MIRA INFORM REPORT

 

 

Report Date :           

08.07.2011

 

IDENTIFICATION DETAILS

 

Name :

THE PAPER CUP COMPANY PTY LTD

 

 

Registered Office :

44 Churchill Avenue, Tullamarine Vic 3043

 

 

Country :

Australia

 

 

Date of Incorporation :

15.09.2004

 

 

Legal Form :

Proprietary Company

 

 

Line of Business :

manufacture of paper cups

 

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      

 

THE PAPER CUP COMPANY PTY LTD

ACN: 110 975 696

ABN: 45 110 975 696

 

 

CORPORATE SEARCH

 

Incorporation State: VIC

 

Incorporation Date: 15 SEP 2004

 

Registered Office

44 CHURCHILL AVENUE,

TULLAMARINE

VIC 3043

 

Registered Charges: 3

 

1637080

Registered 20 MAY 2008

Fixed

WESTPAC BANKING CORPORATION (007457141)

 

1485606

 Registered 23 JUL 2007

Fixed

WESTPAC BANKING CORPORATION (007457141)

 

Both Fixed & Floating

WESTPAC BANKING CORPORATION (007457141)

1485608

Registered 23 JUL 2007

 

Current Directors Total: 1

 

JOHN HADDAD – Appointed: 15 SEP 2004

44 CHURCHILL Avenue TULLAMARINE, Victoria

DOB: 11 JAN 1957

 

Current Secretaries Total: 1

 

JOHN HADDAD – Appointed: 15 SEP 2004

 

Share Structure - Classes Total: 1

 

ORD ORDINARY SHARES: 150 – Amount paid: $150

 

Shareholders Total: 2

ORD 100 - ABDULAZIZ SULAIMAN MOHAMED AL AFALIQ

ORD 50 - JOHN HADDAD

 

 

BUSINESS STRUCTURE

 

TRADING ADDRESS                 Factory 3

                                                8C Adina Ct

                                                TULLAMARINE, VIC 3043

 

TELEPHONE                             (613) 9335 1528

 

BANK                                       WESTPAC BANKING CORPORATION   

                                               

EMPLOYEES                            14

 

           

BACKGROUND

 

The subject was incorporated in Victoria on 15 September 2004 to commence operations under the current style as a new venture.

          

OPERATIONS

 

The subject operates in the manufacture of paper cups.

 

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

 

 

ADVERSE

                                               

A search of failed to trace any adverse findings 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 Director John Haddad, he 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.

 

 The subject maintains a financing facility with the Westpac Bank, which is secured by a registered charge over certain fixed and floating assets of the company.

 

 

TRADE SURVEY

 

A trade survey on the subject traced the following accounts:

 

·         (Shamrock Poly) Supplier advised that the subject has only traded on three occasions since opening the account in September 2010. Purchases average $1,600 on 30 day terms. Payment is met in 30 days and the account is considered satisfactory.

 

·         (Flint) Nominated supplier failed to respond to correspondence despite chasing.

 

 

SUMMARY

 

The subject was incorporated in Victoria on 15 September 2004 to commence operations under the current style as a new venture.

                       

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

 

The subject maintains a financing facility with the Westpac Bank, which is secured by a registered charge over certain fixed and floating assets of the company.

 

                                               

                                               

 

 

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.