MIRA INFORM REPORT
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Report Date : |
20.07.2011 |
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 : |
Proprietary 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 |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment
Behaviour : |
Unknown |
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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
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Australia |
a1 |
a1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
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 MURPHY, Adrian
David
2,
96 Esplanade
HOVE,
SA 5048
GUNN,
Lachlan Montagu
12,
3 King St,
NARRABEEN,
NSW 2101
SECRETARY GUNN,
Lachlan Montagu Cairns
REGISTERED CHARGES Registered Charge
Number : 1436292
Date
Registered : 04.04.2007
Status : Fixed
and floating
Creditor : Quadrant
Private Equity
Registered
Charge Number : 1435617
Date
Registered : 03.04.2007
Status : Fixed
and floating
Creditor :
Bosi Security Services
BUSINESS STRUCTURE
TRADING ADDRESS Level 14, 182
Victoria Sq
ADELAIDE,
SA 5000
TELEPHONE (618) 8228 4557
TRADING STYLE ZAMELS
VIVIANS
MAZZUCHELLIS
BRANCHES The
subject maintain 130 branches across Australia
HOLDING ENTITY THE
JEWELLERY GROUP HOLDINGS P/L
BANK NATIONAL
AUSTRALIA BANK
EMPLOYEES 1,100
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 traced the following litigation listed against the subject at that date.
Court Actions
Date : 14.09.2010
Creditors name : Alex Lazarevich
Amount : $2340
Plaintiff No. : 0003970/10/ALCO
Association Code :
Companys Account
Court Code : Local Court Judgment
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 Melanie McLay was unable to be established. It was advised that she was not interested in being of any assist for the current enquiry and would not be responding to any correspondence.
As a result, details pertaining to the subjects trading and financial position were unable to be obtained for the current enquiry.
During a previous interview conducted with Director Lachlan Gunn, he advised that for the last financial year ended 30 June 2009 the subject traded profitably and recorded revenue of $139,000,000.
For the 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.
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 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.
Current financial and trading details pertaining to the subject were unable to
be obtained for the current enquiry.
For the financial year ended 30 June 2009 the subject traded profitably and recorded revenue of $139,000,000.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.59 |
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UK Pound |
1 |
Rs.71.62 |
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Euro |
1 |
Rs.62.78 |
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 |
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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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.