MIRA
INFORM REPORT
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Report Date : |
1st March, 2007 |
IDENTIFICATION
DETAILS
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Name : |
STAR GEMS & JEWELLERY LIMITED |
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Registered Office : |
91 Eugenia Rise, Silkwood Heights, Manakau City, Auckland |
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Country : |
New Zealand (Aotearoa) |
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Date of Incorporation : |
24.09.2001 |
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Com. Reg. No.: |
1164026 |
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Legal Form : |
Limited Company |
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Line of Business : |
Importing and Wholesaling of gem stones. |
RATING &
COMMENTS
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MIRA’s Rating : |
NR (No Rating) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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NR |
In view of the
lack of information, we have no basis upon which to recommend credit dealings |
No Rating |
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Status : |
Undetermined |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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REGISTERED NAME: |
STAR GEMS &
JEWELLERY LIMITED |
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REGISTERED
NUMBER: |
1164026 |
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OPERATING
ADDRESS: |
8 Mana Place, Manakau City, AUCKLAND |
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REGISTERED
ADDRESS: |
91 Eugenia Rise, Silkwood Heights, Manakau City, AUCKLAND |
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OTHER TRADING
NAMES: |
Nil |
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TELEPHONE
NUMBER: |
(09) 261 2638 |
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WEB SITE
ADDRESS: |
www.stargems.biz |
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DATE OF
INCORPORATION: |
24 September 2001 – Incorporated in New Zealand |
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CHANGE OF NAME: |
Nil |
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PAID CAPITAL: |
$1,000 in $1 shares. |
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DIRECTORS: |
TILAK WADHWA 91 Eugenia Rise, Silkwood Heights, Manakau City, AUCKLAND UPASANA WADHWA 91 Eugenia Rise, Silkwood Heights, Manakau City, AUCKLAND |
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SHAREHOLDERS: |
Refer HISTORY |
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SECRETARY: |
Not shown |
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AUDITORS: |
Not shown |
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REGISTERED
CHARGES: |
Refer REGISTERED CHARGES |
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PAYMENTS: |
Refer TRADING |
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LEGAL ACTIONS /
DEFAULTS: |
Nil |
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EMPLOYEES: |
3 plus 1 director |
PARENT COMPANY
NIL
SUBSIDIARY COMPANIES
NIL
ASSOCIATE COMPANIES
NIL
ACTIVITIES
The subject undertakes the importing and wholesaling of gem
stones.
The company imports on a worldwide basis to include from
U.S.A., India, Israel, etc.
Operations are conducted from owned premises situated at the
heading address.
The company does not have any branches, however will be
opening a branch in Sydney, Australia in April 2007.
The subject employs 3 plus 1 director in activities.
HISTORY
The subject was incorporated in New Zealand on 24 September 2001 as Star Gems & Jewellery Limited.
Registered Number: 1164026.
Paid capital $1,000 in 1,000 shares paid to $1 each.
Shares are held
by:
TILAK WADHWA 1,000
The above information is in accordance with the last Annual Return
lodged with the New Zealand Companies Office on 26 September 2006 and compiled
at report date.
Operations of the company were commenced in November 2001.
The subject does not maintain any operating subsidiary or associate
concerns.
DIRECTORS
TILAK WADHWA was appointed to
the board of directors on 29 July 2003.
UPASANA WADHWA was appointed to
the board of directors on 17 December 2001.
BANK
BANK OF NEW ZEALAND
MANAKAU
The bank holds a Registered Charge over company assets. Please refer to
the REGISTERED CHARGE section for
details.
TRADING
Trade references in relation to the subject could not be provided, it
being stated that as the subject is an importer, the company is not a major
seeker of local commercial credit.
FINANCE
The subject has not lodged financial accounts with the New Zealand
Companies Office.
REGISTERED CHARGES
The following Registered Charge has been recorded over the subject’s
assets:
On 15 June 2004, Charge to Bank Of New Zealand, charging all present and
after acquired personal property.
Should
you require further details in relation to the above Charge a Registered Charge
Search can be undertaken.
The ‘Personal Property Securities Act 1999’ (PPSA) came into effect on 1
May 2002.
The PPSA has brought together registered charges that were historically
created under several different Acts, e.g. debentures registered pursuant to
the Companies Act and charges over specific assets registered pursuant to the
Chattels Transfer Act 1924.
Charges registered are called Security Interests.
The PPSA is also used by suppliers to register a charge over goods which
have been supplied to the subject in respect of which the supplier terms of
trade may previously have contained a “reservation of title” clause.
Charges over land are not registered under the PPSA and there may be
charges over land in the name of the subject.
There is also 1
Security Interest registered over goods – other and/or goods – motor vehicles.
RECORDED ACTIONS
Nothing of an adverse nature has been recorded against the subject.
INVESTIGATION
An interview was conducted with Mr Wadhwa, Director, in February 2007.
At this time he confirmed operational and trading details, however declined all
financial information as a matter of company policy.
It was advised that premises at the heading address are owned.
Enquiries made with trade sources failed to trace any additional
information in relation to the subject.
A Land Titles Search has not been undertaken to ascertain what land, if
any, stands in the subject’s name. This
can be undertaken on request.
CONCLUSION
The subject was incorporated in New Zealand on 24 September 2001 as Star Gems & Jewellery Limited.
Paid capital $1,000 in 1,000 shares paid to $1 each.
The subject undertakes the importing and wholesaling of gem
stones.
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 |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
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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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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