MIRA
INFORM REPORT
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Report Date : |
19.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
AMY DIAM LTD. |
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Registered Office : |
Rm A3, 5/F, Burlington House, 90-94c Nathan Road,
Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
29-9-2005 |
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Com. Reg. No.: |
998317 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Import & export of fine jewellery. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
name & address
AMY DIAM LTD.
RM A3, 5/F, BURLINGTON HOUSE,
90-94C NATHAN ROAD, TSIMSHATSUI, KOWLOON, HONG KONG.
TEL : 852 23677700
FAX : 852 23677779
EXECUTIVE SUMMARY
INCORPORATION DATE :
29-9-2005
REGISTRATION NO. :
998317
REGISTERED LEGAL FORM : PRIVATE
LIMITED CO.
CHIEF EXECUTIVE : SHAH GIRISHKUMAR GIRDHARLAL (DIRECTOR)
STAFF STRENGTH :
4 (SHARING WITH ITS AFFILIATE)
AUTHORIZED CAPITAL :
HKD $1M = 1M SHARES @HKD $1.-
PAID-UP
CAPITAL : HKD$1M
BUSINESS LINE :
IMPORT & EXPORT OF FINE JEWELLERY
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.81313 = USD1 AS OF 2007-04-19
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.
998317 on 29-9-2005.
SC's shareholders & directors are shown to be as follows:
Shareholders (as at 8-3-2007) Number
of shares held
Shah Girishkumar Girdharlal 600,000
Shah Heena Girish 400,000
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1,000,000
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Directors (as at 29-9-2006)
Shah Girishkumar Girdharlal / K911666(4)
Shah Heena Girish / P044496(4)
Mehta Jatinkumar Dinesh Chandra / F0100233
Our current search revealed certain material change or amendment of SC
has been recorded within the last 2 years & noted as follows:
Change in capital
: Authorised capital was increased from HKD $10,000 to the present amount on
8-3-2007
with the creation
of 990,000 shares of HKD $1.-.
Paid-up capital: HKD $1M.
Shares allotments on 8-3-2007:
Allottee(s) No.
of share(s)
Shah Girishkumar Girdharlal 599,994
Shah Heena Girish 399,996
Shah Girishkumar Girdharlal, director:
- In his early 50's & married
- He is by Indian nationality
- Moved to HONG KONG from India in his mid 20's
Currently active in SC's day-to-day operations & is responsible for
its management.
Registered residential address: Flat J, 12/F, Windsor Mansions, 17
Austin Avenue, Tsimshatsui, Kowloon, HONG KONG.
Credit history
check : This refers to a check of our
database whether the said person has been involved in any of
the following
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
Shah Heena Girish, partner:
- In his mid 30's & married
- He is by Indian nationality
Currently active in SC's day-to-day operations & is responsible for
its management.
Registered residential address: Same as Shah Girishkumar Girdharlal.
Property ownership: Current land search indicates the said premises
ownership as follows:
- Owner(s) : Shah Girishkumar Girdharlal
- Date of purchase & consideration : NA
- Date of mortgage & secured amount : 7-9-2001 / ANS
- Mortgagee : Antwerpse Diamantbank NV
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 : 60 (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.
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 29-9-2006 was NA.
Banking relations are maintained principally with:
- HSBC
- Antwerpse Diamantbank N.V.
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 records 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): (x) see below ( ) see per attached
Creation date : 2-6-2006
Charger(s) :
SC
Chargee(s) :
Antwerpse Dimantbank N.V.
Secured amount : ANS
Charge particulars : Debenture
Mortgage Index:
Year(s) in which mortgage registration(s) are filed: 2006
Year(s) in which mortgage satisfaction
record(s) are filed: Nil
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.
Business categories:
SC is engaged in import & export of fine jewellery.
Items available include agate, topaze, ruby, sapphire, diamond, precious
& other semi-precious stones.
Principal purchases :
Major
types of sourcing : Precious
& semi-precious stones
Local--type
of suppliers : Nil
Buying
terms : Nil
Overseas--supplying
countries : India, South Africa & SE
Asia
Buying
terms : L/C
& T/T
Principal market :
Local--type
of customers : Wholesalers,
retailers, exporters & distributors
Selling
terms : Special
agreed terms
Overseas--buying
countries : PR China & Africa
Selling terms : L/C & T/T
Total number of employees : 4 (sharing
with its affiliate).
Location : Maintaining
its office at the heading business address which occupies a gross area of 850
square feet 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) : Shah Girishkumar Girdharlal & Shah Heena Girish
- Date of purchase & consideration : 7-7-2004 / HKD $1.8M
- Date of mortgage & secured amount : 31-7-2004 / ANS
- Mortgagee : GE Capital (Hong Kong) Ltd.
Jointly occupying the premises with the
below mentioned affiliate.
Affiliate(s):
Company name :
Amy Diam
Year established : 1990
Business nature : Similar to SC
Address : Same as heading business
address
Turnover :
NA
Civil litigation & winding-up petition records: None in our database
SC is considered small-sized in its line locally with acceptable base to
meet its normal dealings.
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%)