MIRA
INFORM REPORT
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Report Date : |
29.10.2007 |
IDENTIFICATION
DETAILS
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Name : |
D. N. DIAMONDS (HK) LTD. |
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Registered Office : |
Flat 1, 11/F, Ocean View Court,27 Chatham Road South,
Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
30-11-2006 |
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Com. Reg. No.: |
1091797 |
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Legal Form : |
Private |
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Line of Business : |
Engaged in manufacturing & trading of jewellery. |
RATING &
COMMENTS
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MIRA’s Rating : |
NR |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
name & address
D. N. DIAMONDS (HK) LTD.
FLAT 1, 11/F, OCEAN VIEW COURT,27 CHATHAM ROAD SOUTH, TSIMSHATSUI, KOWLOON, HONG KONG.
TEL : 852 36934141
FAX : 852 36934142
EXECUTIVE SUMMARY
INCORPORATION DATE :
30-11-2006
REGISTRATION NO. :
1091797
REGISTERED LEGAL FORM : PRIVATE
CHIEF EXECUTIVE : PONCE BAYANI DIVINO BAUTISTA (DIRECTOR)
STAFF STRENGTH :
2
AUTHORIZED CAPITAL :
HK$10,000 = 10,000 SHARES @ HK$1.-
PAID-UP
CAPITAL : HK$10,000
BUSINESS LINE :
MANUFACTURE & TRADING OF JEWELLERY
TURNOVER :
N/A (AS OF DEC. 31, 2005)
EQUITIES :
N/A (AS OF DEC. 31, 2005)
PAYMENT :
AVERAGE
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.80934 = USD1
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.
1091797 on 30-11-2006.
SC's shareholders & directors are shown to be as follows:
Shareholders (as at 30-11-2006) Number
of shares held
Ambaliya Dilipbhai Devshibhai 10,000
=====
Directors (as at 30-11-2006)
Rangani Pankajkumar Punabhai / F7813413
Ponce Bayani Divino Bautista / P293411(A)
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.
SC's registered office address:
Flat B, 2/F, King's Court, 48-52 Fort St., North Point, HK.
Total number of employees : 2.
Location: Maintaining office at the
heading business address at a commercial & residential building in a
shopping & residential 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) : None filed since its incorporation date.
Ponce Bayani Divino Bautista, director:
- He is by Indian nationality
- He has 10 years of experience in present field
Currently active in SC's day-to-day operations & is responsible for
its management.
Registered residential address: Same as SC's registered office 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
Rangani Pankajkumar Punabhai, director:
- He is by Indian nationality
Currently residing in India & only visits Hong Kong for business
occasionally.
Registered residential address: 302, Ram Complex Apt., Tapinagar
Society, Katargam Road, Surat, Gujarat, India.
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:
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
Civil litigations : (X) see below ( ) see per
attached
Date :
24-11-2006
Defendant(s) : The said person + Pansuriya
Ajaykumar Ravjbhal + Dorariya Kamlesh Vallabhbhai
Plaintiff(s) : China Mobile Peoples Telephone
Co. Ltd.
Cause of claims : Service charge
Claimed amount : ANS
We could not verify whether the defendant of the above writ record and
SC's director are one and the same person although their name spellings are
identical. In Hong Kong, the identity
card no. of defendants (individuals) in civil litigations is not disclosed for
public search.
Ownership background appraisal:
Rating : 3 Obtained scores : 58 (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 & trading of jewellery.
Items available include diamond, rings, earrings, bracelets &
necklaces.
Production is assigned to its affiliated factory/joint venture
factory located at 36/A, Unique Mechanical
Works Bldg., Mahal Industrial Estate, Off Mahakali Caves Road, Andheri (E),
Mumbai-400 093 India.
Principal purchases :
Major
types of sourcing : Raw
materials
Local--type
of suppliers : Nil
Buying
terms : Nil
Overseas--supplying
countries : India
Buying
terms : L/C
& T/T
Principal market :
Local--type
of customers : Wholesalers &
retailers
Selling
terms : COD &
credit of 30 to 60 days
Overseas--buying
countries : Nil
Selling
terms : Nil
SC also maintains affiliates in United Arab Emirates, Belgium &
India (Surat).
Overall payment appraisal :
( ) Excellent (
) Good ( ) Average ( ) Fair (
) Poor (X) 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 : Owing to the nature of its
operation, SC is not an active seeker of local commercial
credit. Its
expenses in the form of accruals and servicing are reportedly met in a prompt
manner.
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.
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 30-11-2006 was nil.
SC has currently commenced operation and credit not yet established.
Credit dealings with SC are recommended under secured terms at present.
-- 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
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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%)