|
Report No. : |
344977 |
|
Report Date : |
17.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
HORIZON DIAMONDS BVBA |
|
|
|
|
Registered Office : |
Schupstraat 1 2018 Antwerpen |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
16.06.1977 |
|
|
|
|
Com. Reg. No.: |
417418813 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Wholesale of diamonds and
other precious stones |
|
|
|
|
No. of Employees : |
1 |
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 : |
Slow but correct |
|
|
|
|
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 |
|
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 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 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 an 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 |
417418813 |
|
Branche Unit Number |
2013889155 |
|
Company name |
HORIZON
DIAMONDS BVBA |
|
Address |
SCHUPSTRAAT
1 |
|
|
2018
ANTWERPEN |
|
Number of staff |
1 |
|
Date of establishment |
16/06/1977 |
|
Telephone number |
032343464 |
|
Fax number |
032343976 |
The business was
established over 38 years ago.
The business has 1
employees.
The business has been
at the address for over 5 months.
The business has been
at the address for less than 6 months.
Operating Result in
the latest trading period increased 31%
on the previous trading period.
|
DATE OF LATEST ACCOUNTS |
TURNOVER |
PROFIT BEFORE TAX |
NET WORTH |
WORKING CAPITAL |
|
31/12/2013 |
24,179,272 |
111,364 |
4,991,046 |
5,058,379 |
|
31/12/2012 |
20,722,962 |
97,793 |
4,911,682 |
4,986,026 |
|
31/12/2011 |
29,135,760 |
103,749 |
4,945,889 |
5,025,216 |
|
Accounts |
|
|
|
|
|
DATE OF LATEST ACCOUNTS |
BALANCE TOTAL |
NUMBER OF EMPLOYEES |
CAPITAL |
CASHFLOW |
|
31/12/2013 |
12,970,895 |
1 |
4,600,000 |
117,488 |
|
31/12/2012 |
13,231,794 |
1 |
4,600,000 |
107,413 |
|
31/12/2011 |
12,659,841 |
0 |
4,600,000 |
118,221 |
Profitability
Liquidity
Net worth
|
Past payments |
|
Payment expectation days |
76.81 |
|
Industry average payment |
111.38 |
Industry average day sales |
172.26 |
|
expectation days |
|
outstanding |
|
|
Day sales outstanding |
52.28 |
|
|
BANKRUPTCY
DETAILS
|
Court
action type |
no |
PROTESTED
BILLS
|
Bill
amount |
- |
NSSO
DETAILS
|
Date
of summons |
- |
|
Business number |
417418813 |
Company name |
HORIZON
DIAMONDS |
|
|
|
|
BVBA |
|
Fax number |
032343976 |
Date founded |
16/06/1977 |
|
Company status |
active |
Company type |
Private
Limited Company |
|
|
|
|
(BL/LX) |
|
Currency |
Euro
(€) |
Date of latest accounts |
31/12/2013 |
|
Activity code |
46761 |
Liable for VAT |
yes |
|
Activity description |
Wholesale
of diamonds and other precious stones |
VAT Number |
BE.0417.418.813
Check VAT number |
|
Belgian Bullettin of Acts Publications |
moniteur
belge |
|
|
Contractor
details
|
Registered
contractor |
- |
|
number |
|
|
Contractor
description |
- |
|
Date
struck off register |
|
|
|
|
|
Personnel (NSSO classification) |
|
|
Code |
- |
|
Description |
- |
|
|
|
|
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 |
20/09/2010 |
|
Event
Description |
resignation-appointment
of director(s) |
|
Event
Details |
Commentaar
