MIRA INFORM REPORT

 

 

Report Date :           

09.03.2011

 

IDENTIFICATION DETAILS

 

Correct Name :

BIO PAKPTY LTD

 

 

Registered Office :

Mbp Advisory Pty. Limited, Level 2, 7-15 Macquarie Place, Sydney Nsw 2000

 

 

Country :

Australia

 

 

Date of Incorporation :

01.06.2006

 

 

Legal Form :

Proprietary Company

 

 

Line of Business :

import and distribution of biodegradable packaging 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 – December 31, 2010

 

Country Name

Previous Rating

                   (30.09.2010)                  

Current Rating

(31.12.2010)

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      

 

BIO PAKPTY LTD

ACN: 119 998 711

ABN: 48 119 998 711

 

                                                                                                                                   

CORPORATE SEARCH

 

Incorporation State: NSW

 

Incorporation Date: 01 JUN 2006

 

Registered Office

MBP ADVISORY PTY. LIMITED

LEVEL 2,

7-15 MACQUARIE PLACE,

SYDNEY

NSW 2000

 

Registered Charges: 1

Both Fixed & Floating

EQUISTOCK HOLDINGS 33 PTY LIMITED (095561989)

1853614

Registered 16 SEP 2009

 

Current Directors Total: 2

GARY CLIVE SMITH – Appointed: 27 FEB 2008

174 HOPETOUN Avenue VAUCLUSE, New South Wales

DOB: 28 DEC 1968

 

RICHARD FINE – Appointed: 01 JUN 2006

403/7 JENNER Street LITTLE BAY, New South Wales

DOB: 21 FEB 1970

 

Current Secretaries Total: 1

 

RICHARD FINE – Appointed: 01 JUN 2006

 

Share Structure - Classes Total: 1

 

ORD ORDINARY SHARES - 300 – Amount Paid: $300

 

Shareholders Total: 2

ORD 150 - EQUISTOCK HOLDINGS 33 PTY LIMITED

ORD 150 - FINE 777 PTY LTD

 

BUSINESS STRUCTURE

 

TRADING ADDRESS     suite 1a, level 4

                                    207 to 209 Oxford St

                                    BONDI JUNTION, NSW 2022                             

 

TELEPHONE                 (612) 8060 9000

 

BANK                           ST GEORGE BANK

                                               

EMPLOYEES                8         

 

 

BACKGROUND

 

The subject was incorporated in New South Wales on 1 June 2006 to commence operations under the current style as a new venture.

 

 

OPERATIONS

 

The subject operates in the import and distribution of biodegradable packaging products including cups, stretch wrap, plates, cutlery and containers.

 

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, he advised that the subject had been trading profitably however declined to release any details pertaining to the subject’s financial position as a matter of company policy.

 

Details in this regard were subsequently unable to be obtained for the current enquiry.

 

Enquiries in trade quarters revealed satisfaction from one supplier contacted in dealing with the subject on a credit basis.

 

TRADE SURVEY

 

A trade survey on the subject traced the following accounts:

 

1.(Hunter Express) Purchases average $50,000 per month on 14 day terms. Payment is met in 14 days and the account is considered satisfactory having been known since 2009.

 

2.(Northline) Nominated supplier declined to provide a reference owing to company policy.

 

 

SUMMARY

 

The subject was incorporated in New South Wales on 1 June 2006 to commence operations under the current style as a new venture.

 

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

 

Enquiries in trade quarters revealed satisfaction from one supplier contacted in dealing with the subject on a credit basis.

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.03

UK Pound

1

Rs.72.98

Euro

1

Rs.62.94

 

 

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

 

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%)

 

 

 

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.