MIRA INFORM REPORT

 

 

Report Date :           

02.06.2011

 

IDENTIFICATION DETAILS

 

Name :

COLNA PRINT & PAK PTY LTD

 

 

Formerly Known As :

Kensil Consultants P/L

 

 

Registered Office :

Dib & Co, 92 Elgin Street, Carlton, Vic 3053

 

 

Country :

Australia

 

 

Date of Incorporation :

21.06.1982

 

 

Legal Form :

Proprietary Company

 

 

Line of Business :

Lithographic Printing Company specialising in cardboard packaging

 

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 :

No Complaints

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      

 

COLNA PRINT & PAK PTY LTD

ACN: 006 062 782

ABN: 42 006 062 782

 

 

CORPORATE SEARCH

 

Incorporation State: VIC

 

Incorporation Date: 21 JUN 1982

 

Registered Office

DIB & CO

92 ELGIN STREET,

CARLTON

VIC 3053

 

Registered Charges: 2

 

1225497

Registered 27 OCT 2005

Fixed

NATIONAL AUSTRALIA BANK LIMITED (004044937)

 

577363

Registered 04 FEB 1997

Both Fixed & Floating

NATIONAL AUSTRALIA BANK LIMITED (004044937)

 

Current Directors Total: 1

 

DAVID ALAN HENRY – Appointed: 01 JUL 1994

8 TUXEN Street BALWYN NORTH, Victoria 3104

DOB: 03 MAY 1948

 

Current Secretaries Total: 1

 

DAVID ALAN HENRY – Appointed: 01 JUL 1994

 

Share Structure - Classes Total: 1

 

ORD ORDINARY SHARES: 2398683 – Amount paid: $2,398,683

 

Shareholders Total: 1

 

ORD 2398683 - THE HENRY CORPORATION PTY LTD

 

BUSINESS STRUCTURE

 

TRADING ADDRESS     17 to 21 Freeman St

                                    CAMPBELLFIELD, VIC 3061

 

TELEPHONE                 (613) 9357 8922

 

FACSIMILE                   (613) 9357 8992

 

HOLDING ENTITY                     THE HENRY CORPORATION P/L

 

BANK                           NATIONAL AUSTRALIA BANK   

                                               

EMPLOYEES                22        

 

 

BACKGROUND

 

The subject was incorporated in Victoria on 21 June 1982 as Kensil Consultants P/L before adopting the current style on 8 March 1989.

 

Operations were established in 1955.

 

                                                                       

OPERATIONS

 

The subject operates as a lithographic printing company specialising in cardboard packaging. The subject supplies to industries including confectionery, hardware, cosmetic, automotive, wine and beer, food and stationery

 

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 the subjects Director David Henry he advised that for the last financial year ended 30 June 2010 the subject traded profitably and recorded revenue of $8,000,000.

 

A slight decline in operations is forecast for the current financial year ending 30 June 2011.

 

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

 

The subject maintains an overdraft facility with the National Australia Bank. This facility is not being used as all operations are able to be funded through the internal cashflows of the company.

 

Current liabilities include creditors of $600,000.

 

Fixed Assets include plant and equipment with an estimated value of $2,000,000.

 

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

 

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:

 

(Gumming and Varnishing) Purchases average $5,000 per month on 30 day terms. Payment is met in  days and the account is considered satisfactory, having been known over 5 years.

 

(Doggetts) Nominated supplier failed to respond to correspondence despite chasing.

 

 

SUMMARY

 

The subject was incorporated in Victoria on 21 June 1982 as Kensil Consultants P/L before adopting the current style on 8 March 1989.

 

Operations were established in 1955.

                       

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

 

A slight decline in operations is forecast for the current financial year ending 30 June 2011.

 

The subject maintains an overdraft facility with the National Australia Bank. This facility is not being used as all operations are able to be funded through the internal cashflows 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.44.89

UK Pound

1

Rs.73.85

Euro

1

Rs.64.76

 

 

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.