MIRA INFORM REPORT
|
Report Date : |
03.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
PRIMARK |
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Registered Office : |
47 Mary Street, Dublin 1 216410 |
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Country : |
Ireland |
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Date of Incorporation : |
06.05.1974 |
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Com. Reg. No.: |
IE047371 |
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|
Legal Form : |
Private unlimited with Share Capital |
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Line of Business : |
Retail Sale Of Clothing |
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No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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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Status : |
Moderate |
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|
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Payment Behaviour : |
Unknown |
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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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Ireland |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
IRELAND - ECONOMIC
OVERVIEW
Ireland is a small, modern, trade-dependent
economy. Ireland was among the initial group of 12 EU nations that began circulating
the euro on 1 January 2002. GDP growth averaged 6% in 1995-2007, but economic
activity has dropped sharply since the onset of the world financial crisis,
with GDP falling by over 3% in 2008, nearly 7% in 2009, and less than 1% in
2010. Ireland entered into a recession in 2008 for the first time in more than
a decade, with the subsequent collapse of its domestic property and
construction markets. Property prices rose more rapidly in Ireland in the
decade up to 2007 than in any other developed economy. Since their 2007 peak,
average house prices have fallen 47%. In the wake of the collapse of the
construction sector and the downturn in consumer spending and business
investment, the export sector, dominated by foreign multinationals, has become
a key component of Ireland's economy. Agriculture, once the most important
sector, is now dwarfed by industry and services. In 2008 the COWEN government
moved to guarantee all bank deposits, recapitalize the banking system, and
establish partly-public venture capital funds in response to the country's
economic downturn. In 2009, in continued efforts to stabilize the banking
sector, the Irish Government established the National Asset Management Agency
(NAMA) to acquire problem commercial property and development loans from Irish
banks. Faced with sharply reduced revenues and a burgeoning budget deficit, the
Irish Government introduced the first in a series of draconian budgets in 2009.
In addition to across-the-board cuts in spending, the 2009 budget included wage
reductions for all public servants. These measures were not sufficient. In
2010, the budget deficit reached 32.4% of GDP - the world's largest deficit, as
a percentage of GDP - because of additional government support for the banking
sector. In late 2010, the former COWEN Government agreed to a $112 billion loan
package from the EU and IMF to help Dublin further increase the capitalization
of its banking sector and avoid defaulting on its sovereign debt. Since
entering office in March 2011, the KENNY government has intensified austerity
measures to try to meet the deficit targets under Ireland's EU-IMF program.
Ireland achieved moderate growth of 1.4% in 2011 and cut the budget deficit to
9.1% of GDP. Although the recovery slowed in 2012 because of weaker EU demand
for Irish exports, Dublin managed to trim the deficit to about 8.5% of GDP
REGISTERED NAME & COMPANY SUMMARY
|
Company
Name |
PRIMARK |
Company
Number |
IE047371 |
|
|
|
|
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Registered
Address |
47 MARY STREET |
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|
|
|
DUBLIN 1 |
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|
216410 |
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Website
Address |
- |
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Telephone
Number |
018727788 |
Fax
Number |
|
|
TPS |
No |
FPS |
No |
|
Incorporation
Date |
06/05/1974 |
Company
Status |
Financial Statements not filed / too old |
|
Previous
Name |
PRIMARK EXPORTS LIMITED |
Type |
Private unlimited with Share Capital |
|
Date
of Change |
- |
Filing
Date of Accounts |
- |
DIRECTORS/MANAGEMENT
|
Total Current Directors |
5 |
|
Total Current Secretaries |
1 |
|
Total Previous Directors / Company Secretaries |
10 |
Current
Directors
|
Name |
Date
of Birth |
21/06/1944 |
|
|
Officers
Title |
|
Nationality |
|
|
Present
Appointments |
4 |
Function |
Director |
|
Appointment
Date |
25/01/1988 |
|
|
|
Address |
53 LANDSDOWNE WOOD, DUBLIN 4 |
||
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|
|
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|
Name |
Date
of Birth |
19/07/1935 |
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|
Officers
Title |
|
Nationality |
|
|
Present
Appointments |
19 |
Function |
Director |
|
Appointment
Date |
31/05/1974 |
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|
|
Address |
60 LANSDOWNE ROAD, BALLSBRIDGE, DUBLIN 4 |
||
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Name |
Date
of Birth |
22/02/1968 |
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|
Officers
Title |
|
Nationality |
|
|
Present
Appointments |
2 |
Function |
Director |
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Appointment
Date |
01/01/2009 |
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|
Address |
SANTA MARIA, CUNNINGHAM ROAD, DALKEY, CO. DUBLIN |
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|
Name |
Date
of Birth |
21/09/1967 |
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Officers
Title |
|
Nationality |
|
|
Present
Appointments |
8 |
Function |
Director |
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Appointment
Date |
01/06/2010 |
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|
Address |
GLENDASAN HOUSE, CONVENT ROAD, DELGANY, CO.WICKLOW |
||
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Name |
Date
of Birth |
15/06/1967 |
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Officers
Title |
|
Nationality |
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|
Present
Appointments |
1 |
Function |
Director |
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Appointment
Date |
14/01/2011 |
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|
|
Address |
RED HOUSE, RIVERHEAD, SEVENOAKS, KENT TN13 3BI |
||
Previous Director/Company Secretaries
|
Name |
Current
Directorships |
Previous
Directorships |
|
2 |
17 |
|
|
5 |
26 |
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|
2 |
3 |
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|
0 |
1 |
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|
0 |
1 |
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|
26 |
17 |
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|
0 |
11 |
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|
0 |
9 |
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|
0 |
9 |
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|
1 |
1 |
NEGATIVE INFORMATION
CJ
|
Total
Number of Exact CJs - |
Total
Value of Exact CJs - |
||
|
Total
Number of Possible CJs - |
Total
Value of Possible CJs - |
||
|
Total
Number of Satisfied CJs - |
Total
Value of Satisfied CJs - |
Exact CJ Details
There are no exact CJ details
Possible CJ Details
There are no possible CJ details
Writ Details
There are no Writ Details
Mortgage Summary
|
Outstanding |
0 |
|
Satisfied |
0 |
SHARE & SHARE CAPITAL INFORMATION
Top 20 Shareholders
Name
|
Currency |
Share
Count |
Share
Type |
Nominal
Value |
|
SIZZLERS |
EUR |
2 |
ORDINARY |
1.27 |
|
A.B.F.
