|
|
|
MIRA INFORM REPORT
|
Report No. : |
507845 |
|
Report Date : |
11.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
WORLD'S GOLD & DIAMONDS, INC. |
|
|
|
|
Registered Office : |
7500 Bellaire Blvd Ste 900 Houston, TX 77036-5027, USA |
|
|
|
|
Country : |
United States |
|
|
|
|
Financials (as on) : |
2016 [Summarized] |
|
|
|
|
Date of Incorporation : |
01.07.1993 |
|
|
|
|
Legal Form : |
Corporation |
|
|
|
|
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. |
|
|
|
|
No. of Employees : |
9 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Exist |
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
|
Country Name |
Previous
Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
United States |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
UNITED STATES - ECONOMIC OVERVIEW
The US has the most technologically powerful economy in the world, with a
per capita GDP of $59,500. US firms are at or near the forefront in
technological advances, especially in computers, pharmaceuticals, and medical,
aerospace, and military equipment; however, their advantage has narrowed since
the end of World War II. Based on a comparison of GDP measured at purchasing
power parity conversion rates, the US economy in 2014, having stood as the
largest in the world for more than a century, slipped into second place behind
China, which has more than tripled the US growth rate for each year of the past
four decades.
In the US, private individuals and business firms make most of the
decisions, and the federal and state governments buy needed goods and services
predominantly in the private marketplace. US business firms enjoy greater
flexibility than their counterparts in Western Europe and Japan in decisions to
expand capital plant, to lay off surplus workers, and to develop new products.
At the same time, businesses face higher barriers to enter their rivals' home
markets than foreign firms face entering US markets.
Long-term problems for the US include stagnation of wages for
lower-income families, inadequate investment in deteriorating infrastructure,
rapidly rising medical and pension costs of an aging population, energy shortages,
and sizable current account and budget deficits.
The onrush of technology has been a driving factor in the gradual
development of a "two-tier" labor market in which those at the bottom
lack the education and the professional/technical skills of those at the top
and, more and more, fail to get comparable pay raises, health insurance
coverage, and other benefits. But the globalization of trade, and especially
the rise of low-wage producers such as China, has put additional downward
pressure on wages and upward pressure on the return to capital. Since 1975,
practically all the gains in household income have gone to the top 20% of
households. Since 1996, dividends and capital gains have grown faster than
wages or any other category of after-tax income.
Imported oil accounts for more than 50% of US consumption and oil has a
major impact on the overall health of the economy. Crude oil prices doubled
between 2001 and 2006, the year home prices peaked; higher gasoline prices ate
into consumers' budgets and many individuals fell behind in their mortgage
payments. Oil prices climbed another 50% between 2006 and 2008, and bank
foreclosures more than doubled in the same period. Besides dampening the
housing market, soaring oil prices caused a drop in the value of the dollar and
a deterioration in the US merchandise trade deficit, which peaked at $840
billion in 2008. Because the US economy is energy-intensive, falling oil prices
since 2013 have alleviated many of the problems the earlier increases had
created.
The sub-prime mortgage crisis, falling home prices, investment bank
failures, tight credit, and the global economic downturn pushed the US into a
recession by mid-2008. GDP contracted until the third quarter of 2009, the
deepest and longest downturn since the Great Depression. To help stabilize
financial markets, the US Congress established a $700 billion Troubled Asset
Relief Program (TARP) in October 2008. The government used some of these funds
to purchase equity in US banks and industrial corporations, much of which had
been returned to the government by early 2011. In January 2009, Congress passed
and former President Barack OBAMA signed a bill providing an additional $787
billion fiscal stimulus to be used over 10 years - two-thirds on additional
spending and one-third on tax cuts - to create jobs and to help the economy
recover. In 2010 and 2011, the federal budget deficit reached nearly 9% of GDP.
In 2012, the Federal Government reduced the growth of spending and the deficit
shrank to 7.6% of GDP. US revenues from taxes and other sources are lower, as a
percentage of GDP, than those of most other countries.
Wars in Iraq and Afghanistan required major shifts in national resources
from civilian to military purposes and contributed to the growth of the budget
deficit and public debt. Through FY 2018, the direct costs of the wars will
have totaled more than $1.9 trillion, according to US Government figures.
In March 2010, former President OBAMA signed into law the Patient
Protection and Affordable Care Act (ACA), a health insurance reform that was
designed to extend coverage to an additional 32 million Americans by 2016,
through private health insurance for the general population and Medicaid for
the impoverished. Total spending on healthcare - public plus private - rose
from 9.0% of GDP in 1980 to 17.9% in 2010.
In July 2010, the former president signed the DODD-FRANK Wall Street
Reform and Consumer Protection Act, a law designed to promote financial
stability by protecting consumers from financial abuses, ending taxpayer
bailouts of financial firms, dealing with troubled banks that are "too big
to fail," and improving accountability and transparency in the financial
system - in particular, by requiring certain financial derivatives to be traded
in markets that are subject to government regulation and oversight.
