MIRA
INFORM REPORT
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Report Date : |
14.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
ELITE DIAM (HK) LTD |
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Registered Office : |
Unit E 9fl Cameron
Plaza 23-25a Cameron Rd, Tsimshatsui Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
10.12.2005 |
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Com. Reg. No.: |
1012951 |
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Legal Form : |
Private
Limited Company |
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Line of Business : |
Engaged in
trading of diamonds. |
RATING &
COMMENTS
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MIRAs Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Small Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
Company Name & Address
ELITE DIAM (HK) LTD
UNIT E 9FL CAMERON PLAZA 23-25A CAMERON RD
TSIMSHATSUI KOWLOON, HONG KONG
TEL: 852 27399951 FAX: 852 27399950
EXECUTIVE SUMMARY
INCORPORATION
DATE : DECEMBER 10, 2005
REGISTRATION
NO. : 1012951
CHIEF EXECUTIVE : MR. BAKUL RAMNIKLAL PARIKH
(CHAIRMAN)
STAFF
STRENGTH : 5
CAPITAL : US$ 1,287
BUSINESS
LINE : TRADER
TURNOVER : NA (AS OF DEC.
31, 2005)
EQUITIES : NA AS OF DEC.
31, 2005)
PAYMENT
: FAIR
RECOMM.
CREDIT RANGE : COD TO SMALL AMOUNT
MARKET
CONDITION : COMPETITIVE
FINANCIAL
CONDITION : N/A
OPERATIONAL
TREND : N/A
GENERAL
REPUTATION : AVERAGE
EXCHNAGE
RATE : HKD 7.77750 =
US$1 AS OF 2006-12-30
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
HKD Hong Kong Dollars
*Company
Registration*
===================
(1)
License number :
1012951
Date issued :
10 December, 2005
Issuing
authority : Companies Registry
Type of
license : Corporate
(2)
License number :
36278516-000
Issuing
authority : Inland Revenue Department
Type of
license : Business
*Corporate &
Organization Structure*
============================
A small sized
company operated and managed by an owner of the firm.
*Reputation*
===========
Due to the recent
incorporation of the firm, and the relatively small nature of it's business, no
meaningful points of reference in terms of reputation within the respective industry
was possible.
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*
=================
Total number of
shareholder : 1
Total number of
ordinary shares : 10,000
Shareholder's Name No. of ordinary shares Amount of shares (HKD)
% of Shares
--------------------------
-----------------------------
-------------------------------
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Mr. Bakul Ramniklal Parikh 10,000 10,000.00 100.00
*Directors'
Details*
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(1)
Mr. Nimish Mody
Belgium Passport
No. : EE297513
Address : 173 Belgelie Antwerpen 2018 Belgium
(2)
Mr. Nehalkumar
Himatlal Parikh
HKID No. : R439514(9)
Address : 4D Kimberley Mansion 15 Austin Ave
Tsimshatsui Kowloon
*Company Secretary*
=================
Mr. Bayani Divino
Bautista Ponce
HKID No. : P293411(A)
Address :
2B King's Court 48-52 Fort St North Point Hong Kong
Name Nationality
Job Description
Mr. Bakul Ramniklal
Parikh Indian General Manager
*Key Personnel*
=============
Mr. Bakul Ramniklal
Parikh
Founder : Sole Founder
Address : Tong Eng Bldg 101 Cecil St
#25-11 Singapore 069533
Work experience :
More than five years
Responsibilities : Handles the daily operation of the firm
including all financials and legal matters.
*Main Products
& Services*
======================
Specializes in
trading of diamonds.
Products : Diamond
*Payment Terms*
==============
Sales
------
Local : Cash
30-60 days credit
Export : 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*
=======================
50% of the annual
turnover is attributed to local sales.
*Export Markets*
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50% of the annual
turnover is attributed to export worldwide.
SC is not known to
have any subsidiary at present.
PAYMENT RATING : 4
OBTAINED SCORES : 45
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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 limited
company there is no legal requirement according to local corporate law for
public disclosure of detailed financials.
Additionally as the
company was only established one (1) year ago no financials have been lodged.
SC was considered
small-sized in its line with a short operating history. Credit dealings with SC
should be confined into small amount at present.
ATTACHED: TRADE REFERENCES
SIC PRODUCT
CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 3911
Jewelry, of precious metal
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
INTERNATIONAL
TRADE : ACTIVITY & MARKETS
Exporting to Asia
Exporting to Europe
Exporting to North
America
Exporting to USA
Importing from Asia
Importing from
Belgium
Importing from
Europe
Importing from
India
Importing from
Thailand
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 SCs 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%)