MIRA
INFORM REPORT
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Report Date : |
02.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
PARAS DIAMOND |
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Registered Office : |
Flat/Rm 2J, 2FL Star Mansion 3-5 Minden Row, Tsimshatsui
Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
July 15, 2006 |
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Com. Reg. No.: |
37105207-000 |
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Legal Form : |
Sole-Proprietorship |
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Line of Business : |
Import of diamond, precious and semi-precious stones. Selling of products both to local and overseas markets. |
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. |
Small |
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Status : |
Small Company |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
name & address
PARAS DIAMOND
FLAT/RM 2J, 2FL STAR MANSION 3-5 MINDEN ROW
TSIMSHATSUI KOWLOON HONG KONG.
TEL : 852-23011788
FAX : 852-23011798
EXECUTIVE SUMMARY
INCORPORATION DATE :
JULY 15, 2006
REGISTRATION NO. :
37105207-000
LEGAL FORM :
SOLE-PROPRIETORSHIP
CHIEF EXECUTIVE :
MR. GYANCHAND MANAUCHAND BAMB (CHAIRMAN)
STAFF STRENGTH :
12
CAPITAL :
N/A
BUSINESS LINE :
TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
FAIR
MARKET CONDITION :
FAIR
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.75406 = US$1
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
*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.
Based on corporate filing regulations for this type of entity in Hong Kong,
there is either, no requirement for Shareholders or no requirement for public
disclosure of Shareholders.
*Key Personnel*
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Gyanchand Manauchand Bamb
Founder :
Co-founder
Identity Card no : ZZ5243091
Address :
Flat/Rm 2J, 2Fl Star Mansion 3-5 Minden Row, Tsimshatsui, Kowloon, Hong Kong
Responsibility :
Handles the overall management of the firm.
*Main Products & Services*
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Specializes in the following areas of work :
1. Import of diamond, precious and semi-precious stones.
2. Selling of products both to local and overseas markets.
Products: Diamonds
Precious
stones
Semi precious stones
*Payment Terms*
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Sales
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Local : Cash or Credit
Export : Letter of Credit (L/C)
Purchase
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Import : Letter of Credit (L/C)
*Imports*
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100% of the products are imported.
*Local Distribution Network*
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An estimated of 1% of the annual turnover is attributed to local sales.
*Export Markets*
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An estimated of 99% of the annual turnover is attributed to export.
SC is not known to have any subsidiary at
present.
PAYMENT RATING : 4 OBTAINED SCORES : 35
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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 SMALL amounts depending
on individual judgement experience.
As a sole-proprietorship 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 a short development
history. Credit should be confined to 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
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 7102 Diamonds,
worked or not, not mounted or set
Trading 7116201000 Jewelry
of precious or semiprecious stones
INTERNATIONAL
TRADE : ACTIVITY & MARKETS
Exporting to Asia
Exporting to Japan
Exporting to Taiwan
Exporting to Thailand
Exporting to USA
Importing from Asia
Importing from Belgium
Importing from Europe
Importing from India
Importing from North America
Importing from USA
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. |
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%)