MIRA INFORM REPORT

 

 

 

Report Date :

22.07.2011

 

IDENTIFICATION DETAILS

 

Name :

MARBLE PLUS PTY. LIMITED

 

 

Registered Office :

5 Ross St, Seven Hills, Nsw 2147

 

 

Country :

Australia

 

 

Date of Incorporation :

19.09.1994

 

 

Legal Form :

Proprietary company

 

 

Line of Business :

import and wholesale of Marble, Granite, Bluestone, Limestone, Reconstituted Marble, Porcelain, Terracotta and 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 – 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

 

REGISTERED NAME      

 

MARBLE PLUS PTY. LIMITED

ACN: 066 497 087

ABN: 66 066 497 087

 

     

CORPORATE SEARCH

 

INCORPORATED                                 19 September 1994

 

REGISTERED ADDRESS           5 Ross St

                                                SEVEN HILLS, NSW 2147

 

SHARECAPITAL                        $99      

 

SHAREHOLDERS                     VATSELIAS, Maria                    Holds 35 shares

                                                DOUEIHI, Edward                      Holds 30 shares

                                                SOLCLAD P/L                           Holds 27 shares

                                                DPUEIHI, Lynette                       Holds 2 shares

                                                QUARTEC P/L                           Holds 2 shares 

                                                VATSELIAS, Katrina                  Holds 1 share   

                                                VATSELIAS, Nicole                   Holds 1 share

                                                MANK AUSTRALIA P/L              Holds 1 share   

 

DIRECTORS                              SCOTT, Katrina

                                                19 Remuera St

                                                WILLOUGHBY, NSW 2068

 

                                                HOGAN, Nicole

                                                47 Louisa Rd

                                                BIRCHGROVE, NSW 2041

 

                                                DOUEIHI, Edward

                                                112 Annangrove Rd

                                                ANNANGROVE, NSW 2156

Date of Birth      : 23.09.1963                 

                                                Date Appointed  : 12.12.1997

 

                                                VATSELIAS, Maria

                                                28 Fuggles Rd

                                                KENTHURST, NSW 2156

Date of Birth      : 13.03.1946                 

                                                Date Appointed  : 12.12.1997

 

SECRETARY                            VATSELIAS, Katrina

                                                10, 440 Darling St

                                                BALMAIN, NSW 2041

 

REG’D CHARGES                     Registered Charge Number     : 710121

                                                Date Registered             : 16.08.1999

                                                Status                                       : Fixed and floating

                                                Creditor                                     : National Australia Bank

 

 

BUSINESS STRUCTURE

 

TRADING ADDRESS     2 Prime drive

                                    SEVEN HILLS, NSW 3146        

 

TELEPHONE                 (612) 9674 3100

 

BRANCH                       SALISBURY, QLD

 

BANK                           NATIONAL AUSTRALIA BANK

                                                                       

EMPLOYEES                11

 

 

BACKGROUND

 

The subject was incorporated in New South Wales on 19 September 1994 under the current style.

 

Operations were founded as a new venture in 1986.                      

 

 

OPERATIONS

 

The subject operates in the import and wholesale of Marble, Granite, Bluestone, Limestone, Reconstituted Marble, Porcelain, Terracotta and Ceramic Wall and Floor Tiles.

 

The subject imports more than 500,000 s/mtrs of tiles per annum from countries such as Italy, Spain Portugal, China, Turkey, India, Indonesia and Taiwan.

 

The customer base in NSW consists of approximately 300 retail outlets.

 

The subject is one of the major suppliers for commercial projects such as the Olympic Stadium in Homebush, Bennalong Towers at the Opera House, Jamison Street Hotel, Sydney and Sail in Desert Ayres Rock.

 

Activities are conducted from leased 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 subjects Financial Controller, she advised that for the last financial year ended 30 June 2011 the subject traded profitably and recorded revenue of $8,000,000. This compares to revenue of $7,000,000 for the year ended 30 June 2010.

 

For the year ended 30 June 2009 the subject traded profitably and recorded revenue of just under $7,000,000.

 

Current assets include stock on hand of $4,000,000 and receivables of $1,500,000.

 

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

 

Current liabilities include creditors of $1,100,000.

 

An affiliated entity is advised to own the premises located at the above listed trading address.

 

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

 

 

TRADE SURVEY

 

The subject imports most requirements. A trade survey on the subject traced the following accounts:

 

1.                   (Express Clearance) Purchases average $2,000 to $20,000 per month on 30 and day terms. Payment is met to terms and the account is considered satisfactory, having been known over 15 years.

 

 

SUMMARY

 

The subject was incorporated in New South Wales on 19 September 1994 under the current style.

 

Operations were founded as a new venture in 1986.

                       

For the last financial year ended 30 June 2011 the subject traded profitably and recorded revenue of $8,000,000. This compares to revenue of $7,000,000 for the year ended 30 June 2010.

 

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

 

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

 

 Bottom of Form

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.43

UK Pound

1

Rs.71.90

Euro

1

Rs.63.41

 

 

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.