MIRA
INFORM REPORT
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Report Date : |
1st
June 2006 |
IDENTIFICATION
DETAILS
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Name : |
PRISMDIA LTD. |
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Registered Office : |
1214, 12/F, Peninsula Square, West Wing, 18 Sung On Street., Hunghom, Kowloon, Hong Kong |
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Country : |
Hong Kong |
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Date of Incorporation : |
5-12-2003 |
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Com. Reg. No.: |
873832 |
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Legal Form : |
Private limited company |
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Line of Business : |
Engaged in trading of diamond, diamond jewellery,
jade & gemstones |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Status : |
Satisfactory
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
NAME & ADDRESS
PRISMDIA LTD.
RM 1214, 12/F, WEST WING, PENINSULA SQUARE,
18 SUNG ON ST., HUNGHOM, KOWLOON, HONG KONG.
TEL: 852 35230390
FAX: 852 23148519
EXECUTIVE SUMMARY
INCORPORATION
DATE : 5-12-2003
REGISTRATION
NO. : 873832
REGISTERED
LEGAL FORM : PRIVATE
CHIEF
EXECUTIVE : GHEVRIYA SURESHKUMAR RAVIBHAI (DIRECTOR)
STAFF
STRENGTH : 3
AUTHORIZED CAPITAL : HKD 2M = 2M SHARES @ HKD1.-
PAID-UP CAPITAL : HKD 2M
BUSINESS
LINE :
TRADING OF DIAMOND, DIAMOND JEWELLERY, JADE &
GEMSTONES
TURNOVER : N/A (AS OF DEC. 31, 2004)
EQUITIES : N/A (AS OF
DEC. 31, 2004)
PAYMENT : AVERAGE
RECOMM. CREDIT
RANGE : MODERATE AMOUNT
MARKET
CONDITION : COMPETITIVE
FINANCIAL
CONDITION : STABLE
OPERATIONAL
TREND : FAIRLY STEADY
GENERAL
REPUTATION : AVERAGE
EXCHANGE
RATE : HKD 7.75890
= USD1 AS OF 2006-06-06
SC is a private limited company registered under
incorporation file no. 873832 on 5-12-2003.
SC's shareholders & directors are shown to be
as follows:
Shareholders (as at 5-12-2005) Number of shares held
Ghevriya Sureshkumar Ravjibhai 700,000
Mehta Nimesh Piyush 650,000
Mehta Rajul Nimesh 650,000
------------
2,000,000
=======
Directors (as at 5-12-2005)
Mehta Nimesh Piyush / P146336(9)
Ghevriya Sureshkumar Ravjibhai / R261338(6)
Mehta Romy Piyush / R148936(3)
The above registration information is based on SC's
annual return filed at Companies Registry within the last 2 years.
Our current search reveals certain material change
or amendment of SC has been recorded within the last 2 years & noted as
follows:
Shares transfers :
Date No.
of shares Transferor(s) Transferee(s)
15-2-2005 150,000 Ghevriya Sureshkumar Mehta Rajul Nimesh
Ravjibhai
15-2-2005 150,000 -- ditto -- Mehta
Nimesh Piyush
Change of business address : SC moved to the
heading business address from Unit 1405, 14/F, Win Field Commercial Bldg., 6-8A
Prat Avenue, Tsimshatsui, Kowloon, HK in Feb 2006.
Total number of employees: 3.
Location: Maintaining its
office at the heading business address, which occupies a gross area of 1,000
square feet at an industrial building in an industrial district.
Condition inside the premises during our visit :
Normal.
Office/factory layout : Standard.
The premises is owned by SC.
Property ownership: Current land search indicates
the ownership details of the captioned premises as follows:
- Owner(s): SC
- Date of purchase & consideration: 12-12-2005
/ HKD 4,620,700
- Date of mortgage & secured amount: 12-12-2005
/ ANS
- Mortgagee : DBS Bank (HK) Ltd.
This section will contain the civil litigations
& winding-up petitions filed against SC for the last 6 years (as stored in
our database), and the mortgage/charge filed by SC for the last 2 years. In Hong Kong, creation of such
mortgages/charges by an unlimited co is not required to be registered in the
public records.
Civil litigation/winding-up petitions: None in our database.
Mortgage/charge record(s) : (X) see below ( ) see per attached
Creation date :
12-12-2005
Charger(s) :
SC
Chargee(s) :
DBS Bank (HK) Ltd.
Secured amount :
ANS
Charge particulars :
Mortgage (Rm 1214, 12/F, West Wing,
Peninsula Square, 18 Sung On St., Hunghom, Kowloon, HK.)
Mortgage Index:
Year(s) in which mortgage registration(s) are
filed: 2005
Year(s) in which mortgage satisfaction record(s)
are filed: Nil
Ghevriya Sureshkumar Ravjibhai, director:
- In his 40's
- Embarked upon his career to present field as a
junior salesman in his 20's
Currently active in SC's day-to-day operations
& is responsible for its management.
