MIRA INFORM REPORT

 

 

Report Date :           

24.06.2011

 

IDENTIFICATION DETAILS

 

Name :

TRADEWELL ENTERPRISES INC.

 

 

Registered Office :

15 West 47th Street, Suite 1301, NY 10036

 

 

Country :

United States 

 

 

Date of Incorporation :

13.03.2002

 

 

Legal Form :

Corporation for Profit

 

 

Line of Business :

Wholesales jewellery

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Unknown

 

 

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

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

United States 

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 Bottom of Form

 

 

GEOPOLITICS - UNITED STATES

 

POLITICAL DATA

ECONOMIC DATA

Form of Government: Federal


Economic Risk: Nil

Currency: USD

Branch Situation: Stable

 

 

IDENTIFICATION

 

Ordered as:

Tradewell Enterprises

Address in the order:

15 West 47th Street Suite No. 1301 NY 10036

 

 

Legal Name:

TRADEWELL ENTERPRISES INC.

 

 

Legal Address

15 West 47th Street, Suite 1301, NY 10036, USA

 

 

Telephone:

+ 1 (212) 869-5200

ID :

2742223

Fax:

+ 1 (212) 869-5400

Legal Form:

Corporation for Profit

Email:

NA

Registered in:

New York

Website:

NA

Date Created:

2002

Manager:

Thaika Meeran Haroon, President

Date Incorporated:

MARCH 13, 2002

Staff:

5 employees

Stock:

NA

 

 

Value:

NA

Activity:

Wholesales jewellery.

 

 

BANKS

 

Name of the Bank

HSBC

 

 

BUSINESS

 

PRINCIPAL ACTIVITY

 

Tradewell Enterprises Inc. is a private company specialized in wholesaling Jewellery.

 

The company is known for cost effective and finish in jewellery with years of experience in jewellery business in Far East.

 

The business is established US.

 

Their experience insight help them to penetrate the fast growing, and booming retail value region and explore opportunities for emerging markets like Qatar and Abu Dhabi.

 

This is a small company.

Sales are:

 

Wholesale

Operations area:

 

National, International

Trade References:

 

Despite extensive searches we were unable to confirm the trade references with the staff.

The subject employs 5 employee(s)

PAYMENTS

 

To be monitored.

Comments on location:

 

The company’s head office is in Hong Kong:

 

HONG KONG:

TRADEWELL ENTERPRISES (HK),

RM, 1101, Hart Avenue Plaza,

5-9, Hart Avenue,

T.S.T., Kowloon,

Hong Kong

 

The company also has associate offices in: Thailand and India:

 

THAILAND OFFICE:

TRADEWELL ENTERPRISES CO, LTD.

3707, Jewelery trade centre,

919/447, Silom Road,

Bangrak,

Bangkok - 10500

Thailand

 

 

INDIA:

M/S, PARAGON IMPEX,

A1, Dreamland Building,

Mama Parmanand Marg,

Mumbai - 400004

India

 



Shareholders - Manager - Related Companies

 

Shareholders Parent Company(ies):

 

Thaika Meeran Haroon, Owner.

Management:

 

 

Thaika Meeran Haroon, President.

Muflih O Farook,       Vice President.

Melanie Ontoine,       Accountant.



Financials - COMMERCIAL TRENDS AND FORECAST

 

As a private company the subject does not publish any financial statements.

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 (Confirmed by the staff).

 

 

 

Currency

DATE

USD

2010

Turnover

3,000,000

 

 

Currency

DATE

USD

2008

Turnover

3,800,000

 

Legal Fillings

 There are several UCC files listed with the Secretary of State of New York, among them:

 

 

1. 

 Filing Number:  0906038190944

Filing Date:  06-03-2009

Filing Jurisdiction:  NEW YORK

Filing Location:  SECRETARY OF STATE/UCC DIVISION

   162 WASHINGTON AVE

ALBANY  NY   12210

Filing History:  Filing Type Filing Date

INITIAL FILING 06-03-2009

TERMINATION 06-22-2009

 

 

 

--------------------------------------------------------------------------------

 

Secured Party:  ALMA DIAMONDS INC.

Secured Party Address:  579 5TH AVE RM 600

NEW YORK  NY   10017- 8838

 

 

--------------------------------------------------------------------------------

 

Debtor:  TRADEWELL ENTERPRISES INC.

Debtor Address:  71 W 47TH ST STE 402

NEW YORK  NY   10036- 2819

 

 

--------------------------------------------------------------------------------

 

Collateral Description:  UNSPECIFIED

Collateral Count: 

 

 

 

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

 

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.

 

 

 Final Opinion

 

The company's income and size decrease compared to the previous year. Though,

its income remains correct for its size.

 

The company also has some experience in the industry and international networks.

 

We would suggest some monitoring for the length of payment.

 

A credit line with monitoring within 8 months is advised.

 




SUMMARY

 


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

Profitability

MEDIUM

Public Records

NO

Indebtedness

CONTROLLED

Payments

TO BE MONITORED

Cash

CORRECT

 

 

 

 

APPENDIX

 

Comments

 

A female representative confirmed all the information in the report.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.93

UK Pound

1

Rs.72.09

Euro

1

Rs.64.21

 

 

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

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

----

NB

New Business

----

 

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.