MIRA
INFORM REPORT
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Report Date : |
14th
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
J J
DIAMOND JEWELLERY LIMITED |
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Registered Office : |
Flat
7, Blk B, 7/F, Golden Mansion, 83-85 Chatham Road, Tsimshatsui, Kowloon, Hong
Kong. |
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Country : |
Hong Kong |
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Date of Incorporation : |
09.08.2004 |
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Com. Reg. No.: |
916210 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Engaged in trading of diamond & fine
jewellery. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
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Status : |
Small
Company |
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Payment Behaviour : |
Usually
Correct |
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Litigation : |
Clear |
Company name & address
J J
DIAMOND JEWELERY LTD.
FLAT 7,
BLK B, 7/F, GOLDEN MANSION,
83-85 CHATHAM ROAD, TSIMSHATSUI, KOWLOON, HONG KONG.
TEL : 852 61906658
FAX : NOT REGISTERED
EXECUTIVE SUMMARY
INCORPORATION DATE :
9-8-2004
REGISTRATION NO. :
916210
REGISTERED LEGAL FORM : PRIVATE LIMITED CO.
CHIEF EXECUTIVE : JOSHI JITESH CHANDRAKANT (DIRECTOR)
STAFF STRENGTH :
1
AUTHORIZED
CAPITAL : HKD 10,000 = 10,000
SHARES @ HKD1.-
PAID-UP
CAPITAL : HKD 10,000
BUSINESS LINE :
TRADING OF DIAMOND & FINE JEWELLERY
TURNOVER :
US$2M (YEAR ENDED 31-3-2006)
EQUITIES : N/A
PAYMENT : AVERAGE
RECOMM. CREDIT
RANGE : SMALL AMOUNT
MARKET
CONDITION : COMPETITIVE
FINANCIAL
CONDITION : FAIRLY STABLE
OPERATIONAL
TREND : FAIRLY STEADY
GENERAL
REPUTATION : AVERAGE
EXCHANGE
RATE : HKD 7.78597
= USD1 AS OF 2006-11-14
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 is a private limited company registered under
incorporation file no. 916210 on 9-8-2004.
SC's shareholders & directors are shown to be
as follows:
Shareholders (as
at 9-8-2006) Number
of shares held
J J Diamond
Jewelry Inc. 10,000
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Directors (as at 9-8-2006)
Joshi Jitesh Chandrakant / Z8273387
The above registration information is based on SC's
annual return filed at Companies Registry within the last 2 years.
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 since
its incorporation date.
SC is a subsidiary of J J Diamond Jewelry Inc.
whose partial information is as follows:
- Registered address: Suite 590, 550 South Hill St., Los Angeles, CA 90013, USA.
- Business line
As a holding co. with core interests in trading of diamond & fine
jewellery
- Civil litigation & winding-up petition
records: None in our database
Joshi Jitesh Chandrakant, director:
- He is by American nationality
- Embarked upon his career to present field as a
junior salesman in his 20's
- Also currently president of J J Diamond Jewelry
Inc.
Currently residing in USA & only visits Hong
Kong for business occasionally.
Registered residential address: Same as heading
business address.
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
Nandani Rajiv, manager:
- In his mid 30's
- 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 : 58 (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 & fine
jewellery.
Principal purchases :
Major types of sourcing :
Diamond & jewellery
Local--type of suppliers :
Nil
Buying terms :
Nil
Overseas--supplying countries :
PR China & India (mainly)
Buying terms :
L/C, T/T & open account of 90 to 150 days
Principal market :
Local--type of customers :
Jewellery manufacturers
Selling terms :
Credit of 90 to 150 days
Overseas--buying countries : PR
China & USA (mainly)
Selling terms :
L/C, T/T & open account of 90 to 150 days
Total number of
employees : 1.
Location:
Maintaining its office at the heading business address at a commercial
building in a commercial & shopping district.
Condition inside
the premises during our visit : Normal.
Office/factory
layout : Standard.
Property ownership : Current land search indicates
the ownership details of the captioned premises as follows:
- Owner(s) : Soni Bharati Rajendra & Soni
Rajendrakumar Jayantilal*
- Date of purchase & consideration : 30-5-2005
/ HKD2.5M
- Date of mortgage & secured amount : NA
- Mortgagee : NA
*Partners of Ronak Gems.
Jointly occupying the premises with the below
mentioned related co.
Company:
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- Name:
Ronak Gems
- Year established: 1987
- Business nature:
Trading of cut & raw materials
- Address:
Same as heading business address
- Turnover:
NA
- Civil litigation & winding-up petition
records: See below
A check of our database indicated that the said co.
was sued in the following civil claim(s):
Date :
11-11-2004
Defendant(s) : Soni Rajendrakumar J. t/a Ronak Gems
Plaintiff(s) : Hong Kong Broadband Network
Ltd.
Cause of claim : Service charge
Claimed amount : ANS
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 America (Asia) Ltd.
Upon a current contact, Nandani Rajiv, SC's
manager, refused releasing detailed financial data but advised that SC's
turnover for the year ended 31-3-2006 was US$2M.
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 9-8-2006 was NA.
SC is considered small-sized in its line
locally with acceptable base to meet its normal dealings. Credit up to small amount may be considered
at present.
-- 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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