MIRA INFORM REPORT

 

 

Report Date :           

17.08.2011

 

IDENTIFICATION DETAILS

 

Name :

NEET FEET PTY LTD

 

 

Registered Office :

74-80 Stubbs Street, Kensington, Vic 3031

 

 

Country :

Australia

 

 

Date of Incorporation :

14.06.1995

 

 

Legal Form :

Proprietary Company

 

 

Line of Business :

import and distribution of footwear specialising in slippers

 

 

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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

Australia

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 Bottom of Form

REGISTERED NAME      

 

NEET FEET PTY LTD

ACN: 069 860 055

ABN:99 289 952 438

 

           

CORPORATE SEARCH

 

Incorporation State: VIC

 

Incorporation Date: 14 JUN 1995

 

Registered Office

74-80 STUBBS STREET,

KENSINGTON

VIC 3031

 

Registered Charges: 1

Both Fixed &Floating

COMMONWEALTH BANK OF AUSTRALIA (123123124)

730569

Registered 30 DEC 1999

 

Current Directors Total: 2

WALTER JOSEPH RIPANI – Appointed: 26 MAR 1996

261 BEACONSFIELD Parade MIDDLE PARK, Victoria

DOB: 09 JUN 1962

 

ALEX CONSTANCE RIPANI – Appointed: 14 JUN 1995

67A PARK Street MOONEE PONDS, Victoria 3039

DOB: 30 JUN 1968

 

Current Secretaries Total: 1

 

ALEX CONSTANCE RIPANI – Appointed: 14 JUN 1995

 

Share Structure - Classes Total: 1

 

ORD ORDINARY SHARES: 101 – Amount paid: $101

 

Shareholders Total: 2

 

ORD 50 - WALTER JOSEPH RIPANI

ORD 51 - ALEX CONSTANCE RIPANI

 

BUSINESS STRUCTURE

 

TRADING ADDRESS     74 TO 80 Stubbs St

                                    KENSINGTON, VIC 3031                                   

 

TELEPHONE                 (613) 9376 5511

 

FACSIMILE                   (613) 9376 5533

 

BANK                           COMMONWEALTH BANK OF AUSTRALIA

                                               

EMPLOYEES                Not determined 

 

 

BACKGROUND

 

The subject was incorporated in Victoria on 14 June 1995 to commence operations under the current style as a new venture.

 

 

OPERATIONS

 

The subject operates in the import and distribution of footwear specialising in slippers.

 

The subject distributes in excess of 6 million pairs of shoes per annum in the Australian and New Zealand markets.

Clients include David Jones, Myer, Target and Kmart.

 

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

 

 

ADVERSE

 

A search of 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 subject’s financial controller she declined to confirm or provide any details pertaining to the subject unless the source of the enquiry was disclosed.

 

As a result, details pertaining to the subjects operating trading and financial position were unable to be obtained for the current enquiry.

 

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

 

 

TRADE SURVEY

 

Details pertaining to the subjects suppliers were not provided for the current enquiry.

 

A trade survey on the subject was subsequently unable to be conducted.

 

 

SUMMARY

 

The subject was incorporated in Victoria on 14 June 1995 to commence operations under the current style as a new venture.

 

Details pertaining to the subjects operating trading and financial position were unable to be obtained for the current enquiry.

 

The subject is noted to operate in its capacity on behalf of the Ripani family 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.45.25

UK Pound

1

Rs.73.88

Euro

1

Rs.65.06

 

 

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.