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Report Date : |
12.12.2014 |
IDENTIFICATION DETAILS
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Name : |
MANI
IMPEX CO., LTD. |
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Registered Office : |
1st Floor, Room
No. 101, J.K. Building,
4-6 Soi Mahesak 3, |
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Country : |
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Date of Incorporation : |
03.06.2014 |
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Com. Reg. No.: |
0105557076858 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
engaged in distributing various
kinds of diamonds and gemstones for
Jewelry Trading and
Jewelry Production. |
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No of Employees : |
01 |
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 Company |
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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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
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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 |
With a
well-developed infrastructure, a free-enterprise economy, generally pro-investment
policies, and strong export industries,
|
Source : CIA |
MANI IMPEX CO.,
LTD.
BUSINESS
ADDRESS : 1st FLOOR,
ROOM NO. 101,
J.K. BUILDING,
4-6 SOI MAHESAK
3,
SURIYAWONG,
BANGRAK,
TELEPHONE : [66] 086
061-7273
FAX :
-
E-MAIL
ADDRESS : -
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 2014
REGISTRATION
NO. : 0105557076858
TAX
ID NO. : 3036539469
CAPITAL REGISTERED : BHT. 4,000,000
CAPITAL PAID-UP : BHT.
4,000,000
SHAREHOLDER’S PROPORTION : THAI :
51.00%
INDIAN
: 49.00%
FISCAL YEAR CLOSING DATE : -
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. JIGNESH KUMAR
KHIMJIBHAI DIYORA, INDIAN
MANAGING DIRECTOR
NO.
OF STAFF : 1
LINES
OF BUSINESS : DIAMONDS AND
GEMSTONES
DISTRIBUTOR
OPERATING
TREND : EARLY
STAGE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : -
MANAGEMENT
STANDARD : -
The
subject was established
on June 3,
2014 as a
private limited company
under the registered
name MANI IMPEX
CO., LTD., by Thai
and Indian groups,
with the business
objective to distribute
various kinds of
diamonds and gemstones
for jewelry industry.
It currently employs
1 staff.
The
subject’s registered address
is 1st Floor, Room
No. 101, J.K. Building,
4-6 Soi Mahesak 3, Mahesak Road, Suriyawong, Bangrak,
Bangkok 10500, and this is the subject’s
current operation address.
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Name |
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Nationality |
Age |
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Mr. Jignesh Kumar
Khimjibhai Diyora |
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Indian |
29 |
The above director
signs on behalf
of the subject
with company’s affixed.
Mr. Jignesh Kumar Khimjibhai
Diyora is the
Managing Director.
He is Indian
nationality with the
age of 29 years
old.
The subject
is engaged in
distributing various kinds
of diamonds and
gemstones for jewelry
trading and jewelry
production.
PURCHASE
100% of the
products is purchased
from local suppliers.
SALES
100% of the
products is sold
locally to wholesalers,
retailers, and end-users.
SUBSIDIARY AND AFFILIATED
COMPANY
The subject is
not found to
have any subsidiary
or affiliated company
here in Thailand.
LITIGATION
Bankruptcy and
Receivership
There are no
litigation on bankruptcy
and receivership cases
filed against the
subject found at
Legal Execution Department
for the past
five years.
Others
There are no
legal suits filed
against the subject
for the past
two years.
CREDIT
Sales are by
cash or on
the credits term
of 30-60 days.
Local bills are
paid by cash
or on the
credits term of
30-60 days.
BANKING
Bangkok
Bank Public Co.,
Ltd.
EMPLOYMENT
The
subject currently employs
1 staff.
LOCATION
DETAILS
The
premise is rented for
administrative office at
the heading address.
Premise is located
in prime commercial
area.
The
subject is considered
as a newly
established firm operating
as a distributor of diamonds
and gemstones for jewelry trading
and production. Small
credit amount should
be given on
a secured basis.
The
capital was registered
at Bht. 800,000 divided
into 8,000 shares of
Bht. 100 each
with fully paid.
On
June 19, 2014,
the registered capital
was increased to
Bht. 4,000,000 divided
into 40,000 shares
of Bht. 100 each
with fully paid.
THE
SHAREHOLDERS LISTED WERE
: [as at
June 19, 2014]
|
NAME |
HOLDING |
% |
|
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Mr. Jignesh Kumar Khimjibhai
Diyora Nationality: Indian Address : 4-6
Soi Mahesak 3,
Mahesak Road,
Suriyawong, Bangrak, Bangkok
|
15,000 |
37.50 |
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Mr. Somboon Pu-eiam Nationality: Thai Address : 148 Krungthep-Kreetha Road,
Huamark,
Bangkapi, Bangkok |
6,800 |
17.00 |
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Mr. Chakrit Boonmalert Nationality: Thai Address : 120
Krungthep-Kreetha Road, Huamark,
Bangkapi, Bangkok |
6,800 |
17.00 |
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Mr. Anusorn Sornkeaw Nationality: Thai Address : 5
Serithai Road, Kannayao,
Bangkok |
6,800 |
17.00 |
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Mrs. Jinalben Jignesh Kumar
Diyora Nationality: Indian Address : 4-6
Soi Mahesak 3,
Mahesak Road, Suriyawong,
Bangrak, Bangkok |
4,600 |
11.50 |
Total Shareholders : 5
Share Structure [as
at June 19, 2014]
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Nationality |
Shareholders |
No. of Share |
% Shares |
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Thai |
3 |
20,400 |
51.00 |
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Foreign - Indian |
2 |
19,600 |
49.00 |
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Total |
5 |
40,000 |
100.00 |
Note:
Due to the company has been established in 2014,
there is no financial statement available.
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
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Indian Rupees |
|
US Dollar |
1 |
Rs.62.21 |
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UK Pound |
1 |
Rs.97.80 |
|
Euro |
1 |
Rs.77.48 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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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.