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MIRA
INFORM REPORT
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Report Date : |
20.08.2007 |
IDENTIFICATION
DETAILS
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Name : |
DIASQUA INTERNATIONAL LTD. T/A DIASQUA ( |
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Registered Office : |
RM 401-3, 4/F, Guardforce Centre, |
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Country : |
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Date of Incorporation : |
20-3-2000 |
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Com. Reg. No.: |
709126 |
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Legal Form : |
Private Limited Co |
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Line of Business : |
Import & Supply of Diamond & Gemstones |
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 : |
Regular |
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Litigation : |
Clear |
COMPANY NAME &
ADDRESS
DIASQUA INTERNATIONAL LTD. T/A DIASQUA (
RM 401-3, 4/F, GUARDFORCE CENTRE,
TEL: 852 2209 6600
FAX: 852 2209 6620
EXECUTIVE SUMMARY
INCORPORATION DATE :
20-3-2000
REGISTRATION NO. :
709126
REGISTERED LEGAL FORM :
PRIVATE LIMITED CO.
CHIEF EXECUTIVE :
MEHTA NIMESH PIYUSH (DIRECTOR)
STAFF STRENGTH :
30.
AUTHORIZED CAPITAL :
HKD $40M = 40M SHARES @HKD$1.-
PAID-UP CAPITAL :
HKD $40M
BUSINESS LINE :
IMPORT & SUPPLY OF DIAMOND & GEMSTONES
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND :
FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.82322 = USD1 AS OF 2007-08-13
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
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The complete address of SC is the heading one instead of the one given
by you.
SC is a private limited company registered under incorporation file no.
709126 on 20-3-2000.
SC's shareholders & directors are shown to be as follows:
Shareholder(s) (as at 20-3-2007) Number
of shares held
- Mehta Nimesh Piyush 10,000,000
- Mehta Rajul Nimesh 10,000,000
- Mehta Romy Piyush 10,000,000
- Mehta Vimesh Piyush 10,000,000
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40,000,000
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Director(s) (as at 20-3-2007)
- Mehta Nimesh Piyush / P146336(9)
- Mehta Priti Romy / R151747(2)
- Mehta Rajul Nimesh / P195864(3)
- Mehta Romy Piyush / R148936(3)
The above registration information is based on SC's annual return filed
at Companies Registry within the last 2 years.
SC has 3 trade names as follows:
- Diasqua (HK)
- Diaglobe (HK)
- Diajewel (HK)
SC's group formerly named "The ICD Works".
SC was incorporated in 1933 in
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Mehta Nimesh Piyush, director:
- In his 50's & married
- He is by Israeli nationality
- Moved to Hong Kong from
- Also currently director of:
~ Prismdia Ltd.
~ Gemasia (
Currently active in SC's day-to-day operations & is responsible for
its management.
Registered residential address: Flat B2, 20/F, Greenfield Terrace,
Property ownership: Current land search indicates the said premises
ownership as follows:
- Owner(s) : Mehta Nimesh Piyush & Mehta Rajul Nimesh
- Date of purchase / consideration : 1-8-2000 /HKD $ 4.8M
- Date of mortgage / secured amount : 30-10-2003 / ANS
- Mortgagee : Bank of
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
Mehta Rajul Nimesh, director:
- In her 40's & married
- She is by Israeli nationality
Currently active in SC's day-to-day operations & is responsible for
its management.
Registered residential address: Same as Mehta Nimesh Piyush.
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:
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
Civil litigations : (X) see below ( ) see per attached
Date : 14-11-2003
Defendant(s) : The said person
Plaintiff(s) : Lam Ting Ho
Paul
Cause of claims : Motor Claims
Claimed amount: ANS
Ownership background appraisal:
Rating : 2 Obtained
scores : 70 (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.
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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 20-3-2007 was nil.
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Banking relations are maintained principally with:
- Bank of
- DBS Bank (HK) Ltd.
- Bank of
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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
Civil litigation/winding-up petitions: None
in our database.
Mortgage/charge record(s) : (x) see below (
) see per attached
Creation date :
17-5-2005
Charger(s) :
SC
Chargee(s) :
Bank of
Secured amount :
US$1.4M
Charge particulars :
Letter of Lien
Creation date :
31-10-2005
Charger(s) :
SC
Chargee(s) :
DBS Bank (HK) Ltd.
