MIRA
INFORM REPORT
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Report Date : |
28.01.2011 |
IDENTIFICATION DETAILS
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Name : |
Lolliland Pty Ltd. |
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Formerly Known As : |
PYOCHROME P/L |
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Registered Office : |
5, |
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Country : |
Australia |
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Date of Incorporation : |
23.09.1998 |
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Legal Form : |
Proprietary Ltd |
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Line of Business : |
Wholesale Distribution of Confectionery And Related Products. |
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
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
|
Australia |
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
LOLLILAND PTY LTD
ACN: 003 618 808
ABN: 82 003 618 808
CORPORATE SEARCH
INCORPORATED 23
September 1998
REGISTERED ADDRESS 5, 346
Griffith Rd, LAVINGTON, NSW 2641
SHARECAPITAL $1,000
SHAREHOLDERS BAILBERG
P/L Holds 998
COSTELLOE,
Jo-Anne Maria Holds 1
COSTELLOE,
Peter James Holds 1
DIRECTORS COSTELLOE, Peter
James
Craigend
Rd
THE
OAKS, NSW 2570
SECRETARY COSTELLOE, Peter James
Craigend
Rd
THE
OAKS, NSW 2570
REGISTERED CHARGES
Registered Charge Number :
1673262
Date :
04.08.2008
Status : Fixed
and floating
Creditor : National
Australia Bank
Registered Charge Number : 1275187
Date :
14.03.200
Status : Fixed
and floating
Creditor : Westpac
Bank
Registered Charge Number : 1265446
Date :
16.02.2006
Status : Fixed
and floating
Creditor : Westpac
Bank
BUSINESS STRUCTURE
TRADING ADDRESS 75 Hartley Rd,
Smeaton Grange, Nsw 2567
TELEPHONE (612)
9607 5999
FACSIMILE (612)
9608 3112
BANK National
Australia Bank
EMPLOYEES 50 to 52
BACKGROUND
The subject was incorporated in New South Wales on 23 September 1988 as
Pyochrome P/L, before adopting the current style on 28 March 2000.
The subject was formed to take over the assets and operations of Famous
Makers.
Operations have been established for over 15 years.
DIRECTORS PROFILES
COSTELLOE,
Peter James, Director was born on25 May 1959 and was appointed to the subjects
board on 20 October 1999. He maintains an active role in the subjects
operations as Managing Director.
OPERATIONS
The subject operates in the wholesale distribution of confectionery and related
products.
Activities are conducted from leased premises located at the above
listed trading address.
ADVERSE
A search of the of Credit Advantage Limited 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 Manager Director, Peter
Costello was unable to be established. It was advised that he is overseas and
could not be contacted for the current enquiry.
During the current interview conducted with the subjects Accounts
Manager she confirmed the subjects search and operational details however was
unable to provide any financial information for the current enquiry.
Previous investigations have revealed that the subject generates revenue
of more than $10,000,000 per annum.
The subject maintains a financing facility with the National Australia
Bank and Westpac Bank, which are used to assist in funding Working capital
requirements.
Enquiries in trade quarters revealed satisfaction from suppliers
contacted in dealing with the subject on a credit basis.
TRADE SURVEY
A trade survey on the subject traced the following accounts:
(Betta Foods) subject operates a large account on 30 day terms. Payment
is met according to terms and the account is considered good having been known
since prior to 2000s.
2.(Cargo and Logistics Management) Nominated supplier is yet to respond
to correspondence despite chasing.
SUMMARY
The subject was incorporated in New South Wales on 23 September 1988 as
Pyochrome P/L, before adopting the current style on 28 March 2000.
The subject was formed to take over the assets and operations of Famous
Makers.
Current details pertaining to the subject’s financial position were
unable to be obtained for the current enquiry.
Enquiries in trade quarters revealed satisfaction from suppliers
contacted in dealing with the subject on a credit basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.57 |
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|
1 |
Rs.72.50 |
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Euro |
1 |
Rs.62.46 |
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.