MIRA INFORM REPORT

 

 

Report No. :

491073

Report Date :

28.02.2018

 

 

 

 

 

 

IDENTIFICATION DETAILS

 

Name :

DSM (PACIFIC) PTY LTD

 

 

Registered Office :

910' Suite 909, 155 King Street,Sydney, Nsw 2000

 

 

Country :

Australia

 

 

Date of Incorporation :

22.02.2006

 

 

Legal Form :

Australian Proprietary Company

 

 

Line of Business :

Subject Is Engaged In Import Manufacture And Distribution Of Jewellery And Diamonds

 

 

No. of Employees :

7

 

 

RATING & COMMENTS

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

 

MIRA’s Rating :

A

 

 

Credit Rating

Explanation

Rating Comments

A

Acceptable Risk

Business dealings permissible with moderate risk of default

 

Status :

Satisfactory

 

 

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 Indi

 

Source : CIA

 

Company Name     

 

DSM (PACIFIC) PTY LTD

ACN: 118 479 315

ABN: 93 118 479 315

 

 

Summary

 

Established

2006

 

Incorporated

2006

 

Line of Business

Jewellery manufacture and import

Status

Trading

Chief Executive Officer

Darshan Mehta

Adverse Listings

Nil

 

 

 

EXECUTIVE SUMMARY

 

Current financial and trading details could not be obtained for the current enquiry.

 

For the year ended 30 June 2016 the subject traded profitably and recorded revenue of $12,000,000 to $15,000,000.

 

 

CORPORATE SEARCH

 

Company Type             Australian Proprietary Company

 

Incorporation State:     NSW

 

Incorporation Date:      22 FEB 2006

 

Registered Office

'- 910' SUITE 909,

155 KING STREET,

SYDNEY

NSW 2000

 

 

 

Current Directors

 

Total: 1

 

DARSHAN MEHTA – Appointed: 22 FEB 2006

82, 277 CASTLEREAGH Street SYDNEY, NSW

DOB: 27 MAR 1980

 

 

Current Secretaries

 

Total: 1

 

DARSHAN MEHTA – Appointed: 22 FEB 2006

 

Share Structure - Classes Total: 1

 

ORD ORDINARY: 2552900 – Amount paid: $2,552,900

 

Shareholders Total: 1

 

ORD 25529000 - DARSHAN MEHTA

 

 

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).

 

 

BUSINESS STRUCTURE

 

TRADING ADDRESS                 SUITE 909 & 910

                                                LEVEL 9

                                                155 King St

                                                SYDNEY, NSW 2000                            

 

TELEPHONE                             (612) 9232 1410

 

FACSIMILE                               (612) 9232 1412

 

BRANCH                                   MELBOURNE, VIC

 

WEBSITE                                  http://www.dsmpacific.com.au  

 

BANK                                       WESTPAC BANKING CORPORATION

                                               

EMPLOYEES                            7         

 

 

BACKGROUND

 

            The subject was incorporated in New South Wales on 22 February 2006 to commence operations under the current style as a new venture.

 

 

OPERATIONS

 

            The subject operates in the import manufacture and distribution of jewellery and diamonds.

 

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

 

 

ADVERSE

                                               

A search of records of on 26 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 subjects Director Darshan Mehta he declined to confirm or release any details pertaining to the subject unless the source of the enquiry was released.

 

As a result current financial and trading details could not be obtained for the current enquiry.

 

For the year ended 30 June 2016 the subject traded profitably and recorded revenue of $12,000,000 to $15,000,000.

 

For the year ended 30 June 2010 the subject traded profitably and recorded revenue of $8,000,000.

 

The subject maintains access to financing facilities with its bankers which are used to assist in funding working capital requirements.

 

In regards to asset backing, the subject is noted to own the premises located at the above listed trading address. A property search can be conducted at your request to confirm ownership.

 

 

TRADE SURVEY

 

Trade payment records from further sources in the past 4 months have traced the following data for the subject. 

 

Total Owing: $423

Total Past Due: $348

Average Late Payment Days: 59

All Industries Late Payment Days: 10

 

Within terms: $75

1 – 30 days past due: $18

31 – 60 days past due: $0

61 – 90 days past due: $330

91+ days: $0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 64.85

UK Pound

1

INR 90.58

Euro

1

INR 79.97

AUD

1

INR 50.93

 

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

VAR

 

 

Report Prepared by :

KET

                                                


 

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.