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Report Date : |
05.09.2012 |
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 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 : |
Not Available |
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 Company |
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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, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Australia |
A1 |
A1 |
|
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.
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 : N/A
Fax : N/A
Registered address
: C/o KNP SOLUTIONS PTY
LTD
313 Glenferrie Road
Town : Malvern
Province : Victoria
Zip/postal code : 3144
Country : Australia
Comments : The Subject is not
registered as a phone user locally hence we are unable to
obtain any contact details for the Subject and its director.
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. (as reported)
Staff employed : N/A
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 undetermined
Detrimental : Some detrimental found
Payment history : No payment delays noted
Comments : Credit of any
amount can’t be granted as we are unable to determine the
existence and location of the Subject.
Registry Data
Registration date
: 15/05/2012
Legal form : Australian
Proprietary Company
Registration no Australian Company
Number: 158352339
Registered
authority : Australian
Securities and Investments Commission
Fiscal/ Tax no : Australian
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 : N/A
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
diamonds.
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 $12.5 million, and
-The company and any entities it controls have fewer than 50 employees
at the
end of the financial year.
Main activities : The Subject engages in
import & distribution of jewellery, diamonds and
precious stones. (as reported)
Purchases
International : India
Sales
Local : Yes
International : No exports.
Property & Assets
Premises : The Subject's premises can't
be determined.
Branches : None reported.
Gross Domestic Products (GDP) & Economic
Overview
Central bank : Reserve
Bank of Australia
Reserve of foreign
exchange & gold : US$ 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
Local : None
International : None
Sales Term
Local : None
International : None
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 : 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.
-
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.54 |
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|
1 |
Rs.88.23 |
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Euro |
1 |
Rs.70.02 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
|
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 |
-- |
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.