MIRA
INFORM REPORT
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Report Date : |
29.12.2014 |
IDENTIFICATION DETAILS
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Name : |
WORLD SHINER PTY LIMITED |
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Registered Office : |
Suite 4 Level 3, Dymocks Building, 428 George Street, Sydney, New
South Wales, NSW 2000 |
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Country : |
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Financials (as on) : |
30.06.2014 |
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Date of Incorporation : |
21.10.1996 |
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Com. Reg. No.: |
076056356 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
The Subject is engaged in the provision of diamond-set jewellery.
Jewellery range includes rings, earrings, pendants and bracelets. |
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No. of Employee : |
18 |
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 – September 30, 2014
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Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
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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
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, Australia had experienced more than 20 years of continued economic
growth, averaging 3.5% a year. Demand for resources and energy from Asia and
especially China has grown rapidly, creating a channel for resources
investments and growth in commodity exports. The high Australian dollar has hurt
the manufacturing sector, while the services sector is the largest part of the
Australian economy, accounting for about 70% of GDP and 75% of jobs. Australia
was comparatively unaffected by the global financial crisis as the banking
system has remained strong and inflation is under control. Australia has
benefited from a dramatic surge in its terms of trade in recent years, stemming
from rising global commodity prices. Australia is a significant exporter of
natural resources, energy, and food. Australia's abundant and diverse natural
resources attract high levels of foreign investment and include extensive
reserves of coal, iron, 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 is an open market with minimal restrictions on imports of goods and
services. The process of opening up has increased productivity, stimulated
growth, and made the economy more flexible and dynamic. Australia plays an
active role in the World Trade Organization, APEC, the G20, and other trade
forums. Australia has bilateral free trade agreements (FTAs) with Chile,
Malaysia, New Zealand, Singapore, Thailand, and the US, has a regional FTA with
ASEAN and New Zealand, is negotiating agreements with China, India, Indonesia,
Japan, and the Republic of Korea, as well as with its Pacific neighbors and the
Gulf Cooperation Council countries, and is also working on the Trans-Pacific
Partnership Agreement with Brunei Darussalam, Canada, Chile, Malaysia, Mexico,
New Zealand, Peru, Singapore, the US, and Vietnam.
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Source
: CIA |
IDENTIFICATION
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Subject name: |
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Address: |
Suite 4 Level 3, Dymocks Building 428 George Street |
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Town: |
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State/province: |
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Zip/postal code: |
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Country: |
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Telephone: |
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Fax: |
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Email: |
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Website: |
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Remarks: |
The Subject's registered address is: S R Sheth & Co Pty Ltd Unit Harris Park, NSW 2150 |
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EXECUTIVE
SUMMARY
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Date registered: |
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Legal form: |
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Main activities: |
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Employees: |
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REGISTRY
DATA
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Key Facts |
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Date registered: |
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Legal form: |
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Registration no: |
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Registry auth. |
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Tax number: |
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Registry status: |
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LEGAL
FILINGS
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Bankruptcy
filings: |
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Court
judgements: |
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Tax liens: |
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Other: |
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MANAGEMENT
& STAFF
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Name: |
Jiggar Doshi |
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Job title: |
Director and Company Secretary |
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Auditor: |
Unit 4, 96 Wigram Street Harris Park, NSW 2150 Australia |
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No of employees |
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BOARD
OF DIRECTORS / OTHER APPOINTMENTS
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Unit 3081, 3 Parkland Boulevard Brisbane, QLD 4000 Australia |
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Birth Place: Kochi, India |
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Name: |
Maulin Shah |
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Board function: |
Director and Company Secretary |
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Date appointed: |
05/10/2008 |
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Address: |
Unit 804, 80 Lorimer Street Docklands, VIC 3008 Australia |
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Biography: |
Born: 17/08/1977 Birth Place: Ahmedabad, India |
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SHARE
CAPITAL
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Composition |
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Authorised: |
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Number/type: |
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Share value: |
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Issued: |
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Paid-up: |
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Shareholders/Owners
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Suit 1003, Khalid Al Attar Tower Sheikh Zayed
Road Dubai United Arab
Emirates |
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CORPORATE
AFFILIATIONS
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Suit 1003,
Khalid Al Attar Tower Sheikh Zayed Road Dubai United Arab Emirates |
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Name: |
DIAMANTRA GMBH |
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Affiliation type: |
Associate |
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Address: |
Hirschstr. 29 Stuttgart D-70173 Germany |
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Name: |
DIAMANTRA, INC. |
