MIRA INFORM REPORT
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Report Date : |
21.12.2012 |
IDENTIFICATION DETAILS
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Name : |
BLUE STAR AND KIVEN DIAMONDS PTY LTD |
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Registered Office : |
C/O Knp Solutions Pty Ltd, 313 Glenferrie Road, Malvern,
Victoria, Zip/Postal Code 3144 |
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Country : |
Australia |
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Date of Incorporation : |
15.05.2012 |
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Com. Reg. No.: |
158352339 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Import & distribution of
jewellery, diamonds and precious stones |
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No. of Employees : |
02 employees |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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---- |
NB |
New Business |
---- |
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Status : |
New business |
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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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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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 |
Australia - ECONOMIC OVERVIEW
Australia's abundant and diverse natural resources attract high levels of foreign investment and include extensive reserves of coal, iron ore, copper, gold, natural gas, uranium, and renewable energy sources. A series of major investments, such as the US$40 billion Gorgon Liquid Natural Gas project, will significantly expand the resources sector. Australia also has a large services sector and is a significant exporter of natural resources, energy, and food. Key tenets of Australia''s trade policy include support for open trade and the successful culmination of the Doha Round of multilateral trade negotiations, particularly for agriculture and services. The Australian economy grew for 17 consecutive years before the global financial crisis. Subsequently, the former RUDD government introduced a fiscal stimulus package worth over US$50 billion to offset the effect of the slowing world economy, while the Reserve Bank of Australia cut interest rates to historic lows. These policies - and continued demand for commodities, especially from China - helped the Australian economy rebound after just one quarter of negative growth. The economy grew by 1.4% during 2009 - the best performance in the OECD - by 2.7% in 2010, and by 1.8% in 2011. Unemployment, originally expected to reach 8-10%, peaked at 5.7% in late 2009 and fell to 5.0% in 2011. As a result of an improved economy, the budget deficit is expected to peak below 4.2% of GDP and the government could return to budget surpluses as early as 2015. Australia was one of the first advanced economies to raise interest rates, with seven rate hikes between October 2009 and November 2010. The GILLARD government is focused on raising Australia''s economic productivity to ensure the sustainability of growth, and continues to manage the symbiotic, but sometimes tense, economic relationship with China. Australia is engaged in the Trans-Pacific Partnership talks and ongoing free trade agreement negotiations with China, Japan, and Korea.
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Source : CIA |
Verified Address
Subject name : BLUE STAR AND KIVEN DIAMONDS PTY
LTD
Business address : Level 2, 278 Collins Street
Town : Melbourne
Province : Victoria
Zip/postal code : 3000
Country : Australia
Tel :
+61 3 86488877
Fax : +61 3 96549210
Email : info@bskd.com.au
Website : www.bskd.com.au
Registered address : C/o KNP SOLUTIONS PTY LTD
313 Glenferrie Road
Town : Malvern
Province : Victoria
Zip/postal code : 3144
Country : Australia
Executive Summary
Date founded or registered : 15/05/2012
Legal form : Australian Proprietary Company
Chief executive : Ronald Lawrence Kiven
Issued & paid up capital : AUD 1,200
Line of business : Import & distribution of jewellery, diamonds and precious stones.
Staff employed : 2 employees
Company Analysis
Country risk : Country risk is minimal
Operation trend : Operational trend is in start-up phase
Management experience : Management is inadequately experienced
Financial performance : Financial performance is undetermined
Organization structure : Organizational structure is acceptable
Detrimental : No detrimental found
Payment history : No payment delays noted
Registry Data
Registration date : 15/05/2012
Legal form : Australian Proprietary Company
Registration no Australia Company Number: 158352339
Registered authority : Australian Securities and Investments Commission
Fiscal/ Tax no : Australia Business Number: 85158352339
Registry status : Live/Active
Previous name : None reported.
Change of legal form : None reported
Key Management
Name : Ronald Lawrence Kiven
Designation : Managing Director
Appointments
Name : Ronald Lawrence Kiven
Designation : Director
Appointment date : 15/05/12
Address : 31 Lumeah Road
Caulfield North, VIC 3161
Australia
Biography : Born on 28-12-1960 in Melbourne, Victoria, Australia.
