MIRA
INFORM REPORT
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Report Date : |
18.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
DGL TRADING CORP |
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Registered Office : |
10 W. 46th
Street, Suite 1805, New York, NY 10036 |
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Country : |
United States |
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Date of Incorporation : |
25.10.1983 |
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Legal Form : |
Corporation - Profit |
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Line of Business : |
Importer and Wholesaler of Diamonds and Precious Stones. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Company name
DGL TRADING CORP
Address
10 W. 46th Street, Suite 1805, New York, NY
10036 – USA
Telephone :212-391-2218
Fax : --
Website : --
summary
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Corporate
ID# : State : Judicial
form : Date
founded : Stock : Value: Name of manager: |
New York State does not
issue organizational identification numbers. New York State Corporation - Profit October 25, 1983 - - Tarun PATEL |
ACTIVITIES
& OPERATIONS
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Business Staff: |
The Company is importer and wholesaler of diamonds and precious
stones. Imports from Europe and Asia. Sells to jewelers and manufacturers. 2 |
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Operations & branches: |
At above address, we find
an office, on 800 sq. feet, on lease. |
SHAREHOLDERS & MANAGERS
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Shareholders : |
This is a family owned and managed company. |
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Management : |
Tarun PATEL is the
President and CEO. Punita PATEL is Vice
President and Secretary. As far as we know, they
are not involved in other local business. |
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Subsidiaries & Partnership : |
None |
FINANCIALS
In United States, privately
held corporations are not required to publish any financials.
On a direct call, nobody accepted
to answer our questions.
However, sales estimate for
year 2007 is in the range of USD 300,000=
The business is profitable.
Banks
CitiBank
New York, NY
LEGAL FILINGS
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Legal filings
& complaints : |
As of today date, there is
no legal filings pending with the District Courts. |
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Secured debts
summary (UCC) : |
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MARKET
ANALYSIS & FORECAST
In the State of New York ,
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, 93% of trade
experience indicates a regular payment.
Payments of imports are currently made with an average of 3 days beyond
terms.
The bank and financial
institutions confirmed a regular credit history.
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.43.23 |
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UK Pound |
1 |
Rs.80.89 |
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Euro |
1 |
Rs.63.80 |
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%)