|
Report Date : |
20.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
JEWEL HOUSE A.K.M. AKTIEBOLAG |
|
|
|
|
Registered Office : |
Västerlånggatan 10, 11129 Stockholm |
|
|
|
|
Country : |
Sweden |
|
|
|
|
Financials (as on) : |
2011 |
|
|
|
|
Date of Incorporation : |
27.04.1981 |
|
|
|
|
Com. Reg. No.: |
5562098367 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Wholesaler of watches and jewellery |
|
|
|
|
No. of Employees : |
03 |
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 : |
Slow |
|
|
|
|
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) |
|
Sweden |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
sweden ECONOMIC OVERVIEW
Aided by peace
and neutrality for the whole of the 20th century, Sweden has achieved an
enviable standard of living under a mixed system of high-tech capitalism and
extensive welfare benefits. It has a modern distribution system, excellent
internal and external communications, and a highly skilled labor force. In
September 2003, Swedish voters turned down entry into the euro system concerned
about the impact on the economy and sovereignty. Timber, hydropower, and iron
ore constitute the resource base of an economy heavily oriented toward foreign
trade. Privately owned firms account for vast majority of industrial output, of
which the engineering sector accounts for about 50% of output and exports.
Agriculture accounts for little more than 1% of GDP and of employment. Until
2008, Sweden was in the midst of a sustained economic upswing, boosted by increased
domestic demand and strong exports. This and robust finances offered the
center-right government considerable scope to implement its reform program
aimed at increasing employment, reducing welfare dependence, and streamlining
the state's role in the economy. Despite strong finances and underlying
fundamentals, the Swedish economy slid into recession in the third quarter of
2008 and growth continued downward in 2009 as deteriorating global conditions
reduced export demand and consumption. Strong exports of commodities and a
return to profitability by Sweden's banking sector drove the strong rebound in
2010, which continued in 2011, but growth slipped to 1.2% in 2012. The
government proposed stimulus measures in 2012 to curb the effects of a global
economic slowdown and boost employment and growth.
|
Source : CIA |
|
Business
Name |
Jewel House A.K.M. Aktiebolag |
|
Country |
SWEDEN |
|
Company Registration Number |
5562098367 |
|
Main Activity |
Wholesale of watches and jewellery |
|
Activity Code |
46480 |
|
Company Status |
Active |
|
Latest Turnover Figure |
3.772.000 SEK |
|
Latest Shareholder Equity Figure |
159.000 SEK |
|
Current
Directors |
|||
|
Name |
Appointment Date |
Position |
|
|
Anita Mohla |
16/08/2012 |
Actual Member of Board |
|
|
Atul Mohla |
16/08/2012 |
Actual Member of Board |
|
|
Amit Mohla |
16/08/2012 |
Substitute |
|
|
Previous
Directors |
|||
|
Name |
Appointment Date |
Position |
Resignation Date |
|
Anita Mohla |
01/11/2003 |
Substitute |
16/08/2012 |
|
Ajit Kumar Mohla |
01/11/2003 |
Actual Member of Board |
27/07/2012 |
No negative information found
|
Issued Share Capital |
350.000 SEK |
|
Debt balance at the Swedish Enforcement Agency |
|
|
Number of Private Claims |
- |
|
Balance of Private Claims |
- |
|
Number of Public Claims |
- |
|
Balance of Public Claims |
- |
|
Total Balance |
- |
|
Record
of non-payment |
|
|
Number of distraint attempts and repossessions |
- |
|
Number of public claims |
- |
|
Number of private claims |
- |
|
Number of applications for an order to pay |
- |
|
Number of reclaimed/revoked applications |
- |
|
No group structure for this company. |
|
Profit and Loss |
|||
|
Financial Year |
2011 |
2010 |
2009 |
|
Number of Weeks |
52 |
52 |
52 |
|
Currency |
SEK |
SEK |
SEK |
|
Consolidated Accounts |
N |
N |
N |
|
Revenue |
3.772.000 |
