MIRA INFORM REPORT

 

 

Report Date :

22.08.2011

 

IDENTIFICATION DETAILS

 

Name :

STOCKMAN PAPER MERCHANTS

 

 

Registered Office :

72 Grey St Bassendean, Wa 6054

 

 

Country :

Australia

 

 

Date of Incorporation :

16.04.1991

 

 

Legal Form :

Proprietary Limited Company

 

 

Line of Business :

Paper merchants.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Moderate

 

 

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 – 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

 

Company name                                                                      

 

STOCKMAN PAPER MERCHANTS

RN: 0033824T

ABN: 72 770 426 173

 

 

CORPORATE SEARCH

 

REGISTERED                           16 April 1991

 

ADDRESS                                12A Harold St

                                                DIANELLA, WA 6059

 

PROPRIETORS             GLS ENTERPRISES PTY LTD

                                                BATHURST PTY LTD

                       

REGISTERED NAME                 GLS ENTERPRISES PTY LTD

ACN: 085 476 599

           

 

CORPORATE SEARCH

 

INCORPORATED                       7 December 1998

 

REGISTERED ADDRESS           72 Grey St

                                                BASSENDEAN, WA 6054

 

SHARECAPITAL                        $1                    

 

SHAREHOLDERS                     SIMS, Glen Leonard       Holds 1 share

 

DIRECTORS                              SIMS, Glen Leonard

                                                12 Yeeda St

RIVERTON WA 6148

                                                                                               

SECRETARY                            SIMS, Glen Leonard

                                                12 Yeeda St

RIVERTON WA 6148

 

REGISTERED CHARGES          Registered Charge Number         : 2044599

                                                Date                                                     : 09.09.2010

                                                Status                                                   : Fixed and floating

Creditor                                     : National Australia Bank

 

Registered Charge Number         : 700875

                                                Date                                                     : 24.06.1999

                                                Status                                                   : Fixed and floating

Creditor                                     : National Australia Bank

 

REGISTERED NAME                 BATHURST PTY LTD

ACN: 057 689 460

             

 

CORPORATE SEARCH

 

INCORPORATED                       8 October 1992

 

REGISTERED ADDRESS           72 Grey St

                                                BASSENDEAN, WA 6054

 

SHARECAPITAL                        $2                    

 

SHAREHOLDERS                     SAMPEY, Bruce Ronald Holds 1 share

                                                ROSE, Douglas Albert    Holds 1 share

           

DIRECTORS                              ROSE, Douglas Albert

                                                107 Clement Dr

KARRINYUP, WA 6018                                                             

 

SECRETARY                            ROSE, Douglas Albert

107 Clement Dr

KARRINYUP, WA 6018

 

REGISTERED CHARGES          Registered Charge Number                     : 2044607

                                                Date                                                     : 09.09.2010

                                                Status                                                   : Fixed and floating

Creditor                                                 : National Australia Bank

 

Registered Charge                     Number                                                 : 444581

                                                Date                                                     : 23.06.1994

                                                Status                                                   : Fixed and floating

Creditor                                                 : National Australia Bank

           

 

BUSINESS STRUCTURE

 

TRADING ADDRESS                 72 Grey St

                                                BASSENDEAN, WA 6054

                       

TELEPHONE                             (618) 9271 1700

 

FACSIMILE                               (618) 9271 2336

 

BANK                                       NATIONAL AUSTRALIA BANK

                                                Branch: Osborne Park, WA 6017

                                               

EMPLOYEES                            9

           

 

BACKGROUND

 

The subject was incorporated in Western Australia on 16 April 1991 as a new venture.

 

GLS Enterprises P/L was incorporated in Western Australia on 7 December 1998 under the current style.

 

 

OPERATIONS

 

The subject operates as paper merchants.

 

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

 

 

ADVERSE

                                               

A search of on 15 August 2011 failed to trace any litigation listed against the subject at that date.

 

A search of records on 15 August 2011 failed to trace any litigation listed against Proprietor GLS Enterprises P/L at that date.

 

A search of records on 15 August 2011 failed to trace any litigation listed against Proprietor Bathurst P/L 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 Director Doug Rose, he declined to confirm or provide any details pertaining to the subject unless the source of the enquiry was disclosed.

 

Subsequently information pertaining to the subjects trading and financial position were unable to b obtained for the current enquiry.

 

 

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 Western Australia on 16 April 1991 as a new venture.

 

GLS Enterprises P/L was incorporated in Western Australia on 7 December 1998 under the current style.

 

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

 

 

                                                           

                                               

                                               

           


 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.61

UK Pound

1

Rs.75.32

Euro

1

Rs.65.68

 

 

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.