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Affiliation type: |
Associate |
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Address: |
5 S. Wabash Avenue, Suite 1721 Chicago 60603, IL USA |
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Name: |
FLAWLESS DIAMONDS CO., LTD. |
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Affiliation type: |
Associate |
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Address: |
9th Floor- 2 No. 267, Dunhuas Road Sec.2, Da-an Dist. Taipei City 10675 Taiwan |
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Name: |
WORLD SHINER (U.K.) LTD. |
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Affiliation type: |
Associate |
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Address: |
Suite 160, 1st Floor Princess House 50-60 East Castle Street London W1W8EA United Kingdom |
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Name: |
WORLD SHINER B.V.B.A |
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Affiliation type: |
Associate |
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Address: |
Hovenierstraat, 30 \Bus No. 122 Room No. 127 Antwerpen 2018 Belgium |
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Name: |
WORLD SHINER CANADA INC. |
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Affiliation type: |
Associate |
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Address: |
Suite 504, 27 Queen Street East Toronto M5c 2m6, Ontario Canada |
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Name: |
WORLD SHINER KK |
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Affiliation type: |
Associate |
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Address: |
3-43-6 Taito, 501 Nakaokachimachi Flats Taito -Ku Tokyo 110-0016 Japan |
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Name: |
WORLD SHINER S.L. |
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Affiliation type: |
Associate |
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Address: |
c/ Abada,2 Piso 4 despacho 8 Madrid 28013 Spain |
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BANKING &
FINANCING
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It is generally not the policy of local
banks to provide credit status information to non-bona fide applications, and
interested parties would be advised to consult first with the Subject if
banker's references are required. |
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FINANCIAL
ACCOUNTS
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Required to file: |
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Source: |
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Presentation: |
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Date of accounts: |
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Type of accounts: |
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Currency: |
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Exchange rate: |
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OPERATIONS
& HISTORY
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Full description: |
The Subject is engaged in the provision of
diamond-set jewellery. Jewellery range includes rings, earrings, pendants and
bracelets. |
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PROPERTY &
ASSETS
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The Subject principally operates from premises located
at the heading address, consisting of administrative offices. |
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227 Collins
Street, Melbourne, 3000 Australia Suite 306-307,
National Bank Building 180, Queen
Street Brisbane 4000 Australia Suite 1 Level 6,
Carillon City Tower 207, Murray
Street Perth 6000 Australia |
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PAYMENTS
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Local: |
Credits 14-30
days |
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Imports: |
Credits 30 days
net |
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Local: |
Credits 14-30
days |
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Exports: |
Credits 30 days
net |
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As trade references were not supplied, the
Subject's payment track record history CANNOT BE ACCURATELY DETERMINED, but
payments are believed to be PROMPT. |
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INVESTIGATIVE
NOTES
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Sources: |
Interviews and material provided by the Subject Other official
and local business sources |
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ATTACHMENTS
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Attachments: |
Financial ratios |
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Financial Ratios
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30-06-2014 |
30-06-2013 |
Trend |
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PROFITABILITY
[%] |
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Gross Margin |
N/A |
N/A |
N/A |
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Gross Profit / Sales Turnover * 100 |
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Operating Margin |
N/A |
N/A |
N/A |
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Operating Profit / Sales Turnover *
100 |
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Net Profit Margin |
0.35% |
-0.55% |
163.64% |
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Profit After Tax / Sales Turnover * 100 |
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Return On Equity (ROE) |
4.18% |
-6.49% |
164.41% |
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Profit After Tax / Equity * 100 |
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Return On Assets (ROA) |
0.61% |
-0.97% |
162.89% |
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Profit After Tax / Total Assets *
100 |
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Return On Investment (ROI) |
6.81% |
-5.05% |
234.85% |
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Profit Before Tax / Equity *
100 |
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EFFICIENCY [%] |
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Asset
Turnover |
176.06% |
177.16% |
-0.62% |
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Sales Turnover / Total Assets * 100 |
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Inventory
Turnover |
287.77% |
274.84% |
4.7% |
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Sales Turnover / Inventory * 100 |
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LIQUIDITY [%] |
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Current
Ratio (CR) |
113.84% |
117.09% |
-2.78% |
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Current Assets / Current
Liabilities * 100 |
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Quick
Ratio (QR) |
42.14% |
41.25% |
2.16% |
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(Current Assets – Inventory) /
Current Liabilities * 100 |
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DEBT [%] |
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Debt
Ratio |
85.32% |
84.99% |
0.39% |
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Total Liabilities / Total Assets *
100 |
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Long-Term
Debt Ratio |
0% |
0% |
0% |
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Long-Term Liabilities / Equity *
100 |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.64 |
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1 |
Rs.98.98 |
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Euro |
1 |
Rs.77.74 |
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
TPT |
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.