MIRA INFORM REPORT

 

 

Report Date :           

03.06.2011

 

IDENTIFICATION DETAILS

 

Name :

NOWELL PTY LTD

 

 

Registered Office :

'Davies Knox Maynards' Level 4,179 Grey Street, South Brisbane Bc, Qld 4101

 

 

Country :

Australia

 

 

Date of Incorporation :

10.12..1981

 

 

Legal Form :

Proprietary Company

 

 

Line of Business :

Commercial Printers

 

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      

 

NOWELL PTY LTD

T/AS PRINT CRAFT

ACN: 010 319 356

 

           

CORPORATE SEARCH

 

Incorporation State: QLD

 

Incorporation Date: 10 DEC 1981

 

Registered Office

'DAVIES KNOX MAYNARDS' LEVEL 4,

179 GREY STREET,

SOUTH BRISBANE BC

QLD 4101

 

Registered Charges: 7

 

1466470

Registered 12 JUN 2007

Fixed

NATIONAL AUSTRALIA BANK LIMITED (004044937)

 

1033818

Registered

07 APR 2004

Fixed

NATIONAL AUSTRALIA BANK LIMITED (004044937)

 

339888

Registered 06 MAY 1992

Fixed

BANK OF WESTERN AUSTRALIA LTD (050494454)

 

331902

Registered 28 FEB 1992

Fixed

BANK OF WESTERN AUSTRALIA LTD (

 

318718

Registered 08 NOV 1991

Fixed

GE FINANCE AUSTRALASIA PTY LTD (000015485)

 

Both Fixed & Floating

NATIONAL AUSTRALIA BANK LIMITED (004044937)

307048

Registered 06 AUG 1991

 

232585

Registered 24 NOV 1989

Fixed

LEASEPAC AUSTRALIA PTY. LIMITED. (010392275)

 

Current Directors Total: 1

 

DAVID EDWARD GADSBY – Appointed: 11 DEC 1981

591 KANGAROO GULLY Road ANSTEAD, QLD

DOB: 21 OCT 1951

 

Current Secretaries Total: 1

DAVID EDWARD GADSBY – Appointed: 29 OCT 2003

591 KANGAROO GULLY ROAD ANSTEAD QLD

DOB: 21 OCT 1951

 

Share Structure - Classes Total: 1

 

ORD ORDINARY SHARES: 4 – Amount paid: $4

 

Shareholders Total: 2

 

ORD 2 - DAVID EDWARD GADSBY

ORD 2 - NANWIN PTY. LTD.

 

 

BUSINESS STRUCTURE

 

TRADING ADDRESS     23 links Ave

                                    EAGLE FARM, QLD 4009

 

POSTAL ADDRESS       PO Box 1678

                                    EAGLE FARM, QLD 4009

 

TELEPHONE                 (617) 3291 2444

 

FACSIMILE                   (617) 3291 2438

 

TRADING STYLE                                     PRINTCRAFT

 

ASSOCIATED ENTITY                  STAND & DELIVER MAIL P/L

 

BANK                           NATIONAL AUSTRALIA BANK   

                                               

EMPLOYEES                62

           

BACKGROUND

 

The subject was incorporated in Queensland on 10 December 1981 under the current style.

 

Operations were established in 1982.

 

 

OPERATIONS

 

The subject operates as commercial printers.

 

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.

 

During the current interview conducted with the subjects Financial Controller he advised that for the last financial year ended 30 June 2010 the subject traded profitably and recorded revenue of $14,500,000.

 

ON a projected basis revenue is expected to reach $16,000,000 for the current financial year ending 30 June 2011.

 

The subject is forecasting to generate revenue for the future financial year ending 30 June 2012.

 

Current assets include stock on hand of $200,000 and receivables of $2,000,000.

 

The subject maintains financing facilities with the National Australia Bank which are used to assist to assist in funding Working capital requirements.

 

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

 

The subject is advised to maintain a positive working capital position.

 

Fixed assets include plant and equipment valued at more than $9,000,000, furniture fixture and fittings of $700,000 and motor vehicles of $200,000.

 

In regards to asset backing the subjects Director is advised to own the premises located at the above listed trading address through a superannuation fund.

 

TRADE SURVEY

 

A trade survey on the subject traced the following accounts:

 

·         (Raleigh) Purchases average $30,000 per month on 90 day terms. Payment is met in 90 days and the account is considered satisfactory, having been known over 24 years.

 

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

 

 

SUMMARY

 

The subject was incorporated in Queensland on 10 December 1981 under the current style.

 

Operations were established in 1982.

 

For the last financial year ended 30 June 2010 the subject traded profitably and recorded revenue of $14,500,000.

 

On a projected basis revenue is expected to reach $16,000,000 for the current financial year ending 30 June 2011.

 

Fixed assets include plant and equipment valued at more than $9,000,000, furniture fixture and fittings of $700,000 and motor vehicles of $200,000.

 

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.