MIRA INFORM REPORT
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Report Date : |
19.07.2011 |
IDENTIFICATION DETAILS
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Name : |
KGK DIAMONDS LLC |
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Registered Office : |
36 W 44th St, 13th Floor, New York, New York, 10036 |
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Country : |
United States |
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Date of Incorporation : |
29.01.1998 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Wholesaler of Jewelry, Watch, Precious Stone |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small Company |
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Payment
Behaviour : |
Usually Correct |
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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 – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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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: |
KGK Diamonds LLC |
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Address in the order: |
36 West, 44th Street, 13th Floor, New York, NY |
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Legal Name: |
KGK Diamonds LLC |
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Legal Address |
36 W 44TH ST 13TH FLOOR NEW YORK, NEW YORK, 10036 USA |
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Telephone: |
212 221-6630 |
Corporate ID : |
2222987& |
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Fax: |
212 221-7937 |
Legal Form: |
Limited Liability Company |
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Email: |
jewny@kgkgroup.com |
Registered in: |
New York |
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Website: |
www.kgkdiamond.com |
Date Created: |
1997 |
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Manager: |
Vinay Kothari Owner |
Date Incorporated: |
JANUARY 29, 1998 |
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Staff: |
14 |
Stock: |
NA |
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Value: |
NA |
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Activity: |
Wholesaler of Jewelry, Watch, Precious
Stone |
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BANKS
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Name of the Bank |
ANTWERP DIAMOND BANK N.V. |
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Name of the Bank |
ABN AMRO BANK N.V. |
BUSINESS
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HISTORY |
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KGK Diamonds LLC is a diamond
trading company since 1997. |
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PRINCIPAL ACTIVITY |
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Wholesales of jewelry, watches and precious metals and stones. |
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Products/Services description: |
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Jewelry: Princess pride Fantasy Love-Forever Heave-n-Earth Colors of life Love-n-Faith Gems: Cellini Green cellini Yellow Queen of Belgium Briolette of June Nizam Nepal Cullinan I Cullinan II Cullinan III Bruswick Blue |
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Operations area: |
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National, International |
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The company imports from mainly form India |
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Trade References: |
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Despite our searches we were not able to find any company's trade
references. |
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The subject employs 14 employee(s) |
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PAYMENTS |
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regular |
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Comments on location: |
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The company is headquartered in New York |
Shareholders - Manager - Related Companies
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Shareholders Parent Company(ies): |
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The KGK Group, is a global corporation
based in India and headed by Navrattan Kothari. |
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Management: |
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Vinay Kothari Manager Rahul Shah
Bookeeper Prashant Kothari Member |
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Related Companies: |
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CHINA KGK Diamonds (Shanghai) Co. Ltd KGK Diamonds (SZ) Co., Ltd. KGK Jewellery Mfg. Ltd. THAILAND KGK Diamonds Ltd. KGK Gems Limited JAPAN KGK Diamonds (Far East) Inc. KGK Jewellery Inc. BELGIUM K.G.K. Diamonds B.V.B.A. GERMANY M. B. K. Diamonds GmbH SOUTH AFRICA Star Rough Diamonds (Pty) Ltd. USA KGK jewellery Inc Precious Trade Inc. HONG KONG KGK Diamonds(HK) Ltd. KGK Jewellery (HK) Ltd. INDIA KGK Enterprises KGK Jewellery Pvt. Ltd. UAE KGK Diamonds & Jewellery LLC |
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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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 |
1,900,000 |
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The cash flow is |
Normal |
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Currency |
DATE |
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USD |
2009 |
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Turnover |
2,000,000 |
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The cash flow is |
Normal |
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Currency |
DATE |
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USD |
2008 |
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Turnover |
1,900,000 |
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The cash flow is |
Normal |
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Legal Fillings |
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There are several recent UCC** files listed
with the Secretary of State of New York. Filing Number: 2010 0020721 Filing Date: 01-05-2010 Secured Party: KGK DIAMONDS LLC Debtor: THE
NEIMAN MARCUS GROUP, INC. Filing Number: 097216136055 Filing Date: 12-04-2009 Secured Party: KGK DIAMONDS LLC Debtor: ELBA
JEWELRY, INC. Filing Number: 0907160413228 Filing Date: 07-16-2009 Secured Party: K.G.K. DIAMONDS LLC Debtor: AIMOD
DIAMONDS LTD. Filing Number: 2090001974457 Filing Date: 06-05-2009 Secured Party: KGK DIAMONDS, LLC Debtor: H.E.
MURDOCK COMPANY, INC. Filing Number: 097190590353 Filing Date: 03-16-2009 Secured Party: K.G.K. DIAMONDS LLC Debtor: THE
RIGHT SOURCE, INC. Filing Number: 0808048314916 Filing Date: 08-04-2008 Secured Party: ANTWERP DIAMOND BANK N.V. There are no legal filings listed with the
District Court. The last annual report was filed on 2010. 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 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 size business with 14
employees. The subject has several years in business. The company’s turnover can be considered
fair for the company’s size. Since the sales slightly decreased from
last year we suggest making a follow-up report within 12 months to monitor
the subject’s evolution. |
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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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.57 |
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UK Pound |
1 |
Rs.71.75 |
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Euro |
1 |
Rs.62.60 |
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 |
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NB |
New Business |
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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%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.