MIRA
INFORM REPORT
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Report Date : |
13th
June, 2006. |
IDENTIFICATION
DETAILS
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Name : |
BOMBAY
DIAMONDS |
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Registered Office : |
RM 1505, Multifield Plaza, 3-7a Prat
Avenue, Tsimshatsui, Kowloon, Hong Kong. |
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Country : |
Hong Kong |
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Date of Incorporation : |
09-04-2002 |
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Com. Reg. No.: |
32504589 |
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Legal Form : |
Sole
Proprietorship |
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Line of Business : |
Trading
of Diamond & 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 |
Company name & Address
BOMBAY DIAMONDS
RM 1505, MULTIFIELD PLAZA,
3-7A PRAT AVENUE, TSIMSHATSUI, KOWLOON, HONG KONG.
TEL : 852 23689022
FAX : 852 23114400
EXECUTIVE SUMMARY
INCORPORATION DATE :
9-4-2002
REGISTRATION NO. : 32504589
REGISTERED LEGAL FORM : SOLE PROPRIETORSHIP
CHIEF EXECUTIVE : DHANDIA RAJIV JAIN (SOLE PROPRIETOR)
STAFF STRENGTH : 3.
AUTHORIZED CAPITAL :
[IN HONG KONG, UNLIMITED COS. ARE NOT REQUIRED TO FILE ITS
CAPITAL PARTICULARS TO BR OFFICE (THE INLAND
REVENUE)]
PAID-UP CAPITAL : NOT APPLICABLE
BUSINESS LINE : TRADING OF DIAMOND & GEMSTONES
TURNOVER :
HKD10M (YEAR ENDED 31-12-2005)
EQUITIES :
N/A
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : MODERATE AMOUNT
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : AVERAGE
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : HKD 7.76296 = USD1 AS OF 2006-06-13
SC was
established under Business Registration number 32504589 on 9-4-2002 with
present status as sole proprietorship.
Currently
obtained BR copy indicate the particulars of SC's principal(s) are as follows:
Name(s) of principal(s) & ID/Passport
number(s) Registered address
- Dhandia Rajiv Jain / P851236(5) Unit
G, 14/F, Far East Mansion,
5
Middle Road, Tsimshatsui,
Kowloon,
Hong Kong.
Certain
material change or amendment regarding SC within the last 4 years has been
traced & noted as follows:
Change in
principal(s):
Name(s) of admitted partner(s) Joining
date
Nil Nil
Name(s) of retired partner(s) Leaving
date
Dhandia Meena 1-9-2003
Change of
business address : SC moved to the heading business address from Unit G, 14/F,
Far East Mansion, 5 Middle East, Tsimshatsui, Kowloon, Hong Kong in Oct 2002.
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) : In Hong Kong, unlimited companies are not
required to file its charge particulars for public inspection.
Dhandia
Rajiv Jain, sole proprietor:
- In his
late 30's
- He is
by Indian nationality
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Embarked upon his career to present field as a small businessman in his early
20's
- Also
currently sole proprietor of Thai Gems, SC's affiliate
Currently
active in SC's day-to-day operations & is responsible for its management.
Registered
residential address: As stated above.
Property
ownership: Current land search indicates the said premises ownership as
follows:
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Owner(s) : Tong Mark Wong Kwai & Tong Tze Ming
- Date of
purchase & consideration : 23-1-1998 / HKD1M
- Date of
mortgage & secured amount : NA
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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:
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 :
13-6-2002
Defendant(s) : Dhandia Rajiv Jain t/a Thai Gems
Plaintiff(s) : Cheung Jou Ji (literal translation)
Cause of claims : Dishonoured
cheque
Claimed amount : ANS
Ownership
background appraisal:
Rating : 3Obtained scores : 50 (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 & gemstones.
Items
available include cut diamond, raw diamond, sapphire, ruby, emerald, jade &
color gemstones.
Principal
purchases :
Major types of
sourcing : Diamond &
gemstones
Local--type of
suppliers : Nil
Buying terms : Nil
Overseas--supplying
countries : India, Thailand &
Belgium
Buying terms : L/C & T/T
Principal
market :
Local--type of
customers : Wholesalers & dealers
Selling terms : COD & special
agreed terms
Overseas--buying
countries : Nil
Selling terms : Nil
Total number of employees : 3.
Location : Maintaining
its office at the heading business address which occupies a gross area of 600
square feet at a commercial building in a commercial & shopping district.
Condition inside the premises during our
visit : Normal.
Office/factory layout : Standard.
The
premises is rented.
Jointly
occupying the premises with the below mentioned affiliate.
Affiliate(s):
Company name : Thai Gems
Year established : 1989
Business nature : Trading of precious stones
Address : Same as heading business address
Turnover :
HKD10M (year ended 31-3-2005)
Civil
litigation & winding-up petition records: Refer to Dhandia Rajiv Jain
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: HSBC.
Upon a
current contact, Dhandia Rajiv Jain, SC's sole proprietor, refused releasing
detailed financial data but advised that SC's turnover for the year ended
31-12-2005 was HKD10M.
Re: In Hong Kong, only the public listed cos.,
financial institutions & overseas cos. are obligated to file their
financial statements to Companies Registry for public search. Generally, the private limited cos. &
unlimited cos. always keep those data as highly confidential matter.
SC is
considered small-sized in its line locally with acceptable base to meet its
normal dealings. Credit up to moderate
amount may 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 |