MIRA
INFORM REPORT
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Report Date : |
23.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
SIMPLEX DIAM LTD |
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Registered Office : |
Rm 1401-2, 14fl Nine Queen's Rd
Central |
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Country : |
Hong Kong |
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Date of Incorporation : |
May 2, 2002 |
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Com. Reg. No.: |
0796009 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Engaged in trading of jewelry and precious stones |
RATING & COMMENTS
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MIRAs 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
SIMPLEX DIAM LTD
RM
1401-2, 14FL NINE QUEEN'S RD CENTRAL, HONG KONG
TEL: 852 25226131
FAX: NA
EXECUTIVE SUMMARY
INCORPORATION DATE :
MAY 2, 2002
REGISTRATION NO. :
0796009
CHIEF EXECUTIVE :
MR. CARLOS KWOK-HING YEUNG (DIRECOR)
STAFF STRENGTH :
10
CAPITAL :
US$ 3,003,851
BUSINESS LINE :
TRADER
TURNOVER :
NA (AS OF DEC. 31, 2005)
EQUITIES :
NA (AS OF DEC. 31, 2005)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE :
MORDERATE AMOUNT
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
FAIRLY STABLE
OPERATIONAL TREND : FAIRLY
STEADY
GENERAL REPUTATION :
AVERAGE
EXCHNAGE RATE : HKD 7.77726 = US$1 AS OF 2006-11-3
*Company Registration*
===================
(1) License number : 0796009
Date issued : 2 May, 2002
Issuing authority : Companies Registry
Type of license
: Corporate
(2) License number : 32610085-000
Date issued : N/A
Issuing authority : Inland Revenue Dept.
Type of license
: Business
*Capital Details*
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Authorized capital : HKD 23,400,000.00 divided into
23,400,000 ordinary shares at HKD 1.00/-each, fully paid
*Reputation*
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Reference checking for the purpose of establishing
the firm's reputation within the respective industry failed to reveal any
negative information.
SC is not known to host website of its own at present.
For the
past two years there is no record of litigation.
*Major Shareholders*
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Total number of shareholders : 3
Total number of ordinary shares : 23,400,000
Shareholders' Name No. of Ordinary Shares Amount of Shares (HKD) % of Shares
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Milan Amratlal Shah 9,945,000 9,945,000.00 42.50
TREASURE WORLD
INVESTMENT LTD
9,945,000
9,945,000.00 42.50
JOYSTAR INT'L INVESTMENT
HOLDINGS LTD 3,510,000
3,510,000.00 15.00
*Director's Details*
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(1) Carlos Kwok-hing Yeung
HKID no : A620603(7)
Address : I12 Grenville House 1 Magazine Gap Rd,
Hong Kong
(2) Milan Amratlal Shah
HKID no. : R173007(9)
Address :
7Fl Ocean View Court 27A Chatham Rd South, Tsimshatsui, Kowloon
*Corporate Secretary*
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SILVER QUALITY CO LTD
Address
: Rm 1403B, 9 Queen's Rd Central Hongkong
Company no. : 199472
Name Nationality
Job Description
Mr. Carlos Kwok-hing Yeung Hong Kong Director
Mr. Martin Yeung Hong
Kong Sales Manager
Mr. Milan Amratlal Shah Hong Kong Director
Mr. Toto Chan Hong
Kong Sales Manager
*Key Personnel*
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(1) Martin Yeung
Education
: Business Administration Degree, PEPPERDINE UNIVERSITY, USA
Association : Member, Worldwide Chinese Investors
Association
(2) Toto Chan
Education
: Graduate, PARSONS SCHOOL OF DESIGN, USA
Association : Member, Worldwide Chinese Investors
Association
*Main Products & Services*
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Specializes in trading of jewelry and precious
stones.
Products : Jewelry
Precious stones
Watches
*Payment Terms*
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Sales
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Local : Cash or credit
Purchases
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Local : Cash or credit
*Local Distribution Network*
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100% of the annual turnover is attributed to local
sales.
*Export Markets*
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There is no record of export since the prime focus
of the firm's activity is concentrated on local sales only.
SC is
not known to have any subsidiary at present.
PAYMENT RATING :
3 OBTAINED SCORES : 50
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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 MODERATE
amounts depending on individual judgement experience.
As a privately-owned company there is no legal
requirement according to local corporate law for public disclosure of detailed
financials.
SC is considered small-sized in its line with favorable market
conditions. Credit dealings with SC in moderate amount can be considered.
Attached:
trade references
SIC
PRODUCT CLASSIFICATION & ACTIVITY
Activity
Code Product/Service
Description
Trading 3911 Jewelry, of precious metal
Trading 5094 Jewelry/Watches/Precious Mtl
HARMONIZED
PRODUCT CLASSIFICATION & ACTIVITY
Activity
Code Product/Service
Description
Trading 7103 Precious & semiprec stones, not strung etc
Trading 7113 Articles of jewelry & parts, of precious metal or
clad
Trading 7116 Articles of natural or cut pearls, prec/semprc stones
Trading 7116201000 Jewelry of precious or semiprecious stones
Trading 9101 Watches, wrist, pocket etc, prec metal or clad case
Trading 9102 Watches, wrist, pocket etc, case not prec nor clad
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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