MIRA INFORM REPORT

 

 

Report Date :           

08.07.2011

 

IDENTIFICATION DETAILS

 

Name :

COMPOSITE MATERIALS ENGINEERING PTY LTD

 

 

Formerly Known As :

321 St P & C Nominees P/L

 

 

Registered Office :

29 Stud Rd, Bayswater, VIC 3153

 

 

Country :

Australia

 

 

Date of Incorporation :

05.06.1989

 

 

Legal Form :

Proprietary Company

 

 

Line of Business :

manufacture of composite materials for various applications industries

 

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 

 

COMPOSITE MATERIALS ENGINEERING PTY LTD

ACN: 007 128 289

ABN: 23 007 128 289

 

 

CORPORATE SEARCH

 

INCORPORATED                       5 June 1989

 

REGISTERED ADDRESS           29 stud Rd

                                                BAYSWATER, VIC 3153

 

SHARECAPITAL                        $31,032

 

SHAREHOLDERS                     WILLIAMSON HUGHES P/L       Holds 31,032 shares

 

DIRECTORS                              HUGHES, Brian Joseph

                                                2 Williamson Ave

                                                STRATHMORE, VIC 3041

                                                           

SECRETARY                            HUGHES, Brian Joseph

                                                2 Williamson Ave

                                                STRATHMORE, VIC 3041

           

REGISTERED CHARGES          Registered Charge Number     : 1925964

                                                Date Registered             : 23.12.2009

                                                Status                                       : Fixed and floating

                                                Creditor                                     : Mercedes Benz                                                                                                                                                 Financial        

                                               

                                                Registered Charge Number     : 1092866

                                                Date Registered             : 14.10.2004

                                                Status                                       : Fixed and floating

                                                Creditor                                     : Mercedes Benz                                                                                                                                                 Financial                                                        

                                                Registered Charge Number     : 94345

                                                Date Registered             : 21.04.1989

                                                Status                                       : Fixed and floating

                                                Creditor                                     : Commonwealth Bank

BUSINESS STRUCTURE

 

TRADING ADDRESS     29 stud Rd

                                    BAYSWATER, VIC 3153

 

TELEPHONE                 (612) 9729 4999

 

FACSIMILE                       (612) 9720 6870

 

BANK                           COMMONWEALTH BANK OF AUSTRALIA

                                   

EMPLOYEES                Not determined

 

           

BACKGROUND

 

The subject was incorporated in Victoria on 19 December 1988 as 321 St P & C Nominees P/L, before adopting the current style on 5 June 1989.

           

 

OPERATIONS

 

The subject operates in the manufacture of composite materials for various applications industries:

 

·         Automotive

·         Building and construction

·         Electrical and electronic

·         Food manufacturing

·         Marine

 

 

ADVERSE

                                               

A search 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 Financial Controller, Wayne Taylor he declined to confirm or provide any details pertaining to the subject unless the source of the enquiry was disclosed.

 

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

 

 

TRADE SURVEY

 

During the current investigation, details of the subjects suppliers were not provided.

 

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

 

 

SUMMARY

 

The subject was incorporated in Victoria on 19 December 1988 as 321 St P & C Nominees P/L, before adopting the current style on 5 June 1989.

           

During the current investigation, details pertaining to the subjects trading and financial position were unable to be obtained.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.42

UK Pound

1

Rs.70.95

Euro

1

Rs.63.63

 

 

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.