MIRA INFORM REPORT
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Report Date : |
15.10.2011 |
IDENTIFICATION DETAILS
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Name : |
DIAMPLUS |
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Registered Office : |
550 S Hill St, Ste 905, Los Angeles, CA 90013-2410 |
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Country : |
United States |
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Date of Incorporation : |
Not Available |
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Legal Form : |
Private Independent Company |
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Line of Business : |
wholesale distribution of jewelry, precious stones and metals, costume jewelry,
watches, clocks, silverware, and jewelers' findings. |
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 : |
Moderate |
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Payment
Behaviour : |
Unknown |
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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 – September 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 |
Company name & address
Diamplus
550 S Hill St
Ste 905
Los Angeles, CA 90013-2410
United States
Tel: 213-623-2645
Synthesis
Employees: 1
Company Type: Private Independent
Financials in: USD
(Millions)
Reporting Currency: US
Dollar
Annual Sales: 1.0
Total Assets: NA
Business Description
Establishments primarily
engaged in the wholesale distribution of jewelry, precious stones and metals,
costume jewelry, watches, clocks, silverware, and jewelers' findings.
Industry
Industry Jewelry and Silverware
ANZSIC 2006: 3732 - Jewellery
and Watch Wholesaling
NACE 2002: 5147 - Wholesale
of other household goods
NAICS 2002: 423940 - Jewelry,
Watch, Precious Stone, and Precious Metal Merchant Wholesalers
UK SIC 2003: 51473 - Wholesale
of jewellery
US SIC 1987: 5094 - Jewelry,
Watches, Precious Stones, and Precious Metals
Key Executives
Name Title
Vishnu Jalan Owner
1 - Profit & Loss Item Exchange Rate: USD 1 = USD 1
2 - Balance Sheet Item Exchange Rate: USD 1 = USD 1
Corporate Overview
Location
550 S Hill St
Ste 905
Los Angeles, CA, 90013-2410
Los Angeles County
United States
Tel: 213-623-2645
Sales USD(mil): 1.0
Assets USD(mil): NA
Employees: 1
Industry: Jewelry
and Silverware
Company Type: Private
Independent
Quoted Status: Not
Quoted
Owner: Vishnu
Jalan
Contents
· Industry Codes
· Business Description
· Financial Data
· Additional Information
Industry Codes
ANZSIC 2006 Codes:
3732 - Jewellery and Watch Wholesaling
NACE 2002 Codes:
5147 - Wholesale of other household goods
NAICS 2002 Codes:
423940 - Jewelry, Watch, Precious Stone, and Precious Metal Merchant
Wholesalers
US SIC 1987:
5094 - Jewelry, Watches, Precious Stones, and Precious Metals
UK SIC 2003:
51473 - Wholesale of jewellery
Business
Description
Establishments
primarily engaged in the wholesale distribution of jewelry, precious stones and
metals, costume jewelry, watches, clocks, silverware, and jewelers' findings.
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Credit Report as of 12/01/201
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Location |
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550 S Hill St Ste: 905 |
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County: |
Los Angeles |
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MSA: |
LA-Long Bch, CA |
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Phone: |
213-623-2645 |
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KeyIDSM: |
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Annual Sales: |
$1,002,000 (USD) |
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Employees: |
1 |
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Facility Size(ft2): |
2,500 - 9,999 |
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Business Type: |
Private |
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Location Type: |
Single Location |
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Primary Line Of
Business: |
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SIC: |
5094-06 - Jewelers-Wholesale |
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NAICS: |
423940 - Jewelry Merchant Whols |
Table of Contents
Profile Links
· Similar Businesses in the Area
· Closest Neighbors
External Links
· Similar Businesses in the Area *
A & Z Pearls
Inc
550 S Hill St Ste: 660
Los Angeles, CA 90013-2418
Benjamin & Co
550 S Hill St Ste: 875
Los Angeles, CA 90013-2428
Allied Creations
550 S Hill St Ste: 928
Los Angeles, CA 90013-2429
Apple Jewelry
Manufacturing
550 S Hill St Ste: 1350
Los Angeles, CA 90013-2414
Alex A & Co
550 S Hill St Ste: 567
Los Angeles, CA 90013-2400
Alan G Jewelers
550 S Hill St Ste: 775
Los Angeles, CA 90013-2425
Alsol Gems Inc
550 S Hill St Ste: 1276
Los Angeles, CA 90013-2437
Artesania Mexicana
Consorcio
550 S Hill St
Los Angeles, CA 90013-2401
Aurum Jewelers
550 S Hill St Ste: 1180
Los Angeles, CA 90013-2436
Beautiful Diamond
550 S Hill St Ste: 1160
Los Angeles, CA 90013-2435
* Similar Businesses are defined as the closest businesses
sharing the same six-digit primary SIC code ( 5094-06 - Jewelers-Wholesale) regardless
of size.
Closest Neighbors
A & M Diamond
& Jewelry Inc
550 S Hill St Ste: 1440
Los Angeles, CA 90013-2453
Aakar Diamonds Inc
550 S Hill St Ste: 1548
Los Angeles, CA 90013-2416
Abe Abramhamoff
Diamond Imprtr
550 S Hill St Ste: 1525
Los Angeles, CA 90013-2471
Adler Trading Co
550 S Hill St Ste: 1384
Los Angeles, CA 90013-2293
Abboud Co
550 S Hill St Ste: 764
Los Angeles, CA 90013-2408
A & Z Pearls
Inc
550 S Hill St Ste: 660
Los Angeles, CA 90013-2418
AAA Diamond &
Jewelry Inc
550 S Hill St Ste: 1440
Los Angeles, CA 90013-2453
Executive report
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Executives |
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Owner |
Chief Executive Officer |
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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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.07 |
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UK Pound |
1 |
Rs.77.42 |
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Euro |
1 |
Rs.67.72 |
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.