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MIRA INFORM REPORT
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Report No. : |
487174 |
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Report Date : |
19.01.2018 |
IDENTIFICATION DETAILS
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Name : |
JSK DIAMONDS P L |
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Registered Office : |
Room 16 Level 1 Jacobson's Jewellery,
428 George Street Sydney NSW, 2000 |
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Country : |
Australia |
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Date of Incorporation : |
23.04.2012 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
The subject operates as diamond importers and traders. |
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No. of Employees : |
2
(Directors) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but Correct |
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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
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Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
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Australia |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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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.
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Source
: CIA |
Company
NAME
JSK DIAMONDS P/L
ACN
157936797
ABN
62157936797
Summary
Panel
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Established |
2012 |
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Incorporated |
2012 |
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Line of Business |
Diamond Traders |
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Status |
Trading |
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Adverse Listings |
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EXECUTIVE
SUMMARY
for the last financial year ended 30 June 2017 the subject traded
profitably and recorded revenue of $1,200,000.
On a projected basis, steady trading results are forecast for the
current financial year ending 30 June 2018.
The subject maintains access to a financing facility with its
bankers which is used to assist in funding working capital requirements.
CORPORATE SEARCH
Company Type Australian Proprietary Company
Status Registered
Incorporation Date 23 Apr 2012
Incorporation State NSW
Registered Office ROOM 16 LEVEL 1 JACOBSON'S
JEWELLERY, 428 GEORGE
STREET SYDNEY NSW, 2000
Current Directors
Total: 2
Director Name MEHTA, HITESH
Appointment Date 23 Apr 2012
Date of Birth 12 Dec 1976
Place of Birth MUMBAI INDIA
Gender MALE
Resident Overseas N
Address 7, 32 CENNTENNIAL AVE, LANE
COVE NSW 2066
Document Number 028030573
Director Name SAFFO, ROBERT
Appointment Date 23 Apr 2012
Date of Birth 24 Feb 1979
Place of Birth ISTANBUL TURKEY
Gender MALE
Resident Overseas N
Address 6 WOODLANDS AVE,
BLAKEHURST NSW 2221
Document Number 028030573
Company Shares
Total: 2 Amount: $2
Class ORDINARY SHARES [ ORD ]
Number of Shares Issued 2
Paid Capital $2.00
Total Amount Due and Payable $0.00
Document Number 028030573
Current Shareholders
Shareholder Name SAFFO, ROBERT
Address 6 WOODLANDS AVENUE
BLAKEHURST NSW, 2221
Class ORD
Number Held 1
Beneficially Held Y
Fully Paid Y
Jointly Held N
Document Number 028030573
Shareholder Name MEHTA, HITESH
Address UNIT 7, 32 CENNTENNIAL
AVENUE LANE COVE NSW, 2066
Class ORD
Number Held 1
Beneficially Held Y
Fully Paid Y
Jointly Held N
Document Number 028030573
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 ROOM 16 LEVEL 1
428 GEORGE
STREET SYDNEY NSW, 2000
TELEPHONE (612)
9233 3155
FACSIMILE (612)
9233 2988
ASSOCIATED ENTITIES JACOBSON
JEWELLERY
BANK WESTPAC
BANKING CORPORATION
EMPLOYEES 2
(Directors)
BACKGROUND
The subject was incorporated in New South Wales on 23 April 2012
to commence operations under the current style as a new venture.
OPERATIONS
The subject operates as diamond importers and traders.
Activities are conducted from premises located at the above listed
trading address.
ADVERSE
A search of of on 12 December 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.
During the current
interview conducted with Director Robert Saffo, he advised that for the last
financial year ended 30 June 2017 the subject traded profitably and recorded
revenue of $1,200,000. This compares to revenue of $1,100,000 for the previous
corresponding year ended 30 June 2016.
On a projected basis,
steady trading results are forecast for the current financial year ending 30
June 2018.
Current assets include
stock on hand of $500,000.
The subject maintains
access to a financing facility with its bankers which is used to assist in
funding working capital requirements.
Further financial details
were unable to be obtained for the current enquiry.
TRADE SURVEY
A trade survey on the subject traced the following accounts:
1. (Fed Ex) Nominated
supplier declined to provide a reference owing to company policy.
2. (Brinks) Nominated
supplier failed to trace an account for the subject.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.84 |
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1 |
INR 88.28 |
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Euro |
1 |
INR 77.88 |
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AUD |
1 |
INR 51.14 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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NIY |
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Report Prepared
by : |
SYL |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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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
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Payment
record
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Litigation
against the subject
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Industry
scenario / competitor analysis
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Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.