MIRA INFORM REPORT
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Report Date : |
20.01.2012 |
IDENTIFICATION DETAILS
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Name : |
PLUS PAK PTY. LTD. |
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Registered Office : |
430 Lysterfield Road, Lysterfield, Victoria , Zip/postal code 3156 |
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Country : |
Australia |
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Date of Incorporation : |
28.06.1989 |
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Com. Reg. No.: |
007264913 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Importer and distributor of packaging products for packing commercial and industrial products |
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No. of Employees : |
10 |
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 : |
Moderate |
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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 : PLUS PAK PTY. LTD.
Business address : Factory 4, 34-36 Buckland Street
Town : Clayton
Province : Victoria
Zip/postal code : 3168
Country : Australia
Tel : +61 3 95444641
Fax : +61 3 95440711
Email : info@pluspak.com.au
Website : www.pluspak.com.au
Registered address : 430 Lysterfield Road
Town : Lysterfield
Province : Victoria
Zip/postal code : 3156
Country : Australia
Summary details
Executive Summary
Date founded or registered : 28/06/1989
Legal form : Australian Proprietary Company
Chief executive : Alfred John Gauci
Issued & paid up capital : AUD 2
Sales turnover : AUD 4,000,000 (Estimated
Non-consolidated 12 months, 30/06/2011)
Line of business :
Importer and distributor of packaging
products for packing commercial and industrial products.
Staff employed : 10 employees
Credit risk opinion
Company Analysis
Country risk : Country risk is minimal
Operation trend : Operational trend is steady
Management experience : Management is adequately experienced
Financial performance : Financial performance is fair
Organization structure : Organizational structure is stable
Detrimental records : No detrimental records found
Payment history : No payment delays noted
Credit amount suggestion : USD 180,000
Credit amount asked : USD 150,000
Statutory details
Registry Data
Registration date : 28/06/1989
Legal form : Australian Proprietary Company
Registration no : Australian Company Number: 007264913
Registered authority : Australian Securities & Investments Commission
Fiscal/ Tax no : Australian Business Number: 61007264913
Registry status : Live/Active
Previous name : None reported.
Change of legal form : None reported.
Management / directors
Key Management
Name : Alfred John Gauci
Designation : Managing Director
Name : Shawn Li
Designation : Operation Manager
Board of directors / other
appointments
Appointments
Name : Alfred
John Gauci
Designation : Director and Company Secretary
Appointment date : 05/07/89
Address : 430
Lysterfield Road
Lysterfield, VIC 3156
Biography : Born
on 10-04-1959 in Marsascala, Malta.
Staff employed : 10 employees
Share capital
Composition
Authorized Capital : AUD 2
No of shares : 2 Ordinary Shares
Share par value : AUD 1
Issued capital : AUD 2
Paid up capital : AUD 2
ownership / shareholders
How listed : Full List
Composition
Shareholder name Alfred John Gauci
Address 430 Lysterfield Road
Lysterfield, VIC 3156
Australia
No. of shares 1 Ordinary Share
% of shares 50%
Shareholder name : Ediemay Vonita Gauci
Address : 430 Lysterfield Road
Lysterfield, VIC 3156
Australia
No. of shares : 1 Ordinary Share
% of shares : 50%
Related companies & corporate Affiliations
Structure
Related companies
and corporate affiliations comments : None Reported
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
Satisfied Charges:
ASIC Charge Number: 940014
Date Registered: 02-05-2003
Charge type: Both Fixed & Floating
Date Created: 14-03-2003
Chargees Name: COMMONWEALTH BANK OF AUSTRALIA
ASIC Charge Number: 947900
Date Registered: 03-06-2003
Charge type: Both Fixed & Floating
Date Created: 28-05-2003
Chargees Name: COMMONWEALTH BANK OF AUSTRALIA
Unsatisfied
Charges:
ASIC Charge Number: 1216765
Date Registered: 11-10-2005
Charge type: Both Fixed & Floating
Date Created: 16-01-2005
Chargees Name: COMMONWEALTH BANK OF AUSTRALIA
Legal Fillings
Bankruptcy fillings : None reported.
Court judgements : None reported.
Tax liens : None reported.
Others : None reported.
financial data
Description
Source of financial
statement : Provided by the Subject
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 : 4,000,000
Comments : The estimated turnover was provided by
Mr. Alfred John Gauci.
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 $12.5 million, and
-The company
and any entities it controls have fewer than 50 employees at the end of the
financial year.
Operation details
Main activities : The Subject is engaged in import and
distribution of packaging products for packing commercial and industrial
products.
The Subject
supplies packaging products to Australian supermarket chains, retailers and
manufacturers in the foodservices industry.
Some of
Subject’s clients are Coles, PFD Food Services, Dimmeys & Forges, Metcash, The
Reject Shop, Ritchies, Independent Supermarkets, The Warehouse, Food Works,
Chicken Feed, Drakes Supermarkets, Healthy Life, Maxi Supermarkets and Leo’S
Food & Wine Supermarkets.
Product & services : All kinds of plastic & paper
check-out bags, PE garbage bags & bin liners, PE pallet wrap films (machine
& hand wraps), PP Packing Tape, PE check-out bags, degradable carrier bags,
produce rolls, vegetable & meat films, disposable gloves, cutlery, drinking
straws and containers, white newsprint, grease proof paper, mushroom bags and
pallet wrap films - both hand grade & machine grade, laminated woven
shopping bags and
non-woven bags,
polymer coated paper cups, deluxe plastic & paper shopping bags
Purchases
International : China, Taiwan
Sales
Local : Yes
International : No exports.
Property & Assets
Premises : The Subject operates from premises
located at the verified heading address consisting of administrative office and
warehouse.
Branches : None reported.
Summarized country risk
Central bank : Reserve Bank of Australia
Reserve of foreign exchange & gold : US$ 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
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.