MIRA
INFORM REPORT
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Report Date : |
06.08.2007 |
IDENTIFICATION
DETAILS
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Name : |
DIDI'S JEWELLERY LTD |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
April 6, 1990 |
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Com. Reg. No.: |
0275186 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacture, export and wholesale distribution of fine jewelry in
karat gold set with diamonds, precious stone and pearls. |
RATING &
COMMENTS
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MIRAs 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 : |
Regular |
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Litigation : |
Clear |
name &
address
DIDI'S JEWELLERY LTD
TEL : 852- 23676824
FAX : 852- 23114682
EXECUTIVE SUMMARY
INCORPORATION DATE :
APRIL 6, 1990
REGISTRATION NO. :
0275186
LEGAL FORM :
PRIVATE LIMITED COMPANY
CHIEF EXECUTIVE :
MR. LAJU HARESH DASWANI (CHAIRMAN)
STAFF STRENGTH :
200
CAPITAL :
US$ 63,939
BUSINESS LINE :
MANUFACTURER
TURNOVER :
US$962,772.79 (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.82856 = US$1 AS OF 2007-8-6
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M million
HKD
*Company History*
===============
1967 -
Established as a wholesaler of colored stone and shifted into wholesale diamond
after 10
years.
1999 -
Established its own workshop instated with 50 craftsmen.
*Company Registration*
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(1)
License number : 0275186
Date issued : 6 April,
1990
Issuing authority : Companies
Registry
Legal form : Private
Limited Company
Type of license : A company
owned by shareholders, incorporated with limited liability and confirmed with
the respective Government authorities to legally exist.
(2)
License number : 13497317-000
Date issued : N/A
Issuing authority : Business
Registration Office - Inland Revenue Dept
Type of license : Business
(3)
License number : 13497317-001
Date issued : N/A
Issuing authority : Business
Registration Office - Inland Revenue Dept
Type of license :
Business
*Office & Facilities*
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Type of building : Commercial building
Other Contact Details
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Tel no. : 81486340
Website : www.tdctrade.com/didi
*Corporate & Organization Structure*
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A family-owned business mainly operated by the owners.
*Capital Details*
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Authorized capital : HKD 500,000.00 divided into 500,000 ordinary shares
at HKD 1.00/-each, fully paid
*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.
*Approved Signatures*
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Only Mr. Laju Haresh Daswani can sign on behalf of the company with seal
affixed.
E-mail: didishk@didisgroup.com
For the past two years there is no record of litigation.
*Major Shareholders*
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Total number of shareholders
: 3
Total number of ordinary shares : 500,000
Shareholders' Name No. of Ordinary Shares Amount of Shares (HKD)
% of Shares
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Padma Vashdev Nainani
350,000 350,000.00 70.00
Laju Haresh Daswani 100,000 100,000.00 20.00
Shyam Vashdev Nainani
50,000 50,000.00 10.00
*Director's Details*
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Mr. Padma Vashdev Nainani
HKID no. : XE342278(8)
Address : Suite B1, 10F
*Company Secretary*
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(1)
Ms. Canny Tam
Email address : canny@didisgroup.com
(2)
Mr. Sanjay Vashdev Nainani
HKID no. :
K015994(8)
Address :
Date of appointment : 6 April, 2007
Previous Corporate Secretary
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J & B SECRETARIAL CO LTD
Date resigned : 6 April, 2007
Management: Ms. Laura Lam,
Assist. Director
Ms. Laju Haresh Daswani, CEO
Name Nationality
Job Description
Ms. Laura Lam
Ms. Laju Haresh Daswani
*Key Personnel*
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(1)
Mr. Laju Haresh Daswani
HKID no. :
XG1140G3(2)
Address : 2Fl,
Responsibility : Handles the
overall management of the company
(2)
Ms. Laura Lam
Email :
laura@didisgroup.com
*Main Products & Services*
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Specializes in the manufacture, export and wholesale distribution of
fine jewelry in karat gold set with diamonds, precious stone and pearls.
Products also include :
- 14K diamond bangle
- Yellow gold men's ring
- 18k diamond ring
- 18k ruby diamond bracelet
- 18k diamond earrings
- 18k emerald diamond bracelet
- 14k diamond pendant
Products: 14k gold jewelry
Bangles
Bracelets
Bridal jewelry
Brooches
*Payment Terms*
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Sales
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Local : Cash or Credit
Export : Letter of Credit (L/C)
Telegraphic Transfer
(T/T)
Purchases
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Local : Cash or Credit
Import : Letter of Credit (L/C)
Telegraphic Transfer
(T/T)
*Local Distribution Network*
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Part of the annual turnover is attributed to local sales.
*Export Markets*
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Part of the annual turnover is attributed to export.
SC is not known to have any subsidiary at
present.
PAYMENT RATING : 3 OBTAINED SCORES :
58
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Implication |
Implications |
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1 |
Scores 85100 |
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 MODERATE 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*
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Bank Name : HONG KONG & SHANGHAI BANKING CORP LTD, THE
Branch : Central,
Branch Address : Basement Level HSBC Main Bldg 1 Queen's Rd
SWIFT Code : HSBCHKHH
Financial Summary (Currency:
==============================
Year Sales Assets Net Income
2006 $962,772.79 n/a n/a
SC is considered a normally advancing concern with steady customers and
good base to meet its trade engagements.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 3911 Jewelry,
of precious metal
Exporting 3961 Jewelry
of materials other than solid gold, platinum & silver
Exporting 5094 Jewelry/Watches/Precious
Mtl
Manufacturing 3911 Jewelry,
of precious metal
Manufacturing 3961 Jewelry
of materials other than solid gold, platinum & silver
Manufacturing 5094 Jewelry/Watches/Precious
Mtl
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 7113 Articles of jewelry & parts,
of precious metal or clad
Exporting 7116201000 Jewelry of precious or semiprecious stones
Manufacturing 7100 Pearls,
stones, prec. metals, imitation jewelry, coins
Manufacturing 7113 Articles
of jewelry & parts, of precious metal or clad
Manufacturing 7113192900 Gold
necklaces and neck chains
Manufacturing 7113195000 Gold
jewelry, goldsmiths wares and other gold articles
Manufacturing 7113202900 Necklaces
and neck chains of base metal clad with gold
Manufacturing 7116201000 Jewelry
of precious or semiprecious stones
Manufacturing 7117 Imitation
jewelry
Manufacturing 9101 Watches,
wrist, pocket etc, prec metal or clad case
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Manufacturer Necklaces
Manufacturer Pendants
Manufacturer Rings
Manufacturer Jewelry
Manufacturer Brooches
Manufacturer Imitation
jewelry
Manufacturer Fine jewelry
Manufacturer Gold jewelry
Manufacturer Watches
Manufacturer 14k gold
jewelry
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to UAE
Importing from
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 SCs 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%)