MIRA INFORM REPORT
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Report Date : |
11.08.2011 |
IDENTIFICATION DETAILS
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Name : |
Shivani Gems Inc |
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Registered Office : |
50 E. 42nd Street Suite 1001 New York, New York, 10017 |
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Country : |
United States |
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Date of Incorporation : |
29.02.1984 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Wholesales jewellery 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 : |
Small Company |
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Payment
Behaviour : |
Unknown |
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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: |
Shivani Gems Inc |
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Address in the order: |
589, Fifth Avenue, Suit No. 1107 New York Ny 10017, U.S. |
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Legal Name: |
Shivani Gems Inc |
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Legal Address |
50 E. 42nd Street Suite 1001 New York, New York, 10017, U.S. |
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Operative Address |
589, Fifth Avenue, Suit No. 1107 New York Ny 10017, U.S. |
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Telephone: |
+1 (212) 593-2750 |
ID : |
898229 |
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Fax: |
+ 1 (212) 593-2844 |
Legal Form: |
Corporation for Profit |
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Email: |
Registered in: |
New York |
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Website: |
www.shivanigems.com |
Date Created: |
NA |
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Manager: |
Mehul Shah, President |
Date Incorporated: |
February 29, 1984 |
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Staff: |
7 |
Stock: |
200 |
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Value: |
No Par Value |
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Activity: |
Wholesales jewellery and precious stones. |
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BANKS
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Name of the Bank |
Midwest Heritage Bank |
BUSINESS
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PRINCIPAL ACTIVITY |
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The company established itself as a major supplier of Fancy Shaped
Diamonds. Initially Shivani specialized in Marquise Diamonds and carved out a
very unique niche in the marketplace as the largest wholesaler of Marquises
in the world. Shivani’s home office is in Mumbai (Bombay) The Shivani brand is represented in full force with offices in New
York, Antwerp, Bangkok, Hong Kong, Tokyo and Dubai. Shivani Gems also manufactures its own jewelry line through its
subsidiary S&S Jewelry Corp. |
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Products/Services description: |
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Diamonds Necklaces Rings Earrings |
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Sales are: |
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Wholesale |
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Clients: |
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General Clientele |
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Operations area: |
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National |
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The company imports from India |
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The company does not export |
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The subject employs 7 employee(s) |
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LOCATION |
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Headquarters |
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The company is headquartered at 589 5th Avenue Room 1107 New York, NY 10017-7264 , U.S. |
Shareholders - Manager - Related Companies
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Shareholders Parent Company(ies): |
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This is a privately held company. Despite our long searches it has not
been possible to identify the shareholders |
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Management: |
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Mehul Shah, President Mike Cantjive, Manager. |
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Related Companies: |
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Dubai, UAE Tel: 971 4-235 3290 Fax: 971 4-235 3292 Email:
sales@fancystardiamonds.com Tokyo, Japan Tel: 81-3-3834-2906 Fax: 81-3-3834-2907 Email: sales@shivanigems.com Antwerp, Belgium Tel: 32-3 231 36 57 Fax: 32-3 226 04 61 Email: sales.simonigems@skynet.be
Bangkok, Thailand Tel: 662-630 07 49/50 Fax: 662-630 07 51 Email: sales@shivanigems.com Hong Kong Tel: 852 2723 2005 Fax: 852 2723 2005 Email: sales@simonigems.com Mumbai (Bombay), India Tel: 91 22-2369 0282 Fax: 91 22-2363 4805 Email: sales@ashwindiam.com |
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 refused to provide us any financial
data on grounds of confidentiality. |
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However our financial sources could provide us with the following
data. Those figures are estimates provided by confidential banking and
financial institutions working with the company. |
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Currency |
DATE |
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USD |
2010 |
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Turnover |
780.000 |
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Currency |
DATE |
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USD |
2009 |
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Turnover |
850.000 |
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Currency |
DATE |
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USD |
2007 |
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Turnover |
1.400.000 |
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Legal Fillings |
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There are 9 UCC's files listed with the
Secretary of State of New York. There are no legal filings listed with the
District Court. THE COMPANY IS NOT LISTED ON THE OFAC
LIST.* For information: * The Specially Designated Nationals (SDN)
List is a publication of OFAC which lists individuals and organizations with
whom United States citizens and permanent residents are prohibited from doing
business. ** 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 records 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 company with experience in this industry. The company's income has dropped compared to previous years. The UCC found demonstrate relative creditworthiness from the financial institution. We suggest monitoring for the company's length of payment. We believe that a small credit line can be granted. A review within 10 months is strictly required to assess the company's evolution. |
SUMMARY
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Profitability |
CORRECT |
Public |
NO |
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Indebtedness |
CONTROLLED |
Payments |
TO BE MONITORED |
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Cash |
NORMAL |
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APPENDIX
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Person Interviewed |
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Accountant Representative |
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Comments |
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We contacted the company successfully. However, the one who took the
call refused to provide us any kind of information on grounds of
confidentiality. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.20 |
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UK Pound |
1 |
Rs.73.51 |
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Euro |
1 |
Rs.64.76 |
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.