MIRA INFORM REPORT

 

 

Report Date :           

23.04.2011

 

IDENTIFICATION DETAILS

 

Name :

SALERA JEWELLERY MFG PTY LTD

 

 

Formerly Known As :

Roner P/L

 

 

Registered Office :

152 Swanston St, Melbourne, Vic 3000

 

 

Country :

Australia

 

 

Date of Incorporation :

09.05.1990

 

 

Legal Form :

Proprietary Company

 

 

Line of Business :

import and purchasing arm of the group

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Unknown

 

 

Litigation :

Clear

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

ECGC Country Risk Classification List – December 31, 2010

 

Country Name

Previous Rating

                   (30.09.2010)                  

Current Rating

(31.12.2010)

Australia

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

REGISTERED NAME      

 

SALERA JEWELLERY MFG PTY LTD

ACN: 007 403 652

       

CREDIT REQUEST                    USD 20,000

 

 

CORPORATE SEARCH

 

Incorporation Date:                     09 May 1990

 

Incorporation State:                    Victoria

 

Registered Office                       152 Swanston St

                                                MELBOURNE, VIC 3000

 

Number of Shares Issued:           12

 

Paid Capital:                              12

 

Shareholders                             ALFREDO SALERA

                                                Number of Shares: 6

 

ALFMIRE NOMINEES PROPRIETARY LIMITE

Number of Shares: 6

 

Directors                                   SALERA, ROBERT

Appointment Date: 21 Apr 1994

Date of Birth: 23 Jun 1963

Gender: Male

Address: 20 GOSS Terrace WILLIAMSTOWN, Victoria 3016 Australia

Resident Overseas: No

 

SALERA, FRANK

Appointment Date: 21 Apr 1994

Date of Birth: 04 Apr 1959

Gender: Male

Address: 401 THE BOULEVARD IVANHOE EAST, Victoria 3079 Australia

Resident Overseas: No

 

Secretary                                  FRANK SALERA

                                                Appointment Date: 21 Apr 1994

 

BUSINESS STRUCTURE

 

TRADING ADDRESS     154 to 156 Swanston St

                                    MELBOURNE, VIC 3000

 

TELEPHONE                 (613) 9654 6014

 

BRANCHES                  The Group maintains 22 retail branches across Victoria and Queensland.  

 

ASSOCIATED ENTITY   SALJEWEL P/L

 

BANK                           NATIONAL AUSTRALIA BANK   

                                               

EMPLOYEES                over 100 (GROUP)

 

           

BACKGROUND

 

The subject was incorporated in Victoria on 9 May 1990 as Roner P/L, before adopting the current style on 24 May 1991.

 

Group operations have been established for over 50 years.

                       

 

OPERATIONS

 

The subject operates in the import and purchasing arm of the group.

 

The group operates as imports and retailers of jewellery and related products.

 

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

 

 

ADVERSE

                                               

A search of records 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 investigation contact with the subject’s financial controller Latichia was unable to be established. Despite numerous messages being left no reply has been received. Eventually it was requested that an email be sent to her at info@salera.com.au. An email was sent, however no reply has been received.

 

Subsequently details pertaining to the subject’s financial and trading position were unable to be obtained for the current enquiry.

 

 

TRADE SURVEY

 

During the current investigation, contact with the subject’s principals was unable to be established.

 

Subsequently details pertaining to the company’s suppliers were unable to be obtained and a trade survey could not be conducted.

 

 

SUMMARY

 

The subject was incorporated in Victoria on 9 May 1990 as Roner P/L, before adopting the current style on 24 May 1991.

 

Group operations have been established for over 50 years.

                       

Details pertaining to the subject’s financial position were unable to be obtained for the current enquiry.

 

In view of the above in our opinion a credit exposure of USD 20,000 is unreasonable.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.30

UK Pound

1

Rs.72.92

Euro

1

Rs.64.69

 

 

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

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

 

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

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.