MIRA
INFORM REPORT
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Report Date : |
24th
January, 2007 |
IDENTIFICATION DETAILS
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Name : |
SIMI-DIAM
LTD. |
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Registered Office : |
Rm 1301, 13fl |
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Country : |
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Date of Incorporation : |
03.06.1988 |
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Com. Reg. No.: |
217477 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Engaged
in the distribution of polished diamonds and other jewellery. |
RATING & COMMENTS
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MIRAs 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/normal. |
Small |
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Maximum Credit Limit : |
USD 20,000 |
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Status : |
Small
Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
Company Name & Address
SIMI-DIAM LTD
RM 1301, 13FL
TEL : 852 27368018
FAX : 852 27359116
EXECUTIVE SUMMARY
INCORPORATION DATE :
JUNE 3, 1988
REGISTRATION NO. :
217477
CHIEF EXECUTIVE :
MS. PRITI YOGESH SHAH (CHAIRMAN)
STAFF STRENGTH :
5
CAPITAL :
US$ 257,400
BUSINESS LINE :
TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2005)
EQUITIES :
N/A (AS OF DEC. 31, 2005)
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND : FAIRLY
STEADY
GENERAL REPUTATION :
AVERAGE
EXCHNAGE RATE :
HKD 7.80032 = US$1 AS OF 2007-1-24
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
HKD
*Company Registration*
===================
(1)
License number : 217477
Date issued : 3 June, 1988
Issuing authority : Companies Registry
Type of license : Corporate
(2)
License number : 11916129
Issuing authority : Business Registration Office -
Inland Revenue Dept
Type of license : Business
*Capital Details*
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Share value : HKD 1.00/-each
Authorized capital :
HKD 2,000,000.00 divided by 2,000,000 ordinary shares
Paid-up capital : HKD 1,805,000.00
*Registrar*
=========
- TOTAL CORPORATE SERVICES LTD
*Corporate & Organization Structure*
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A small company mainly operated and managed by an experienced team
of professionals.
*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.
*Approved Signatures*
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Only Mr. Priti Yogesh Shah can sign on behalf of the company with
seal affixed.
E-mail : simi_diam@hotmail.com
For the past two years there is no record of litigation.
*Major Shareholders*
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Total number of shareholders
: 2
Total number of ordinary shares : 1,805,000
Shareholders' Name
No. of Ordinary Shares
Amount of Shares (HKD)
% of Shares
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Priti Yogesh Shah 1,804,999 1,804,999.00 100
Noohu A. M. Thaika 1
1.00 -
*Director's Details*
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Noohu A. M. Thaika
HKID number : XG470206(2)
Address : 1706 Tung Ma House Fu Tung Estate TungChung
Lantau,
*Company Secretary*
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Noohu A. M. Thaika
HKID number : XG470206(2)
Address : 1706 Tung Ma House Fu Tung Estate TungChung
Lantau,
*Key Personnel*
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Priti Yogesh Shah
Founder : Co-Founder
HKID number : K827735(4)
Address : House 27,
Responsibilities : Handles the daily operation of the
firm including all financial, sales and legal
matters.
Work experience : More than 15 years
*Main Products & Services*
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Specializes in the distribution of polished diamonds and other
jewelry.
Products : Diamonds
Jewelry
Polished diamonds
*Payment Terms*
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Sales
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Local : Cash
30-90
days credit
Exports : Letter
of Credit (L/C)
Telegraphic
Transfer (T/T)
Purchases
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Import : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
*Local Distribution Network*
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20% of the annual turnover is attributed to local sales.
*Export Markets*
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80% of the annual turnover is attributed to export.
SC is not known to have any subsidiary at present.
PAYMENT RATING : 3 OBTAINED SCORES : 55
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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 SMALL amounts
depending on individual judgement experience.
As a private limited company there is no legal requirement
according to local corporate law for public disclosure of detailed financials.
*Bank Details*
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Bank : UCO BANK
Branch :
SC is considered small-sized in its line with favorable market
conditions. It is considered a credit line up to USD 20,000 appears to be
within SCs capacities.
ATTACHED: TRADE
REFERENCES
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Service 5944 Jewelry Stores
Trading 3961 Jewelry of materials other than solid gold, platinum
& silver
Trading 5094 Jewelry/Watches/Precious Mtl
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 7102 Diamonds, worked or not, not mounted or set
Trading 7102100000 Diamonds, unsorted
Trading 7113 Articles of jewelry & parts, of precious metal or
clad
INTERNATIONAL TRADE : ACTIVITY & MARKETS
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Importing from
Importing from
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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