MIRA INFORM REPORT

 

 

Report Date :           

31.05.2011

 

IDENTIFICATION DETAILS

 

Name :

JAY-PAK PACKAGING PTY LTD

 

 

Registered Office :

13/123A Colin Street West Perth, Western Australia 6005

 

 

Country :

Australia

 

 

Date of Incorporation :

31.08.1983

 

 

Legal Form :

Proprietary Company

 

 

Line of Business :

design and Manufacture of a range ofcreative, packaging and display products

 

 

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

 

 Bottom of Form

REGISTERED NAME      

 

JAY-PAK PACKAGING PTY LTD

ACN: 009 074 480

ABN: 67 009 074 480

 

 

CORPORATE SEARCH

 

Incorporation Date: 31 Aug 1983

 

Incorporation State: Western Australia

 

Registered Office

13/123A COLIN Street WEST PERTH, Western Australia 6005 Australia

 

Charges

Date Registered: 01 Mar 2011

Chargee Name: 130 046 794 NISSAN FINANCIAL S

Charge Type: Fixed charge

ASIC Charge No: 2136269

 

Date Registered: 14 Dec 2010

Chargee Name: 123 123 124 COMMONWEALTH BANK

Charge Type: Fixed charge

ASIC Charge No: 2100110

 

Date Registered: 09 Jan 2009

Chargee Name: 123 123 124 COMMONWEALTH BANK

Charge Type: Fixed charge

ASIC Charge No: 1744123

 

Date Registered: 23 Mar 2006

Chargee Name: 007 457 141 WESTPAC BANKING CO

Charge Type: Fixed and floating charge

ASIC Charge No: 1280407

 

Date Registered: 15 Mar 2006

Chargee Name: 001 094 471 ST. GEORGE FINANCE

Charge Type: Fixed and floating charge

ASIC Charge No: 1277108

 

Date Registered: 07 Mar 2006

Chargee Name: 069 663 136 CAPITAL FINANCE AU

Charge Type: Fixed charge

ASIC Charge No: 1273604

 

Date Registered: 28 Nov 2005

Chargee Name: 008 519 462 CBFC LIMITED

Charge Type: Fixed charge

ASIC Charge No: 1238486

 

Number of Shares Issued: 2

 

Paid Capital: 2

 

Shareholders

JOHN MCDONALD FRAURUD

Number of Shares: 1

 

KAREN LEE FRAURUD

Number of Shares: 1

 

Directors

Director Name: FRAURUD, KAREN LEE

Appointment Date: 31 Jan 1991

Date of Birth: 01 Feb 1956

Gender: Female

Address: 7 BARBADOS Turn HILLARYS, Western Australia 6025 Australia

Resident Overseas: No

 

Director Name: FRAURUD, JOHN MCDONALD

Appointment Date: 31 Aug 1983

Date of Birth: 29 Nov 1954

Gender: Male

Address: 7 BARBADOS Turn HILLARYS, Western Australia 6025 Australia

Resident Overseas: No

 

Secretary

Secretary Name: JOHN MCDONALD FRAURUD

Appointment Date: 31 Aug 1983

 

 

BUSINESS STRUCTURE

 

TRADING ADDRESS                 15 Rowe St

                                                MALAGA, WA 6090                              

                                   

TELEPHONE                             (618) 9248 3305

 

FACSIMILE                               (618) 9248 3309

 

BANK                                       ST GEORGE BANK

                                               

EMPLOYEES                            20 to 25           


BACKGROUND

 

The subject was incorporated in Western Australia on 31 August 1983 to commence operations under the current style.

 

Operations were founded in 1982 to Managing Director John Fraurud.

 

 

OPERATIONS

 

The subject operates in the design and manufacture of a range ofcreative, packaging and display products to a wide range of industry sectors throughout Australia – beverage (beer and soft drink), confectionery, cosmetics, food, frozen seafood, pharmaceutical and wine.

 

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 Administration Manager Kerry Riddell, she 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.

 

In regards to asset backing, the subject is noted to own the premises located at the above listed trading address. A property search can be conducted at your request to confirm ownership.

 

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

 

 

TRADE SURVEY

 

A trade survey on the subject traced the following accounts:

 

1.         (BJ Ball) Purchasesare of an undisclosed amount on 90 day terms. Payment is met in 90 days and the

             account is considered satisfactory having been known since 1988.

 

2.         (Amcor Fibre) Nominated supplier failed to respond to correspondence despite chasing.

 

 

SUMMARY

 

The subject was incorporated in Western Australia on 31 August 1983 to commence operations under the current style.

 

Operations were founded in 1982 to Managing Director John Fraurud.

 

Details pertaining to the subject’s financial and trading position were unable to be obtained for the current enquiry.

 

In regards to asset backing, the subject is noted to own the premises located at the above listed trading address.

 

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

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.10

UK Pound

1

Rs.74.27

Euro

1

Rs.64.35

 

 

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

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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.