MIRA INFORM REPORT
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Report Date : |
20.01.2012 |
IDENTIFICATION DETAILS
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Name : |
BIOPAK PTY LTD |
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Registered Office : |
C/O Mbp Advisory Pty. Limited Level 2, 7-15 Macquarie Place, Sydney, New South Wales, Zip/Postal Code 2000 |
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Country : |
Australia |
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Date of Incorporation : |
01.06.2006 |
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Com. Reg. No.: |
119998711 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Distributor of biodegradable packaging products |
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No. of Employees : |
8 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 150,000 |
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Status : |
Small Company |
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Payment
Behaviour : |
No Complaints |
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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 – September 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Australia |
a1 |
a1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Identification details
Verified Address
Subject
name : BIOPAK PTY LTD
Business
address : Suite 2104, Level 21, 'Westfield Tower 2'
101 Grafton Street
Town : Bondi Junction
Province : New South Wales
Zip/postal
code : 2022
Country : Australia
Tel : +61 2 80609000
Fax : +61 2 80609001
Email : info@biopak.com.au
Website : www.biopak.com.au
Registered
address : C/o MBP ADVISORY PTY. LIMITED Level 2, 7-15 Macquarie
Place
Town : Sydney
Province : New South Wales
Zip/postal
code : 2000
Country : Australia
Comments : The provided address Suite 1A, Level 4, 207-209 Oxford
Street, Bondi Junction,
NSW 2022, Australia is an old
address of the Subject.
Summary details
Executive Summary
Date founded or registered : 01/06/2006
Legal form : Australian Proprietary Company
Chief executive : Richard Fine
Issued & paid up capital : AUD 300
Sales turnover : AUD 3,000,000 (Estimated Non-consolidated 12 months, 30/06/2011)
Line of business : Distributor of biodegradable packaging products.
Staff employed : 8 employees
Credit risk opinion
Company Analysis
Country risk : Country risk is minimal
Operation trend : Operational trend is steady
Management
experience : Management is reasonably experienced
Financial
performance : Financial performance is fair
Organization
structure : Organizational structure is stable
Detrimental : No detrimental records found
Payment history : No payment delays noted
Credit amount
suggestion : USD 150,000
Credit amount asked : USD 150,000
Statutory details
Registry Data
Registration date : 01/06/2006
Legal form : Australian Proprietary Company
Registration no : Australian Company Number: 119998711
Registered authority : Australian Securities & Investments Commission
Fiscal/ Tax no : Australian Business Number: 48119998711
Registry status : Live/Active
Previous name : None reported.
Change of legal form : None reported.
Management / directors
Key Management
Name : Richard
Fine
Designation : Director
Name : Gary
Clive Smith
Designation : Director
Board of directors / other
appointments
Appointments
Name : Richard Fine
Designation : Director and Company Secretary
Appointment date : 01/06/06
Address : 7 Jenner Street
Little Bay, NSW 2036
Australia
Biography : Born on 21-02-1970 in South Africa.
Name : Gary Clive Smith
Designation : Director
Appointment date : 27/02/08
Address : 174 Hopetoun Avenue
Vaucluse, NSW 2030
Australia
Biography : Born
on 28-12-1968 in
Staff employed : 8 employees
Share capital
Composition
Authorized Capital : AUD 300
No of shares : 300 Ordinary Shares
Share par value : AUD 1
Issued capital : AUD 300
Paid up capital : AUD 300
ownership / shareholders
How listed : Full List
Composition
Shareholder name FINE 777 PTY LTD
Address 7 Jenner Street
Little Bay, NSW 2036
Australia
No. of shares 150 Ordinary Shares
% of shares 50%
Shareholder name : EQUISTOCK HOLDINGS 33 PTY LIMITED
Address : C/o MBP ADVISORY PTY. LIMITED
Level 2, 7-15 Macquarie Place
Sydney, NSW 2000
Australia
No. of shares : 150 Ordinary Shares
% of shares : 50%
Related companies & corporate Affiliations
Structure
Name : BIOPAK LIMITED
Affiliation type : Wholly-owned Subsidiary
Address : Suite 12, Level 2, The Axis Building
1-3 Cleveland Road
Parnell, Auckland 1052
New Zealand
Bank & mortgages
Bank Details
Name of bank : Commonwealth Bank of Australia
Address : Australia
Account details : Current Account
Comments : It is generally not the policy of local banks to provide credit status information to non related
parties, however interested parties would be advised to consult first with the Subject if banker's references are required.
Mortgages
Unsatisfied
Charges:
ASIC Charge Number: 1853614
Date Registered: 16-09-2009
Charge type: Both Fixed & Floating
Date Created: 17-07-2009
Chargees Name: EQUISTOCK HOLDINGS 33 PTY LIMITED
Legal Fillings
Bankruptcy
fillings : None reported.
Court
judgements : None reported.
