MIRA
INFORM REPORT
|
Report Date : |
10.12.2007 |
IDENTIFICATION
DETAILS
|
Name : |
FINE DIAMOND (HK) LTD. |
|
|
|
|
Registered Office : |
Flat D, 12/F, Cameron Plaza, 23-25 Cameron Road,
Tsimshatsui, Kowloon |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
19-2-1991 |
|
|
|
|
Com. Reg. No.: |
299955 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Engaged in import & export of diamond. |
RATING &
COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
Status : |
Small Company |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
name & address
FINE DIAMOND (HK) LTD.
FLAT D, 12/F, CAMERON PLAZA, 23-25 CAMERON ROAD,
TSIMSHATSUI, KOWLOON, HONG KONG.
TEL : 852 27391022
FAX : 852 23113810
EXECUTIVE SUMMARY
INCORPORATION DATE :
19-2-1991
REGISTRATION NO. :
299955
REGISTERED LEGAL FORM : PRIVATE
LIMITED COMPANY
CHIEF EXECUTIVE : MR. JHAVERI ALPESH SHANTICHAND (DIRECTOR)
STAFF STRENGTH :
3
AUTHORIZED CAPITAL :
HK$3M = 0.3M SHARES @ HK$10.-
PAID-UP
CAPITAL : HK$3M
BUSINESS LINE :
IMPORT & EXPORT OF DIAMOND
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 : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.79524 = USD1
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.
299955 on 19-2-1991.
SC's shareholder(s) & director(s) are shown to be as follows:
Shareholder(s) (as at 25-10-2007) Number
of shares held
- Jhaveri Alpesh Shantichand 180,000
- Jhaveri Poorvi Alpesh 120,000
----------
300,000
======
Director(s) (as at 19-2-2007)
- Jhaveri Alpesh Shantichand / P157685 (6)
- Jhaveri Poorvi Alpesh / P176479 (2)
The above registration information is based on SC's annual return filed
at Companies Registry within the last 2 years.
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: Authorized capital was increased from HK$100,000 to the present amount on 25-10-2007 with the creation of 0.29M shares of HK$10.-.
Paid-up capital: HK$3M.
Shares allotments on 25-10-2007:
Allottee(s) No.
of share(s)
- Jhaverialpesh Shantichand 174,000
- Jhaveripoorvi Alpesh 116,000
Total number of employees: 3.
Location: Maintaining
its office at the heading business address which occupies a gross area of 700
square feet at a commercial building in a commercial & shopping district.
Condition inside the premises during our
visit: Normal.
Office/factory layout: Standard.
The premises are rented.
Jhaveri Alpesh Shantichand, director:
- In his 40's & married
- 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.
Registered residential address: Flat 3, 12/F, Kiu Fung Mansion, 18
Austin Avenue, Tsimshatsui, Kowloon, HK.
Property ownership: Current land search indicates the said premises
ownership as follows:
- Owner(s) : Jhaveri Alpesh Shantichand & Jhaveri Poorvi Alpesh
- Date of purchase / consideration : 31-1-2002 / HK$2.15M
- Date of mortgage / secured amount : 7-11-2006 / ANS
- Mortgagee : Public Bank Berhad
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
Jhaveri Poorvi Alpesh, director:
- In her 40's
- She is by Indian nationality
Currently active in SC's day-to-day operations & is responsible for
its management.
Registered residential address: Same as Jhaveri Alpesh Shantichand.
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 : 58 (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 19-2-2007 was nil.
Banking relations are maintained principally with: HSBC.
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): None filed since its incorporation date.
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 & export of diamond.
Principal purchases:
Major
types of sourcing : Diamond
Local--type
of suppliers : Nil
Buying
terms : Nil
Overseas--supplying
countries : India, Belgium & Israel
Buying
terms : L/C
& T/T
Principal market:
Local--type
of customers : Nil
Selling
terms : Nil
Overseas--buying
countries : USA & Europe
Selling
terms : L/C
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. Credit
dealings of small amount may be considered.
-- Asset Tracing --
Upon our current investigation, our database & sources consulted
indicate that SC was not involved in any property transaction (both purchase
& disposal) in Hong Kong for the last 6 years.
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)