|
Report Date : |
28.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
BROWNS THE DIAMOND STORE (PTY)LTD |
|
|
|
|
Formerly Known as : |
BOWNS THE DIAMOND STORE CC |
|
|
|
|
Registered Office : |
105 Conrad Driveblairgowriejohannesburg |
|
|
|
|
Country : |
South Africa |
|
|
|
|
Date of Incorporation : |
29.04.2013 |
|
|
|
|
Com. Reg. No.: |
K2013/073395/07 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
LINE OF BUSINESS : |
THE
SUBJECTS MAIN OPERATION IS TO MANUFACTURE JEWELERY SUCH AS NECKLACES, PENDANTS,
RINGS, BRACELETS, EARRINGS, ETERNITY BANDS AND CHARMS |
|
|
|
|
No. of Employees : |
300 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
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) |
|
South Africa |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
SOUTH AFRICA -
ECONOMIC OVERVIEW
South Africa is a middle-income, emerging market with an
abundant supply of natural resources; well-developed financial, legal,
communications, energy, and transport sectors and a stock exchange that is the
15th largest in the world. Even though the country possesses modern
infrastructure that support a relatively efficient distribution of goods to
major urban centers throughout the region, some components retard growth. The
economy began to slow in the second half of 2007 due to an electricity crisis.
State power supplier Eskom encountered problems with aging plants and meeting
electricity demand necessitating "load-shedding" cuts in 2007 and
2008 to residents and businesses in the major cities. Subsequently, the global
financial crisis reduced commodity prices and world demand. GDP fell nearly 2%
in 2009 but has recovered since then. Unemployment, poverty, and inequality
remain a challenge, with official unemployment at nearly 25% of the work force.
Eskom has built two new power stations and installed new power demand
management programs to improve power grid reliability. South Africa's economic
policy has focused on controlling inflation, however, the country has had
significant budget deficits that restrict its ability to deal with pressing
economic problems. The current government faces growing pressure from special
interest groups to use state-owned enterprises to deliver basic services to
low-income areas and to increase job growth.
|
Source
: CIA |
|
Subject Name |
BROWNS THE DIAMOND STORE CC |
|
Country |
South Africa |
|
Subject Contact Person |
GAVIN BROWN-Director |
|
Assessment |
This is a well-established business. On
investigation we made contact with GAVIN BROWN the Director who assisted with
most of the required information,howver declined to assist with any
financials.The subject is meeting commitments timeously with suppliers.We
obatined a bank code C for R 4000 000 over a period of 30 days.Please see the
available information on the subject below. |
|
Registered Name |
BROWNS THE DIAMOND STORE (PTY)LTD |
|
Trading as/ Division Name |
BROWNS THE DIAMOND STORE |
|
Previous Name |
BOWNS THE DIAMOND STORE CC |
|
Date of Name Change |
May 30 2003 12:00AM |
|
Registration Number |
K2013/073395/07 |
|
Registration Date |
2013/04/29 |
|
