MIRA
INFORM REPORT
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Report Date : |
13th
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
SHIV DIAMOND |
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Registered Office : |
Flat L1, 7/F, Kaiser Estate Phase Ii, 51 Man Yue St., Hunghom, Kowloon, Hong Kong |
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Date of Incorporation : |
07-11-1993 |
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Com. Reg. No.: |
17546061 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in manufacturing & export of natural diamond. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
RATING
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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
SHIV DIAMOND
ADDRESS
FLAT L1, 7/F, KAISER ESTATE PHASE II,
51 MAN YUE ST., HUNGHOM, KOWLOON, HK.
TEL : 852 23751317
FAX : 852 23177903
EXECUTIVE SUMMARY
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INCORPORATION DATE |
7-11-1993 |
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REGISTRATION NO. |
17546061 |
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REGISTERED LEGAL FORM |
SOLE
PROPRIETORSHIP |
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CHIEF EXECUTIVE |
KALATHIYA SANJAYBHAI O (SOLE PROPRIETOR) |
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STAFF STRENGTH |
10 (SHARING WITH ITS ASSOCIATED CO.) |
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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 |
MANUFACTURE & EXPORT OF NATURAL DIAMOND |
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TURNOVER |
N/A (AS OF DEC. 31, 2004) |
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EQUITIES |
N/A (AS OF DEC. 31, 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 7.75375 = USD1 AS OF 2006-2-10 |
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 17546061 on 7-11-1993 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
- Kalathiya Sanjaybhai O / R0673306 Flat C, 5/F, Hon Kwong
Mansion, 25-29
Hankow Road,
Tsimshatsui,
Kowloon, HK.
No material change or amendment regarding SC has been traced & noted since its inception.
Total number of employees : 10.
Location : Maintaining its office at the heading business address which occupies a gross area of 2,000 square feet at an industrial building in an industrial & residential district.
Condition inside the premises during our visit : Normal.
Office/factory layout : Standard.
The premises is rented.
Affiliate(s):
Company name : Sivam Jewels (Hong Kong) Company
Year established : 2004
Business nature : Manufacture & export of jewellery & watches
Address : Same as heading business address
Turnover : NA
Civil litigation & winding-up petition: None in our database
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 records 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 HK, unlimited companies are not required to file its charge particulars for public inspection.
Kalathiya Sanjaybhai O, sole proprietor: He is by Indian nationality.
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 : 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 & export of natural diamond.
Items available include natural diamond from 0.8mm to 4.0mm (price range: US$0.5 - US$125 per piece)
Production is assigned to its affiliated factory/joint venture factory , Nimbark Gems, located at Bombay, India.
Principal purchases :
Major types of sourcing : Raw materials
Local--type of suppliers : Nil
Buying terms : Nil
Overseas--supplying countries : Japan, S. Korea, USA, Europe & India
Buying terms : L/C, T/T & intercompany account basis
Principal market :
Local--type of customers : Nil
Selling terms : Nil
Overseas--buying countries : Japan, USA & Europe
Selling terms : L/C
SC is not known to 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
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.
During our report preparation, the principals could not be contacted
while the staff members hesitated to release financial information without the
principals' consent.
Re: In HK, 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.
-- 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 |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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