MIRA INFORM REPORT
|
Report Date : |
03.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
SAMIR GEMS NV |
|
|
|
|
Registered Office : |
Hoveniersstraat 30
2018 Antwerpen |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
01.04.1982 |
|
|
|
|
Com. Reg. No.: |
423673729 |
|
|
|
|
Legal Form : |
Public Limited
Liability Company |
|
|
|
|
Line of Business : |
Wholesaler of
diamonds and precious stones |
|
|
|
|
No. of Employees : |
02 |
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, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Belgium |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
BELGIUM - ECONOMIC OVERVIEW
This modern, open, and private-enterprise-based economy has
capitalized on its central geographic location, highly developed transport network,
and diversified industrial and commercial base. Industry is concentrated mainly
in the more heavily-populated region of Flanders in the north. With few natural
resources, Belgium imports substantial quantities of raw materials and exports
a large volume of manufactures, making its economy vulnerable to volatility in
world markets. Roughly three-quarters of Belgium's trade is with other EU
countries, and Belgium has benefited most from its proximity to Germany. In
2013 Belgian GDP grew by 0.1%, the unemployment rate increased to 8.8% from
7.6% the previous year, and the government reduced the budget deficit from a
peak of 6% of GDP in 2009 to 3.2%. Despite the relative improvement in
Belgium's budget deficit, public debt hovers around 100% of GDP, a factor that
has contributed to investor perceptions that the country is increasingly
vulnerable to spillover from the euro-zone crisis. Belgian banks were severely
affected by the international financial crisis in 2008 with three major banks
receiving capital injections from the government, and the nationalization of
the Belgian retail arm of a Franco-Belgian bank.
Source
: CIA
REGISTERED
NAME & COMPANY SUMMARY
|
Business number |
423673729 |
|
Company name |
SAMIR GEMS NV |
|
Address |
HOVENIERSSTRAAT 30 |
|
|
2018 ANTWERPEN |
|
Number of staff |
2 |
|
Date of
establishment |
01/04/1982 |
|
Telephone number |
032275853 |
|
Fax number |
032264549 |
|
Business number |
423673729 |
Company name |
SAMIR GEMS NV |
|
Fax number |
032264549 |
Date founded |
01/04/1982 |
|
Company status |
active |
Company type |
Public Limited
Liability Company (BE) |
|
Currency |
Euro (€) |
Date of latest
accounts |
31/12/2012 |
|
Activity code |
46761 |
liable for VAT |
yes |
|
Activity
description |
Wholesale of diamonds
and other precious stones |
VAT Number |
BE.0423.673.729 |
|
Belgian Bullettin
of Acts Publications |
|
|
DIRECTORS/MANAGEMENT
Current director
details
|
Name |
|
|
Position |
Director |
|
Start Date |
27/04/2013 |
|
Street |
5 FLAMINGOLAAN
ANTWERPEN |
|
Post code |
2610 |
|
Country |
Belgium |
|
|
|
|
Name |
|
|
Position |
Managing Director |
|
Start Date |
27/04/2013 |
|
Street |
5 FLAMINGOLAAN
ANTWERPEN |
|
Post code |
2610 |
|
Country |
Belgium |
|
|
|
|
Name |
|
|
Position |
Managing Director |
|
Start Date |
28/04/2007 |
|
Street |
5 FLAMINGOLAAN
ANTWERPEN |
|
Post code |
2610 |
|
Country |
Belgium |
|
|
|
|
Name |
|
|
Position |
Chairman of the
Board |
|
Start Date |
27/03/1996 |
|
Street |
5 FLAMINGOLAAN
ANTWERPEN |
|
Post code |
2610 |
|
Country |
Belgium |
|
|
|
|
Name |
|
|
Position |
