MIRA
INFORM REPORT
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Report Date : |
17.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
JASMINE AUSTRALIA PTY LTD |
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Registered Office : |
55 Doggett St Newstead,
QLD 4006 |
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Country : |
Australia |
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Date of Incorporation : |
22.02.1995 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Import, Design and Wholesale of Jewellery. |
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
JASMINE AUSTRALIA PTY LTD
ACN: 068 331 402
INCORPORATED
22 February 1995
REGISTERED ADDRESS
55 Doggett St
NEWSTEAD, QLD 4006
SHARECAPITAL
$100
SHAREHOLDERS
BISHOP, Wallace Holds
99 shares
BISHOP, Janette Elizabeth Holds
1 share
DIRECTORS
BISHOP, Stuart
Wallace
179 Laurel Ave
CHELMER,
QLD 4068
BISHOP, Janette Elizabeth
105, 53b Newstead Tce
NEWSTEAD, QLD 4006
BISHOP, Wallace
105, 53b Newstead Tce
NEWSTEAD, QLD 4006
SECRETARY
WINTERBURN, Ian Roger
REGISTERED CHARGES
None on record
BUSINESS STRUCTURE
TRADING ADDRESS 49
Commercial Rd
NEWSTEAD,
QLD 4006
TELEPHONE (617) 3253 5666
FACSIMILE (617) 3252
5672
ASSOCIATED ENTITY WALLACE
BISHOP P/L – maintains over 40 retail stores
across
Australia
BANK ANZ
BANKING GROUP
EMPLOYEES 100
450
(group)
BACKGROUND
The subject was incorporated in Queensland on 22 February 1995 under the
current style.
Group operations were
founded as a new venture in 1917 by the Bishop family.
OPERATIONS
The subject operates in the import, design and wholesale of jewellery.
Activities are conducted from premises located at the above listed
trading address.
ADVERSE
A search of the 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, he 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.
Records reveal that for the financial year ended 30 June 2007 Wallace Bishop P/L (the associated entity) recorded a 22% increase in revenue to $88,692,989, which resulted in an operating profit before tax of $8,463,998 and an operating profit after tax of $5,889,758 representing a Net Profit Margin of 6.6 %.
In regards to asset backing, the subject is noted to own the premises
located at the above listed trading address. A property search can be conducted
at your request to confirm ownership.
Enquiries in trade quarters revealed satisfaction from suppliers
contacted in dealing with the subject on a credit basis.
TRADE SURVEY
A trade survey on the subject traced the following accounts:
- (Peter Beck) Purchases average more than $20,000 per month on 30
day terms. Payment is met in 30 days and the account is considered
satisfactory, having been known over 5 years.
- (The Swatch Group)Nominated supplier failed to respond to
correspondence despite chasing.
SUMMARY
The subject was incorporated in Queensland on 22 February 1995 under the current style.
Group operations were founded as a new venture in 1917 by the Bishop family.
Details pertaining to the subject’s financial position were unable to be obtained for the current enquiry.
Records reveal that for the financial year ended 30 June 2007 Wallace Bishop P/L (the associated entity) recorded a 22% increase in revenue to $88,692,989, which resulted in an operating profit before tax of $8,463,998 and an operating profit after tax of $5,889,758 representing a Net Profit Margin of 6.6 %.
In regards to asset backing, the subject is noted to own the premises located at the above listed trading address. A property search can be conducted at your request to confirm ownership.
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%)