|
Report Date : |
18.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
KULTAKESKUS OY |
|
|
|
|
Formerly Known As : |
HOPEAKESKUS OY |
|
|
|
|
Registered Office : |
Paroistentie 2, Hämeenlinna 13600 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
2011 |
|
|
|
|
Date of Incorporation : |
18.07.1975 |
|
|
|
|
Com. Reg. No.: |
04149419 |
|
|
|
|
Legal Form : |
Limited company |
|
|
|
|
Line of Business : |
·
Wholesale of watches and jewellery ·
The Subject Line of Business also includes
diamond jewellery. |
|
|
|
|
No. of Employees : |
95 |
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) |
|
|
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Finland has a highly industrialized, largely free-market economy
with per capita output almost as high as that of Austria, Belgium, the
Netherlands, and Sweden. Trade is important with exports accounting for over
one third of GDP in recent years. Finland is strongly competitive in
manufacturing - principally the wood, metals, engineering, telecommunications,
and electronics industries. Finland excels in high-tech exports such as mobile
phones. Except for timber and several minerals, Finland depends on imports of
raw materials, energy, and some components for manufactured goods. Because of
the climate, agricultural development is limited to maintaining
self-sufficiency in basic products. Forestry, an important export earner,
provides a secondary occupation for the rural population. Finland had been one
of the best performing economies within the EU in recent years and its banks
and financial markets avoided the worst of global financial crisis. However,
the world slowdown hit exports and domestic demand hard in 2009, with Finland
experiencing one of the deepest contractions in the euro zone. A recovery of
exports, domestic trade, and household consumption stimulated economic growth
in 2010-11. The recession affected general government finances and the debt
ratio, turning previously strong budget surpluses into deficits, but Finland
has taken action to ensure it will meet EU deficit targets by 2013 and retains
its triple-A credit rating. Finland's main challenge in 2013 will be to
stimulate growth in the face of weak demand in EU export markets and government
austerity measures meant to reduce its budget deficit. Longer-term, Finland
must address a rapidly aging population and decreasing productivity that
threaten competitiveness, fiscal sustainability, and economic growth.
|
Source
: CIA |
Company Name KULTAKESKUS OY
Company Registration Number 04149419
Country FI Number FI00768787
Activity Code 46480
Activity Description Wholesale of
watches and jewellery
Company Status Active
Latest Turnover 19,051,000.00
(EUR)
Activities
Activity Code 46480
Activity Description Wholesale of
watches and jewellery
Previous Name
HOPEAKESKUS
OY
Company Name Kultakeskus Oy
Registered Company Name Kultakeskus Oy
Company Registration Number 04149419
Country FI
VAT Registration Number
04149419
VAT Registration Date 01/06/1994
Date of Company Registration 18/07/1975
Date of Starting Operations 18/07/1975
Commercial Court Legal Form Limited company
Type of Ownership Company Status
Active
Principal Activity Code 46480
Principal Activity Description Wholesale of
watches and jewellery
Contact Telephone Number
0365711
Other Addresses
Address Paroistentie 2, HÄMEENLINNA
13600
Address HÄMEENLINNA 13101
Web Addresses www.kultakeskus.fi
Name Ruohola Ilkka
Olavi
Date of Birth 30/05/1957
Position Managing director
Name Kotilainen Mika
Harri
Date of Birth 04/05/1962
Position Actual Member of
Board
Date Appointed 05/06/2013
Name Heikkilä Jaakko
Matti
Date of Birth 10/12/2026
Position Chairman of Board
Date Appointed 05/06/2013
Issued Share capital 2,523.00 (EUR)
Company Name Registration
Number Status Last Financials
1 Kultakeskus Oy 04149419
Active 31/12/2011
2 Kiinteistö Oy Kultakino
07611912 Active
Affiliate Name Kiinteistö Oy
Kultakino
Affiliate ID FI014/X/07611912
Country FI
Year 2011
Number of Employees 95
Year 2010
Number of Employees 82
Year 2009
Number of Employees 85
Year
2008
Number of Employees 92
Profit & Loss
Financial Year 2011 2010 2009
Number of Weeks 52 52 52
Currency EUR EUR EUR
Revenue 19,051,000.00 16,915,000.00 14,619,000.00
Profit After Tax 1,243,000.00 741,000.00 530,000.00
Balance Sheet
Financial Year 2011 2010 2009
Number of Weeks 52 52 52
Currency EUR EUR EUR
Total Assets 18,612,470.00
18,194,280.00 16,734,270.00
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.61.58 |
|
|
1 |
Rs.98.51 |
|
Euro |
1 |
Rs.83.49 |
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.