MIRA
INFORM REPORT
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Report Date : |
22.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
VIMCO DIAMOND CORPORATION |
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Registered Office : |
1156 Avenue Of Americas Suite 602 New York – 10036 |
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Country : |
United States |
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Date of Incorporation : |
13.11.1985 |
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Legal Form : |
Corporation – Private |
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Line of Business : |
Wholesaler of diamonds and diamond jewelry |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
IDENTIFICATION &
EXECUTIVE SUMMARY
Company Name : VIMCO DIAMOND CORP.
Address : 1156 AVENUE OF AMERICAS SUITE 602
City : NEW YORK
State/Province : NEW YORK
Zip Code : 10036
Country : UNITED STATES
Telephone : 212 302-7188
Facsimile : 212 921-5957
Legal Form : Corporation - Private
Website : www.vimcodiamond.com
Business Activity : Wholesaler of diamonds and diamond
jewelry.
As of : --
Sales / Revenue : --
Net Income : --
Total Equity : --
NOTE TO CLIENT
Contact Person: Mr. Dharmendra Anu Hirawat, President
Mr. Hirawat provided very general information for this report, however
deferred all other information to a fax request. Please note that we did send a
written request to his attention via facsimile. An update will be provided
accordingly should we receive a response at a later time.
LEGAL
Legal Form: Corporation -
Private
Since (D/M/Y) : 13/11/1985
State/Province of Incorporation : New York
Status : ACTIVE
Previous Legal Form:
Company is NOT required to publish an annual financial report.
NEW YORK SECRETARY OF STATE
Current Entity Name : VIMCO
DIAMOND CORP.
Initial DOS Filing Date :
NOVEMBER 13, 1985
County : NEW
YORK
Jurisdiction :
NEW YORK
Entity Type :
DOMESTIC BUSINESS CORPORATION
Current Entity Status : ACTIVE
DOS Process (Address to which DOS will mail process if accepted on
behalf of the entity): VIMCO DIAMOND
CORP.
1156 SIXTH AVE / SUITE 602
NEW YORK, NEW YORK, 10036
Principal Executive Office:
VIMCO DIAMOND CORP.
1156 SIXTH AVE / SUITE 602
NEW YORK, NEW YORK, 10036
Registered Agent: NONE
NOTE: New York State does not issue organizational identification
numbers.
Managers/Key
Personnel
Mr. Dharmendra Anu Hirawat President
AFFILIATED ENTITIES
The Company has three
Affiliates:
Vimco Diamonds (Belgium)
Vimco (Thai) Ltd. Bankok
Sunvim Exports, Mumbai
BANKS
We could not obtain any banking information.
PAYMENT HISTORY
The firm is not a large seeker of local trade credit and a significant
payment record could not be developed.
FINANCIAL INFORMATION
Management would not comment on the financial condition of the Firm.
Outside sources consulted estimate gross annual sales to exceed US$2 million,
however this could not be confirmed with management.
HISTORY
The Company was incorporated in 1985 as a satellite office for a
pre-established family owned business of three generations (The Hirawat
Family).
CURRENT OPERATIONS
NAICS Code :
42194 Jewelry, Watch,
Precious Stone and Precious Metal
SIC Code : 5094
Business Activity:
Wholesaler of diamonds and diamond jewelry.
The Subject manufactures, markets, and supplies Solitaire & Studs, Past
Present & Future, Journey, Anniversary Bands, Bracelets, Riviera Necklaces
and other related items.
The Company caters to independent retailers across America, Canada and
Mexico.
The heading address is the corporate headquarters and sole location for
the Company.
TRADE REFERENCES
Trade references were declined.
PUBLIC RECORD
There were no filings found
against the Company.
A search of bankruptcy courts revealed no record of a Company by this
name filing for bankruptcy.
GENERAL COMMENTS
The Subject is well established wholesaler of diamonds and diamond
jewelry, operating since 1985. No significant payment record could be
developed. No derogatory information was found involving the Company.
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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 and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)