MIRA INFORM REPORT

 

 

Report Date :

22.10.2007

 

IDENTIFICATION DETAILS

 

Name :

PROTEA DIAMONDS PTY LTD

 

 

Registered Office :

701, 155 Castlereagh St, Sydney, NSW 2000

 

 

Country :

Australia

 

 

Date of Incorporation :

19 May 1986

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Import and wholesale of diamonds.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

 

NAME GIVEN

 

TEMPTATION

 

 

SPECIAL NOTE   

 

During the current investigation it was advised that the correct legal entity is Protea Diamonds Pty Ltd

 

 

REGISTERED NAME

 

PROTEA DIAMONDS PTY LTD

 

 

ACN

 

003 101 380

 

 

ABN

 

53 003 101 380

 

 

INCORPORATED

 

19 May 1986

 

 

REGISTERED ADDRESS

 

701, 155 Castlereagh St

SYDNEY, NSW 2000

 

 

SHARECAPITAL 

 

$5,000             

 

 

SHAREHOLDERS

 

SOBEL, Robin                                       Holds 4,500 shares

MEYEROWITZ, Lawrence Alfred Holds 500 shares

 

 

DIRECTORS  

 

SOBEL, Mary Lou

1 Boronia Pl

BELLEVUE HILL, NSW 2023

 

MEYEROWITZ, Lawrence Alfred

Resident overseas

 

SOBEL, Robin

1 Boronia Pl

BELLEVUE HILL, NSW 2023

 

                                               

SECRETARY 

 

SOBEL, Robin

1 Boronia Pl

BELLEVUE HILL, NSW 2023

 

           

REGISTERED CHARGES

 

None on record

 

 

BUSINESS STRUCTURE

 

TRADING ADDRESS    

Suite 701, 155 Castlereagh St

SYDNEY, NSW 2000

TELEPHONE                 (612) 9267 5409

FACSIMILE                               (612) 9267 5441

 

 

BANK           

 

WESTPAC BANKING CORPORATION   

 

                                               

EMPLOYEES       

 

14

           

 

BACKGROUND

 

The subject was incorporated in New South Wales on 19 May 1986 under the current style.

 

Operations were established as a new venture in 1986.

 

                       

OPERATIONS

 

The subject operates in the import and wholesale of diamonds.

 

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

 

 

ADVERSE

                                               

A search of the 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 Financial Controller, she confirmed the subjects search and operational details, however declined to provide any financial information as a matter of strict company policy.

 

Subsequently details in this regard were unable to be obtained during the current investigation.

 

 

TRADE SURVEY

 

During the current investigation, it was advised that the subject import all requirements.

 

A trade survey on the subject was subsequently unable to be conducted.

 

 

SUMMARY

 

The subject was incorporated in New South Wales on 19 May 1986 under the current style.

 

Operations were established as a new venture in 1986.

                       

During the current investigation, details pertaining to the subject’s financial and trading position were unable to be obtained.

 

                                   

                                               

 

 

 

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

Unfavourable & favourable factors carry similar weight in credit consideration. 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

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

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