MIRA
INFORM REPORT
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Report Date : |
2nd
June, 2006. |
IDENTIFICATION
DETAILS
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Name : |
DIDI’S
JEWELLERY LIMITED |
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Registered Office : |
Suite B1, 7/F, Burlington House, 90-94 Nathan Road, Tsimshatsui, Kowloon,
Hong Kong. |
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Country : |
Hong Kong |
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Date of Incorporation : |
06.04.1990 |
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Com. Reg. No.: |
275186 |
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Legal Form : |
Private
Limited Company |
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Line of Business : |
Manufacture & Wholesale of Jewellery |
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
DIDI'S JEWELLERY LTD.
SUITE B1, 7/F, BURLINGTON HOUSE,
90-94 NATHAN ROAD, TSIMSHATSUI, KOWLOON, HONG KONG.
TEL: 852 23676824 FAX: 852 23114682
EXECUTIVE SUMMARY
INCORPORATION DATE : 6-4-1990
REGISTRATION NO. : 275186
REGISTERED LEGAL FORM : PRIVATE
CHIEF EXECUTIVE : DASWANI LAJU HARESH (MANAGING DIRECTOR)
STAFF STRENGTH : 20
AUTHORIZED CAPITAL : HKD 500,000 = 500,000 SHARES @ HKD1.-
PAID-UP CAPITAL : HKD 500,000
BUSINESS LINE : MANUFACTURE & WHOLESALE OF JEWELLERY
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 7.75742 = USD1 AS OF 2006-06-02
The name
"Dipis Jewellery Ltd." given by you has no business registration in
Hong Kong.
Our
findings revealed that the correct name of SC is the heading one.
SC is a
private limited company registered under incorporation file no. 275186 on
6-4-1990.
SC's
shareholders & directors are shown to be as follows:
Shareholders (as at 6-4-2006) Number
of shares held
Nainani Padma Vashdev 350,000
Daswani Laju Haresh 100,000
Nainani Shyam Vashdev 50,000
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500,000
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Directors
(as at 6-4-2006)
Daswani
Laju Haresh / XG114063(2)
Nainani
Padma Vashdev / XE342278(8)
Nainani
Shyam Vashdev / XG454951(5)
The above
registration information is based on SC's annual return filed at Companies
Registry within the last 2 years.
No
material change or amendment regarding SC has been traced & noted within
last 2 years.
Total number of employees : 20.
Location : Maintaining
its factory at the heading business address which occupies a gross area of
1,200 square feet at a residential building in a commercial & shopping
district.
Condition inside the premises during our
visit : Normal.
Office/factory layout : Standard.
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) :None
filed within the last 2 years as per our current search.
Mortgage
Index:
Year(s)
in which mortgage registration(s) are filed: 2003 & 2004
Year(s)
in which mortgage satisfaction record(s) are filed: Nil
Nainani Padma Vashdev, director:
- In his early 40's
- He is by Indian nationality
- Also currently sole proprietor of Asia
Gems, SC's affiliate
- Embarked upon his career to present field
as a small businessman in his early 30's
Currently active in SC's day-to-day
operations & is responsible for its management.
Registered residential address: Suite B1,
10/F, Burlington House, 90-94 Nathan Road, Tsimshatsui, Kowloon, HK.
Property ownership: Currently obtained land
copy indicates the said premises ownership as follows:
Owner(s):
Nainani Padma Veshedev, Daswahi Laju N., Daswani Sheela Chandrashekhar,
Nainani Vashdev
Date of purchase & consideration: 1-6-1995 / ANS
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
Ownership
background appraisal:
Rating :3Obtained scores : 60 (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 manufacturing & wholesale of jewellery.
Items
available include 14 & 18 Karat gold sets with precious stones, fine
jewellery (with pearl, gemset & diamond), watches and imitation jewellery.
Production
is assigned to its affiliated factory/joint venture factory located at Foshan, Guangdong Province, PR
China (reportedly employing over 100 workers there).
Principal
purchases :
Major types of
sourcing : Merchandise, raw
materials & accessories
Local--type of
suppliers : Nil
Buying terms : Nil
Overseas--supplying
countries : PR China & India
Buying terms : L/C, T/T & open
account of 30-60 days
Principal
market :
Local--type of
customers : Retailers
Selling terms : COD & credit of 30
days
Overseas--buying
countries : Worldwide
Selling terms : L/C & T/T
Affiliate(s):
Company name : Asia Gems
Year established : 1967
Business nature : Trading & wholesale of jewellery
Address : Same as heading business address
Turnover : NA
Civil
litigation & winding-up petition records: None in our database
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 operation, SC is not an active seeker of local commercial
credit. Its expenses in the form of accruals and servicing are reportedly met
in a 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: HSBC.
Upon a
current contact, SC's principal(s) declined forwarding any financial information
on the ground that SC is a private venture whose data is not required for
public inspection.
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 6-4-2006, was ANS.
SC is
considered medium-sized in its line locally with acceptable base to come into
moderate amount of credit dealings.
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Asset Tracing --
Upon our
current investigation, our database & sources consulted indicate that SC
was not involved in any property transaction (both purchase & disposal) in
Hong Kong for the last 6 years.
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 |