Date Commenced Trading |
2013-04-29 |
|
Age of Business |
7 Months |
|
History of Business |
The subject was established in 2002 as a CC
and in 2013 the subject was converted into a (PTY)LTD |
|
History of Principals |
There is currently 3 active directors
within the subject. |
|
Shareholders/Members/Partners of subject
and % holding |
44.4%- LAWRENCE ALON BROWN29.7%- GAVIN WAYNE
BROWN25.9%- THE BRAVURA TRUST |
|
Authorised Share Capital |
R 0.00 |
|
Issued Share Capital/Members Contribution |
R 0.00 |
|
Status |
In Business |
|
Operations Assessment |
The subjects main operation is to manufacture
jewelery such as Necklaces,Pendants,Rings, bracelets,earrings,eternity bands
and charms |
|
Industry/ Customers |
The general public |
|
Export |
Yes |
|
Major Industry Code / SICC |
39211 |
|
Definition of Code |
Jewellery and related articles of precious
and semiprecious compounts |
|
Head Office Physical Address |
105 CONRAD DRIVEBLAIRGOWRIEJOHANNESBURG |
|
Head Office Postal Address |
P O BOX 782992 SANDTON2146 |
|
Current Tel Number |
0114387920 |
|
Cell Number |
None |
|
Current Fax Number |
0866411765 |
|
Current Email Address |
|
|
Web Site Address |
|
|
Comments |
|
|
Company Registered Name |
RWFC FINANCIAL CONSULTANTS INCORPORATED |
|
Trading Name |
RWFC FINANCIAL CONSULTANTS |
|
Registration Number |
2001/000693/21 |
|
Physical Address |
Garrun Building33 Central StreetHoughton
Estate2198 |
|
Postal Address |
P O BOX 1364HOUGHTON 2041 |
|
Contact Person |
RIDWAAN |
|
Contact Number |
0114833333 |
|
Email |
|
|
Principals |
3 |
|
Judgements Against Subject |
No found on file |
|
Judgements Against Principals |
No found on file |
|
Subject Verified as Client |
Yes |
|
Practice Number |
900397 |
|
VAT Number |
4060194109 |
|
Tax Number |
9389114142 |
|
BEE Status |
Unavailable |
|
Financial Year End |
February |
|
No of years in Business |
10 Years 6 Months |
|
Website |
|
|
Comment |
|
Previous Auditors Information - No
Information on Record
|
Vat Number |
4820207076 |
|
Status |
ACTIVE |
|
Vat Liable Date |
2003/07/01 |
|
Tax Number |
9039824157 |
|
Tax Clearance Expire Date |
|
|
Financial Year End |
February |
|
Comment |
|
|
Black Economic Empowerment |
|
|
Status |
|
|
Score |
|
|
Expire Date |
|
|
BEE Certificate Available |
|
|
Comment |
|
|
ISO Status |
|
|
Type of ISO Grade |
|
|
ISO Certificate |
|
|
ISO Certificate Available |
|
|
Certified by an Accredited Agent |
|
|
Comment |
|
|
Workman's compensation |
|
|
Registered |
Yes |
|
Compliance Certified |
Yes |
|
Comment |
|
Subsidiaries
|
Subsidiary Company |
There are no reported subsidiairies of the
company |
|||
|
Shareholding |
|
|||
|
Registration Number |
|
|||
|
Import / Export |
|
|||
|
Comment |
|
|||
|
Employees |
||||
|
Number of Employees |
300 |
|||
|
1. Salaried employees |
300 |
|||
|
2. Waged employees |
|
|||
|
3. Permanent employees |
300 |
|||
|
4. Casual employees |
|
|||
|
5. Contracted employees |
|
|||
|
Comment |
|
|||
|
Company Fleet |
||||
|
Company Fleet |
No of vehicles: |
Ownerd/Leased |
Value |
Outstanding Balance |
|
Fleet Operations |
|
|
|
|
|
The Fleet is made up of |
4 |
|||
|
Comment |
