MIRA
INFORM REPORT
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Report Date : |
23.01.2013 |
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 : |
Italy |
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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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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 : |
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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Italy |
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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UK SIC 2003: |
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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
Boston Globe (MA)
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 Hingham, Shrine at Foxwoods,
and more. 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 Paris.
"Welcome to the opulence of GEM,� says its website. 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 Marsala, burgers, and roasted sea bass with miso and pea leaf salad.
The cocktail menu ranges from creations like the Pink Lace martini
(strawberry and blueberry vodka with strawberries and sugar lace) to Sazeracs
and Aviations. Wine drinkers will find a few appropriately opulent bottles on
the list. GEM may be
designed as a small jewel, but Big Night generally thinks big. A Pan-Asian
restaurant called Empire is planned for the Boston waterfront this summer.
Expect to see more from these restaurateurs. Devra First Devra First can
be reached at dfirst@globe.com.
Follow her on Twitter @devrafirst. |
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STYX LAUNCH JEWELLERY COLLECTION
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 STYX have developed a new gem line with jewellery
designer DIANA WARNER. Tommy Shaw's
Come Sail Away hitmakers have created the Diana Warner for STYX collection,
which has gone on sale via the band's website. 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 STYX's fans that's
worlds different than anything we've done before." (KL/WN/MT) |
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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 – 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.53.51 |
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1 |
Rs.84.85 |
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Euro |
1 |
Rs.71.43 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.