In December 2012, the Federal Reserve Board (Fed) announced plans to
purchase $85 billion per month of mortgage-backed and Treasury securities in an
effort to hold down long-term interest rates, and to keep short-term rates near
zero until unemployment dropped below 6.5% or inflation rose above 2.5%. The
Fed ended its purchases during the summer of 2014, after the unemployment rate
dropped to 6.2%, inflation stood at 1.7%, and public debt fell below 74% of GDP.
In December 2015, the Fed raised its target for the benchmark federal funds
rate by 0.25%, the first increase since the recession began. With continued low
growth, the Fed opted to raise rates several times since then, and in December
2017, the target rate stood at 1.5%.
In December 2017, Congress passed and President Donald TRUMP signed the
Tax Cuts and Jobs Act, which, among its various provisions, reduces the
corporate tax rate from 35% to 21%; lowers the individual tax rate for those
with the highest incomes from 39.6% to 37%, and by lesser percentages for those
at lower income levels; changes many deductions and credits used to calculate
taxable income; and eliminates in 2019 the penalty imposed on taxpayers who do
not obtain the minimum amount of health insurance required under the ACA. The
new taxes took effect on 1 January 2018; the tax cut for corporations are
permanent, but those for individuals are scheduled to expire after 2025. The
Joint Committee on Taxation (JCT) under the Congressional Budget Office
estimates that the new law will reduce tax revenues and increase the federal
deficit by about $1.45 trillion over the 2018-2027 period. This amount would
decline if economic growth were to exceed the JCT’s estimate.
|
Source
: CIA |
STATUTORY
INFORMATION
|
|
|
Legal Name: |
WORLD'S GOLD & DIAMONDS, INC. |
|
Trade Names: |
WORLD'S GOLD & DIAMONDS, INC. |
|
ID: |
17426760579 (Texas Taxpayer Number) 0127607900 (Texas SOS File Number) |
|
Date Created: |
1993 |
|
Date Incorporated: |
01.07.1993 |
|
Legal Address: |
7500 Bellaire Blvd Ste 900 Houston, TX 77036-5027, USA |
|
Operative Address: |
7500 Bellaire Blvd Ste 900 Houston, TX 77036-5027, USA |
|
Telephone: |
1-713-995-7033 |
|
Fax: |
1-713-995-0756 |
|
Legal Form: |
Corporation |
|
Email: |
- |
|
Registered in: |
TEXAS |
|
Website: |
www.lowcostleader.com |
|
Contact: |
NASRUDDIN RUPANI - President |
|
Staff: |
9 |
|
Activity: |
SIC Code 5094 Jewelry, Watches, Precious Stones, and Precious Metals |
|
|
|
|
Banks: |
BANK OF AMERICA |
|
|
|
|
History: |
World's Gold & Diamonds, Inc. was
founded in 1993. |
|
|
|
PRINCIPAL
ACTIVITY
|
|
|
|
The company's line of business includes the wholesale distribution of
jewelry, precious stones and metals, costume jewelry, watches, clocks, and silverware. |
|
Products/Services description: |
The company offers ladies´ and men´s earrings, pendants, rings,
diamond crosses, stainless steel bracelets, bridal sets and pearls. |
|
Brands: |
LOW COST LUXURY |
|
Sales are: |
Wholesale |
|
Clients: |
Retailers |
|
Suppliers: |
NA |
|
Operations area: |
National |
|
The subject employs |
9 employees |
|
Payments: |
No Complaints |
|
|
|
LOCATION
|
|
|
Headquarters : |
7500 BELLAIRE BLVD STE 900 HOUSTON, TX 77036-5027, USA |
|
Comments on Address: |
- |
|
Branches: |
No other branches were found. |
|
Related Companies: |
No related companies were found. |
|
|
|
GROUP
STRUCTURE AND SUBSIDIARY COMPANIES
|
|
|
Listed at the stock exchange: |
NO |
|
Capital: |
NA |
|
Shareholders: |
The company does not disclose information on shareholders. We were not
able to confirm major holders. |
|
Management: |
Title Name and Address VICE PRESI FARIDA RUPANI 7500 BELLAIRE STE 900 HOUSTON, TX 77036 PRESIDENT NASRUDDIN RUPANI 7500 BELLAIRE STE 900 HOUSTON, TX 77036 |
|
|
|
FINANCIAL
INFORMATION
|
|
|
|
The company does not make its financial
statements public. |
|
USD 2016 / Estimated |
|
|
Sales |
2 100 000 |
|
CASH FLOW |
NORMAL |
|
|
|
LEGAL
FILINGS
|
|
|
CASES |
George Elmassian d/b/a Dazzlers v. World Gold & Diamonds Inc. aka
and d/b/a World Gold & Diamonds and World Gold and Diamonds--Appeal from
Co Civil Ct at Law No 4 of Harris County Annotate this Case George Elmassian v. World Gold & Diamonds /**/ IN THE TENTH COURT OF APPEALS No. 10-03-055-CV GEORGE ELMASSIAN D/B/A DAZZLERS, Appellant v. WORLD GOLD AND DIAMONDS, INC., A/K/A AND D/B/A WORLD GOLD & DIAMONDS AND WORLD GOLD AND DIAMONDS, Appellee From the County Civil Court at Law No. 4 Harris County, Texas Trial Court # 723,418 MEMORANDUM OPINION George Elmassian dba Dazzlers appeals from an adverse judgment.