|
|||
|
Light delivery Vehicles |
4 |
Owned |
|
|
|
Offices |
Offices |
|
|
Head Office Owned/ Rented |
Leased |
|
|
Rental Company |
Kimberly House (PTY) LTD |
|
|
Owned by |
|
|
|
Value |
|
|
|
Bond |
|
|
|
Bank |
|
|
|
Lease Agreement |
None |
|
|
Lease Expire Date |
|
|
|
Type of Premises |
Office blocks |
|
|
Comment |
|
|
|
Branch Information |
||
|
Branches Names |
Country |
Province |
|
|
|
|
|
Branch Detail Information |
||
|
Branches Owned/ Rented |
|
|
|
Rental Company |
|
|
|
Owned by |
|
|
|
Value |
|
|
|
Bond |
|
|
|
Bank |
|
|
|
Lease Agreement |
|
|
|
Lease Expire Date |
|
|
|
Type of Premises |
|
|
|
Comment |
The subject has more than 30 branches
across South Africa... |
|
Organisation
Chart
|
Level |
Position |
Name |
Comment |
1 DIRECTOR LAWRENCE ALON BROWN
1 DIRECTOR GAVIN WAYNE BROWN
1 DIRECTOR BO LEIN BROWN
Company Structure (Ownership)
|
Holding |
Company |
Sub |
Comment |
|
40%-GAVIN BROWN |
BROWNS THE DIAMOND STORE CC |
|
|
Note: One level up and all levels down
Key Deals - No Information on Record
|
Trade
Reference nr |
Supplier |
Contact |
Surety
Value |
Notarial
Bonds |
Comment |
|
1 |
BRINKS GLOBAL |
0113922006 |
|
|
|
|
2 |
INTERGRATED SYSTEMS CONSULTING |
0126632748 |
|
|
|
|
3 |
JOHNSON MATTHEY |
0113458724 |
|
|
|
Trade References Detail
|
Nr |
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
1 |
8 Years |
|
|
30 Days |
R 4000000 |
30 Days |
Good account, the subject has an open
credit limit with the supplier |
|
2 |
6 Years |
|
|
30 Days |
R1500000 |
30 Days |
Good account, the subject has an open
credit limit with the supplier |
|
3 |
4 Years |
|
R 3000000 |
|
R 3000000 |
|
Good account, the subject is on Cash on
Delivery terms with the supplier... |
Judgements - No information on record
Business Rescue
|
Date
registered |
Business
rescue practitioner |
Contact
Information |
Details |
Comment |
|
|
THERE IS NO INFORMATION FOUND ON FILE |
No Information on Record |
No Information on Record |
No Information on Record |
Default Listing - No information on record
Notarial Bonds
|
Date |
Details |
Comment |
|
|
THERE IS NO INFORMATION FOUND ON FILE |
No Information on Record |
|
Bank |
NEDBANK |
|
Branch |
BUSINESS CENTRAL GAUTENG |
|
Brach Code |
198765 |
|
Bank Account Number |
1284085775 |
|
Type of Account |
CURRENT ACCOUNT |
|
Account Name |
BROWNS THE DIAMOND STORE CC |
|
Overdraft Facilities |
NONE |
|
Bank Code |
C - For R 4000000 |
|
Bank Comment |
The subject's bankers consider them good
for all business normal engagements |
Bank Code History - No Information on Record
Previous Bank Account Information - No
Information on Record
Property Interests for Company BROWNS THE
DIAMOND STORE CC
|
Title Deed No. |
ST30061/2008 |
Erf/Site No. |
167803,0 |
|
Deeds Office |
CAPE TOWN |
Physical Address |
V & A WATERFRONT CAPE TOWN |
|
Property Type |
Sectional Title |
Extent / Size |
7.0SQM |
|
Purchase Date |
2008/07/18 |
Purchase price |
|
|
% Ownership |
0.00 |
Bond Holder |
|
|
Bond Number |
K11162007S |
Bond Amount |
|
|
Comment |
|
||
|
|
|||
|
Title Deed No. |
ST30061/2008 |
Erf/Site No. |
167803,0 |
|
Deeds Office |
CAPE TOWN |
Physical Address |
V & A WATERFRONT CAPE TOWN |
|
Property Type |
Sectional Title |
Extent / Size |
7.0SQM |
|
Purchase Date |
2008/07/18 |
Purchase price |
|
|
% Ownership |
0.00 |
Bond Holder |
|
|
Bond Number |
K11172007S |
Bond Amount |
|
|
Comment |
|
||
|
Title Deed No. |
ST30061/2008 |
Erf/Site No. |
167803,0 |
|
Deeds Office |
CAPE TOWN |
Physical Address |
V & A WATERFRONT CAPE TOWN |
|
Property Type |
Sectional Title |
Extent / Size |
7.0SQM |
|
Purchase Date |
2008/07/18 |
Purchase price |
|
|
% Ownership |
0.00 |
Bond Holder |
|
|
Bond Number |
K11162007S |
Bond Amount |
|
|
Comment |
|
||
|
|
|||
|
Title Deed No. |
ST30061/2008 |
Erf/Site No. |
167803,0 |
|
Deeds Office |
CAPE TOWN |
Physical Address |
V & A WATERFRONT CAPE TOWN |
|
Property Type |
Sectional Title |
Extent / Size |
7.0SQM |
|
Purchase Date |
2008/07/18 |
Purchase price |
|
|
% Ownership |
0.00 |
Bond Holder |
|
|
Bond Number |
K11162007S |
Bond Amount |
|
|
Comment |
|
||
|
|
|||
|
Title Deed No. |
ST30061/2008 |
Erf/Site No. |
167803,0 |
|
Deeds Office |
CAPE TOWN |
Physical Address |
V & A WATERFRONT CAPE TOWN |
|
Property Type |
Sectional Title |
Extent / Size |
13.0SQM |
|
Purchase Date |
2008/07/18 |
Purchase price |
|
|
% Ownership |
0.00 |
Bond Holder |
|
|
Bond Number |
K11162007S |
Bond Amount |
|
|
Comment |
|
||
|
Title Deed No. |
ST30061/2008 |
Erf/Site No. |
167803,0 |
|
Deeds Office |
CAPE TOWN |
Physical Address |
V & A WATERFRONT CAPE TOWN |
|
Property Type |
Sectional Title |
Extent / Size |
13.0SQM |
|
Purchase Date |
2008/07/18 |
Purchase price |
|
|
% Ownership |
0.00 |
Bond Holder |
|
|
Bond Number |
K11172007S |
Bond Amount |
|
|
Comment |
|
||
|
Title Deed No. |
ST30061/2008 |
Erf/Site No. |
167803,0 |
|
Deeds Office |
CAPE TOWN |
Physical Address |
V & A WATERFRONT CAPE TOWN |
|
Property Type |
Sectional Title |
Extent / Size |
13.0SQM |
|
Purchase Date |
2008/07/18 |
Purchase price |
|
|
% Ownership |
0.00 |
Bond Holder |
|
|
Bond Number |
K11162007S |
Bond Amount |
|
|
Comment |
|
||
|
Title Deed No. |
ST30061/2008 |
Erf/Site No. |
167803,0 |
|
Deeds Office |
CAPE TOWN |
Physical Address |
V & A WATERFRONT CAPE TOWN |
|
Property Type |
Sectional Title |
Extent / Size |
13.0SQM |
|
Purchase Date |
2008/07/18 |
Purchase price |
|
|
% Ownership |
0.00 |
Bond Holder |
|
|
Bond Number |
K11162007S |
Bond Amount |
|
|
Comment |
|
||
|
|
|||
|
Title Deed No. |
ST30061/2008 |
Erf/Site No. |
167803,0 |
|
Deeds Office |
CAPE TOWN |
Physical Address |
V & A WATERFRONT CAPE TOWN |
|
Property Type |
Sectional Title |
Extent / Size |
12.0SQM |
|
Purchase Date |
2008/07/18 |
Purchase price |
|
|
% Ownership |
0.00 |
Bond Holder |
|
|
Bond Number |
K11162007S |
Bond Amount |
|
|
Comment |
|
||
|
|
|||
|
Title Deed No. |
ST30061/2008 |
Erf/Site No. |
167803,0 |
|
Deeds Office |
CAPE TOWN |
Physical Address |
V & A WATERFRONT CAPE TOWN |
|
Property Type |
Sectional Title |
Extent / Size |
12.0SQM |
|
Purchase Date |
2008/07/18 |
Purchase price |
|
|
% Ownership |
0.00 |
Bond Holder |
|
|
Bond Number |
K11172007S |
Bond Amount |
|
|
Comment |
|
||
|
Title Deed No. |
ST30061/2008 |
Erf/Site No. |
167803,0 |
|
Deeds Office |
CAPE TOWN |
Physical Address |
V & A WATERFRONT CAPE TOWN |
|
Property Type |
Sectional Title |
Extent / Size |
12.0SQM |
|
Purchase Date |
2008/07/18 |
Purchase price |
|
|
% Ownership |
0.00 |
Bond Holder |
|
|
Bond Number |
K11162007S |
Bond Amount |
|
|
Comment |
|
||
|
Title Deed No. |
ST30061/2008 |
Erf/Site No. |
167803,0 |
|
Deeds Office |
CAPE TOWN |
Physical Address |
V & A WATERFRONT CAPE TOWN |
|
Property Type |
Sectional Title |
Extent / Size |
12.0SQM |
|
Purchase Date |
2008/07/18 |
Purchase price |
|
|
% Ownership |
0.00 |
Bond Holder |
|
|
Bond Number |
K11162007S |
Bond Amount |
|
|
Comment |
|
||
|
Title Deed No. |
ST30061/2008 |
Erf/Site No. |
167803,0 |
|
Deeds Office |
CAPE TOWN |
Physical Address |
V & A WATERFRONT CAPE TOWN |
|
Property Type |
Sectional Title |
Extent / Size |
271.0SQM |
|
Purchase Date |
2008/07/18 |
Purchase price |
|
|
% Ownership |
0.00 |
Bond Holder |
|
|
Bond Number |
K11162007S |
Bond Amount |
|
|
Comment |
|
||
|
|
|||
|
Title Deed No. |
ST30061/2008 |
Erf/Site No. |
167803,0 |
|
Deeds Office |
CAPE TOWN |
Physical Address |
V & A WATERFRONT CAPE TOWN |
|
Property Type |
Sectional Title |
Extent / Size |
271.0SQM |
|
Purchase Date |
2008/07/18 |
Purchase price |
|
|
% Ownership |
0.00 |
Bond Holder |
|
|
Bond Number |
K11172007S |
Bond Amount |
|
|
Comment |
|
||
|
|
|||
|
Title Deed No. |
ST30061/2008 |
Erf/Site No. |
167803,0 |
|
Deeds Office |
CAPE TOWN |
Physical Address |
V & A WATERFRONT CAPE TOWN |
|
Property Type |
Sectional Title |
Extent / Size |
271.0SQM |
|
Purchase Date |
2008/07/18 |
Purchase price |
|
|
% Ownership |
0.00 |
Bond Holder |
|
|
Bond Number |
K11162007S |
Bond Amount |
|
|
Comment |
|
||
|
Title Deed No. |
ST30061/2008 |
Erf/Site No. |
167803,0 |
|
Deeds Office |
CAPE TOWN |
Physical Address |
V & A WATERFRONT CAPE TOWN |
|
Property Type |
Sectional Title |
Extent / Size |
271.0SQM |
|
Purchase Date |
2008/07/18 |
Purchase price |
|
|
% Ownership |
0.00 |
Bond Holder |
|
|
Bond Number |
K11162007S |
Bond Amount |
|
|
Comment |
|
||
|
Number of Principals |
2 |
|
Average Age of Active Principals |
44 |
|
Active Principals Principal - 1 of 3 LAWRENCE BROWN |
|
|
Surname |
BROWN |
|
First Name |
LAWRENCE |
|
Other Names |
NONE |
|
Marital Status |
|
|
ID Number |
6411065012083 |
|
Verified ID Number |
Yes |
|
Current Age |
49 Years |
|
Designation |
|
|
Status |
Active |
|
Appointment Date |
2013/04/29 |
|
Physical Address (at time of Appointment) |
5 OAKWOOD ESTATES, OAKLANDS ROAD, ATHOLL,
2196 |
|
Postal Address |
P O BOX 782992, SANDTON, 2146 |
|
Current Tel Number |
0114387920 |
|
Cell number |
|
|
Shareholding/Membership |
44°% |
Business Information for LAWRENCE BROWN
|
Company
Name |
Registration
No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
BROWNS THE DIAMOND STORE (PTY)LTD |
K2013/073395/07 |
In Business |
0 |
0 |
No |
|
|
GOLDSMITH AND SILVER JEWELLERY
MANUFACTURERS CC |
B2008/149749/23 |
In Business |
5 Years 5 Months |
0 |
No |
|
|
KIMBERLEY HOUSE JEWELLERS (PTY)LTD |
M2002/024060/07 |
In Business |
11 Years 11 Months |
0 |
No |
|
|
SANDTON JEWELLERY DESIGN CORPORATION CC |
B2002/004857/23 |
In Business |
11 Years 11 Months |
0 |
No |
|
Principal Current Business Interests
Average Age of
Previous Business 20
Years
|
Company
Name |
Registration
No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
BOXCORP SA MANUFACTURERS CC |
B1990/034260/23 |
Deregistration Final |
23 Years 11 Months |
0 |
No |
|
|
HYPERGOLD JEWELLERS (PTY)LTD |
M1997/015117/07 |
Deregistration Final |
16 Years 4 Months |
0 |
No |
|
|
LARRY AND GAVIN JEWELLERS CC |
B1990/018318/23 |
Deregistration Final |
23 Years 11 Months |
0 |
No |
|
Principal Deeds Information
Property
Interests for LAWRENCE BROWN
|
Title Deed No. |
ST42903/2007 |
Erf/Site No. |
575,8 |
|
Deeds Office |
PRETORIA |
Physical Address |
163 5TH SANDOWN SANDTON |
|
Property Type |
Sectional Title |
Extent / Size |
224.0SQM |
|
Purchase Date |
2006/08/19 |
Purchase price |
|
|
% Ownership |
0.00 |
Bond Holder |
|
|
Bond Number |
|
Bond Amount |
|
|
Comment |
|
||
Principal - 2 of 3
BO LIEN BROWN
|
Surname |
BROWN |
|
First Name |
BO LIEN |
|
Other Names |
NONE |
|
Marital Status |
|
|
ID Number |
7408080009085 |
|
Verified ID Number |
Yes |
|
Current Age |
39 Years 3 Months |
|
Designation |
BUSINESSPERSON |
|
Status |
Active |
|
Appointment Date |
2013/04/29 |
|
Physical Address (at time of Appointment) |
71A RULIN ROAD, HYDE PARK, 2194 |
|
Postal Address |
P O BOX 782992, SANDTON, 2146 |
|
Current Tel Number |
0112502000 |
|
Cell number |
0824176454 |
|
Shareholding/Membership |
0.00 |
Business Information for BO LIEN BROWN
Principal Current Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
BROWNS AIRSIDE CC |
B2007/197852/23 |
In Business |
6 Years 6 Months |
0 |
No |
|
|
BROWNS THE DIAMOND STORE (PTY)LTD |
K2013/073395/07 |
In Business |
0 |
0 |
No |
|
|
KIMBERLEY HOUSE AIRSIDE JEWELLERS CC |
B2010/099801/23 |
In Business |
3 Years 3 Months |
0 |
No |
|
Principal Previous Business Interests
Average Age of
Previous Business
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
|
|
|
|
|
|
|
Principal Deeds Information
Property
Interests for BO LIEN BROWN
|
Title Deed No. |
T6759/2010 |
Erf/Site No. |
|
|
Deeds Office |
PRETORIA |
Physical Address |
71 RULIN HYDE PARK SANDTON |
|
Property Type |
Freehold |
Extent / Size |
1220.0SQM |
|
Purchase Date |
2009/10/25 |
Purchase price |
|
|
% Ownership |
0.00 |
Bond Holder |
ODIERNA SAMANTHA LATROBE |
|
Bond Number |
VA30502009 |
Bond Amount |
|
|
Comment |
|
||
Principal - 3 of 3 GAVIN BROWN
|
Surname |
BROWN |
|
First Name |
GAVIN |
|
Other Names |
WAYNE |
|
Marital Status |
|
|
ID Number |
6811215022082 |
|
Verified ID Number |
Yes |
|
Current Age |
45 |
|
Designation |
DIRECTOR |
|
Status |
Active |
|
Appointment Date |
|
|
Physical Address (at time of Appointment) |
Riverside Road123A Atholl Fochville Centre |
|
Postal Address |
PO Box 782992Sandton2196 |
|
Current Tel Number |
0116668600 |
|
Cell number |
0824122668 |
|
Shareholding/Membership |
29.7% |
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.62.36 |
|
UK Pound |
1 |
Rs.101.11 |
|
Euro |
1 |
Rs.84.67 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.