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MIRA
INFORM REPORT
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Report Date : |
04.07.2007 |
IDENTIFICATION DETAILS
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Name : |
LAXMI DIAMOND (HK) LIMITED |
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Registered Office : |
R. No. 802, 8 /F, Guardforce CTR, |
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Country : |
Hongkong |
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Date of Incorporation : |
05.12.2003 |
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Com. Reg. No.: |
874076 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Specializes in trading diamond jewellery |
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
LAXMI DIAMOND
(HK) LTD
RM 802, 8FL GUARD
FORCE CENTRE
EAST HUNGHOM
TEL: 852 23119628
FAX: 852 23114498
EXECUTIVE SUMMARY
INCORPORATION
DATE : DECEMBER 5, 2003
REGISTRATION
NO. : 874076
CHIEF
EXECUTIVE : MR. RAKESH
GAJERA
STAFF
STRENGTH : 15
CAPITAL : US$
1,024,328
BUSINESS
LINE : TRADER
TURNOVER : N/A (AS OF DEC.
31, 2006)
EQUITIES : N/A (AS OF
DEC. 31, 2006)
PAYMENT : AVERAGE
RECOMM.
MARKET
CONDITION : AVERAGE
FINANCIAL
CONDITION : FAIRLY STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHNAGE
RATE : HKD 7.8134 =
US$1 AS OF 2007-7-3
HISTORY
*Company
Registration*
===================
License number : 874076
Date issued : 5 December, 2003
Issuing
authority : Companies Registry
Legal form : Private Company having Share
Capital
Type of license : Corporate
License number : 34135130-000
Issuing
authority : Business Registration
Office - Inland Revenue Dept
Type of license : Business
*Company Name*
=============
Incorporated as : KOMAL GEMS LTD
Date of
incorporation : 5 December, 2003
Changed name to : LAXMI DIAMOND (HK) LTD
Date of change : 19 November, 2005
*Registrar*
=========
- WILSON & CO
*Capital Details*
=============
Share value : HKD 1.00/-each
Authorized
capital : HKD 8,000,000.00
Paid-up capital : HKD 800,000.00 divided into 800,000
ordinary shares
*Office &
Facilities*
===============
Other e-mail : komalgem@netvigator.com
*Reputation*
==========
Reference checking
for the purpose of establishing the firm's reputation within the respective
industry failed to reveal any negative information.
*Approved
Signatures*
===================
Only Mr. Hiren Kumar
Rameshbhai Khunt can sign on behalf of the company with seal affixed.
WEBSITE
Website: www.laxmidiamond.com the design is professional and the content is
well organized. At present it is in English version.
E-mail:
laxmi@laxmidiamondhk.com
LITIGATION
For
the past two years there is no record of litigation.
OWNERSHIP / MANAGEMENT
BACKGROUND
*Major
Shareholders*
=================
Total
number of shareholders : 4
Total
number of ordinary shares : 800,000
Shareholders'
Name No. of Ordinary
Shares Amount of Shares (HKD) % of Shares
--------------------------
-----------------------------
-------------------------------
----------------
Mr.
Hiren Kumar Rameshbhai Khunt 408,000 408,000.00 51.00
LAXMI
JEWEL PVT LTD
160,000
160,000.00
20.00
Mr.
Lalit Jivraj Patel
120,000
120,000.00
15.00
Mr.
Vipulkumar Kesubhai Boghani 112,000 112,000.00 14.00
Share
Transfer
--------------------
Transferor Transferee No. of Ord. Shares Date
-------------- -------------- ------------------------- --------
Mr. Rajeshkumar Chandanmal Shah Mr. Hirenkumar Rameshbhai Khunt 408,000 29 June, 2006
*Directors'
Details*
===============
Mr.
Hiren Kumar Rameshbhai Khunt
Address : Flat F 14Fl
Responsibility : Handles the overall management of the
company.
Mr.
Ashokkumar Haribhai Gajera
Address : GJ-66 SDF VII Seepz Andheri
East Mumbai (
Mr.
Lalit Jivraj Patel
HKID
no : R014156(8)
Address : Flat F 14Fl
Mr.
Vipulkumar Kesubhai Boghani
HKID
no : R136798(5)
Address : Flat F 14Fl
*Company
Secretary*
=================
WILSON
BUSINESS ADMINISTRATION LTD
Address : Rm 2008-9 Bank Centre
CR
no : 143657
MANAGEMENT
*COMPANY
MANAGEMENT*
=========================
Name
Nationality Job Description
Mr.
Rakesh Gajera Indian CEO
BUSINESS OPERATIONS
*Main
Products & Services*
======================
Specializes
in trading diamond jewelry.
Products: Diamond jewelry
Loose diamonds
Polished diamonds
*Payment
Terms*
=============
Sales
------
Local : Cash or Credit
Export
: Letter of Credit (L/C)
Telegraphic Transfer (T/T)
Purchases
--------------
Local : Cash or Credit
Import : Letter of Credit (L/C)
Telegraphic Transfer (T/T)
*Association*
============
Member
of :
-
Hong Kong Jewelry Manufacturers' Association
*Exhibition
Participation*
====================
Attended
Exhibition
---------------------------
Exhibition/Fair :
Date
attended : 6-9 March, 2007
Location :
Future
Exhibitions
-------------------------
Exhibition/Fair :
Dates
to attend : 21-24 June, 2007
Location :
Exhibition/Fair :
Dates
to attend : 25-29 September, 2007
Location :
*Local
Distribution Network*
=======================
Part
of the annual turnover is attributed to local sales.
*Export
Markets*
=============
Part
of the annual turnover is attributed to export.
RELATED COMPANIES
*(Subsidiaries
, Joint-ventures & Affiliates)
=================================
Company
Name : LAXMI DIAMOND PVT LTD
Address : Prasad Chambers 416 Opera House
Mumbai (
Country :
Relationship : Affiliate
Legal
Form : Private Limited Company
Company
Type : Trader
Industry : Giftware & Jewellery
*Strategic
Partners & Alliances*
=========================
Group
name : LAXMI DIAMOND GROUP
Details : The groups headquarter is located
in Mumbai.
PAYMENT
PAYMENT RATING :3 OBTAINED SCORES : 57
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Implication |
Implications |
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1 |
Scores 85–100 |
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.
FINANCIAL HIGHLIGHTS
As
a private limited company there is no legal requirement according to local
corporate law for public disclosure of detailed financials.
REMARKS
SC is
considered small-sized in its line with a short history. It is
considered a credit line up to US$ 25,000 appears to be within SC’s capacities.
SIC
PRODUCT CLASSIFICATION & ACTIVITY
Activity
Code Product/Service Description
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 7116201000
Jewelry of precious or semiprecious
stones
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
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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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%)