According to information provided by the county clerk, the court signed the
judgment on September 26, 2002. Elmassian timely filed a motion for new trial.
Thus, the clerk s record was due on January 24, 2003. The county clerk notified the Clerk of the Fourteenth Court of Appeals
on January 7, 2003 that Elmassian had failed to pay the fee for preparation
of the clerk s record or make arrangements to pay the fee. The appellate
court clerk then notified Elmassian by letter dated January 8 that his appeal
would be dismissed for want of prosecution if he failed to make the necessary
arrangements. On February 5, the Clerk of the Fourteenth Court of Appeals notified
the parties that this appeal had been transferred to this Court pursuant to
an order of the Supreme Court. The clerk s record has not been filed. Rule of Appellate Procedure 37.3(b) provides that if an appellant
fails to pay or make arrangements to pay the clerk s fee for preparation of
the record, the Court may: dismiss the appeal for want of prosecution, unless the appellant was
entitled to proceed without payments of costs. The court must give the
appellant a reasonable opportunity to cure before dismissal. |
|
|
|
|
TRADEMARKS |
LOW COST LEADER Jewelry and diamond jewelry, namely rings, bracelets, pins, brooches,
earrings, pendants and necklaces; diamonds and other… Owned by: World's Gold and Diamonds, Inc. Serial Number: 76383511 NOTHING OVER $ 99 Jewelry Owned by: World's Gold and Diamonds, Inc. Serial Number: 78234294 NOTHING OVER $ 199 JEWELRY Owned by: World's Gold and Diamonds, Inc. Serial Number: 78236404 NOTHING OVER $ 299 JEWELRY Owned by: World's Gold and Diamonds, Inc. Serial Number: 78236409 LOW PRICE LEADER RETAIL JEWELRY Owned by: World's Gold and Diamonds, Inc. Serial Number: 78236423 QUALITY FOR LESS! Jewelry Owned by: World's Gold and Diamonds, Inc. Serial Number: 78253565 EVERYTHING $99 JEWELRY Owned by: World's Gold and Diamonds, Inc. Serial Number: 78253568 EVERYTHING $199 JEWELRY Owned by: World's Gold and Diamonds, Inc. Serial Number: 78253571 EVERYTHING $299 JEWELRY Owned by: World's Gold and Diamonds, Inc. Serial Number: 78287895 PRICE POINT LEADER Jewelry and diamond jewelry, namely rings, bracelets,pins, brooches,
earrings, pendants and neclaces; diamonds and other… Owned by: World's Gold and Diamonds, Inc. Serial Number: 78312916 NOTHING OVER $199 Jewelry Owned by: World's Gold and Diamonds, Inc. Serial Number: 78461168 NOTHING OVER $299 Jewelry Owned by: World's Gold and Diamonds, Inc. Serial Number: 78461646 |
|
|
|
|
UCC |
No found. |
|
|
|
|
OFAC Sanctions List Search |
The company is not listed in the OFAC list. |
|
|
|
SUMMARY
|
|
|
|
Founded in 1993, World´s Gold & Diamonds, Inc. is an organization
in the Jewelry, Watches, Precious Stones, and Precious Metals Industry
headquartered in Houston, Texas. The company has 9 regular employees. It operates nationally. It is ACTIVE in business with no negative
records. |
|
|
|
RISK
INFORMATION
|
|
|
DEBTS |
Controlled |
|
PAYMENTS |
No Complaints |
|
CASH FLOW |
Normal |
|
STATUS |
Active |
|
|
|
|
INTERVIEW |
|
|
NAME |
NASRUDDIN RUPANI |
|
POSITION |
President |
|
COMMENTS |
He confirmed the name of the company, the address of the headquarters
and location and the date of creation of the company. He was reluctant to
provide further information. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 67.38 |
|
|
1 |
INR 91.39 |
|
Euro |
1 |
INR 79.89 |
|
US Dollar |
1 |
INR 67.17 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIY |
|
|
|
|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
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.