MIRA INFORM REPORT
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Report Date : |
24th May 2006 |
IDENTIFICATION DETAILS
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Name : |
BEAUTY-DIAM |
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Registered Office : |
RM 6, 9/F, Hart Avenue
Plaza, 5-9 Hart Avenue, Tsim Sha
Tsui, Kowloon, Hong Kong |
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Date of Incorporation : |
15.01.1997 |
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Com. Reg. No.: |
20640474 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Trading of Gemstones & Diamond. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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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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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Name
BEAUTY-DIAM
Address
RM 6, 9/F, HART AVENUE PLAZA, 5-9 HART AVENUE,
TSIMSHATSUI, KOWLOON, HK.
TEL : 852 23664475
FAX : 852 23664076
EXECUTIVE SUMMARY
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INCORPORATION
DATE |
15-1-1997 |
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REGISTRATION NO. |
20640474 |
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REGISTERED LEGAL FORM |
SOLE
PROPRIETORSHIP. |
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CHIEF EXECUTIVE |
KALA PIYUSH
BHAGCHAND (SOLE PROPRIETOR) |
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STAFF STRENGTH |
3 |
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AUTHORIZED
CAPITAL |
[IN HK, UNLIMITED
COS. ARE NOT REQUIRED TO FILE ITS CAPITAL PARTICULARS TO BR OFFICE (THE
INLAND REVENUE)] |
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PAID-UP CAPITAL |
NOT APPLICABLE |
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BUSINESS LINE |
TRADING OF
GEMSTONES & DIAMOND |
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TURNOVER |
HKD145M (YEAR
ENDED 31-3-2004) |
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EQUITIES |
NA (YEAR ENDED
31-3-2004) |
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PAYMENT |
AVERAGE |
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RECOMM. CREDIT RANGE |
MODERATE AMOUNT |
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MARKET CONDITION |
COMPETITIVE |
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FINANCIAL CONDITION |
STABLE |
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OPERATIONAL TREND |
FAIRLY STEADY |
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GENERAL REPUTATION |
AVERAGE |
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EXCHANGE RATE |
HKD 7.79838
= USD1 AS OF 2006-12-07 |
Adopted abbreviations
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
HKD – Hong Kong Dollars
SC was established under Business Registration number 20640474 on 15-1-1997 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
- Kala Piyush Bhagchand / E099954 Flat 9C, Bo Yip Bldg.,
6 Ashley Road,
Tsimshatsui, Kowloon,
HK.
No material change or amendment regarding SC has been traced & noted since its inception.
Certain material change or amendment regarding SC within the last 4 years has been traced & noted as follows:
Change of business address : SC moved to the heading business address from Rm 4, Blk B, 14/F of the captioned building in Nov 2000.
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 a commercial building in a commercial & shopping district.
Condition inside the premises during our visit : Normal.
Office/factory layout : Standard.
The premises is rented.
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.
Kala Piyush Bhagchand, sole proprietor: Born in 1973. He is a Bachelor of Commerce graduate. Embarked upon his career to present field as a junior salesman in his mid 20's. Currently active in SC's day-to-day operations & is responsible for its management.
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 : 3 Obtained scores : 55 (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 gemstones & diamond. Items available include necklaces, wrist chains, rings, earrings, etc.
SC's suppliers include
- Wdia Beigium
- Niru Impex Kalsaria Diamonds
SC's customers include
- Chong Fai Tai Cheong *
* SC has maintained the business relationship with the said co. for 3 years & the annual average transaction amount is about US$1.5M.
Principal purchases
Major types of sourcing : Merchandise
Local--type of suppliers : Importers & distributors
Buying terms : COD & credit of 30 days
Overseas--supplying countries : PR China, SE Asia, Europe & Middle East
Buying terms : L/C
Principal market
Local--type of customers : Wholesalers
Selling terms : COD
Overseas--buying countries : PR China & SE Asia
Selling terms : L/C
SC is not known have any subsidiary at present
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
SC did not provide any name of trade/service suppliers and we have no other sources to conduct the enquiry at present.
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: Bank of China (HK) Ltd.
Kala
Piyush Bhagchand, SC's sole proprietor, provided partial financial data of SC
as follows:
Items As at31-3-2004
Turnover HKD145M
Cost of good sold HKD 128M
Gross income HKD 17M
Expense HKD 1M
Net income HKD 16M
Current assets HKD 5M
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.
-- 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
RATING
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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 |