MIRA
INFORM REPORT
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Report Date : |
27.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
SAPPHIRE EXPORTS PTY LTD |
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Registered Office : |
3, 81 Elizabeth St Brisbane,
QLD 4000 |
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Country : |
Australia |
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Date of Incorporation : |
13.12.1974 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Traders of Diamond and Gem |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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. |
Small |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
REGISTERED NAME
SAPPHIRE EXPORTS PTY LTD
ACN: 009 932 389
ABN: 78 009 932 389
INCORPORATED
13 December 1974
REGISTERED ADDRESS
3, 81 Elizabeth St
BRISBANE, QLD 4000
SHARECAPITAL
$3,863,214
SHAREHOLDERS
AC JEWELS BVBA Holds
1,800 shares
DIRECTORS
SHAH,
Ankit Arun
Resident
overseas
SHAH,
Amit Arun
Resident
overseas
MELLERS,
Ronald Arnold
15 Carson
Dr
BUNYA,
QLD 4055
SECRETARY
MELLERS, Ronald
Arnold
15 Carson Dr
BUNYA, QLD 4055
REGISTERED CHARGES
Registered Charge Number : 1336460
Date Registered : 20.01.2003
Status : Fixed
and floating
Creditor : Westpac
Bank
BUSINESS STRUCTURE
TRADING ADDRESS 3rd
floor, 81 Elizabeth St
BRISBANE,
QLD 4000
TELEPHONE (617) 3229 12500
HOLDING ENTITY AC
JEWEL
BANK WESTPAC
BANKING CORPORATION
EMPLOYEES 15
BACKGROUND
The subject was incorporated in Queensland on 13 December 1974 to
commence operations under the current style as a new venture. disclose Share capital
of $3,863,214.
OPERATIONS
The subject operates as diamond and gem traders.
Activities are conducted from premises located at the above listed
trading address.
ADVERSE
A search of the records of Credit Advantage Limited 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.
The subject maintains
a financing facility with the Westpac Bank, which is secured by a registered
charge over certain fixed and floating assets of the company.
Enquiries in trade quarters revealed satisfaction from suppliers contacted in dealing with the subject on a credit basis.
TRADE SURVEY
During the current investigation only one supplier was provided for a reference. A trade survey on the subject traced the following accounts:
(Gary Williams Customs) Purchases average $2,000 per month on30 day terms. Payment is met in 30 days and the account is considered satisfactory, having been known over 5 years.
SUMMARY
The subject was incorporated in Queensland on 13 December 1974 to commence
operations under the current style as a new venture. Records disclose Share
capital of $3,863,214.
Details pertaining to the subject’s financial position were unable to be
obtained for the current enquiry.
Enquiries in trade quarters revealed satisfaction from suppliers
contacted in dealing with the subject on a credit basis.
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. |
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%)