MIRA INFORM REPORT
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Report Date : |
19.04.2011 |
IDENTIFICATION DETAILS
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Name : |
JAY GEMS INC. |
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Registered Office : |
590 5th Ave Ste 1801 New York, New York, 10036 |
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Country : |
United States |
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Date of Incorporation : |
22.11.2000 |
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Legal Form : |
Corporation For Profit |
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Line of Business : |
Jewelry Supplier |
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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Maximum Credit Limit : |
USD 30.000. |
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Status : |
Satisfactory |
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Payment
Behaviour : |
Regular |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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United States |
a1 |
a1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
GEOPOLITICS - UNITED STATES
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POLITICAL DATA |
ECONOMIC DATA |
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Form of Government: Federal
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Currency: USD |
IDENTIFICATION
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Ordered as: |
Jay Gems Inc |
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Address in the order: |
590-Fifth Avenue, Suite #1801, NY 10036, U.S. |
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Legal Name: |
Jay Gems Inc. |
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Legal Address |
590 5th Ave Ste 1801 New York, New York, 10036 , U.S. |
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Telephone: |
(212) 751-2575 |
Id : |
2605293 |
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Fax: |
(212) 751-2575 |
Legal Form: |
Corporation For Profit |
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Email: |
NA |
Registered In: |
New York |
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Website: |
Date Created: |
NA |
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Manager: |
Siraj Shah, CEO |
Date Incorporated: |
November 22, 2000 |
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Staff: |
17 |
Stock: |
200 |
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Value: |
No Par Value |
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Activity: |
Jewelry Supplier |
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BUSINESS
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PRINCIPAL ACTIVITY |
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Jewelry designer and supplier. |
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Products/Services description: |
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Rings Earrings Pendants Bracelets Necklaces Among others... |
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Sales are: |
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Wholesale |
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Clients: |
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Various industries |
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Operations area: |
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National |
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The company imports from Europe |
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The company does not export |
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The subject employs 17 employee(s) |
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PAYMENTS |
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made on a 60 days basis - monitored over the last 12 months |
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LOCATION |
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Headquarters |
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The company is headquartered at: 590 Fifth Avenue, Suite 1801 New York, NY,USA . |
Shareholders - Manager - Related Companies
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Shareholders Parent Company(ies): |
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The Company Has Changed Its Name For Jay Gems Inc. In The Year 2007. At First, It Was Called
Simply Diamonds, Inc Which Is Shown As Inactive Currently - Merged Out (Dec
05, 2007). This Is A Private Company And Siraj Shah Is One Of The Major
Shareholders. |
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Management: |
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Siraj Shah, CEO Roopam Jain, Vice-president Shetal Shah, Manager Piyush Shah, Finance Controller |
Financials - COMMERCIAL TRENDS AND FORECAST
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As a private company the subject does not publish any financial
statements. |
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We have contacted the company but they refused to provide us any
financial data on grounds without knowing the name of the inquiring party. |
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However our financial sources could provide us with the following data
(estimates): |
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Currency |
DATE |
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USD |
2009 |
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Turnover |
2,100,000 |
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The cash flow is |
Normal |
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Legal Fillings |
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There are 49 UCC files listed with the Secretary
of State of New York. There are no legal filings listed with the
District Court. For information: The Uniform Commercial Code (UCC) is one
of a number of uniform acts that have been promulgated in conjunction with
efforts to harmonize the law of sales and other commercial transactions in
all 50 states within the United States of America. The UCC deals primarily with transactions
involving personal property (movable property), not real property (immovable
property). It allows a creditor to notify other
creditors about a debtor’s assets used as collateral for a secured
transaction by filing a public notice (financing statement) with a particular
filing office. The Uniform Commercial Code Bureau files
and maintains on financial obligations (including IRS liens) incurred by
individuals (in business as a sole proprietor), business entities and
corporations. |
Rating
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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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Final Opinion |
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This is a small sized company with 17
employees that has been doing business for 10 years. There were no legal fillings found against
the company or its legal representatives, which makes it a more reliable
company. A credit line may be considered for USD
30.000. |
SUMMARY
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Profitability |
CORRECT |
Public Records |
NO |
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Indebtedness |
CONTROLLED |
Payments |
REGULAR |
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Cash |
NORMAL |
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APPENDIX
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Person Interviewed |
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Receptionist |
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Comments |
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She refused to provide further information without knowing the name of
the inquiring company. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.27 |
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UK Pound |
1 |
Rs.7208 |
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Euro |
1 |
Rs.63.66 |
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 |
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 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.