MIRA
INFORM REPORT
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Report Date : |
17.12.2013 |
IDENTIFICATION DETAILS
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Name : |
SAACHI GEMS BVBA |
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Registered Office : |
Schupstraat 1-7, 2018 Antwerpen |
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Country : |
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Date of Incorporation : |
17.10.2012 |
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Com. Reg. No.: |
849886086 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Wholesaler of watches and jewellery |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Business |
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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 – September 30th, 2013
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Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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Belgium |
A1 |
A1 |
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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 |
belgium ECONOMIC OVERVIEW
This modern, open,
and private-enterprise-based economy has capitalized on its central geographic
location, highly developed transport network, and diversified industrial and
commercial base. Industry is concentrated mainly in the more heavily-populated
region of Flanders in the north. With few natural resources, Belgium imports
substantial quantities of raw materials and exports a large volume of
manufactures, making its economy vulnerable to volatility in world markets.
Roughly three-quarters of Belgium's trade is with other EU countries, and
Belgium has benefited most from its proximity to Germany. In 2011 Belgian GDP
grew by 1.8%, the unemployment rate decreased slightly to 7.2% from 8.3% the
previous year, and the government reduced the budget deficit from a peak of 6%
of GDP in 2009 to 4.2% in 2011 and 3.3% in 2012. Fourth quarter GDP growth in
2012 was at -0.1%, the third consecutive quarter of negative growth. This
brought economic growth for the whole of 2012 to negative 0.2%. It also left
Belgium on the brink of a possible recession at the end of 2012. However, at
year's end, the government appeared close to meeting its 2012 budget deficit
goal of 3% of GDP. Despite the relative improvement in Belgium's budget
deficit, public debt hovers around 100% of GDP, a factor that has contributed
to investor perceptions that the country is increasingly vulnerable to
spillover from the euro-zone crisis. Belgian banks were severely affected by
the international financial crisis in 2008 with three major banks receiving
capital injections from the government, and the nationalization of the Belgian
retail arm of a Franco-Belgian bank.
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Source : CIA |
REGISTERED NAME & COMPANY
SUMMARY
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Business number |
849886086 |
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Company name |
SAACHI GEMS BVBA |
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Address |
SCHUPSTRAAT 1-7 |
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2018 ANTWERPEN |
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Date of establishment |
17/10/2012 |
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Telephone number |
036898791 |
DIRECTORS/MANAGEMENT
Current director
details
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Name |
HIMANSHU BABULAL MEHTA |
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Position |
Non Statutory Partner |
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Start Date |
17/10/2012 |
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Street |
45 QUINTEN MATSIJSLEI ANTWERPEN |
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Post code |
2018 |
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Country |
Belgium |
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Name |
HIMANSHU BABULAL MEHTA |
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Position |
Principal
Manager |
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Start Date |
17/10/2012 |
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Street |
45 QUINTEN MATSIJSLEI ANTWERPEN |
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Post code |
2018 |
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Country |
Belgium |
NEGATIVE INFORMATION
Court data summary
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Bankruptcy details |
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Court action type |
no |
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Protested bills |
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Bill amount |
- |
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NSSO details |
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Date of summons |
- |
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Business number |
849886086 |
Company name |
SAACHI GEMS BVBA |
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Fax number |
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Date founded |
17/10/2012 |
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Company status |
active |
Company type |
Private Limited Company (BL/LX) |
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Currency |
Euro (€) |
Date of latest accounts |
- |
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Activity code |
46480 |
liable for VAT |
yes |
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Activity description |
Wholesale of watches and jewellery |
VAT Number |
BE.0849.886.086 |
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Belgian Bullettin of Acts
Publications |
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Bankruptcy details
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There is no bankruptcy data against this company |
Court data
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There is no data for this company |
SHARE & SHARE CAPITAL
INFORMATION
Minority
Shareholders
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No minority shareholders found |
Minority Interests
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No minority interests found |
PAYMENT INFORMATION
Payment
expectations
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Past payments |
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Payment
expectation days |
- |
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Industry
average payment expectation days |
171.25 |
Industry
average day sales outstanding |
489.53 |
Industry
comparison
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Activity
code |
46480 |
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Activity
description |
Wholesale of watches and jewellery |
Industry comparison
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Activity
code |
46480 |
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Activity
description |
Wholesale of watches and jewellery |
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Industry
average payment expectation days |
171.25 |
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Industry
average day sales outstanding |
489.53 |
Industry quartile
analysis
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Payment
expectations |
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Company
result |
- |
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Lower |
117.89 |
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Median |
54.06 |
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Upper |
16.60 |
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Day
sales outstanding |
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Company
result |
- |
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Lower |
113.92 |
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Median |
50.02 |
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Upper |
16.22 |
GROUP STRUCTURE & AFFILIATED
COMPANIES
Summary
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Group - Number of Companies |
0 |
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Linkages - Number of Companies |
0 |
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Number of Countries |
0 |
Group Structure
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No group structure for this company. |
FINANCIAL INFORMATION
Accounts
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No key
Financials Registered |
Ratio analysis
There are no accounts on file for this company
ADDITIONAL INFORMATION
Joint Industrial Committee (JIC)
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NOTES & COMMENTS
Commentary
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No employees are recorded for this business. |
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The business has been at the address for over 13 months. |
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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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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 –
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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.
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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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.10 |
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UK Pound |
1 |
Rs.101.27 |
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Euro |
1 |
Rs.85.43 |
INFORMATION DETAILS
|
Report
Prepared by : |
MNL |
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 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.