MIRA INFORM REPORT

 

 

Report Date :

27.10.2008

 

IDENTIFICATION DETAILS

 

Name :

DISONS GEMS, INC.

 

 

Registered Office :

415 Madison Avenue, Suite 800, New York, NY 10017

 

 

Country :

United States

 

 

Date of Incorporation :

18.08.1980

 

 

Legal Form :

Corporation – Profit

 

 

Line of Business :

Importer, Wholesaler and Related Jewelry, Precious Stones, Diamonds, and Related Products.

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

 

Company Name   

 

DISONS GEMS, INC.

 

 

Contact Information

 

Address

415 Madison Avenue, Suite 800

New York, NY 10017

USA

Telephone

212-921-4133

Fax

212-730-8265

 

 

Registration Data

 

Date of Registration

August 18, 1980

Registration number

New York State does not issue organizational ID numbers.

Legal address

415 Madison Avenue, Suite 800

New York, NY 10017

USA

Legal Form

Corporation – Profit

 

 

Shareholders with Shares

 

Shareholder Names

Share%

Milan MEHTA

100

 

Board/Executive

 

Name

Milan MEHTA

Position within the company

President & CEO

 

 

Changes in Registration Data

 

None recorded

 

 

Activities (realistic and officials)

 

DISONS GEMS is importer, wholesaler and related jewelry, precious stones, diamonds, and related products.

 

 

Staff

 

Number of staff employed

23

 

 

Export/Import

 

(Countries, goods and total values for the period)

 

Imports From

Europe, Far East

 

Exports To

None

 

 

Facilities

 

Rented

Manufacture, showroom and office

 

Premises Size

6,400 sq. feet

 

 

 

Bankers

 

Bank

Republic National Bank

Address

New York, NY

Bank

HSBC Bank

Address

New York, NY

 

 

Suppliers, Partners

 

Suppliers

Not known

Partners

Not known

 

 

Litigation, Remarks on Payment

 

Litigation

None Recorded

Remarks on Payment

No Complaints

 

 

There are several UCC files listed with the Secretary of State of New York:

 

 

1.

Debtors:

DISONS GEMS, INC.

22 WEST 48TH STREET, NEW YORK, NY 10036-0000, USA

 

 

DISONS GEMS INC

Not Available

 

Secured Party Names:

REPUBLIC NATIONAL BANK OF NEW YORK

Not Available

 

 

 

 

 

File no.

File Date

Lapse Date

Filing Type

 

 

252656

10/03/1988

10/03/1993

Financing Statement

 

 

135125

06/25/1991

10/03/1993

Financing Statement Amendment

 

 

155874

07/20/1993

10/03/1998

Continuation

 

 

123733

06/10/1998

10/03/2003

Continuation

 

 

200304300907924

04/30/2003

10/03/2008

Continuation

 

 

200805095515812

05/09/2008

10/03/2013

Continuation

 

 

 

2.

Debtors:

DISONS GEMS, INC

22 WEST 48TH STREET, NEW YORK, NY 10036-0000, USA

 

Secured Party Names:

REPUBLIC NATIONAL BANK OF NEW YORK

Not Available

 

 

 

 

 

File no.

File Date

Lapse Date

Filing Type

 

 

031716

02/18/1992

02/18/1997

Financing Statement

 

 

235603

11/29/1996

02/18/2002

Continuation

 

 

242713

12/10/2001

02/18/2007

Continuation

 

 

200610306054348

10/30/2006

02/18/2012

Continuation

 

 

 

3.

Debtors:

DISONS GEMS, INC.

580 FIFTH AVENUE, NEW YORK, NY 10036-0000, USA

 

 

DISON GEMS, INC.

580 FIFTH AVENUE, NEW YORK, NY 10036-0000, USA

 

Secured Party Names:

REPUBLIC NATIONAL BANK OF NEW YORK

Not Available

 

 

 

 

 

File no.

File Date

Lapse Date

Filing Type

 

 

015811

01/25/1993

01/25/1998

Financing Statement

 

 

266143

12/29/1997

01/25/2003

Continuation

 

 

183928

08/09/2002

01/25/2003

Financing Statement Amendment

 

 

183930

08/09/2002

01/25/2008

Continuation

 

 

200710125994836

10/12/2007

01/25/2013

Continuation

 

 

 

4.

Debtors:

DISONS GEMS, INC.

22 WEST 48TH STREET, NEW YORK, NY 10036-0000, USA

 

 

DISON GEMS, INC.

22 WEST 48TH STREET, NEW YORK, NY 10036-0000, USA

 

Secured Party Names:

REPUBLIC NATIONAL BANK OF NEW YORK

Not Available

 

 

 

 

 

File no.

File Date

Lapse Date

Filing Type

 

 

017706

01/26/1993

01/26/1998

Financing Statement

 

 

265680

12/29/1997

01/26/2003

Continuation

 

 

183934

08/09/2002

01/26/2003

Financing Statement Amendment

 

 

183935

08/09/2002

01/26/2008

Continuation

 

 

200710125994848

10/12/2007

01/26/2013

Continuation

 

 

 

5.

