MIRA
INFORM REPORT
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Report Date : |
12.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
THE JEWELLERY GROUP PTY LTD |
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Registered Office : |
14, 182 Victoria Sq Adelaide, SA 5000 |
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Country : |
Australia |
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Date of Incorporation : |
01.05. 2007 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Retail of Jewellery and Associated Products through a Chain of Stores |
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
THE JEWELLERY GROUP PTY LTD
ACN: 124 077 729
ABN: 25 124
077 729
CORPORATE SEARCH
INCORPORATED 1
May 2007
REGISTERED ADDRESS 14,
182 Victoria Sq
ADELAIDE,
SA 5000
SHARECAPITAL $1
SHAREHOLDERS THE
JEWELLERY GROUP HOLDINGS P/L Holds
1
DIRECTORS WEIL, David James
225
Chesterfield Dr
BONOGIN,
QLD 4213
GUNN,
Lachlan Montagu
31
Edna St
LILYFIELD,
NSW 2040
RUSSELL,
Michael Lee
2
Ilford Rd
FRENCHES
FOREST, NSW 2086
PENKLIS,
George Emanuel
8
Fisher Ave
VAUCLUSE,
NSW 2030
DARVILLE,
Marcus Lopez
87
Baroona Rd
NORTHBRIDGE,
NSW 2063
SECRETARY GUNN,
Lachlan Mantagu Cairns
REGISTERED CHARGES None on record
BUSINESS STRUCTURE
TRADING ADDRESS 182
Victoria Sq
ADELAIDE,
SA 5000
TELEPHONE (618) 8228 4557
TRADING STYLE ZAMELS
SHEPPARDS
JEWELERS
VIVIANS
MAZZUCHELLIS
BRANCHES The
subject maintain 125 branches across Australia
HOLDING ENTITY THE
JEWELLERY GROUP HOLDINGS P/L
BANK NATIONAL
AUSTRALIA BANK
EMPLOYEES 1,000
(up to 1,300 during peak periods)
BACKGROUND
The subject was incorporated in Victoria on 1 March 2007 under the
current style.
The subject was formed to take over the assets and operations of Zamels
Pty Ltd effective 1 April 2007
OPERATIONS
The subject operates in the retail of jewellery and associated products
through a chain of stores.
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.
The subject was formed to take over the assets and operations of Zamels
Pty Ltd effective 1 April 2007.
During the current investigation, contact with Financial Controller Lachlan Gunn was unable to be established. Despite messages being left, no reply has been received.
Previous investigations revealed that for the last financial year ending 30 June 2008, the subject traded profitably and generate revenue of $150,000,000.
The subject maintains financing facilities with Quadrant Private Equity and BWA Custodians which are secured by registered charges.
Further details pertaining to the subjects financial position were unable to be obtained for the current enquiry.
TRADE SURVEY
During the current investigation, details pertaining to the subjects trade suppliers were unable to be obtained.
A trade survey on the subject was subsequently unable to be conducted.
SUMMARY
The subject was incorporated in Victoria on 1 March 2007 under the
current style.
The subject was formed to take over the assets and operations of Zamels
Pty Ltd effective 1 April 2007
For the last financial year ending 30 June 2008, the subject traded profitably
and generated revenue of $150,000,000.
The subject maintains financing facilities with Quadrant Private Equity
and BWA Custodians which are secured by registered charges.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.44 |
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UK Pound |
1 |
Rs.79.62 |
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Euro |
1 |
Rs.63.48 |
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%)