MIRA INFORM REPORT
|
Report Date : |
24.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
DAIEI AUSTRALASIA PTY LTD |
|
|
|
|
Registered Office : |
29, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2009 |
|
|
|
|
Date of Incorporation : |
30.03.1971 |
|
|
|
|
Legal Form : |
Proprietary Company |
|
|
|
|
Line of Business : |
paper and Plastic Marketing, Distribution and Converting Company |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment
Behaviour : |
No Complaints |
|
|
|
|
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) |
|
|
a1 |
a1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
REGISTERED NAME
DAIEI AUSTRALASIA PTY
LTD
ACN:
004 873 581
ABN: 98 004 873 581
CORPORATE SEARCH
INCORPORATED 30 March 1971
REGISTERED ADDRESS 29,
MELBOURNE, VIC 3000
SHARECAPITAL $5,000,000
SHAREHOLDERS Daiei Papers International
Corp - Holds 5,369,107 shares
DIRECTORS
DANDENONG,
VIC 3175
TOMIOKA, Takao
Resident overseas
ROWLEY, Jacqueline Clair
CRANBOURNE SOUTH, VIC 3977
SECRETARY
DANDENONG,
VIC 3175
REGISTERED CHARGES Registered Charge Number : 462673
Date Registered : 18.10.1994
Status : Fixed and floating
Creditor : ANZ Banking Group
BUSINESS STRUCTURE
TRADING ADDRESS
DANDENONG
SOUTH VIC 3175
TELEPHONE (613) 8795 5200
FACSIMILE (613) 9799 8911
HOLDING ENTITY DAIEI PAPERS INTERNATIONAL CORPOATION
ULTIMATE HOLDING
ENTITY KOKUSAI PULP &
PAPER CO
BANK BANK OF
EMPLOYEES 13
BACKGROUND
The subject was incorporated in
OPERATIONS
The subject operates as a paper and plastic marketing, distribution and converting company.
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
During the current interview conducted with the subjects Financial Controller, she advised that for the last financial year ended 31 December 2010 the subject traded profitably and recorded revenue of $63,000,000.
At 31 December 2010 the subject recorded Net Assets of $5,500,000.
From the subjects most recently lodged financial statements it is shown that for the year ended 31 December 2009 the subject recorded consolidated revenue of $54,336,961, which resulted in an operating Profit before tax of $1,235,714 and an operating Profit after tax of $705,583.
Below is a summary of the subject’s income results for the past two financial years.
|
|
Daiei Australasia Pty Ltd |
|
|
|
|
As at 31 December 2009 |
As at 31 December 2008 |
Change (%) |
|
Revenue |
$54,336,961 |
$70,735,299 |
-23.18% |
|
Profit b/tax |
$1,235,714 |
($344,402) |
-458.80% |
|
Profit a/tax |
$705,583 |
($466,608) |
-251.22% |
|
Net Profit Margin |
1.30% |
-0.66% |
1.96% |
During fiscal 2009the subject recorded Net cashflows from operating activities totalling $2,664,182.
As at 31 December 2009, the subject recorded consolidated current assets of $25,131,343. They included receivables of $19,030,956 and inventories of $4,963,354.
At the same date consolidated current liabilities totaled $22,052,398 and included payables of $16,638,099 and interest bearing liabilities of $4,608,000.
As at 31 December 2009 the subject recorded Working Capital of $3,078,945 and a current ratio of 1.14 to 1.
At 31 December 2009the subject had financing facilities available from the bank amounting to $800,000. At this time this facility was not used. This facility may be terminated at any time by the bankers.
In addition the subject has loan facilities available from the bank to $15,000,000. These facilities were drawn to $4,699,795,000 at this time.
Net Assets totalled $4,866,561 as at 31 December 2009. At this date, the subject also recorded a Debt to Equity ratio of 4.53 to 1.
Other Financial Information
|
|
Daiei Australasia Pty Ltd |
|
|
|
|
As at 31 December 2009 |
As at 31 December 2008 |
Change (%) |
|
Revenue |
$54,336,961 |
$70,735,299 |
-23.18% |
|
Profit b/tax |
$1,235,714 |
($344,402) |
-458.80% |
|
Profit a/tax |
$705,583 |
($466,608) |
-251.22% |
|
Net Profit Margin |
1.30% |
-0.66% |
1.96% |
|
Current Assets |
$25,131,343 |
$26,084,733 |
-3.65% |
|
Non-Current Assets |
$1,796,790 |
$2,294,773 |
-21.70% |
|
Total Assets |
$26,928,133 |
$28,379,506 |
-5.11% |
|
Current Liabilities |
$22,052,398 |
$24,214,070 |
-8.93% |
|
Non-Current Liabilities |
$9,174 |
$4,458 |
105.79% |
|
Total Liabilities |
$22,061,572 |
$24,218,528 |
-8.91% |
|
Net Assets |
$4,866,561 |
$4,160,978 |
16.96% |
|
Working Capital |
$3,078,945 |
$1,870,663 |
64.59% |
|
Current Ratio |
1.14 |
1.08 |
5.79% |
|
Debt to Equity |
4.53 |
5.82 |
-22.11% |
The holding entity, Kokusai Pulp & Paper is
TRADE SURVEY
A trade survey on the subject traced the following accounts:
1.
(Frank
Madden) Purchases average $60,000 to $80,000 per month on 30 day terms. Payment
is met in 30 days and the account is considered satisfactory, having been known
over 25 years.
SUMMARY
The subject was incorporated in
For the last financial year ended 31 December 2010 the subject traded profitably and recorded revenue of $63,000,000.
For the year ended 31 December 2009 the subject recorded consolidated revenue of $54,336,961, which resulted in an operating Profit before tax of $1,235,714 and an operating Profit after tax of $705,583.
During fiscal 2009 the subject recorded Net cashflows from operating activities totalling $2,664,182.
As at 31 December 2009 the subject recorded Working Capital of $3,078,945 and a current ratio of 1.14 to 1.
Net Assets totalled $4,866,561 as at 31 December 2009.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.96 |
|
|
1 |
Rs.73.57 |
|
Euro |
1 |
Rs.63.68 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.