Name : Arnav Mehta
Designation : Director
Appointment date : 31/07/12
Address : 10 Kamal Mahal
Carmichael Road, Cumballa Hill
Mumbai 400026
Maharashtra
India
Biography : Born on 02-01-1983 in India.
Staff employed : 2 employees
Composition
Authorized Capital : AUD 1,200
No of shares : 1,200 Ordinary Shares
Share par value : AUD 1
Issued capital : AUD 1,200
Paid up capital : AUD 1,200
How listed : Full List
Composition
Shareholder
name : BLUE STAR DIAMONDS AUSTRALIA
PTY LTD
Address : C/o KNP SOLUTIONS PTY LTD
313 Glenferrie Road
Malvern, VIC 3144
Australia
No. of shares
: 600 Ordinary Shares
% of shares : 50%
Shareholder
name : KIVEN DIAMONDS AUSTRALIA PTY
LTD
Address : C/o KNP SOLUTIONS PTY LTD
313 Glenferrie Road
Malvern, VIC 3144
Australia
No. of shares
: 600 Ordinary Shares
% of shares : 50%
Structure
Name : BLUE STAR DIAMONDS AUSTRALIA PTY LTD
Affiliation type : Shareholder
Address : C/o KNP SOLUTIONS PTY LTD
313 Glenferrie Road
Malvern, VIC 3144
Australia
Name : KIVEN DIAMONDS AUSTRALIA PTY LTD
Affiliation type : Shareholder
Address : C/o KNP SOLUTIONS PTY LTD
313 Glenferrie Road
Malvern, VIC 3144
Australia
Name : BLUE STAR DIAMONDS PVT. LTD.
Affiliation type : Associate
Address : CE 9010, 9th Floor,
Bharat Diamond Bourse, Tower 'C'
Bandra Kurla Complex, Bandra (East)
Mumbai 400 051
Maharashtra
India
Comments : Design, manufacture and distribution of jewellery, rough and polished diamonds
and precious stones.
Name : AURO MANUFACTURING PVT. LTD.
Affiliation type : Associate
Address : F P No. 37 / F P No. 65/B/2
Umiya chowk, Ashwinikumar Road
Varachha, Surat 395 008
India
Comments : Cutting and polishing of diamond
Bank Details
Name of bank : Commonwealth Bank of Australia
Address : Australia
Account details : Current Account
Comments : It is generally not the policy of local banks to provide credit status information to
non related parties, however interested parties would be advised to consult first
with the Subject if banker's references are required.
Mortgages : None reported.
Legal Fillings
Bankruptcy fillings : None reported.
Court judgements : None reported.
Tax liens : None reported.
Others : None reported.
Description
Comments : Due to the Subject’s recent date of establishment, financial information is not
available.
The Subject is classified as a small proprietary company by the Australian Securities & Investments Commission hence is not required to disclose their financial statement.
A proprietary
company is defined as small for a financial year if it satisfies at least two
of the following:
- The consolidated revenue for the financial year of the company and any entities it controls is less than $25 million;
-The value of the consolidated gross assets at the end of the financial year of the company and any entities it controls is less than $12.5 million, and
-The company and any entities it controls have fewer than 50 employees at the end of the financial year.
Main activities : The Subject engages in import & distribution of jewellery, diamonds and
precious stones.
Purchases
International : India, Hong Kong
Sales
Local : Yes
International : No exports.
Property &
Assets
Premises : The Subject operates from premises located at the verified heading
address consisting of an administrative office.
Branches : None reported.
