MIRA INFORM REPORT

 

 

Report Date :           

27.07.2011

 

IDENTIFICATION DETAILS

 

Name :

ABARIS PRINTING & PUBLISHING CO PTY LTD

 

 

Formerly Known As :

Abaris Printing and Publichin Co Ltd

 

 

Registered Office :

38 Park West Drive, Derrimut Vic 3030

 

 

Country :

Australia

 

 

Date of Incorporation :

13.07.1955

 

 

Legal Form :

Proprietary Company

 

 

Line of Business :

printer of labels to the Australian market

 

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 

 

ABARIS PRINTING & PUBLISHING CO PTY LTD

ACN: 004 340 685

ABN: 35 004 340 685

 

     

CORPORATE SEARCH

                                   

Incorporation State: VIC

 

Incorporation Date: 13 JUL 1955

 

Registered Office

38 PARK WEST DRIVE,

DERRIMUT

VIC 3030

 

Registered Charges: 5

 

Both Fixed &Floating

BANK OF WESTERN AUSTRALIA LTD (050494454)

1802807

Registered 18 JUN 2009

 

1666911

Registered 23 JUL 2008

Fixed

CBFC LIMITED (008519462)

 

INDUSTRY FUNDS MANAGEMENT (NOMINEES 2) PTYLTD

1557292

Registered 11 DEC 2007

Fixed

 

1380274

Registered 16 NOV 2006

Fixed

NATIONAL AUSTRALIA BANK LIMITED

 

1273340

Registered 03 MAR 2006

Fixed

NATIONAL AUSTRALIA BANK LIMITED (004044937)

 

Current Directors Total: 1

 

SIMON ANDREW BRENNAN – Appointed: 28 NOV 1997

16 HENRIETTA Street HAWTHORN, Victoria 3122

DOB: 29 AUG 1968

 

Current Secretaries Total: 1

 

SIMON ANDREW BRENNAN – Appointed: 04 MAY 1994

 

Share Structure - Classes Total: 1

 

ORD ORDINARY SHARES: 4250000 – Amount paid: $4,250,000

 

Shareholders Total: 1

 

ORD 4250000 - ABARIS (AUSTRALIA) PTY LTD

 

 

BUSINESS STRUCTURE

 

TRADING ADDRESS     38 Park West Drive

                                    DERRIMUT, VIC 3030                           

 

TELEPHONE                 (613) 9267 2677

 

FACSIMILE                   (613) 9267 2600

 

HOLDING ENTITY          ABARIS (AUSTRALIA) PTY LTD

 

BANK                           BANK OF WESTERN AUSTRALIA

                                               

EMPLOYEES                over 100           

 

 

BACKGROUND

 

The subject was incorporated in Victoria on 13 July 1955 as Abaris Printing and Publichin Co Ltd before adopting the current style on 14 July 1955.

 

The subject was established in 1964.

.

In 2006, the subject moved from a central city location to a new purpose-built manufacturing facility at Derrimut, in Melbourne’s industrial west.

 

 

OPERATIONS

 

The subject operates as a printer of labels to the market in Australia. Products include:

-          In Mould Labels (IML)

-          Folding Cartons:

-          Pressure Sensitive Labels

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 Martin Bruce, he confirmed the subjects search and operational details, however declined to provide any financial or trading 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 Bank of Western Australia, which is secured by a registered charge over certain fixed and floating assets of the company.

 

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:

 

·         (Abbe Corrugated) Purchases average $30,000 per month on 60 day terms. Payment is met in 60 to 70 days and the account is considered satisfactory having been known since 2004.

 

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

 

 

 

 

SUMMARY

 

The subject was incorporated in Victoria on 13 July 1955 as Abaris Printing and Publichin Co Ltd before adopting the current style on 14 July 1955.

 

The subject was established in 1964.

 

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 Bank of Western Australia, which is secured by a registered charge over certain fixed and floating assets of the company.

 

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.44.29

UK Pound

1

Rs.72.37

Euro

1

Rs.64.17

 

 

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.