Director |
|
Start Date |
27/03/1996 |
|
Street |
5 FLAMINGOLAAN
ANTWERPEN |
|
Post code |
2610 |
|
Country |
Belgium |
|
|
|
Former director details
|
Name |
|
|
Position |
Director |
|
Start Date |
28/04/2007 |
|
End Date |
31/12/2010 |
|
Street |
5 FLAMINGOLAAN
ANTWERPEN |
|
Post code |
2610 |
|
Country |
Belgium |
|
|
|
|
Name |
|
|
Position |
Director |
|
Start Date |
28/04/2007 |
|
End Date |
28/04/2013 |
|
Street |
5 FLAMINGOLAAN
ANTWERPEN |
|
Post code |
2018 |
|
Country |
Belgium |
|
|
|
|
Name |
|
|
Position |
Director |
|
Start Date |
28/04/2007 |
|
End Date |
27/04/2013 |
|
Street |
102 BELGIËLEI
ANTWERPEN |
|
Post code |
2018 |
|
Country |
Belgium |
NEGATIVE
INFORMATION
Court data summary
|
Bankruptcy details |
|
|
Court action type |
no |
|
Protested bills |
|
|
Bill amount |
- |
|
NSSO details |
|
|
Date of summons |
- |
Personnel (NSSO
classification)
|
Code |
- |
|
Description |
FROM 1 TO 4
EMPLOYEES |
Joint Industrial
Committee (JIC)
|
JIC Code |
218 |
|
Description |
Additional
national joint committee for the employees |
|
category |
|
|
JIC Code |
324 |
|
Description |
Joint committee
for the industry and the trade in diamant |
|
category |
|
Significant Events
|
Event Date |
15/05/2013 |
|
Event Description |
|
|
Event Details |
De heer Samir Bhansali
schrijft in op 61 nieuwe aandelen en de heer Anjal Bhansali schrijft in op
671 nieuwe aandelen. |
NSSO details
|
Business number |
423673729 |
|
Name of defendant |
- |
|
Legal form of defendant |
- |
|
Date of summons |
- |
|
Labour court |
- |
Bankruptcy details
|
There is no
bankruptcy data against this company |
|
court data
|
there is no data
for this company |
SHARE
& SHARE CAPITAL INFORMATION
Minority
Shareholders
|
No minority
shareholders found |
Minority Interests
|
No minority interests
found |
Individual
Shareholders
|
Shareholder Name |
|||
|
Forename |
Anjal |
Middle name |
- |
|
Surname |
Bhansali |
|
|
|
Shareholder
Details |
|||
|
Start date |
03/06/2013(estimated) |
End date |
- |
|
Percentage owned |
- |
|
|
|
Shareholder
Address |
|||
|
Street name |
Flamingolaan |
House number |
5 |
|
Minor town |
Wilrijk |
Postal town |
Antwerpen |
|
Post code |
2610 |
Country |
Belgium |
|
Shareholder Name |
|||
|
Forename |
Samir |
Middle name |
- |
|
Surname |
Bhansali |
|
|
|
Shareholder
Details |
|||
|
Start date |
03/11/1999(estimated) |
End date |
- |
|
Percentage owned |
- |
|
|
|
Shareholder
Address |
|||
|
Street name |
Flamingolaan |
House number |
5 |
|
Minor town |
Wilrijk |
Postal town |
Antwerpen |
|
Post code |
2610 |
Country |
Belgium |
PAYMENT
INFORMATION
expectations
|
Past payments |
|
Payment expectation days |
24.18 |
|
Industry average payment expectation days |
166.75 |
Industry average day sales outstanding |
118.14 |
|
Day sales
outstanding |
105.05 |
||
Industry
comparison
|
Activity code |
46761 |
|
Activity description |
Wholesale of
diamonds and other precious stones |
|
industry average credit rating |
64.48 |
|
Industry average credit limit |
140177.31 |
Suspension of
payments / moratorium history
|
Amount |
- |
|
Details |
- |
Payment
expectations
|
Payment expectation days |
24.18 |
|
Day sales outstanding |
105.05 |
Industry
comparison
|
Activity code |
46761 |
|
Activity description |
Wholesale of
diamonds and other precious stones |
|
Industry average payment expectation days |
166.75 |
|
