MIRA
INFORM REPORT
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Report Date : |
25.07.2007 |
IDENTIFICATION DETAILS
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Name : |
4C'S DIAMONDS
DISTRIBUTORS |
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Registered Office : |
Rm 1724, 17/F, Star House, |
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Country : |
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Date of Incorporation : |
11-3-1988 |
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Com. Reg. No.: |
11655488 |
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Legal Form : |
Partnership |
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Line of Business : |
Engaged in manufacturing & export of fine jewellery. |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
NAME
4C'S DIAMONDS DISTRIBUTORS
ADDRESS
RM 1724, 17/F, STAR HOUSE,
TSIMSHATSUI,
TEL : 852 28773191
FAX : 852 28014925
EXECUTIVE SUMMARY
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INCORPORATION DATE |
11-3-1988 |
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REGISTRATION NO. |
11655488 |
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REGISTERED LEGAL FORM |
PARTNERSHIP |
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CHIEF EXECUTIVE |
MEHTA HITESH LALTIBHAI (PARTNER) |
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STAFF STRENGTH |
10 |
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AUTHORIZED CAPITAL |
[IN HK, UNLIMITED COS. ARE NOT REQUIRED TO FILE ITS CAPITAL PARTICULARS TO BR OFFICE (THE INLAND REVENUE)] |
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PAID-UP CAPITAL |
NOT APPLICABLE |
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BUSINESS LINE |
MANUFACTURE & EXPORT OF FINE JEWELLERY |
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TURNOVER |
N/A (AS OF
DEC. 31, 2004) |
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EQUITIES |
N/A (AS OF DEC. 31, 2004) |
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PAYMENT |
AVERAGE |
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MARKET CONDITION |
COMPETITIVE |
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FINANCIAL CONDITION |
STABLE |
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OPERATIONAL TREND |
FAIRLY STEADY |
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GENERAL REPUTATION |
AVERAGE |
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EXCHANGE RATE |
HKD 7.75444 = USD1 AS OF 2005-12-30 |
Adopted abbreviations
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
HKD –
SC was established under Business Registration number 11655488 on 11-3-1988 with present status as partnership.
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
- Mehta Hitesh Laltibhai / P286059(0) 3/F,
Silom
S1-7
10500,
- Patwa Amit Haresh Kumar / P924993(5) Flat G, 7/F, Kim Hing
Mansion, 49-51
Tsimshatsui, Kln., HK.
Certain material change or amendment regarding SC within the last 4 years has been traced & noted as follows:
Change in principal(s):
Name(s) of admitted partner(s) Joining
date
Nil Nil
Name(s) of retired partner(s) Leaving
date
Nilesh Ratilal Sedani 15-11-2003
SC maintains its registered office at Flat 5, 9/F,
Total number of employees : 10.
Location: Maintaining its office at the heading business address occupying 1,600 square feet at a commercial & shopping building in a commercial & shopping district.
Condition inside the premises during our visit :
Office/factory layout : Standard.
The premises is rented.
Sources indicated SC is a member of the World Federation of Diamond Bourses.
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
Civil litigation/winding-up petitions : None in our database.
Mortgage/charge record(s) : In HK, unlimited companies are not required to file its charge particulars for public inspection.
Mehta Hitesh Laltibhai, partner:
- In his late 40's
- He is by Indian nationality
- Frequently travelling between HK & SE Asia for SC's operations
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
Patwa Amit Haresh Kumar, partner:
- In his mid 40's
- He is by Indian nationality
Currently active in SC's day-to-day operations & is responsible for its management.
Registered residential address: As stated above.
Property ownership: Current land search indicates the said premises ownership as follows:
- Owner(s) : Chan Fong
- Date of purchase & consideration : 28-6-1996 / HKD1.48M
- Date of mortgage & secured amount : NA
- Mortgagee : NA
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 : 2 Obtained scores : 63 (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 manufacturing & export of fine jewellery. Items available include jewellery sets, polished & cut gemstone & diamond.
Principal purchases :
Major types of sourcing : Jewellery items
Local--type of suppliers : Distributors & manufacturers
Buying terms : COD & credit of 30 days
Overseas--supplying countries :
Buying terms : L/C & T/T
Principal market :
Local--type of customers : Wholesalers & dealers
Selling terms : COD & credit of 30 days
Overseas--buying countries :
Selling terms : L/C & special agreed terms
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
SC did not provide any name of trade/service suppliers and we have no other sources to conduct the enquiry at present.
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: HSBC.
During
our report preparation, the principals could not be contacted while the staff
members hesitated to release financial information without the principals'
consent.
Re: In HK, only the public listed cos., financial institutions & overseas cos. are obligated to file their financial statements to Companies Registry for public search. Generally, the private limited cos. & unlimited cos. always keep those data as highly confidential matter.
SC is considered an old-established business with acceptable financial base.
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%)