20-09-2010: Bevestiging van het ontslag
als statutair zaakvoerder van de heer
Mehta Girish. |
|
Assets |
|
|
|
|
|
|
|
|
|
|
Annual
accounts |
31-12-2013 |
% |
31-12-2012 |
% |
31-12-2011 |
% |
31-12-2010 |
% |
31-12-2009 |
|
Weeks |
52 |
|
52 |
|
52 |
|
52 |
|
52 |
|
Currency |
EUR |
|
EUR |
|
EUR |
|
EUR |
|
EUR |
|
Total
fixed assets |
294,619 |
-5.05 |
310,275 |
-11.46 |
350,435 |
31.45 |
266,594 |
11.35 |
239,412 |
|
Intangible
fixed assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Tangible
fixed assets |
289,770 |
-5.13 |
305,426 |
-11.62 |
345,585 |
32.03 |
261,745 |
11.59 |
234,563 |
|
Land
& building |
255,096 |
-7.11 |
274,633 |
-6.64 |
294,171 |
41.64 |
207,693 |
5.63 |
196,629 |
|
Plant
& machinery |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Furniture
& Vehicles |
34,674 |
12.61 |
30,792 |
-40.11 |
51,415 |
-4.88 |
54,052 |
42.49 |
37,934 |
|
Leasing
& Other Similar Rights |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Other
tangible assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Financial
fixed assets |
4,849 |
-0.01 |
4,849 |
0 |
4,849 |
0 |
4,849 |
0.01 |
4,849 |
|
Total
current assets |
12,676,276 |
-1.90 |
12,921,519 |
4.97 |
12,309,406 |
1.20 |
12,163,984 |
-26.05 |
16,449,299 |
|
Inventories |
8,956,183 |
6.07 |
8,443,740 |
13.85 |
7,416,864 |
49.18 |
4,971,707 |
-51.39 |
10,227,171 |
|
Raw
materials & consumables |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Work
in progress |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Finished
goods |
8,956,183 |
6.07 |
8,443,740 |
13.85 |
7,416,864 |
49.18 |
4,971,707 |
-51.39 |
10,227,171 |
|
Other
stocks |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Trade
debtors |
3,463,051 |
-17.59 |
4,202,192 |
-13.52 |
4,859,359 |
-28.64 |
6,809,626 |
11.77 |
6,092,606 |
|
Other
amounts receivable |
62,252 |
-17.43 |
75,397 |
1035 |
6,642 |
13.78 |
5,837 |
509 |
957 |
|
Cash |
194,453 |
-2.70 |
199,853 |
662 |
26,205 |
-93.04 |
376,477 |
193 |
128,228 |
|
Miscellaneous
current assets |
337 |
0.07 |
337 |
0 |
337 |
0 |
337 |
-0.07 |
337 |
|
Total
Assets |
12,970,895 |
-1.97 |
13,231,794 |
4.52 |
12,659,841 |
1.84 |
12,430,578 |
-25.52 |
16,688,711 |
|
Liabilities |
|
|
|
|
|
|
|
|
|
|
Total
shareholders equity |
4,991,046 |
1.62 |
4,911,682 |
-0.69 |
4,945,889 |
1.47 |
4,874,140 |
1.37 |
4,808,063 |
|
Issued
share capital |
4,600,000 |
0 |
4,600,000 |
0 |
4,600,000 |
0 |
4,600,000 |
0 |
4,600,000 |
|
Share
premium account |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Revaluation
reserve |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Reserves |
391,046 |
25.46 |
311,682 |
-9.89 |
345,889 |
26.17 |
274,140 |
31.76 |
208,063 |
|
Provisions
for Liabilities & Charges |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Deffered
taxes |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Creditors |
7,979,849 |
-4.09 |
8,320,112 |
7.86 |
7,713,952 |
2.08 |
7,556,438 |
-36.40 |
11,880,648 |
|
Other
long term loans |
361,952 |
-5.89 |
384,620 |
-10.50 |
429,762 |
-3.70 |
446,271 |
-1.60 |
453,537 |
|
Long
term group loans |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Other