Industry average day sales outstanding |
118.14 |
Industry quartile
analysis
|
Payment expectations |
|
|
Company result |
24.18 |
|
Lower |
134.36 |
|
Median |
84.93 |
|
Upper |
44.86 |
|
Day sales outstanding |
|
|
Company result |
105.05 |
|
Lower |
112.73 |
|
Median |
58.56 |
|
Upper |
28.58 |
GROUP
STRUCTURE & AFFILIATED COMPANIES
Ultimate holding
company
|
Company name |
|
Company Number |
View linked companies
from outside this company's group structure |
|
- |
|
- |
No linked
companies have been found. |
Summary
|
Group - Number of
Companies |
0 |
|
Linkages - Number
of Companies |
0 |
|
Number of
Countries |
0 |
Group Structure
|
No group structure
for this company. |
FINANCIAL
INFORMATION
Accounts
|
Date of latest
accounts |
Turnover |
Profit Before Tax |
Net worth |
Working capital |
|
31/12/2012 |
191,552,565 |
330,932 |
24,995,866 |
26,673,403 |
|
31/12/2011 |
174,837,311 |
295,488 |
24,800,692 |
26,911,703 |
|
31/12/2010 |
113,159,559 |
159,690 |
24,609,401 |
26,660,445 |
Accounts
|
Date of latest
accounts |
Balance Total |
Number of
Employees |
Capital |
Cashflow |
|
31/12/2012 |
93,805,441 |
2 |
20,000,000 |
293,861 |
|
31/12/2011 |
67,971,294 |
2 |
20,000,000 |
292,956 |
|
31/12/2010 |
47,948,150 |
2 |
20,000,000 |
178,367 |
Social Balance
Sheet Details
|
Social Balance
Sheet |
Total |
|
During the
reporting year |
|
|
Full-time
Employees |
2 |
|
Part-time Employees |
1 |
|
Total Fte
Employees |
3 |
|
|
|
|
Number of hours
worked |
|
|
Full-time
Employees |
2,690 |
|
Part-time
Employees |
1,040 |
|
Total |
3,730 |
|
|
|
|
Personnel Charges |
|
|
Full-time
Employees |
52,525 |
|
Part-time
Employees |
20,890 |
|
Total |
73,416 |
|
Benefits In
Addition To Wages |
- |
|
|
|
|
During the
previous reporting year |
|
|
Average number
employees in Fte |
3 |
|
Actual working
hours |
4,824 |
|
Personnel Charges |
85,382 |
|
Benefits In
Addition To Wages |
- |
|
Type of Contract |
Full-Time |
Part-Time |
Total Fte |
|
Unlimited Duration
Contracts |
2 |
1 |
3 |
|
Limited Duration
Contracts |
- |
- |
- |
|
Contracts For
Specific Work |
- |
- |
- |
|
Contracts
Regarding Substitution |
- |
- |
- |
|
Gender and Education
Level |
|
|
|
|
Men |
Full-Time |
Part-Time |
Total Fte |
|
Primary education |
- |
- |
- |
|
Secondairy
education |
- |
- |
- |
|
Higher education
(non university) |
- |
- |
- |
|
Higher education
(university) |
- |
- |
- |
|
Women |
Full-Time |
Part-Time |
Total Fte |
|
Primary education |
- |
- |
- |
|
Secondairy
education |
2 |
1 |
3 |
|
Higher education
(non university) |
- |
- |
- |
|
Higher education
(university) |
- |
- |
- |
|
Working Category |
Full-Time |
Part-Time |
Total Fte |
|
Management |
- |
- |
- |
|
White collar
worker |
1 |
1 |
2 |
|
Blue collar worker |
1 |
- |
1 |
|
Other |
- |
- |
- |
|
Temporary
personnel |
Total |
|
Average number of
temporary staff |
- |
|
Actual working
hours |
- |
|
Cost of temporary
staff |
- |
|
New staff and
leavers |
Full-Time |
Part-Time |
Total Fte |
|
New Starters |
- |
- |
- |
|
Leavers |
- |
- |
- |
|
Total of formal
continuing vocational training initiatives for workers paid by the employer |
Male |
Female |
|
Number of
employees |
- |
- |
|
Number of training
hours |
- |
- |
|
Net costs for
enterprise |
- |
- |
|
Total of less
formal and informal continuing vocational training initiatives for workers
paid by the employer |
Male |
Female |
|
