MIRA
INFORM REPORT
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Report Date : |
16.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
ZARCO GEM CORP. |
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Registered Office : |
37 West 47th
Street, Suite 501, New York, NY 10036 |
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Country : |
United States |
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Date of Incorporation : |
11.20.1987 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
Importer, Manufacturer,
Retailer of Jewelry, Diamonds 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 : |
No Complaints |
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Litigation : |
Clear |
Company name
ZARCO GEM CORP.
Address
37 West 47th Street, Suite 501, New York,
NY 10036 – USA
Telephone : 212-840-1687
Fax : 212-944-9241
Website :
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 11-20-1987 - - Djalal ZAR |
ACTIVITIES
& OPERATIONS
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Business Staff: |
Importer, manufacturer, retailer
of jewelry, diamonds and precious stones. 4 |
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Operations & branches: |
At above address, we find
a store on 1,500 sq. feet, on lease. |
SHAREHOLDERS & MANAGERS
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Shareholders : |
This is a family owned and managed company. |
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Management : |
Djalal ZAR is the
President. Kamy ZAR is Vice
President and Secretary. Siamak ZAR is Vice
President and Treasurer. As far as we know, they
are not involved in other local business. |
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Subsidiaries & Partnership : |
None |
FINANCIALS
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.
Sales declared for year
2007 is USD 720,000=
The business is said to be
profitable.
Banks
Valley
National Bank
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 |
MARKET
ANALYSIS & FORECAST
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.
COMPANY
CREDIT HISTORY
According to our credit analysts, during the last 6 months, 86% of trade
experience indicates a regular payment.
Payments of imports are currently made with an average of 10 to 15 days
beyond terms.
The Company is improving
its payments, but the cash remains low, due to high inventories and bad
conditions of the market.
The bank and financial
institutions confirmed a low account.
The risk is medium.
Our opinion:
A business connection may
be conducted but we suggest you to check regularly the way of payments.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.94 |
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UK Pound |
1 |
Rs.82.84 |
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Euro |
1 |
Rs.65.95 |
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%)