Registered residential address: Flat E, 2/F,
Universal Mansion, 52 Hillwood Road, Tsimshatsui, Kowloon, HK.
Property ownership: Current land search indicates
the said premises ownership as follows:
- Owner(s) : Kan Kwok Choi & others
- Date of purchase & consideration : 8-8-1996 /
HKD 1.6M
- Date of mortgage & secured amount: NA
- Mortgagee : NA
Credit history check : This refers to a check of our database whether the said person
has been involved in any of the following records stored by us within the last
6 years:
Civil litigation as defendants : None
in our database
Bankruptcy/winding-up petitions : None
in our database
Delinquent payment records : None in our
database
Debt collection records : No
overdue amount owed by the said person was placed to us
for
collection
Mehta Nimesh Piyush, director:
- In his 50's & married
- He is by Israeli nationality
- Moved to HK from Israel in his 30's
- Also currently director of:
~ World
Shiner Ltd.
~ Billion
City (H.K.) Ltd.
~ Gemasia
(Hong Kong) Ltd.
~ Diasqua
International Ltd.
Currently active in SC's day-to-day operations
& is responsible for its management.
Registered residential address: Duplex B, 17th
& 18th floor, Tower 2, The Astrid, No.180 Argyle St., Kowloon, HK.
Property ownership: Current land search indicates
the said premises ownership as follows:
- Owner(s) : Mehta Nimesh Piyush
- Date of purchase & consideration: 31-8-2000 /
HKD 4.8M
- Date of mortgage & secured amount: 30-10-2003
/ ANS
- Mortgagee: Bank of China (HK) Ltd.
Credit history check: This refers to a check of our database whether the said person
has been involved in any of the following records stored by us within the last
6 years:
Bankruptcy/winding-up petitions : None
in our database
Delinquent payment records : None in our
database
Debt collection records : No
overdue amount owed by the said person was placed to us
for
collection
Civil litigations : (X) see below (
) see per attached
Date :
26-8-1999
Defendant(s) :
The said person
Plaintiff(s) :
Commissioner of Inland Revenue
Cause of claims :
Tax
Claimed amount: HKD 127,785
Date :
5-10-1999
Defendant(s) :
The said person
Plaintiff(s) :
Commissioner of Inland Revenue
Cause of claims :
Tax
Claimed amount: HKD 12,778
Ownership background appraisal:
Rating : 2 Obtained scores : 65 (see explanatory notes below)
Keys : 1 : scores 81-100 : Excellent
2 : scores
61-80 : Good
3 : scores
46-60 : Average
4 : scores
21-45 : Fair
5 : scores
01-20 : Poor
The rating indicates the personal financial &
operational strength of SC's major principals.
It is calculated from a composite of scores obtained from the following
5 factors which carry equal weight in our analysis:
Personal financial strength, credit history &
trade reputation, business experience & track record, market connection and
management skill.
Business
categories:
SC is engaged in trading of diamond, diamond
jewellery, jade & gemstones.
Items available include:
- fancy color enchanced diamond (in red, pink,
purple, blue, yellow & green color, etc.)
- fancy colored diamond jewellery (such as diamond
rings, earrings, bangles, pendants, necklaces & wedding sets)
- other jade & gemstones
Principal purchases:
Major types of sourcing : Merchandise
Local--type of suppliers : Nil
Buying terms :
Nil
Overseas--supplying countries : India (mainly), Thailand & other
Asian countries
Buying terms :
L/C & T/T
Principal market:
Local--type of customers : Nil
Selling terms :
Nil
Overseas--buying countries : PR China, Taiwan & Australia, SE Asia, USA &
Europe
Selling terms :
L/C & T/T
SC's overseas associated cos.:
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- Anand International (in India)
- Prism Diamond Co. Ltd. (in Thailand)
Overall payment appraisal :
( )
Excellent ( ) Good
(X) Average ( ) Fair
( ) Poor (
) Not yet determined
The appraisal serves as a reference to reveal SC's
payments habits and ability to pay. It
is based on the 3 weighed factors: Trade payment experience (through current
enquiry with SC's suppliers), our delinquent payment records and our debt
collection record concerning SC.
Trade payment experience : Owing to the nature of its business, SC is
not an active seeker of local commercial credit since merchandise/materials are
imported. Its expenses in the form of accruals and servicing are reportedly met
in prompt manner.
Delinquent payment record: None
in our database.
Debt collection record: No overdue amount
owed by SC was placed to us for collection within the last 6 years.
Banking relations are maintained principally with:
DBS Bank (HK) Ltd.
During
our report preparation, the principals could not be contacted while the staff
members hesitated to release financial information without the principals'
consent.
As per current co. search, total amount of
indebtedness of SC in respect of all mortgages and charges, which are required
to be registered with Companies Registry as at 5-12-2005, was nil.
SC is considered a normally advancing concern with
steady customers and good base to meet its trade engagements. Credit in the range of moderate amount can
be considered.
RATING EXPLANATIONS
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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 |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
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 |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |