MIRA INFORM REPORT
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Report
Date : |
27th
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
GOLDIAM HK LTD. |
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Registered
Office : |
Unit 903, 9/F, Houston Centre, 63 Mody Road, Tsimshatsui,
Kowloon, Hong Kong |
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Date
of Incorporation : |
14-4-2005 |
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Com.
Reg. No.: |
963206 |
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Legal
Form : |
Private Limited Company |
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Line
of Business : |
Manufacturing & export of
diamond & jewellery. |
RATING & COMMENTS
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MIRA’s
Rating : |
Ba |
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered
normal. Capable to meet normal commitments. |
Satisfactory |
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Status
: |
New
Company |
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Payment
Behaviour : |
Unknown |
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Litigation
: |
Clear |
NAME
GOLDIAM
HK LTD.
ADDRESS
UNIT 903,
9/F, HOUSTON CENTRE,
63 MODY
ROAD, TSIMSHATSUI, KOWLOON, HONG KONG.
TEL : 852 23686228
FAX : 852 23686234
EXECUTIVE SUMMARY
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INCORPORATION
DATE |
14-4-2005 |
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REGISTRATION
NO. |
963206 |
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REGISTERED
LEGAL FORM |
PRIVATE LIMITED CO. |
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CHIEF
EXECUTIVE |
BHANSALI RASESH MANHARKUMAR (DIRECTOR) |
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STAFF
STRENGTH |
4 |
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AUTHORIZED CAPITAL |
HKD 8M = 8M SHARES @ HKD 1.- |
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PAID-UP CAPITAL |
HKD 7.8M |
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BUSINESS
LINE |
MANUFACTURE & EXPORT OF DIAMOND & JEWELLERY |
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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 7.75952 = USD1 AS OF 2006-02-27 |
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
SC is a private limited company
registered under incorporation file no. 963206 on 14-4-2005.
SC's shareholders & directors
are shown to be as follows:
Shareholders
(as at 1-2-2006) Number
of shares held
Goldiam
International Ltd.
3,822,000
Sunshine
Corporation
2,262,000
Cheng
Tsang Kit
780,000
Ng Wang
Pun Dennis
780,000
Kunal
Harshad Vora 156,000
--------------
7,800,000
=========
Directors (as at 8-8-2005)
Bhansali Raseh Manharkumar / Z113005
Bhansali Manharkumar Ratilal /
E9601260
Mehta Milan Ratilal / F3426172
Mehta Nehal Milan / F4296252
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:
Change in capital : Authorized capital was increased from HKD
1M to the present amount on 8-8-2005 with the creation of 7M shares of HKD 1.-.
Paid-up
capital: HKD 7.8M.
Shares allotments on 8-8-2005:
Allottee(s) No.
of share(s)
Goldiam
International Ltd. 2,240,000
Sunshine
Corporation 2,262,000
Shares allotments on 1-2-2006:
Allottee(s) No.
of share(s)
Goldiam
International Ltd. 1,482,000
Cheng
Tsang Kit 780,000
Ng Wang
Pun Dennis 780,000
Kunal
Harshad Vora 156,000
Partial change in SC's
directorship as follows:
Name(s) of
resigned director(s) Resignation
date
Nil Nil
Name(s) of
newly appointed director(s) Appointment
date
Bhansali
Raresh Manharkmuar 16-4-2005
Bhansali
Manharkumar Ratilal 16-4-2005
Mehta
Milan Railal 8-8-2005
Mehta
Nehal Milan 8-8-2005
Total
number of employees: 4.
Location: Maintaining its office at the heading
business address which occupies a gross area of 800 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): None filed since
its incorporation date.
SC is a subsidiary of Goldiam
International Ltd. whose partial information is as follows:
Year
established :
NA
Registered/business address :
Gems & Jewellery Complex, M.I.D.C., Seepz,
Andheri (East), Bombay - 400096, India.
Business line :
As a holding co. with diverse interests in
manufacturing & export of diamond &
jewellery
including rings, earrings, pendants,
bracelets
& necklaces. 70% of its annual production is
exported to the American market.
No. of
employees :
450
Civil litigation & winding-up
petition records : None in
our database
Turnover :
US$54M (year ended 31-3-2005)
Bhansali Rasesh Manharkumar,
director:
- In his 40's
- He is by Indian nationality
- Also currently managing director
& vice chairman of Goldiam International Ltd., SC's parent
Currently residing in India &
only visits Hong Kong for business occasionally.
Registered residential address:
1001, Shree Ramakrishna Sadan, 63 Sir Pochkhanwala Road, Worli, Mumbai - 400
025, India.
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
Mehta Milan Ratilal, director:
- He is by Indian nationality
Currently residing in India &
only visits Hong Kong for business occasionally.
Registered residential address:
1106, Prasad Chambers, Opera House, Mumbai-400004, India.
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 : 2
Obtained scores : 65 (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 diamond & jewellery.
Items available include rings,
earrings, pendants, bracelets, bangles & necklaces (in gold and in
platinum).
Production is assigned to its
affiliated factory/joint venture factory
located at No.999 Fu Long Bldg., Sha Wen, Panyu, Guangzhou, Guangdong
Province, PR China (Tel: 86-20-34875878 & Fax: 86-20-34875778).
Principal purchases :
Major types of sourcing : Merchandise & accessories
Local--type of suppliers : Nil
Buying terms :
Nil
Overseas--supplying countries : India (mainly), SE Asia, USA & Europe
Buying terms :
L/C, T/T & intercompany account basis
Principal market :
Local--type of customers : Nil
Selling terms :
Nil
Overseas--buying countries : India & USA (mainly)
Selling terms :
L/C, T/T & intercompany account basis
SC is not known to have any subsidiary at present.
Overall
payment appraisal
(
) Excellent ( ) Good
( ) Average ( )
Fair ( ) Poor (X) 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.
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, Ms. So Candy, SC's staff member, declined forwarding any
financial information on the ground that it is the company's policy not
releasing any data to a third party without the benefit of knowing the identity
of the inquiring party.
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 1-2-2006 was nil.
Outside sources report that SC
possesses adequate working capital to meet its normal trade requirements &
reasonable financing to operate along the line.
SC is still in early stage of
development with a comparatively limited track record in its performance. On the other hand, the principals appear to
possess adequate experience and market connection to take off its
business. Credit in the range of small
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 |
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 |
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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 |
|
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 |
|
<10 |
C |
Absolute credit risk exists.
Caution needed to be exercised |
Credit not recommended |