MIRA INFORM
REPORT
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Report Date : |
30.03.2011 |
IDENTIFICATION DETAILS
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Name : |
REAL GEMS
CORPORATION |
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Registered Office : |
6222, Richmonds, |
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Country : |
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Date of Incorporation : |
21.10.1982 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Jewelry and Precious Stones Wholesaler |
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 – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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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: |
Real Gems Corporation |
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Address in the order: |
6222, Richmonds, |
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Legal Name: |
REAL GEMS CORPORATION |
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Legal Address |
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Operative Address |
6222, Richmonds, |
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Telephone: |
+ 1 (713) 783-5500 |
ID : |
52882974 |
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Fax: |
+ 1 (713) 977-7325 |
Legal Form: |
Corporation for Profit |
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Email: |
Registered in: |
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Website: |
Date Created: |
1982 |
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Manager: |
Rajeev Daga, Owner |
Date Incorporated: |
October 21st, 1982 |
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Staff: |
13 |
Stock: |
NA |
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Value: |
NA |
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Activity: |
Jewelry and precious stones Wholesaler |
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BANKS
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Name of the Bank |
SOUTHERN NATIONAL BANK OF |
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Name of the Bank |
BELLFORT NATIONAL BANK |
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Name of the Bank |
PROSPERITY BANK |
BUSINESS
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HISTORY |
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The company was founded in 1982. |
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PRINCIPAL ACTIVITY |
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The company is categorized under precious stones and diamonds
wholesaler. |
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Products/Services description: |
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Diamonds Engagement rings Necklaces Pendants |
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Sales are: |
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Wholesale, Retail |
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Clients: |
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Various industries General clientele |
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Operations area: |
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National, International, Local |
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The company imports from Europe, |
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The company does not export |
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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 at |
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Branches: |
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There were no branches found for this company |
Shareholders - Manager - Related Companies
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Shareholders Parent Company(ies): |
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The company is privately held, and has Rajeev Daga as the main
shareholder |
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Management: |
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Rajeev Daga, Owner Udai Jain, President |
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 Parikh, she provide us with most of the information about
the company; However she refused to confirm or provide us with any financial
information due to confidentiality reasons. |
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Currency |
DATE |
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USD |
2010 |
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Turnover |
2,300,000 |
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Legal Fillings |
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There are 5 UCC files listed with
the Secretary of State of Texas. 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 ** 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 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 company has been in business for 29 years. It has a staff of 13
employees which makes it a medium sized company. There were no legal filings found against the company or its legal
representatives. Although the company gave a correct profitability for the year 2010,
it decreased on a 5% compared to the revenue showed for the year 2008. |
SUMMARY
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Profitability |
CORRECT |
Public Records |
NO |
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Indebtedness |
CONTROLLED |
Payments |
REGULAR |
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Cash |
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APPENDIX
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Person Interviewed |
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Parikh |
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Position |
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Receptionist |
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Comments |
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She provide us with most of the information about the company; However
she refused to confirm or provide us with any financial information due to
confidentiality reasons. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.67 |
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1 |
Rs.71.63 |
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Euro |
1 |
Rs.63.09 |
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 Company |
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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.