MIRA INFORM REPORT

 

 

Report Date :           

18.03.2011

 

IDENTIFICATION DETAILS

 

Correct Name :

ITALIA CERAMICS PTY LTD

 

 

Formerly Known As :

Italia Ceramic Supplies of Australia P/L

 

 

Registered Office :

55 Glynburn Road, Glynde, Sa 5070

 

 

Country :

Australia

 

 

Date of Incorporation :

05.07.1985

 

 

Legal Form :

Proprietary Company

 

 

Line of Business :

import and distribution of ceramic wall and floor tiles

 

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      

 

ITALIA CERAMICS PTY LTD

ACN: 002 078 340

ABN: 79 728 529 796

 

 

CORPORATE SEARCH

 

Incorporation State: SA

 

Incorporation Date: 05 JUL 1985

 

Registered Office

55 GLYNBURN ROAD,

GLYNDE

SA 5070

 

Current Directors Total: 4

 

ROBERT GIUSEPPE VOZZO – Appointed: 17 JUN 2010

14 SWAINE Avenue ROSE PARK, South Australia

DOB: 06 MAY 1969

 

ROSA MARIA VOZZO – Appointed: 15 APR 2009

4 TREWREN Avenue ROSTREVOR, South Australia

DOB: 07 OCT 1942

 

VINCENZO ANTHONY VOZZO – Appointed: 05 JUL 1985

356 MONTACUTE Road ROSTREVOR, South Australia 5073 Australia

 DOB: 13 NOV 1961 Male No 91244371

 

PASQUALE SALVATORE VOZZO – Appointed: 05 JUL 1985

4 TREWREN Avenue ROSTREVOR, South Australia

DOB: 17 APR 1938

 

Current Secretaries Total: 2

 

ROBERT GIUSEPPE VOZZO – Appointed: 14 APR 2003

ROSA MARIA VOZZO – Appointed: 05 JUL 1985

 

Share Structure - Classes Total: 1

ORD ORDINARY SHARES: 10 – Amount paid: $10

 

Shareholders Total: 2

 

ORD 2 - ROSA MARIA VOZZO

ORD 8 - PASQUALE SALVATORE ANTONIO VOZZO

 

BUSINESS STRUCTURE

 

TRADING ADDRESS     55 Glynburn Rd

                                    GLYNDE, SA 5070

 

TELEPHONE                 (618) 8336 2366

 

FACSIMILE                    (618) 8336 9016

 

ASSOCIATED ENTITY              STONEWARE PRODUCTIONS P/L

 

BANK                                       NATIONAL AUSTRALIA BANK   

                                               

EMPLOYEES                            25

           

 

BACKGROUND

 

The subject was incorporated in South Australia on 5 July 1985 as Italia Ceramic Supplies of Australia P/L before adopting the current style on 38 December 1995.

 

Operations were founded in 1974.

 

 

OPERATIONS

 

The subject operates in the import and distribution of ceramic wall and floor tiles.

 

The group also operates in the manufacture of kitchen bench tops and vanities.

 

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

 

 

ADVERSE

                                               

A search of failed to trace any adverse findings 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 confirmed the subjects search and operational details, however declined to provide any financial or trading information as a matter of strict company policy.

 

Subsequently details in this regard were unable to be obtained during the current investigation.

 

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

 

The subject is noted to operate in its capacity on behalf of the Italia Ceramic Supplies of Australia Unit Trust. Unsecured creditors are placed at maximum risk when dealing with a trustee company.

 

 

TRADE SURVEY

 

A trade survey on the subject traced the following accounts:

 

1.                   (Ardex Australia) Purchases range between $60,000 to $120,000 per month on 30 day terms. Payment is met in 30 days and the account is considered satisfactory, having been known over 10 years.

 

2.                   (Kerrys Freight) Purchases average $52,000 per month on 30 day terms. Payment is met within terms and the account is considered satisfactory having been known since September 2008.

 

3.                   (San Marco Ceramics) Nominated supplier failed to respond to correspondence despite chasing.

 

 

SUMMARY

 

The subject was incorporated in South Australia on 5 July 1985 before adopting the current style on 38 December 1995.

 

Operations were founded in 1974.

 

Details pertaining to the subjects fincnial position were unable to be obtained for the current enquiry.

 

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

 

The subject is noted to operate in its capacity on behalf of the Italia Ceramic Supplies of Australia Unit Trust.

                       

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.24

UK Pound

1

Rs.72.57

Euro

1

Rs.63.00

 

 

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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