MIRA INFORM REPORT

 

 

Report Date :           

24.03.2011

 

IDENTIFICATION DETAILS

 

Name :

UNION OFFSET CO PTY LTD

 

 

Registered Office :

Optus Print Group (Australia) Pty Ltd, 12 Rachael Close, Silverwater, Nsw 2128

 

 

Country :

Australia

 

 

Date of Incorporation :

24.08.1967

 

 

Legal Form :

Proprietary Company

 

 

Line of Business :

Commercial Digital and Offset Printers with services including binding, prepress and finishing

 

 

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 :

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)

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      

 

UNION OFFSET CO PTY LTD

ACN: 008 458 099

ABN: 58 008 458 099

 

ADDRESS GIVEN                     3 Pirie St

                                                FYSHWICK, ACT 2609

 

SPECIAL NOTE                         The address provided relates to an accounting firm named Haplin Keith & Co

                                                                                                                                   

 

CORPORATE SEARCH

 

Incorporation State: ACT

 

Incorporation Date: 24 AUG 1967

 

Registered Office

OPTUS PRINT GROUP (AUSTRALIA) PTY LTD

12 RACHAEL CLOSE,

SILVERWATER

NSW 2128

 

Registered Charges: 1

 

Both Fixed &Floating

TASOVAC PTY LIMITED (108013467)

2042314

Registered 07 SEP 2010

 

Current Directors Total: 5

 

BRET PAUL JACKSON – Appointed: 20 MAR 2009

DOB: 29 DEC 1971

Resident overseas

 

CLIFFORD DOUGLAS BRIG STOCKE– Appointed: 20 MAR 2009

14 WOLLOMBI Road BILGOLA, New South Wales

DOB: 30 JAN 1961

TIM SUMNER – Appointed: 20 MAR 2009

DOB: 27 SEP 1971

Resident overseas

 

RICHARD FRANCIS CELARC – Appointed: 20 MAR 2009

14 GOOBARAH Road BURRANEER, New South

DOB: 31 MAY 1956

 

DAVID JOHN DANIEL – Appointed: 01 SEP 1997

88 CAPTAIN COOK Crescent GRIFFITH, Australian

DOB: 20 APR 1955

 

Share Structure - Classes Total: 1

 

ORD ORDINARY SHARES: 120000 – Amount paid: $120,000

 

Shareholders Total: 1

 

ORD 120000 - CANPRINT HOLDINGS PTY LTD

 

 

BUSINESS STRUCTURE

 

TRADING ADDRESS     16 Nyrang St

                                    FYSHWICK, ACT 2609                          

 

TELEPHONE                 (612) 6295 4500

 

FACSIMILE                   (612) 6295 4567

 

CONTROLLED ENTITY   CANPRINT COMMUNICATIONS P/L

 

HOLDING ENTITY          CANPRINT HOLDINGS P/L

 

BANK                           NATIONAL AUSTRALIA BANK

                                               

EMPLOYEES                121

 

           

BACKGROUND

 

The subject was incorporated in the ACT on 24 August 1967 under the current style.

 

Operations were originally established in 1958.

 

 

OPERATIONS

 

The subject operates as commercial digital and offset printers with services including binding, prepress and finishing.

 

Activities are conducted from leased 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 for the last financial year ended 30 June 2010 the subject traded profitably and recorded consolidated revenue of $31,200,000.

 

A similar result is forecast for the current financial year ending 30 June 2011.

 

At 30 June 2010 the subject recorded total consolidated current assets of $7,700,000. They included inventories of $1,100,000.

 

Current liabilities at this time totalled $5,500,000.

 

Furthermore at this time the subject recorded consolidated working capital of $2,200,000 and a current ratio of .4 to 1 indicating satisfactory liquidity levels.

 

At 30 June 2010 the subject recorded consolidated total assets of $31 million and Net Assets of $13,500,000.

 

 

TRADE SURVEY

 

A trade survey on the subject traced the following accounts:

 

·         1.   (Spicers) Nominated supplier failed to respond to correspondence despite chasing.

 

·         2.   (OCE) Nominated supplier failed to respond to correspondence despite chasing.

 

 

SUMMARY

 

The subject was incorporated in the ACT on 24 August 1967 under the current style.

 

Operations were originally established in 1958.

 

For the last financial year ended 30 June 2010 the subject traded profitably and recorded consolidated revenue of $31,200,000.

 

A similar result is forecast for the current financial year ending 30 June 2011.

 

At 30 June 2010 the subject recorded consolidated working capital of $2,200,000 and a current ratio of .4 to 1 indicating satisfactory liquidity levels.

 

At 30 June 2010 the subject recorded consolidated total assets of $31 million and Net Assets of $13,500,000.

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.96

UK Pound

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%)

 

 

 

 

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.