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Report Date : |
19.06.2014 |
IDENTIFICATION DETAILS
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Name : |
DIAFIN SA |
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Registered Office : |
Place Numa-Droz 2, Case postale 2152, 2001
Neuchâtel/NE |
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Country : |
Switzerland |
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Year of Establishment : |
1978 |
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Com. Reg. No.: |
160.3.000.447-3 / 44644 |
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Legal Form : |
Company limited by shares |
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Line of Business : |
· Wholesaler of watches and jewellery · Subject is specializes in import and export of diamonds. · In La Chaux-de-Fonds, the gemstones are inspected and sorted according to their size, purity, color and customer requirements. The company works with two laboratories: HRD (Hoge Raad voor Diamond) and GIA Gemological Institute of America) in the U.S., one of the most prestigious laboratories in the world. |
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No of Employees : |
03 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Switzerland |
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
switzerland ECONOMIC OVERVIEW
Switzerland is a peaceful, prosperous,
and modern market economy with low unemployment, a highly skilled labor force,
and a per capita GDP among the highest in the world. Switzerland's economy
benefits from a highly developed service sector, led by financial services, and
a manufacturing industry that specializes in high-technology, knowledge-based
production. Its economic and political stability, transparent legal system,
exceptional infrastructure, efficient capital markets, and low corporate tax
rates also make Switzerland one of the world's most competitive economies. The
Swiss have brought their economic practices largely into conformity with the
EU's to enhance their international competitiveness, but some trade
protectionism remains, particularly for its small agricultural sector. The fate
of the Swiss economy is tightly linked to that of its neighbors in the euro
zone, which purchases half of all Swiss exports. The global financial crisis of
2008 and resulting economic downturn in 2009 stalled export demand and put
Switzerland in a recession. The Swiss National Bank (SNB) during this period
effectively implemented a zero-interest rate policy to boost the economy as
well as prevent appreciation of the franc, and Switzerland's economy began to
recover in 2010. The sovereign debt crises currently unfolding in neighboring
euro-zone countries pose a significant risk to Switzerland's financial
stability and are driving up demand for the Swiss franc by investors seeking a
safe-haven currency. The independent SNB has upheld its zero-interest rate
policy and conducted major market interventions to prevent further appreciation
of the Swiss franc, but parliamentarians have urged it to do more to weaken the
currency. The franc's strength has made Swiss exports less competitive and
weakened the country's growth outlook; GDP growth fell below 2% per year during
2011-13. Switzerland has also come under increasing pressure from individual
neighboring countries, the EU, the US, and international institutions to reform
its banking secrecy laws. Consequently, the government agreed to conform to
OECD regulations on administrative assistance in tax matters, including tax
evasion. The government has renegotiated its double taxation agreements with
numerous countries, including the US, to incorporate the OECD standard, and is
considering the possibility of imposing taxes on bank deposits held by
foreigners. These steps will have a lasting impact on Switzerland's long
history of bank secrecy.
|
Source : CIA |
Diafin SA
Place Numa-Droz 2
Case postale 2152
2001 Neuchâtel/NE
Switzerland/CH
Telephone: 032
9135274
Fax: 032
9135275
Web
site: http://www.diafin.ch
VAT-No.: CHE101539785
Established: 1978
Line
of Business: Consumer goods
wholesale
Industry
Division: Wholesale trade
Industry-code (NACE): 4648 Wholesale of watches and jewellery
Import/Export: Import, Export
Banks: unknown
Coverage: Company
Employees: 3
The company specializes in import and export of diamonds. In La
Chaux-de-Fonds, the gemstones are inspected and sorted according to their size,
purity, color and customer requirements. The company works with two
laboratories: HRD (Hoge Raad voor Diamond) and GIA Gemological Institute of
America) in the U.S., one of the most prestigious laboratories in the world.
Real Estate: The
company owns no property.
Company
No: 160.3.000.447-3 / 44644
Legal
form: Company limited by
shares
Registration: 04.10.2004
Legal
status: active
Responsible
Register: Registre du commerce du canton
de Neuchâtel
History: Date of Incorporation
Statutes: 04.12.1978
Date of
Statutes: 18.03.2013
Date of
Statutes: 04.07.2012
Date of
Statutes: 22.02.2006
Date of
Statutes: 22.09.2004
Entry Deleted Name
active Diafin
SA
active Diafin
AG (Name translated)
active Diafin
Ltd (Name translated)
Entry Deleted Legal domicile
19.03.2013 Neuchâtel,
Switzerland
04.10.2004 Epalinges, Switzerland
04.10.2004 19.03.2013 La Chaux-de-Fonds, Switzerland
Entry Deleted Address
19.03.2013 place
Numa-Droz 2, 2000 Neuchâtel/NE, Switzerland/CH
04.10.2004 19.03.2013 Rue Abraham-Robert 12, 2300 La Chaux-de-Fonds,
Switzerland/CH
Entry Deleted Capital
05.07.2012 Share
Capital CHF 3,622,500, paidup CHF 3,622,500
23.02.2006 05.07.2012 Share Capital CHF 2,925,000, paidup CHF
2,925,000
Entry Deleted Capital Structure
05.07.2012 1,610
Bearer shares of CHF 2,250.--
23.02.2006 05.07.2012 1,300 Bearer shares of CHF 2,250.--
Entry Deleted Activity (original Language)
active Commerce,
import-export des diamants, financement des affaires de diamants ainsi qu'au
service pour l'achat, dépôt et vente de diamants, gestion financière,
représentation, agence et placement des prêts et des hypothèques; prendre des
participations financières, commerciales et industrielles, administration,
gestion et mise en valeur, acquérir des objets immobiliers et des terrains, les
vendre et les gérer.
Entry Deleted Remarks (original Language)
active Publishing authority: Feuille
officielle suisse du commerce.
19.12.2013 Note:
L'identification sous le numéro CH-160-3000447-3 est remplacée par le numéro
d'identification des entreprises (IDE/UID) CHE-101.539.785.
04.10.2004 Reports:
Convocation et communication aux actionnaires: Feuille officielle suisse du
commerce ou lettre recommandée si tous les actionnaires sont connus.
Title Name
Director François
Weber, Origin: Arth, Switzerland, Residential address: La Chaux-de-Fonds ,
Switzerland, single signature
Title Name
Director François
Weber, Origin: Arth, Switzerland, Residential address: La Chaux-de-Fonds ,
Switzerland, single signature
Title Name
Auditor "FIDUCONSULT
ACTA SA" , Residential address: La Chaux-de-Fonds, Switzerland, Id:
CH-645.1.002.873-7, Registered since: 19.03.2013
No.
of Owner/-s: 1
Owner: The company is
privately owned.
Class: 100%
Type: direct
Name: François Weber
City/Country: La Chaux-de-Fonds ,
Switzerland/CH
Interest: 100,00% voting right,
100,00% capital interest
It is believed that the company has no investments.
An updated legal action check is only available against proof of interest.
e.g. a copy of an enquiry letter, and order or invoice relating to the subject
company.
Financial
Statements: The company does not
disclose any financial statements. Third parties are not permitted any insight
into the financial affairs. It is therefore difficult to make a proper
assessment of the actual situation.
Financial
Situation: The financial situation
is considered to be in order.
Payment
experiences: There are no objections
regarding the payment of financial obligations.
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.
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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.60.12 |
|
UK Pound |
1 |
Rs.102.00 |
|
Euro |
1 |
Rs.81.43 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
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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 |
|
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 |
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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.