long term liabilities |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total
long term debts |
361,952 |
-5.89 |
384,620 |
-10.50 |
429,762 |
-3.70 |
446,271 |
-1.60 |
453,537 |
|
Current
portion of long term debt |
6,950 |
-78.18 |
31,845 |
10.80 |
28,742 |
-1.11 |
29,065 |
-13.64 |
33,656 |
|
Financial
debts |
2,505,845 |
8.24 |
2,315,152 |
16.69 |
1,983,959 |
6.03 |
1,871,075 |
-1.69 |
1,903,199 |
|
Trade
creditors |
5,032,754 |
-4.78 |
5,285,141 |
3.82 |
5,090,663 |
-0.97 |
5,140,573 |
-43.94 |
9,170,295 |
|
Amounts
Payable for Taxes, |
38,414 |
343 |
8,657 |
-1.89 |
8,823 |
13.72 |
7,759 |
76.78 |
4,389 |
|
Remuneration
& Social Security |
|
|
|
|
|
|
|
|
|
|
Miscellaneous
current liabilities |
33,934 |
-88.49 |
294,698 |
71.33 |
172,003 |
178 |
61,696 |
-80.45 |
315,572 |
|
Total
current liabilities |
7,617,897 |
-4.00 |
7,935,493 |
8.94 |
7,284,190 |
2.45 |
7,110,167 |
-37.78 |
11,427,111 |
|
Total
Liabilities |
12,970,895 |
-1.97 |
13,231,794 |
4.52 |
12,659,841 |
1.84 |
12,430,578 |
-25.52 |
16,688,711 |
|
ratio analysis |
|
|
|
|
|
|
|
|
|
|
TRADING
PERFORMANCE |
|
|
|
|
|
|
|
|
|
|
Profit
Before Tax |
0.46 |
-2.13 |
0.47 |
30.56 |
0.36 |
38.46 |
0.26 |
-10.34 |
0.29 |
|
Return
on capital employed |
2.08 |
12.43 |
1.85 |
-4.15 |
1.93 |
7.22 |
1.80 |
29.50 |
1.39 |
|
Return
on total assets employed |
0.86 |
16.22 |
0.74 |
-9.76 |
0.82 |
6.49 |
0.77 |
75.00 |
0.44 |
|
Return
on net assets employed |
2.23 |
12.06 |
1.99 |
-5.24 |
2.10 |
6.60 |
1.97 |
28.76 |
1.53 |
|
Sales
/ net working capital |
4.78 |
14.90 |
4.16 |
-28.28 |
5.80 |
-19.89 |
7.24 |
45.67 |
4.97 |
|
Stock
turnover ratio |
37.04 |
-9.10 |
40.75 |
60.05 |
25.46 |
87.34 |
13.59 |
-66.81 |
40.94 |
|
Creditor
days |
76.81 |
-18.28 |
93.99 |
46.20 |
64.29 |
24.71 |
51.55 |
-61.87 |
135.20 |
|
Debtor
days |
52.28 |
-29.36 |
74.01 |
21.57 |
60.88 |
-10.38 |
67.93 |
-23.70 |
89.03 |
|
SHORT
TERM STABILITY |
|
|
|
|
|
|
|
|
|
|
Current
ratio |
1.66 |
1.84 |
1.63 |
-3.55 |
1.69 |
-1.17 |
1.71 |
18.75 |
1.44 |
|
Liquidity
ratio / acid ratio |
0.49 |
-12.50 |
0.56 |
-16.42 |
0.67 |
-33.66 |
1.01 |
87.04 |
0.54 |
|
Current
debt ratio |
1.53 |
-5.56 |
1.62 |
10.20 |
1.47 |
0.68 |
1.46 |
-38.66 |
2.38 |
|
Liquidity
ratio reprocessed |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Cashflow |
117,488 |
9.38 |
107,413 |
-9.14 |
118,221 |
20.94 |
97,749 |
32.38 |
73,839 |
|
Net
worth |
4,991,046 |
1.62 |
4,911,682 |
-0.69 |
4,945,889 |
1.47 |
4,874,140 |
1.37 |
4,808,063 |
|
LONG
TERM STABILITY |
|
|
|
|
|
|
|
|
|
|
Gearing |
57.60 |
3.58 |
55.61 |
12.62 |
49.38 |
2.58 |
48.14 |
-3.18 |
49.72 |
|
Equity
in percentage |
38.48 |
3.66 |
37.12 |
-4.99 |
39.07 |
-0.36 |
39.21 |
36.10 |
28.81 |
|
Total
debt ratio |
1.60 |
-5.33 |
1.69 |
8.33 |
1.56 |
0.65 |
1.55 |
-37.25 |
2.47 |
|
Working
capital |
5,058,379 |
1.45 |
4,986,026 |
-0.78 |
5,025,216 |
-0.57 |
5,053,817 |
0.63 |
5,022,188 |
|
Profit & loss |
|
|
|
|
|
|
|
|
|
|
Operating
Income |
24,179,272 |
16.68 |
20,722,962 |
-28.88 |
29,138,760 |
-20.36 |
36,590,001 |
46.49 |
24,978,598 |
|
Turnover |
24,179,272 |
16.68 |
20,722,962 |
-28.87 |
