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Report Date : |
26.07.2012 |
IDENTIFICATION DETAILS
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Name : |
RICHOLD SA |
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Registered Office : |
Cours de Rive 10, 1204 Genève |
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Country : |
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Date of Incorporation : |
24.08.1962 |
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Com. Reg. No.: |
660.0.201.962-6 / 153115 |
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Legal Form : |
Company limited by shares |
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Line of Business : |
Subject is highly specialised in tailor made Full and Single cuts, Richold
is the leading supplier of renowned worldwide watch and jewellery brands. The
company also deals with diamonds |
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No. of Employees : |
30 |
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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Switzerland |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
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 |
Richold SA
Cours de Rive 10
1204 Genève
Switzerland/CH
Telephone: 022
7313150
Fax: 022
7314397
Web site: http://www.richold.com
E-mail: info@richold.com
VAT-No.: CHE107742528
Established: 1962
Line of Business: Watch technology, Consumer goods manufacturing
Industry Division: Manufacturing
Industry-code (NACE): 2652 Manufacture of
watches and clocks
3212 Manufacture of jewellery and related
articles
Import/Export: Import,
Export
Banks: unknown
Coverage: Company
Figures: approximately
Employees: 30
Highly
specialised in tailor made Full and Single cuts, Richold is the leading supplier
of renowned worldwide watch and jewellery brands. Richold manufactures to very
precise standards at plants in China and Sri Lanka and offers extremely
advanced in-house design services.
Products:
Generic polished
goods:
- Very fine and
ideal make in full cut and single cut diamond
- Precision baguette
- GIA certificates
from 0.50ct to 10ct in all shapes
Services:
Highly sophisticated
in-house design services in support of customers’
product development
requirements; diamond manufacturing to extremely
precise standards
and specifications.
Information on property
ownership was not available.
Company No: 660.0.201.962-6
/ 153115
Legal form: Company
limited by shares
Registration: 24.08.1962
Legal status: active
Responsible Register: Registre du commerce du canton de Genève
History: Date
of Statutes: 22.09.1988
Date
of Statutes: 07.12.2004
Entry Deleted Name
active Richold
SA
Entry Deleted Legal domicile
active Genève,
Switzerland
Entry Deleted Address
14.07.2005 Cours
de Rive 10, 1200 Genève, Switzerland/CH
14.07.2005 rue du Mont-Blanc 4, 1200
Genève/GE, Switzerland/CH
Entry Deleted Capital
09.12.2004 Share
Capital CHF 5'050'000, paidup CHF 5'050'000
09.12.2004 Share Capital CHF 50'000, paidup CHF 50'000
Entry Deleted Capital Structure
09.12.2004 5'050
Registered shares of CHF 1'000.--
09.12.2004 500 Bearer shares of CHF 100.--
Entry Deleted Activity (original Language)
active Toutes
affaires financières et commerciales et principalement achat, vente, échange,
courtage, exportation et importation de pierres précieuses, diamants, bijoux et
métaux précieux.
Entry Deleted Remarks (original Language)
active Publishing
authority: FOSC.
active Board
of directors: 1 ou plusieurs membres.
09.12.2004 Reports:
Communication aux actionnaires: lettre recommandée.
Title Name
Executive Director Maurice Dabbah, Origin: Genève, Switzerland,
Residential address: Genève, Switzerland, single signature
Title Name
Auditor Berney
et Associés SA Société Fiduciaire, Residential address: Genève, Switzerland,
Registered since: 17.07.2006
Title Name
Chief
Executive Officer Maurice
Dabbah
Name: Richold
Holding SA
City/Country: Genève,
Switzerland/CH
No. of Owner/-s: 1
Owner: The
company is domestic owned.
Class: 100%
Name: Richold
Holding SA
City/Country: Genève,
Switzerland/CH
Interest: 100.00%
voting right, 100.00% capital interest
Name: RICHOLD
BELGIUM
City/Country: Antwerpen,
Belgium/BE
It is believed that the
company has no investments.
Control date Year No. Amount CHF Status
11.01.2007 2007 0
11.01.2007 2006 0
An updated legal
action check is only available against proof of interest. e.g. a copy of an
enquiry letter, and order or invoice relating to the subject company.
Financial Statements: The company does not disclose any financial statements. Third
parties are not permitted any insight into the financial affairs. It is
therefore difficult to make a proper assessment of the actual situation.
Financial Situation: The financial situation is in order.
Payment experiences: There are no unfavourable reports regarding the financial
obligations.
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.
-
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.55.15 |
|
UK Pound |
1 |
Rs.86.58 |
|
Euro |
1 |
Rs.67.60 |
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 |
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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 |
|
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.