MIRA
INFORM REPORT
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Report Date : |
24.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
MANAK JEWELS, INC |
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Registered Office : |
101 Utah St Ste 207 San Francisco, CA 94103 |
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Country : |
United States |
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Date of Incorporation : |
12.08.1997 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Wholesaler of Jewellery |
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 |
REQUIRED
CREDIT
Maximum
GEOPOLITICS
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POLITICAL DATA |
ECONOMIC DATA |
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FORM OF GOVERNMENT ECONOMIC RISK |
Federal
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CURRENCY BRANCH SITUATION |
USD Satisfying |
IDENTIFICATION
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Company Name: |
Manak Jewels, Inc Manak Jewelcrafts |
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Address: |
101 Utah St Ste
207 San Francisco,
CA 94103 USA |
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Phone: Facsimile: ID: State: Managers: |
415-255-4768 415-255-0654 C2062711 California Ambrish Sethi ,President Mahyar Irani,, Principal |
Date founded: |
12/08/1997
Corporation for Profit N.A. N.A. Employees: 3 |
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Legal form: |
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Stock: Value: |
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Staff: |
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Business: |
Wholesales Jewellery |
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BANKS
Wells
Fargo Bank, bank of the West
BUSINESS
Business & Operations:
Manak Jewels Inc. has been in business over 30 years serving customers
nationwide and abroad. The company was started back in 1975 by a husband and
wife team. Since then, the founder of Manak Jewels has grown the company to
become a leader in natural fancy color diamonds, rose cuts, diamond briolettes
and diamond beads. Today Manak Jewels continues to thrive and succeed in the
diamond industry with high quality standards, superior customer service, and
commitment to integrity.
Manak Jewels headquarters is located at the Jewelry Center in San
Francisco, California.
Since inception, the team at Manak Jewels has dedicated themselves in
developing new concepts in gemstone design by pioneering the use of Diamond
Briolettes, Beads, Old Mine Cuts and Rose Cut Diamonds for fine jewelry
designers in the trade.
Way of payments:
Usually 30-45 days
SHAREHOLDERS – SUBSIDIARIES
– MANAGERS
The main shareholder is Mr
Ambrish Sethi.
FINANCIALS – COMMERCIAL TRENDS
AND FORECAST
As subject is a privately held corporation it is not required to release
financial details.
However our reporter was able to obtain the following information :
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Turnover for year 2007 : USD 530,000
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Net income : USD 65,000
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Net worth : USD 100,000
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Bank liabilities : USD 25,000
LEGALS
0 Suits
0 Judgments
0 Liens
0 Collection Claims
Reported
0 NSF Cheques Reported
1 UCC Filing in 2008, 2006
& 2003 by Wells Fargo Bank
Security and Amount: NA
All previous UCC Filings
have been cleared
RATING
Local credit bureau gave a medium credit rate.
The Company is in “good standing”.
This means that all local and federal taxes were paid on due date.
Payments are longs and are
made on 35 days nets (monitored during the past 12 months).
The cash is medium.
Our final opinion:
This is a small company
working on the US market.
The cash is medium but
payments are prompt.
SUMMARY
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FINANCIAL SUMMARY |
DEBT COLLECTIONS
AND PAYMENTS |
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PROFITABILITY INDEBTNESS CASH |
Correct controlled sufficient |
PUBLIC PAYMENTS |
See Details Above regular |
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. |
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%)