MIRA
INFORM REPORT
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Report Date : |
12.03.2011 |
IDENTIFICATION DETAILS
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Name : |
AUSTRALIAN BOTANICAL PRODUCTS PTY LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
12.06.1987 |
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Legal Form : |
Proprietary Limited Company |
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Line of Business : |
Leading supplier of natural essential oils and vegetable oils to the
food, beverage, hygiene and cosmetic industries. |
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 : |
No Complaints |
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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 – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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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 |
REGISTERED NAME
AUSTRALIAN
BOTANICAL PRODUCTS PTY LTD
ACN: 006 782 529
ABN: 45 006 782
529
ADDRESS GIVEN
HALLAM, VIC 3803
CORPORATE SEARCH
INCORPORATED 12
June 1987
REGISTERED ADDRESS 39
Melverton Dr
HALLAM,
VIC 3803
SHARECAPITAL $13
SHAREHOLDERS FERGEUS,
John James holds 1,100 shares
SMITH,
Timothy Xavier holds 133 shares
JONES,
Alan Ross holds 100
shares
DIRECTORS BROCKLEHURST, David
4,
SMITH, Timothy
Xavier
BERWICK,
VIC 3806
LEACH,
Herbert Leonard
1405,
DOCKLANDS,
VIC 3008
JONES,
Alan Ross
WILLIAMSTOWN,
VIC 3016
FERGEUS,
John James
TEMPLESTOWE,
VIC 3106
SECRETARY
REGISTERED CHARGES Registered Charge Number : 543820
Date
Registered : 19.06.1996
Status : Fixed
and floating
Creditor : Commonwealth
Bank
BUSINESS STRUCTURE
TRADING ADDRESS 39
Melverton Dr
HALLAM,
VIC 3803
TELEPHONE (613)
9796 4833
FACSIMILE (613)
9796 4966
BANK COMMONWEALTH
BANK OF
EMPLOYEES 60
BACKGROUND
The subject was incorporated in
Operations were established as a new venture in the early 1980’s.
OPERATIONS
The subject operates as a leading supplier of natural essential oils and
vegetable oils to the food, beverage, hygiene and cosmetic industries.
As a global manufacturer of essential oils & fragrances we hold
licences for Therapeutic Goods Administration (TGA) whilst manufacturing under
the industry standard of the code Good Manufacturing Practice (GMP).
Activities are conducted from leased premises located at the above
listed trading address.
ADVERSE
A search of the of Credit Advantage Limited on 1 March 2011 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 subject’s financial
controller, Neil Garland, he advised that for the last financial year ended 30
June 2010, the subject traded profitably and recorded revenue of more than
$14,000,000.
The subject maintains a financing
facility with the Commonwealth Bank, which is secured by a registered charge
over certain fixed and floating assets of the company.
Further details pertaining to the subject’s financial position were
unable to be obtained for the current enquiry.
TRADE SURVEY
A trade survey on the subject traced the following accounts:
(Plasdene) Nominated supplier failed to respond to correspondence
despite chasing.
(Australian Sandalwood Oil company) Purchases range between $50,000 and $275,000
per month on 60 day terms. Payment is met in 60 days and the account is
considered satisfactory having been known over 5 years.
SUMMARY
The subject was incorporated in
Operations were established as a new venture in the early 1980’s.
For the last financial year ended 30 June 2010, the subject traded
profitably and recorded revenue of more than $14,000,000.
The subject maintains a financing
facility with the Commonwealth Bank, which is secured by a registered charge
over certain fixed and floating assets of the company.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.21 |
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1 |
Rs.72.55 |
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Euro |
1 |
Rs.62.43 |
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.