Debtors:

DISONS GEMS, INC.

22 W. 48TH STREET, 3RD FLOOR, NEW YORK, NY 10036-0000, USA

 

Secured Party Names:

HSBC BANK USA

452 FIFTH AVENUE, NEW YORK, NY 10018-0000, USA

 

 

 

 

 

File no.

File Date

Lapse Date

Filing Type

 

 

192946

10/05/2000

10/05/2005

Financing Statement

 

 

200504285366879

04/28/2005

10/05/2010

Continuation

 

 

 

6.

Debtors:

DISONS GEMS, INC.

22 W 48TH ST FL 3, NEW YORK, NY 10036-1803, USA

 

Secured Party Names:

FANCY TRADING CO, LLC

1 ROCKEFELLER PLAZA, NEW YORK, NY 10020, USA

 

 

 

 

 

File no.

File Date

Lapse Date

Filing Type

 

 

200310031675738

10/03/2003

10/03/2008

Financing Statement

 

 

 

7.

Debtors:

DISONS GEMS, INC.

22 WEST 48TH STREET, NEW YORK, NY 10036, USA

 

 

DISONS GEMS, INC.

415 MADISON AVENUE, NEW YORK, NY 10017, USA

 

Secured Party Names:

THE CIT GROUP/COMMERCIAL SERVICES, INC.

1211 AVENUE OF THE AMERICAS, NEW YORK, NY 10036, USA

 

 

 

 

 

File no.

File Date

Lapse Date

Filing Type

 

 

200509285855787

09/28/2005

09/28/2010

Financing Statement

 

 

200510275938556

10/27/2005

09/28/2010

Financing Statement Amendment

 

 

 

8.

Debtors:

DISONS GEMS INC.

415 MADISON AVENUE, NEW YORK, NY 10017, USA

 

Secured Party Names:

M. FABRIKANT & SONS, INC.

1 ROCKEFELLER PLAZA, NEW YORK, NY 10020, USA

 

 

 

 

 

File no.

File Date

Lapse Date

Filing Type

 

 

200605115460169

05/11/2006

05/11/2011

Financing Statement

 

 

 

 

Financial Information

 

Source

Republic National Bank

Figures are

Declared

Currency

USD

 

Months

 

Sales Figures

 

Sales

 

12

 

31/12/2007

 

4,000,000=

 

 

Reporter Comments

 

Comments

On a direct call, it was impossible to obtain any information.

 

Local Reputation

The company being investigated is believed by local reporters to be a Low Trade Risk and to be fair.

 

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 2 to 5 days beyond terms.

 

 

NEWS

 

Date

31/05/2004

Source

Arab Steel News

Article

MPT - In November 2003, Universal Metal Coating Company awarded Danieli a contract for the turnkey supply of a 250.000 t/ year complex for the production of galvanized coils.
The project, which includes a pushing pickling line, a single-stand cold reversing mill, a continuous hot-dip galvanized line, slitting, recoiling and inspection line will be the first private sector facility for the production of galvanized coils.
Danieli will supply all the production lines as well as the necessary auxiliary facilities, such as acid regeneration plant, water treatment plant, compressed air production plant, hydrogen generation plant, electric power distribution, roll grinding shop, laboratory and production offices.
The heat treatment furnace as well as air knives and pot equipment for the galvanizing section will be provided by Danieli Kohler Centro Combustion and Danieli Automation will supply the complete automation and electrical systems.
Plant construction will start in April 2004 and production is expected to start in early 2006.

Date

03/05/08

Source

Arab Steel News

Article

UNICOIL Increase of Exports and Production in 1st Q ArabSteel - Production of Universal Metal Coating Company, Ltd (UNICOIL) during the first quarter of 2008 amounted to 49482 tons of cold-rolled products against 36291 tons during the same period in 2007. The company's production of coated and galvanized coils during the first three months of 2008 amounted to 74752 tons  against 62549 tons during the same period in 2007.
Exports of the galvanized and coated products during the first three months of 2008 amounting to 16181 tons account for 21.6% of the total production, while 37511 tons were sold to the domestic market. During the first quarter of 2008 sales to the domestic market which amounted to 25500 tons increased by about 12000 tons compared to the same period in 2007. Sales prices, whether to the domestic market or for exports, saw significant rises during the first months of 2008 compared to the same period in 2007.
According to Mr. Fahad Zamil Al-Thukair, President of the company, these rises began to appear clearly since the beginning of the third quarter of 2007 as a result of the high prices of the raw materials which saw rises ranging between 65 – 80%. According to Mr. Al-Thukair, these rises in prices taking place to the finished product came from the hot-rolled coils which, for UNICOIL, are considered raw materials in the production operations for cold-re -rolling and galvanizing. This increase came up to approximately 50% compared to 2007 and it is going on with further increases.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.77

UK Pound

1

Rs.79.78

Euro

1

Rs.63.36

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions