MIRA INFORM REPORT
|
Report Date : |
19.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
KRIEGER DIAMONDS |
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Registered Office : |
104 100 Hatton Garden London EC1N 8NX |
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Country : |
United Kingdom |
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Date of Incorporation : |
01.01.1977 |
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Legal Form : |
Proprietor |
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Line of Business : |
Manufacture of diamond cutters merchants and polishers |
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No. of Employees : |
05 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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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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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
United Kingdom |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
UNITED KINGDOM - ECONOMIC OVERVIEW
The UK, a leading trading power and financial center, is the
second largest economy in Europe after Germany. Over the past two decades, the
government has greatly reduced public ownership and contained the growth of
social welfare programs. Agriculture is intensive, highly mechanized, and
efficient by European standards, producing about 60% of food needs with less
than 2% of the labor force. The UK has large coal, natural gas, and oil
resources, but its oil and natural gas reserves are declining and the UK became
a net importer of energy in 2005. Services, particularly banking, insurance,
and business services, account by far for the largest proportion of GDP while
industry continues to decline in importance. After emerging from recession in
1992, Britain's economy enjoyed the longest period of expansion on record
during which time growth outpaced most of Western Europe. In 2008, however, the
global financial crisis hit the economy particularly hard, due to the
importance of its financial sector. Sharply declining home prices, high
consumer debt, and the global economic slowdown compounded Britain's economic
problems, pushing the economy into recession in the latter half of 2008 and
prompting the then BROWN (Labour) government to implement a number of measures
to stimulate the economy and stabilize the financial markets; these include
nationalizing parts of the banking system, temporarily cutting taxes,
suspending public sector borrowing rules, and moving forward public spending on
capital projects. Facing burgeoning public deficits and debt levels, in 2010
the CAMERON-led coalition government (between Conservatives and Liberal
Democrats) initiated a five-year austerity program, which aimed to lower
London's budget deficit from over 10% of GDP in 2010 to nearly 1% by 2015. In
November 2011, Chancellor of the Exchequer George OSBORNE announced additional
austerity measures through 2017 because of slower-than-expected economic growth
and the impact of the euro-zone debt crisis. The CAMERON government raised the
value added tax from 17.5% to 20% in 2011. It has pledged to reduce the
corporation tax rate to 21% by 2014. The Bank of England (BoE) implemented an
asset purchase program of up to £375 billion (approximately $605 billion) as of
December 2012. During times of economic crisis, the BoE coordinates interest
rate moves with the European Central Bank, but Britain remains outside the
European Economic and Monetary Union (EMU). In 2012, weak consumer spending and
subdued business investment weighed on the economy. GDP fell 0.1%, and the
budget deficit remained stubbornly high at 7.7% of GDP. Public debt continued
to increase
Source
: CIA
REGISTERED
NAME & COMPANY SUMMARY
KRIEGER DIAMONDS
|
Trading Address |
104 100 HATTON GARDEN |
Senior Executive |
MR ARI KRIEGER |
|
|
LONDON |
Position |
PROPRIETOR |
|
|
|
Date At Address |
01/01/1977 |
|
Post Code |
EC1N 8NX |
Number of Employees |
5 |
|
Telephone Number |
020 7831 3933 - View
Details |
Premises Type |
Manufacturing |
|
TPS |
N |
Business Classification |
DIAMOND CUTTERS MERCHANTS AND POLISHERS |
|
Fax Number |
020 7821 3549 |
SIC03 |
36220 |
|
FPS |
N |
SIC03 Description |
Manufacture of jewellery and related articles not
elsewhere classified |
|
Website Address |
- |
|
|
DIRECTORS/MANAGEMENT
N/a
NEGATIVE
INFORMATION
Bankruptcy
Information
Exact Name &
Address
|
Bankrupt |
No |
Exact Address Match
|
Bankrupt |
No |
Exact Name Match
|
Bankrupt |
No |
CCJ Details
Exact CCJ Details
|
No CCJ`s Found |
Possible Address CCJ
Details
|
No CCJ`s Found |
Possible Name CCJ
Details
|
No CCJ`s Found |
SHARE
& SHARE CAPITAL INFORMATION
N/a
PAYMENT
INFORMATION
|
Days Beyond Terms |
Trend Indicator |
Average
Payment Experience |
|
||||
|
Steady   Improving Worsening |
|
|
|
There is currently no payment data for this company. |
GROUP
STRUCTURE & AFFILIATED COMPANIES
N/a
FINANCIAL
INFORMATION
N/a
FOREIGN
EXCHANGE RATES
N/a
ADDITIONAL
INFORMATION
Other Limited Companies which match this Company Name & Address - 0 Results found
|
- |
Other Non Limited Companies which match this Company Name & Address - 1 Result found
|
104 100 HATTON GARDEN LONDON EC1N 8NX |
EC1N 8NX |
Other Companies which match this Company Address - 0 Results found
|
- |
Other Limited Companies which match this Company Name - 0 Results found
|
- |
Other Non Limited Companies which match this Company Name - 1 Result found
|
104 100 HATTON GARDEN LONDON EC1N 8NX |
EC1N 8NX |
Directors last filed addresses which have been matched to this company’s postcode - 0 Results found
|
- |
Other Companies that match this Telephone Number - 0 Results found
This company has been
matched to SIC Code 3622 classified as Manufacture of jewellery and
related articles not elsewhere classified
There are 1037 companies within this classification.
Average Credit Rating
|
SIC03 |
Newly Incorporated |
Small Companies |
Medium to Large Companies |
|
3622 |
|
|
|
Average Credit Limit
|
SIC03 |
Newly Incorporated |
Small Companies |
Medium to Large Companies |
|
3622 |
£117 |
£11,068 |
£254,111 |
Total number &
value of CCJ’s in this SIC03
|
SIC03 |
CCJ`s |
Value |
|
3622 |
49 |
£229,750 |
Total number of
Negative Events in this SIC03
|
SIC03 |
Bankruptcy |
Administration |
Liquidation |
Wound Up |
|
3622 |
0 |
6 |
33 |
|
NOTES
& COMMENTS
Commentary
|
No exact match CCJs are recorded against the company. |
|
|
The business has been at the address for over 34 years. |
|
|
The business has 3 employee(s). |
|
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.
-
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.
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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.
-
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.
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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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.63 |
|
|
1 |
Rs.101.06 |
|
Euro |
1 |
Rs.84.56 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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.