29,135,760 |
-20.37 |
36,589,729 |
46.48 |
24,978,487 |
|
Total
operating expenses |
23,917,043 |
16.54 |
20,523,357 |
-28.99 |
28,901,357 |
-20.60 |
36,398,640 |
47.03 |
24,756,420 |
|
Gross
Operating Margin |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Operating
Charges |
23,917,043 |
16.54 |
20,523,357 |
-29.00 |
28,904,357 |
-20.59 |
36,398,912 |
47.03 |
24,756,531 |
|
Employee
costs |
43,609 |
24.56 |
35,011 |
3.39 |
33,864 |
1.36 |
33,410 |
-3.96 |
34,786 |
|
Wages
and salary |
34,651 |
21.31 |
28,564 |
9.74 |
26,029 |
-3.88 |
27,080 |
-0.70 |
27,270 |
|
Employee
pension costs |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Social
security contributions |
8,958 |
49.91 |
5,976 |
-22.55 |
7,715 |
24.23 |
6,210 |
-16.04 |
7,397 |
|
Other
employee costs |
0 |
-100 |
471 |
294 |
119 |
0 |
119 |
0.34 |
119 |
|
Director
remuneration |
132,044 |
1.54 |
130,041 |
-5.89 |
138,175 |
14.01 |
121,192 |
-15.36 |
143,193 |
|
Amortization
and depreciation |
38,124 |
-8.40 |
41,620 |
-10.44 |
46,472 |
46.73 |
31,672 |
44.61 |
21,901 |
|
Operating
result |
262,229 |
31.37 |
199,605 |
-14.85 |
234,404 |
22.67 |
191,089 |
-13.95 |
222,067 |
|
Total
financial income |
2 |
- |
- |
- |
1 |
- |
- |
- |
- |
|
Total
financial expenses |
150,867 |
48.18 |
101,812 |
-22.08 |
130,656 |
37.27 |
95,182 |
-36.00 |
148,732 |
|
Results
on ordinary operations |
111,364 |
13.88 |
97,793 |
-5.74 |
103,749 |
8.18 |
95,906 |
30.78 |
73,335 |
|
before
taxation |
|
|
|
|
|
|
|
|
|
|
Extraordinary
Income |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Extraordinary
Charges |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Extraordinary
items |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Results
for the Year Before |
111,364 |
13.88 |
97,793 |
-5.74 |
103,749 |
8.18 |
95,906 |
30.78 |
73,335 |
|
Taxation |
|
|
|
|
|
|
|
|
|
|
Other
appropriations |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Taxation |
32,000 |
0 |
32,000 |
0 |
32,000 |
7.28 |
29,829 |
39.41 |
21,397 |
|
Results
on ordinary operations after taxation |
79,364 |
20.63 |
65,793 |
-8.30 |
71,749 |
8.58 |
66,077 |
27.22 |
51,938 |
|
Net
result |
79,364 |
20.63 |
65,793 |
-8.30 |
71,749 |
8.58 |
66,077 |
27.22 |
51,938 |
|
Profit
(Loss) for the Year to be appropiated |
79,364 |
20.63 |
65,793 |
-8.30 |
71,749 |
8.58 |
66,077 |
27.22 |
51,938 |
|
Dividends |
- |
- |
100,000 |
- |
- |
- |
- |
- |
- |
|
Social Balance Sheet Details |
|
|
|
Social Balance Sheet |
Total |
|
|
During
the reporting year |
|
|
|
ended
31-12-2013 |
|
|
|
Full-time
Employees |
- |
|
|
Part-time
Employees |
2 |
|
|
Total
Fte Employees |
1 |
|
|
Number
of hours worked |
|
|
|
Full-time
Employees |
- |
|
|
Part-time
Employees |
1,786 |
|
|
Total |
1,786 |
|
|
Personnel
Charges |
|
|
|
Full-time
Employees |
- |
|
|
Part-time
Employees |
43,609 |
|
|
Total |
43,609 |
|
|
Benefits
In Addition To Wages |
- |
|
|
During
the previous reporting year |
|
|
|
Average
number employees in Fte |
1 |
|
|
Actual
working hours |
1,398 |
|
|
Personnel
Charges |
35,011 |
|
|
Benefits
In Addition To Wages |
- |
|
|
Type of Contract |
Full-Time |
Part-Time |