NOMINEES LTD |
EUR |
1 |
ORDINARY |
1.27 |
Unable to report percentage holdings as filed Shareholder
listing is not full.
|
Share
Capital |
€4 |
PAYMENT INFORMATION
Payment Information Summary
|
Days Beyond Terms |
Trend Indicator |
Average
Payment Experience |
|
||||
|
Steady Improving Worsening |
Be the first to leave a payment experience
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Creditor Details
|
No Creditor Data |
|
Total
Value |
- |
Trade Debtors / Bad Debt Detail
|
No Debtor Data |
|
Total
Value |
- |
GROUP STRUCTURE & AFFILIATED COMPANIES
Statistics
|
Group
|
- |
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Linkages
|
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Countries
|
Summary
|
Holding
Company |
- |
|
Ownership
Status |
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|
Ultimate
Holding Company |
- |
Group structure
|
Business Owner Links
|
|
Business
Name |
Business
No |
Business
Status. |
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|
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||
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|
NORMAL |
FINANCIAL INFORMATION
Key Financials
|
No key Financials Registered |
FOREIGN EXCHANGE RATES
N/a
ADDITIONAL INFORMATION
|
SIC03
|
5242 |
|
SIC03
Description |
RETAIL SALE OF CLOTHING |
|
SIC07
|
47710 |
|
SIC07
Description |
RETAIL SALE OF CLOTHING IN SPECIALISED STORES |
|
Principal
Activity |
|
Current Company Secretary
|
Name |
Date
of Birth |
- |
|||
|
Officers
Title |
|
Nationality |
|
||
|
Present
Appointments |
1 |
Function |
Company Secretary |
||
|
Appointment
Date |
13/08/2001 |
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|
||
|
Address |
45 OAKLEIGH PARK SOUTH, LONDON N20 9JR, ENGLAND |
||||
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Auditors |
- |
|||
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Auditor Comments |
- |
|||
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Bankers |
- |
|||
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Bank Branch Code |
- |
|||
Status History
|
No Status History found |
Event History
|
Date |
Description |
|
|
28/03/2013 |
Annual Returns |
|
|
28/07/2012 |
Annual Returns |
|
|
15/07/2011 |
Annual Returns |
|
|
15/06/2011 |
SEAMUS MICHAEL HALFORD has left the board |
|
|
27/01/2011 |
PATRICK BRENDAN PRIOR has left the board |
|
|
14/01/2011 |
New Board Member (JOHN LYTTLE) appointed |
|
|
07/07/2010 |
Annual Returns |
|
|
01/06/2010 |
New Board Member (AIDAN HUGH SHIELDS) appointed |
|
|
16/07/2009 |
Annual Returns |
|
|
01/01/2009 |
New Board Member (PAUL JOHN MARCHANT) appointed |
|
|
07/07/2008 |
Annual Returns |
|
|
19/12/2007 |
BERNARD JOHN MICHAEL MANSFIELD has left the board |
|
|
05/01/2004 |
New Board Member (BERNARD JOHN MICHAEL MANSFIELD)
appointed |
|
|
13/08/2001 |
LYN RICHARDSON has resigned as company secretary |
|
|
13/08/2001 |
New Company Secretary (ROSALYN SHARON SCHOFIELD) appointed |
Previous Company Names
|
Date |
Previous
Name |
Companies
House Documents |
|
N/A |
PRIMARK EXPORTS LIMITED |
|
|
24/08/1987 |
PRIMARK LIMITED |
|
|
11/01/1977 |
PRIMARK EXPORTS |
NOTES & COMMENTS
N/a
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.73 |
|
|
1 |
Rs.83.54 |
|
Euro |
1 |
Rs.70.71 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.