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Report No. : |
303808 |
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Report Date : |
22.01.2015 |
IDENTIFICATION DETAILS
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Name : |
PROTEA DIAMONDS PTY LTD. |
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Registered Office : |
Suite 701, Level 7, 155 Castlereagh Street, Sydney, New South Wales
NSW 2000 |
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Country : |
Australia |
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Date of Incorporation : |
19.05.1986 |
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Com. Reg. No.: |
003101380 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Subject is engaged in the wholesale of fashion jewellery, gemstone,
Tanzanite, coloured stones and diamond jewellery. |
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No. of Employee : |
15 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 – 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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Trading as: |
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Address: |
155 Castlereagh Street |
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EXECUTIVE SUMMARY
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Date registered: |
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Main activities: |
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REGISTRY DATA
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Key Facts |
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Date registered: |
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Registration no: |
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Registry auth. |
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Tax number: |
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LEGAL FILINGS
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Bankruptcy filings: |
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Tax liens: |
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Other: |
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MANAGEMENT & STAFF
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Name: |
Mary Lou Sobel |
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Job title: |
Director and Company Secretary |
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Name: |
Robin Sobel |
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Job title: |
Director and Company Secretary |
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No of employees |
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BOARD OF DIRECTORS / OTHER APPOINTMENTS
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The Inandas 58 Rivonia Road Sandton,
Johannesburg South Africa |
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Birth Place: Johannesburg, South Africa |
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Name: |
Mary Lou Sobel |
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Board function: |
Director and Company Secretary |
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Date appointed: |
08-06-1994 |
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Address: |
1 Boronia Road Bellevue Hill, NSW 2023 Australia |
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Name: |
Robin Sobel |
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Board function: |
Director and Company Secretary |
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Date appointed: |
19-05-1986 |
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Address: |
1 Boronia Road Bellevue Hill, NSW 2023 Australia |
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Biography: |
Date of birth: 26/10/1958 Birth Place: Hyde Park, South Africa |
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SHARE CAPITAL
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Composition |
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Authorised: |
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Issued: |
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Paid-up: |
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Shareholders/Owners
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The Inandas 58 Rivonia Road Sandton, Johannesburg South Africa |
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Name: |
Robin Sobel |
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No. of shares: |
500 ordinary shares |
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% of shares: |
10% |
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Address: |
1 Boronia Road Bellevue Hill, NSW 2023 Australia |
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CORPORATE AFFILIATIONS
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Fourways Mall Corner Of Witkoppen Road & William
Nicol Drive Fourways Boulevard Sandton 2055 Johannesburg South Africa |
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Enterprise
Number: 2003/003794/07 Registration Date: 19/02/2003 |
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Name: |
PROTEA DIAMONDS INVESTMENT HOLDINGS (PTY)
LTD |
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Affiliation
type: |
Associate |
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Address: |
South Africa |
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Comment: |
Enterprise Number: 1970/000830/07 Registration Date: 27/01/1970 |
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Name: |
PROTEA GEM DIAMONDS BVBA |
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Affiliation
type: |
Associate |
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Address: |
Hoveniersstraat 30 2018 Antwerp Belgium |
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Comment: |
Company number: BE 0438.664.979 |
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BANKING & FINANCING
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Bankers
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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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Private Companies in Australia are not
required to file accounts unless classified as "Large", which at
the moment means that two out of the following three conditions are met: - The company has a sales turnover of over
AUD 25,000,000; - The company has total assets of over AUD
12,500,000; - The company employs 50 people or more. The Subject does not meet the criteria of
being a large proprietary company. |
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OPERATIONS & HISTORY
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Full
description: |
The Subject is engaged in the wholesale of
fashion jewellery, gemstone, Tanzanite, coloured stones and diamond
jewellery. |
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Products/services: |
Wedders & Eternity Bangles & Bracelets Earrings Pendants & Crosses |
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Import: |
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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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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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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.61 |
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1 |
Rs.93.47 |
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Euro |
1 |
Rs.71.37 |
INFORMATION DETAILS
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Analysis Done by
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KRN |
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Report Prepared
by : |
DPT |
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.