MIRA INFORM REPORT

 

 

Report Date :           

17.06.2011

 

IDENTIFICATION DETAILS

 

Name :

FAR EAST IMPORT AND EXPORT

 

 

Registered Office :

19 Sudbury Pl, Mirrabooka, Wa 6061

 

 

Country :

Australia

 

 

Date of Incorporation :

13.07.1987

 

 

Legal Form :

Private Company

 

 

Line of Business :

import and distribution of oriental food 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      

 

FAR EAST IMPORT AND EXPORT

RN: 8402805S

 

     

CORPORATE SEARCH

 

REGISTERED                           13 July 1987

 

ADDRESS                                19 Sudbury Pl

                                                MIRRABOOKA, WA 6061

 

LIONG, Si Seng

                                                2 Casuarina Way

                                                MORLEY, WA 6062

 

                                                LIONGUE, Arthur

                                                93 Emberson Rd

                                                NORANDA, WA 6062    

 

 

BUSINESS STRUCTURE

 

TRADING ADDRESS     Shop 3, 238 Walter Rd

                                    Morely Market

                                    MORELY WA 6062

 

TELEPHONE                 (618) 9275 5354

 

MOBILE                        0418 919 890

 

TRADING NAME            FAR EAST ORIENTAL SUPERMARKET             

 

BANK                           WESTPAC BANKING CORPORATION

                                               

EMPLOYEES                2 (proprietors) plus 2 casual       

 

 

BACKGROUND

 

The subject was registered in Western Australia on 13 July 1987 to commence operations under the current style as a new venture.

 

OPERATIONS

 

The subject operates import and distribution of oriental food products.

 

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

 

 

ADVERSE

                                               

A search of failed to trace 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 Proprietor Si Liong, he declined to confirm or provide any details pertaining to the subject.

 

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

 

 

TRADE SURVEY

 

During the current investigation, details pertaining to the subject’s suppliers were not provided.

 

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

 

 

SUMMARY

 

The subject was registered in Western Australia on 13 July 1987 to commence operations under the current style as a new venture.

 

During the current investigation, details pertaining to the subjects financial position were unable to be obtained.

 

           


FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.90

UK Pound

1

Rs.72.54

Euro

1

Rs.63.39

 

 

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.