MIRA
INFORM REPORT
|
Report
Date : |
21st
November, 2006 |
IDENTIFICATION
DETAILS
|
Name : |
LITTLE ROCKS (H.K.) COMPANY |
|
|
|
|
Registered
Office : |
Unit E1, 2/F, Kaiser Estate, Phase 1, 41 Man Yee St.,
Hunghom, Kowloon, Hong Kong |
|
|
|
|
Date
of Incorporation : |
10-5-1994 |
|
|
|
|
Com.
Reg. No.: |
477617 |
|
|
|
|
Legal
Form : |
Private Limited Company |
|
|
|
|
Line
of Business : |
Trading of Jewellery & Diamond. |
RATING & COMMENTS
|
MIRA’s
Rating : |
Ba |
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered
normal. Capable to meet normal commitments. |
Satisfactory |
|
Status
: |
Satisfactory
|
|
|
|
|
Payment
Behaviour : |
Regular |
|
|
|
|
Litigation
: |
Clear |
NAME
LITTLE
ROCKS (H.K.) COMPANY
O/B
DIAMOND WORLD HOLDINGS LTD.
ADDRESS
UNIT E1,
2/F, KAISER ESTATE, PHASE 1,
41 MAN YEE
ST., HUNGHOM, KOWLOON, HONG KONG.
TEL:
852 23678455
FAX:
852 23664177
EXECUTIVE SUMMARY
|
INCORPORATION
DATE |
10-5-1994 |
|
REGISTRATION
NO. |
477617 |
|
REGISTERED
LEGAL FORM |
PRIVATE
LIMITED CO. |
|
CHIEF
EXECUTIVE |
SHAM KAI
PING (GENERAL MANAGER) |
|
STAFF
STRENGTH |
10. |
|
AUTHORIZED
CAPITAL |
HKD50M =
50M SHARES @ HKD1.- |
|
PAID-UP
CAPITAL |
HKD50M |
|
BUSINESS
LINE |
TRADING
OF JEWELLERY & DIAMOND |
|
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 7.75622 = USD1 AS OF 2006-01-27 |
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
"Little Rocks (H.K.) Company" is a business name
operated by Diamond World Holdings Ltd. (SC)
SC is a private limited company registered under incorporation
file no. 477617 on 10-5-1994.
SC's shareholders & directors are shown to be as
follows:
Shareholders
(as at 10-5-2005) Number
of shares held
Dianco International Pte. Ltd. 25,500,000
Kothari Pratish Rupen 12,500,000
Mehta Shashin Suresh 11,999,999
Sham Kai Ping 1
-----------
50,000,000
==========
Directors (as at 10-5-2004)
Kothari Pratish Rupen / Z100926
Mehta Ketan Suresh / Z1444937
Mehta Shashin Suresh / Z1444749
Mehta Dilipkumar Dalpatlal / Z008758
The above registration information is based on SC's annual
return filed at Companies Registry within the last 2 years.
Our current search reveals certain material change or
amendment of SC has been recorded within the last 2 years & noted as
follows:
Shares transfers :
Date No. of shares Transferor(s) Transferee(s)
8-2-2005 6,750,001 Mehta Shashin
Suresh Dianco International
Pte.Ltd.
8-2-2005 18,749,999 Mehta Ketan
Suresh Dianco International
Pte.Ltd.
Total number of employees : 10.
Location : Maintaining its office at the heading business
address which occupies a gross area of 1,000 square feet at an industrial
building in an industrial 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) : None filed within the last 2 years as per
our current search.
Mortgage Index:
Year(s) in which mortgage registration(s) are filed: 1998,
2002
Year(s) in which mortgage satisfaction record(s) are filed:
2005
SC is a subsidiary of Dianco International Pte. Ltd. whose
partial information is as follows:
- Registered address:
80 Raffles Place, # 25-01 UOB Plaza, Singapore 048624.
- Business line: As
a holding co. with diverse interests in manufacturing and supply of jewellery.
- Civil litigation & winding-up petition records: None in our database.
Mehta Ketan Suresh, director:
- He is by Indian nationality
Currently residing in Thailand & only visits Hong Kong
for business occasionally.
Registered residential address: 603, K.B.S. Bldg., 30-38
Mahaesak SOI 3, Bangkok - 10500, Thailand.
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
Sham Kai Ping, shareholder & general manager:
- In his mid 40's & married
- 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.
Registered residential address: Flat D, 16/F, Blk 1, City
Garden, 233 Electric Road, North Point, HK.
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 : 56 (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 jewellery & diamond.
Items available include necklaces, rings, earrings, bangles,
bracelets, pendants & wrist chains.
Production is assigned to its affiliated factory/joint
venture factory , InterJewel International Pvt Ltd., located at Mumbai, India
(reportedly employing 12,000 workers).
SC's group is sourcing their conflict free rough supply from
Diamond Trading Company (DTC) and also from Rio Tinto Diamonds.
Principal purchases :
Major types of sourcing :
Merchandise
Local--type of suppliers :
Nil
Buying terms :
Nil
Overseas--supplying countries :
SE Asia, Middle East & India
Buying terms :
L/C & intercompany account basis
Principal market :
Local--type of customers :
Wholesalers & retailers
Selling terms :
COD & credit of 14 to 30 days
Overseas--buying countries : PR
China
Selling terms :
T/T
Affiliate(s):
Company name : D. Navinchandra & Co.
Year established : 1970
Business
nature : It is engaged in manufacturing
and export of jewellery
Address : 212-214 Prasad
Chambers, Opera House, Mumbai, 400004
India.
Turnover : NA
Civil litigation & winding-up petition records: None in
our database
SC's group also maintains affiliate companies in Belgium,
USA (in New York) & Thailand (in Bangkok).
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: HSBC.
During our
report preparation, the principals could not be contacted while the staff
members hesitated to release financial information without the principals'
consent.
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 10-5-2005 was nil.
SC is considered medium-sized in its line locally with
acceptable base to come into moderate amount of credit dealings.
-- 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 |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound
financial base with the strongest capability for timely payment of interest
and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered
normal. Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable
factors carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists.
Caution needed to be exercised |
Credit not recommended |