MIRA INFORM REPORT

Report No. :	490636
Report Date :	12.02.2018

IDENTIFICATION DETAILS

Name :	STAR GEMS & JEWELLERY LIMITED
Registered Office :	91 Eugenia Rise Silkwood Heights Manukau City, Auckland 1143
Country :	New Zealand
Date of Incorporation :	24.09.2001
Com. Reg. No.:	1164026
Legal Form :	Private Limited Liability Company
Line of Business :	The Subject is engaged in the wholesale and trade of fine jewellery and certified diamonds.
No. of Employees :	6 (Estimated)

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

B

Credit Rating	Explanation	Rating Comments
B	Medium Risk	Business dealings permissible on a regular monitoring basis

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

Country Name	Previous Rating (30.06.2017)	Current Rating (30.09.2017)
New Zealand	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	D

NEW ZEALAND - ECONOMIC OVERVIEW

Over the past 40 years, the government has transformed New Zealand from an agrarian economy, dependent on concessionary British market access, to a more industrialized, free market economy that can compete globally. This dynamic growth has boosted real incomes, but left behind some at the bottom of the ladder and broadened and deepened the technological capabilities of the industrial sector.

Per capita income rose for 10 consecutive years until 2007 in purchasing power parity terms, but fell in 2008-09. Debt-driven consumer spending drove robust growth in the first half of the decade, fueling a large balance of payments deficit that posed a challenge for policymakers. Inflationary pressures caused the central bank to raise its key rate steadily from January 2004 until it was among the highest in the OECD in 2007 and 2008. The higher rate attracted international capital inflows, which strengthened the currency and housing market while aggravating the current account deficit. Rising house prices, especially in Auckland, have become a political issue in recent years, as well as a policy challenge in 2016 and 2017, as the ability to afford housing has declined for many.

The economy fell into recession before the start of the global financial crisis and contracted for five consecutive quarters in 2008 and 2009. In line with global peers, the central bank cut interest rates aggressively and the government developed fiscal stimulus measures. The economy pulled out of recession in 2009, and achieved 3% growth from 2011 to 2017. Nevertheless, key trade sectors remain vulnerable to weak external demand and lower commodity prices. In the aftermath of the 2010 Canterbury earthquakes, the government has continued programs to expand export markets, develop capital markets, invest in innovation, raise productivity growth, and develop infrastructure, while easing its fiscal austerity. Expanding New Zealand’s network of free trade agreements remains a top foreign policy priority.

