MIRA
INFORM REPORT
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Report Date : |
18.06.2012 |
IDENTIFICATION DETAILS
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Name : |
NEW GEM SPA |
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Registered Office : |
Piazza Antonio Gramsci 12/G Valenza, 15048 |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
05.02.1990 |
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Com. Reg. No.: |
01440770061 |
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Legal Form : |
Public Independent |
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Line of Business : |
Wholesale of Jewelry, Watches, Precious Stones, and Precious Metals |
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No. of Employees : |
6 |
RATING & COMMENTS
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MIRAs Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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 March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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A2 |
A2 |
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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 |
Company name and address
New Gem SpA
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Business Description
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NEW GEM SPA is primarily engaged in wholesale of furniture; wholesale
of jewellery; wholesale of musical instruments; wholesale of photographic
goods; wholesale of toys and games; wholesale of travel and fancy goods; and wholesale
of other household goods not elsewhere classified. |
Industry
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Industry |
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ANZSIC 2006: |
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NACE 2002: |
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NAICS 2002: |
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US SIC 1987: |
5094 - Jewelry, Watches, Precious Stones, and
Precious Metals |
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Key Executives
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News
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1 - Profit &
Loss Item Exchange Rate: USD 1 = EUR 0.7550783
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7454064
Corporate Overview
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Executives Report
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GEM Restaurant & Lounge opens in Downtown Crossing, offering classy comfort
food, cocktails, and luxury from Big Night Entertainment Group
dining
13 April 2012
By Devra First, Globe Staff
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[What follows is
the full text of the news story.] Big Night Entertainment
Group is in expansion mode. The restaurateurs add the new GEM to their
roster, which includes Red Lantern, Tosca in GEM is located
near the old jewelers' buildings of Downtown Crossing, a restaurant and lounge
its operators say is inspired by the luxurious Hotel Costes in The place is
outfitted in red velvet and patterned damask, black lacquered wood and plenty
of fringe. There is a Turkish mosaic floor and a stone bar. A lounge area
accommodates 50; the 36-seat dining room is reservation-only. Executive chef
Kevin Long puts hearty comfort on the menu, with grilled thin crust pizza,
lobster chowder, wedge salads, and shrimp and grits; penne Bolognese, pressed
chicken GEM may be
designed as a small jewel, but Big Night generally thinks big. A Pan-Asian
restaurant called Empire is planned for the Devra First Devra First can
be reached at dfirst@globe.com.
Follow her on Twitter @devrafirst. |
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World Entertainment News Network
15 November 2011
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[What follows is
the full text of the news story.] Nov 15, 2011
(WENN via COMTEX) -- Classic rockers Tommy Shaw's
Come Sail Away hitmakers have created the Diana Warner for Items include
gunmetal and antique gold dog tag necklaces, rose gold and antique silver
guitar pick earrings and gold and silver charms featuring the lyrics to Come
Sail Away. A second
collection will be made available next year (12). Shaw's wife
Jeanne, who was a big part of the design process, tells WENN, "The
second we saw Diana's pieces, we knew we wanted to work with her. We're so
thrilled to be able to offer something very special to |
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Annual Profit & Loss
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31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate (Period
Average) |
0.755078 |
0.719047 |
0.683679 |
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Consolidated |
No |
No |
No |
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Total income |
12.5 |
9.6 |
9.0 |
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Net sales |
12.5 |
9.6 |
9.0 |
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Other operating income |
0.0 |
0.0 |
0.0 |
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Raw materials and consumables employed |
10.8 |
8.2 |
7.3 |
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Other expenses |
0.6 |
0.6 |
0.6 |
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Total payroll costs |
0.3 |
0.3 |
0.3 |
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Fixed asset depreciation and amortisation |
0.1 |
0.1 |
0.1 |
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Other operating costs |
0.1 |
0.4 |
0.0 |
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Net operating income |
0.7 |
0.1 |
0.7 |
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Total financial income |
0.0 |
0.4 |
-0.1 |
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Total expenses |
0.2 |
0.3 |
0.4 |
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Profit before tax |
0.5 |
0.2 |
0.1 |
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Profit after extraordinary items and before tax |
0.5 |
0.2 |
0.1 |
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Total taxation |
0.2 |
0.2 |
0.1 |
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Net profit |
0.3 |
0.1 |
0.0 |
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Annual Balance
Sheet |
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Financials in:
USD (mil) |
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31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
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Consolidated |
No |
No |
No |
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Total stockholders equity |
2.1 |
1.9 |
2.0 |
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Provision for risks |
0.0 |
0.0 |
- |
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Provision for pensions |
0.1 |
0.1 |
0.1 |
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Mortgages and loans |
1.3 |
0.7 |
- |
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Other long-term liabilities |
- |
- |
0.8 |
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Trade creditors |
3.8 |
2.4 |
- |
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Bank loans and overdrafts |
1.4 |
2.1 |
- |
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Other current liabilities |
0.4 |
0.4 |
3.7 |
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Total current liabilities |
5.7 |
4.9 |
3.7 |
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Total liabilities (including net worth) |
9.1 |
7.7 |
6.6 |
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Total tangible fixed assets |
0.5 |
0.4 |
0.3 |
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Total financial assets |
0.0 |
0.0 |
0.0 |
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Total non-current assets |
0.5 |
0.4 |
0.4 |
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Net stocks and work in progress |
1.2 |
0.8 |
1.2 |
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Trade debtors |
6.8 |
5.9 |
- |
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Other receivables |
0.1 |
0.1 |
4.4 |
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Cash and liquid assets |
0.5 |
0.5 |
0.7 |
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Accruals |
0.0 |
0.0 |
0.0 |
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Total current assets |
8.7 |
7.2 |
6.3 |
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Total assets |
9.1 |
7.7 |
6.6 |
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Annual Ratios |
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Financials in:
USD (mil) |
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31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
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Consolidated |
No |
No |
No |
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Current ratio |
1.50 |
1.50 |
1.70 |
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Quick ratio |
1.30 |
1.30 |
1.40 |
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Current liabilities to net worth |
0.03% |
0.03% |
0.02% |
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Sales per employee |
1.58 |
1.15 |
1.02 |
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Average wage per employee |
0.04 |
0.04 |
0.04 |
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Net worth |
2.1 |
1.9 |
2.0 |
DIAMOND INDUSTRY
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From time immemorial,
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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
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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
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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.55.76 |
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1 |
Rs.86.69 |
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Euro |
1 |
Rs.70.44 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
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 SCs 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.