MIRA INFORM REPORT

 

 

Report Date :           

14.06.2011

 

IDENTIFICATION DETAILS

 

Name :

HIMMALAYAS HOLDINGS PTY LTD

 

 

Registered Office :

Patel & Associates, Level 1, 17 Market Street, Nunawading, Vic 3131

 

 

Country :

Australia

 

 

Date of Incorporation :

07.04.1982

 

 

Legal Form :

Proprietary Company

 

 

Line of Business :

import and distribution of building supplies

 

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 :

Exists

 

 

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 

 

HIMMALAYAS HOLDINGS PTY LTD

T/AS HIMALAYAS INDIAN EMPORIUM


ADDRESS PROVIDED               14 CHAFFEY STREET

THOMASTOWN  3071 VICTORIA , AUSTRALIA

 

SPECIAL NOTE             Please note this is an old trading address of the subject.

 

     

CURRNET INVESTIGATION

 

IncorporationState: WA

 

Incorporation Date: 07 APR 1982

 

Registered Office

PATEL & ASSOCIATES

LEVEL 1,

17 MARKET STREET,

NUNAWADING

VIC 3131

 

Registered Charges: 1

 

Both Fixed & Floating

BANK OF WESTERN AUSTRALIA LTD (050494454)

513489

Registered 31 OCT 1995

 

Current Directors Total: 2

 

SUNITA PRASHAR – Appointed: 22 JUL 1994

2 HARBER Court GLEN WAVERLEY, Victoria 3150

DOB: 01 JAN 1965

 

MEHAR CHAND PRASHAR – Appointed: 30 JUN 1987

2 HARBER Court GLEN WAVERLEY, Victoria 3150

DOB: 13 FEB 1948

 

 

Current Secretaries Total: 1

MEHAR CHAND PRASHAR – Appointed: 30 JUN 1987

 

Share Structure - Classes Total: 1

 

ORD ORDINARY SHARES: 2 – Amount paid: $2

 

Shareholders Total: 2

ORD 1 - MEHAR CHAND PRASHAR

ORD 1 - SUNITA PRASHAR

 

 

BUSINESS STRUCTURE

 

TRADING ADDRESS     2 Harber Ct

                                    GLEN WAVERLEY, VIC 3150

 

TELEPHONE                 (613) 8802 8795

 

BANK                           BANKWEST     

                                   

EMPLOYEES                2 (active Directors)

 

           

BACKGROUND

 

The subject was incorporated in Western Australia on 7 April 1982 under the current style.

 

                       

OPERATIONS

 

The subject operates in the import and distribution of building supplies.

 

Activities are conducted from residential premises located at the above listed trading address.

 

 

ADVERSE

                                               

A search of traced the following adverse findings listed against the subject at that date.

 

Payment Default

Account Number            : 019028055

Account Type                : Utilities

Member                        : Origin Energy

Date                             : 24.01.2007

Amount                         : $141

Reason                         : Payment default

Assoc Code                  : Company’s Account

FINANCES

 

The subject is not required to lodge financial statements with the Australian Securities and Investments Commission.

 

During the current interview conducted with Director MeherPrashar, he advised that for the last financial year ended 30 June 2010 the subject traded profitably and recorded revenue of $800,000 to $1,000,000.

 

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

 

Current assets include small quantities of stock on hand and receivables of $30,000 to $40,000.

 

The subject maintains no overdraft facilities as all operations are funded through the internal cashflows of the company.

 

Current liabilities include creditors of $30,000 to $40,000.

 

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

 

 

TRADE SURVEY

 

A trade survey on the subject traced the following accounts:

 

Nominated supplier failed to respond to correspondence despite chasing.

 

 

SUMMARY

 

The subject was incorporated inWestern Australia on 7 April 1982 under the current style.

                       

For the last financial year ended 30 June 2010 the subject traded profitably and recorded revenue of $800,000 to $1,000,000.

 

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

 

The subject maintains no overdraft facilities as all operations are funded through the internal cashflows of the company.

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.87

UK Pound

1

Rs.72.83

Euro

1

Rs.64.37

 

 

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.