Secured amount :
ANS
Charge particulars :
Mortgage (Flat D, 8/F, Sunrise Villa, 33 Sung On St., Kln.,
Creation date :
9-5-2006
Charger(s) :
SC
Chargee(s) :
Commonwealth Finance Corporation Ltd.
Secured amount :
ANS
Charge particulars :
Letter of Hypothecation of Trade Finance
Creation date :
12-5-2006
Charger(s) :
SC
Chargee(s) :
Commonwealth Finance Corporation Ltd.
Secured amount :
ANS
Charge particulars :
Charge Over Deposits (Deposit: US$0.3M)
Creation date :
7-7-2006
Charger(s) :
SC
Chargee(s) :
Bank of
Secured amount :
US$3M
Charge particulars :
Letter of Lien **
** Details of the said charge particulars (letter of lien):
- Nature of deposit :
Term deposits
- Date of deposit :
7-7-2006
- Amount :
US$750,000
- Due date :
7-7-2007
- Interest rate :
5.00%
- Mode of payment of interest :
Cumulate
Creation date :
23-3-2007
Charger(s) :
SC
Chargee(s) :
HSBC
Secured amount :
HKD$ 3.9M
Charge particulars :
Security over deposits with the bank(a/c no.181-8-618744)
Creation date :
3-7-2007
Charger(s) :
SC
Chargee(s) :
HSBC
Secured amount :
ANS
Charge particulars :
Mortgage (address: Flat B, 26/F, Tower 2, Bailey Garden, Kln.,
Mortgage Index:
Year(s) in which mortgage registration(s) are filed: 2003, 2006 &
2007
Year(s) in which mortgage satisfaction record(s) are filed: 2004, 2005
& 2007
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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 : Owing to the
nature of its business, SC is not an active seeker of local
commerical credit since
merchandise/materials are imported. Its expenses in
the form of accruals and servicing are
reportedly met in prompt manner.
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.
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Business categories:
SC is engaged in import & supply of diamond & gemstones.
Items available include a wide range of polished diamonds in various
sizes, colours & shapes as follows:
- Sizes: From 0.005 ct. (1/200)
to 3.00 ct.
- Colors: White from the light
to the darker, brown, capes & other natural fancy colors
- Shapes: Brilliant, princess,
marquise, pear, rose-cut, tapper & banguette, briolette, heart, oval.
Principal purchases :
Major types of sourcing :
Merchandise
Local--type of suppliers :
Nil
Buying terms :
Nil
Overseas--supplying countries :
Buying terms :
L/C & T/T
Principal market :
Local--type of customers :
Manufacturers & retailers
Selling terms :
COD & credit of 30 to 45 days
Overseas--buying countries :
PR China,
Selling terms :
L/C & T/T
Total number of employees : 30.
Location : Maintaining its office & workshop at the heading business address
which occupies a gross area of 3,500 sq. ft. at an industrial building in an
industrial district.
Condition inside the premises during our visit :
Office/factory layout : Standard.
The premises is owned by SC.
Property ownership : Current land search indicates the ownership details
of the heading premises as follows:
- Owner(s) : SC
- Date of purchase / consideration : 15-4-2004 / HKD$ 20,180,000
- Date of mortgage / secured amount : 15-4-2004 / ANS
- Mortgagee : DBS Bank (HK) Ltd.
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SC is not known to have any subsidiary at
present.
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From all indications, SC is believed to have made a steady and
successful trend of development. Credit
in the range of moderate amount can be considered.
NOTES:
Current land search indicates that SC owns the following premises:
- Address: Flat D, 8/F,
- Owner(s): SC
- Date of purchase / consideration: 31-10-2005 / HKD$ 2.7M
- Date of mortgage / secured amount: 31-10-2005 / ANS
- Mortgagee: DBS Bank (HK) Ltd.
Current land search indicates that SC was involved in the following
property transaction:
- Address: Unit 2, 8/F,
Guardforce Centre,
- Assignor: SC
- Assignee: Komal Gems Ltd.
- Date of disposal & consideration:
26-4-2004 / HKD$ 2,592,550
The said premises was formerly purchased by SC at a consideration of
HKD$ 1,962,880 on 26-9-2003.
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. |
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%)