MIRA
INFORM REPORT
|
Report Date : |
26.09.2008 |
IDENTIFICATION
DETAILS
|
Name : |
GEM STAR INC |
|
|
|
|
Registered Office : |
1111, A Flinch Aye West,
Suite 100, North York, Ontario M3J 2P7 |
|
|
|
|
Country : |
Canada |
|
|
|
|
Date of Incorporation : |
10.06.1982 |
|
|
|
|
Legal Form : |
Ontario Corporation –
Profit |
|
|
|
|
Line of Business : |
Wholesaler of Diamond Importing from Major Diamond Dealers in Belgium
and India. |
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
GEM STAR INC
Address
1111, A Flinch Aye West,
Suite 100, North York, Ontario M3J 2P7 Canada
Telephone : 416-667-9397
Fax : 416-667-9399
Website : www.gemstar.ca
summary
|
Corporate
ID# : State : Judicial
form : Date
founded : Stock : Value: Name of manager: |
ON-0000514904 Ontario Ontario Corporation –
Profit June 10, 1982 - - Bushan VORA |
ACTIVITIES
& OPERATIONS
|
Business Staff: |
Gem Star is a Toronto based diamond wholesaler importing from major
diamond dealers in Belgium and India. Over twenty years of active diamond trading has given Gem Star a
respected position in the Canadian diamond industry. 8 |
|
Operations & branches: |
At above address, we find
a store, warehouse and office, on lease. |
SHAREHOLDERS & MANAGERS
|
Shareholders : |
This is a family owned and managed company. |
|
Management : |
Bushan Vora is the
President and CEO. Other managers include: - Raj Vora Ashit Sanghvi and Rohita Vora are in charge of accounting. |
|
Subsidiaries & Partnership : |
None |
FINANCIALS
In Canada, privately held corporations
are not required to publish any financials.
On a direct call, nobody
was available 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 4,000,000=
The business is said to be
profitable.
Banks
HSBC Bank
LEGAL FILINGS
|
Legal filings
& complaints : |
As of today date, there
is no legal filings pending with the Courts. |
|
Secured debts
summary : |
None |
COMPANY
CREDIT HISTORY
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.
The Company maintains a
regular business.
The risk is low.
Our opinion:
A business connection may
be conducted.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.46.43 |
|
UK Pound |
1 |
Rs.85.38 |
|
Euro |
1 |
Rs.67.95 |
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%)