MIRA
INFORM REPORT
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Report Date : |
02.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
DIWADKO, INC. |
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Registered Office : |
710 Mill Street, Unit
H-5, Belleville, NJ 07109 |
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Country : |
United States |
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Date of Incorporation : |
01.19.1999 |
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Legal Form : |
Corporation - Profit |
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Line of Business : |
Importer and Wholesaler
of Jewelry, Precious Stones, and Related Products |
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 |
Company name
DIWADKO, INC.
Address
710 Mill Street, Unit H-5, Belleville, NJ 07109 – USA
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Telephone : Fax : Website : Corporate
ID# : State : Judicial
form : Date
founded : Stock : Value: Name of manager: |
973-751-8988 - - 0100769223 New Jersey Corporation - Profit 01-19-1999 100 shares No par value Melvin DIWADKAR |
ACTIVITIES
& OPERATIONS
Business
Staff: 2
The Company is importer and
wholesaler of jewelry, precious stones, and related products.
Imports mainly from Belgium
and Israel.
Sells to retailers in the
State New Jersey area.
Operations & branches
At above address, we find a
small office and showroom, on lease.
SHAREHOLDERS & MANAGERS
Shareholders :
- Melvin DIWADKAR
- Shobha DIWADKAR
They are the only employees
of the Company.
Management :
Shobha DIWADKAR is the
President and CEO.
Melvin DIWADKAR is Vice
President.
As far as we know, they are
not involved in other local businesses.
Subsidiaries &
Partnership :
None
FINANCIALS
In United States, privately
held corporations are not required to publish any financials.
On a direct call, Melvin
DIWADKAR remained suspicious and declined any information on the business.
However, sales estimate for
year 2007 is in the range of USD 300,000=
The business is said to be
profitable.
Banks
The Provident Bank
830 Bergen Avenue, Jersey
City 07306
Ph: 201-333-1000
Sovereign Bank
619 Alexander Road,
Princeton, NJ 08540
Ph: 609-243-6100
LEGAL FILINGS
Legal filings
& complaints :
As of today date, there is
no legal filings pending with the
District Courts.
Secured debts
summary (UCC) :
There are 2 active UCC
files listed with the Secretary of State of New Jersey:
File Number: 21636110
Date filed: June 10, 2003
Secured Party: Sovereign Bank
619 Alexander Road, Princeton, NJ 08540
File Number: 21868825
Date filed: October 30,
2003
Secured Party: The
Provident Bank
830 Bergen Avenue, Jersey City 07306
MARKET
ANALYSIS & FORECAST
In the State of New Jersey,
during the year 2007:
- 52% of the corporations
in same branch were developing the business on a low risk of late payment,
- 40%, on a medium risk,
and
- 8% on a high risk of late payment.
- 92% of them saw sales
stable versus last 3 years
- 4% declining
- 4% growing
A high percentage of late
payment may indicate that companies in this industry are experiencing cash flow
problems, that suppliers generally accept late payment as part of doing
business, or that on-time payment is not customary in this industry.
Companies entering such
markets should not expect to be paid on time.
The market appears to be
stable.
COMPANY
CREDIT HISTORY
According to our credit analysts, during the last 6 months, 98% of trade
experience indicates a regular payment.
Payments of imports are currently made on terms.
The banks and financial
institutions confirmed a low account even if payments are made of regular ways.
Both banks are confident.
The risk is low
Our opinion:
A business connection may
be conducted.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.34 |
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UK Pound |
1 |
Rs.84.00 |
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Euro |
1 |
Rs.65.96 |
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%)