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Report No. : |
331347 |
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Report Date : |
14.07.2015 |
IDENTIFICATION DETAILS
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Name : |
HOSKING’S JEWELLERS PTY. LIMITED |
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Registered Office : |
20 Klauer St, Seaford, Vic 3198 |
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Country : |
Australia |
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Year of Establishment : |
1945 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Retail of Jewellery and Watches. |
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No. of Employees : |
180 |
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 |
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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 Darussalam, Canada, Chile,
Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the US, and Vietnam.
|
Source
: CIA |
HOSKING’S JEWELLERS PTY. LIMITED
ACN: 004 761 960
ABN: 48 004 761
960
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Established |
1945 |
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Incorporated |
1969 |
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Line of Business |
Jewellery retails |
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Adverse Listings |
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For the last financial year ended 30 June 2015 the subject traded profitably
and recorded revenue of $20,000,000 to $25,000,000.
During fiscal 2012, the subject recorded Net Cashflows from operating
activities totalling $1,116,269.
As at 30 June 2012 the subject recorded Working Capital of $5,224,151
and a current ratio of 3.48 to 1 indicating strong liquidity levels.
Net Assets totalled $11,033,839 as at 30 June 2012.
Enquiries in trade quarters revealed satisfaction from suppliers
contacted in dealing with the subject on a credit basis.
Company Type Australian Proprietary
Company
INCORPORATED 27.02.1969
REGISTERED ADDRESS 20
Klauer St
SEAFORD,
VIC 3198
SHARECAPITAL $1,200
SHAREHOLDERS HOSKING,
Graham Percival Holds
1,187 shares
HOSKING,
Kerry Dianne Holds
13 share
DIRECTORS HOSKING,
Graham Percival - Appointed 19 May 2015
4
Elm Court
MOUNT
ELIZA, VIC 3930
SECRETARY HOSKING, Graham
Percival
4
Elm Court
MOUNT
ELIZA, VIC 3930
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.
SEAFORD,
VIC 3198
POSTAL ADDRESS PO Box 315
FRANKSTON,
VIC 3199
TELEPHONE (613) 9770 1844
WEBSITE http://www.hoskings.com.au/
BRANCHES The
subject maintains a total of 19 branches
BANK NATIONAL
AUSTRALIA BANK
Branch:
Frankston, VIC
EMPLOYEES 180
The subject was incorporated in Victoria on 27 February 1969 as Hosking the Jeweler P/L, adopting the current style of 13 February 1998. disclose Share Capital of $1,200.
Operations were founded by Perc Hosking as a new venture in 1945.
The subject operates in the retail of jewellery and watches through a chain of 19 stores
The subject are members of:
• The Jewellers Association of Australia
• The Horological Guild of Watchmakers
• The Gemmological Association of Australia
• The Jewellery & Timepieces Industry Code
• The Australian Retailers Association
Activities are conducted from premises located at the above listed trading address.
A search of of
on 9 July 2015 failed to trace any litigation listed against the subject at
that date.
During the current interview conducted with the subjects Financial
Controller, Anne, she advised that for the last financial year ended 30 June
2015 the subject traded profitably and recorded revenue of $20,000,000 to
$25,000,000. This compares to revenue of $22,000,000 to $25,000,000 for the
previous corresponding year ended 30 June 2014.
Further financial details pertaining to the subject were not released
for the current enquiry.
From the subjects most recently lodged financial statements, it is noted
that for the financial year ended 30 June 2012 the subject recorded revenue of
$22,625,400, which resulted in an operating profit before tax of $612,780 and
an operating profit after tax of $392,560 representing a Net Profit Margin of
1.74%.
During fiscal 2012, the subject recorded Net Cashflows from operating
activities totalling $1,116,269.
As at 30 June 2012 the subject recorded total current assets of $7,326,503.
They included cash of $68,258 and inventories of $6,894,476.
Current liabilities at the same date totalled $2,102,352 and included
payables of $1,416,828 and provisions of $594,037.
As at 30 June 2012 the subject recorded Working Capital of $5,224,151
and a current ratio of 3.48 to 1 indicating strong liquidity levels.
Net Assets totalled $11,033,839 as at 30 June 2012. At this date, the
subject further recorded a Debt to Equity ratio of 0.23 to 1 showing low levels
of gearing.
Enquiries in trade quarters revealed satisfaction from suppliers
contacted in dealing with the subject on a credit basis.
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Hoskings Jewellers Pty Ltd |
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As at 30 June 2012 |
As at 30 June 2011 |
Change (%) |
|
Revenue |
$22,625,400.00 |
$25,029,436.00 |
-9.60% |
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Profit b/tax |
$612,780.00 |
$1,334,206.00 |
-54.07% |
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Profit a/tax |
$392,560.00 |
$891,992.00 |
-55.99% |
|
Net Profit Margin |
1.74% |
3.56% |
-1.83% |
|
Current Assets |
$7,326,503.00 |
$8,067,247.00 |
-9.18% |
|
Non-Current Assets |
$6,200,944.00 |
$6,036,234.00 |
2.73% |
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Total Assets |
$13,527,447.00 |
$14,103,481.00 |
-4.08% |
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Current Liabilities |
$2,102,352.00 |
$3,018,798.00 |
-30.36% |
|
Non-Current Liabilities |
$391,256.00 |
$443,403.00 |
-11.76% |
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Total Liabilities |
$2,493,608.00 |
$3,462,201.00 |
-27.98% |
|
Net Assets |
$11,033,839.00 |
$10,641,280.00 |
3.69% |
|
Working Capital |
$5,224,151.00 |
$5,048,449.00 |
3.48% |
|
Current Ratio |
3.48 |
2.67 |
30.41% |
|
Debt to Equity |
0.23 |
0.33 |
-30.54% |
A trade survey on the subject traced the following accounts:
Trade payment
records from further sources in the past 4 months have traced the following
data for the subject.
Total Owing: $1,443
Total Past Due: $58
Average Late Payment Days: 1
-
Within
terms: $1,385
-
1 – 30
days past due: $58
-
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.63.47 |
|
|
1 |
Rs.98.47 |
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Euro |
1 |
Rs.70.69 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
NIT |
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.