3decades

MIRA INFORM REPORT

Report No. :	484812
Report Date :	12.01.2018

IDENTIFICATION DETAILS

Name :	WORLD SHINER PTY LTD

Registered Office :	Unit 4, 96 Wigram St Harris Park, Nsw 2150

Country :	Australia

Financials (as on) :	30.06.2015

Date of Incorporation :	21.10.1996

Legal Form :	Australian Proprietary Company

Line of Business :	The subject operates in the import and wholesale of diamond jewellery including rings, earrings, pendants and bracelets.

No. of Employees :	22

RATING & COMMENTS

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

MIRA’s Rating :

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

(30.06.2017)

Current Rating

(30.09.2017)

Australia

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 2017 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 WORLD SHINER PTY LTD

ACN: 076 563 356

ABN: 90 076 563 356

Summary Panel
Established	1996
Incorporated	1996
Line of Business	Jewellery retailers
Status	Trading
Adverse Listings	Nil

EXECUTIVE SUMMARY

	World Shiner Pty Ltd
	As at 30 June 2015	As at 30 June 2014	Change (%)
Revenue	$44,142,823.00	$43,099,563.00	2.42%
Profit b/tax	($422,890.00)	$244,813.00	-272.74%
Profit a/tax	($448,968.00)	$150,143.00	-399.03%

During fiscal 2015, the subject recorded a deficiency in Net Cashflows from operating activities totalling $2,874,591.

As at 30 June 2015 the subject recorded Working Capital of $6,342,976 and a current ratio of 1.44 to 1 indicating satisfactory liquidity levels.

Net Assets totalled $7,232,811 as at 30 June 2015.

Company summery

Company Type Australian Proprietary Company

Incorporation Date: 21 Oct 1996

Incorporation State: New South Wales

Registered Office Unit 4, 96 Wigram St

HARRIS PARK, NSW 2150

Public Record Information

Number of Shares Issued: 10

Paid Capital: 10

Shareholders TREASURE INVESTMENTS LTD

Number of Shares: 10

Directors SHAH, MAULIN

Appointment Date: 05 Oct 2008

Date of Birth: 17 Aug 1977

Gender: Male

Address: 804/80 LORIMER Street DOCKLANDS, Victoria 3008 Australia

Resident Overseas: No

DOSHI, JIGGAR

Appointment Date: 6 Mar 2006

Date of Birth: 06 Jun 1977

Gender: Male

Address: 3081, 3 Parkland Blvd

BRISBANE, Queensland 4000 Australia

Resident Overseas: No

Secretary SHAH, Maulin

DOSHI, Jiggar

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

HEAD OFFICE Suite 1103, 227 Collins St

MELBOURNE, VIC 3000

TELEPHONE (613) 9654 6369

FACSIMILE (613) 9650 1401

WEBSITE www.worldshiner.com

EMAIL Brisbane@worldshiner.com

HOLDING ENTITY TREASUE INVESTMENTS LTD - UAE

BRANCHES SYDNEY, NSW (Suite-301,Level 3, The Cullinan Building,

70 Castlereagh Street, Sydney NSW 2000)

BRISBANE, QLD

PERTH, WA

AFFILIATED ENTITIES The subject maintains affiliated entities in Belgium, India, K, Canada, Germany, Japan, Spain and Taiwan.

BANK ANZ BANKING GROUP

EMPLOYEES 22

BACKGROUND

The subject was incorporated in New South Wales on 21 October 1996 to commence operations under the current style as a new venture.

OPERATIONS

The subject operates in the import and wholesale of diamond jewellery including rings, earrings, pendants and bracelets.

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

ADVERSE

A search of of on 30 June 2017 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.

Contact with Director Maulin Shah was unable to be established for the current enquiry. Despite messages being left, no reply has been received.

Below is a summary of the subject’s most recently available financial results

	World Shiner Pty Ltd
	As at 30 June 2015	As at 30 June 2014	Change (%)
Revenue	$44,142,823.00	$43,099,563.00	2.42%
Profit b/tax	($422,890.00)	$244,813.00	-272.74%
Profit a/tax	($448,968.00)	$150,143.00	-399.03%

During fiscal 2015, the subject recorded a deficiency in Net Cashflows from operating activities totalling $2,874,591.

As at 30 June 2015 the subject recorded total current assets of $20,666,686. They included cash of $439,472, inventories of $11,850,000 and receivables of $8,042,461

Current liabilities at the same date totalled $14,323,710 and included payables of $12,074,193 and borrowings of $2,120,301.

As at 30 June 2015 the subject recorded Working Capital of $6,342,976 and a current ratio of 1.44 to 1 indicating satisfactory liquidity levels.

Net Assets totalled $7,232,811 as at 30 June 2015. At this date, the subject further recorded a Debt to Equity ratio of 1.98 to 1.

	World Shiner Pty Ltd
	As at 30 June 2015	As at 30 June 2014	Change (%)
Revenue	$44,142,823.00	$43,099,563.00	2.42%
Profit b/tax	($422,890.00)	$244,813.00	-272.74%
Profit a/tax	($448,968.00)	$150,143.00	-399.03%
Net Profit Margin	-1.02%	0.35%	-1.37%
Current Assets	$20,666,686.00	$23,777,940.00	-13.08%
Non Current Assets	$889,835.00	$702,250.00	26.71%
Total Assets	$21,556,521.00	$24,480,190.00	-11.94%
Current Liabilities	$14,323,710.00	$20,886,599.00	-31.42%
Non Current Liabilities			#DIV/0!
Total Liabilities	$14,323,710.00	$20,886,599.00	-31.42%
Net Assets	$7,232,811.00	$3,593,591.00	101.27%
Working Capital	$6,342,976.00	$2,891,341.00	119.38%
Current Ratio	1.44	1.14	26.74%
Debt to Equity	1.98	5.81	-65.93%

TRADE SURVEY

During the current investigation, contact with the subject’s principals was unable to be established.

Subsequently details pertaining to the company’s suppliers were unable to be obtained and a trade survey could not be conducted.

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

Total Owing: $327

Total Past Due: $0

Average Late Payment Days: 0

All Industries Late Payment Days: 9

Within terms: $327

1 – 30 days past due: $0

31 – 60 days past due: $0

61 – 90 days past due: $0

91+ days: $0

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 63.74
UK Pound	1	INR 86.01
Euro	1	INR 76.14
AUD	1	INR 50.12

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

INFORMATION DETAILS

Analysis Done by :	NIY

Report Prepared by :	SYL

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.