MIRA
INFORM REPORT
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Report Date : |
12.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
SIMI-DIAM LTD. |
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Registered Office : |
Rm 1301, 13fl Ashley Center 23-25 Ashley Rd, Tsimshatsui Kowloon |
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Country : |
Hong
Kong |
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Date of Incorporation : |
03.06.1988 |
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Com. Reg. No.: |
217477 |
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Legal Form : |
Private
Limited Company |
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Line of Business : |
Engaged in the distribution of polished diamonds and other
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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Status : |
Small Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
Company Name & Address
SIMI-DIAM LTD
RM 1301, 13FL ASHLEY CENTER 23-25 ASHLEY RD, TSIMSHATSUI
KOWLOON, HONG KONG
TEL : 852 27368018
FAX : 852 27359116
EXECUTIVE SUMMARY
INCORPORATION
DATE : JUNE 3, 1988
REGISTRATION
NO. : 217477
CHIEF
EXECUTIVE : MS. PRITI
YOGESH SHAH (CHAIRMAN)
STAFF
STRENGTH : 5
CAPITAL : US$ 257,400
BUSINESS
LINE : TRADER
TURNOVER : N/A (AS OF DEC.
31, 2005)
EQUITIES : N/A (AS OF
DEC. 31, 2005)
PAYMENT
: AVERAGE
MARKET
CONDITION : COMPETITIVE
FINANCIAL
CONDITION : STABLE
OPERATIONAL
TREND : FAIRLY STEADY
GENERAL
REPUTATION : AVERAGE
EXCHNAGE
RATE : HKD 7.80032 =
US$1 AS OF 2007-1-24
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
*Company
Registration*
===================
(1)
License
number : 217477
Date
issued : 3 June, 1988
Issuing
authority : Companies Registry
Type of
license : Corporate
(2)
License
number : 11916129
Issuing
authority : Business Registration Office - Inland Revenue Dept
Type of
license : Business
*Capital
Details*
=============
Share
value : HKD 1.00/-each
Authorized
capital : HKD 2,000,000.00
divided by 2,000,000 ordinary shares
Paid-up
capital : HKD 1,805,000.00
*Registrar*
=========
- TOTAL
CORPORATE SERVICES LTD
*Corporate
& Organization Structure*
============================
A small
company mainly operated and managed by an experienced team of professionals.
*Reputation*
===========
Reference
checking for the purpose of establishing the firm's reputation within the
respective industry failed to reveal any negative information.
*Approved
Signatures*
==================
Only
Mr. Priti Yogesh Shah can sign on behalf of the company with seal affixed.
E-mail
: simi_diam@hotmail.com
For the
past two years there is no record of litigation.
*Major
Shareholders*
=================
Total
number of shareholders : 2
Total
number of ordinary shares : 1,805,000
Shareholders'
Name No. of Ordinary Shares Amount of Shares (HKD) % of Shares
--------------------------
------------------------------
---------------------------------- ----------------
Priti
Yogesh Shah
1,804,999 1,804,999.00 100
Noohu A. M. Thaika 1 1.00 -
*Director's
Details*
===============
Noohu
A. M. Thaika
HKID number
: XG470206(2)
Address :
1706 Tung Ma House Fu Tung Estate TungChung Lantau, Hong Kong
*Company
Secretary*
=================
Noohu
A. M. Thaika
HKID
number : XG470206(2)
Address :
1706 Tung Ma House Fu Tung Estate TungChung Lantau, Hong Kong
*Key
Personnel*
=============
Priti
Yogesh Shah
Founder : Co-Founder
HKID
number : K827735(4)
Address : House 27, 10th St Hong Lok Yuen Tai PoNew Territories, Hong
Kong
Responsibilities :
Handles the daily operation of the firm including all financial, sales and
legal
matters.
Work
experience : More than 15 years
*Main
Products & Services*
======================
Specializes
in the distribution of polished diamonds and other jewelry.
Products
: Diamonds
Jewelry
Polished diamonds
*Payment
Terms*
==============
Sales
------
Local :
Cash
30-90 days credit
Exports
: Letter of Credit (L/C)
Telegraphic Transfer
(T/T)
Purchases
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Import :
Letter of Credit (L/C)
Telegraphic Transfer
(T/T)
*Local
Distribution Network*
=====================
20% of
the annual turnover is attributed to local sales.
*Export
Markets*
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80% of
the annual turnover is attributed to export.
SC is
not known to have any subsidiary at present.
PAYMENT RATING : 3 OBTAINED SCORES :
55
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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.
As a
private limited company there is no legal requirement according to local
corporate law for public disclosure of detailed financials.
*Bank
Details*
============
Bank : UCO BANK
Branch : Kowloon
SC is
considered small-sized in its line with favorable market conditions. It is considered
a credit line up to USD 20,000 appears to be within SC’s capacities.
ATTACHED: TRADE
REFERENCES
SIC
PRODUCT CLASSIFICATION & ACTIVITY
Activity
Code Product/Service Description
Service 5944
Jewelry Stores
Trading 3961
Jewelry of materials other
than solid gold, platinum & silver
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
Trading 7102100000
Diamonds, unsorted
Trading 7113
Articles of jewelry &
parts, of precious metal or clad
INTERNATIONAL
TRADE : ACTIVITY & MARKETS
Exporting
to Asia
Exporting
to Europe
Exporting
to North America
Exporting
to South America
Exporting
to USA
Importing
from Asia
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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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)