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Report Date : |
29.10.2013 |
IDENTIFICATION DETAILS
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Name : |
BEVILLES PTY. LTD. |
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Formerly Known As : |
DARM PTY. LTD. (initial) |
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Registered Office : |
Level 3, |
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Country : |
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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 : |
Retail sales of
jewellery, diamonds, gemstones, watches, homewares and giftwares. |
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No. of Employees : |
700 employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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, 2013
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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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 |
The Australian economy has experienced continuous growth and
features low unemployment, contained inflation, very low public debt, and a strong
and stable financial system. By 2012,
|
Source
: CIA |
Verified Address
Subject name : BEVILLES
PTY. LTD.
Other style / Business name : BEVILLES
JEWELLERS
Business address : Level
3,
Town :
Province :
Zip/postal code : 3000
Country :
Tel : +61 3 86659900
Fax : +61
3 86659955
Email : sales@bevilles.com.au
Website : www.bevilles.com.au
Registered address : Level
3,
Town :
Province :
Zip/postal code : 3000
Country :
Postal address :
Town :
Province :
Zip/postal code : 8009
Country :
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
Company Analysis
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
Comments : Larger
credit can be considered if guarantees are obtained.
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 on 10/04/2000
under business registration no: BN97713086.
BEVILLES JEWELLERS is a business name owned
by the Subject registered on 11/04/2006 under business registration no:
BN19830580.
BEVILLES JEWELLERS is a business name owned
by the Subject registered on 05/01/2004 under business registration no:
BN04265350.
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 :
Toorak, VIC 3142
Biography : Born
on 10-11-1934 in
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,
Melbourne, VIC 3000
No. of shares : 100,002
Ordinary Shares
% of shares : 100%
Structure
Name : BEREICH
PTY. LTD,
Affiliation type : Parent
Company
Address :
Level 3,
Melbourne, VIC 3000
Name : ROMEO
ART PTY LTD
Affiliation type : Associate
Address : Level
3,
Melbourne, VIC 3000
Name : BEVILLES
SUPER PTY. LTD.
Affiliation type : Associate
Address : Level
3,
Melbourne, VIC 3000
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 : 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 1.04 as of 24-10-2013
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’s latest financial figure was 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 $12.5 million, and
-The company and any entities it controls
have fewer than 50 employees at the
end of the financial year.
The Subject meets all criteria to reveal
their financial information however is still
exempted from filling their financial
information by the Government of Australia.
Main activities : The Subject is engaged
in retail sales of jewellery, diamonds, gemstones, watches, homewares and
giftwares.
The Subject
operates 29 stores located across Australia.
Product & services : Gold
Jewellery
Silver Jewellery
Diamonds
Gemstones
Watches
Homewares
Giftwares
Brand : CITIZEN,
GUESS, CASIO, DKNY, FOSSIL, JAG, D&G, PIERRE CARDIN,
PULSAR, SEIKO
Purchases
International : China,
Hong Kong, Japan, India, Sri Lanka, United States, Europe
Sales
Local : Yes
International : No
exports.
Future development
: The Subject is planning
to open stores in Mount Druitt in Sydney and Elizabeth in South Australia.
Property &
Assets
Premises : The Subject
operates from the verified heading address consisting of an administrative
office.
Branches :
In addition, the Subject operates from 29 retail stores located in New South
Wales, South
Australia, Queensland, Victoria and Australian Capital Territory.
