MIRA
INFORM REPORT
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Report Date : |
12th March, 2007 |
IDENTIFICATION
DETAILS
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Name : |
LOST RIVER DIAMONDS PTY LTD |
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Formerly Known as: |
KEYPAIR PTY LTD |
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Registered Office : |
3rd Floor, 105 St Georges Terrace, Perth, W.A. 6000 |
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Country : |
Australia |
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Date of Incorporation : |
11.01.1995 |
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Com. Reg. No.: |
067 709 979 |
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Legal Form : |
Australian Proprietary Company, Limited By Shares |
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Line of Business : |
Importers and Wholesalers of diamonds and jewellery. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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REGISTERED NAME: |
LOST RIVER
DIAMONDS PTY LTD |
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AUSTRALIAN
COMPANY NUMBER: |
067 709 979 |
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AUSTRALIAN
BUSINESS NUMBER: |
38 067 709 979 |
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OPERATING
ADDRESS: |
3RD Floor, 105 St Georges Terrace, PERTH, W.A. 6000 |
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REGISTERED
ADDRESS: |
3RD Floor, 105 St Georges Terrace, PERTH, W.A. 6000 |
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OTHER TRADING
NAMES: |
Nil |
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TELEPHONE
NUMBER: |
(08) 9481 0526 |
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WEB SITE
ADDRESS: |
www.lostriverdiamonds.com |
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DATE OF
INCORPORATION: |
11 January 1995 – Incorporated in New South Wales. |
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CHANGE OF NAME: |
16 June 1999 - To present name. |
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PAID CAPITAL: |
$3 in $1 shares. |
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DIRECTORS: |
KATHERINE LYN
LEHMAN 3 Commercial Street, SOUTH FREMANTLE, W.A. 6162 JULIE ANN REANY 54 Parsons Avenue, MANNING, W.A. 6152 JAMES STANLEY
LEHMAN 3A Klem Avenue, SALTER POINT, W.A. 6152 |
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SHAREHOLDERS: |
Refer HISTORY |
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SECRETARY: |
JAMES STANLEY
LEHMAN |
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AUDITORS: |
Not shown |
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REGISTERED
CHARGES: |
Nil |
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PAYMENTS: |
30 days |
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LEGAL ACTIONS /
DEFAULTS: |
Nil |
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EMPLOYEES: |
4 as at June 2004. |
PARENT COMPANY
NIL
SUBSIDIARY COMPANIES
NIL
ASSOCIATE COMPANIES
LEHMAN INVESTMENTS
PTY LTD
ACTIVITIES
The subject operates as importers and wholesalers of diamonds and
jewellery.
Operations are conducted from premises situated at the
heading address.
The company does not have any branches.
The subject employed 4 in activities as at June 2004.
HISTORY
The subject was incorporated in New South Wales on 11 January 1995 as
Keypair Pty Ltd, adopting the present name on 16 June 1999, being an Australian
Proprietary Company, Limited By Shares.
Australian Company Number: 067 709 979.
Paid capital $3 in 3 shares paid to $1 each.
Shares are held by:
JAMES STANLEY LEHMAN 2
LEHMAN INVESTMENTS PTY LTD 1
The above information is in accordance with the last Company Statement
Annual lodged with the Australian Securities and Investments Commission and
compiled at report date.
Operations of the company were commenced 10 years ago.
The subject does not maintain any operating subsidiary or associate
concerns.
DIRECTORS
KATHERINE LYN
LEHMAN was born on 16 November 1970 and was appointed to the board of directors
on 30 July 2002.
JULIE ANN REANY was born on 29 May
1972 and was appointed to the board of directors on 30 July 2002.
JAMES STANLEY
LEHMAN was born on 19 May 1948 and was appointed to the board of directors on
13 January 1995. He is fully active in the day to day operations of the
company. He is also the Company Secretary, having been appointed to this
position on 13 January 1995.
BANK
COMMONWEALTH BANK OF AUSTRALIA
The bank does not hold a Registered Charge over company assets.
TRADING
Current trade references have been declined.
Following are details of a trade survey undertaken in June 2004:
- This account
varies between $3,000-$5,000 per month. The terms of the account are 30 days
with payment being met in 30 days. The account has been held for 5 years
and is a no problem and good account.
- This supplier
has declined to provide references as a matter of company policy.
As the subject is an importer, the company is not a major seeker of
local commercial credit.
FINANCE
Due to amendments to the Corporations Law by
the First Corporate Law Simplification Act 1995, subject is not required to
lodge financial statements with the Australian Securities & Investment
Commission.
disclose the following inquiries in relation
to finance applications:
On 29 April 2002 to GE Capital Finance Australia for Credit Card for an
amount of $1,000.
On 9 October 2000 to Lumley Finance Ltd NSW for Premium Finance.
Nothing further has been recorded.
REGISTERED CHARGES
There are no Registered Charges existing over the subject’s assets.
RECORDED ACTIONS
Nothing of an adverse nature has been recorded against the subject.
INVESTIGATION
An interview was conducted with the Financial Controller in March 2007.
At this time she declined all information in relation to the subject’s
activities, trading and financial position stating that if the name of the
enquirer is made known consideration would be given to providing the relevant
details.
An interview was conducted with Mr James S Lehman, Director and Company
Secretary, in June 2004. At that time he confirmed operational and trading
details, however declined all financial information as a matter of company
policy.
He did advise that premises at the heading address are leased.
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 South ales on 11 January 1995 as
Keypair Pty Ltd, adopting the present name on 16 June 1999, being an Australian
Proprietary Company, Limited By Shares.
Paid capital $3 in 3 shares paid to $1 each.
The subject operates as importers and wholesalers of diamonds.
One previous supplier contacted has reported monthly commitments being met
in 30 days on 30 day terms and is a good and no problem account.
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%)