MIRA INFORM REPORT
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Report Date : |
17.10.2011 |
IDENTIFICATION DETAILS
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Name : |
BELFONT SA |
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Registered Office : |
Rue de Candolle 6, 1205 Genève |
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Country : |
Switzerland |
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Date of Incorporation : |
23.03.1954 |
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Com. Reg. No.: |
660.0.033.954-3 / 16979 |
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Legal Form : |
Company limited by shares |
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Line of Business : |
sales of pearls and diamonds from all over the world |
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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Maximum Credit Limit : |
CHF 70'000 |
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Status : |
Satisfactory |
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Payment
Behaviour : |
No Complaints |
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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
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Switzerland |
a2 |
a2 |
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Risk Category |
ECGC
Classification |
|
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
Belfont SA
Operating address
Rue de Candolle 6
1205 Genève
Switzerland/CH
Telephone: 022
3295011
Fax: 022
3293820
Web
site: http://www.belfont.com
E-mail: info@belfont.com
VAT-No.: CHE105855191
Profile
Established: 1954
History: 1954: Established from Leopold Popper
Line
of Business: Consumer goods
wholesale
Industry
Division: Wholesale trade
Industry-code (NACE): 4648 Wholesale of watches and jewellery
Import/Export: Import, Export
Banks: unknown
Operational Figures
Coverage: Company
Figures: estimated
Employees: 12
Sales: CHF 8-10 Mio
Activity
The business activities includes sales of pearls and diamonds from all over the world.
Real Estate
Information on property ownership was not available.
Company Register
Company
No: 660.0.033.954-3 / 16979
Legal
form: Company limited
by shares
Registration: 23.03.1954
Legal
status: active
Responsible
Register: Registre du commerce du
canton de Genève
Auditor: Experaudit SA, Genève
History: Date of Statutes:
22.05.1990
Entry Deleted Name
active Belfont
SA
Entry Deleted Legal domicile
active Genève,
Switzerland
Entry Deleted Address
active rue
de Candolle 6, 1200 Genève/GE, Switzerland/CH
Entry Deleted Capital
active Share
Capital CHF 1'000'000, paidup CHF 1'000'000
Entry Deleted Capital Structure
active 500
Preferred registered shares of CHF 1'100.--
active 500
Preferred registered shares of CHF 900.--
Entry Deleted Activity (original Language)
active Traiter,
en Suisse et à l'étranger, comme mandataire de maisons étrangères à la Suisse, toutes
affaires d'exportation de marchandises, d'articles manufacturés ou non et de
produits de toutes natures, notamment dans le domaine de l'horlogerie et de la
bijouterie, et la surveillance des dites exportations; importer et exporter
toutes matières premières, tous produits et articles manufacturés ou non,
notamment des perles de culture, des diamants et des pierres précieuses. La
société peut faire toutes opérations financières, commerciales, mobilières ou
immobilières se rattachant directement ou indirectement à son but et
s'intéresser sous toutes formes à toutes entreprises similaires.
Entry Deleted Remarks (original Language)
active Publishing
authority: FOSC.
active Board
of directors: 1 ou plusieurs membres.
09.11.1999 Merger:
Reprise de l'actif et du passif, au sens de l'article 748 CO, de la société
"Belfont International SA", à Genève, selon contrat du 14-10-1999 et
bilan au 31-12-1998, comportant un actif de CHF 6'622'940,65 et un passif
envers les tiers de CHF 4'015'574,34, soit un actif net de CHF 2'607'366,31. La
fusion a lieu sans augmentation du capital-actions attendu que la société est
déjà propriétaire de toutes les actions de la société absorbée.
Official Administration
Title Name
President Stephan Popper,
Origin: Genève, Switzerland, Address: Choulex, Switzerland, single signature
Company
Secretary Dani
Yarisal, Origin: Chêne-Bougeries, Switzerland, Address: Cologny, Switzerland,
single signature
Executive board
Title Name
Chief
Executive Officer Stephan
Popper
Owner/-s
No.
of Owner/-s: 2
Owner: The company is
privately owned.
Class: unknown
Name: Dani Yarisal
City/Country: Cologny, Switzerland/CH
Class: unknown
Name: Stephan Popper
City/Country: Choulex, Switzerland/CH
Investments
It is believed that the company has no investments.
Legal Actions
Control date Year No. Amount CHF Status
15.07.2008 2008 0
15.07.2008 2007 0
15.07.2008 2006 0
An updated legal action check is only
available against proof of interest. e.g. a copy of an enquiry letter, and
order or invoice relating to the subject company.
Credit Information
Financial
Statements: The company does not
disclose any financial statements. Third parties are not permitted any insight
into the financial affairs. It is therefore difficult to make a proper
assessment of the actual situation.
Financial
Situation: The financial situation
is considered to be in order.
Payment
experiences: There are no objections
regarding the payment of financial obligations.
Maximum
Credit: CHF 70'000
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.49.07 |
|
UK Pound |
1 |
Rs.77.42 |
|
Euro |
1 |
Rs.67.72 |
RATING EXPLANATIONS
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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 |
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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.