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MIRA INFORM REPORT
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Report No. : |
511588 |
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Report Date : |
01.06.2018 |
IDENTIFICATION DETAILS
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Name : |
KGK AUSDIAM P/L |
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Registered Office : |
Level 11 Uhy Haines Norton, 1 York Street Sydney
Nsw, 2000 |
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Country : |
Australia |
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Year of Establishment : |
2001 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Subject is engaged in manufacture and distribution of a range of diamond and gem jewellery. |
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No. of Employees : |
3 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRAs 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 : |
No Complaints |
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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 (30.09.2017) |
Current Rating (31.12.2017) |
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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 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 is growing at a slower pace and sharp drops in export 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. Australias 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 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 and summery
KGK AUSDIAM P/L
ACN 608979728
ABN 82608979728
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Summary Panel |
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Established |
2001 |
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Incorporated |
2015 |
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Line of Business |
Manufacture
and design of jewellery |
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Status |
Trading
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Chief Executive Officer |
Kevin
Stein |
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Adverse Listings |
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CONTENTS
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EXECUTIVE
SUMMARY
For
the last financial year ended 30 June 2017 the subject traded profitably and recorded
revenue of $5,000,000.
Improved
results are forecast for the current financial year ending 30 June 2018.
The
subject maintains access to financing facilities from intergroup companies
which are used to assist in funding working capital requirements.
CORPORATE SEARCH
Company
Type Australian Proprietary
Company
Status Registered
Incorporation Date 27
Oct 2015
Incorporation State VIC
Registered Office LEVEL 11 UHY HAINES NORTON,
1 YORK STREET SYDNEY NSW, 2000
Current Directors Total: 1
Director Name STEIN, KEVIN MARK
Appointment Date 27 Oct 2015
Date of Birth 06 Oct 1958
Place of Birth SOUTH AFRICA
Gender MALE
Resident Overseas N
Address 16 PEEL ST, DOVER HEIGHTS
NSW 2030
Current Secretaries Total: 1
Secretary Name STEIN, KEVIN MARK
Appointment Date 27 Oct 2015
Date of Birth 06 Oct 1958
Place of Birth null SOUTH AFRICA
Address 16 PEEL STREET DOVER
HEIGHTS NSW, 2030
Company Shares Total: 1000 Amount: $1,000
Class ORDINARY SHARES [ORD]
Number of Shares Issued 1000
Paid Capital $1,000.00
Total Amount Due and Payable $0.00
Current Shareholders
Shareholder Name PRIME INTERNATIONAL DMCC
Address PO BOX 237855, 36-H ALMAS
TOWER JUMEIRAH LAKE
TOWERS DUBAI UNITED ARABEMIRATES
Class ORD
Number Held 625
Beneficially Held Y
Fully Paid Y
Jointly Held N
Shareholder Name DD & JL INVESTMENTS PTY LTD
ACN 093728673
Address 'TOWER 2' C/- BASKIN CLARKE,
LEVEL 14, 101 GRAFTON
STREET BONDI JUNCTION NSW, 2022
Class ORD
Number Held 375
Beneficially Held N
Fully Paid Y
Jointly Held N
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.
TRADING
ADDRESS Suite 301C, 9-13 Bronte Road.
Bondi
Junction, Sydney, NSW 2022 Australia
TELEPHONE (612) 9387 2982
EMAIL info@kgkausdiam.com
WEBSITE http://kgkausdiam.com
HOLDING
ENTITY PRIME
INTERNATIONAL DMCC
ULTIMATE
HOLDING
ENTITY KGK DIAMONDS (HK) LIMITED
BANK Not
determined
EMPLOYEES 3
BACKGROUND
The
subject was incorporated in Victoria on 27 October 2015 under the current
style.
The
subject was formed to acquire the assets and operations of an existing business
under the name Ausdiam.
Global
operations were founded in 1905.
OPERATIONS
The
subject operates in the design manufacture and distribution of a range of
diamond and gem jewellery.
Activities
are conducted from premises located at the above listed trading address.
ADVERSE
A
search of of on 25 May 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 Director Kevin Stein, he advised that for the last financial year ended 30
June 2017 the subject traded profitably and recorded revenue of $5,000,000.
Improved results are forecast for the
current financial year ending 30 June 2018.
The subject maintains access to
financing facilities from intergroup companies which are used to assist in
funding working capital requirements.
TRADE SURVEY
A
trade survey on the subject traced the following accounts:
1. (DCLA) Purchases average $5,000 to
$10,000 per month on arranged terms. Payment is met to terms and the account is
considered satisfactory having been known for 16 years.
2. (Twin Plaza Metals) Nominated supplier
failed to respond to correspondence despite chasing.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 67.45 |
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1 |
INR 89.79 |
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Euro |
1 |
INR 78.79 |
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AUD |
1 |
INR 50.78 |
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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PRI |
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Report Prepared
by : |
DNS |
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
SCs 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
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Company
background and operations size
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Promoters
/ Management background
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Payment
record
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Litigation
against the subject
·
Industry
scenario / competitor analysis
·
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.