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MIRA INFORM REPORT
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Report No. : |
484597 |
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Report Date : |
08.01.2018 |
IDENTIFICATION DETAILS
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Name : |
GLORIOUS GEMS |
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Registered Office : |
Hoveniersstraat 30, Bus 223, 2018 Antwerpen |
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Country : |
Belgium |
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Financials (as on) : |
31.12.2016 |
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Date of Incorporation : |
07.11.1997 |
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Legal Form : |
BVBA (Corporation – Profit) |
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Line of Business : |
Trader in Fine Diamonds. |
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No. of Employees : |
2 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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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
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Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
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Belgium |
A2 |
A2 |
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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. Industry is concentrated
mainly in the more heavily-populated region of Flanders in the north. Belgium
is 100% 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.
Belgium’s GDP grew by 1.4% in 2016, unemployment at yearend was 8.4%,
and the budget deficit was 2.7% of GDP. The economy largely recovered from the
March 2016 terrorist attacks, which 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 107% 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 tax policy, 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.
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Source
: CIA |
Company
name & address
Company name: GLORIOUS GEMS
Address: Hoveniersstraat 30, Bus
223, 2018 Antwerpen - Belgium
Telephone: +32
03 231 7406
Fax: +32 03 231 7406
Website: -
TVA: 0461.869.854
Judicial form: BVBA (Corporation – Profit)
Date incorporated: November
7, 1997
Stock Value: USD
20,343,000=
Name of manager: KISHOR
KAKADIA
ACTIVITIES & OPERATIONS
Business:
Trader in fine diamonds.
Staff: 2
Operations & branches:
At the headquarters, we
find the corporate office.
SHAREHOLDERS
& MANAGERS
Shareholders:
- Kishor KAKADIA
- Mayurkumar MANGUKIYA
Management:
- Kishor KAKADIA
- Mayurkumar MANGUKIYA
As far as we know, they are not involved in other local corporations.
FINANCIALS
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USD |
2016 |
2015 |
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Sales |
205,479,093 |
184,751,540 |
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Net Profit |
1,059,944 |
276,621 |
Banks: HSBC
…
LEGAL
FILINGS
Legal filings & complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts summary: None
COMPANY CREDIT HISTORY
Trade references:
Date reported: July 2017
High credit: EUR 25,000
Now owing: 0
Past due: 0
Last purchase: June 2017
Line of business: Office supply
Paying status: On terms
Date reported: July 2017
High credit: EUR 12,000
Now owing: 0
Past due: 0
Last purchase: June 2017
Line of business: Payroll
Paying status: As agreed
Date reported: July 2017
High credit: EUR 150
Now owing: 0
Past due: 0
Last purchase: June 2017
Line of business: Telecommunications
Paying status: On terms
Domestic credit history:
National Credit Bureaus gave
a satisfying credit risk.
According to our credit analysts, during the last 6 months, domestic
payments were made on due date.
Other comments:
The Company is developing
its business.
The Company is in good
standing.
This means that all taxes
were paid on due date.
The risk is low.
Our opinion:
A business connection may
be conducted.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.38 |
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1 |
INR 86.02 |
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Euro |
1 |
INR 76.50 |
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Euro |
1 |
INR 76.02 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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VAR |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.