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Report Date : |
07.08.2012 |
IDENTIFICATION DETAILS
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Name : |
DIA-GLOBE (SINGAPORE) PTE LTD |
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Registered Office : |
10 Anson Road #16-11 International Plaza Singapore 079903 |
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Country : |
Singapore |
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Date of Incorporation : |
21.10.1994 |
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Com. Reg. No.: |
199407670H |
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Legal Form : |
Limited Exempt Private Company |
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Line of Business : |
Retail Sale Of Jewellery Wholesale Of Jewellery |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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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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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Singapore |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
|
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: |
Dia-Globe (Singapore) Pte Ltd |
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Supplied Name: |
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Supplied
Address: |
No 10 Anson Road #16-11 International Plaza Singapore 079903 |
Notes: Subject’s exact name is as above.
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Credit Opinion: |
Since we did not find subject, In view of the absence of information
about subject’s operation, caution should be exercised. |
We did not find any operation or contact information of subject from public files according to the supplied name. We found a company with the name Diasqua S'pore Pte.Ltd. based on the supplied address No 10 Anson Road #16-11 International Plaza Singapore 079903 and tried to contact it through the number +65-6224-6256 for several times, but no one answered the phone.
No other valid relevant contact number of subject was found.
Since we did not find subject, we can not confirm subject’s operation details, thus we supplied the principal activities registered in local registry as follows for reference.
47731--Retail Sale Of Jewellery
46421--Wholesale Of Jewellery
Up to the date of reporting, we failed to get in touch with subject, if you kindly supply contact information, we’d like to continue the investigation.
We found the registration information of subject from local registry, supplying as follows for reference.
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Registered Name: |
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Registered
Address: |
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Date of
Registration:: |
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Registered
Number: |
199407670H |
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Country of
Incorporation: |
Singapore |
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Registered
Capital: |
SGD 500,000 (USD
397,000) (As of 2012.08,
1 SGD = 0.794 USD) |
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Paid-up Capital: |
SGD 500,000 (USD
397,000) = 500,000 Shares@1 SGD |
|
Legal Form: |
Limited Exempt
Private Company |
|
Principal
Activities: |
47731--Retail
Sale Of Jewellery 46421--Wholesale
Of Jewellery |
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N/A |
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Status: |
Live Company |
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Listed at Stock
Exchange: |
No |
|
Date of Last
Annual Return: |
|
Notes: Since we did not find subject, the staff
number is not available.
Subject was incorporated on
|
Subscription
Amount |
Proportion of
Investment (%) |
|
|
Mehta Vimesh Piyush |
500,000 |
100% |
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Total |
500,000 |
100% |
Major Shareholder
Information:
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Name: |
Mehta Vimesh Piyush |
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ID Number: |
S6884838E |
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Address: |
3 Tanjong Rhu Road #12-01 Waterside, The
Singapore 436881 |
We can not confirm whether subject has any subsidiaries or branches.
Detailed
Information of Management:
|
1 |
|
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Name: |
Mehta Vimesh Piyush |
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Position: |
Director |
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ID Number: |
S6884838E |
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Address: |
3 Tanjong Rhu Road #12-01 Waterside, The
Singapore 436881 |
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Nationality: |
Singapore Citizen |
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Date of Appointment: |
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2 |
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Name: |
Mehta Avisha Vimesh |
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Position: |
Director |
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ID Number: |
S |
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Address: |
3 Tanjong Rhu Road Waterside, The Singapore
436881 |
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Nationality: |
Singapore Citizen |
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Date of Appointment: |
|
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3 |
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Name: |
Swaran Singh |
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Position: |
Secretary |
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ID Number: |
S1157721J |
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Address: |
402 Sin Ming Avenue #15-319 Singapore 570402 |
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Nationality: |
Singapore Citizen |
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Date of Appointment: |
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Offices
& Factories
We can not confirm subject’s current trading
address
Operation
Information
Since we did not find subject, we can not confirm subject’s operation details, thus we supplied the principal activities registered in local registry as follows for reference.
47731--Retail Sale Of Jewellery
46421--Wholesale Of Jewellery
The settlement informaiton is not available from subject or other sources.
In Singapore,
Limited Exempt Private Companies are not obligated to submit their financial
statements to the local registry. We did not find any financials of subject
from the local registry, from other source we can not obtain any relevant
information, either.
The bank details are not available from subject or other sources.
|
Name: |
MGI MENON &
ASSOCIATES |
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.
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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.
-
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.55.47 |
|
UK Pound |
1 |
Rs.86.60 |
|
Euro |
1 |
Rs.68.66 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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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 |
|
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 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.