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Report No. : |
349578 |
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Report Date : |
19.11.2015 |
IDENTIFICATION DETAILS
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Name : |
TRANSWORLD ENTERPRISES PTY. LIMITED |
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Registered Office : |
21 to 25 Compton St, Adelaide, SA 5000 |
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Country : |
Australia |
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Date of Incorporation : |
26.06.2001 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Subject is engaged in
retail and repair of jewellery and watches. |
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No. of Employee : |
375 (Group) |
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
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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
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, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the US, and Vietnam.
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Source
: CIA |
TRANSWORLD
ENTERPRISES PTY. LIMITED
ACN: 097 267 966
ABN: 13 097 267 966
Summary
Panel
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Established |
2001 |
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Incorporated |
2001 |
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Line of Business |
Purchasing of jewellery for group |
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Status |
Trading |
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Chief Executive Officer |
BENSIMON, Albert |
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Adverse Listings |
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The subject
operates as the purchasing arm of the group. The subject does not sell product
to any external entities.
For the financial year ended 30 June 2015 the group recorded revenue of just under $70,000,000.
Group current assets include stock on hand valued at $30,000,000 to
$36,000,000.
Group fixed assets include shop fitouts with a written down value of
$5,000,000 to $6,000,000.
Company Type Australian Proprietary
Company
INCORPORATED 26 June
2001
REGISTERED ADDRESS 21 to
25 Compton St
ADELAIDE,
SA 5000
SHARECAPITAL $1,000
SHAREHOLDERS Shiels
Jewellers P/L Holds 999
shares
Freshmo
Investments P/L Holds 1 share
DIRECTORS BENSIMON,
Albert
151
Fisher St
MALVERN,
SA 5061
SECRETARY BENSIMON,
Albert
151
Fisher St
MALVERN,
SA 5061
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 25
Compton St
ADELAIDE,
SA 5000
POSTAL ADDRESS PO BOX 10040,
GOUGER
STREET, ADELAIDE BC, SA 5000
TELEPHONE (618) 8110 4110
FACSIMILE (618)
8110 4199
WEBSITE
www.shiels.com.au
HOLDING ENTITY SHEILS
JEWELLERS P/L
ASSOCIATES ENTITY 24
CARAT NOMINEES P/L (the retail arm of the group)
GROUP TRADING
STYLES SHIELS
JEWELLERS
GRAHAMS
JEWELLERS
GROUP BRANCHES The Group maintains around 48
branches across Australia.
BANK NATIONAL
AUSTRALIA BANK
Branch:
Adelaide, SA 5000
EMPLOYEES Nil
375
(group)
The subject was incorporated in South Australia on 26 June 2001 under the current style.
Group operations were established by Jack Shiels in 1948.
The current owner purchased the operations of Shiels Jewellers in 1977.
The Group operates
in the retail and repair of jewellery and watches.
The subject operates as the purchasing arm for the group.
Activities are
conducted from premises located at the above listed trading address.
A search of of
on 9 November 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 financial controller Michael Amy he advised that the subject operates as the purchasing arm of the group. The subject does not sell product to any external entities.
For the financial year ended 30 June 2015 the group recorded revenue of just under $70,000,000.
For the year ended 30 June 2013 the group traded profitably and recorded revenue of $70,000,000. This compares to revenue of $72,000,000 for the previous corresponding year ended 30 June 2012.
Group current assets include stock on hand valued at $30,000,000 to $36,000,000.
The subject maintains group financing facilities with the National Australia Bank, which are used to assist in funding Working Capital requirements.
Group fixed assets include shop fit outs with a written down value of $5,000,000 to $6,000,000.
IN regards to asset backing the subjects Director is noted to own the premises located at the above listed trading address.
A trade survey on the subject traced the following accounts:
(Peter W Beck) Purchases range between $9,000 and $50,000 per month on 30 day terms. Payment is met to terms and the account is considered good having been known for over 15 years.
Nominated supplier failed to respond to correspondence despite chasing.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.66.11 |
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1 |
Rs.100.51 |
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Euro |
1 |
Rs.70.39 |
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
ASH |
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.