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Report Date : |
02.06.2012 |
IDENTIFICATION DETAILS
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Name : |
BEVILLES
PTY. LTD. |
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|
|
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Registered Office : |
Level
3, |
|
|
|
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Country : |
|
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|
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Date of Incorporation : |
25.06.1974 |
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|
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Com. Reg. No.: |
005064308 |
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|
|
Legal Form : |
Australian Proprietary Company |
|
|
|
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Line of Business : |
Engaged
in retail sales of jewellery, diamonds, gemstones, watches, homewares and
giftwares. |
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|
|
|
No. of Employees : |
600 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
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, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Australia |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Verified Address
Subject
name : BEVILLES
PTY. LTD.
Other
style / Business name : BEVILLES
JEWELLERS
Business
address : Level
3, 257 Collins Street
Town :
Melbourne
Province
: Victoria
Zip/postal
code : 3000
Country
: Australia
Tel : +61
3 86659900
Fax : +61
3 86659955
Email
: sales@bevilles.com.au
Website
: www.bevilles.com.au
Registered
address : Level
3, 257 Collins Street
Town :
Melbourne
Province
: Victoria
Zip/postal
code : 3000
Country
: Australia
Postal
address : P.O.
Box 232
Town :
Flinders
Lane
Province
: Victoria
Zip/postal
code : 8009
Country
: Australia
Executive Summary
Date
founded or registered : 25/06/1974
Legal
form : Australian
Proprietary Company
Chief
executive : Michelle
Beville-Stanton
Issued
& paid up capital : AUD
100,002
Sales turnover : AUD
35,000,000 (Estimated Non-consolidated 12 months, 30/06/2011)
Line of business : Retail
sales of jewellery, diamonds, gemstones, watches, homewares and giftwares.
Staff
employed : 600
employees
Country
risk : Country
risk is minimal
Operation
trend : Operational
trend is steady
Management
experience : Management is
adequately experienced
Financial
performance : Financial
performance is good
Organization
structure : Organizational structure
is stable
Detrimental
: No detrimental records found
Payment
history : No payment
delays noted
Registry Data
Registration
date : 25/06/1974
Legal
form : Australian
Proprietary Company
Registration
no Australian Company Number: 005064308
Registered
authority : Australian
Securities & Investments Commission
Fiscal/
Tax no : Australian
Business Number: 16005064308
Registry
status : Live/Active
Previous
name : DARM
PTY. LTD. (initial)
Change
of legal form : None
reported.
Other registration : BEVILLES
JEWELLERS is a business name owned by the Subject registered
under
business registration no: NSW
BN97713086, SA BN04265350, QLD
BN19830580, ACT F 00123178, VIC 1272742D.
Key Management
Name :
Michelle
Beville-Stanton
Designation
: Chief
Executive Officer
Name :
Gary
Beville
Designation
: General
Manager
Name :
Tony
Sprogis
Designation
: Chief
Financial Officer
Name :
Kylie
Artavilla
Designation
: Training
Manager
Appointments
Name :
Keith
Robert Beville
Designation
: Director
and Company Secretary
Appointment
date : 25/06/74
Address
: 11
Whernside Avenue
Toorak, VIC 3142
Australia
Biography
: Born
on 10-11-1934 in Sydney, New South Wales, Australia.
Staff
employed : 600
employees
Composition
Authorized
Capital : AUD 100,002
No of
shares : 100,002
Ordinary Shares
Share
par value : AUD 1
Issued
capital : AUD
100,002
Paid
up capital : AUD
100,002
How
listed : Full
List
Composition
Shareholder
name : BEREICH PTY.
LTD.
Address
: Level
3, 257 Collins Street
Melbourne, VIC 3000
Australia
No. of
shares : 100,002
Ordinary Shares
% of
shares : 100%
Structure
Name :
BEREICH
PTY. LTD.
Affiliation
type : Parent
Company
Address
: Level
3, 257 Collins Street
Melbourne, VIC 3000
Australia
Name :
ROMEO
ART PTY LTD
Affiliation
type : Associate
Address
: Level
3, 257 Collins Street
Melbourne, VIC 3000
Australia
Name :
BEVILLES
SUPER PTY. LTD.
