MIRA INFORM REPORT

 

 

Report Date :           

03.06.2011

 

IDENTIFICATION DETAILS

 

Name :

MIG PACKAGING PTY LTD

 

 

Formerly Known As :

Talmingen P/L

 

 

Registered Office :

256-258 Rex Road, Campbellfield, Vic 3061

 

 

Country :

Australia

 

 

Date of Incorporation :

18.06.1980

 

 

Legal Form :

proprietary Company

 

 

Line of Business :

manufacture of plastic packaging products

 

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      

 

MIG PACKAGING PTY LTD

ACN: 005 680 188

ABN: 66 252 536 019

 

 

CORPORATE SEARCH

 

Incorporation State: VIC

 

Incorporation Date: 18 JUN 1980

 

Registered Office

256-258 REX ROAD,

CAMPBELLFIELD

VIC 3061

 

Registered Charges: 7

 

2181170

Registered 26 MAY 2011

Fixed

NATIONAL AUSTRALIA BANK LIMITED (004044937)

 

2032376

Registered 17 AUG 2010

Fixed

NATIONAL AUSTRALIA BANK LIMITED (004044937)

 

1922024

Registered 04 FEB 2010

Fixed

NATIONAL AUSTRALIA BANK LIMITED (004044937)

 

1552185

Registered 29 NOV 2007

Fixed

NATIONAL AUSTRALIA BANK LIMITED (004044937)

 

Both Fixed & Floating

NATIONAL AUSTRALIA BANK LIMITED (004044937)

71492

Registered 10 JUL 1986

 

Both Fixed & Floating

NATIONAL AUSTRALIA BANK LIMITED (004044937)

71447

Registered 10 DEC 1984

 

Both Fixed & Floating

NATIONAL AUSTRALIA BANK LIMITED (004044937)

71437

Registered 28 MAY 1984

 

Current Directors Total: 2

 

IAN JOHN GILLIGAN – Appointed: 18 JUN 1980

6 EDWARD Street CURRIE, Tasmania 7256 Australia

DOB: 11 MAR 1948

 

MAREE GILLIGAN– Appointed:  18 JUN 1980

6 EDWARD Street CURRIE, Tasmania 7256 Australia

DOB: 01 JUN 1950

 

Current Secretaries Total: 1

 

MAREE GILLIGAN – Appointed: 18 JUN 1980

 

Share Structure - Classes Total: 1

 

ORD ORDINARY: 2 – Amount paid: $2

 

Shareholders Total: 2

 

ORD 1 - MAREE GILLIGAN 6 EDWARD STREET CURRIE TAS 7256 No

ORD 1 - IAN JOHN GILLIGAN 6 EDWARD STREET CURRIE TAS 7256 No

 

 

BUSINESS STRUCTURE

 

TRADING ADDRESS     256 to 258 Rex Rd

                                    CAMBELLFIELD, VIC 3061

 

TELEPHONE                 (613) 9306 3266

 

BANK                           Not determined 

                                               

EMPLOYEES                Not determined

 

           

BACKGROUND

 

The subject was incorporated in Victoria on 18 June 1980 as Talmingen P/L before adopting the current style on 30 November 1982.

                       

OPERATIONS

 

The subject is believed to operate in the manufacture of plastic packaging products.

 

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 Ian Gilligan he declined to release any details pertaining to the subject unless the source of the enquiry was released.

 

As a result details pertaining to the subjects operating trading and financial position were unable to be obtained for the current enquiry.

 

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

 

 

TRADE SURVEY

 

Details pertaining to the subjects suppliers were not provided for the current enquiry.

 

A trade survey on the subject was subsequently unable to be conducted.

 

 

SUMMARY

 

The subject was incorporated in Victoria on 18 June 1980 as Talmingen P/L before adopting the current style on 30 November 1982.

                       

Details pertaining to the subjects operating trading and financial position were unable to be obtained for the current enquiry.

 

The subject is noted to operate in its capacity on behalf of the Gilligan 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.44.94

UK Pound

1

Rs.73.46

Euro

1

Rs.64.58

 

 

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.