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Report Date : |
16.03.2013 |
IDENTIFICATION DETAILS
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Name : |
BEVILLES PTY. LTD. |
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Registered Office : |
Level 3, 257 Collins Street, Melbourne, Victoria 3000 |
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Country : |
Australia |
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Date of Incorporation : |
25.06.1974 |
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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 : |
700 |
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 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Australia |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
|
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 : 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
55,000,000 (Estimated Non-consolidated 12 months, 30/06/2012)
Line of business : Retail
sales of jewellery, diamonds, gemstones, watches, homewares and
giftwares.
Staff employed : 700
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 and 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 : 700
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
page 7 / 14
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 : None reported.
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 : 30/06/12
Type of accounts : Estimated
key figures
Currency : Australia
Dollar (AUD)
Exchange rate : 1
USD = AUD 0.98 as of 11-03-2013
Summarized
Financial Information
Consolidation type : Non
Consolidated
Currency : Australia
Dollar (AUD)
Denomination : (x1)
One
Date of financial year end : 30/06/12
Length of accounts : 12
months
Sale turnover / Income : 55,000,000
Comments
: The
representative contacted Mr. Tony Sprogis declined to provide any financial
information until the inquiring party details are revealed.
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 $12.5 million, and
-The company and any entities it
controls have fewer than 50 employees at the
end of the financial year.
The Subject meets all criteria
to reveal their financial information however is still
exempted from filling their
financial information by the Government of Australia.
Main activities : The
Subject is engaged in retail sales of jewellery, diamonds, gemstones,
watches,
homewares and giftwares.
The
Subject operates 29 stores located across Australia.
Product
& services : Gold Jewellery
Silver
Jewellery
Diamonds
Gemstones
Watches
Homewares
Giftwares
Brand : CITIZEN, GUESS, CASIO, DKNY, FOSSIL, JAG, D&G,
PIERRE CARDIN,
PULSAR, SEIKO
Purchases
International : China, Hong Kong, Japan, India, Sri Lanka,
United States, Europe
Sales
Local : Yes
International : No exports.
Future development : The Subject is planning to open stores
in Mount Druitt in Sydney and
Elizabeth in South Australia.
Property
& Assets
Premises : The Subject operates from premises located at the
verified heading
address consisting of an administrative office.
Branches : In addition, the Subject operates from 29 retail
stores located in New South
Wales, South Australia, Queensland, Victoria and Australian
Capital
Territory.
Gross
Domestic Products (GDP) & Economic Overview
Central bank : Reserve
Bank of Australia
Reserve of foreign exchange & gold : US$ 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 : 2008:
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 : 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
DIAMOND INDUSTRY –
INDIA
-
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.
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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.
-
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.54.16 |
|
|
1 |
Rs.81.74 |
|
Euro |
1 |
Rs.70.50 |
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.