MIRA INFORM REPORT

 

 

Report No. :

492239

Report Date :

20.02.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

JU FASHION

 

 

Registered Office :

33 Catalina St North St Marys NSW 2760

 

 

Country :

Australia

 

 

Date of Incorporation :

08.09.2016

 

 

Legal Form :

Proprietorship

 

 

Line of Business :

The subject will operate in the import and distribution of women’s fashion including apparel and fashion accessories such as dresses, skirts and bags.

 

 

No. of Employees :

2 part time (Proprietor and his wife)

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd 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

(30.09.2017)

Current Rating

(31.12.2017)

Australia

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

 

 

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 2018 facing a range of growth constraints, principally driven by the sharp fall in global prices of key export commodities. Demand for resources and energy from Asia and especially China has stalled and sharp drops in current prices have 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 benefited from a dramatic surge in its terms of trade in recent years, although this trend has reversed 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 WTO, APEC, the G20, and other trade forums. Australia’s free trade agreement (FTA) with China entered into force in 2015, adding to existing FTAs with the Republic of Korea, Japan, 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 10 ASEAN countries and China, Japan, Korea, New Zealand and India.

 

Source : CIA

 

Company name

 

REGISTERED NAME                JU FASHION

ABN: 11 929 747 116

 

 

Summary Panel

 

Established

2016

 

Registered

2016

 

Line of Business

Clothing import and distribution

Status

Trading

Proprietor

JOYANTA CHOUDHURY

Adverse Listings

Nil

 

 

 

EXECUTIVE SUMMARY

 

The subject commenced trading activities in February 2017 and is operated on a part time basis.

 

For the current financial year ending 30 June 2018 the subject expects to record revenue of $25,000.

 

The subject maintains no overdraft facilities or external borrowings as all operations are funded through the internal cashflows of the company.

 

CORPORATE SEARCH

 

Legal Form :Proprietorship

 

Status: Registered

 

Registration date: 08/09/2016

 

Renewal date: 08/09/2017

 

Address for service of documents: 33 Catalina St North St Marys NSW 2760

 

Principal place of business: North St Marys NSW 2760

 

Holder(s) details: Holder name: JOYANTA CHOUDHURY

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     33 Catalina St North

St Marys NSW 2760                             

 

TELEPHONE                 0415 571 318 

 

WEBSITE                      www.jufashion.com.au

 

BANK                           SUNCORP

                                               

EMPLOYEES                2 part time (Proprietor and his wife)       

 

 

BACKGROUND

 

The subject was registered in New South Wales on 8 September 2016 under the current style.

 

The subject commenced operations in February 2017

 

 

OPERATIONS

 

The subject will operate in the import and distribution of women’s fashion including apparel and fashion accessories such as dresses, skirts and bags.

 

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

 

ADVERSE

                                               

A search of records of on 15 February 2018 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 the subject’s proprietor Joyanta Choudhury he advised that the subject commenced trading activities in February 2017. The subject is operated on a part time basis as Mr Choudury also operates as restaurant that he purchased in October 2017.

 

For the current financial year ending 30 June 2018 the subject expects to record revenue of $25,000.

 

Current assets include stock on hand of $10,000.

 

The subject maintains no overdraft facilities or external borrowings as all operations are funded through the internal cashflows of the company.

 

Further financial details were unable to be obtained for the current enquiry.

 

 

TRADE SURVEY

 

The subject is not a seeker of domestic commercial credit and is in the process of establishing operations.

 

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

 

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 63.91

UK Pound

1

INR 90.31

Euro

1

INR 80.17

AUD

1

INR 51.15

 

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

NIY

 

 

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)

 

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.