MIRA INFORM REPORT

 

 

Report Date :           

29.06.2011

 

IDENTIFICATION DETAILS

 

Name :

DSM (PACIFIC) PTY LTD

 

 

Registered Office :

910' Suite 909, 155 King Street, Sydney,  nsw 2000

 

 

Country :

Australia

 

 

Date of Incorporation :

22.02.2006

 

 

Legal Form :

Proprietary Company

 

 

Line of Business  :

import manufacture and distribution of jewellery and 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 :

No Complaints

 

 

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

 

 Bottom of Form

           

REGISTERED NAME 

 

DSM (PACIFIC) PTY LTD

ACN: 118 479 315

ABN: 93 118 479 315

 

           

CORPORATE SEARCH

 

Incorporation State: NSW

 

Incorporation Date: 22 FEB 2006

 

Registered Office

'- 910' SUITE 909,

155 KING STREET,

SYDNEY

NSW 2000

 

Registered Charges: 1

Both Fixed &Floating

WESTPAC BANKING CORPORATION (007457141)

1607301

Registered 18 MAR 2008

 

Current Directors Total: 2

 

ATUL PATEL – Appointed: 23 JUN 2010

192/99 WHITEMAN Street SOUTHBANK, Victoria

DOB: 03 DEC 1965

 

DARSHAN MEHTA – Appointed: 22 FEB 2006

662A/321 CASTLEREAGH Street SYDNEY, NSW

DOB: 27 MAR 1980

 

Current Secretaries Total: 1

 

DARSHAN MEHTA – Appointed: 22 FEB 2006

 

Share Structure - Classes Total: 1

 

ORD ORDINARY: 500100 – Amount paid: $500,100

 

Shareholders Total: 1

 

ORD 500100 - DARSHAN MEHTA

 

BUSINESS STRUCTURE

 

TRADING ADDRESS                 SUITE 909 & 910

                                                LEVEL 9

                                                155 King St

                                                SYDNEY, NSW 2000                            

 

TELEPHONE                             (612) 9232 1410

 

FACSIMILE                               (612) 9232 1412

 

BANK                                       WESTPAC BANKING CORPORATION

                                                           

EMPLOYEES                            7         

 

 

BACKGROUND

 

The subject was incorporated in New South Wales on 22 February 2006 to commence operations under the current style as a new venture.

 

 

OPERATIONS

 

The subject operates in the import manufacture and distribution of jewellery and 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 Director Darshan Mehta he advised that for the last financial year ended 30 June 2010 the subject traded profitably and recorded revenue of $8,000,000.

 

Current assets include stock on hand of $4,000,000 to $5,000,000 and receivables of $2,000,000.

 

The subject maintains a financing facility with the Westpac Bank which is used to assist in funding Working capital requirements.

 

Current liabilities include creditors of $1,700,000.

 

In regards to asset backing, the subject 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.

 

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

 

 

TRADE SURVEY

 

A trade survey on the subject traced the following accounts:

 

1.         (Diasqua Pacific) Purchases average $10,000 to $15,000 per month on 30 day terms. Payment is met in 30 to 45 days and the account is considered satisfactory having been known for 5 years.

 

2.         (Superior Diamonds) Nominated supplier failed to respond to correspondence despite chasing.

 

 

SUMMARY

 

The subject was incorporated in New South Wales on 22 February 2006 to commence operations under the current style as a new venture.

 

For the last financial year ended 30 June 2010 the subject traded profitably and recorded revenue of $8,000,000.

 

The subject maintains a financing facility with the Westpac Bank which is used to assist in funding Working capital requirements.

 

In regards to asset backing, the subject is noted to own the premises located at the above listed trading address.

 

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

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.05

UK Pound

1

Rs.71.92

Euro

1

Rs.64.37

 

 

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

----

NB

New Business

----

 

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.