Gross Domestic
Products (GDP) & Economic Overview
Central bank : Reserve
Bank of Australia
Reserve of foreign exchange & gold : US$ 46.714 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 : 2010:
2.8%
2011: 3.4%
2012: 2.7%
Unemployment rate : 2010:
5.2%
2011: 5.1%
2012: 5.2%
Public debt
(General Government gross debt as
a % GDP): 2010:
20.4%
2011: 22.9%
2012: 24%
Government bond ratings : Standard
& Poor's: AAA
Moody's rating: Aaa
Moody's outlook: STA
Market value of publicly traded
shares: US$1.198
trillion
Largest companies in the country : Qantas
Airways (Airline),Coca-Cola Amatil (Beverages), CSL (Biotechs),
Brambles (Business & Personal
Services),Crown Ltd (Casinos & Gaming), Amcor (Containers &
Packaging),Suncorp-Metway (Diversified Insurance), BHP Billiton (Diversified Metals &
Mining),Newcrest Mining (Diversified Metals & Mining), Orica (Diversified
Metals & Mining), Iluka
Resources(Diversified Metals & Mining),
Origin Energy (Electric Utilities), AGL Energy (Electric Utilities), Wesfarmers
(Food Retail), Woolworths
(Food Retail), Metcash (Food Retail),
Macquarie Group (Investment services), AMP (Investment services), Challenger
Ltd (Investment services), Fortescue Metals Group (Iron & Steel), Bluescope
Steel (Iron & Steel), Commonwealth Bank (Major Banks), Westpac Banking
Group (Major Banks), National Australia Bank (Major Banks), ANZ (Major Banks),
Woodside Petroleum (Oil & Gas Operations), Santos (Oil & Gas
Operations), Caltex Australia (Oil & Gas
Operations), WorleyParsons (Oil
Services & Equipment), Toll Holdings
(Other Transportation), Transurban
Group (Other Transportation), QBE Insurance
Group (Property & Casualty Insurance), Insurance Australia Group (Property
& Casualty Insurance), QR National (Railroads), Westfield Group (Real
Estate), Stockland Australia (Real Estate), Westfield Retail Trust (Real
Estate), Lend Lease (Real Estate), CFS Retail Property Trust (Real Estate),
Goodman Group (Real Estate), Bendigo & Adelaide Bank (Regional Banks), Bank
of Queensland (Regional Banks), Incitec Pivot (Specialized Chemicals), Telstra
(Telecommunications Services)
Trade &
Competitiveness Overview
Total exports : US$263.9
billion
Exports
commodities : Coal,
iron ore, gold, meat, wool, alumina, wheat, machinery and transport equipment
Total imports : US$239.7
billion
Imports
commodities : Machinery
and transport equipment, computers and office machines, telecommunication
equipment and parts; crude oil and petroleum products
Export - major partners : China
27.4%, Japan 19.2%, South Korea 8.9%, India 5.8%
Import - major partners : China
18.5%, US 11.4%, Japan 7.9%, Singapore 6.3%, Germany 4.7%
FDI Inflows :
2009: US$26,554 million
2010: US$35,556
million
2011: US$41,317
million
FDI Outflows : 2009: US$16,693 million
2010: US$12,791 million
2011: US$19,999 million
Best countries for doing business : 10
out of 185 countries
Global competitiveness ranking : 20
(ranking by country on a basis of 144, the first is the best)
Country and
Population Overview
Total population : 22.68
million
Total area : 7,692,024
km2
Capital : Canberra
Currency : Australian
dollars (AUD)
Internet users as % of total
population: 79%
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
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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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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 –
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Gem & Jewellery Export Promotion Council in its statistical data has
shown the export of polished diamonds to have increase by 28 % in February
2013. Compared to $ 1.4 bn worth of polished diamond export in February, 2012,
India exported $ 1.84 billion worth of polished diamonds in February 2013. A
senior executive of GJEPC said, “Export of cut and polished diamonds started
falling month-wise after the imposition of 2 % of import duty on the polished
diamonds. But February, 2013 has given a new ray of hope to the industry as the
export of polished diamonds has actually increased by 28 %. It means the
industry is on the track of recovery and round tripping of diamonds has
stopped completely.” Demand has started coming from the US, the UK, Japan and
China. India’s polished diamond export is expected to cross $ 21 bn in 2013-14.
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The banking sector has started exercising restraint while following
prudent risk management norms when lending money to gems and jewellery sector. This
follows the implementation of Basel III accord – a global voluntary regulatory
standard on bank capital adequacy, stress testing and market liquidity.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.50 |
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|
1 |
Rs.99.49 |
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Euro |
1 |
Rs.84.88 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
|
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 |
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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.