MIRA INFORM REPORT

 

 

Report No. :

324576

Report Date :

04.06.2015

 

IDENTIFICATION DETAILS

 

Name :

BETA MEMORIALS PTY LTD

 

 

Registered Office :

Rockland Business Services, 9 Pannikin Street, Rochedale South, QLD 4123

 

 

Country :

Australia

 

 

Date of Incorporation :

13.08.1999

 

 

Legal Form :

Australian Proprietary Company

 

 

Line of Business :

Subject is  engaged in import and wholesale of marble and granite monuments and memorials products.

 

 

No. of Employee :

5

 

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 – December 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

Australia

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

AUSTRALIA - ECONOMIC OVERVIEW

 

The Australian economy has experienced continuous growth and features low unemployment, contained inflation, very low public debt, and a strong and stable financial system. By 2014, Australia had experienced more than 20 years of continued economic growth, averaging more than 3% a year. Demand for resources and energy from Asia and especially China has grown rapidly, creating a channel for resources investments and growth in commodity exports. The high Australian dollar has hurt the manufacturing sector, while the services sector is the largest part of the Australian economy, accounting for about 70% of GDP and 75% of jobs. Australia was comparatively unaffected by the global financial crisis as the banking system has remained strong and inflation is under control. Australia has benefited from a dramatic surge in its terms of trade in recent years, stemming from rising global commodity prices. Australia is a significant exporter of natural resources, energy, and food. Australia's abundant and diverse natural resources attract high levels of foreign investment and include extensive reserves of coal, iron, copper, gold, natural gas, uranium, and renewable energy sources. A series of major investments, such as the US$40 billion Gorgon Liquid Natural Gas project, will significantly expand the resources sector. Australia is an open market with minimal restrictions on imports of goods and services. The process of opening up has increased productivity, stimulated growth, and made the economy more flexible and dynamic. Australia plays an active role in the World Trade Organization, APEC, the G20, and other trade forums. Australia has bilateral free trade agreements (FTAs) with Chile, Malaysia, New Zealand, Singapore, Thailand, and the US, has a regional FTA with ASEAN and New Zealand, is negotiating agreements with China, India, Indonesia, Japan, and the Republic of Korea, as well as with its Pacific neighbors and the Gulf Cooperation Council countries, and is also working on the Trans-Pacific Partnership Agreement with Brunei Darussalam, Canada, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore, the US, and Vietnam.

 

Source : CIA

 

 

Company NAME

 

BETA MEMORIALS PTY LTD

 

ACN: 089 083 376

ABN: 36 089 083 376

 

 

Summary Panel

 

Established

1999

 

Incorporated

1999

 

Line of Business

Import and distribution of monuments.

Status

Trading

Chief Executive Officer

Wendy Taylor

Adverse Listings

Nil

 

 

 

EXECUTIVE SUMMARY

 

For the last financial year ended 30 June 2014 the subject recorded revenue of $700,000 which resulted in an operating loss of $2,000 to $3,000.

 

A similar result is expected for the current financial year ending 30 June 2015.

 

The subject maintains no overdraft facilities as all operations are funded through the internal Cashflows of the company.

 

 

CORPORATE SEARCH

 

Company Type             Australian Proprietary Company

 

Incorporation State:     QLD

 

Incorporation Date:      13 AUG 1999

 

 

Registered Office

 

ROCKLAND BUSINESS SERVICES

9 PANNIKIN STREET,

ROCHEDALE SOUTH

QLD 4123

 

 

Current Directors

 

Total: 1

 

WENDY LOUISE TAYLOR – Appointed: 13 AUG 1999

25 MOOGARA Street SHAILER PARK, Queensland

DOB: 20 SEP 1964

 

 

Current Secretaries

 

Total: 1

 

WENDY LOUISE TAYLOR – Appointed: 13 AUG 1999

 

 

Share Structure - Classes

 

Total: 1

 

ORD ORDINARY SHARES: 1 – Amount paid: $1

 

 

Shareholders

 

Total: 1

 

ORD 1 - WENDY LOUISE TAYLOR

 

 

SECURITY INTERESTS  

 

Effective 30 January 2012 the Personal Property Securities Register (PPSR)  was introduced to give the different Commonwealth, State and Territory laws and registers regarding security interests in personal property under one national system.

 

As a result of PPS Reform a number of existing Commonwealth, State and Territory personal property security registers will close. Interests registered on existing security interest registers will be migrated to the national PPS Register. Subsequently Registered Charges are no longer lodged with the Australian Securities and Investments Commission (ASIC).

 

Please contact us should you require a search of the PPSR.

 

 

BUSINESS STRUCTURE

 

TRADING ADDRESS     16 Dulwich St

                                    LOGANHOLME, QLD 4129                                

 

TELEPHONE                 (617) 3806 2304

 

MOBILE                        0411 246 157

 

BANK                           COMMONWEALTH BANK OF AUSTRALIA

                                               

EMPLOYEES                5         

                                   

 

BACKGROUND

 

The subject was incorporated in Queensland on 13 August 1999 to commence operations under the current style as a new venture.

 

 

OPERATIONS

 

The subject operates in the import and wholesale of marble and granite monuments and memorials products.

 

Activities are conducted from premises located at the above listed trading address.

 

 

ADVERSE

                                               

A search of of on 27 May 2015 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 Manager, he confirmed the subjects search and operational details however declined to release any financial details for the current enquiry.

 

Previous investigations have revealed that for the last financial year ended 30 June 2014 the subject recorded revenue of $700,000 which resulted in an operating loss of $2,000 to $3,000.

 

The subject maintains no overdraft facilities as all operations are funded through the internal Cashflows of the company.

 

 

TRADE SURVEY

 

 

A trade survey on the subject traced the following accounts:

 

1.     (Nucom) Purchases average less than $1,000 per month on 30 day terms. Payment is met in 45 days and the account is considered satisfactory having been known since October 2008.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.85

UK Pound

1

Rs.98.12

Euro

1

Rs.71.28

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

ASH

 

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%)

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.