertaining to the subject’s financial position unless the source of the enquiry was disclosed.

 

From the subjects most recently lodged financial statements, it is noted that for the financial year ended 30 June 2009 the subject recorded revenue of $18,582,496, which resulted in an operating profit before tax of $1,306,608 and an operating profit after tax of $1,002,806 representing a Net Profit Margin of 5.4%.

 

Below is a summary of the subject’s income results for the past two financial years.

 

 

Zac’s Packs Pty Limited

 

 

As at 30 June 2009

As at 30 June 2008

Change (%)

Revenue

$18,582,496

$18,283,273

1.64%

Profit b/tax

$1,306,608

$1,090,321

19.84%

Profit a/tax

$1,002,806

$723,336

38.64%

Net Profit Margin

5.40%

3.96%

1.44%

 

During fiscal 2009, the subject recorded Net Cashflows from operating activities totalling $1,986,866.

 

As at 30 June 2009 the subject recorded total current assets of $6,652,468. They included cash of $559,472 and receivables of $4,755,992.

 

Current liabilities at the same date totalled $2,560,684 and included payables of $1,696,289 and provisions of $747,994.

 

As at 30 June 2009 the subject recorded Working Capital of $4,091,784 and a current ratio of 2.6 to 1 indicating strong liquidity levels.

 

Net Assets totalled $8,743,854 as at 30 June 2009. At this date, the subject further recorded a Debt to Equity ratio of 0.55 to 1.

 

 

Zac's Packs Pty Limited

 

 

As at 30 June 2009

As at 30 June 2008

Change (%)

Revenue

$18,582,496

$18,283,273

1.64%

Profit b/tax

$1,306,608

$1,090,321

19.84%

Profit a/tax

$1,002,806

$723,336

38.64%

Net Profit Margin

5.40%

3.96%

1.44%

Current Assets

$6,652,468

$6,460,906

2.96%

Non-Current Assets

$6,894,900

$6,615,142

4.23%

Total Assets

$13,547,368

$13,076,048

3.60%

Current Liabilities

$2,560,684

$2,408,117

6.34%

Non-Current Liabilities

$2,242,830

$2,926,884

-23.37%

Total Liabilities

$4,803,514

$5,335,001

-9.96%

Net Assets

$8,743,854

$7,741,047

12.95%

Working Capital

$4,091,784

$4,052,789

0.96%

Current Ratio

2.6

2.68

-3.17%

Debt to Equity

0.55

0.69

-20.29%

 

 

TRADE SURVEY

 

A trade survey on the subject traced the following accounts:

 

1.         (Australian Paper) Nominated supplier declined to provide a reference owing to company policy.

 

2.         (Amcor cardboard) Nominated supplier failed to respond to correspondence despite chasing.

 

 

SUMMARY

 

The subject was incorporated in New South Wales on 24 July 1992 to commence operations under the current style.

 

Operations were established in August 1992.

 

for the financial year ended 30 June 2009 the subject recorded revenue of $18,582,496, which resulted in an operating profit before tax of $1,306,608 and an operating profit after tax of $1,002,806 representing a Net Profit Margin of 5.4%.

 

During fiscal 2009, the subject recorded Net Cashflows from operating activities totalling $1,986,866.

 

As at 30 June 2009 the subject recorded Working Capital of $4,091,784 and a current ratio of 2.6 to 1 indicating strong liquidity levels.

 

Net Assets totalled $8,743,854 as at 30 June 2009.

 

                                               


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.