MIRA INFORM REPORT

 

 

Report Date :           

20.07.2011

 

IDENTIFICATION DETAILS

 

Name :

MARCUS B PTY LTD

 

 

Formerly Known As :

Anntine Marketing Pty Ltd

 

 

Registered Office :

2, 200 Lygon St, Carlton, Vic 3053

 

 

Country :

Australia

 

 

Date of Incorporation :

28.06.1995

 

 

Legal Form :

Proprietary Company

 

 

Line of Business :

import and distribution of leather fashion accessories and products including footwear and handbags

 

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      

 

MARCUS B PTY LTD

ACN: 070 097 488

ABN: 60 112 539 096

 

 

CORPORATE SEARCH

 

INCORPORATED                       28.06.1995

 

REGISTERED ADDRESS           2, 200 Lygon St

                                                CARLTON, VIC 3053

 

SHARECAPITAL                        $12                  

 

SHAREHOLDERS                     BLACKMORE, Christine Ann                  Holds 11 shares

                                                BLACKMORE, Marcus John                   Holds 1 share

 

DIRECTORS                              BLACKMORE, Marcus John

                                                37a Power St

                                                TOORAK, VIC 3142

                                                                                                                                   

SECRETARY                            BLACKMORE, Marcus John

                                                37a Power St

                                                TOORAK, VIC 3142

 

REGISTERED CHARGES          Registered Charge Number     : 1741784

                                                Date Registered             : 05.01.2009

                                                Status                                       : Fixed

                                                Creditor                                     : BT Securities

 

Registered Charge Number     : 1997461

                                                Date Registered             : 22.06.2010

                                                Status                                       : Fixed & floating

                                                Creditor                                     : Westpac Bank

 

 

BUSINESS STRUCTURE

 

TRADING ADDRESS     45 Cubitt St

                                    RICHMOND, VIC 3121                           

 

TELEPHONE                 (613) 8102 9333

 

BANK                           WESTPAC BANKING CORPORATION

                                               

EMPLOYEES                9

 

 

BACKGROUND

 

The subject was incorporated in Victoria on 28 June 1995 as Anntine Marketing Pty Ltd, before adopting the current style on 8 December 2004.

 

Operations commenced as a new venture in 1995.

 

 

OPERATIONS

 

The subject operates in the import and distribution of leather fashion accessories and products including footwear and handbags.

 

Clients include Myer, Country Road and Sports Girl.

 

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

 

 

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 the subject’s financial controller, she advised that for the last financial year ended 30 June 2010 the subject traded profitably and recorded revenue of $8,000,000. This compares to revenue of $7,000,000 for the previous corresponding year ended 30 June 2009.

 

The subject was expecting to record revenue in the order of $8,000,000 for the financial year just finished, ended 30 June 2011.

 

The subject carries only small quantities of stock on hand as most requirements are ordered to client specifications.

 

The subject maintains financing facilities with BT Security and the Westpac Ban which are secured by registered charges.

 

In regards to asset backing, the subjects Director is noted to own the premises located at the above listed trading address through a superannuation fund.  A property search can be conducted at your request to confirm ownership.

 

The subject is noted to operate in its capacity of the behalf of the Christine Blackmore Family Trust. Unsecured creditors are placed at maximum risk when dealing with a trustee company.

 

TRADE SURVEY

 

During the current investigation, it was advised that the subject imports all requirements. A trade survey on the subject traced the following accounts:

 

·         (Diamond Freight) Nominated supplier is yet to respond to correspondence.

·         (Pacific freight) Nominated supplier declined to provide a reference owing to company policy.

 

 

SUMMARY

 

The subject was incorporated in Victoria on 28 June 1995 as Anntine Marketing Pty Ltd, before adopting the current style on 8 December 2004.

 

For the last financial year ended 30 June 2010 the subject traded profitably and recorded revenue of $8,000,000.

 

The subject was expecting to record revenue in the order of $8,000,000 for the financial year just finished, ended 30 June 2011.

 

The subject maintains financing facilities with BT Security and the Westpac Ban which are secured by registered charges.

 

The subject is noted to operate in its capacity of the behalf of the Christine Blackmore Family Trust. Unsecured creditors are placed at maximum risk when dealing with a trustee company.

 

           


FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.59

UK Pound

1

Rs.71.62

Euro

1

Rs.62.78

 

 

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.