Affiliation
type : Associate
Address
: Level
3, 257 Collins Street
Melbourne, VIC 3000
Australia
Name :
BEVILLES
PARTY PLAN PTY LTD
Affiliation
type : Associate
Address
: Level
3, 257 Collins Street
Melbourne, VIC 3000
Australia
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
: Satisfied
Charges:
ASIC
Charge Number: 393973
Date
Registered: 15-07-1993
Charge
type: Fixed
Date
Created: 10-06-1993
Chargees
Name: ROYAL
AUSTRALIA FINANCE LIMITED
ASIC
Charge Number: 542453
Date
Registered: 11-06-1996
Charge
type: Fixed
Date
Created: 10-05-1996
Chargees
Name: WI PREMIUM
FUNDING LIMITED
Unsatisfied
Charges:
ASIC
Charge Number: 325215
Date
Registered: 09-01-1992
Charge
type: Both
Fixed & Floating
Date
Created: 27-12-1991
Chargees
Name: COMMONWEALTH
BANK OF AUSTRALIA
Legal
Fillings
Bankruptcy
fillings : None
reported.
Court
judgements : None
reported.
Tax
liens : None
reported.
Others
: None
reported.
Description
Source
of financial statement : External
Sources
Financial
statement date : 30/06/11
Type
of accounts : Estimated
key figures
Currency
: Australia
Dollar (AUD)
Exchange
rate : 1
USD = AUD 1.03 as of 31-05-2012
Summarized Financial Information
Consolidation
type : Non
Consolidated
Currency
: Australia
Dollar (AUD)
Denomination
: (x1)
One
Date
of financial year end : 30/06/11
Length
of accounts : 12
months
Sale
turnover / Income : 35,000,000
Comments : 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 $12.5 million, and
-The
company and any entities it controls have fewer than 50 employees at the
end of
the financial year.
The
Subject meets all criteria to reveal their financial information however is
still
exempted
from filling their financial information by the Government of Australia.
Main
activities : The Subject is engaged in retail sales of jewellery, diamonds,
gemstones,
watches,
homewares and giftwares.
The
Subject operates 29 stores located across Australia.
Product
& services : Gold
Jewellery
Silver Jewellery
Diamonds
Gemstones
Watches
Homewares
Giftwares
Brand
: Citizen, Guess,
Casio, DKNY, Fossil, JAG, D&G, Pierre Cardin, Pulsar,
Seiko
Purchases
International
: China, Hong Kong, Japan,
India, Sri Lanka, United States, Europe
Sales
Local
: Yes
International
: No
exports.
Future
development : The Subject is planning
to open stores in Mount Druitt in Sydney and
Elizabeth in South Australia.
Property & Assets
Premises
: The Subject operates
from premises located at the verified heading
address consisting of administrative office.
Branches
: In addition, the
Subject operates from 29 retail stores located in New South
Wales, South Australia, Queensland, Victoria and Australian
Capital
Territory.
Gross Domestic Products (GDP) & Economic
Overview
Central
bank : Reserve
Bank of Australia
Reserve
of foreign exchange & gold : US$
41.385 billion
Gross
domestic product - GDP : US$
1.235 trillion
GPP
(Purchasing power parity) : 918.529
billion of International dollars
GDP
per capita - current prices : US$
55,590
GDP -
composition by sector : agriculture:
4.1%
industry: 26%
services: 70%
Inflation
: 2008:
4.4%
2009: 1.8%
2010: 2.8%
Unemployment
rate : 2008:
4.2%
2009: 5.6%
2010: 5.2%
Public
debt
(General
Government gross debt as
a %
GDP)
: 2008: 11.6%
2009: 17.6%
2010: 22.3%
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 : 2007:
US$45,477 million
2008: US$46,722 million
2009: US$22,572 million
FDI
Outflows : 2007:
US$16,822 million
2008: US$32,819 million
2009: US$18,426 million
Best
countries for doing business : 10
out of 183 countries
Global
competitiveness ranking : 16
(ranking by country on a basis of 133, 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
: 74.00%
Purchase Term
International
: L/C, Prepayment,
Telegraphic transfer, Credit up to 120 days
Sales Term
Local
: Cash, Credit
card
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
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.91 |
|
|
1 |
Rs.86.03 |
|
Euro |
1 |
Rs.69.12 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.