Source : CIA

IDENTIFICATION

Given
Subject name:	STAR GEMS & JEWELLERY LTD
Address:	LEVEL 3, 63 ALBERT STREET AUCKLAND CBD 1010
Country:	New Zealand
Remarks:	The given address belongs to a branch office of the Subject.
Verified
Subject name:	STAR GEMS & JEWELLERY LIMITED
Other style:	HOUSE OF BOND
Address:	91 Eugenia Rise Silkwood Heights Manukau City		Postal address:	PO Box 105000 Auckland City
Town:	Auckland		Town:	Auckland
Zip/postal code:	1143
Country:	New Zealand
Telephone:	+64 (9) 2612638 / 2612639
Fax:	+64 (9) 2634639
Email:	info@stargems.co.nz
Website:	www.stargems.co.nz
EXECUTIVE SUMMARY
Date registered:	24-09-2001
Legal form:	Private Limited Liability Company
Main activities:	Wholesale and trade of fine jewellery and certified diamonds
Employees:	6 (Estimated)
REGISTRY DATA
Key Facts
Date registered:	24-09-2001
Legal form:	Private Limited Liability Company
Registration no:	1164026
Registry auth.:	Registrar of Companies
Tax number:	NZBN: 9429036760824
Registry status:	Live/Active
LEGAL FILINGS
Bankruptcy filings:	None
Court judgements:	None
Tax liens:	None
Other:	None
MANAGEMENT & STAFF
Key Managers
Name:	Tilak Wadhwa
Job title:	Director
Name:	Upasana Wadhwa
Job title:	Director
Staff
No of employees	6 (Estimated)
BOARD OF DIRECTORS / OTHER APPOINTMENTS
Appointments
Name:	Tilak Wadhwa
Board function:	Director
Address:	91 Eugenia Rise Totara Heights Manukau 2105 New Zealand
Name:	Upasana Wadhwa
Board function:	Director
Address:	91 Eugenia Rise Totara Heights Manukau 2105 New Zealand
SHARE CAPITAL
Composition
Number/type:	1,000 ordinary shares
Shareholders/Owners
How Listed	Full List
Composition
Name:	Tilak Wadhwa Upasana Wadhwa (joint shareholder)
No. of shares:	998 ordinary shares
Address:	91 Eugenia Rise Totara Heights Manukau 2105 New Zealand
Name:	Upasana Wadhwa
No. of shares:	1 ordinary share
Address:	91 Eugenia Rise Totara Heights Manukau 2105 New Zealand
Name:	Tilak Wadhwa
No. of shares:	1 ordinary share
Address:	91 Eugenia Rise Totara Heights Manukau 2105 New Zealand
CORPORATE AFFILIATIONS
Comments	None reported.
BANKING & FINANCING
Charges & Mortgages	Time of Registration/PPSR Registration Date: 26-Aug-2008 12:14 Debtor Name: STAR GEMS & JEWELLERY LIMITED Financing Statement Registration No.: FR284TZ0JC962285/C0004 Debtor Reference: 6371:STA Org Type:Company Incorporation No:1164026 City/Town:AUCKLAND Collateral Type: Goods - Other Time of Registration/PPSR Registration Date: 11-Nov-2013 15:14 Debtor Name: STAR GEMS & JEWELLERY LIMITED Financing Statement Registration No.: FC324UR742YJ6520 Debtor Reference: Org Type:Company Incorporation No:1164026 City/Town:AUCKLAND Collateral Type: All Present And After Acquired Personal Property Time of Registration/PPSR Registration Date: 15-Dec-2014 08:00 Debtor Name: STAR GEMS & JEWELLERY LIMITED Financing Statement Registration No.: FA0S72R941N4783M Debtor Reference: Org Type:Company Incorporation No:1164026 City/Town:AUCKLAND Collateral Type: Goods - Motor Vehicles Time of Registration/PPSR Registration Date: 03-Jun-2016 08:11 Debtor Name: STAR GEMS & JEWELLERY LIMITED Financing Statement Registration No.: F80U662822E91CC1 Debtor Reference: Org Type:Company Incorporation No:1164026 City/Town:AUCKLAND Collateral Type: Goods - Motor Vehicles
FINANCIAL ACCOUNTS
Description
Required to file:	No
Source:	N/A
Comments	The Subject's financial statements were not available in the course of our investigation.
OPERATIONS & HISTORY
Activities
Full description:	The Subject is engaged in the wholesale and trade of fine jewellery and certified diamonds.
Sales
Export:	Australia, the Pacific Islands.
PROPERTY & ASSETS
Premises	The Subject's head office is located at the heading address.
PAYMENTS
Purchase Terms
Local:	Cash Credits 14-30 days Bank transfers
Imports:	Credits 30 days net Prepayments Partial prepayments
Sales Terms
Local:	Cash Credits 14-30 days Credit cards
Exports:	Credits 30 days net Prepayments Partial prepayments
Debt Collections / Judgements	No negative information was found.
Payment Experience
Payment behaviour:	As trade references were not supplied, the Subject's payment track record history CANNOT BE ACCURATELY DETERMINED, but payments are believed to be Slow but Correct.
INVESTIGATIVE NOTES
Sources:		Interviews and material provided by the Subject Other official and local business sources

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 64.37
UK Pound	1	INR 89.71
Euro	1	INR 78.89
NZD	1	INR 46.61

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	PRI
Report Prepared by :	TRU

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

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 are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

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