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Report Date : |
08.12.2012 |
IDENTIFICATION DETAILS
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Name : |
GEMCO JEWELS GMBH |
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Registered Office : |
Grunewaldstr. 7, D
12165 |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
07.04.2010 |
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Com. Reg. No.: |
HRB 126895 B |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturer of jewelry and related articles (except imitation jewelry) |
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No. of Employees : |
01 employee |
RATING & COMMENTS
|
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 : |
Small Company |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Germany |
A1 |
A1 |
|
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 |
|
Off-credit |
D |
germany - ECONOMIC OVERVIEW
The German economy - the fifth largest economy in the world in PPP terms and Europe's largest - is a leading exporter of machinery, vehicles, chemicals, and household equipment and benefits from a highly skilled labor force. Like its Western European neighbors, Germany faces significant demographic challenges to sustained long-term growth. Low fertility rates and declining net immigration are increasing pressure on the country's social welfare system and necessitate structural reforms. Reforms launched by the government of Chancellor Gerhard SCHROEDER (1998-2005), deemed necessary to address chronically high unemployment and low average growth, contributed to strong growth in 2006 and 2007 and falling unemployment. These advances, as well as a government subsidized, reduced working hour scheme, help explain the relatively modest increase in unemployment during the 2008-09 recession - the deepest since World War II - and its decrease to 6.0% in 2011. GDP contracted 5.1% in 2009 but grew by 3.6% in 2010, and 2.7% in 2011. The recovery was attributable primarily to rebounding manufacturing orders and exports - increasingly outside the Euro Zone. Germany's central bank projects that GDP will grow 0.6% in 2012, a reflection of the worsening euro-zone financial crisis and the financial burden it places on Germany as well as falling demand for German exports. Domestic demand is therefore becoming a more significant driver of Germany's economic expansion. Stimulus and stabilization efforts initiated in 2008 and 2009 and tax cuts introduced in Chancellor Angela MERKEL's second term increased Germany's budget deficit to 3.3% in 2010, but slower spending and higher tax revenues reduce the deficit to 1.7% in 2011, below the EU's 3% limit. A constitutional amendment approved in 2009 limits the federal government to structural deficits of no more than 0.35% of GDP per annum as of 2016. Following the March 2011 Fukushima nuclear disaster, Chancellor Angela Merkel announced in May 2011 that eight of the country's 17 nuclear reactors would be shut down immediately and the remaining plants would close by 2022. Germany hopes to replace nuclear power with renewable energy. Before the shutdown of the eight reactors, Germany relied on nuclear power for 23% of its energy and 46% of its base-load electrical production.
|
Source : CIA |
Gemco Jewels GmbH
Grunewaldstr. 7
D 12165 Berlin
Telephone: 030/30641969
Telefax: 030/30642809
Homepage: www.gemcojewels.com
E-mail: germany@gemcojewels.com
Company Status: active
DE271849113
LEGAL FORM Private limited company
Date of foundation: 07.04.2010
Shareholders'
agreement: 07.04.2010
Registered on: 25.05.2010
Commercial Register: Local court 14057 Berlin
under: HRB 126895 B
Share capital: EUR 25,000.00
Apul Kala
Calle de Sangenjo 25
E - Madrid
born: 02.07.1983
Share: EUR 25,000.00
Apul Kala
Calle de Sangenjo 25
E - Madrid
having sole power of representation
born: 02.07.1983
Nationality: Spanish
Sectors
3212 Manufacture of jewelry and related articles (except imitation jewelry)
4648 Wholesale of clocks and watches and jewelry
4777 Retail sale of clocks, watches and jewelry
Payment experience: within periods customary in this trade
Negative information: We have no negative information at hand.
Balance sheet year: 2010
Type of ownership: Tenant
Address Grunewaldstr. 7
D 12165 Berlin
Land register documents were not available.
UNICREDIT BANK - HYPOVEREINSBANK, BERLIN
Sort. code: 10020890, BIC: HYVEDEMM488
Turnover: 2010 EUR 120,000.00
2011 EUR 135,000.00
further business
figures:
Equipment: EUR 9,000.00
Ac/ts
receivable:
EUR 48,486.00
Liabilities: EUR 35,390.00
Employees:
1
The aforementioned business figures may partly be estimated information based on average values in the line of business.
Balance sheet ratios 07.04.2010 - 31.12.2010
Equity ratio [%]: 44.63
Liquidity ratio: 3.65
Return on total capital [%]: -7.20
Equity ratio
The equity ratio indicates the portion of the equity as compared to the total capital. The higher the equity ratio, the better the economic stability (solvency) and thus the financial autonomy of a company.
Liquidity ratio
The liquidity ratio shows the proportion between adjusted receivables and net liabilities. The higher the ratio, the lower the company's financial dependancy from external creditors.
Return on total
capital
The return on total capital shows the efficiency and return on the total capital employed in the company. The higher the return on total capital, the more economically does the company work with the invested capital.
Type of balance
sheet: Company
balance sheet
Financial year:
07.04.2010 - 31.12.2010
ASSETS EUR 63,561.09
Fixed assets EUR 961.00
Intangible assets EUR 230.00
Other / unspecified
intangible assetsEUR
230.00
Tangible assets EUR 731.00
Other / unspecified
tangible assets EUR 731.00
Current assets EUR 62,600.09
Accounts receivable EUR 48,486.19
Other debtors and
assets EUR 48,486.19
Liquid means EUR 14,113.90
LIABILITIES EUR
63,561.09
Shareholders' equity EUR 20,431.07
Capital EUR 25,000.00
Subscribed capital
(share capital) EUR 25,000.00
Balance sheet
profit/loss (+/-) EUR -4,568.93
Annual surplus / annual
deficit EUR -4,568.93
Provisions EUR 7,740.24
Liabilities EUR 35,389.78
Other liabilities EUR 35,389.78
Unspecified other
liabilities EUR 35,389.78
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.54.20 |
|
UK Pound |
1 |
Rs.86.99 |
|
Euro |
1 |
Rs.70.22 |
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 |
|
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 |
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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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
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.