Central bank : Reserve Bank of Australia
Reserve of foreign exchange & gold : US$ 43.879 billion
Gross domestic product – GDP : US$ 1.586 trillion
GPP (Purchasing power parity) : 954.296 billion of International dollars
GDP per capita - current prices : US$ 68,916
GDP - composition by sector : agriculture: 4% industry: 25.6% services: 70.4%
Inflation : 2009: 1.8%
2010: 2.8%
2011: 3.4%
Unemployment rate 2009: 5.6 %
2010: 5.2 %
2011:5.1 %
Public debt
(General Government gross
debt as a % GDP) 2009: 16.9%
2010: 20.4%
2011: 22.9 %
Government bond
ratings Standard
& Poor's: AAA-/Stable/A-1+
Moody's rating: Aaa
Moody's outlook: STA
Market value of publicly traded shares US$ 1.258 trillion
Largest companies in the country Commonwealth Bank (Banking), BHP Billiton (Materials), Westpac
Banking Group (Banking), Rio Tinto (Materials), National Australia Bank (Banking), ANZ Banking (Banking), Telstra (Telecommunications)
Trade & Competitiveness Overview
Total exports US$210.7
billion
Exports commodities coal,
iron ore, gold, meat, wool, alumina, wheat
Total imports US$187.2
billion
Imports commodities machinery and
transport equipment, computers and office machines, telecommunication equipment
and parts, crude oil and petroleum products
Export - major partners Japan 18.9%, China 14.2%, South Korea 8%, US 6%, NZ 5.6%, India
5.5%, UK 4.2%
Import - major partners China 15.5%, US 12.8%, Japan 9.6%, Singapore 5.6%, Germany
5.2%, UK 4.3%, Thailand 4.2%
FDI Inflows 2009: US$46,843 million
2009: US$25,716 million
2010: US$32,472 million
FDI Outflows 2008: US$33,604 million
2009: US$ 16,160 million
2010: US$26,431 million
Best countries for doing business : 10
out of 183 countries
Global competitiveness ranking : 20
(ranking by country on a basis of 142, the first is the best)
Country and Population Overview
Total population :
22.23 million
Total area :
7,692,024 km2
Capital : Canberra
Currency : Australian Dollars (AUD)
Internet users as % of total population :
76%
Purchase Term
International : Telegraphic transfer, D/P, Credit 60-90 days
Sales Term
Local : Prepayment, Bank transfer, D/P, Credit 60-90 days
Trade Reference/
Payment Behaviour
Comments : As local and international trade references were not supplied, the Subject's
payment track record history cannot be appropriately determined but based
on our research, payments are believed to be met without delay.
Investigation Note
Sources : Interviews and material provided by the Subject
Other official and local business sources
DIAMOND INDUSTRY –
INDIA
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From time immemorial, India is well known in the world
as the birthplace for diamonds. It is difficult to trace the origin of
diamonds but history says that in the remote past, diamonds were mined only in
India. Diamond production in India can be traced back to almost 8th
Century B.C. India, in fact, remained undisputed leader till 18th
Century when Brazilian fields were discovered in 1725 followed by emergence of
S. Africa, Russia and Australia.
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The achievement of the Indian diamond industry was
possible only due to combination of the manufacturing skills of the Indian
workforce and the untiring and unflagging efforts of the Indian diamantaires,
supported by progressive Government policies.
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The area of study of family owned diamond businesses
derives its importance from the huge conglomerate of family run organizations
which operate in the diamond industry since many generations.
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Some of the basic traits of family run business
enterprises include spirit of entrepreneurship, mutual trust lowers transaction
costs, small, nimble and quick to react, information as a source of advantage
and philanthropy.
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Family owned diamond businesses need to improve on
many fronts including higher standard of corporate governance, long-term
performance – focused strategies, modern management and technology.
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The diamond jewellery industry in India today may be
more than Rs 60000 mil and is rated amongst the fastest growing in the
world. Indi ranks third in the world in domestic diamond consumption.
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Utmost caution is to be exercised while dealing with
some medium and large diamond traders which are usually engaged in fictitious
import – export, inter-company transactions, financially assisted by banks. In
the process, several public sector banks lost several hundred million rupees.
They mostly diverted borrowed money for diamond business into real estate and
capital markets.
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Excerpts from Times of India dated 30th
October 2010 is as under –
DIAMOND SAGA – DIRTY DOZEN STUCK WITH 2K CR DEBT
This could
be the biggest credibility crisis the Indian diamond industry has ever faced.
Fifteen banks run the risk of losing Rs 2000 crore lent to a dozen diamond
firms in Surat. Until about two months ago, they had not repaid these
dues. Bankers believe many diamantaires borrowed money during the economic
downturn two years ago and diverted funds to businesses like real estate and
capital markets. Many of themselves made money from these businesses but their
diamond companies have gone sick and declared insolvency.
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Most of the money borrowed from the banks in the name
of their diamond business has been diverted in real estate and the share
market. The banks are not in a position to seize their properties because in
many cases, these were purchased in the name of their relatives and friends.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.54.84 |
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UK Pound |
1 |
Rs.89.11 |
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Euro |
1 |
Rs.72.47 |
INFORMATION DETAILS
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Report Prepared
by : |
MNL |
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.