|
Report No. : |
319085 |
|
Report Date : |
04.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
DSM (PACIFIC) PTY LTD |
|
|
|
|
Registered Office : |
'- 910' Suite 909, 155 King Street, Sydney NSW 2000 |
|
|
|
|
Country : |
Australia
|
|
|
|
|
Date of Incorporation : |
22.02.2006 |
|
|
|
|
Legal Form : |
Australian Proprietary Company |
|
|
|
|
Line of Business : |
Import Manufacture and Distribution of Jewellery and Diamonds. |
|
|
|
|
No. of Employees : |
7 |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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
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 2014, Australia had experienced more
than 20 years of continued economic growth, averaging more than 3% 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.
|
Source
: CIA |
REGISTERED NAME DSM (PACIFIC) PTY LTD
ACN: 118 479 315
ABN: 93 118 479 315
|
Summary Panel |
||
|
Established |
2006 |
|
|
Incorporated |
2006 |
|
|
Line of Business |
Jewellery manufacture and import |
|
|
Status |
Trading |
|
|
Chief Executive Officer |
Darshan Mehta |
|
|
Adverse Listings |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Details pertaining to the subject’s financial and trading position were
unable to be obtained for the current enquiry.
For the last financial year ended 30 June 2010 the subject traded
profitably and recorded revenue of $8,000,000.
In regards to asset backing, the subject is noted to own the premises
located at the above listed trading address.
In view of the above, the subject has been assigned with a rating of ‘NA
5’.
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
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).
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 30 April 2015 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 he declined to confirm or release any details pertaining to the
subject unless the source of the enquiry was released.
As a result, details pertaining to the subject’s financial and trading
position were unable to be obtained for the current enquiry.
For the last financial year ended 30 June 2010 the subject traded
profitably and recorded revenue of $8,000,000.
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.
Details pertaining to the subjects suppliers were not released for the
current enquiry.
A trade survey on the subject was subsequently unable to be conducted.
Trade payment from further sources in the past 4 months have traced the
following data for the subject.
Total Owing: $425
Total Past Due:
$61
Average Late
Payment Days: 2
All Industries
Late Payment Days: 9
Within terms: $364
1 – 30 days past due: $61
31 – 60 days past due: $0
61 – 90 days past due: $0
91+ days: $0
DIAMOND INDUSTRY – INDIA
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
Excerpts from Times of India dated 30th
October 2010 is as under –
-
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.
-
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.63.57 |
|
|
1 |
Rs.97.99 |
|
Euro |
1 |
Rs.70.53 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
TPT |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.