MIRA
INFORM REPORT
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Report Date : |
17.05.2007 |
IDENTIFICATION DETAILS
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Name : |
MARVAL GEMS ( |
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Registered Office : |
Rm 1606, 16/F, |
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Country : |
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Date of Incorporation : |
29-12-1999 |
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Com. Reg. No.: |
699297 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Trading of diamond. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Small Company |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
name & address
MARVAL GEMS (
RM 1606, 16/F,
TEL : 852 27239789/27210114
FAX : 852 27244544
EXECUTIVE SUMMARY
INCORPORATION DATE :
29-12-1999
REGISTRATION NO. :
699297
REGISTERED LEGAL FORM : PRIVATE
LIMITED COMPANY
CHIEF EXECUTIVE : MEHTA NIRAJ SURESH (MANAGING DIRECTOR)
STAFF STRENGTH :
2
AUTHORIZED CAPITAL : HK$1,000,000
= 100,000 SHARES @ HK$10.-
PAID-UP
CAPITAL :
HK$1,000,000
BUSINESS LINE :
TRADING OF DIAMOND
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.82003 = USD1 AS OF 2007-5-17
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
HKD –
Your given name "Marvel Gems (HK) Ltd." is not on the
companies list in Companies Registry in HK.
Based on your given address, we believe that your search target is Marval
Gems (
SC is a private limited company registered under incorporation file no.
699297 on 29-12-1999.
SC's shareholders & directors are shown to be as follows:
Shareholders (as at 29-12-2006) Number
of shares held
- Modi Rajesh Babubhai 99,999
- Modi Hina Rajesh 1
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100,000
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Directors (as at
29-12-2006)
- Mehta Niraj Suresh / P952832(A)
- Modi Rajesh Babubhai / P192645(8)
The above registration information is based on SC's annual return filed at
Companies Registry within the last 2 years.
No material change or amendment regarding SC has been traced & noted
within last 2 years.
Total number of employees : 2.
Location : Maintaining
its office at the heading business address which occupies a gross area of 350
square feet at a commercial building in a commercial & residential
district.
Condition inside the premises during our
visit :
Office/factory layout : Standard.
The premises is rented.
SC's principals advised that SC is affiliated to Minestone whose partial
information is as follows:
Year established : NA
Registered/business
address : 514 Panchratna, 5/F, Opera
House, Mumbai 400004,
Business line : The co is one of the
diamond. It has 5 major factories located in 4 cities in
representative office located in
No. of employees : 2,000 (group)
Civil litigation & winding-up petition : None in our database
Turnover :
NA
Contact information of the said co.:
- Tel : 0091-22-23622661
- Fax : 0091-22-23631817
Mehta Niraj Suresh, managing director:
- Born in 1973
- He is by Indian nationality
- He has 12 years of experience in present field
Currently active in SC's day-to-day operations & is responsible for
its management.
Registered residential address: Flat A, 10/F, South Sea Apartment,
Property ownership: Current land search indicates the said premises
ownership as follows:
- Owner(s) : Lai Ming Kit & Leung Oi Kum
- Date of purchase & consideration : 16-8-1999 / HK$2.5M
- 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
Modi Rajesh Babubhai, director:
- In his late 40's
- He is by Indian nationality
- He has over 20 years of experience in present field
Currently residing in
Registered residential address:
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 : 3 Obtained scores : 60 (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.
Upon a current contact, Mehta Niraj Suresh, SC's managing director,
declined forwarding any financial information on the ground that it is the company's
policy not releasing any data to a third party without the benefit of knowing
the identity of the inquiring party.
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 29-12-2006 was NA.
Banking relations are maintained principally with: Industrial &
Commercial Bank of
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 records filed by SC for the last 2 years. In
Civil litigation/winding-up petitions : None in our database.
Mortgage/charge record(s) : None filed since its incorporation date.
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 : A trade enquiry currently
conducted with SC's supplier(s) reveal the following:
First Second
Type of supplies : Merchandise
Time known : 3 years
Selling terms : Net
30 days
Total purchases (last 6 months) : $0.5M
Present balance : $0.19M
Payment record : 3
Payment record keys : 1 = Prompt : Payment made
before the credit period expires
2
= As agreed terms : Payment made upon due
date
3
= Slightly slow but acceptable : Payment
made 5 to 20 days beyond agreed terms
4
= Slow : Payment made 16 to 45 days beyond
agreed terms
5
= Poor : Payment made over 45 days beyond
agreed terms
6 = Payment slowing down : Payment formerly prompt
but slowing down in recent months
7 = No comment : Account is newly opened &
record is not yet established
Note : In
some instances, payment beyond terms can be the result of disputes over
merchandise, lost invoices, disputed accounts & etc.
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.
Business categories :
SC is engaged in trading of diamond.
Items available include a wide range of fancy cut & round diamond
(such as marquises, pearl shapes, ovals, baggets, heart shapes, trillions &
princess cuts).
Principal purchases :
Major
types of sourcing : Diamond
Local--type
of suppliers : Nil
Buying
terms : Nil
Overseas--supplying
countries :
Buying
terms : T/T
& L/C
Principal market :
Local--type
of customers : Manufacturers,
wholesalers & exporters
Selling
terms : COD &
credit of 30-60 days
Overseas--buying
countries : USA & Europe
Selling
terms : T/T &
L/C
Overseas affiliates:
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- Fanci Source Inc. (in
- Marval Gems B.V.B.A. (in
- Marval Gems (
- Marval Gems (
SC is considered a normally advancing concern with steady customers and
good base to meet its trade engagements.
-- Asset Tracing --
Upon our current investigation, our database & sources consulted
indicate that SC was not involved in any property transaction (both purchase
& disposal) in
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%)