MIRA
INFORM REPORT
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Report Date : |
22.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
TRANSWORLD ENTERPRISES PTY LTD |
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Registered Office : |
23 Compton St, Adelaide, S A 5000 |
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Country : |
Australia |
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Date of Incorporation : |
20.06.2001 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Retail and Repair of Jewellery and Watches |
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 : |
No Complaints |
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Litigation : |
Clear |
REGISTERED NAME
TRANSWORLD ENTERPRISES PTY. LIMITED
ACN: 097 267 966
ABN: 13 097 267 966
CORPORATE SEARCH
INCORPORATED 26 June 2001
REGISTERED ADDRESS 23
Compton St
ADELAIDE,
SA 5000
SHARECAPITAL $10
SHAREHOLDERS Shiels
Jewellers P/L Holds 10
shares
DIRECTORS BENSIMON,
Albert
151
Fisher St
MALVERN,
SA 5061
SECRETARY BENSIMON,
Albert
151
Fisher St
MALVERN,
SA 5061
REG’D CHARGES Registered Charge Number : 816842
Date
Registered : 20.08.2001
Status : Fixed
and floating
Creditor : National
Australia Bank
BUSINESS STRUCTURE
TRADING ADDRESS 25
Compton St
ADELAIDE,
SA 5000
TELEPHONE (618) 8110 4110
FACSIMIL (618)
8110 4197
HOLDING ENTITY SHEILS
JEWELLERS P/L
GROUP TRADING
STYLES SHIELS
JEWELLERS
GRAHAMS
JEWELLERS
GROUP BRANCHES The Group maintains around 38
branches across Australia.
BANK NATIONAL
AUSTRALIA BANK
Branch:
Adelaide, SA 5000
EMPLOYEES 350
BACKGROUND
The
subject was incorporated in South Australia on 26 June 2001 under the current
style.
Group operations were established by Jack Shiels in 1948.
OPERATIONS
The Group operates
in the retail and repair of jewellery and watches.
The subject operates as the purchasing arm for the group.
Activities are conducted from premises located at the above listed
trading address.
ADVERSE
A search of the of Credit Advantage Limited on 2 November 2007 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 John Hyne, he advised that the subject operates as the purchasing
arm for the group.
Mr. Hyne declined to provide any financial information pertaining to the
subject or the group for the current enquiry.
The subject maintains an overdraft facility with the National Australia
Bank, which is secured by a registered charge and is used to assist in funding
Working Capital requirements.
Enquiries in trade quarters revealed satisfaction from one supplier
contacted in dealing with the group on a credit basis.
TRADE SURVEY
A
trade survey on the subject traced the following accounts:
1. (Peter W Beck)
Purchases average $20,000 per month on 30 day terms. Payment is met in 30 days
and the account is considered satisfactory, having been known over 10 years.
2. (Seiko)
Nominated supplier failed to respond to correspondence despite chasing.
3. Nominated supplier failed to respond to
correspondence despite chasing.
SUMMARY
The
subject was incorporated in South Australia on 26 June 2001 under the current
style.
Group operations were established by Jack Shiels in 1948.
The subject operates as the purchasing arm for the group.
Details pertaining to the subjects financial position were unable to be
obtained for the current enquiry..=
Enquiries in trade quarters revealed satisfaction from one supplier
contacted in dealing with the group on a credit basis.
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FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.40 |
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UK Pound |
1 |
Rs.83.15 |
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Euro |
1 |
Rs.65.74 |
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%)