Total Fte |
|
Unlimited
Duration |
- |
2 |
1 |
|
Contracts |
|
|
|
|
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 |
- |
1 |
1 |
|
Higher
education (non university) |
- |
- |
- |
|
Higher
education (university) |
- |
- |
- |
|
|
|
|
|
|
Women |
Full-Time |
Part-Time |
Total Fte |
|
Primary
education |
- |
- |
- |
|
Secondairy
education |
- |
1 |
1 |
|
Higher
education (non university) |
- |
- |
- |
|
Higher
education (university) |
- |
- |
- |
|
Working Category |
Full-Time |
Part-Time |
Total Fte |
|
Management |
- |
- |
- |
|
White
collar worker |
- |
1 |
1 |
|
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 |
- |
2 |
1 |
|
Leavers |
- |
1 |
1 |
|
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 |
- |
- |
|
Activity
code |
46761 |
|
Activity
description |
Wholesale
of diamonds and other precious stones |
|
Suspension of payments /
moratorium history |
|
|
Amount |
- |
|
Details |
- |
|
|
|
|
Payment expectations |
|
|
Payment
expectation days |
76.81 |
|
Day
sales outstanding |
52.28 |
|
|
|
|
Industry comparison |
|
|
Activity
code |
46761 |
|
Activity
description |
Wholesale
of diamonds and other precious stones |
|
Industry
average payment expectation days |
111.38 |
|
Industry
average day sales outstanding |
172.26 |
Industry
quartile analysis
Payment expectations
|
Company
result |
76.81 |
|
Lower |
120.57 |
|
Median |
75 |
|
Upper |
45.49 |
|
Day sales outstanding |
|
|
Company
result |
52.28 |
|
Lower |
107.56 |
|
Median |
54.48 |
|
Upper |
24.79 |
|
Summary |
|
|
|
|
Group
- Number of Companies |
0 |
|
|
|
Linkages
- Number of Companies |
0 |
|
|
|
Number
of Countries |
0 |
|
|
Group
Structure
No group structure
for this company.
Minority
Shareholders
No minority shareholders
found
Minority
Interests
No minority interests found
|
Summary |
|
|
Group
- Number of Companies |
0 |
|
Linkages
- Number of Companies |
0 |
|
Number
of Countries |
0 |
There is no data
for this company
There is no data
for this company
There is no data
for this company
Current
director details
|
Position |
Principal
Manager |
|
Start Date |
07/07/2014 |
|
Street |
35
BELGIËLEI ANTWERPEN |
|
Post code |
2018 |
|
Country |
Belgium |
|
|
|
|
Name |
KSHITIJ
JITENDRA SHAH |
|
|
|
|
Former director details |
|
|
Name |
JITENDRA
RATILAL SHAH |
|
Position |
Principal
Manager |
|
Start Date |
09/09/2010 |
|
End Date |
10/12/2013 |
|
Street |
6
ANGELUS RONCALLILAAN ANTWERPEN |
|
Post code |
2610 |
|
Country |
Belgium |
|
|
|
|
Position |
Non
Statutory Partner |
|
Start Date |
20/09/2010 |
|
End Date |
10/12/2013 |
|
Street |
6
ANGELUS RONCALLILAAN ANTWERPEN |
|
Post code |
2610 |
|
Country |
Belgium |
|
|
|
|
Name |
KERUL
BHARATKUMAR SHAH |
|
Position |
Principal
Manager |
|
Start Date |
09/09/2010 |
|
End Date |
Unknown
date |
|
Date of birth |
18/02/1978 |
|
Street |
67
BELGIËLEI ANTWERPEN |
|
Post code |
2018 |
|
Country |
Belgium |
-
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.64.97 |
|
UK Pound |
1 |
Rs.100.55 |
|
Euro |
1 |
Rs.73.99 |
INFORMATION DETAILS
|
Analysis Done by
: |
HNA |
|
|
|
|
Report Prepared
by : |
TRU |
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.