MIRA INFORM REPORT

 

 

Report Date :           

23.02.2012

 

IDENTIFICATION DETAILS

 

Name :

CARMEN JEWELLERY DESIGN TOO

 

 

Registered Office :

Syunbaya Street 66/2, Zhetysuskiy District , Almaty 050050

 

 

Country :

Kazakhstan

 

 

Date of Incorporation :

02.07.2007

 

 

Com. Reg. No.:

30436 (issue date: 24/12/2009)

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Manufacturers of jewellery

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

Kazakhstan

b1

b1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company NAME

 

CARMEN Jewellery Design TOO (Correct)

Carmen Jewellery Design (Requested)

 

 

Company ADDRESS

 

Street               : Syunbaya Street 66/2

Area                 : Zhetysuskiy District

Town                 : Almaty 050050

Country             : Kazakhstan

 

English Translation :       CARMEN jewellery design LLP

 

Also known as :             CARMEN jewellery design ZhShS

 

 

SENIOR COMPANY PERSONNEL

 

Name                               Position

Paz Miri                           Managing Director  

 

 

PAYMENTS

 

Current trade experience of payments has not been traced.

 

Our sources could not contact the subject and obtain a direct interview. No other telephone or fax numbers are listed for the subject at the local telephone directory.

 

Information in this report was obtained from the third party sources only.

 

Opinion on maximum credit : In view of the above we have insufficient

                            basis on which to speak for unsecured

                            credit and recommend dealing on fully

                            secured terms for all transactions

                            pending fuller knowledge.

 

Trade risk assessment : No classification

 

It is normal accepted practice for international suppliers to deal on secured terms with Kazakhstani importers.

 

 

PRINCIPAL BANKERS

 

NAME               : BANK TSENTR KREDIT AO

Branch              : Bogenbay Batyra Street 248

Town                 : Almaty 050000

Telephone         : (7 727) 263 0493 / 263 4531

Fax                   : (7 727) 250 9496 / 250 7813     

Acc. No.           : KZ188560000000458576 (353467490)

Acc. No.           : KZ888560000000458577 (352070192)

BIK                   : KCJBKZKX (190501719)

Tax No.             : RNN 600700033173 (600300022316)

 

The company also has an account with :

 

Alyans Bank AO

Zhibek Zholy Street 50

Almaty 050044

Telephone: (7 727) 258 4040

Fax      : (7 727) 258 4040

 

Acc. No. : KZ349650000040285241 (040285241)

Acc. No. : KZ249650000040298225 (040298225) (038369782)

Acc. No. : (038369782)

Acc. No. : (038446061)

Acc. No. : (030173504)

Acc. No. : (030173106)

BIK      : IRTYKZKA (190501794)

Tax No.  : RNN 451800015025 (600400083256)

 

 

FINANCIAL INFORMATION

 

Balance sheets are not available. Financial information could not be obtained from other sources.

 

 

LEGAL STATUS AND HISTORY

 

Date Started :    2 July 2007

 

C.R. No. :          30436 (issue date: 24/12/2009)

 

Former C.R. No.: 86661-1910-ТОО (IU) (issued on: 02/07/2007)

 

Tax No.:            RNN 600500566427


Business Identification No.: BIN 070740011706

 

Statistics No.:               OKPO 41119991

 

VAT No.:                       Series 60001, No. 0030358 (issued on 25/12/2009)

 

Authorised Capital :        TENGE 109,200

 

Paid-Up Capital :            TENGE 109,200

 

Tovarishchestvo s Ogranichennoy Otvetstvennostyu (limited liability company) with the following sole shareholder

 

Paz Miri                                                                                                    100%

(Israelo national / Tax No. RNN 600920343000 / Personal No.:

 11240401, issued on 8 August 2006)

 

 

ACTIVITIES

 

The Company is involved in the following activities :

 

Registered activity: Manufacturers of jewellery.

 

NACE Code: 3212

 

 

FACILITIES

 

The Company has the following facilities :

 

Registered offices located at the heading address.

 

 

REGISTERED OFFICE

 

Syunbaya Street 66/2

Zhetysuskiy District

Almaty 050050

 

 

SPECIAL NOTE

 

You enquired on: Carmen Jewellery Design. Please note that the correct name is as per heading.  

 

The address which you provided: 44 Furmandya St Almaty is incorrect. Please note that subject's correct administrative office address is as per heading. Interviewed: Third party sources.

 

 

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.49.25

UK Pound

1

Rs.76.75

Euro

1

Rs.65.16

 

 

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 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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.