Number of
employees |
- |
- |
|
Number of training
hours |
- |
- |
|
Net costs for
enterprise |
- |
- |
|
Total of initial
training initiatives at the expense of the employer |
Male |
Female |
|
Number of
employees |
- |
- |
|
Number of training
hours |
- |
- |
|
Net costs for
enterprise |
- |
- |
Profit
& loss
|
Annual accounts |
31-12-2012 |
% |
31-12-2011 |
% |
31-12-2010 |
Industry average |
% |
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
Turnover |
191,552,565 |
9.56 |
174,837,311 |
54.51 |
113,159,559 |
46,188,124 |
314 |
|
Total operating
expenses |
189,863,922 |
9.62 |
173,199,565 |
54.59 |
112,040,485 |
45,792,277 |
314 |
|
1,688,643 |
3.11 |
1,637,746 |
46.35 |
1,119,074 |
149,257 |
1031 |
|
|
1,153 |
-65.76 |
3,367 |
-24.10 |
4,436 |
98,814 |
-98.83 |
|
|
1,358,864 |
0.98 |
1,345,625 |
39.61 |
963,820 |
206,175 |
559 |
|
|
330,932 |
11.99 |
295,488 |
85.04 |
159,690 |
33,122 |
899 |
|
|
135,758 |
30.29 |
104,197 |
96.34 |
53,070 |
20,980 |
547 |
|
|
195,174 |
2.03 |
191,291 |
79.41 |
106,620 |
18,209 |
971 |
|
|
0 |
- |
0 |
- |
0 |
-4,771 |
0 |
|
|
0.00 |
- |
0.00 |
- |
0 |
- |
- |
|
|
195,174 |
2.03 |
191,291 |
79.41 |
106,620 |
13,454 |
1350 |
|
|
other information |
|||||||
|
- |
- |
- |
- |
- |
172,177 |
- |
|
|
102,036 |
-8.85 |
111,938 |
4.70 |
106,913 |
114,096 |
-10.57 |
|
|
73,416 |
-14.01 |
85,382 |
7.00 |
79,793 |
129,010 |
-43.09 |
|
|
59,601 |
-16.46 |
71,344 |
8.65 |
65,666 |
107,733 |
-44.68 |
|
|
- |
- |
- |
- |
- |
14,428 |
- |
|
|
12,212 |
-7.88 |
13,256 |
7.70 |
12,308 |
27,134 |
-55.00 |
|
|
1,603 |
104 |
782 |
-57.00 |
1,819 |
4,472 |
-64.16 |
|
|
98,687 |
-2.93 |
101,664 |
41.70 |
71,747 |
17,629 |
459 |
|
balance
sheet
|
Annual accounts |
31-12-2012 |
% |
31-12-2011 |
% |
31-12-2010 |
Industry average |
% |
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
0 |
- |
0 |
- |
0 |
1,614 |
-100 |
|
|
3,299,814 |
-1.62 |
3,354,002 |
-2.76 |
3,449,242 |
179,841 |
1734 |
|
|
3,158,060 |
-0.86 |
3,185,433 |
-2.09 |
3,253,334 |
351,498 |
798 |
|
|
11,501 |
-19.98 |
14,372 |
-21.51 |
18,311 |
22,362 |
-48.57 |
|
|
130,254 |
-15.53 |
154,196 |
-13.18 |
177,597 |
17,390 5,364 |
649 |
|
|
- |
- |
- |
- |
- |
142,153 32,369 |
- |
|
|
0 |
- |
0 |
- |
0 |
7,932 |
-100 |
|
|
262,264 |
2038 |
12,264 |
0.00 |
12,264 |
297,220 |
-11.76 |
|
|
3,562,078 |
5.82 |
3,366,266 |
-2.75 |
3,461,506 |
384,269 |
826 |
|
|
33,947,904 |
47.29 |
23,047,918 |
49.94 |
15,371,592 |
3,089,287 |
998 |
|
|
- |
- |
- |
- |
- |
7,209,884 |
- |
|
|
Work in progress |
0 |
- |
0 |
- |
0 |
2,497 |
-100 |
|
33,947,904 |
47.29 |
23,047,918 |
49.94 |
15,371,592 |
1,967,160 |
1625 |
|
|
0 |
- |
0 |
- |
0 |
580,371 |
-100 |
|
|
55,129,437 |
34.84 |
40,885,500 |
42.48 |
28,694,915 |
4,142,083 |
1230 |
|
|
Cash |
901,577 |
188 |
312,953 |
180 |
111,570 |
224,018 |
302 |
|
263,895 |
-26.42 |
358,657 |
16.23 |
308,567 |
185,620 |
42.17 |
|
|
550 |
- |
0 |
- |
0 |
18,072 |
-96.96 |
|
|
90,243,362 |
39.68 |
64,605,028 |
45.22 |
44,486,644 |
7,184,048 |
1156 |
|
|
93,805,441 |
38.01 |
67,971,294 |
41.76 |
47,948,150 |
7,536,892 1,449,923 |
1144 |
|
|
current
liabilities |
|||||||
|
12,576,255 |
122 |
5,659,278 |
221 |
1,758,047 |
3,014,509 |
317 |
|
|
- |
- |
- |
- |
- |
- |
- |
|
|
50,669,461 |
59.52 |
31,764,694 |
100 |
15,830,264 |
4,243,150 189,666 |
1094 |
|
|
139,689 |
-13.22 |
160,962 |
-13.14 |
185,308 |
108,910 15,032 |
