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Report Date : |
13.03.2013 |
IDENTIFICATION DETAILS
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Name : |
CARMEN JEWELLERY DESIGN TOO |
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Registered Office : |
Syunbaya Street 66/2, Zhetysuskiy District, Almaty 050050 |
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Country : |
Kazakhstan |
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Date of Incorporation : |
02.07.2007 |
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Com. Reg. No.: |
30436 (issue date: 24/12/2009) |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading as importers, retailers and distributors of jewellery products including diamonds and gold |
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No. of Employees : |
09 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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) |
|
Kazakhstan |
B1 |
B1 |
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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 |
kazakhstan - ECONOMIC OVERVIEW
Kazakhstan, geographically the largest of the former Soviet republics, excluding Russia, possesses enormous fossil fuel reserves and plentiful supplies of other minerals and metals, such as uranium, copper, and zinc. It also has a large agricultural sector featuring livestock and grain. In 2002 Kazakhstan became the first country in the former Soviet Union to receive an investment-grade credit rating. Kazakhstan's economy has largely recovered from the global financial crisis of 2008, and GDP increased 7% year-on-year in 2011. Extractive industries have been and will continue to be the engine of this growth. Landlocked, with restricted access to the high seas, Kazakhstan relies on its neighbors to export its products, especially oil and grain. Although its Caspian Sea ports, pipelines, and rail lines carrying oil have been upgraded, civil aviation and roadways have been neglected. Telecoms are improving, but require considerable investment, as does the information technology base. Supply and distribution of electricity can be erratic because of regional dependencies. At the end of 2007, global financial markets froze up and the loss of capital inflows to Kazakhstani banks caused a credit crunch. The subsequent and sharp fall of oil and commodity prices in 2008 aggravated the economic situation, and Kazakhstan plunged into recession. While the global financial crisis took a significant toll on Kazakhstan's economy, it has rebounded well. In response to the crisis, Kazakhstan's government devalued the tenge (Kazakhstan's currency) to stabilize market pressures and injected around $10 billion in economic stimulus. Rising commodity prices have helped revive Kazakhstan's economy, which registered roughly 7% growth in 2010-11. Despite solid macroeconomic indicators, the government realizes that its economy suffers from an overreliance on oil and extractive industries, the so-called "Dutch disease." In response, Kazakhstan has embarked on an ambitious diversification program, aimed at developing targeted sectors like transport, pharmaceuticals, telecommunications, petrochemicals and food processing. In 2010 Kazakhstan joined the Belarus-Kazakhstan-Russia Customs Union in an effort to boost foreign investment and improve trade relationships. The government expects to join the World Trade Organization in 2012, which should also help to develop the manufacturing and service sector base.
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Source : CIA |
CARMEN Jewellery
Design TOO (Correct)
Carmen Jewellery
Design (Requested)
Street : Furmanova Street 44
Town : Almaty
Country : Kazakhstan
Mobile : (7 702) 198 9999 / (7 701) 566 8565
E-Mail : l--ika@hotmail.com
Extended Name : CARMEN Jewellery Design Tovarishchestvo s Ogranichennoy Otvetstvennostyu
English Translation : CARMEN jewellery design LLP
Also known as : CARMEN jewellery design ZhShS
Name Position
Paz Miri Managing Director
Total Employees : 9
No complaints have been heard regarding payments from local suppliers or banks.
We consider it is acceptable to deal with subject for SMALL amounts, however in view of the lack of financial information we recommend international suppliers exercise a degree of caution.
Trade risk assessment: Above Average
It is normal accepted practice for international suppliers to deal on secured terms with Kazakhstani importers.
NAME : BANK TSENTR KREDIT AO
Branch : Bogenbay Batyra Street 248
Town : Almaty 050000
Telephone: (7 727) 263 0493 / 263 4531
Fax : (7 727) 250 9496 / 250 7813
Acc. No. : KZ188560000000458576 (353467490)
Acc. No. : KZ888560000000458577 (352070192)
BIK : KCJBKZKX (190501719)
Tax No. : RNN 600700033173 (600300022316)
The company also has an account with :
Alyans Bank AO
Zhibek Zholy Street 50
Almaty 050044
Telephone: (7 727) 258 4040
Fax : (7 727) 258 4040
Acc. No. : KZ349650000040285241 (040285241)
Acc. No. : KZ249650000040298225 (040298225) (038369782)
Acc. No. : (038369782)
Acc. No. : (038446061)
Acc. No. : (030173504)
Acc. No. : (030173106)
BIK : IRTYKZKA (190501794)
Tax No. : RNN 451800015025 (600400083256)
Private companies in Kazakhstan are not required to publish or disclose balance sheets. Balance sheets are not available from other sources, and the subject interviewed declined to give any financial information, which the company regards as strictly confidential.
Date Started : 2 July 2007
C.R. No. : 30436 (issue date: 24/12/2009)
Former C.R. No.: 86661-1910-ТОО (IU) (issued on: 02/07/2007)
Tax No.: RNN 600500566427
Business Identification No.: BIN 070740011706
Statistics No.: OKPO 41119991
VAT No.: Series 60001, No. 0030358 (issued on 25/12/2009)
Authorised Capital : TENGE 109,200
Paid-Up Capital : TENGE 109,200
Tovarishchestvo s Ogranichennoy Otvetstvennostyu (limited liability company) with the following sole shareholder :
Paz Miri 100%
(Israeli national / Tax No. RNN 600920343000 / Personal No.:
11240401, issued on 8 August 2006)
Affiliated companies of the subject company
:
Associates
1. CARMEN
Nikolskiy Passazh Trade Center
Vetoshniy pereulok 9
Moscow
Russia
Telephone : (7 495) 745 5232 / (7 985) 148 4956
2. Facet Jewellery Solutions S.L.
Barcelona
Spain
The Company is involved in the following activities :
Trading as importers, retailers and distributors of jewellery products including diamonds and gold.
NACE Code : 4777
Imports from India.
Subject does not export, all sales are domestic.
The Company has the following facilities :
Premises comprising administrative offices and a retail outlet located at the heading address as well as one retail outlet located in Astana.
Syunbaya Street 66/2
Zhetysuskiy District
Almaty 050050
You enquired on: Carmen Jewellery Design. Please note that the correct name is as per heading.
Interviewed: Paz Miri (Managing Director).
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.54.34 |
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UK Pound |
1 |
Rs.80.89 |
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Euro |
1 |
Rs.70.73 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
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.