Tax
liens : None reported.
Others : None reported.
financial data
Description
Source of financial statement : External
Sources
Financial statement date : 30/06/11
Type of accounts : Estimated key figures
Currency : Australia Dollar (AUD)
Exchange rate : 1 USD = AUD 0.96 as of 18-01-2012
Summarized Financial Information
Consolidation type : Non Consolidated
Currency : Australia Dollar (AUD)
Denomination : (x1) One
Date of financial year end : 30/06/11
Length of accounts : 12 months
Sale turnover / Income : 3,000,000
Comments : The Subject is classified as a small proprietary company by the Australian
Securities
& Investments Commission hence is not required to disclose their
financial statement.
A proprietary
company is defined as small for a financial year if it satisfies at least two
of the following:
- The consolidated
revenue for the financial year of the company and any entities it controls is
less than $25 million;
-The value of
the consolidated gross assets at the end of the financial year of the company
and any entities it controls is less than $12.5 million, and
-The company
and any entities it controls have fewer than 50 employees at the end of the
financial year.
Operation details
Main activities : The Subject is engaged as distributor
of biodegradable packaging products such as moulded fibre packaging, food
service disposables, flexible food packaging, bioplastic packaging, water
soluble films.
Product & services Coffee Cups
Paper Bowls
Clear Cups
Clear Deli Containers
Plates, Bowls & Lunch Boxes
Cutlery & Straws
Water Soluble Laundry Bags
Compostable Bags
PLA Packaging Film
Bioplastic Resins
Absorbent Products
Water Soluble Films
Extruded Bioplastic Sheet
Custom Pulp Moulding
Brand : BioPak BioDeli BioCup BioPlate BioBowl BioCutlery
Purchases
International : China, Taiwan
Sales
Local : Yes
International : New Zealand
Property & Assets
Premises : The Subject operates from head office located at the verified heading address
consisting of administrative office.
Branches : None reported.
Summarized country risk
Central bank : Reserve Bank of Australia
Reserve of foreign exchange & gold : US$ 43.879 billion
Gross domestic product – GDP : US$ 1.448 trillion
GPP (Purchasing power parity) : 918.529 billion of International dollars
GDP per capita - current prices : US$ 64,351
GDP - composition by sector : agriculture: 4.1% industry: 26% services: 70%
Inflation : 2008: 4.4%
2009: 1.8%
2010: 2.8%
Unemployment rate 2008: 4.2 %
2009: 5.6 %
2010:5.2 %
Public debt
(General Government gross
debt as a % GDP) 2008: 11.6%
2009: 17.6%
2010: 22.3 %
Government bond
ratings Standard
& Poor's: AAA-/Stable/A-1+
Moody's rating: Aaa
Moody's outlook: STA
Market value of publicly traded shares US$ 1.258 trillion
Largest companies in the country :
Westpac Banking Group (Major Banks),
BHP Billiton (Diversified Metals & Mining), Commonwealth Bank (Major
Banks), National Australia Bank (Major Banks), ANZ Banking (Major Banks),
Telstra (Telecommunications services), Wesfarmers (Food Retail)
Trade & Competitiveness Overview
Total exports US$210.7
billion
Exports commodities coal,
iron ore, gold, meat, wool, alumina, wheat
Total imports US$187.2
billion
Imports commodities machinery and transport
equipment, computers and office machines, telecommunication equipment and
parts, crude oil and petroleum products
Export - major partners Japan 18.9%, China 14.2%, South Korea 8%, US 6%, NZ 5.6%, India
5.5%, UK 4.2%
Import - major partners China 15.5%, US 12.8%, Japan 9.6%, Singapore 5.6%, Germany
5.2%, UK 4.3%, Thailand 4.2%
FDI Inflows 2008: US$46,722 million
2009: US$22,572 million
2010: US$32,472 million
FDI Outflows 2008: US$32,819 million
2009: US$18,426 million
2010: US$26,431 million
Best countries for doing business : 10
out of 183 countries
Global competitiveness ranking : 16
(ranking by country on a basis of 133, the first is the best)
Country and Population Overview
Total population :
22.23 million
Total area :
7,692,024 km2
Capital : Canberra
Currency : Australian Dollars (AUD)
Internet
users as % of total population
: 76.00%
Payment history
Purchase Term
International : Prepayment, Credit 30-60 days
Sales Term
Local : Prepayment, Credit 30-60 days
International : Prepayment, Credit 30-60 days
Trade Reference/ Payment Behaviour
Comments : As local and international trade
references were not supplied, the Subject's payment track record history cannot
be appropriately determined but based on our research, payments are believed to
be met without delay.
Investigation Note
Sources : Interviews and material provided by the
Subject
: Other
official and local business sources
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.50.29 |
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UK Pound |
1 |
Rs.77.60 |
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Euro |
1 |
Rs.64.67 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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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%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.