MIRA
INFORM REPORT
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Report Date : |
06.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
SIMI-DIAM LTD |
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Registered Office : |
RM 1301, 13FL Ashley Center
23-25 Ashley Road, Tsimshatsui Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
03.06.1988 |
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Com. Reg. No.: |
217477 |
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Legal Form : |
Private |
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Line of Business : |
Importing of Polished Diamonds and Other Jewelry. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
NAME AND ADDRESS
SIMI-DIAM LTD
RM 1301, 13FL ASHLEY CENTER 23-25 ASHLEY RD
TSIMSHATSUI KOWLOON, HONG KONG.
TEL: 852-27368018
FAX: 852-27359116
EXECUTIVE SUMMARY
INCORPORATION DATE :
JUNE 3, 1988
REGISTRATION NO. :
217477
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MS. PRITI YOGESH SHAH (CHAIRMAN)
STAFF STRENGTH :
5
CAPITAL :
US$ 256,739
BUSINESS LINE :
TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.76450 = 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
*Company Registration*
===================
(1)
License number : 217477
Date issued : 3 June,
1988
Issuing authority : Companies
Registry
Type of license : Corporate
(2)
License number : 11916129
Issuing authority : Business
Registration Office - Inland Revenue Dept
Type of license : Business
*Registrar*
=========
TOTAL CORPORATE SERVICES LTD
*Capital Details*
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Share value : HKD 1.00/-each
Authorized capital : HKD
2,000,000.00 divided into 2,000,000 ordinary shares
Paid-up capital : HKD
1,805,000.00 divided into 1,805,000 ordinary shares
*Corporate & Organization Structure*
============================
A small company mainly operated and managed by an experienced team of
professionals.
*Approved Signatures*
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Only Ms. Priti Yogesh Shah can sign on behalf of the company with seal
affixed.
SC is not known to host website of its own at present.
E-mail: simi_diam@hotmail.com
For the past two years there is no record of litigation.
*Major Shareholders*
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Total number of shareholders
: 2
Total number of ordinary shares : 1,805,000
Shareholders' Name
No. of Ordinary Shares
Amount of Shares (HKD) % of
Shares
-------------------------- ------------------------------ ---------------------------------- ----------------
Ms. Priti Yogesh Shah 1,804,999 1,804,999.00 100.00
Mr. Noohu A. M. Thaika 1 1.00 --
*Directors' Details*
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(1)
Mr. Noohu A. M. Thaika
HKID number : XG470206(2)
Address : 1706 Tung Ma
House Fu Tung Estate TungChung Lantau, Hong Kong
(2)
Mr. Yogesh Shah
HKID number : P143992(1)
Address : House 27, 10th
St Hong Lok Yuen Tai Po New Territories Hong Kong
*Company Secretary*
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Noohu A. M. Thaika
HKID number : XG470206(2)
Address : 1706 Tung Ma
House Fu Tung Estate TungChung Lantau, Hong Kong
*Key Personnel*
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Ms. Priti Yogesh Shah
Founder :
Co-founder
HKID number : K827735(4)
Address : House 27,
10th St Hong Lok Yuen Tai PoNew Territories Hong Kong
Work experience : More than 15
years
Responsibilities : Handles
the daily operation of the firm including all financial, sales and legal
matters.
*Main Products & Services*
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Specializes in the following areas of work:
1. Importing of polished diamonds and other jewelry.
2. Sales and distribution of products to domestic and international
markets.
Products: Diamonds
Jewelry
Polished diamonds
*Payment Terms*
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Sales
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Local : Cash
30-90 days
credit
Exports : 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*
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An estimated 20% of the annual turnover is attributed to local
sales.
*Export Markets*
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An estimated 80% of the annual turnover is attributed to export.
SC is not known to have any subsidiary at
present.
PAYMENT
RATING : 3 OBTAINED SCORES :
55
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Rating Key |
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 MODERATE amounts depending on individual
judgement experience.
As a private limited company there is no legal requirement according to
local corporate law for public disclosure of detailed financials.
*Bank Details*
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Bank name : UCO BANK
Branch : Kowloon
SC is considered small-sized in its line with a development history of
19 years.
Attached: trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Service 5944 Jewelry
Stores
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
Trading 7113 Articles
of jewelry & parts, of precious metal or clad
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Exporting to Asia
Exporting to Europe
Exporting to North America
Exporting to South America
Exporting to USA
Importing from Asia
Importing from India
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%)