MIRA INFORM REPORT

 

 

Report No. :

344815

Report Date :

17.10.2015

 

IDENTIFICATION DETAILS

 

Name :

SHREEM JEWELS

 

 

Registered Office :

8 133 Meeks Rd, Marrickville NSW 2204 

 

 

Country :

Australia

 

 

Date of Incorporation :

30.07.2014

 

 

Legal Form :

Proprietorship

 

 

LINE OF BUSINESS :

THE SUBJECT OPERATES AS DIAMOND IMPORTERS AND TRADERS AND IN THE DISTRIBUTION AND MANUFACTURE OF JEWELLERY.

 

 

No. of Employee :

1

 

 

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 :

Slow but correct

 

 

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

 

Source : CIA

 

Company name                                     

                                                                                                    

SHREEM JEWELS

 

ABN: 61 662 608 357

 

 

Summary Panel

 

Established

2014

 

Incorporated

2014

 

Line of Business

Diamond and jewellery traders

Status

Trading

Adverse Listings

Nil

 

 

 

EXECUTIVE SUMMARY

 

For the last financial year ended 30 June 2015 the subject recorded revenue of $122,000.

 

On a projected basis the subject expects to generate revenue of close to $300,000 for the current financial year ending 30 June 30 June 2016.

 

The subject maintains no overdraft facilities or further external borrowings.

 

 

CORPORATE SEARCH

 

Status:                          Registered

 

Registration date:          30/07/2014

 

Renewal date:               30/07/2017

 

Address for service

of documents:              8 133 Meeks Rd Marrickville NSW 2204

 

Principal place of

business:                      Marrickville NSW 2204

 

Holder(s) details:

Holder Name:                RAJAN BHOGILAL KHATRI

 

Holder Type:                 Person

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                 8 133 Meeks Rd

Marrickville NSW 2204                          

 

TELEPHONE                             0423 513 578

 

BANK                                       ANZ BANKING GROUP

                                               

EMPLOYEES                            1 proprietor      

 

 

BACKGROUND

 

The subject was registered in New South Wales on 30 July 2014 to commence operations as a new venture.

 

 

OPERATIONS

 

The subject operates as diamond importers and traders and in the distribution and manufacture of jewellery.

 

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

 

 

ADVERSE

                                               

A search of 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 Proprietor Rajan Khatri he advised that for the last financial year ended 30 June 2015 the subject recorded revenue of $122,000.

 

On a projected basis the subject expects to generate revenue of close to $300,000 for the current financial year ending 30 June 30 June 2016.

 

Current assets include stock on hand of $100,000 and receivables of $228,000.

 

Current liabilities include creditors of $136,000.

 

The subject maintains no overdraft facilities or further external borrowings.

 

Further financial details could not be obtained for the current enquiry.

 

 

TRADE SURVEY

 

The subject imports all requirements and is not a significant seeker of domestic credit.

 

A trade survey on the subject was subsequently unable to be conducted.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.64.97

UK Pound

1

Rs.100.55

Euro

1

Rs.73.99

 

INFORMATION DETAILS

 

Analysis Done by :

KIN

 

 

Report Prepared by :

ASH

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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