MIRA INFORM REPORT

 

 

Report Date :

26.10.2012

IDENTIFICATION DETAILS

 

Correct Name :

BORRIELLO MASSIMO

 

 

Registered Office :

Via Montedoro, 19,

80059 - Torre del Greco (NA) 

 

 

Country :

Italy

 

 

Date of Incorporation :

25.11.1997

 

 

Com. Reg. No.:

NA-1998-38479 of since 20/03/1998

 

 

Legal Form :

Sole proprietorship

 

 

Line of Business :

Shaping of precious and semi-precious stones for jewellery and for industrial use

 

 

No. of Employees :

01 to 05 employees

 

 

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 :

Small Company 

Payment Behaviour :

No Complaints

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)

Italy

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

ITALY - ECONOMIC OVERVIEW

 

Italy has a diversified industrial economy, which is divided into a developed industrial north, dominated by private companies, and a less-developed, welfare-dependent, agricultural south, with high unemployment. The Italian economy is driven in large part by the manufacture of high-quality consumer goods produced by small and medium-sized enterprises, many of them family owned. Italy also has a sizable underground economy, which by some estimates accounts for as much as 17% of GDP. These activities are most common within the agriculture, construction, and service sectors. Italy is the third-largest economy in the euro-zone, but exceptionally high public debt burdens and structural impediments to growth have rendered it vulnerable to scrutiny by financial markets. Public debt has increased steadily since 2007, reaching 120% of GDP in 2011, and borrowing costs on sovereign government debt have risen to record levels. During the second half of 2011 the government passed a series of three austerity packages to balance its budget by 2013 and decrease its public debt burden. These measures included a hike in the value-added tax, pension reforms, and cuts to public administration. The government also faces pressure from investors and European partners to address Italy's long-standing structural impediments to growth, such as an inflexible labor market and widespread tax evasion. The international financial crisis worsened conditions in Italy''s labor market, with unemployment rising from 6.2% in 2007 to 8.4% in 2011, but in the longer-term Italy''s low fertility rate and quota-driven immigration policies will increasingly strain its economy. The euro-zone crisis along with Italian austerity measures have reduced exports and domestic demand, slowing Italy''s recovery. Italy''s GDP is still 5% below its 2007 pre-crisis level.

 

Source : CIA

 

 

Company name & address 

 

Borriello Massimo

 

Via Montedoro, 19

 

80059 - Torre del Greco  (NA) -IT-

 

 

Summary

 

Fiscal Code

:

BRRMSM67L30L259D

Legal Form

:

Sole proprietorship

start of Activities

:

25/11/1997

Turnover Range

:

375.000/500.000

Number of Employees

:

from 1 to 5

 

 

Activity

 

Shaping of precious and semi-precious stones for jewellery and for industrial use

Wholesale of clocks, watches and jewellery

Retail sale of watches, jewellery and silverware



Legal Data

 

Legal Form : Sole proprietorship

Fiscal Code : BRRMSM67L30L259D

 

Foreign Trade Reg. no. : NA029382 since 09/06/1998

 

Foreign Trade Reg. no. : 029382 of since 09/06/1998

 

Chamber of Commerce no. : 599649 of since 18/03/1998

 

Firms' Register : NA-1998-38479 of since 20/03/1998

 

V.A.T. Code : 03144821216

 

R. E. C. no. : 121709 of since 04/09/1991

 

Start of Activities

: 25/11/1997



Members

 

 

Borriello

Massimo

 

 

Born in Torre del Greco

(NA)

on 30/07/1967

- Fiscal Code : BRRMSM67L30L259D

 

 

Residence:

 

Delle Mimose

, 8

- 80056

Ercolano

(NA)

- IT -

 

Position

Since

Shares Amount

% Ownership

Proprietor

 

 

 

 

No Prejudicial events are reported

 

No Protests registered



Companies connected to members *

 

*checkings have been performed on a national scale.

In this module the companies in which members hold/held positions are listed.

 

The Members of the subject firm are not reported to be Members in other companies.



Direct Participations

 

The Company under review has no participations in other Companies.



Firm's location and structure

 

In order to carry out its activities the firm uses the following locations:

 

-

Legal and operative seat

 

 

 

 

 

 

 

Montedoro

, 19

- 80059

- Torre del Greco

(NA)

- IT -

 

 

 

 

Trading Style: CORALLI e PERLE

 

 

 

 

PHONE

: 0818826072

 

 

 

 

Employees

: 1

 

 

 

 

Assistants

: 1

 

 

Data Base Prejudicial Events Search

 

Search performed on a National Scale

 

 

 

Prejudicial Events Search Result: NEGATIVE

 

Search performed on a specialized data base.

Legal Procedures

 

None reported, standing to the latest received edition of the Official Publications.



Financial and Economical Analysis

 

The subject has operated for along.

Good financial conditions. They let the firm meet business

requirements without problems.

It has a well-balanced economical-financial structure. Normally,

engagments are settled on fixed terms.

Modest indebtedeness. Subject never exceeded the normal levels of

supplier and bank credit.

No irregularities are registered.

Correct trade relations. No meaningful remark is expressed by

usual suppliers.



Financial Data

 

 

 

Complete balance-sheet for the year

 

(in Eur

x 1)

 

Item Type

Value

Sales

400.000






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.53.63

UK Pound

1

Rs.86.18

Euro

1

Rs.69.75

 

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

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.