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Report No. : |
355104 |
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Report Date : |
19.12.2015 |
IDENTIFICATION DETAILS
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Name : |
DSM (PACIFIC) PTY LTD |
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Registered Office : |
'- 910' Suite 909, 155 King Street, Sydney Nsw 2000 |
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Country : |
Australia |
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Date of Incorporation : |
22.02.2006 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Subject operates in the import
manufacture and distribution of jewellery and diamonds. |
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No. of Employee : |
7 |
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 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Australia |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
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
Following
two decades of continuous growth, low unemployment, contained inflation, very low
public debt, and a strong and stable financial system, Australia enters 2015
facing a range of growth constraints, principally driven by a sharp fall in
global prices of key export commodities. Although demand for resources and
energy from Asia and especially China has grown rapidly, creating a channel for
resources investments and growth in commodity exports, sharp drops in current
prices have already impacted growth.
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,
although this trend could reverse or slow due to falling 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
entered into free trade agreements (FTAs) with the Republic of Korea and Japan,
and concluded an FTA with China, in 2014, adding to existing FTAs with Chile,
Malaysia, New Zealand, Singapore, Thailand, and the US, and a regional FTA with
ASEAN and New Zealand. Australia continues to negotiate bilateral agreements
with India and Indonesia, as well as larger agreements with its Pacific
neighbors and the Gulf Cooperation Council countries, and an Asia-wide Regional
Comprehensive Economic Partnership that includes the ten ASEAN countries and
China, Japan, Korea, New Zealand and India. Australia is also working on the
Trans-Pacific Partnership Agreement with Brunei, Canada, Chile, Japan,
Malaysia, Mexico, New Zealand, Peru, Singapore, the US, and Vietnam.
|
Source
: CIA |
DSM (PACIFIC) PTY LTD
ACN: 118 479 315
ABN: 93 118 479
315
Summary
Panel
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Established |
2006 |
|
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Incorporated |
2006 |
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Line of Business |
Jewellery manufacture and import |
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Status |
Trading |
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Chief Executive
Officer |
Darshan Mehta |
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For the last
financial year ended 30 June 2015 the subject traded profitably and recorded
revenue of $12,000,000 to $15,000,000.
On a projected
basis, a similar or better result is expected for the current financial year
ending 30 June 2016.
In regards to asset backing, the subject is noted to own the premises
located at the above listed trading address.
Company Type Australian
Proprietary Company
Incorporation State: NSW
Incorporation Date: 22 FEB 2006
Registered Office
'- 910' SUITE 909,
155 KING STREET,
SYDNEY
NSW 2000
Current Directors Total: 1
DARSHAN MEHTA – Appointed: 22 FEB 2006
82, 277 CASTLEREAGH Street SYDNEY, NSW
DOB: 27 MAR 1980
Current Secretaries Total: 1
DARSHAN MEHTA – Appointed: 22 FEB 2006
Share Structure - Classes Total: 1
ORD ORDINARY: 2552900 – Amount paid: $2,552,900
Shareholders Total: 1
ORD 25529000 - DARSHAN MEHTA
Effective 30 January 2012 the Personal Property Securities Register (PPSR) was introduced to give the different Commonwealth, State and Territory laws and registers regarding security interests in personal property under one national system.
As a result of PPS
Reform a number of existing Commonwealth, State and Territory personal property
security registers will close. Interests registered on existing security
interest registers will be migrated to the national PPS Register. Subsequently
Registered Charges are no longer lodged with the Australian Securities and
Investments Commission (ASIC).
Please contact us
should you require a search of the PPSR.
TRADING ADDRESS SUITE 909 & 910
LEVEL
9
155
King St
SYDNEY,
NSW 2000
TELEPHONE (612) 9232 1410
FACSIMILE (612) 9232 1412
BRANCH MELBOURNE,
VIC
WEBSITE http://www.dsmpacific.com.au
BANK WESTPAC
BANKING CORPORATION
EMPLOYEES 7
The subject was
incorporated in New South Wales on 22 February 2006 to commence operations
under the current style as a new venture.
The subject operates in the import manufacture
and distribution of jewellery and diamonds.
Activities are
conducted from premises located at the above listed trading address.
A search of of
on 15 December 20152015 failed to trace any litigation listed against the
subject at that date.
The subject is
not required to lodge financial statements with the Australian Securities and
Investments Commission.
During the
current interview conducted with the subjects Director Darshan Mehta advised
that for the last financial year ended 30 June 2015 the subject traded
profitably and recorded revenue of $12,000,000 to $15,000,000.
On a projected
basis, a similar or better result is expected for the current financial year
ending 30 June 2016.
For the year
ended 30 June 2010 the subject traded profitably and recorded revenue of
$8,000,000.
Current assets
include stock on hand valued at $5,000,000 to $6,000,000.
The subject
maintains access to financing facilities with its bankers which are used to assist
in funding working capital requirements.
In regards to asset backing, the subject is noted to own the premises
located at the above listed trading address. A property search can be conducted
at your request to confirm ownership.
A trade survey on the subject traced the following accounts:
1.
(Superior
Diamonds) Purchases average $50,000 per month on 30 and 90 day terms. Payment
is met to terms and the account is considered satisfactory, having been known
over 10 years.
2.
(GP
Israel) Purchases are of an undisclosed amount on 30 day terms. Payment is met
to terms and the account is considered satisfactory, having been known over 5
years.
Trade payment
from further sources in the past 4 months have traced the following data for the
subject.
Total Owing: $320
Total Past Due: $0
Average Late Payment Days: 0
All Industries Late Payment Days: 7
-
Within
terms: $320
-
1 – 30
days past due: $0
-
31 – 60
days past due: $0
-
61 – 90
days past due: $0
-
91+
days: $0
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.42 |
|
|
1 |
Rs.99.17 |
|
Euro |
1 |
Rs.72.14 |
|
AUD |
1 |
Rs.47.57 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
HNA |
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Report Prepared
by : |
ANK |
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.