2.842.000 |
2.608.000 |
|
Operating Costs |
4.196.000 |
2.461.000 |
2.618.000 |
|
Operating Profit |
-424.000 |
381.000 |
-10.000 |
|
Wages & Salaries |
-413.000 |
-190.000 |
-235.000 |
|
Depreciation |
-7.000 |
-7.000 |
- |
|
Financial Income |
- |
1.000 |
- |
|
Financial Expenses |
-70.000 |
-29.000 |
-30.000 |
|
Extraordinary Income |
- |
- |
- |
|
Extraordinary Costs |
- |
- |
- |
|
Profit before Tax |
-494.000 |
353.000 |
-40.000 |
|
Tax |
- |
- |
- |
|
Profit after Tax |
-494.000 |
353.000 |
-40.000 |
|
Minority Interests |
- |
- |
- |
|
Other Appropriations |
- |
- |
35.000 |
|
Retained Profit |
-494.000 |
353.000 |
-40.000 |
|
Balance Sheet |
|||
|
Financial
Year |
2011 |
2010 |
2009 |
|
Number of Weeks |
52 |
52 |
52 |
|
Currency |
SEK |
SEK |
SEK |
|
Consolidated Accounts |
N |
N |
N |
|
Land & Buildings |
0 |
0 |
0 |
|
Plant & Machinery |
0 |
0 |
0 |
|
Other Tangible Assets |
9.000 |
16.000 |
0 |
|
Total Tangible Assets |
9.000 |
16.000 |
0 |
|
Goodwill |
0 |
0 |
0 |
|
Other Intangible Assets |
0 |
0 |
0 |
|
Total Intangible Assets |
0 |
0 |
0 |
|
Loans To Group |
0 |
0 |
0 |
|
Other Loans |
0 |
0 |
0 |
|
Miscellaneous Fixed Assets |
0 |
0 |
0 |
|
Total Other Fixed Assets |
0 |
0 |
0 |
|
TOTAL FIXED ASSETS |
9.000 |
16.000 |
0 |
|
Work In Progress |
0 |
0 |
0 |
|
Other Inventories |
2.522.000 |
2.558.000 |
2.420.000 |
|
Total Inventories |
2.522.000 |
2.558.000 |
2.420.000 |
|
Trade Receivables |
35.000 |
25.000 |
9.000 |
|
Group Receivables |
0 |
0 |
0 |
|
Miscellaneous Receivables |
194.000 |
153.000 |
163.000 |
|
Total Receivables |
229.000 |
178.000 |
172.000 |
|
Cash |
66.000 |
63.000 |
118.000 |
|
Other Current Assets |
0 |
0 |
0 |
|
TOTAL CURRENT ASSETS |
2.817.000 |
2.799.000 |
2.710.000 |
|
TOTAL ASSETS |
2.826.000 |
2.814.000 |
2.710.000 |
|
Trade Payables |
312.000 |
26.000 |
18.000 |
|
Bank Liabilities |
0 |
0 |
0 |
|
Group Payables |
0 |
0 |
0 |
|
Miscellaneous Liabilities |
1.706.000 |
1.786.000 |
2.017.000 |
|
TOTAL CURRENT LIABILITIES |
2.018.000 |
1.812.000 |
2.035.000 |
|
Bank Liabilities Due After 1 Year |
324.000 |
0 |
375.000 |
|
Other Loans Or Finance Due After 1 Year |
0 |
0 |
0 |
|
Group Payables After 1 Year |
0 |
0 |
0 |
|
Miscellaneous Liabilities Due After 1 Year |
325.000 |
350.000 |
0 |
|
TOTAL LONG TERM LIABILITIES |
649.000 |
350.000 |
375.000 |
|
TOTAL LIABILITIES |
2.667.000 |
2.161.000 |
2.410.000 |
|
Called Up Share Capital |
350.000 |
350.000 |
350.000 |
|
Share Premium |
0 |
0 |
0 |
|
Revenue Reserves |
-261.000 |
233.000 |
-155.000 |
|
Other Reserves |
70.000 |
70.000 |
105.000 |
|
TOTAL SHAREHOLDERS EQUITY |
159.000 |
653.000 |
300.000 |
|
Other Financials |
|||
|
Contingent Liabilities |
1.160.000 |
1.160.000 |
1.160.000 |
|
Working Capital |
799.000 |
987.000 |
675.000 |
|
Net Worth |
159.000 |
653.000 |
300.000 |
|
Ratios |
|||
|
Pre-Tax Profit Margin |
-13.10 % |
12.42 % |
-1.53 % |
|
Return On Capital Employed |
-10.20 % |
7.63 % |
-0.84 % |
|
Return On Total Assets Employed |
-17.48 % |
12.54 % |
-1.48 % |
|
Return On Net Assets Employed |
-310.69 % |
54.06 % |
-13.33 % |
|
Sales/Net Working Capital |
4.72 |
2.88 |
3.86 |
|
Stock Turnover Ratio |
66.86 % |
90.01 % |
92.79 % |
|
Debtor Days |
3.39 |
3.21 |
1.26 |
|
Creditor Days |
30.19 |
3.34 |
2.52 |
|
Current Ratio |
1.40 |
1.54 |
1.33 |
|
Liquidity Ratio/Acid Test |
0.15 |
0.13 |
0.14 |
|
Current Debt Ratio |
12.69 |
2.77 |
6.78 |
|
Gearing |
408.18 % |
53.60 % |
125.00 % |
|
Equity In Percentage |
5.63 % |
23.20 % |
11.07 % |
|
Total Debt Ratio |
16.77 |
3.31 |
8.03 |
|
Basic
Information |
|
|
Business Name |
Jewel House A.K.M. Aktiebolag |
|
Registered Company Name |
Jewel House A.K.M. Aktiebolag |
|
Company Registration Number |
5562098367 |
|
Country |
SWEDEN |
|
VAT Registration Number |
SE556209836701 |
|
Date of Company Registration |
27/04/1981 |
|
Legal Form |
