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Report Date : |
05.09.2013 |
IDENTIFICATION DETAILS
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Name : |
KISMET DIAMONDS (PTY)LTD |
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Registered Office : |
5.A Jewellery Center, 3rd Floor Suite 308f, Johannesburg, Gauteng, 2094 |
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Country : |
South Africa |
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Date of Incorporation : |
14.11.2012 |
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Com. Reg. No.: |
K2012/203351/07 |
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Legal Form : |
Private Company |
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Line of Business : |
Subject is engaged in Diamond cutting and polishing |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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---- |
NB |
New Business |
---- |
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Status : |
New Business |
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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) |
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South Africa |
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 |
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. State power supplier 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.
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Source : CIA |
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Subject Name |
KISMET DIAMONDS (PTY)LTD |
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Country |
South Africa |
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Subject Contact Person |
ROSHAN DAYA |
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Assessment |
This is an established business. On investigation attempts made to contact the subject proved unsuccessful. We have been unable to contact the number 0722007437 as it remains unanswered. A message has been left on the number 0722007437, to date no reply has been forthcoming. Attempts to find further contact details have not been successful. Please see the available information on the subject below. |
|
Registered Name |
KISMET DIAMONDS (PTY)LTD |
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Trading as/ Division Name |
KISMET DIAMONDS |
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Previous Name |
None |
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Date of Name Change |
None |
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Registration Number |
K2012/203351/07 |
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Registration Date |
2012/11/14 |
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Date Commenced Trading |
2012-11-14 |
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Age of Business |
9 Months |
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History of Business |
The company was established in 2012. |
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History of Principals |
There is currently 1 active director within the company. |
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Shareholders/Members/Partners of subject and % holding |
Unavailable |
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Authorised Share Capital |
R0.00 |
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Issued Share Capital/Members Contribution |
R0.00 |
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Status |
In Business |
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Operations Assessment |
The subject operates within the diamond industry |
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Industry/ Customers |
The diamond industry |
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Export |
Unknown |
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Import |
Unknown |
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Major Industry Code / SICC |
39212 |
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Definition of Code |
Diamond cutting and polishing |
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Head Office Physical Address |
5.A JEWELLERY CENTER, 3RD FLOOR SUITE 308F, JOHANNESBURG, GAUTENG, 2094 |
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Head Office Postal Address |
5.A JEWELLERY CENTER, 3RD FLOOR SUITE 308F, JOHANNESBURG, GAUTENG, 2094 |
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Current Tel Number |
0722007437 |
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Cell Number |
0722007437 |
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Current Fax Number |
Unavailable |
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Current Email Address |
Unavailable |
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Web Site Address |
Unavailable |
Auditors Information
- N o Information on Record
Previous Auditors
Information - No Information on Record
Tax Information - No Information on Record
Black Economic Empowerment Information - No Information
on Record
ISO Information - No Information on Record
Work Mans Information - No Information on Record
Subsidiaries
Information - No Information on Record
Employees Information
- No Information on Record
Company Fleet
Information - No Information on Record
Offices Information
- No Information on Record
Branch Information
- No Information on Record
Organisational Chart
- No Information on Record
Company Structure
Information - No Information on Record
Note: One level up and all
levels down
Key Deals - No
Information on Record
Trade References
Information - No Information on Record
·
Business Rescue
- No Information on Record
·
Judgements
- No information on record
·
Default
Listing - No information on record
·
Notarial
Bonds - No information on record
·
Bank
Information - No Information on Record
·
Bank Code
History - No Information on Record
·
Previous
Bank Account Information - No Information on Record
·
Deeds
Information - No information on record
|
Number of Principals |
1 |
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Average Age of Active Principals |
37 |
Active Principals
Principal - 1of 1 ROSHAN DAYA
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Surname |
DAYA |
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First Name |
ROSHAN |
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Other Names |
None |
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Marital Status |
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ID Number |
7601235165089 |
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Verified ID Number |
Yes |
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Current Age |
37 Years 7 Months |
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Designation |
DIRECTOR |
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Status |
Active |
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Appointment Date |
2012/11/14 |
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Physical Address (at time of Appointment) |
37 SUIKERBOS STREET, LENASIA, GAUTENG, 1820 |
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Postal Address |
37 SUIKERBOS STREET, LENASIA, GAUTENG, 1820 |
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Current Tel Number |
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Cell number |
0722007437 |
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Shareholding/Membership |
0.00 |
Principal's Adverse - No information on record
Business Information for ROSHAN DAYA
Principal Current Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
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KISMET DIAMONDS (PTY) LTD |
K2012/203351/07 |
In Business |
1 Years 1 Months |
0 |
No |
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Principal's Previous Business Interests - No information on record
Principal's Deeds Information - No information on record
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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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 –
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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.67.03 |
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UK Pound |
1 |
Rs.104.32 |
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Euro |
1 |
Rs.88.24 |
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 |
---- |
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.