MIRA INFORM REPORT

 

 

Report Date :

29.07.2011

 

IDENTIFICATION DETAILS

 

Name :

MERCEDES WARATAH GROUP PTY LTD

 

 

Formerly Known As :

PALAZZI INVESTMENTS P/L

 

 

Registered Office :

Pitcher Partners Level 19, 15 William Street, Melbourne Vic 3000

 

 

Country :

Australia

 

 

Date of Incorporation :

17.12.1992

 

 

Legal Form :

Proprietary Limited Company

 

 

Line of Business :

Operates as a full service printing company providing design and prepress services.

 

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

 

company name & address

 

 

NAME GIVEN                            PRINTLINX PTY LTD

 

SPECIAL NOTE                         A search of failed to trace any current registered entity under the given style. Further investigations revealed that on 10 April 2011 the Printlinx  became a trading division of Mercedes Waratah Group.

 

REGISTERED NAME                 MERCEDES WARATAH GROUP PTY LTD

ACN: 058 423 037

      ABN: 93 058 423 037

 

 

CORPORATE SEARCH

 

Incorporation State:     VIC

 

Incorporation Date:      17 DEC 1992

 

Registered Office

PITCHER PARTNERS

LEVEL 19,

15 WILLIAM STREET,

MELBOURNE

VIC 3000

 

Registered Charges:    0

 

Current Directors Total: 1

 

MICHAEL TODISCO – Appointed: 09 JUN 2010

320 WILLIAMSTOWN Road PORT MELBOURNE, Victoria 3207 Australia

DOB: 09 JAN 1980

 

Current Secretaries Total: 1

 

MICHAEL TODISCO – Appointed: 18 APR 2011

320 WILLIAMSTOWN ROAD PORT MELBOURNE VIC 3207

DOB: 9 JAN 1980

 

Share Structure - Classes Total: 1

 

ORD ORDINARY: 12 – Amount paid: $12

 

Shareholders Total: 1

ORD 12 - MICHAEL TODISCO

Financial Reports Total: 0

 

BUSINESS STRUCTURE

 

TRADING ADDRESS                 706 Lorimer St

                                                PORT MELBOURNE, VIC 3207

 

TELEPHONE                             (613) 8290 0100

 

TRADING STYLES                                                                                                     PRINTLINX

                                                                                                                                                            JOHN D HARRIS & CO

BANK                                       ST GEORGE BANK      

                                               

EMPLOYEES                            40

           

 

BACKGROUND

 

The subject was incorporated in Victoria on 17 December 1992 as Palazzi Investments P/L before adopting the current style on 10 April 2011.

 

The subject commenced trading activities on 10 April 2011 following the take over of Printlinx.

 

Printlinx has an origin that dates back over 50 years within Todisco family.

 

In April 2011 the Printlinx group was restructured and split into three separate independent companies with each of the three sons of founded Michael Todisco controlling a business.

 

Printlinx, M&M Binders and Tasmania-based Print Applied Technology are now under the directorships of brothers Michael Todisco, Lenny Todisco and Peter Todisco, respectively.

 

                                                                       

OPERATIONS

 

The subject operates as a full service printing company providing design and prepress services.

 

Products include:

 

§         Catalogues

§         Prospectuses

§         Annual Reports

§         Magazines

§         Newsletters

§         Books

§         Diaries

§         Calendars

§         Manuals and Binders

§         Brochures

§         Presentation Folders

§         Stationery

 

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

 

ADVERSE

                                               

A search of records 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.

 

The subject commenced trading activities in April 2011 when it acquired the assets and operations of Printlinx.

 

During the current interview conducted with the subjects financial controller he advised that for the current financial year ending 30 June 2012 the subject expects to trade profitably and record revenue of over $10,000,000.

 

Current assets include stock on hand of $2,500,000.

 

The subject maintains no overdraft facilities as all operations are funded through the internal cashflows of the company.

 

Further details pertaining to the subjects financial position were unable to be obtained for the current enquiry.

 

 

TRADE SURVEY

 

A trade survey on the subject traced the following accounts:

 

1.                   (KW Doggett) Nominated supplier failed to respond to correspondence despite chasing.

 

2.                   (Heidelberg Graphic) Nominated supplier failed to respond to correspondence despite chasing.

 

 

SUMMARY

 

The subject was incorporated in Victoria on 17 December 1992 as Palazzi Investments P/L before adopting the current style on 10 April 2011.

 

The subject commenced trading activities on 10 April 2011 following the take over of Printlinx.

 

Printlinx has an origin that dates back over 50 years within Todisco family.

For the current financial year ending 30 June 2012 the subject expects to trade profitably and record revenue of over $10,000,000.

 

The subject maintains no overdraft facilities as all operations are funded through the internal cashflows of the company.

                                               

                                               


 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.12

UK Pound

1

Rs.72.05

Euro

1

Rs.63.33

 

 

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.