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Report No. : |
354195 |
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Report Date : |
14.12.2015 |
IDENTIFICATION DETAILS
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Name : |
MERU GEMS BVBA |
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Registered Office : |
Schupstraat 1/7-Bus 52, 2018 Antwerpen |
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Country : |
Belgium |
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Date of Incorporation : |
13.11.2014 |
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Com. Reg. No.: |
567963605 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Wholesale of diamonds and other precious stones. |
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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 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Belgium |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
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 |
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 shifts in foreign demand, particularly in Belgium’s EU trade
partners. Roughly three-quarters of Belgium's trade is with other EU countries.
In 2014 Belgian GDP grew by 0.9%, the unemployment rate stabilized at 8.5%, and
the budget deficit was 3.2% of GDP. Prime Minister Charles MICHEL's center-right
government has pledged to further reduce the deficit in response to EU pressure
to reduce Belgium's high public debt, which remains above 100% of GDP, but such
efforts could also dampen economic growth. In addition to restrained public
spending, low wage growth and high unemployment promise to curtail a more
robust recovery in private consumption. The government has pledged to pursue a
reform program to improve Belgium’s competitiveness, including changes to tax
policy, labor market rules, and welfare benefits. These changes risk worsening
tensions with trade unions and triggering extended strikes.
|
Source
: CIA |
Business number 567963605
Branche Unit Number 2236657771
Company name MERU GEMS BVBA
Address Schupstraat 1/7-Bus
52
2018 Antwerpen
Date of establishment 13/11/2014
Telephone number -
Fax number -
The
business was established over 12 months ago.
Newly
established businesses are proven to be more of an insolvency risk than more
established businesses.
No
employees are recorded for this business.
The
business has been at the address for over 12 months.
There
has been no significant change in the business's credit limit.
No key financials registered.
Payment
expectations
|
||||
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Past payments |
|
Payment expectation days |
-- |
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Industry average payment expectation days |
187.73 |
Industry
average day sales outstanding |
194.38 |
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Day sales outstanding |
-- |
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|
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BANKRUPTCY DETAILS |
||||
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Court action type |
no |
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PROTESTED BILLS |
||||
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Bill amount |
||||
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NSSO DETAILS |
||||
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Date of summons |
-- |
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|
|
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Business
number |
567963605 |
Company name |
MERU
GEMS BVBA |
|
Fax number |
- |
Date founded |
13/11/2014 |
|
Company
status |
active |
Company type |
Private
limited liability company |
|
Currency |
Euro (€) |
Date of
latest accounts |
- |
|
Activity code |
46761 |
Liable
for VAT |
yes |
|
Activity
description |
Wholesale
of diamonds and other precious stones |
VAT Number |
BE.0567.963.605
Check VAT number |
|
Belgian
Bullettin of Acts |
moniteur
belge |
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Significant Events
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Event Date |
27/11/2014 |
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Event
Description |
Registered as a Diamond Trader |
ANNUAL ACCOUNTS
There is no data for this company.
|
Activity code |
46761 |
|
Activity
description |
Wholesale of diamonds and other precious stones |
Payment
expectations
|
|
|
Industry comparison |
|
|
Activity code |
46761 |
|
Activity description |
Wholesale of diamonds and other precious stones |
|
Industry average payment expectation days |
187.73 |
|
Industry average day sales outstanding |
194.38 |
|
Industry quartile
analysis |
|
|
Payment
expectations |
|
|
Company result |
-- |
|
Lower |
132.91 |
|
Median |
60.64 |
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Upper |
28.62 |
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|
|
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Day sales
outstanding |
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Company result |
-- |
|
Lower |
131.59 |
|
Median |
85.12 |
|
Upper |
46.95 |
Group
Structure
No group structure for this
company.
Minority
Shareholders
No minority shareholders found
Minority
Interests
No minority interest found
Companies That
Match This Address
No companies match this address
Summons
There is no data for this company
Protested Bills
There is no data for this company
Bankruptcy and other legal events
There is no data for this company
CURRENT DIRECTOR
DETAILS
|
Position |
Manager |
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Start Date |
13/11/2014 |
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Street |
21 VAN EYCKLEI ANTWERPEN |
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Post code |
2018 |
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Country |
Belgium |
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Name |
Hiren Parikh |
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.
-
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.
-
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 –
-
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.66.79 |
|
|
1 |
Rs.101.10 |
|
Euro |
1 |
Rs.73.10 |
|
EURO |
1 |
Rs.73.39 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
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|
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Report Prepared
by : |
TPT |
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 |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
|
-- |
NB |
New Business |
-- |
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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.