MIRA
INFORM REPORT
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Report Date : |
09.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
K DIAM |
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Registered Office : |
Flat 3, 16fl Prat Mansion - Block B
23-36 Prat Ave Tsimshatsui Kowloon, Hong Kong |
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Country : |
Hong Kong |
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Date Of Incorporation : |
December 9, 2003 |
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Com. Reg. No.: |
34128892 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in trading loose diamonds. |
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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Status : |
Small
Concern |
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Payment Behaviour : |
Usually
Correct |
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Litigation : |
Clear |
Name & address
K DIAM
FLAT 3, 16FL PRAT MANSION - BLOCK B
23-36 PRAT AVE
TSIMSHATSUI KOWLOON, HONG KONG
TEL: NA
FAX: 852 23691550
EXECUTIVE SUMMARY
INCORPORATION DATE :
DECEMBER 9, 2003
REGISTRATION NO. :
34128892
LEGAL FORM :
SOLE PROPRIETORSHIP
CHIEF EXECUTIVE :
MR. RAHUL BIPIN VARAIYA (CHAIRMAN)
STAFF STRENGTH :
5
CAPITAL :
US$ 1,284
BUSINESS LINE :
TRADER
TURNOVER :
NA (AS OF DEC. 31, 2005)
EQUITIES :
NA (AS OF DEC. 31, 2005)
PAYMENT : FAIR
RECOMM. CREDIT
RANGE : UP TO USD 1,500
MARKET
CONDITION : COMPETITIVE
FINANCIAL
CONDITION : FAIRLY STABLE
OPERATIONAL
TREND : FAIRLY STEADY
GENERAL
REPUTATION : AVERAGE
EXCHNAGE
RATE : HKD 7.78232= US$1 AS OF 2006-10-26
*Company Registration*
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License number
: 34128892
Date issued : 9 December, 2003
Issuing authority
: Inland Revenue Department
*Corporate & Organization Structure*
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A small-sized company operated and managed by the
owner.
*Reputation*
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Reference checking for the purpose of establishing
the firm's reputation within the respective industry failed to reveal any
negative information.
E-mail :
kdiam@rediffmail.com
SC is
not known to host website of its own at present.
For the
past two years there is no record of litigation.
*Major Shareholders*
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Under Hong Kong corporate law, there is no existing
"shareholder" in a sole proprietorship.
Name Nationality
Job Description
Mr. Rahul Bipin Varaiya Indian General Manager
*Key Personnel*
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Mr. Rahul Bipin Varaiya
Founder : Sole Founder
HKID no : ZZ6992756
Resident status
: India
Address : 201 Shilp Apartments Opp Gokulam Dairy Athwalines
Sorat
Work experience
: More than 5 years
Responsibility
: Handles the daily operation of the firm including all financials and
legal matters.
*Main Products & Services*
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Specializes in trading loose diamonds.
Products : Loose diamonds
*Payment Terms*
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Sales
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Local :
Cash
30-90 days credit
Export : Letter of Credit (L/C)
Telegraphic Transfer (T/T)
Purchases
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Import : Letter of Credit (L/C)
Telegraphic Transfer (T/T)
*Exhibition Participation*
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Exhibition fair
: Hong Kong Int'l Jewelry Manufacturers Exhibition
Date attended
: 6-9 March, 2006
Location
: Hong Kong Convention and Exhibition Centre
*Local Distribution Network*
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50% of the annual turnover is attributed to local
sales.
*Imports*
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100% of the products are imported from Belgium and
India.
*Export Markets*
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50% of the annual turnover is attributed to export
SC is
not known to have any subsidiary at present.
PAYMENT RATING : 4
OBTAINED SCORES : 48
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Rating
Key |
Implication |
Implications |
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1 |
Scores
85–100 |
Excellent |
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2 |
Scores
75 – 84 |
Above
Average |
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3 |
Scores
50 – 74 |
Average |
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4 |
Scores
35 – 49 |
Fair |
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5 |
Scores
15 – 34 |
Below
Average |
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6 |
Scores
01 – 14 |
Poor |
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NR |
No
Data |
No
Data |
The
rating indicates the payment pattern of SC based upon our Payment Database,
comments from suppliers of SC, information from banks (if available), as well
as industrial sources.
Dealings
on open terms may be possible for SMALL amounts depending on individual
judgement experience.
*Bank Details*
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Bank
: HANG SENG BANK LTD
Branch :
Tsimshatsui
As a sole proprietorship there is no legal
requirement according to local corporate law for public disclosure of detailed
financials.
SC is
considered small-sized in its line with favorable market conditions. It is
considered a credit line up to USD1,500 appears to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code
Product/Service
Description
Trading 5094 Jewelry/Watches/Precious Mtl
HARMONIZED PRODUCT CLASSIFICATION &
ACTIVITY
Activity Code
Product/Service
Description
Trading 7102 Diamonds, worked or not, not mounted or set
INTERNATIONAL TRADE : ACTIVITY & MARKETS
Exporting to Asia
Exporting to China
Importing from Asia
Importing from Belgium
Importing from Europe
Importing from India
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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