28.26 |
|
|
127,404 |
231 |
38,460 |
314 |
9,286 |
9,397 - |
274 |
|
|
57,151 |
-18.28 |
69,931 |
61.53 |
43,294 |
-80.89 |
- - |
|
|
63,569,959 |
68.65 |
37,693,325 |
111 |
17,826,199 |
5,309,231 |
1097 |
|
|
Long term debts
and liabilities |
|||||||
|
Long term group
loans |
- |
- |
- |
- |
- |
- |
- - |
|
Other long term
loans |
5,239,615 |
-4.34 |
5,477,276 |
-0.64 |
5,512,550 |
369 |
- - |
|
Deffered taxes |
- |
- |
- |
- |
- |
35,141 24,730 |
- |
|
Provisions for
Liabilities & Charges |
0 |
- |
0 |
- |
0 |
3,241 0 |
-100 |
|
Other long term
liabilities |
0 |
- |
0 |
- |
0 |
133,599 |
-100 |
|
5,239,615 |
-4.34 |
5,477,276 |
-0.64 |
5,512,550 |
570,351 |
818 |
|
|
shareholders
equity |
|||||||
|
20,000,000 |
0 |
20,000,000 |
0 |
20,000,000 |
916,311 |
2082 |
|
|
- |
- |
- |
- |
- |
109,362 |
- |
|
|
4,672,866 |
4.36 |
4,477,692 |
4.46 |
4,286,401 |
699,078 |
568 |
|
|
323,000 |
0 |
323,000 |
0 |
323,000 |
934,864 |
-65.45 |
|
|
Total shareholders
equity |
24,995,866 |
0.79 |
24,800,692 |
0.78 |
24,609,401 |
1,643,187 |
1421 |
|
26,673,403 |
-0.89 |
26,911,703 |
0.94 |
26,660,445 |
1,874,818 |
1322 |
|
|
293,861 |
0.31 |
292,956 |
64.24 |
178,367 |
27,969 |
950 |
|
|
24,995,866 |
0.79 |
24,800,692 |
0.78 |
24,609,401 |
1,639,845 |
1424 |
|
ratio
analysis
|
Annual accounts |
31-12-2012 |
change(%) |
31-12-2011 |
change(%) |
31-12-2010 |
Industry average |
% |
|
Trading
performance |
|||||||
|
Profit Before Tax |
0.17 |
0 |
0.17 |
21.43 |
0.14 |
-27,00 |
0.63 |
|
1.09 |
11.22 |
0.98 |
84.91 |
0.53 |
31,00 |
-96.48 |
|
|
0.35 |
-18.60 |
0.43 |
30.30 |
0.33 |
-214,00 |
0.16 |
|
|
1.32 |
10.92 |
1.19 |
83.08 |
0.65 |
21,00 |
-93.71 |
|
|
7.18 |
10.46 |
6.50 |
53.30 |
4.24 |
45,00 |
-99 |
|
|
17.72 |
34.45 |
13.18 |
-2.95 |
13.58 |
115,00 |
-84.59 |
|
|
105.05 |
23.08 |
85.35 |
-7.79 |
92.56 |
138,00 |
-23.88 |
|
|
24.18 |
102 |
11.93 |
108 |
5.73 |
126,00 |
-80.81 |
|
|
short term
stability |
|||||||
|
1.42 |
-16.96 |
1.71 |
-31.60 |
2.50 |
7,00 |
-84.22 |
|
|
0.89 |
-19.09 |
1.10 |
-32.52 |
1.63 |
4,00 |
-77.75 |
|
|
2.54 |
67.11 |
1.52 |
111 |
0.72 |
9,00 |
-71.78 |
|
|
Liquidity ratio
reprocessed |
- |
- |
- |
- |
- |
- |
|
|
long term
stability |
|||||||
|
224.23 |
48.68 |
150.81 |
72.39 |
87.48 |
371,00 |
-39.56 |
|
|
26.65 |
-26.97 |
36.49 |
-28.91 |
51.33 |
-3.343,00 |
0.80 |
|
|
2.75 |
58.05 |
1.74 |
83.16 |
0.95 |
11,00 |
-75.00 |
|
FOREIGN
EXCHANGE RATES
Na
ADDITIONAL
INFORMATION
Commentary
|
The business was
established over 30 years ago. |
|
|
The business has 1
employees. |
|
|
The business has
been at the address for over 3 years. |
|
|
There has been no
significant change in the business's credit rating. |
|
|
There has been no
significant change in the business's credit limit. |
|
|
A 38% growth in
Total Assets occurred during the latest trading period. |
|
|
The business saw
an increase in their Cash Balance of 188% during the latest trading period. |
|
Trends
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Contractor details
Check Article 30 Bis
|
Registered
contractor number |
- |
||
|
Contractor
description |
- |
||
|
Date struck off
register |
|
|
|
NOTES
& COMMENTS
Na
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.59.13 |
|
|
1 |
Rs.99.02 |
|
Euro |
1 |
Rs.80.62 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
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.