MIRA
INFORM REPORT
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Report Date : |
07.08.2007 |
IDENTIFICATION DETAILS
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Name : |
DIAMOND MINE CORP LTD |
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Registered Office : |
Rm |
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Country : |
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Date of Incorporation : |
02.10.2003 |
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Com. Reg. No.: |
0864105 |
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Legal Form : |
Private |
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Line of Business : |
Trading wide range of jewelry |
RATING & COMMENTS
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MIRAs 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 : |
Usually Correct |
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Litigation : |
Clear |
COMPANY NAME &
ADDRESS
DIAMOND MINE CORP LTD
RM 1316 PENINSULA SQUARE 18 SUNG ON ST HUNGHOM KOWLOON,
TEL: [+852] 27398299
FAX: [+852] 27399200
EXECUTIVE SUMMARY
INCORPORATION DATE OCTOBER
2, 2003
REGISTRATION NO 0864105
LEGAL FORM PRIVATE
CHIEF EXECUTIVE MR.
GIRISH VASHARAMBHAI BAGADIA (COMPANY DIRECTOR)
STAFF STRENGTH 3
CAPITAL US$
1,279
BUSINESS LINE TRADER
TURNOVER N/A
(AS OF DEC. 31, 2006)
EQUITIES N/A
(AS OF DEC. 31, 2006)
PAYMENT FAIR
RECOMM.
MARKET CONDITION FAIR
FINANCIAL CONDITION N/A
OPERATIONAL TREND FAIRLY
STEADY
GENERAL REPUTATION AVERAGE
EXCHANGE RATE HKD
7.82873 = USD1 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 Hong Kong
Dollars
*Company Registration*
===================
License number : 0864105
Date issued
: 2 October, 2003
Issuing authority : Companies Registry
Type of license : Corporate
Legal form
: Private Company Having
Share Capital
License number : 34086862-000
Date issued
: N/A
Issuing authority : Business Registration Office -
Inland Revenue Dept
Type of license : Business
*Capital Details*
==============
Share value
: HKD 1.00/-each
Authorized capital : HKD 10,000.00
Paid-up capital : HKD 2.00 divided into 2 ordinary
shares
*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. Vijay Vallabhbhai Lakhani can sign on behalf of the
company with seal affixed.
*Company Secretary*
=================
VINFORD LTD
Address :
Rm 1813 Wellborne Commercial Centre
CR no. :
346328
SC is not known to host website of its own at present
For the past 4 years there is no record of litigation.
*Major Shareholders*
=================
Total number of shareholder :
1
Total number of ordinary shares : 2
Shareholder's Name No. of Ordinary Shares Amount of Shares (HKD) % of Shares
--------------------------- ------------------------------ ----------------------------------- ----------------
Mr. Shital Girish Bagadia 2
2.00
100.00
Share transfer :
Date No of Shares Transferor(s)
Transferee(s)
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19 September, 2006
1 LUXURY INVESTMENT
LTD Mr. Shital Girish Bagadia
19 September, 2006
1 NOMIHOLD SECURITIES
INC Mr. Shital Girish Bagadia
*Directors' Details*
===============
Mr. Vijay Vallabhbhai Lakhani
Address
: Flat B 9Fl
Mr. Girish Vasharambhai Bagadia
Address
: Flat B 9Fl
Shareholder's Details
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Mr. Shital Girish Bagadia
Address : Rm
*Main Products & Services*
======================
Specializes in trading wide range of jewelry.
Products :
Diamond set jewelry
Jewelry
*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)
*Charge*
========
Total amount outstanding on all mortgages and charges which
are required to be registered with the Registrar of Companies pursuant to
sections 80 and 82 of the Companies Ordinance is HKD 3,770,000.00.
*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
worldwide.
SC is not known to have any subsidiary at
present.
PAYMENT RATING :4 OBTAINED SCORES : 45
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Rating Key |
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 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 Name :
WING LUNG BANK LTD
Branch :
Central,
Branch Address :
Wing Lung Bank Bldg
SWIFT Code :
WUBAHKHH
SC is considered small-sized in its line locally. With regard to its
size of operation and limited growth potential, credit should be confined to
small amount at present.
Attached: trade references
SIC
PRODUCT CLASSIFICATION & ACTIVITY
Activity
Code Product/Service Description
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 7113
Articles of jewelry & parts,
of precious metal or clad
Trading 7116201000
Jewelry of precious or semiprecious
stones
INTERNATIONAL
TRADE : ACTIVITY & MARKETS
Exporting
to
Exporting
to
Exporting
to
Importing
from
Importing
from
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%)