MIRA
INFORM REPORT
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Report Date : |
22.10.2008 |
IDENTIFICATION DETAILS
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Name : |
COMBINE INTERNATIONAL, INC |
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Registered Office : |
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Country : |
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Date of Incorporation : |
02.11.1977 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Manufactures and
Wholesales Diamonds and Precious Stone Jewellery |
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: |
COMBINE
INTERNATIONAL, INC.; Artistic; I L Manufacturing, Kay Sterling; Royal
Gemological Institute. |
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Address: |
354 Indusco Ct, Troy, MI
48083-4643, United
States |
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Phone: Facsimile: ID: State: Managers: |
+ 1 (248) 585-9900 + 1 (248) 585-8641 006345 Michigan Shrikant Mehta, President
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Date founded: |
02/11/1977
Corporation for Profit 220 employees |
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Legal form: |
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Staff: |
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Business: |
Manufactures and wholesales diamonds and precious stone jewellery. |
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BANKS
Comerica Bank
BUSINESS
Business & Operations:
Combine International Inc. also does business as Nsm; Artistic; I L Manufacturing, Kay Sterling; Royal
Gemological Institute.
Combine International Inc. is a private company located in Troy, Michigan.
Nsm's line of business is manufacturer and
wholesaler of diamonds and precious stone jewellery.
Industry Overview:
The US manufacturing sector includes about 300,000 companies with combined
annual sales of about $4 trillion. Major manufacturers include GM, Ford, GE,
IBM, Boeing, Hewlett-Packard, Proctor & Gamble, Merck, Cisco, and DuPont.
Although some companies like GE participate in many manufacturing sectors, the
specialized nature of most manufacturing processes requires companies to
specialize in a few types of products. Concentration tends to be high in those
industry segments that produce basic commodities, like steel or fertilizer, or
that requires high degrees of engineering, like car or plane manufacture. Most
sales by manufacturing companies are to other manufacturing companies.
Profitability depends on efficient and cost-effective manufacturing operations
and distribution. Small companies can compete by producing specialized products
or selling into specialized markets. Large companies have advantages of scale
in procurement, production, distribution, and marketing. Average sales per
employee vary greatly due to the large variety of products in this sector.
Major products of the US manufacturing sector include transportation equipment,
computers, electronics, food, chemicals, machinery, and products made of metal,
plastic, and paper. Annual revenue for manufacturers of cars and planes is
about $600 billion; computers and electronics, $450 billion; food, $425
billion; chemicals, $425 billion; machinery, $300 billion; metal products, $250
billion; plastics, $165 billion; and paper, $150 billion. Annual revenue of
manufacturers equals that of the wholesale trade sector, and is four times
larger than healthcare and construction. The net output of the manufacturing
sector is about $1.5 trillion, or 16 percent of the US gross domestic product.
Manufacture usually involves transforming raw materials, including unfinished
products and components, into altered configurations, using energy, machines,
and labor. Raw materials may be minerals or other mined materials (iron ore,
petroleum feedstock); materials grown as crops (cotton, rubber, foods); or
materials that have already been processed (steel bars, plastic pellets,
electronic components, car subassemblies). The processes of transformation are
conducted with varying degrees of efficiency by different companies. Because of
relatively high US labor costs, manufacturers of labor-intensive products often
locate manufacturing plants in less-expensive countries.
SHAREHOLDERS – SUBSIDIARIES
– MANAGERS
The director of the company
is:
Shrikant Mehta, President.
He is also one of the main
shareholders.
FINANCIALS – COMMERCIAL TRENDS
AND FORECAST
Combine International Inc. does not publish any financial statement.
However
our financial sources could provide us with the following information:
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Fiscal Year In USD |
12/31/2007 |
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Turnover |
17,300,000 |
LEGALS
0 Suits
0 Judgments
0 Liens
0 Collection Claims
Reported
0 NSF Cheques Reported
1 UCC Filing in 2005 by
Comerica Bank securing Assets. Amount: NA
1UCC Filing in 2005 by Dell
Financial Services securing Accounts & Equipment. 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 that all local and federal taxes were paid on due date.
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The cash flow is correct.
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Payments are made on a regular basis.
Our final opinion:
This is a large company
working worldwide.
A credit line may be
considered.
SUMMARY
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FINANCIAL SUMMARY |
DEBT COLLECTIONS
AND PAYMENTS |
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PROFITABILITY INDEBTNESS CASH |
Correct Controlled Correct |
PUBLIC PAYMENTS |
See Details Above Regular |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.79 |
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UK Pound |
1 |
Rs.81.27 |
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Euro |
1 |
Rs.63.91 |
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%)