MIRA INFORM REPORT

 

 

Report Date :           

27.06.2011

 

IDENTIFICATION DETAILS

 

Name :

MOREPEN PTY LTD

 

 

Registered Office :

2 Ridgemont Close,West Pennant Hills nsw 2125

 

 

Country :

Australia

 

 

Date of Incorporation :

18.04.1991

 

 

Legal Form :

Proprietary Company

 

 

Line of Business :

Wool Merchants And Exporters

 

 

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

 

REGISTERED NAME      

 

MOREPEN PTY LTD

ACN: 051 320 257

ABN: 37 051 320 257

    

CORPORATE SEARCH

 

Incorporation State: NSW

 

Incorporation Date: 18 APR 1991

 

Registered Office

2 RIDGEMONT CLOSE,

WEST PENNANT HILLS

NSW 2125

 

Registered Charges: 1

Both Fixed & floating

HSBC BANK AUSTRALIA LIMITED (006434162)

1305569

Registered 29 MAY 2006

 

Current Directors Total: 2

 

MARGARET KATHLEEN EVANS – Appointed: 03 JUN 1991

2 RIDGEMONT Close WEST PENNANT HILLS, NSW

DOB: 13 NOV 1942

 

GRAHAM JOHN EVANS – Appointed: 03 JUN 1991

2 RIDGEMONT Close WEST PENNANT HILLS, NSW

DOB: 05 OCT 1942

 

Current Secretaries Total: 1

MARGARET KATHLEEN EVANS – Appointed: 03 JUN 1991

 

Share Structure - Classes Total: 1

 

ORD ORDINARY SHARES: 200202 – Amount paid: $200,202

 

Shareholders Total: 4

 

ORD 100 - JOHN WILLIAM EVANS

ORD 100 -CASSANDRA MARY CUNNINGHAM

ORD 100001 - MARGARET KATHLEEN EVANS

ORD 100001 - GRAHAM JOHN EVANS

                                               

BUSINESS STRUCTURE

 

TRADING ADDRESS                 Sydney Wool Centre

                                                Unit 16 Denniston Ave

                                                GUILDFORD, NSW 2161

 

POSTAL ADDRESS                   PO Box W 81

                                                WEST PENNANT HILLS, NSW 2125                  

 

TELEPHONE                             (612) 9632 9321

                                                (612) 9872 8528

 

BANK                                       ANZ BANKING GROUP

                                                HSBC

                                               

EMPLOYEES                            Not determined 

 

 

BACKGROUND

 

The subject was incorporated in New South Wales on 18 April 1981 under the current style.

 

 

OPERATIONS

 

The subject operates as wool merchants and exporters.

 

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 the subjects Financial Controller Cassandra she declined to confirm or provide any details pertaining to the subject for the current enquiry.

 

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

 

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

 

 

TRADE SURVEY

 

During the current investigation, contact with the subject’s principals was unable to be established.

 

Subsequently details pertaining to the company’s suppliers were unable to be obtained and a trade survey could not be conducted.

 

 

SUMMARY

 

The subject was incorporated in New South Wales on 18 April 1981 under the current style.

 

Details pertaining to the subjects trading and financial position were unable to be obtained for the current enquiry.

 

 Bottom of Form

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.94

UK Pound

1

Rs.71.89

Euro

1

Rs.64.09

 

 

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.