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MIRA INFORM REPORT
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Report No. : |
465114.2 |
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Report Date : |
14.02.2017 |
IDENTIFICATION DETAILS
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Name : |
FIRESTAR DIAMOND |
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Registered Office : |
Hoveniersstraat 30, Bus 119, 2018 Antwerpen |
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Country : |
Belgium |
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Date of Incorporation : |
31.07.2009 |
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Legal Form : |
BVBA (Corporation – Profit) |
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Line of Business : |
The Company's line of business includes the wholesale distribution of
jewelry, precious stones and metals, costume jewelry, watches, clocks, and
silverware. |
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No. of Employees : |
3 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
D |
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Credit Rating |
Explanation |
Rating Comments |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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Status : |
Poor |
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Payment Behaviour : |
-- |
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Litigation : |
-- |
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
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Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
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Belgium |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
BELGIUM - ECONOMIC OVERVIEW
Belgium’s central geographic location and highly developed transport network have helped develop a well-diversified economy, with a broad mix of transport, services, manufacturing, and high tech. Service and high-tech industries are concentrated in the northern Flanders region while the southern region of Wallonia is home to industries like coal and steel manufacturing. Belgium is completely reliant on foreign sources of fossil fuels, and the planned closure of its seven nuclear plants by 2025 should increase its dependence on foreign energy. Its role as a regional logistical hub makes its economy vulnerable to shifts in foreign demand, particularly with EU trading partners. Roughly three-quarters of Belgium's trade is with other EU countries, and the port of Zeebrugge conducts almost half its trade with the United Kingdom alone, leaving Belgium’s economy vulnerable to the outcome of negotiations on the UK’s exit from the EU.
Belgium’s GDP grew by 1.7% in 2017 and the budget deficit was 1.5% of GDP. Unemployment stood at 7.3%, however the unemployment rate is lower in Flanders than Wallonia, 4.4% compared to 9.4%, because of industrial differences between the regions. The economy largely recovered from the March 2016 terrorist attacks that mainly impacted the Brussels region tourist and hospitality industry. Prime Minister Charles MICHEL's center-right government has pledged to further reduce the deficit in response to EU pressure to decrease Belgium's high public debt of about 104% of GDP, but such efforts could also dampen economic growth. In addition to restrained public spending, low wage growth and higher inflation 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 labor market rules and welfare benefits. These changes have generally made Belgian wages more competitive regionally, but risk worsening tensions with trade unions and triggering extended strikes. In 2017, Belgium approved a tax reform plan to ease corporate rates from 33% to 29% by 2018 and down to 25% by 2020. The tax plan also included benefits for innovation and SMEs, intended to spur competitiveness and private investment.
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Source
: CIA |
Note
NIRAV MODI UNDER
INVESTIGATION FOR BANK FRAUD
Indian authority probes
billionaire jeweler’s dealings with Punjab National Bank, reports say.
India’s Central Bureau of
Investigation (CBI) has launched a probe into billionaire jeweler Nirav Modi
over allegations he defrauded a state bank of $44 million, Reuters reported.
The Punjab National Bank complained to the CBI that Modi and others had
conspired with bank officials for financial gain, the report said last week.
Earlier this month, the CBI raided Modi’s home, as well as 21 locations linked
to his companies and those of others accused in the case, the news organization
cited a spokesperson for the bureau as saying.
The fact that the CBI is investigating and has registered the complaint does
not mean the case will ever go to trial, the report noted, adding that the
inquiry was in its early stages.
Modi’s diamond-retail firm, Firestar International Limited, “has no
affiliation, legal or otherwise” with the case, the company said in a
statement. The CBI did not name Firestar in its accusations, Reuters
said.
A spokespeople for Modi did not immediately respond.
Company
name and address
Company name: FIRESTAR DIAMOND
Address: Hoveniersstraat 30, Bus
119, 2018 Antwerpen - Belgium
Telephone: +32 333 700
00
Fax: +32 333 724 60
Website: firestardiamond.com
TVA: 0817.647.147
Judicial form: BVBA
(Corporation
– Profit)
Date incorporated: 07-31-2009
Stock Value: USD
24,977,880=
Name of manager: Neeshal
MODI
ACTIVITIES & OPERATIONS
History:
On May 6, 2016, business
relocated from
Hoveniersstraat 53, Bus 36, 2018 Antwerpen.
Business:
Firestar Diamond BVBA was founded in 2009. The Company's line of business
includes the wholesale distribution of jewelry, precious stones and metals,
costume jewelry, watches, clocks, and silverware.
Staff: 3
Operations & branches:
At the headquarters, we
find a showroom and office.
SHAREHOLDERS
& MANAGERS
Shareholders:
This is a private Company.
Management:
Neeshal MODI is the
Director and CEO.
As far as we know, he is not involved in other local corporations.
Subsidiaries and
partnership:
None
FINANCIALS
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In USD |
04-2015 to 03-2016 |
04-2014 to 03-2015 |
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Sales |
241,571,783 |
219,563,976 |
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Net profit |
1,760,871 |
1,917,074 |
10K on attachment.
Banks: Amro Bank
LEGAL
FILINGS
Legal filings
& complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts
summary:
None