MIRA
INFORM REPORT
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Report Date : |
05.10.2011 |
IDENTIFICATION DETAILS
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Name : |
FINE EURO BVBA |
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Registered Office : |
Quinten Matsijslei 11 Antwerpen 2018 |
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Country : |
Belgium |
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Date of Incorporation : |
13.12.2010 |
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Com. Reg. No.: |
832158941 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Wholesale of diamonds and other precious stones |
RATING & COMMENTS
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MIRAs Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
-- |
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) |
|
Belgium |
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 |
REGISTERED NAME & COMPANY
SUMMARY
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Company Summary |
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Business Name |
FINE EURO BVBA |
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Business Number |
832158941 |
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Address |
QUINTEN MATSIJSLEI 11 ANTWERPEN |
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Post Code |
2018 |
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Telephone |
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Fax Number |
-- |
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Date of Establisment |
13/12/2010 |
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Number of Employees |
0 |
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company details |
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Business Number |
832158941 |
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Name |
FINE EURO BVBA |
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Fax Number |
-- |
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Establishment Date |
13/12/2010 |
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Company Status |
ACTIVE |
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Company Type |
Private limited liability company |
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Activity Description |
Wholesale of diamonds and other precious stones |
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Activity Code |
46761 |
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Liable For Vat |
yes |
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Currency |
Euro () |
DIRECTORS/MANAGEMENT
Directors
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Company Director |
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FullName |
KAMLESHKUMAR VRAJLAL DOSHI |
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Position |
Manager |
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Address |
13 KWIKSTAARTLAAN WILRIJK (ANTW.) |
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Postal Code |
2610 |
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Country |
-- |
NEGATIVE INFORMATION
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Court Data Summary |
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bankruptcy details |
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Court Action Type |
None |
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Protested Bills |
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Bill Amount |
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NSSO Details |
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Date of Summons |
// |
Court Data
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Protested Bills |
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Drawee Name |
-- |
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Drawee Address |
-- |
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Bill Amount |
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Bill Currency |
-- |
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Maturity of Bill (month) |
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Name of Drawer |
-- |
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City of Drawer |
-- |
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NSSO Details |
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Business Number |
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Name of Defendant |
-- |
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Legal Form of Defendant |
-- |
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Date of Summons |
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Labour Court |
-- |
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Bankruptcy Data |
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There is no bankruptcy data against this company. |
SHARE & SHARE CAPITAL
INFORMATION
Shareholders
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No holding companies for this company. |
PAYMENT INFORMATION
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Past Payments |
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Payment Expectation Days |
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Days Sales Outstanding |
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Industry Average Payment Expectation Days |
137 |
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Industry Average Day Sales Outstanding |
124.66 |
Payment Expectations
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Industry Comparison |
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Activity Code |
4676 |
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Activity Description |
Wholesale of other intermediate products |
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Industry Average Day Sales Outstanding |
124.66 |
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Industry Average Payment Expectation Days |
137 |
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Industry Quartile Analysis |
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Payment Expectation Days |
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Payment Expectations - Lower |
41.25 |
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Payment Expectations - Median |
90.32 |
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Payment Expectations - Upper |
162.53 |
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Day Sales Outstanding |
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Day Sales Outstanding - Lower |
31.52 |
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Day Sales Outstanding - Median |
75.21 |
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Day Sales Outstanding - Upper |
158.58 |
GROUP STRUCTURE & AFFILIATED
COMPANIES
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No subsidaries for this company. |
FINANCIAL INFORMATION
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Date of Deposit at Registry |
// |
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Date of Last Accounts |
// |
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Turnover |
- |
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Results of Ordinary Operations Before Tax |
- |
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Networth |
- |
FOREIGN EXCHANGE RATES
Na
ADDITIONAL INFORMATION
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Latest Branch Details |
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Street |
-- |
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House Number |
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City |
-- |
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Postal Code |
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Trade Registered Number |
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Trade Registered Entry Date |
// |
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Contractor Details |
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Registration Number |
-- |
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Contractor Description |
-- |
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Striking Off Date |
// |
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Latest Event |
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Serial Number |
36476 |
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Event Description |
Change of operating address |
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Accounts & Ratio
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No accounts filed for this company. |
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Industry Comparison |
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Activity Code |
46761 |
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Activity Description |
Wholesale of diamonds and other precious stones |
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Industry Average Credit Rating |
64.48 |
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Industry Average Credit Limit () |
140,177 |
NOTES & COMMENTS
Na
DIAMOND INDUSTRY
INDIA
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From time
immemorial, India is well known in the world as the birthplace for
diamonds. It is difficult to trace the origin of diamonds but history
says that in the remote past, diamonds were mined only in India. Diamond
production in India can be traced back to almost 8th Century B.C.
India, in fact, remained undisputed leader till 18th Century
when Brazilian fields were discovered in 1725 followed by emergence of S.
Africa, Russia and Australia.
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The
achievement of the Indian diamond industry was possible only due to combination
of the manufacturing skills of the Indian workforce and the untiring and
unflagging efforts of the Indian diamantaires, supported by progressive
Government policies.
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The area
of study of family owned diamond businesses derives its importance from the
huge conglomerate of family run organizations which operate in the diamond
industry since many generations.
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Some of
the basic traits of family run business enterprises include spirit of
entrepreneurship, mutual trust lowers transaction costs, small, nimble and
quick to react, information as a source of advantage and philanthropy.
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Family
owned diamond businesses need to improve on many fronts including higher
standard of corporate governance, long-term performance focused strategies,
modern management and technology.
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The
diamond jewellery industry in India today may be more than Rs 60000 mil and is
rated amongst the fastest growing in the world. Indi ranks third in the
world in domestic diamond consumption.
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Utmost
caution is to be exercised while dealing with some medium and large diamond
traders which are usually engaged in fictitious import export, inter-company
transactions, financially assisted by banks. In the process, several public
sector banks lost several hundred million rupees. They mostly diverted borrowed
money for diamond business into real estate and capital markets.
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Excerpts
from Times of India dated 30th October 2010 is as under
DIAMOND SAGA DIRTY DOZEN STUCK
WITH 2K CR DEBT
This could be the biggest credibility crisis the Indian diamond industry has ever faced. Fifteen banks run the risk of losing Rs 2000 crore lent to a dozen diamond firms in Surat. Until about two months ago, they had not repaid these dues. Bankers believe many diamantaires borrowed money during the economic downturn two years ago and diverted funds to businesses like real estate and capital markets. Many of themselves made money from these businesses but their diamond companies have gone sick and declared insolvency.
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Most of
the money borrowed from the banks in the name of their diamond business has
been diverted in real estate and the share market. The banks are not in a
position to seize their properties because in many cases, these were purchased
in the name of their relatives and friends.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.22 |
|
|
1 |
Rs.76.07 |
|
Euro |
1 |
Rs.65.06 |
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 |
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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 |
-- |
This score serves as a reference to assess SCs 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.