MIRA
INFORM REPORT
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Report Date : |
6th March, 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 : |
02.05.2002 |
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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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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
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*
===========
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*
================
(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*
=================
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 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
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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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%)