MIRA INFORM
REPORT
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Report Date : |
11.01.2011 |
IDENTIFICATION DETAILS
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Name : |
FRUTEX AUSTRALIA PTY LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
24.11.1992 |
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Legal Form : |
Proprietary Company |
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Line of Business : |
supply of a broad spectrum of food ingredients to the major industrial manufacturers |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment
Behaviour : |
Unknown |
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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 – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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a1 |
a1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
REGISTERED NAME
FRUTEX AUSTRALIA PTY
LTD
ACN: 058 187 376
ABN: 86 058 187
376
CORPORATE SEARCH
Incorporation Date: 24 Nov 1992
Registered Office 7/30 CLARENCE Street
Charges Date Registered: 14 Sep 2007
Chargee
Name: 007 457 141 WESTPAC BANKING CO
Charge
Type: Fixed and floating charge
ASIC
Charge No: 1513138
Date
Registered: 09 Feb 2001
Chargee
Name: 007 457 141 WESTPAC BANKING CO
Charge
Type: Fixed and floating charge
ASIC
Charge No: 786479
Number of Shares Issued: 102
Paid Capital: 102
Shareholders PETER MAGIROS
Number
of Shares: 50
HELEN
MAGIROS
Number
of Shares: 50
VEECO
HOLDINGS PTY LTD
Number
of Shares: 2
Directors MAGIROS, PETER
Appointment
Date: 24 Nov 1992
Date of
Birth: 11 Apr 1940
Gender:
Male
Address:
Resident
Overseas: No
Secretary PETER MAGIROS
Appointment Date: 24 Nov 1992
BUSINESS STRUCTURE
TRADING ADDRESS 18 St Albans St
KINGSGROVE,
NSW 2208
TELEPHONE (612) 9502 6500
FACSIMILE (612) 9502 6511
BANK WESTPAC BANKING
CORPORATION
EMPLOYEES Not determined
BACKGROUND
The subject was incorporated in
OPERATIONS
The subject operates in the supply of a broad spectrum of
food ingredients to the major industrial manufacturers in
The subject carries a broad range of bakery and food ingredients, consisting of dry vine fruit, tree fruit, prunes, figs, nuts roasted & diced, coconut, seeds, fats & oils, tomato products, canned / frozen / aseptic / concentrates - fruit - blueberries, raspberries, peach, apricot, pear, dehydrated cranberries, blueberries, cherries, etc. Vegetables - frozen / dehydrated / canned - mushrooms, carrots, celery, corn, onion, garlic, etc.
Activities are conducted from premises located at the above listed trading address.
ADVERSE
A search of the 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 investigation contact with the subjects Financial Controller was unable to be established. It was advised that he is on annual leave and is not due to return until 17 January 2010.
As a result details pertaining to the subjects operating trading and financial position were unable to be obtained for the current enquiry.
Please note, this is an interim report and upon contacting the financial controller upon his return and receiving addition information this report will be updated and forwarded to youroffice.
TRADE SURVEY
During the current investigation, contact with the subject’s principals was unable to be established.
Subsequently details pertaining to the company’s suppliers were unable to be obtained and a trade survey could not be conducted.
SUMMARY
The subject was incorporated in
Details pertaining to the subjects operating trading and financial position were unable to be obtained.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.37 |
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1 |
Rs.70.38 |
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Euro |
1 |
Rs.58.93 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.