MIRA INFORM REPORT

 

 

Report Date :           

12.05.2011

 

IDENTIFICATION DETAILS

 

Name :

GRAINPRO PTY LTD

 

 

Registered Office :

1l Oxlea Road, Dubbo Nsw 2830

 

 

Country :

Australia

 

 

Date of Incorporation :

16.11.2007

 

 

Legal Form :

Proprietary Company

 

 

Line of Business :

distribution and export of grains and related produce

 

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      

 

GRAINPRO PTY LTD

ACN: 128 508 930

ABN: 51 128 508 930

                                                           

     

CORPORATE SEARCH

 

Incorporation State: NSW

 

Incorporation Date: 16 NOV 2007

 

Registered Office

1L OXLEA ROAD,

DUBBO

NSW 2830

 

Registered Charges: 10 Provisional Charges: 0

 

2164774

Registered 21 APR 2011

Fixed

COMMONWEALTH BANK OF AUSTRALIA (123123124)

 

2157958

Registered 07 APR 2011

Fixed

COMMONWEALTH BANK OF AUSTRALIA (123123124)

 

2142944

Registered 11 MAR 2011

Fixed

COMMONWEALTH BANK OF AUSTRALIA

 

2137023

Registered

02 MAR 2011

Fixed

COMMONWEALTH BANK OF AUSTRALIA (123123124)

 

2132063

Registered 18 FEB 2011

Fixed

COMMONWEALTH BANK OF AUSTRALIA (123123124)

 

2106545

Registered 23 DEC 2010

Fixed

COMMONWEALTH BANK OF AUSTRALIA (123123124)

 

2094946

Registered 03 DEC 2010

Fixed

COMMONWEALTH BANK OF AUSTRALIA (123123124)

 

2072601

Registered 01 NOV 2010

Fixed

22 OCT 2010

COMMONWEALTH BANK OF AUSTRALIA (123123124)

 

1970852

Registered 07 MAY 2010

Fixed

NATIONAL AUSTRALIA BANK LIMITED (004044937)

 

Both Fixed &Floating

NATIONAL AUSTRALIA BANK LIMITED (004044937)

1588254

Registered 14 FEB 2008

 

Current Directors Total: 1

 

ANGELA GAIL GREENHALGH – Appointed: 16 NOV 2007

1L OXLEA Road DUBBO, New South Wales 2830

DOB: 24 AUG 1969

 

Current Secretaries Total: 1

 

ANGELA GAIL GREENHALGH – Appointed: 16 NOV 2007

 

Share Structure - Classes Total: 1

ORD ORDINARY SHARES: 1 – amount paid: $1

 

Shareholders Total: 1

ORD 1 - ANGELA GAIL GREENHALGH

 

 

BUSINESS STRUCTURE

 

TRADING ADDRESS     44 Cobra St

                                    DUBBO, NSW 2830                              

 

TELEPHONE                 (612) 6885 4667

 

FACSIMILE                   (612) 6885 3618

 

BANK                           NATIONAL AUSTRALIA BANK

                                               

EMPLOYEES                5 full time plus 6 casuals           

 

 

BACKGROUND

 

The subject was incorporated in New South Wales on 16 November 2007 to commence operations under the current style as a new venture.

 

 

OPERATIONS

 

The subject operates in the distribution and export of grains and related produce.

 

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 Kim she advised that for the last financial year ended 30 June 2010 the subject traded profitably and recorded revenue of $15,000,000 to $18,000,000.

 

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

 

Current assets at 30 April 2011 included receivables of $1,700,000 and inventories of $630,000.

 

Current liabilities at this time included creditors of $1,500,000.

 

The subject maintains a financing facility with the National Australia Bank which is secured by a registered charge and is used to assist in funding Working capital requirements.

 

Additional 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:

 

1.         (Moss’s Transport) Nominated supplier failed to respond to correspondence despite chasing.

 

 

SUMMARY

 

The subject was incorporated in New South Wales on 16 November 2007 to commence operations under the current style as a new venture.

 

For the last financial year ended 30 June 2010 the subject traded profitably and recorded revenue of $15,000,000 to $18,000,000.

 

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

 

The subject maintains a financing facility with the National Australia Bank which is secured by a registered charge and is used to assist in funding Working capital requirements.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.69

UK Pound

1

Rs.73.12

Euro

1

Rs.64.39

 

 

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

----

NB

New Business

----

 

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.