MIRA
INFORM REPORT
|
Report Date : |
21.03.2007 |
IDENTIFICATION
DETAILS
|
Name : |
PRIYA (DIAM) TRADING LTD. |
|
|
|
|
Registered Office : |
Rm 705, 7/F, Hang Seng Bank Bldg 9-11a Cameron Road,
Tsimshatsui, Kowloon |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
12-2-1999 |
|
|
|
|
Com. Reg. No.: |
667495 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Engaged in import & supply of fine jewellery. |
RATING &
COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
name & address
PRIYA (DIAM) TRADING LTD.
RM705, 7/F, HANG SENG BANK BLDG
9-11A CAMERON ROAD, TSIMSHATSUI, KOWLOON, HONG KONG.
TEL : 852 23127008
FAX : 852 23127918
EXECUTIVE SUMMARY
INCORPORATION DATE :
12-2-1999
REGISTRATION NO. :
667495
REGISTERED LEGAL FORM : PRIVATE LIMITED CO.
CHIEF EXECUTIVE : JHAVERI PREMAL PRAVIN (DIRECTOR)
STAFF STRENGTH :
4
AUTHORIZED CAPITAL : HKD $2M = 2M SHARES @ HKD $ 1.-
PAID-UP
CAPITAL : HKD $
1,000,002
BUSINESS LINE :
IMPORT & SUPPLY OF FINE JEWELLERY
TURNOVER :
N/A (AS OF DEC.31, 2005)
EQUITIES :
N/A (AS OF DEC. 31, 2005)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE :
FAIRLY LARGE AMOUNT
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.81375 = USD1 AS OF 2007-03-21
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
SC is a private limited company registered under incorporation file no.
667495 on 12-2-1999.
SC's shareholders & directors are shown to be as follows:
Shareholders (as at 12-2-2007) Number
of shares held
Jhaveri Premal Pravin 500,001
Jhaveri Jwala Premal 500,001
------------
1,000,002
=======
Directors (as at 12-2-2007)
Jhaveri Premal Pravin / K6120415
Jhaveri Jwala Premal / K612044A
The above registration information is based on SC's annual return filed
at Companies Registry within the last 2 years.
Our current search revealed certain material change or amendment of SC
has been recorded within the last 2 years & noted as follows:
Shares allotments on 17-5-2006:
Allottee(s) No.
of share(s)
Jhaveri Premal Pravin 500,000
Jhaveri Jwala Premal 500,000
Total number of employees : 4.
Location : Maintaining
its office at the heading business address which occupies a gross area of 1,000
square feet at a commercial building in a commercial district.
Condition inside the premises during our
visit : Normal.
Office/factory layout : Standard.
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 Hong Kong, creation of such
mortgages/charges by an unlimited co is not required to be registered in the
public records.
Civil litigation/winding-up petitions : None in our database.
Mortgage/charge record(s) : (X) see below ( ) see per attached
Creation date : 9-6-2006
Charger(s) :
SC
Chargee(s) :
Bnak of India
Secured amount : ANS
Charge particulars : Letter of set-off & appropriation (fixed deposit
USD500,000)
Mortgage Index:
Year(s) in which mortgage registration(s) are filed: 2002, 2006
Year(s) in which mortgage satisfaction record(s) are filed: Nil
Jhaveri Premal Pravin, director:
- In his mid 40's & married
- Moved to HONG KONG from India in mid 1990's
Currently active in SC's day-to-day operations & is responsible for
its management.
Registered residential address: House #7, 22nd St., Hong Lok Yuen, Tai
Po, N.T., HONG KONG.
Property ownership: Current land search indicates the said premises
ownership as follows:
- Owner(s) : Jhaveri Premal Pravin & Jhaveri Jwala Premal
- Date of purchase & consideration : 30-7-2004 / HKD9.1M
- Date of mortgage & secured amount : 30-7-2004 & 7-6-2006
- Mortgagee : HSBC & Antwerp Diamond Bank
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
Jhaveri Jwala Premal, director:
- In his mid 40's & married
Currently active in SC's day-to-day operations & is responsible for
its management.
Registered residential address: Same as Jhaveri Premal Pravin.
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 : 62 (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 import & supply of fine jewellery.
Items available include gemstones (jade, ruby, emerald, sapphire, tiger,
rough colour), diamond, semi-precious & precious stones.
Principal purchases :
Major
types of sourcing : Diamond
& gemstones
Local--type
of suppliers : Nil
Buying
terms : Nil
Overseas--supplying
countries : India, Sri Lanka, Pakistan,
S. Africa, Europe & other SE Asian countries
Buying
terms : L/C
& T/T
Principal market :
Local--type
of customers : Retailers
Selling
terms : COD &
credit of 30 to 45 days
Overseas--buying
countries : PR China & SE Asia
Selling
terms : L/C &
T/T
Affiliate in PR China:
---------------------------
- Priya (Diam) Shanghai Ltd.
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
- Bank of China (HK) Ltd.
- Bank of India
Upon a current contact,
SC's principal(s) declined forwarding any financial information on the ground
that SC is a private venture whose data is not required for public inspection.
As per current co. search, total amount of indebtedness of SC in respect
of all mortgages and charges which are required to be registered with Companies
Registry as at 12-2-2007 was NA.
SC is considered a well-maintained business with solid base to meet
fairly large amount of credit dealings.
-- Asset Tracing --
Upon our current investigation, our database & sources consulted
indicate that SC was not involved in any property transaction (both purchase
& disposal) in Hong Kong for the last 6 years.
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average/normal. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)