MIRA
INFORM REPORT
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Report Date : |
14.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
THE RICH GEMS |
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Registered Office : |
303[B] Wisara Rd Sanchaun TSP Yangaon |
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Country : |
Myanmar |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
20 09 1978 |
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Legal Form : |
Proprietorship
Company |
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Line of Business : |
Locally Produced Pearl Trader, Importer and Exporter of Finished Products Distributor Agent and General Merchant of Pearl Jade and Jewellery Gem and Silverware Pearl Bangles Earring Necklace Locket and Rings Pearl Sets and variety of Pearl Gems Jade and Silver Ornaments and Jewelleries |
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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Maximum Credit Limit : |
USD 50000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Company Name & Address
THE RICH GEMS
303[B] WISARA RD
SANCHAUN TSP
YANGAON MYANMAR
Registered address AT HEADING ADDRESS
Operating Address AT HEADING ADDRESS
Telephone
951 536272 296578
Fax 951
515072 201330
Telex NONE
Branches AT CORNER OF MAHA BANDOOLA RD & THEINBYU ST
YANGON
Factory NONE
Date, Established
20 09 1978
Incorporation No/LIC NO
671 20 09 1998
Legal Status
PROPRIETORSHIP
COMPANY
Businesses
LOCALLY PRODUCED PEARL TRADER,
IMPORTER AND EXPORTER OF FINISHED PRODUCTS
DISTRIBUTOR AGENT AND GENERAL MERCHANT OF PEARL JADE
AND JEWELLERY GEM
AND SILVERWARE PEARL BANGLES EARRING NECKLACE LOCKET AND
RINGS PEARL SETS AND VARIETY OF PEARL GEMS JADE AND SILVER ORNAMENTS AND JEWELLERIES
Board of Director
DAW KHAUNG NYWEI – OWNER
Bankers
MYANMA FOREIGN TRADE
BANK POBOX 203 YANGON
Payments
BELIEVED TO BE PROMPT. NO PAYMENT TRACK HISTORY DISCLOSED
Financial Position
VERY GOOD. LEARNT
ADEQUATE RESOURCES AVAILABLE
Public
NOTHING HEARD DETRIMENTAL OR UNCOVERED
Shareholders
DAW KHAUNG NYWEI
100%
Associates
NONE
History
REPUTED CO
Buying/Selling term
PER 100% IRREVOCABLE
AND CONFIRMED L/C AT SIGHT DRWAN BASIS
Credit Maximum
[USD] 50000 CAN BE GRANTED ON MUTUAL AGREED SECURED
AND PROTECTED TERM
Agency
NONE
Trade Suppliers
NONE
Premises
RENTED BASIS
Employs
25 +
Member
OF A LOCAL CHAMBER OF COMMERCE AND OTHER TRADE ASSOCIATIONS
Sources
REPORT IS PRODUCED FROM
COLLECTIVE RESULTS OF LOCAL AGENTS
Remarks
SUBJECT IS CONSIDERED TO BE GOOD FOR ANY NORMAL BUSINESS ENGAGEMENT
CAPITAL
AS AT 31
12 2007 IN KYAT /MILLION [UNAUDITED]
FIXED ASSETS 10.00
Inventories 8.55
Receivables 6.81
Cash 1.44
CURRENT ASSETS 16.80
Total 26.80
Capital invested 5.00
Reserves/surplus 6.55
Deferred liabilities 6.71
LT liabilities 5.65
Current liabilities 2.89
Total
26.80
Turnover approx 50.00
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.47.71 |
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UK Pound |
1 |
Rs.83.30 |
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Euro |
1 |
Rs.65.12 |
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%)