MIRA
INFORM REPORT
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Report Date : |
07.06.2011 |
IDENTIFICATION DETAILS
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Name : |
ASR INVESTMENTS AUSTRALIA PTY LTD |
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Registered Office : |
B M & Y 32 Sholl Street, Mandurah Wa 6210 |
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Country : |
Australia |
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Date of Incorporation : |
19.01.2011 |
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Legal Form : |
Proprietary Limited Company |
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Line of Business : |
Import, retail and wholesale of wall and floor tiles and accessories. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Australia |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name
ASR INVESTMENTS
AUSTRALIA PTY LTD
ACN: 148 871 596
CORPORATE SEARCH
Incorporation State: WA
Incorporation Date: 19 JAN 2011
Registered Office
B M & Y
32 SHOLL STREET,
MANDURAH
WA 6210
Current Directors Total: 2
ANIL RAJINDER MEHTA – Appointed: 19 JAN 2011
14 RIDGLEA Link CLARKSON, Western Australia
DOB: 30 DEC 1964
ANUPAMA MEHTA – Appointed: 19 JAN 2011
14 RIDGLEA Link CLARKSON, Western Australia
DOB: 17 SEP 1969
Share Structure - Classes Total: 1
ORD ORDINARY SHARES: 2 – amount paid: $2
Shareholders Total: 2
ORD 1 - ANIL RAJINDER NATH MEHTA -
ORD 1 - ANUPAMA MEHTA
BUSINESS STRUCTURE
TRADING ADDRESS 267
Scarborough Beach Rd
MT
HAWTHORN, WA 6016
TELEPHONE (618)
9443 3111
TRADING STYLE HOUSE
OF CERAMICS
BANK COMMONWEALTH
BANK OF AUSTRALIA
EMPLOYEES 6
BACKGROUND
The subject was incorporated in Western Australia on 19 January 2011
under the current style.
The subject was formed to acquire the assets and operations of House of
Ceramics effective 1 June 2011.
Directors Anil and Anupama Mehta arrived in Australia in November 2011
after running a business in Uganda.
The operations of House of Ceramics have been established for 34 years.
OPERATIONS
The subject operates in the import, retail and wholesale of wall and
floor tiles and accessories.
Activities are conducted from premises located at the above listed
trading address.
ADVERSE
A search of of failed totrace 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 Director Anil Mehta he
advised that the subject acquired the assets and operations of House of
Ceramics effective 1 June 2011. The previous owners had decided to retire and
subsequently sell the business as a going concern.
For the year ended 30 June 2010 the operations of House of ceramics
traded profitably and recorded revenue of $2,700,000.
Current assets include stock on hand valued at $500,000 and stock in transit
of $50,000.
The subject maintains an overdraft facility with its bankers which is
used to assist in funding Working Capital requirements.
The subject leases the premises from the former owners of the business.
The subject will have first option to acquire these premises.
TRADE SURVEY
The subject is in the process of establishing accounts with domestic
suppliers.
A trade survey on the subject was subsequently unable to be conducted.
SUMMARY
The subject was incorporated in Western Australia on 19 January 2011
under the current style.
The subject was formed to acquire the assets and operations of House of
Ceramics effective 1 June 2011.
The operations of House of Ceramics have been established for 34 years.
For the year ended 30 June 2010 the operations of House of ceramics
traded profitably and recorded revenue of $2,700,000.
The subject maintains an overdraft facility with its bankers which is
used to assist in funding Working Capital requirements.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.72 |
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1 |
Rs.73.46 |
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Euro |
1 |
Rs.65.47 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.