MIRA
INFORM REPORT
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Report Date : |
18.12.2012 |
IDENTIFICATION DETAILS
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Name : |
G MCKENZIE & CO |
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Registered Office : |
7 Shakespeare Road, London, N3 1xe |
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Country : |
United Kingdom |
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Date of Incorporation : |
01.01.1991 |
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Legal Form : |
Private Company |
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Line of Business : |
Wholesaler of jewellery |
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No. of Employees : |
29 employees |
RATING & COMMENTS
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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 : |
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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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United
Kingdom |
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 |
United Kingdom - ECONOMIC OVERVIEW
The UK, a leading trading power and financial center, is the third largest economy in Europe after Germany and France. Over the past two decades, the government has greatly reduced public ownership and contained the growth of social welfare programs. Agriculture is intensive, highly mechanized, and efficient by European standards, producing about 60% of food needs with less than 2% of the labor force. The UK has large coal, natural gas, and oil resources, but its oil and natural gas reserves are declining and the UK became a net importer of energy in 2005. Services, particularly banking, insurance, and business services, account by far for the largest proportion of GDP while industry continues to decline in importance. After emerging from recession in 1992, Britain's economy enjoyed the longest period of expansion on record during which time growth outpaced most of Western Europe. In 2008, however, the global financial crisis hit the economy particularly hard, due to the importance of its financial sector. Sharply declining home prices, high consumer debt, and the global economic slowdown compounded Britain's economic problems, pushing the economy into recession in the latter half of 2008 and prompting the then BROWN (Labour) government to implement a number of measures to stimulate the economy and stabilize the financial markets; these include nationalizing parts of the banking system, temporarily cutting taxes, suspending public sector borrowing rules, and moving forward public spending on capital projects. Facing burgeoning public deficits and debt levels, in 2010 the CAMERON-led coalition government (between Conservatives and Liberal Democrats) initiated a five-year austerity program, which aims to lower London's budget deficit from over 10% of GDP in 2010 to nearly 1% by 2015. In November 2011, Chancellor of the Exchequer George OSBORNE announced additional austerity measures through 2017 because of slower-than-expected economic growth and the impact of the euro-zone debt crisis. The CAMERON government raised the value added tax from 17.5% to 20% in 2011. It has pledged to reduce the corporation tax rate to 23% by 2015. The Bank of England (BoE) implemented an asset purchase program of up to £325 billion (approximately $525 billion) as of February 2011. During times of economic crisis, the BoE coordinates interest rate moves with the European Central Bank, but Britain remains outside the European Economic and Monetary Union (EMU).
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Source : CIA |
REGISTERED NAME & COMPANY SUMMARY
G MCKENZIE & CO
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Trading Address |
7 SHAKESPEARE ROAD |
Senior Executive |
MISS POONAM AGARWALLA |
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LONDON
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Position |
MANAGING DIRECTOR |
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Date At Address |
01/01/1991 |
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Post Code |
N3 1XE |
Number of Employees |
29 |
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Telephone Number |
020 8343 2828 |
Premises Type |
Warehouses & Wholesalers |
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TPS |
Y |
Business Classification |
JEWELLERY WHOLESALE OF |
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Fax Number |
020 8343 1061 |
SIC03 |
51900 |
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FPS |
Y |
SIC03 Description |
Other wholesale |
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Website Address |
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DIRECTORS/MANAGEMENT
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Senior Executive
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MISS POONAM AGARWALLA |
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Position |
MANAGING DIRECTOR |
Directors last
filed addresses which have been matched to this company’s postcode - 15 Results found
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3rd Floor Shakespeare House 7 Shakespeare Road |
N3 1XE |
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3rd Floor Shakespeare House 7 Shakespeare Road |
N3 1XE |
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3rd Floor Shakespeare House 7 Shakespeare Road |
N3 1XE |
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3rd Floor Shakespear House 7 Shakespeare Road |
N3 1XE |
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3rd Floor Shakespeare House 7 Shakespeare Road |
N3 1XE |
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3rd Floor Shakespeare House 7 Shakespeare Road |
N3 1XE |
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3rd Floor Shakespeare House 7 Shakespeare Road |
N3 1XE |
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3rd Floor Shakespeare House 7 Shakespeare Road |
N3 1XE |
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3rd Floor Shakespeare House 7 Shakespeare Road |
N3 1XE |
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3rd Floor Shakespeare House 7 Shakespeare Road |
N3 1XE |
NEGATIVE INFORMATION
Bankruptcy Information
Exact Name &
Address
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Bankrupt |
No |
Exact Address
Match
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Bankrupt |
No |
Exact Name Match
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Bankrupt |
No |
CCJ Details
Exact CCJ Details
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No CCJ`s Found |
Possible Address
CCJ Details
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No CCJ`s Found |
Possible Name CCJ
Details
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No CCJ`s Found |
Total number &
value of CCJ’s in this SIC03
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SIC03 |
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CCJ`s |
Value |
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5190 |
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2096 |
£12,438,214 |
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Total number of
Negative Events in this SIC03
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SIC03 |
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Bankruptcy |
Administration |
Liquidation |
Wound Up |
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5190 |
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0 |
114 |
984 |
2 |
PAYMENT INFORMATION
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Days Beyond Terms |
Trend Indicator |
Average
Payment Experience |
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||||
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Steady   Improving Worsening |
Be the first to leave a payment experience
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ADDITIONAL INFORMATION
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Number of
Employees |
29 |
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Premises Type |
Warehouses & Wholesalers |
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Business
Classification |
JEWELLERY WHOLESALE OF |
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SIC03 |
51900 |
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SIC03
Description |
Other wholesale |
Other Non Limited
Companies which match this Company Name & Address - 1 Result found
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G MCKENZIE & CO |
7 SHAKESPEARE ROAD LONDON N3 1XE |
N3 1XE |
Other Companies
which match this Company Address - 2 Results found
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7, LONDON, N3 1XE |
N3 1XE |
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7, LONDON, N3 1XE |
N3 1XE |
Other Companies that match this
Telephone Number - 0 Results found
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Company Address |
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Company Name |
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House Name / Number |
Telephone Number |
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Street |
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Locality |
if you would like to search by an
alternative company address or telephone number, please do so |
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City / Town |
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Post Code |
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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.54.63 |
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UK Pound |
1 |
Rs.88.40 |
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Euro |
1 |
Rs.71.86 |
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.