MIRA INFORM REPORT

 

 

Report Date :

16.02.2011

 

IDENTIFICATION DETAILS

 

Correct Name :

AUSTRALIAN DIAMOND TRADING CORPORATION PTY LTD

 

 

Registered Office :

27, 150 Lonsdale St, Melbourne, Vic 3000

 

 

Country :

Australia

 

 

Date of Incorporation :

14.02.1997

 

 

Legal Form :

Proprietary Company

 

 

Line of Business :

import and wholesale of diamonds

 

 

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 – June 30, 2010

 

Country Name

Previous Rating

                   (01.04.2010)                  

Current Rating

(30.06.2010)

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      

 

AUSTRALIAN DIAMOND TRADING CORPORATION PTY LTD

ACN: 077 466 614

 

 

ADDRESS GIVEN

227 Collins ST

MELBOURNE, VIC 3000

 

           

CORPORATE SEARCH

 

INCORPORATED                       14 Feb 1997

 

REGISTERED ADDRESS           27, 150 Lonsdale St

                                                MELBOURNE, VIC 3000

 

SHARECAPITAL                                    $100                

 

SHAREHOLDERS                     GOLD LEVEL INVESTMENTS    Holds 50 shares

                                                BELBOURNE P/L                                  Holds 50 shares

 

DIRECTORS                              KIVEN, Ronald Lawrence           

                                                31 Lumeah Rd

                                                CAULFIELD NORTH, VIC 3161

 

                                                IVANY, Paul Harry        

                                                11 Fulham Ave

                                                SOUTH YARRA, VIC 3141

                                                                                                                                   

SECRETARY                            IVANY, Paul Harry        

                                                11 Fulham Ave

                                                SOUTH YARRA, VIC 3141

 

REGISTERED CHARGES          Registered Charge Number     : 1183608

                                                Date Registered             : 15.07.2005

                                                Status                                       : Fixed and floating

                                                Creditor                                     : ANZ Banking Group

 

           

BUSINESS STRUCTURE

 

TRADING ADDRESS                 Level 13, 227 Collins ST

                                                MELBOURNE, VIC 3000                                   

 

TELEPHONE                             (613) 9639 9844

 

TRADING STYLE                       ADTC

 

HOLDING ENTITY                      BELMOURNE P/L

 

BANK                                       HSBC BANK AUSTRALIA

                                                ANZ BANKING GROUP

                                               

EMPLOYEES                            18

 

           

BACKGROUND

 

The subject was incorporated in Victoria on 14 February 1997 to commence operations under the current style.

 

Operations have been established for 20 years.

 

 

OPERATIONS

 

The subject operates in the import and wholesale of diamonds.

 

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

 

 

ADVERSE

                                               

A search of 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 David, 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

 

The subject maintains a financing facility with the ANZ Bank, which is secured by a registered charge over certain fixed and floating assets of the company.

 

Enquiries in trade quarters revealed satisfaction from one supplier contacted in dealing with the subject on a credit basis.

 

TRADE SURVEY

 

A trade survey on the subject traced the following accounts:

 

1.                   (Toner Charge Plus) Purchases average $1,000 $per month on 30 day terms. Payment is met in 30 to 35 days and the account is considered satisfactory, having been known since 2000.

 

 

SUMMARY

 

The subject was incorporated in Victoria on 14 February 1997 to commence operations under the current style.

 

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

 

The subject maintains a financing facility with the ANZ Bank, which is secured by a registered charge over certain fixed and floating assets of the company.

 

Enquiries in trade quarters revealed satisfaction from one supplier contacted in dealing with the subject on a credit basis.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.50

UK Pound

1

Rs.73.07

Euro

1

Rs.61.63

 

 

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.