MIRA INFORM REPORT

 

 

Report Date :

01.08.2011

 

IDENTIFICATION DETAILS

 

Name :

J K INTERNATIONAL PTY LTD

 

 

Registered Office :

49 Suscatand St, Peakhurst, NSW 2210

 

 

Country :

Australia

 

 

Date of Incorporation :

28.03.1980

 

 

Legal Form :

Proprietary Company

 

 

Line of Business :

a Global Commodities Trading Company

 

 

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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

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      

 

J K INTERNATIONAL PTY LTD

ACN: 010 127 750

ABN: 49 010 127 750

 

 

CORPORATE SEARCH

 

INCORPORATED                       28 March 1980

 

REGISTERED ADDRESS           49 Suscatand St

                                                PEAKHURST, NSW 2210

 

SHARECAPITAL                        $50,000            

 

SHAREHOLDERS                     JK PROPERTIES P/L                 Holds 50,000

 

DIRECTORS                             MOHAN, Suman Bala

                                                55 Ham Rd

                                                MANSFIELD, QLD 4122

 

                                                MOHAN, Jiwan Kumar

                                                55 Ham Rd

                                                MANSFIELD, QLD 4122

                                                           

SECRETARY                             MOHAN, Suman Bala

                                                55 Ham Rd

                                                MANSFIELD, QLD 4122

           

REGISTERED CHARGES          Registered Charge Number     : 2044489

                                                Date Registered             : 09.09.2010

                                                Status                                       : Fixed and floating

                                                Creditor                                     : HSBC Bank Australasia

           

Registered Charge Number     : 1263877

                                                Date Registered             : 13.02.2006

                                                Status                                       : Fixed and floating

                                                Creditor                                     : BNP Paribas

 

Registered Charge Number     : 1217753

                                                Date Registered             : 13.10.2005

                                                Status                                       : Fixed and floating

                                                Creditor                                     : Suncorp Metway

 

BUSINESS STRUCTURE

 

TRADING ADDRESS                 49 Suscatand St

                                                PEAKHURST, NSW 2210                                  

 

TELEPHONE                             (617) 3274 1023

 

FACSIMILE                               (617) 3274 1367

 

HOLDING ENTITY                      JK PROPERTIES P/L

 

ASSOCIATED ENTITIES            JK MILLING P/L

                                                JK COMMODITIES P/L

                                                JK SHIPPING

                                               

BANK                                       SUNCORP METWAY

                                                BNP PARIBAS

                                                HSBC

                                               

EMPLOYEES                            50 to 60

 

           

BACKGROUND

 

The subject was incorporated in Queensland on 28 March 1980 to commence operations under the current style.

 

Group operations were established as a new venture in 1979.

 
DIRECTORS PROFILES            MOHAN, Suman Bala, Director was born on 22 October 1954 and was appointed to the subjects board on 25 August 1980. She maintains an active role in the subject’s daily operations.

                                               

                                                MOHAN, Jiwan Kumar Director was born on 13 December 1949 and was appointed to the subject’s board on 25 August 1980. He maintains an active role in the subject’s daily operations.
 

 

OPERATIONS

 

The subject operates as a global commodities trading company with a strong focus on Agricultural products and related goods.

 

Commodities traded included barley, edible oils, legumes, peas, spices, beans, fertilizers, lentils, pulses, steel, bird seeds, grains, oats, rice and sugar.

 

The subject has a Pea-Splitting and De-Hulling plant in Brisbane for the production of Chana Dhall from Chick Peas. The company has a milling facility in Horsham for the production of Dun Peas, Faba Beans, Broad Beans and Lentils.

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

 

 

ADVERSE

 

A search of the 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 is an Australian-owned, private company that derives the bulk of its revenue by exporting and importing a wide variety of foodstuff, specialising in legumes and pulses.

 

The subject has 8 associated offices worldwide and an extensive global network of agents and suppliers from Australia, Canada, United States of America, South America, Europe, Asia and other parts of the world.

 

During the current investigation, it was requested that all queries pertaining to the subject be forwarded in writing. An email was subsequently sent to Judy Smith on judy@jki.com.au.

 

Upon replying, Ms Smith advised that details pertaining to the subject would not be released for the current enquiry.

Further investigations have revealed that the subject generates annual revenue of $1.2 billion.

 

The subject is noted to be listed in the top 100 private companies in Australia based on revenue.

 

The subject maintains financing facilities with the Suncorp Metway, HSBC and BNP Paribas, which are secured by registered charges over certain fixed and floating assets of the company.

 

In regards to asset backing, the holding entity JK Properties P/L 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.

 

 

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 Queensland on 28 March 1980 to commence operations under the current style.

 

Group operations were established as a new venture in 1979.

 

Investigations have revealed that the subject generates annual revenue in the order of $1.2 billion.

 

In regards to asset backing, the holding entity JK Properties P/L is noted to own the premises located at the above listed trading address.

 

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

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.16

UK Pound

1

Rs.72.10

Euro

1

Rs.63.10

 

 

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.