MIRA INFORM REPORT
|
Report Date : |
20.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
ARYA PERSIAN & ORIENTAL CARPETS PTY LTD |
|
|
|
|
Registered Office : |
98 Katoomba Street, Katoomba Nsw 2780 |
|
|
|
|
Country : |
Australia |
|
|
|
|
Date of Incorporation : |
09.03.1998 |
|
|
|
|
Legal Form : |
Proprietary Company |
|
|
|
|
Line of Business : |
import and retails distribution of rugs, carpets
and related floor coverings |
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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
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
ARYA PERSIAN & ORIENTAL CARPETS PTY LTD
ACN: 081 872 620
ABN: 20 081 872
620
ADDRESS GIVEN 98
Katoomba St
KATOOMBA,
NSW 2780
CORPORATE SEARCH
Incorporation
State: NSW
Incorporation
Date: 09 MAR 1998
Registered Office
98 KATOOMBA
STREET,
KATOOMBA
NSW 2780
Registered
Charges: 2
Both Fixed & Floating
NATIONAL AUSTRALIA
BANK LIMITED (004044937)
2170019
Registered 04 MAY
2011
Both Fixed &
Floating
NATIONAL AUSTRALIA
BANK LIMITED (004044937)
813353
Registered 30 JUL
2001
Current Directors
Total: 1
MOHAMMAD RAHIM
RAHIMZADA – appointed: 09 MAR 1998
3 ETCHELL Place
CRANEBROOK, New South Wales
DOB: 01 JAN 1954
Share Structure -
Classes Total: 1
ORD ORDINARY
SHARES: 100 – Amount paid: $100
Shareholders
Total: 1
ORD 100 - MOHAMMAD
RAHIM RAHIMZADA
BUSINESS STRUCTURE
TRADING ADDRESS 202 Katoomba St
KATOOMBA,
NSW 2780
TELEPHONE (612) 4782 7969
BRANCH PENRITH, NSW
BANK NATIONAL
AUSTRALIA BANK
EMPLOYEES 4
BACKGROUND
The subject was incorporated in New South Wales on 9 March 1998 to commence operations under the current style as a new venture.
OPERATIONS
The subject operates in the import and retails distribution of rugs, carpets and related floor coverings.
Activities are conducted from premises located at the above listed trading address.
ADVERSE
A search of records 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 Manager he advised that for the last financial year ended 30 June 2010 the subject recorded revenue of $489,000 which resulted in a Gross Profit of $266,000.
A similar result is projected for the current financial year ending 30 June 2011.
Current assets include stock on hand of $300,000.
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.
Further details pertaining to the subjects financial position were unable to be obtained for the current enquiry.
TRADE SURVEY
A trade survey on the subject traced the following accounts:
(Merinos Australia) Nominated supplier failed to respond to correspondence despite chasing.
(Italatex) Nominated supplier failed to respond to correspondence despite chasing.
SUMMARY
The subject was incorporated in New South Wales on 9 March 1998 to commence operations under the current style as a new venture.
For the last financial year ended 30 June 2010 the subject recorded revenue of $489,000 which resulted in a Gross Profit of $266,000.
A similar result is projected 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.44.98 |
|
UK Pound |
1 |
Rs.72.68 |
|
Euro |
1 |
Rs.64.16 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.