MIRA
INFORM REPORT
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Report Date : |
27.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
EVEREST STAR, INC. |
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Registered Office : |
576 5th
Avenue, Suite 702, New York, NY 10036 |
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Country : |
United States |
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Date of Incorporation : |
05.04.1996 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
Importer and Wholesaler
of Diamonds. |
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 : |
No Complaints |
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Litigation : |
Clear |
Company name
EVEREST STAR, INC.
Address
576 5th Avenue, Suite 702, New York, NY
10036 – USA
Telephone : 212-840-7170
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 April 5, 1996 - - Narendra KARNAVAT |
ACTIVITIES
& OPERATIONS
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Business Staff: |
EVEREST STAR is importer
and wholesaler of diamonds. Imports are made from Europe
and Asia and the Company sells to jewellers, manufacturers and retailers, and
sometimes to private people. 3 |
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Operations & branches: |
At above address, we find
an office on lease. |
SHAREHOLDERS & MANAGERS
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Shareholders : |
The owner is said to be
Rajmohan KOTHARI. |
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Management : |
The CEO is Narendra
KARNAVAT. As far as we know, he is
not involved in other local businesses. |
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Subsidiaries
& Partnership : |
None |
FINANCIALS
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In United States, privately
held corporations are not required to publish any financials. On a direct call, a lady
hung up the phone as soon as she knew the purpose of our call. However, sales estimate
for year 2007 is in the range of USD 700,000= The business is profitable. |
Banks
Sovereign Bank
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) : |
None |
MARKET
ANALYSIS & FORECAST
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In the New York State,
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
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According to our credit analysts, during the last 6 months, 90% of
trade experience indicates a regular payment. Payments of imports are currently made with an average of 3 to 5 days
beyond terms. The Company is improving
its payments, but the cash is low, due to bad conditions of the market. The financial
institutions confirmed a low cash but regular payments. The risk is low. Our opinion: A business connection may
be conducted but we suggest you to check regularly the way of payments. |
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.73 |
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UK Pound |
1 |
Rs.80.57 |
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Euro |
1 |
Rs.64.29 |
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%)