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Report Date : |
06.08.2012 |
IDENTIFICATION DETAILS
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Name : |
D.S.M. DIAMONDS PTE. LTD. |
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Formerly Known As : |
D.M.S. Diamonds Pte. Ltd. |
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Registered Office : |
95 Marine Parade Road, #07-02, Marine Point Singapore 449271 |
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Country : |
Singapore |
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Date of Incorporation : |
16.03.2006 |
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Com. Reg. No.: |
200603731Z |
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Legal Form : |
Legal Form : |
Limited Exempt Private Company |
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Line of Business : |
Import & export in gold & silver jewellery,
diamonds & watches |
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No. of Employees : |
Not Available |
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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 : |
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 – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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Singapore |
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 |
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Company Name: |
D.S.M. Diamonds
Pte. Ltd. |
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Supplied Name: |
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Supplied
Address: |
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Fax Number: |
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Important Note:
The Address 95
Marine Parade Road, #07-02, Marine Point Singapore 449271 is the former address
and the registered address of subject.
And current
trading address of subject is 14, Amber Gardens, 16-04 Amber Park,
Singapore-439960 as same as your supplied.
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Credit Opinion: |
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Registered
Name: |
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Registered
Address: |
95 Marine Parade Road, #07-02, Marine Point Singapore 449271 |
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Date
of Registration:: |
2006-3-16 |
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Registered
Number: |
200603731Z |
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Country
of Incorporation: |
Singapore |
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Registered
Capital: |
SGD 200,000.00
(USD 159,160.00) (As
of 2012.07, 1 SGD = 0.7958 USD) |
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Paid-up
Capital: |
SGD
200,000.00 (USD 159,160.00) = 200,000 Shares@1 SGD |
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Legal
Form: |
Limited
Exempt Private Company |
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Principal
Activities: |
46900 Import
& export in gold & silver jewellery, diamonds & watches |
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N/A |
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Status: |
Live Company |
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Listed at Stock
Exchange: |
No |
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Date of Last
Annual Return: |
2012-3-23 |
Note:
Subject declined to disclose its number of staff; from other source we cannot obtain the relevant information, either.
Subject was
incorporated on 2006-3-16 with registered number 200603731Z as Limited
Exempt Private Company in Singapore.
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Date
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Change
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2006-3-24 |
D.S.M. Diamonds Pte. Ltd. |
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2006-3-16 |
D.M.S. Diamonds Pte. Ltd. |
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Subscription Amount |
Proportion of Investment (%) |
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Manoj
Kanji Mehta |
200,000 |
100% |
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Total |
200,000 |
100% |
Major Shareholder
Information:
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Name: |
Manoj
Kanji Mehta |
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ID Number: |
S2721108I |
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Address: |
95 Marine Parade
Road, #07-02, Marine Point, Singapore 449271 |
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Nationality: |
Singapore P.R. |
Related Company
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1 |
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Name: |
Araska
Diamond |
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Registered
Address: |
101.
Mehtamahal.15, Mathew Road, Mumbai-400004 |
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Telephone
Number: |
+91-22-2369-0373 |
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Fax
Number: |
+91-22-2362-2406 |
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2 |
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Name: |
Kalpataru
B.V.B.A. / Dia-Veer B.V.B.A. |
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Address: |
30,
Hoveniersstraat, R.No.416, Bus 229, 2018 Antwerpen, Belgium |
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Telephone
Number: |
+32-3-226-0750 |
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Fax
Number: |
+32-3-226-3815 |
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3 |
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Name: |
Kalpataru
(HK) Limited |
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Address: |
Wing
Lock House, Flat C, 5/ F, 1/A, Lock Road, Kowloon, T.S.T., Hong Kong |
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Telephone
Number: |
+852-2723-8114 |
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Fax
Number: |
+852-2723-8115 |
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4 |
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Name: |
DSM
Jewellers L.L.C. |
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Address: |
Al Dhagaya
Building, Shop No.5, P.O. Box 57845, Deira, Dubai, U.A.E. |
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Telephone
Number: |
+97-1-4226-6911 |
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Fax
Number: |
+97-1-4226-2101 |
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5 |
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Name: |
DSM
(Pacific) Pty. Ltd. |
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Address: |
The Trust
Bldg., Suite 909-910, Level 09, 155 King St, Sydney Nsw 2000, Australia |
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Telephone
Number: |
+61-2-9232-1410 |
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Fax
Number: |
+61-2-9232-1412 |
Detailed Information
of Management:
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1 |
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Name: |
Manoj Kanji
Mehta |
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Position: |
Director |
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ID Number: |
S2721108I |
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Address: |
95 Marine Parade
Road, #07-02, Marine Point, Singapore 449271 |
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Nationality: |
Singapore P.R. |
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Date of
Appointment: |
2006-3-16 |
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2 |
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Name: |
Padma Manoj
Mehta |
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Position: |
Director |
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ID Number: |
S7160648A |
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Address: |
95 Marine Parade
Road, #07-02, Marine Point, Singapore 449271 |
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Nationality: |
Singapore P.R. |
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Date of
Appointment: |
2007-12-1 |
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3 |
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Name: |
Padma Manoj
Mehta |
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Position: |
Secretary |
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ID Number: |
S7160648A |
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Address: |
95 Marine Parade
Road, #07-02, Marine Point, Singapore 449271 |
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Nationality: |
Singapore P.R. |
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Date of
Appointment: |
2006-5-31 |
Offices
& Factories
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Office |
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Address: |
Production
Information
l
Subject is a trader of diamond and jewellery
without any production activities.
Purchase
Information
l
It is introduced that subject purchases products
from Australia.
Sales
Information
l
Subject is engaged in sales of diamond and
jewellery, etc.
l
It is introduced that subject provides
international certifications as per customer demand from reputed laboratories
like GIA, EGL and HRD, etc.
l
Subject’s sales regions include Singapore and its
neighboring countries.
l
Subject provides diamonds in sizes ranging from
10pts to 3carats.
l
Subject sales various shapes of diamonds, as
follows for reference:
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Shape |
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1 |
Round |
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2 |
Princess |
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3 |
Emerald |
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4 |
Asscher |
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5 |
Marquise |
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6 |
Oval |
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7 |
Radiant |
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8 |
Pear |
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9 |
Heart |
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10 |
Cushion |
Purchase
Subject has little
purchase in domestic market.
Overseas Markets
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Products |
Payment Terms |
Proportion |
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Diamond and
jewellery |
CBD, Interior
Settlement, etc |
100% |
Domestic Markets
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Sales Terms |
Proportion |
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Diamond and
jewellery |
COD, CBD, etc |
100% |
Overseas Markets
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Product |
Sales Terms |
Proportion |
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Diamond and
jewellery |
CBD, etc |
100% |
In Singapore,
Limited Exempt Private Companies are not obligated to submit their financial
statements to the local registry. We did not find the financials of subject from
the local registry, the subject also declined to disclose such information due
to the confidentiality reason.
Subject declined to disclose its bank details; from other source we cannot obtain the relevant information, either.
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Name: |
Raffles Pac |
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Name: |
Mr. Manoj |
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.56.08 |
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UK Pound |
1 |
Rs.87.03 |
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Euro |
1 |
Rs.68.36 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.