|
Report Date : |
13.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
R.T. DIAMOND TRADING CO PTE. LTD. |
|
|
|
|
Registered Office : |
9 Holland Hill #08-03 |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
09.09.2011 |
|
|
|
|
Com. Reg. No.: |
201127846K |
|
|
|
|
Legal Form : |
Limited Exempt Private Company |
|
|
|
|
Line of Business : |
Trading in Diamonds and Gemstones |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRAs Rating : |
NB |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
-- |
NB |
New Business |
-- |
|
Status : |
New Company |
|
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, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Singapore |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
|
Company Name: |
R.T. Diamond
Trading Co Pte. Ltd. |
|
Supplied Name: |
|
|
Supplied
Address: |
|
Notes:
The exact
subjects name and address are as above mentioned.
|
Registered Name: |
|
|
Registered
Address: |
|
|
Date of
Registration:: |
2011-9-9 |
|
Registered
Number: |
201127846K |
|
Country of
Incorporation: |
Singapore |
|
Registered
Capital: |
SGD 300,000.00
(USD 234,090) (As of 2012.04,
1 SGD = 0.7803 USD) |
|
Paid-up Capital: |
SGD 300,000.00
(USD 234,090) = 300,000 Shares@1 SGD |
|
Legal Form: |
Limited Exempt
Private Company |
|
Principal
Activities: |
46900 Trading in
Diamonds and Gemstones |
|
N/A |
|
|
Status: |
Live Company |
|
Listed at Stock
Exchange: |
No |
Subject declined
to introduce its staff number.
Subject was incorporated on 2011-9-9 with registered number 201127846K as
Private Limited Liability Company in Singapore.
|
Subscription Shares |
Proportion of Investment (%) |
|
|
Shah Tejas
Mahesh |
150,000 |
50% |
|
Rachna Tejas
Shah |
150,000 |
50% |
|
Total |
300,000 |
100% |
Major Shareholder
Information:
|
1 |
|
|
Name: |
Shah Tejas
Mahesh |
|
ID Number: |
S |
|
Address: |
9 Holland Hill
#08-03 Singapore 278738 |
|
Nationality: |
Singapore P.R. |
|
2 |
|
|
Name: |
Rachna Tejas
Shah |
|
ID Number: |
S |
|
Address: |
9 Holland Hill
#08-03 Singapore 278738 |
|
Nationality: |
Singapore P.R. |
Detailed
Information of Management:
|
Name: |
Shah Tejas
Mahesh |
|
Position: |
Director |
|
ID Number: |
S |
|
Address: |
9 Holland Hill
#08-03 Singapore 278738 |
|
Nationality: |
Singapore P.R. |
|
Date of
Appointment: |
2011-9-9 |
Offices
& Factories
|
|
Office |
|
Address: |
Purchase
l
Subject purchases jewelry, etc.
l
Subject imports from India, etc.
Sales
Information
l
Subject is mainly engaged in sales of jewelry, etc.
l
Subject sells demand jewelry, gold jewelry, Clocks,
etc.
l
Subject also processes the jewelry.
l
The relevant staff introduced that they only sells
in the domestic markets.
Purchase
Domestic Markets
Note: Subject seldom purchases from domestic
markets.
Overseas Markets
|
Products |
Payment Terms |
Proportion |
|
Jewelry, etc. |
CBD, etc. |
100% |
Domestic Markets
|
Sales Terms |
Proportion |
|
|
Jewelry, etc. |
CBD, etc. |
100% |
Overseas Markets
Note: Subject seldom exports.
In Singapore, Limited Exempt Private Companies are not obligated to
submit their financial statements to the local registry, and the only source
from which we can obtain the information is the subject itself.
The subject also declined to disclose such information due to the
confidentiality reason. Financial information is not available.
Notes:
The woman who
answered the telephone declined to introduce her name.
DIAMOND INDUSTRY
INDIA
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.51.44 |
|
|
1 |
Rs.81.96 |
|
Euro |
1 |
Rs.67.60 |
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 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.