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Report No. : |
323239 |
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Report Date : |
27.05.2015 |
IDENTIFICATION DETAILS
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Name : |
JOGIA DIAMONDS INTERNATIONAL PTY LTD |
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Registered Office : |
488 Murray St Perth, Western Australia 6000 |
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Country : |
Australia |
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Date of Incorporation : |
29.09.1998 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Subject operates in the manufacture and distribution of jewellery and
loose diamonds. |
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No. of Employee : |
6 |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Australia |
A1 |
A1 |
|
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 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 |
JOGIA
INTERNATIONAL PTY LTD
A search of failed to trace any registered entity listed under the given
style. Further investigations have revealed that the correct legal entity is
Jogia Diamonds International Pty Ltd.
JOGIA DIAMONDS
INTERNATIONAL PTY LTD
ACN: 084 545 817
ABN: 52 084 545
817
|
Incorporated |
2008 |
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Line of Business
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Jewellery manufacture |
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Status |
Trading |
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Chief Executive
Officer |
NikhillJogia |
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Adverse Listings |
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Information pertaining to the subject’s financial and trading position
were unable to be obtained for the current enquiry.
Company Type Australian Proprietary
Company
Incorporation Date: 29
Sep 1998
Incorporation State: Western
Australia
488 MURRAY ST PERTH, Western Australia 6000 Australia
Number of Shares Issued: 192
Paid Capital:
92100
Current Shareholders
Shareholder Name JOGIA, VIKASH YOGESH
Address 25 ALEXANDER ROAD DALKEITH
WA, 6009
Class ORD
Number Held 5
Beneficially Held Y
Fully Paid Y
Jointly Held N
Document Number 7E0531813
Shareholder Name JOGIA, ASHA YOGESH
Address UNIT 19, 1 MOONDINE DRIVE
WEMBLEY WA, 6014
Class ORD
Number Held 5
Beneficially Held N
Fully Paid Y
Jointly Held N
Document Number 7E0864577
Shareholder Name LOWTHER, IAN
Address SUITE 2, 1298 HAY STREET
WEST PERTH WA, 6005
Class ORD
Number Held 10
Beneficially Held N
Fully Paid Y
Jointly Held N
Document Number 1F0101903
Shareholder Name JOGIA SUPERANNUATION FUND
Number Held 27
Beneficially Held N
Fully Paid N
Address 25 ALEXANDER ROAD DALKEITH
WA, 6009
Class ORD
Jointly Held N
Document Number 7E2101285
Shareholder Name WISE, DEVIKA YOGESH
Address 8 MCDERMOTT AVENUE
WANDINA WA, 6530
Class ORD
Number Held 5
Beneficially Held N
Fully Paid Y
Jointly Held N
Document Number 7E3598244
Shareholder Name JOGIA, YOGESH KANJI
Address 25 ALEXANDER ROAD DALKEITH
WA, 6009
Class ORD
Number Held 50
Beneficially Held Y
Fully Paid Y
Jointly Held N
Document Number 1F0494617
Shareholder Name JOGIA, NIKHIL YOGESH
Address UNIT 119, 138 BARRACK STREET
PERTH WA, 6000
Class ORD
Number Held 90
Beneficially Held Y
Fully Paid Y
Jointly Held N
Document Number
Director
JOGIA, NIKHIL YOGESH
Appointment Date: 05 Dec 2006
Date of Birth: 08 Feb 1982
Gender: Male
Address: 1/86 BARRACK Street PERTH, Western Australia 6000 Australia
Resident Overseas: No
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 488 MURRAY ST
PERTH,
WA 6000
TELEPHONE (618) 9218 9865
WEBSITE www.jogiadiamonds.com.au
BANK COMMONWEALTH
BANK OF AUSTRALIA
EMPLOYEES 6
The subject was incorporated in Western Australia on 29 September 1998
to commence operations under the current style as a new venture.
The subject operates in the manufacture and distribution of jewellery
and loose diamonds.
Activities are conducted from premises located at the above listed
trading address.
A search of of on 18 May 2015 failed totrace 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 Director Nikhil Jogia, he
declined to confirm or release any details pertaining to the subject.
As a result, information pertaining to the subject’s financial and
trading position were unable to be obtained for the current enquiry.
Details pertaining to the subjects suppliers were not provided for the
current enquiry.
A trade survey on the subject was subsequently unable to be conducted.
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 –
-
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.63.84 |
|
|
1 |
Rs.98.38 |
|
Euro |
1 |
Rs.69.64 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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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 |
|
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 |
|
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 |
|
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.