MIRA INFORM REPORT
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Report Date : |
13.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
VIMCO DIAMOND CORP. |
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Registered Office : |
1156
Sixth Avenue, Suite 602, New York, NY 10036 - USA |
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Country : |
USA |
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Date of Incorporation : |
11.13.1985 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
Importer, Wholesaler
Distributor and Retailer 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 : |
Good |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Company name & address
Company
name : VIMCO DIAMOND CORP.
Address : 1156 Sixth Avenue, Suite 602, New York, NY 10036 - USA
Telephone : 212-302-7188
Fax : 212-302-2047
Website : www.vimcodiamond.com
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 11-13-1985 - - Dhamendra HIRAWAT |
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ACTIVITIES & OPERATIONS
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Business Staff: |
The Company is importer,
wholesaler distributor and retailer of diamonds. Imports from Thailand,
India, Belgium and other countries. Sells to manufacturers
and private people locally. VIMCO DIAMOND is working
with the Tache Alliance (Belgium). 7 |
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Operations & branches: |
At above address, we find
a store and office, on lease. |
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SHAREHOLDERS & MANAGERS
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Shareholders : |
The major shareholders are Anu and Dharmendra HIRAWAT. They are from Jaipur, India. |
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Management : |
Dharmendra HIRAWAT is the
President and CEO. Anu HIRAWAT is a
Director. They are also the
managers of: ANU CHIRAG GEMS CORP. 1156 Sixth Avenue; Suite
602, New York, NY 10036 Incorporated in New York
State of January 10, 1997 |
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Subsidiaries & Partnership : |
Vimco Diamond Schupstraat 18/20, 7th floor Sentiment Ltd. Jewelry Trade Center 919/378 30th Floor |
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FINANCIALS
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In United States, privately
held corporations are not required to publish any financials. On a direct call, nobody
accepted to answer our questions. We sent a fax but no
answer was received. However, sales estimate
for year 2007 is in the range of USD 9,000,000= The business is said to
be profitable. |
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Banks
PNC Bank
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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 |
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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. |
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COMPANY CREDIT HISTORY
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According to our credit analysts, during the last 6 months, 95% of
trade experience indicates a regular payment. Payments of imports are currently made on terms. The Company maintains a
regular business. The banks and financial
institutions confirmed a correct credit history. The risk is low. Our opinion: A business connection may
be conducted. |
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.77 |
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UK Pound |
1 |
Rs.80.67 |
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Euro |
1 |
Rs.64.20 |
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%)