MIRA INFORM REPORT

 

 

Report Date :

10.06.2011

 

IDENTIFICATION DETAILS

 

Name :

ARYA PERSIAN & ORIENTAL CARPETS PTY LTD

 

 

Registered Office :

98 Katoomba Street, Katoomba Nsw 2780

 

 

Country :

Australia

 

 

Date of Incorporation :

09.03.1998

 

 

Legal Form :

Proprietary Limited Company

 

 

Line of Business :

Import and retails distribution of rugs, carpets and related floor coverings.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

 

 

 

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 

 

ARYA PERSIAN & ORIENTAL CARPETS PTY LTD

ACN: 081 872 620

ABN: 20 081 872 620

 

 

CORPORATE SEARCH

 

Incorporation State: NSW

 

Incorporation Date: 09 MAR 1998

 

Registered Office

98 KATOOMBA STREET,

KATOOMBA

NSW 2780

 

Registered Charges: 2

 

Both Fixed & Floating

NATIONAL AUSTRALIA BANK LIMITED (004044937)

2170019

Registered 04 MAY 2011

 

Both Fixed & Floating

NATIONAL AUSTRALIA BANK LIMITED (004044937)

813353

Registered 30 JUL 2001

 

Current Directors Total: 1

 

MOHAMMAD RAHIM RAHIMZADA – appointed: 09 MAR 1998

3 ETCHELL Place CRANEBROOK, New South Wales

DOB: 01 JAN 1954

 

Share Structure - Classes Total: 1

 

ORD ORDINARY SHARES: 100 – Amount paid: $100

 

Shareholders Total: 1

 

ORD 100 - MOHAMMAD RAHIM RAHIMZADA

 

 

BUSINESS STRUCTURE

 

TRADING ADDRESS                 202 Katoomba St

                                                KATOOMBA, NSW 2780

 

TELEPHONE                             (612) 4782 7969

 

BRANCH                                   PENRITH, NSW

 

BANK                                       NATIONAL AUSTRALIA BANK   

                                               

EMPLOYEES                            4

           

 

BACKGROUND

 

The subject was incorporated in New South Wales on 9 March 1998 to commence operations under the current style as a new venture.

           

           

OPERATIONS

 

The subject operates in the import and retails distribution of rugs, carpets and related floor coverings.

 

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 an interview conducted with the subjects Manager he advised that for the last financial year ended 30 June 2010 the subject recorded revenue of $489,000 which resulted in a Gross Profit of $266,000.

 

A similar result is projected for the current financial year ending 30 June 2011.

 

Current assets include stock on hand of $300,000.

 

The subject maintains a financing facility with the National Australia Bank which is secured by a registered charge and is used to assist in funding Working Capital requirements.

 

Further details pertaining to the subject’s financial position were unable to be obtained for the current enquiry.

 

Enquiries in trade quarters revealed payments from one supplier contact being received in 60 to 90 days on 30 day terms.

 

 

TRADE SURVEY

 

A trade survey on the subject traced the following accounts:

 

(Merinos Australia) Nominated supplier failed to respond to correspondence despite chasing.

 

(Italatex) Purchases average $5,000 per months on 30 day terms. Payment is met in 60 to 90 days and the account is considered slow having been known for 2 years.

 

 

SUMMARY

 

The subject was incorporated in New South Wales on 9 March 1998 to commence operations under the current style as a new venture.

                       

For the last financial year ended 30 June 2010 the subject recorded revenue of $489,000 which resulted in a Gross Profit of $266,000.

 

A similar result is projected for the current financial year ending 30 June 2011.

 

Enquiries in trade quarters revealed payments from one supplier contact being received in 60 to 90 days on 30 day terms.

 

                                                           

                                               

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.72

UK Pound

1

Rs.73.47

Euro

1

Rs.65.38

 

 

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.