MIRA
INFORM REPORT
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Report Date : |
24.08.2007 |
IDENTIFICATION DETAILS
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Name : |
BLOSSOM DIAMONDS |
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Registered Office : |
Room B, 9/F, |
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Country : |
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Date of Incorporation : |
17-9-2003 |
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Com. Reg. No.: |
33919010 |
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Legal Form : |
Partnership |
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Line of Business : |
Engaged in import & re-export of diamond & gemstones. |
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. |
Small |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
BLOSSOM DIAMONDS
ROOM B, 9/F,
TEL : 852 27398299
FAX : 852 27399200
EXECUTIVE SUMMARY
INCORPORATION DATE :
17-9-2003
REGISTRATION NO. :
33919010
REGISTERED LEGAL FORM :
PARTNERSHIP
CHIEF EXECUTIVE : KAKADIA HASMUKHBHAI RAGHAVBHAI (PARTNER)
STAFF STRENGTH :
3.
AUTHORIZED CAPITAL : [IN HK, UNLIMITED COMPANIES ARE
NOT REQUIRED TO FILE ITS
CAPITAL
PARTICULARS TO BR OFFICE (THE INLAND REVENUE)]
PAID-UP
CAPITAL : N/A
BUSINESS LINE :
IMPORT & RE-EXPORT OF DIAMOND & GEMSTONES
TURNOVER :
N/A (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 7.80846 = USD1 AS OF 2007-8-24
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M – million
HKD –
The given name "Blossoms Diamonds" is not in the Business
Registration Office in HK.
Based on your given address, we believe that your search target is
"Blossom Diamonds".
SC was established under Business Registration number 33919010 on
17-9-2003 with present status as partnership.
Currently obtained BR copy indicate the particulars of SC's principal(s)
are as follows:
Name(s) of principal(s) & ID/Passport
number(s) Registered
address
- Kakadia Hasmukhbhai Raghavbhai Block A,
16/F, Hang Lung Bank Bldg.
/ B2742289
- Lakhani Vijay Vallabhbhai 71
/ E7737634
Certain materials change or amendment regarding SC within the last 4
years has been traced & noted as follows:
Change of co. name : SC was formerly named Blossom Diamond's and adopted
present name on 2-1-2004.
Change of business address : SC moved to the heading business address
from Room 1206,
Change in principal(s):
Name(s) of admitted partner(s) Joining
date
Lakhani Vijay Vallabhbhai 8-10-2004
Name(s) of retired partner(s) Leaving
date
Nil Nil
Total number of employees : 3.
Location : Maintaining
its office at the heading business address which occupies a gross area of 500
square feet at a commercial building in a commercial & shopping district.
Condition inside the premises during our
visit :
Office/factory layout : Standard.
The premises is rented.
Kakadia Hasmukhbhai Raghavbhai, partner:
- In his mid 50's
- He is by Indian nationality
- Embarked upon his career to present field as a junior salesman in his
mid 20's
Currently active in SC's day-to-day operations & is responsible for
its management.
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
Lakhani Vijay Vallabhbhai, partner & co-founder:
- He is by Indian nationality
Currently residing in
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 : 57 (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.
Upon a current contact, Mr. Sadish, SC's office-in-charge, declined
forwarding any financial information on the ground that it is the company's policy
not releasing any data to a third party without the benefit of knowing the
identity of the inquiring party.
Re: In HK, only the public listed
cos., financial institutions & overseas cos. are obligated to file their
financial statements to Companies Registry for public search. Generally, the private limited cos. &
unlimited cos. always keep those data as highly confidential matter.
Banking relations are maintained principally with:
- HSBC
- Bank of
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) : In HK, unlimited companies are not required
to file its charge particulars for public inspection.
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 commercial 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.
Business categories :
SC is engaged in import & re-export of diamond & gemstones.
Items available include ruby, emerald, sapphire & diamond.
Principal purchases :
Major
types of sourcing :
Merchandise
Local--type
of suppliers : Nil
Buying
terms : Nil
Overseas--supplying
countries :
Buying
terms : L/C
& D/A
Principal market :
Local--type
of customers : Nil
Selling
terms : Nil
Overseas--buying
countries : PR China (mainly)
Selling
terms : D/P &
D/A
SC is not known to have any subsidiary at
present.
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. |
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%)