MIRA
INFORM REPORT
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Report Date : |
10.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
BEAUTY DIAM |
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Registered Office : |
Rm 6, 9/F, Hart Avenue Plaza, 5-9
Hart Avenue, Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
15-1-1997 |
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Com. Reg. No.: |
20640474 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged In trading of jewellery &
diamond |
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 |
Name & address
BEAUTY-DIAM
RM 6, 9/F, HART AVENUE PLAZA,
5-9 HART AVENUE, TSIMSHATSUI, KOWLOON,
HONG KONG.
TEL: 852 23664475
FAX: 852 23664076
EXECUTIVE SUMMARY
INCORPORATION DATE : 15-1-1997
REGISTRATION NO. : 20640474
REGISTERED LEGAL FORM : SOLE
PROPRIETORSHIP
CHIEF EXECUTIVE : KALA PIYUSH BHAGCHAND
(SOLE PROPRIETOR)
STAFF STRENGTH :
3
AUTHORIZED CAPITAL : [IN HONG KONG, UNLIMITED
COS. ARE NOT REQUIRED
TO FILE ITS CAPITAL
PARTICULARS TO BR OFFICE (THE
INLAND REVENUE)]
PAID-UP
CAPITAL : NOT APPLICABLE
BUSINESS LINE : TRADING OF JEWELLERY & DIAMOND
TURNOVER :
HKD53M (YEAR ENDED 31-3-2006)
EQUITIES :
N/A (AS OF DEC. 31, 2005)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE :
MODERATE AMOUNT
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND :
FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.77554 = USD1 AS OF 2006-08-22
SC was established under Business
Registration number 20640474 on 15-1-1997 with present status as sole
proprietorship.
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
- Kala Piyush Bhagchand /
R3632260 Flat
9C, Bo Yip Bldg.,
6
Ashley Road,
Tsimshatsui,
Kowloon, Hong Kong.
Certain material change or amendment
regarding SC within the last 4 years has been traced & noted as follows:
Change of business address : SC
moved to the heading business address from Rm 4, Blk B, 14/F, Prat Mansion,
26-36 Prat Avenue, Tsimshatsui, Kowloon, Hong Kong in March 2004.
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 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) : In Hong Kong, unlimited companies are
not required to file its charge particulars for public inspection.
Kala Piyush Bhagchand, sole proprietor:
- Born in 1973
- He graduated with a Bachelor of
Commerce degree
- Embarked upon his career to present
field as a junior salesman in his mid 20's
- Moved to Hong Kong from India in 1996
Currently active in SC's day-to-day
operations & is responsible for its management.
Registered residential address: As
stated above.
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.
Business categories :
SC is engaged in trading of jewellery
& diamond. Items available include
necklaces, wrist chains, rings, earrings and diamond.
SC's suppliers include:
- Savani Brothers
Principal purchases :
Major types of sourcing :
Merchandise
Local--type of suppliers :
Importers & distributors
Buying terms :
Credit of 150 days
Overseas--supplying countries : India & Belgium
Buying terms :
T/T & D/A
Principal market :
Local--type of customers :
Local jewellery manufacturers
Selling terms :
Credit of 150-270 days
Overseas--buying countries :
Nil
Selling terms :
Nil
Total
number of employees : 3.
Location
: Maintaining its
office at the heading business address which occupies a gross area of 450
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 is rented.
SC is not known to have any subsidiary at present.
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 operation, SC is not
an active seeker of local
commercial credit. Its expenses in the form of accruals and
servicing are reportedly met in a 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.
Banking relations are maintained
principally with:
- Hang Seng Bank Ltd.
- HSBC
- The Bank of East Asia Ltd.
Upon a current contact, Kala Bhagchand,
SC's sole proprietor, disclosed that SC currently has a business loan
(non-secured) of HKD500,000 in HSBC. The monthly repayment amount is HKD30,000
Upon a current contact, Kala Piyush Bhagchand, SC's sole
proprietor, refused releasing detailed financial data but advised that SC's
turnover for the year ended 31-3-2006 was HKD53M.
In addition, SC's net profit for the
year ended 31-3-2006 was HKD2.3M.
SC is considered small-sized in its line
locally with acceptable base to meet its normal dealings. Credit up to moderate amount may be
considered.
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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