MIRA
INFORM REPORT
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Report Date : |
17.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
DIAMLINK
INC. |
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Registered Office : |
500 7th Avenue, Floor 12b, New York, NY 10018 |
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Country : |
United States |
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Date of Incorporation : |
29.10.1984 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Wholesales Jewellery and
Precious Stones |
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 |
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: |
DIAMLINK INC. |
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Address: |
500 7th Avenue,
Floor 12b, New York,
NY 10018, USA |
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Phone: Facsimile: ID: State: Managers: |
+ 1 (212) 704-0777 + 1 (212)
944-2752 953119 New York Chetan
Choski, President |
Date founded: |
Oct 29, 1984 N.A. N.A. 15
employees |
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Legal form: |
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Stock: Value: |
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Staff: |
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Business: |
Wholesales jewellery and precious stones. |
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BANKS
JP Morgan Chase Bank
Sovereign Bank
BUSINESS
Business & Operations:
Diamlink Inc. is a private company located in New York.
Diamlink Inc. is a wholesaler of jewelry and precious stones.
The company has international connection with a parent company in
Belgium.
Industry Overview:
The US jewelry industry
generates annual revenues of about $25 billion from 30,000 specialty stores.
Large companies include Zale, Tiffany, and Sterling Jewelers. The industry is
fragmented: the top 50 jewelry chains hold less than half of the market.
Jewelry sales depend
partly on consumer income. Small jewelers can effectively compete with large
chains because price isn't the main factor determining sales. Profitability
depends on merchandising and effective marketing. Average industry revenue per
worker is about $160,000.
Jewelry is also
sold in department and discount stores, and by mass merchants. Because regular
gross margins are very high, often 50 percent, mass merchants have been able to
cut prices and take market share. Wal-Mart is the largest jewelry retailer in
the US.
SHAREHOLDERS – SUBSIDIARIES
– MANAGERS
The directors of the
company are:
Chetan Choski, President,
Nehal Modi, vice President.
The parent company is Diminco NV (Antwerp, Belgium)
FINANCIALS – COMMERCIAL TRENDS
AND FORECAST
As a private company,
Diamlink Inc. does not publish any financials.
However our source provide us with the following information :
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Fiscal Year USD |
12/31/2007 |
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Turnover
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3,200,000 |
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LEGALS
0 Suits
0 Judgments
0 Liens
0 Collection Claims
Reported
0 NSF Cheques Reported
1 UCC Filing in 2007,2005
& by JP Morgan Chase Bank securing Inventory & Accounts Receivable.
Amount:NA
1 UCC Filing in 2006 &
2005 by Sovereign Bank securing Accounts Receivable & Inventory. Amount:NA
All previous UCC Filings
have been cleared
RATING
Local credit bureau gave a
correct credit rate.
The Company is in “good
standing”.
This means only that all
local and federal taxes were paid on due date.
Payments are made on a
regular basis.
Cash is correct.
Our final opinion:
This is a small company
working worldwide.
A credit line may be
considered.
A business connection may
be conducted.
SUMMARY
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FINANCIAL SUMMARY |
DEBT COLLECTIONS
AND PAYMENTS |
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PROFITABILITY INDEBTNESS CASH |
Correct Controlled Correct |
PUBLIC PAYMENTS |
No Regular |
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.99 |
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UK Pound |
1 |
Rs.72.14 |
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Euro |
1 |
Rs.61.57 |
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%)