MIRA INFORM REPORT
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Report Date : |
11.06.2011 |
IDENTIFICATION DETAILS
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Name : |
PRESTIGE JEWELRY INTERNATIONAL INC |
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Formerly Known As : |
MITEN JEWELRY, INC |
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Registered Office : |
529 5th Ave, 17th Fl, New York, 10017 |
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Country : |
United States |
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Date of Incorporation : |
12.01.1993 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Jewelry, Watch, Precious Stone and Precious Metal Merchant
Wholesalers. |
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 : |
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 – 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: |
Prestige Jewellery |
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Address in the order: |
529, 5th Avenue, 17 Floor, New York, NY 10017 |
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Legal Name: |
Prestige Jewelry International INC |
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Legal Address |
529 5th Ave, 17th Fl, New York, 10017, USA. |
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Telephone: |
+1 (212) 681-0100 |
ID : |
1693672 |
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Fax: |
+1 (212) 681-0311 |
Legal Form: |
Corporation for Profit |
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Email: |
dsanghavi@jewelry.com |
Registered in: |
New York |
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Website: |
NA |
Date Created: |
1993 |
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Manager: |
Rajiv Kothari, Chief Executive Officer |
Date Incorporated: |
January 12, 1993 |
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Staff: |
30 |
Stock: |
2,000 |
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Value: |
No par value |
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Activity: |
Jewelry, Watch, Precious Stone and Precious
Metal Merchant Wholesalers. |
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BANKS
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Name of the Bank |
ANTWERP DIAMOND BANK N.V. |
BUSINESS
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HISTORY |
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This company was founded in 1993. It was formerly known as "MITEN JEWELRY, INC." and then changed
its name in 2005 to "Prestige Jewelry International, INC.". |
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PRINCIPAL ACTIVITY |
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Jewelry, Watch, Precious Stone and
Precious Metal Merchant Wholesalers. The company made a partnership with Firestone
International of India, an international diamond and jewelry manufacturer. |
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Sales are: |
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Wholesale |
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Clients: |
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Professionals of the industry |
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Suppliers: |
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The person contacted refused to provide the name of the suppliers for us
to check trade references |
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Operations area: |
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National |
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The company imports from India, Bangkok and Hong Kong. |
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The subject employs 30 employee(s) |
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PAYMENTS |
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regular |
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LOCATION |
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Headquarters |
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The company is headquartered in 529 5th Ave, 17th Fl, New York, 10017,
USA. |
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Comments on location: |
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Single location |
Shareholders - Manager - Related Companies
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Listed at the stock exchange: |
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NO |
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Shareholders Parent Company(ies): |
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This is a private company. Rajiv Kothari is the main shareholder of
the company. |
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Management: |
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Rajiv Kothari, Chief Executive Officer Miten Kothari, Director Mala Zelki, Office Manager |
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 operator of the company, who refused to provide any
financial information without knowing the name of the inquiring party. |
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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 |
4,200,000 |
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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 |
4,100,000 |
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The cash flow is |
Normal |
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Legal Fillings |
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There
are several UCC** 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 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 American company which
employs 30 persons and has 17 years of experience in the market. There were no legal filings found against
the company or its legal representatives. There were no significant changes
regarding the company's revenue from 2008 to 2010. |
SUMMARY
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Profitability |
CORRECT |
Public Records |
NO |
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Indebtedness |
N.A. |
Payments |
REGULAR |
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Cash |
NORMAL |
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APPENDIX
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Position |
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Operator |
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Comments |
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The person contacted refused to provide us any 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.44.72 |
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UK Pound |
1 |
Rs.72.93 |
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Euro |
1 |
Rs.64.72 |
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.