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Report Date : |
20.11.2012 |
IDENTIFICATION DETAILS
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Name : |
ANIRAJ DIAMOND EXPORT PRIVATE
LIMITED ( |
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Registered Office : |
No. 5, 9FL-2, An Ho Road Section
2, Daan District, |
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Country : |
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Date of Incorporation : |
10.11.2004 |
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Com. Reg. No.: |
27245703 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Trading of Diamonds |
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No. of Employees : |
10 |
RATING & COMMENTS
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MIRA’s 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 : |
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
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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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 |
Taiwan - ECONOMIC OVERVIEW
Taiwan has a dynamic capitalist economy with gradually decreasing government guidance of investment and foreign trade. In keeping with this trend, some large, state-owned banks and industrial firms have been privatized. Exports, led by electronics, machinery, and petrochemicals have provided the primary impetus for economic development. This heavy dependence on exports exposes the economy to fluctuations in world demand. In 2009, Taiwan's GDP contracted 1.9%, due primarily to a 20% year-on-year decline in exports. In 2010 GDP grew 10.9%, as exports returned to the level of previous years, and in 2011, grew 5.2%. However, 2012 growth will likely be less, according to most forecasters, because of softening global demand. Taiwan's diplomatic isolation, low birth rate, and rapidly aging population are major long-term challenges. Free trade agreements have proliferated in East Asia over the past several years, but so far Taiwan has been excluded from this greater economic integration largely because of its diplomatic status with the exception of the landmark Economic Cooperation Framework Agreement (ECFA) signed with China in June 2010. The MA administration has said that the ECFA will serve as a stepping stone toward trade pacts with other regional partners, and negotiations on a deal with Singapore began this year. Follow-on components of ECFA, including deals on trade in goods, services, and investment, have yet to be completed. Taiwan's Total Fertility rate of just over one child per woman is among the lowest in the world, raising the prospect of future labor shortages, falling domestic demand, and declining tax revenues. Taiwan's population is aging quickly, with the number of people over 65 accounting for 10.9% of the island's total population as of 2011. The island runs a large trade surplus, and its foreign reserves are the world's fourth largest, behind China, Japan, and Russia. Since 2005 China has overtaken the US to become Taiwan's second-largest source of imports after Japan. China is also the island's number one destination for foreign direct investment. Three financial memorandums of understanding, covering banking, securities, and insurance, took effect in mid-January 2010, opening the island to greater investments from the mainland's financial firms and institutional investors, and providing new opportunities for Taiwan financial firms to operate in China. Closer economic links with the mainland bring greater opportunities for the Taiwan economy, but also poses new challenges as the island becomes more economically dependent on China while political differences remain unresolved.
Source : CIA
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Company Name: |
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Supplied Name: |
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Trading Address: |
Junction of Xinyi Road and
Dunhua South Road, Taipei, Taiwan R.O.C. |
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Supplied Address: |
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Telephone Number: |
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E-mail: |
Notes: Subject’s exact name and current address are as above and the supplied address is the former one.
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Registered Name: |
Aniraj
Diamond Export Private Limited (Taiwan Branch) |
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Registered Address: |
No.
5, 9FL-2, An Ho Road Section 2, Daan District, Taipei Taiwan |
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Date of Foundation: |
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Registration Number: |
27245703 |
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Registered Capital: |
N/A |
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Legal Representatives: |
Shah
Devang Kamleshbhai |
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Legal Form: |
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Principal Activities: |
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Staff: |
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Listed
at Stock Exchange: |
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Date
of Last Annual Return: |
Notes: Subject did not introduce its staff number and from other source we can not obtain the relevant information, either. And it is not required for branch to register capital.
Subject was incorporated on
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Registered Name: |
Aniraj Diamond Export Private Limited |
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% of Investment |
100% |
Parent Company
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Registered Name: |
Aniraj Diamond Export Private Limited |
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Registered Address: |
No. 5, 9FL-2, An Ho Road Section 2, Daan District,
Taipei Taiwan |
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Date of Foundation: |
|
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Registration Number: |
27245703 |
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Registry: |
Department of Commerce, Ministry of Economic Affairs,
R.O.C. |
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Registered Capital: |
NTD 5,000,000 (USD 169,500) (As of 2012.11, 1 NTD = 0.0339 USD) |
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Legal Representatives: |
Saha Priyank Mahesh |
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Legal Form: |
Private Limited Company |
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Listed
at Stock Exchange: |
No |
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Date
of Last Annual Return: |
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Core
Management
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Name |
Shah Devang Kamleshbhai |
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Position |
Branch Manager |
Offices &
Factories
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Headquarters |
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Add |
Junction of Xinyi Road and Dunhua South Road,
Taipei, Taiwan R.O.C. |
Production
Information
l
Subject is a trader of diamonds without
any production activities.
Purchase
Information
l
The registered activities of subject’s
parent
|
Business Code |
Details |
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F115010 |
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F215010 |
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F115020 |
Wholesales of ores |
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F215020 |
Retails of ores |
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F401010 |
International Trading Business |
l
Subject purchases processed diamonds
mainly abroad from
l
The subject is mainly engaged in sales
of diamonds
l
Subject’s products are both sold in
domestic and overseas market and it transports the diamonds from the original
places directly to overseas customers.
l
Subject’s customers are mainly jewelry
manufacturers
Import
and export right:
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Import right |
Yes |
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Export right |
Yes |
Domestic Purchase
Subject has little domestic purchase
Foreign Purchase
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Payment
Terms |
Proportion |
|
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Diamonds
|
CBD,
etc |
100% |
Sales
Domestic
Markets
|
Sales
Terms |
Proportion |
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Diamonds
|
CBD,
etc |
100% |
Export
|
Sales
Terms |
Proportion |
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Diamonds
|
TT
in Advance, etc |
100% |
Subject has no obligations to disclose its financial
statements to the third party according to the relevant policy in Taiwan and
the only source from which we can obtain the information is the subject itself.
Subject’s relevant staff Andy declined to disclose
its financials citing the grounds of company’s confidentiality; from other
source we can not obtain the relevant information, either.
Subject declined to disclose its
bank details; from other source we can not obtain the relevant information,
either.
Mortgage
No chattel mortgage record of
subject has been found within the recent 3 months.
Lawsuit
Up to date of reporting, no existing or
latent litigation of the subject has been found.
|
Name |
Andy |
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
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.54.96 |
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|
1 |
Rs.87.49 |
|
Euro |
1 |
Rs.70.15 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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 |
-- |
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.