Limited liability company |
|
Company Status |
Active |
|
Currency of this Report |
SEK |
|
Principal Activity Description |
Bolaget skall bedriva import och export av ädelmetaller och ädelstenar
samt handel med konfektion ävensom idka därmed förenlig verksamhet. |
|
Contact Address |
Västerlånggatan 10, 11129 STOCKHOLM |
|
Contact Telephone Number |
08-204860 |
|
Activities |
|
|
Activity
Code |
Activity Description |
|
46480 |
Wholesale of watches and jewellery |
|
Main Address |
||
|
Address |
Country |
Telephone |
|
Västerlånggatan 10, 11129 STOCKHOLM |
SWEDEN |
08-204860 |
|
Other Address |
|
|
Address |
Country |
|
No other addresses for this company. |
|
|
Email Addresses |
|
No information for this company. |
|
Web Pages |
|
No information for this company. |
|
Employee
Information |
|
|
Year |
Number of Employees |
|
2011 |
3 |
|
2010 |
3 |
|
2009 |
3 |
|
2008 |
2 |
|
2007 |
2 |
|
Advisors |
|
|
Auditor Name |
Bengt Ivar Beergrehn |
|
Tax Registrations |
|
|
Registered for FTax |
Yes |
|
Registered for VAT |
Yes |
|
Registered for Employee Tax |
Yes |
|
Certificates |
||
|
Type |
Category |
Issuer |
|
No certificate information for this company. |
|
|
|
Event History |
|
|
Event Date |
Event Description |
|
21/11/2012 |
Annual report (PDF), new |
|
06/11/2012 |
Annual account, new |
|
19/10/2012 |
Annual report (PDF), new |
|
17/08/2012 |
Authorised signatory, changed |
|
17/08/2012 |
Place of residence, changed |
|
17/08/2012 |
Board, changed |
|
17/08/2012 |
Company representatives, changed |
|
28/07/2012 |
Board, changed |
|
28/07/2012 |
Authorised signatory, changed |
|
28/07/2012 |
Company representatives, changed |
|
05/01/2012 |
Annual account, new |
|
29/12/2011 |
Annual report (PDF), new |
|
23/08/2011 |
Board, changed |
|
23/08/2011 |
Company representatives, changed |
|
19/10/2010 |
Annual account, new |
|
11/10/2010 |
Annual report (PDF), new |
|
18/12/2009 |
Authorised signatory, changed |
|
03/11/2009 |
Annual account, new |
|
13/10/2009 |
Annual report (PDF), new |
|
22/06/2009 |
Company representatives, changed |
|
22/06/2009 |
Authorised signatory, changed |
|
22/06/2009 |
Board, changed |
|
11/05/2009 |
Board, changed |
|
11/05/2009 |
Company representatives, changed |
|
11/05/2009 |
Authorised signatory, changed |
|
30/10/2008 |
Annual account, new |
|
27/10/2008 |
Annual report (PDF), new |
|
Status History |
|
|
Date |
Event Description |
|
No company status history for this company |
|
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.
-
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 –
-
Gem & Jewellery Export Promotion Council in its statistical data has
shown the export of polished diamonds to have increase by 28 % in February
2013. Compared to $ 1.4 bn worth of polished diamond export in February, 2012,
India exported $ 1.84 billion worth of polished diamonds in February 2013. A
senior executive of GJEPC said, “Export of cut and polished diamonds started
falling month-wise after the imposition of 2 % of import duty on the polished diamonds.
But February, 2013 has given a new ray of hope to the industry as the export of
polished diamonds has actually increased by 28 %. It means the industry
is on the track of recovery and round tripping of diamonds has stopped
completely.” Demand has started coming from the US, the UK, Japan and China.
India’s polished diamond export is expected to cross $ 21 bn in 2013-14.
-
The banking sector has started exercising restraint while following
prudent risk management norms when lending money to gems and jewellery sector.
This follows the implementation of Basel III accord – a global voluntary
regulatory standard on bank capital adequacy, stress testing and market
liquidity.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.03 |
|
UK Pound |
1 |
Rs.82.43 |
|
Euro |
1 |
Rs.70.49 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.