MIRA INFORM REPORT

 

 

Report No. :

330754

Report Date :

10.07.2015

 

IDENTIFICATION DETAILS

 

Name :

SAPPHIRE EXPORTS PTY LTD

 

 

Registered Office :

3, 81 Elizabeth St Brisbane, Qld 4000

 

 

Country :

Australia

 

 

Date of Incorporation :

13.12.1974

 

 

Legal Form :

Private company

 

 

Line of Business :

Wholesale and design of Jewellery.

 

 

No. of Employee :

15

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Unknown

 

 

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

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

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 Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the US, and Vietnam.

 

Source : CIA

 

                                                                                                

Company name and address

 

SAPPHIRE EXPORTS PTY LTD

ACN: 009 932 389

ABN: 78 009 932 389

 

ADDRESS GIVEN        

           

3, 81 Elizabeth St

BRISBANE, QLD 4000

 

 

Summary Panel

 

Established

1974

 

Incorporated

1974

 

Line of Business

Jewellery design and wholesale

Status

Trading

Adverse Listings

Nil

 

 

 

EXECUTIVE SUMMARY

 

The subject has been trading profitably and generates revenue of more than $20,000,000 per annum.

 

Enquiries in trade quartes revealed satisfactory payment patters from suppliers.

 

 

CORPORATE SEARCH

 

Company Type                                     Australian Proprietary Company

 

INCORPORATED                                  13 December 1974

 

REGISTERED ADDRESS                      3, 81 Elizabeth St

                                                            BRISBANE, QLD 4000

 

SHARECAPITAL                                    $3,863,214                   

 

SHAREHOLDERS                                 ANKIT GEMS HONG KONG LTD Holds 1,800 shares

 

DIRECTORS                                         SHAH, Ankit Arun

                                                            Resident overseas

 

                                                            SHAH, Amit Arun

                                                            Resident overseas

 

                                                            MELLERS, Ronald Arnold

                                                            15 Carson Dr

                                                            BUNYA, QLD 4055

                                                           

SECRETARY                                        MELLERS, Ronald Arnold

                                                            15 Carson Dr

                                                            BUNYA, QLD 4055

 

 

SECURITY INTERESTS

 

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.

 

 

BUSINESS STRUCTURE

 

TRADING ADDRESS                             3rd floor, 81 Elizabeth St

                                                            BRISBANE, QLD 4000

 

TELEPHONE                                         (617) 3229 1250

 

WEBSITE                                              www.sapphireexport.com

 

HOLDING ENTITY                                  ANKIT GEMS HONG KONG LTD

 

ASSOCIATES                                                                                                                                                   ANKIT GEMS INDIA

                                                                                                                                                                        ANKIT SHEM DUBAI

                                                                                                                                                                        ANKIT DIAMONS NEW YOK

 

BANK                                                   WESTPAC BANKING CORPORATION   

                                               

EMPLOYEES                                        15

 

BACKGROUND

 

The subject was incorporated in Queensland on 13 December 1974 to commence operations under the current style as a new venture.

 

The subject is wholly owned by Ankit Gems Hong Kong Lt a corporation that was established in Hong Kong in 1985.

 

 

OPERATIONS

 

The subject operates as one of the leading wholesale jewellery companies in Australia.

 

The company supplies loose stones and manufactured jewellery to both retailers and manufacturers’ throughout Australia and overseas.

 

Products include:

- Loose Diamonds

 - Loose Coloured Stones

 - Pearls & Pearl Clasps

 - Diamond & Coloured Stone Jewellery

(including a Ring Range of over 1500 designs)

 - A Handmade Jewellery Range

 - Gold Casting

 

Activities are conducted from premises located at the above listed trading address.

 

 

ADVERSE

                                               

A search of of on 7 July 2015 failed to trace any litigation listed against the subject at that date.

 

 

FINANCES

 

The subject is not required to lodge financial statements with the Australian Securities and Investments Commission.

 

During the current interview conducted with the subjects Manager, Ben, he advised that the subject has been trading profitably and generates revenue of more than $20,000,000 per annum.

 

Further financial details were not released for the current enquiry.

 

TRADE SURVEY

 

The subject imports all requirements. A trade survey on the subject traced the following accounts:

 

1.         Nominated supplier declined to provide a reference owing to company policy.

 

Trade payment from further sources in the past 4 months have traced the following data for the subject. 

 

 

Total Owing: $1,386     

Total Past Due: $0

Average Late Payment Days: 0

All Industries Late Payment Days: 9

 

-       Within terms: $1,386

-       1 – 30 days past due: $0

-       31 – 60 days past due: $0

-       61 – 90 days past due: $0

-       91+ days: $0

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.51

UK Pound

1

Rs.97.85

Euro

1

Rs.70.50

 

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

Report Prepared by :

ANK

 

 

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%)

 

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.