MIRA INFORM REPORT

 

 

Report Date :

19.01.2011

 

IDENTIFICATION DETAILS

 

Name :

designer tile company pty ltd

 

 

Registered Office :

2 Police Road, Springvale Vic 3171

 

 

Country :

Australia

 

 

Date of Incorporation :

12.11.1987

 

 

Legal Form :

Proprietary Limited Company

 

 

Line of Business :

Import and distribution of ceramic wall and floor tiles.

 

 

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 – June 30, 2010

 

Country Name

Previous Rating

(01.04.2010)

Current Rating

(30.06.2010)

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      

 

DESIGNER TILE COMPANY PTY LTD

ACN: 006 880 708

ABN: 85 006 880 708

 

           

CORPORATE SEARCH

 

Incorporation State:     VIC

 

Incorporation Date:      12 NOV 1987

 

Registered Office

2 POLICE ROAD,

SPRINGVALE

VIC 3171

 

INDUSTRY CLASSIFICATIONS (ANZSIC 2006)

Industry Code and Description

Division: CONSTRUCTION (E)

Sub Division: Construction Services (32)

Group: Building Completion Services (324)

 

Division: MANUFACTURING (C)

Sub Division: Non-Metallic Mineral Product Manufacturing (20)

Group: Ceramic Product Manufacturing (202)

 

Division: WHOLESALE TRADE (F)

Sub Division: Basic Material Wholesaling (33)

Group: Timber and Hardware Goods Wholesaling (333)

 

Charges Total: 1

 

Both Fixed &floating

NATIONAL AUSTRALIA BANK LIMITED (004044937)

Registered 22 JUN 1995

 

Current Directors Total: 2

 

PAUL CANNIZZARO – appointed: 08 DEC 1987

72 KELLBOURNE Drive ROWVILLE, Victoria 3178

DOB: 30 JUN 1959

 

JOYCE CANNIZZARO – appointed: 08 DEC 1987

72 KELLBOURNE Drive ROWVILLE, Victoria 3178

DOB: 12 SEP 1960 Female

 

Current Secretaries Total: 1

 

JOYCE CANNIZZARO

 

Shares Issued

 

2

 

Amount Paid

$2

 

Shareholders

 

JOYCE CANNIZZARO                holds 1

 PAUL CANNIZZARO                 holds 1

 

 

BUSINESS STRUCTURE

 

TRADING ADDRESS                 904 to 906 Princes Hwy

                                                SPRINGVALE, VIC 3171                                   

 

TELEPHONE                             (613) 9562 4646

 

FACSIMILE                               (613) 9546 3366

 

BANK                                       NATIONAL AUSTRALIA BANK

                                               

EMPLOYEES                            12        

 

 

BACKGROUND

 

The subject was incorporated in Victoria on 12 November 1987 as Icerose P/L before adopting the current style on 21 December 1987.

 

Operations commenced as a new venture in 1987.

 

 

OPERATIONS

 

The subject operates in the import and distribution of ceramic wall and floor tiles.

 

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

ADVERSE

                                               

A search of the failed totrace 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 controllerhe confirmed the subjects search and operational details, however declined to provide any financial information as a matter of strict company policy.

 

Subsequently details in this regard were unable to be obtained during the current investigation.

 

Enquiries in trade quarters revealed satisfaction from one supplier contacted in dealing with the subject on a credit basis.

 

 

TRADE SURVEY

 

A trade survey on the subject traced the following accounts:

 

(Massa Imports) Purchases average $11,769 per month on 60 day terms. Payment is met in 60 days and the account is considered satisfactory having been known for 8 years.

 

Nominated supplier failed to respond to correspondence despite chasing.

 

 

SUMMARY

 

The subject was incorporated in Victoria on 12 November 1987 as Icerose P/L before adopting the current style on 21 December 1987.

 

Operations commenced as a new venture in 1987.

 

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

 

Enquiries in trade quarters revealed satisfaction from one supplier contacted in dealing with the subject on a credit basis.

                                               

                                   

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.53

UK Pound

1

Rs.72.56

Euro

1

Rs.60.62

 

 

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.